Trying to beat the predicted DFD! 16 November 2016 at 4:32PM in Debt free diaries 30 replies 2.8K views

sammiejay

Hi
My lightbulb has been flickering for nearly a year, but it is well and truly stuck on now.
I started 2016 with just under £15000 of debt and planned to end 2016 at least out of the "teens". Instead I have steadily dug myself into a deeper hole and currently owe £17895 accross 5 cards. All but £1300 is 0% for the time being, but I just can't seem to make a dent in it.
The final straw has come today when I was looking at mortgage deals for when mine runs out next year, and because of my stupidity I won't be able to get a decent deal.I've never missed a payment, my credit score is excellent, I just need to get rid of this debt that is holding me back and making me miserable.
I'm hoping that by having a diary on here, I will find ideas on how to do this, and the enjoyment I hope to get from updating my signature as the debt decreases will spur me on!

thriftylass

Hello and welcome. Realising that sth needs to change is a big step forward.

Could you post an SOA so people could maybe make suggestions on where to cut your spending to free up money for more debt repayments?

Have you addressed the spending and how you accumulated 17k on CC? Have you cut up the cards and changed your habits that lead to the debt?

All the best on your journey

sammiejay

Will spend some time and do a SOA this week. i think I've already cut down as much as I can but no harm in having a look.
There have been a few home improvements on the cards, adjustment to a lower paid job and just generally spending more than I earn

Huskyrunner

Good luck with your journey Sammie

do an soa or even just write it down it will help u need too curb spending more than you earn :-)

sammiejay

Thanks Thriftylass and Huskyrunner. I've changed my bank account this evening to take advantage of a switching benefit and I have my notepad all ready to go to start writing down every penny I spend from tomorrow. though I'm hoping for a no spend day.
Also going to do an inventory of what's in the fridge/freezer and cupboards and do a meal plan to use things up before buying anymore. I swear I should just have my salary paid directly to the supermarket- that's the first thing that needs to change!

EssexHebridean

Welcome aboard! Definitey the right place to focus the mind and start making a dent in it.

It sounds like your first best place to start freeing up some cash will be the grocery thing, and thankfully this is also relatively speaking easy to make changes to. You're going about it the right way with working on an inventory first. Prioritise using anything nearing the end of its life - get that used to avoid waste. Try to write a meal plan that needs as little bought to add to it as you can, and write a list of the things you do need, plus staples like milk, bread, fruit etc, then stick to that list when you shop.

A useful challenge is to see how little you can achieve spending over a month - it gets quite addictive, and fun!

sammiejay

Not s great start. Spent £18.16 yesterday and another £6.45 today. Writing it down is really making me realise how much I waste.
Is anyone able to add the link for an SOA? I will try to do one this weekend x

EssexHebridean

Take a look at the "Sticky" post on the Main DFW board Sammie - the link is in there. It's a great way of working out where you "should" stand financially each month, and from there, you can see where you "really" are.

sammiejay

Thanks, heading over there now

Huskyrunner

Have a look at the boosting your income section of the forum there is loads of sites you can go on and do market research surveys and get paid for them.

sammiejay

Have been doing surveys on swag bucks this morning. Only upto 93 points, but that's 93 points closer to a tenner I suppose.