Debt Free By 29!!!

lucy-lou

So I am back from Pilates and have emptied my current account down to the last 1p! So that's £1.87 sat in a dormant savings account ready to build up my PAD so I can get rid of this £165 deficit on my debt free date. That's 1% down!!!
I also went to the supermarket and brought everything I need for lunch for the next 4 days out of the cash in my purse.
All in all a relatively productive day!
Fingers crossed this will work and I will still be debt free by 29!

zippygeorgeandben

Welcome back, keep it up!

LeaLea89

Welcome back. You've inspired me to tackle mine x

monz

amazing work xx

lucy-lou

So today has been a good day - payday has come and I have cleared another £785 of the debt and I am now in the home straight- 28 days to I should become debt free! plus I am down to less than £1,000 remaining!!!

Whilst moving my money around for the month I realised I have a week off work in a couple of weeks so as I travel an 80 mile round trip daily I have put £50 of my fuel money as my PAD for today. Plus I added the odd 13p that I was paid so that's a total of £52 towards my £165 deficit or 32% not to shabby. The next 68% maybe harder to come by, but I will keep plugging away.

Thanks for all your support, without my diary - although not active I knew it was there in the background - I wouldn't have stuck to my plan and would more than likely still be bobbing away at the £4,000 mark. (Every birthday I promised I would be debt free by the next birthday for the past 4 years! I still can't believe that this year I will finally do it!

lucy-lou

Made my PAD for today £5.82 now 35% to target!!

Jacko_amz

Can you explain the PAD method please?

lucy-lou

Jacko_amz wrote: »

Can you explain the PAD method please?

PAD stands for payment a day so it is any additional payments you can make on a daily basis on top of your standard payments. I use the change from any budgeted purchases - that might be lunch, a birthday present etc.

There is a thread on the deft free challenges which will explain it in more detail but I have found it works well for me and means I keep chipping away at the debt all month.

galok

With Barclayc@rd, I find the online statements really useful, particularly as I frequently use contactless payments with it. There is an option to download your statement into a CSV format, which you can then copy into a spreadsheet. This sounds really nerdy .... each month I highlight each item to retrospectively decide if it was either (1) something I had to buy (2) optional purchase but useful (3) useless purchase or could of done without it.
I add up all the items marked as (3)'s and take a look at where they happened most to give me the motivation and reminder to cut it out the following month.

angelpye

Hi, how exciting! 27 days and counting until you are debt free! Well done you!