I've done it (sort of...)

Tyrone_Black · 25 February 2016 at 7:55PM

I'm now sufficiently close to payday to call this: on Sunday (the day before payday), I will have more money than I owe. This is a £6,500ish turnaround from last summer and probably the first time in nearly a decade that I end a month in the black (admittedly only to the tune of around £50).

I still owe £4,000 on a credit card but I could pay the lot off right now if I so wished. I don't because it's interest free until next July, I've got a Help to Buy ISA on the go and I've grown very attached to the small amount of interest I gain for keeping £2,000 in my current account. I trust myself now to be able to do that and not end up back where I was before and anything I end up with st the end of the month over that £2k will go straight on the card.

Anyway, just wanted to say thanks for the stories etc. My debt was easy to maintain and looked impossible to ever actually pay back, so seeing what people on here have done in such short spaces of time really got me started. Without that I imagine I'd still be making minimum payments and kidding myself that this wouldn't one day ruin my life.

andyfromotley · 25 February 2016 at 8:13PM

good work, build up those savings now.

Tyrone_Black · 25 February 2016 at 8:33PM

andyfromotley wrote: »

good work, build up those savings now.

Thanks! They'll go up at least £200 a month because that goes straight into the ISA, so the rest of any leftover money will go on actually paying off the card. Realistically I think I am going to have to clean out the current account in 2017 to pay it off for good but I'll have £5k in the ISA by then so not devastating.