Dan's desperate dash towards solvency

worriedDan

managed to get out last for a few drinks with one of my mates last night. Was the first time I have been out, without my wife, since the start of all this. It was nice to feel a sense of normality and to not be thinking about debt/money. I only spent £20,including taxi home so I quite happy with that!

We get paid tomorrow/Tuesday and I can't wait to do the next round of payments.

moneyfacts

Dan Your post on 22.03.17 is dead on.

To have that attitude with your level of debt is better than to have your old attitude to money with no debts.

Very promising indeed

triple_choc_chip

Onwards and upwards Dan, it's all positive and socialising within budget is beneficial to your emotional well-being too. :beer:

When you get paid, how about tipping this month's leftovers into the emergency fund? and start each month afresh.

:idea: Have you considered making a signature so that your posts show your anticipated debt free date (dfd) and the repayment percentage achieved? It's visually inspiring and affirming as you progress through your journey.

enthusiasticsaver

Wonderful progress Dan both in your debt reduction and tighter budgeting and your attitude. Don't let this define you, just think of it as a life lesson. Life goes on, holidays, days out, work, trips with your family and friends. Those are the things you want to focus on, done within budget of course.

I also think showing your debt reduction in your signature is a motivator. Do it once a month on the day you make the payments.

zippygeorgeandben

Well done Dan!

Verbatim

Found your diary after the mention on the other thread. You have done so well paying off a huge chunk while dealing with the "hangover", (great analogy). I'm glad you're feeling better. I developed heart problems when I was stressing constantly over debt back in 2005/6 so I'd say finding ways of switching off is essential!
Will be following your progress and cheering you on.
V

worriedDan

Morning everyone,

Feeling better again today. Every day seems a little more normal. We get paid today/tomorrow but we have decided to have an 'eat out of the freezer' week so try and spend as little as possible. I have done an inventory of our fridge, freezer and cupboards and we actually have enough food for the week, despite us thinking that the cupboards were bare. We are having a few cheap days away over the Easter break, so we really want to keep some money back for that.


So this is month 2. This will also be the month where we make our first proper £2000 payment. We were a little shy of this last month as we were still dealing with February overspending. not all of the 2K will come off the balance as I have a couple of things that are accruing interest, however I will be snowballing these debts and making them a priority.

We are determined to have cleared 10K by July pay day. This is only 17 weeks away and this will be such a major boost for me. Goal 2 will be clear an additional 10k by December 28th. I really want to start 2018 20k lighter.


I worked out earlier that if we could maintain this budget for 5 1/2 years we could be clear of all debt INCLUDING THE MORTGAGE!. So potentially I could be 41 years old and totally debt free.

enthusiasticsaver

Fantastic Dan. Just a thought but we took a bit more of a measured approach when overpaying the mortgage. We divided our disposable income three ways (after budgeting for everything). One third to overpay the mortgage, one third to long term savings (pensions) and saved one third for cars, home improvements and holidays. That way when the car needed changing we had savings there. We were still mortgage free by late 40s and have been able to retire at 58 after supporting our daughters through university and helping them with first homes. It depends on what rate your mortgage is though. Stocks and shares isas have been doing well this last year.

Doodles152

Your doing brilliantly.


Like the idea mentioned that any monies left in your pots at the end of the month be put for an emergency fund.


Youll be in a much better position this month without having the fallout from the previous month to deal with as well.


Onwards and upwards

angelpye

Hi Dan, just popping by to say I am glad you are feeling more positive and that your relationship is benefiting from all the change. Well done