Dark Sunday's 6 Year Plan

Dark_Sunday

Haven't posted anything for a while but the debt battle continues & it will continue until I'm debt free in a few years.

Some good news on the CC balance transfer front ..... Got a random email today about new CC with 0% balance transfer for 12 months & not too much of a rip-off % APR thereafter......thought I had absolutely no chance of acceptance & thought "!!!!!! I"ll hit the button to see if I'm accepted" ...... screen flashed up "congratulations you've been accepted for £7.5k limit & 0% balance transfer for 12 months with 3% fee etc..."

I'm delighted as it'll help reduce the killer CC interest for a wee while :A:T:A:T:A

ani*fan

That's brilliant news about the 0% deal Dark Sunday. Well done for giving it a go.

And you're doing so well with the debt repayment. Keep going. And keep posting on here, it really does help.

chevalier

http://www.stoozing.com/calculator/soa.php


hi there this is the link to a statement of affairs calculator.it might pay to fill it in even if just for yourselves so that you c an budget for all those yearly costs. Also have you checked your insurances and utlilities recently? If not maybe there are savings to be made there, especially if you go via a cast back site like top cash back and quidco
cheers
jacky

Dark_Sunday

I haven't posted for a while...but the debt battle continues.

Received balance transfer offer from a high interest CC I use for business expenses & clear fully every month. The offer: 4.5% APR for 6 months plus 3% balance transfer fee. I can use another card for business expenses, but the dilemma is after 6 months the offer card reverts to a very high interest 30%+ APR, so I need to be sure I can clear the outstanding balance at the end of the 6 month period.

This offer will save approx. £150 in the 6 month period.

Dilemma time

ani*fan

My advice is...don't do it. Just wait for more 0% offers. They're out there, and you'll get them, but the risk of 30%+ in 6 months' time is too high.

Good luck.

ani*fan

Hi there Dark Sunday.

How's the debt busting going?

Dark_Sunday

Haven't been on for a while & glad Xmas is over... My least favourite time of the year.

It's that time again to tighten the belt & re-focus on the end game to get debt-free ASAP.

Hoping to make some good debt-busting progress again in 2017.

Dark_Sunday

Another year gone very quickly... WHOOSH....where did it go...quite scary really.

Another debt-busting year ahead hopefully & the main areas of focus for saving, spending & investing are:

1. Reduce debt by £1k p.m. at least
2. Increase pension contributions from mid year (still unsure by how much)
3. Summer holiday - not had 1 for 4 years
4. 2 long weekend breaks
5. Continue to do budgets
6. Post on here more often

dprovan

Hi Dark Sunday you are doing great. As you said to me I am on a similar journey, but just starting out, so I will be keen to watch how you get on and to pick up tips

Dark_Sunday

Welcome to my diary DP. I didn't really post much last year but still tried to keep a focus on reducing debt. I'm gonna post regularly this year.

It's not easy, but the main thing for me was making budgets & trying to stick to them.

Also there will be times when unexpected costs arise like car tyres, washing machine breaking, etc. I would say when these things happen take them on the chin & don't beat yourself up.

With budgets I try not to keep them too tight & leave enough for living costs & socialising a wee bit.

Now the silly season is over I'll be doing next 4 months budgets & also try to calculate an achievable figure on how much debt I hope to clear in 2017.