Small Steps Out Of Massive Debt!

GeorgianaCavendish

Has anyone done 20COGS? I was recommended by someone who knows I love surveys etc and the potential payout is very high but it seems so annoying with all the sign-ups for free trials etc - has anyone had experience with it (good, bad or indifferent?) 

Kakiste

I tried it for a bit but I found as I got up to the higher cogs they started giving me tasks that involved using my own money; either taking out paid subscriptions to stuff like magazines or setting up accountd with betting sites. That was me done. 

GeorgianaCavendish

Thank you Kakiste! That was my concern, I don't mind signing up for a free trial of something (I noticed Disney Plus was one of the cogs and would happily do a trial of that) but I don't want to be signing up for magazines or betting sites. Shame but it make sense that is why the rewards are so high! 

GeorgianaCavendish

July Debt & Savings Totals 
So I had another light bulb moment in the last month and have decided to concentrate on building up an emergency fund before I return my focus to my aggressive debt repayment schedule. My first target is to get my Emergency Fund to 3 months expenses, and then I'll re-evaluate my strategy. I've transferred what I used to call my 'debt-buster' savings to my Emergency Fund, and added some more this month.

Emergency Fund : 43% Funded 

Debt : £10,500  

HSBC - £3,150
0% rates in order that they will be paid off (HSBC applies payments to the oldest balances first) 

• £403.15 exp Sep 2020 
• £1,425.17 exp Aug 2020
• £1,321.68  exp Aug 2020 

TESCO - £1,320.00
0% until April 2021 
(sticking at the minimum payment of £25 per month until HSBC is done)

MBNA - £6,030.00
0% until April 2021 

GeorgianaCavendish

Just checked my credit club report and my credit score has shot up from fair to excellent - seems to be catching up with the big payments I made in the last couple of months. 
I had a number of decent surveys through in the last couple of weeks so have added another £14 to the savings pot. 

WinterWarrior

Well done you! Fabulous news on the credit score ⭐️

Verbatim

Another well done from me.  All speeding in the right direction.

GeorgianaCavendish

Thank you Suzanne and Verbatim! 

Kakiste

Good news on the survey front as well!

GeorgianaCavendish

I got my hair cut this week. It was long overdue and I’m glad I got it done but I’m not keen to repeat the experience any time soon, I felt very anxious being around so many people (even with a mask and all the extra precautions that the salon had taken). 

It also felt really strange to spend money on something “frivolous” after so long! 

I’ve been looking at all the new financial measures from the government. I can’t see things changing much for me & DH in the next few months (I can’t see us going out to restaurants much etc) but the fact that the government is taking these economic stimulus steps has made me feel that we’re making the right decision in prioritising the emergency fund savings right now. I’m still finding it tricky to get my head round the idea that it’s ok for the debt not to be out sole focus at the moment, and it is quite anxiety inducing at times.