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My accountability diary

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I'm not really asking for advice with this intro post. I know what I need to do, and I do want this to form part of my daily routine and to help keep me accountable.

I have realised that despite my ability to make money, I'm really bad at managing it - so you see no matter how much money I make, I am still in debt!!!

I have lived too lavishly throughout my 20s, and now its caught up with me - this year I grossly underestimated how much money I had left in my business. I know my mistakes and I'm working hard on educating myself on my business finances and making better decisions.

I have always had debt, and no matter how much money I have made I haven't been able to live debt free so that is now my goal for the next 2 years.

So this month begins my £51k debt free journey - goal is18 months from now.
Lightbulb moment - 02 Sep 2016 - £51k in debt

Comments

  • geek83
    geek83 Posts: 56 Forumite
    What my debt is made up of today:

    Loan - £30726.90
    Barclaycard
    Tesco - £6256.65
    Virgin - £667.31
    Next - £160

    The loan is stupidly to pay o
    Lightbulb moment - 02 Sep 2016 - £51k in debt
  • datlex
    datlex Posts: 2,252 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Hi good luck with your journey to being debt free. Can I make a little suggestion on money management? Piggy Banking technique it helps loads with money management.
    Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.
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