Determined to be debt free in five years!

Debtfreein5yrs

Busy day at work today but been another good one on the MSE front.
Took a packed lunch so had a total NSD. Going to aim for 15 NSD's in May. Today makes 2/15.

Made a another small payment this morning of £5.71 towards overdraft 1 by rounding down another account. I'm hoping these small steps will make a big difference in the longer term.

Finally I think I've now got to grips with YNAB as every penny that we have and every penny that we owe is now accounted for.

Feeling very positive this evening

joedenise

Those small payments will definitely make a difference! I did this fairly regularly when I was paying a mortgage (now paid off thankfully!) and it make a big difference as far as interest paid was concerned.

Definitely worth carrying on with the small bits. I even used to transfer odd pennies (I think my smallest was 3p, LOL!)

Denise

Mags82

Good luck on your journey

Tahlullah

Hello, just wanted to send you positive vibes for your debt free journey and to say congratulations on understanding YNAB. I am still struggling, and hope that I will 'get it' soon. I'm not prepared to pay the subscription if I can't understand it after 1 month!

Am subscribing to your diary so will pop in occasionally to offer words of support.

Tx

Debtfreein5yrs

Why, why, why ?!! Today I was having a NSD. Did really well until I was on my way home from work. Bought a bar of chocolate and spent 70p. In hindsight I didn't really want it and I definitely didn't need it. Broke not only my financial goal for today but also my healthy eating plan.

This morning I also discovered that my sons phone bill had cost more than usual. It was 24p more than what I'd budgeted for! Can't really complain as it's only £9.98 a month and in 5 yrs it's the first time it's ever gone above the regular payment. Not bad for a 20 yr old student?
As I'm using YNAB and everything is accounted for I transferred £5 from the birthday budget. Used 24p for the phone bill and then put the other £4.74 towards overdraft 1. I'm enjoying seeing it go down a bit each day

Debtfreein5yrs

joedenise wrote: »

Those small payments will definitely make a difference! I did this fairly regularly when I was paying a mortgage (now paid off thankfully!) and it make a big difference as far as interest paid was concerned.

Definitely worth carrying on with the small bits. I even used to transfer odd pennies (I think my smallest was 3p, LOL!)

Denise

Wish I'd read your post before I left work and spent 70p on chocolate! :rotfl:
Well done on paying off your mortgage and thank you for sharing your experience. Hearing success stories really does help.
Tomorrow if I'm tempted by chocolate I will remember what you've said and I will transfer the money to overdraft instead

Debtfreein5yrs

Mags82 wrote: »

Good luck on your journey

Thank you

Debtfreein5yrs

Tahlullah wrote: »

Hello, just wanted to send you positive vibes for your debt free journey and to say congratulations on understanding YNAB. I am still struggling, and hope that I will 'get it' soon. I'm not prepared to pay the subscription if I can't understand it after 1 month!

Am subscribing to your diary so will pop in occasionally to offer words of support.

Tx

Thank you for your lovely reply. I really do appreciate your words of support.
To be honest I struggled with YNAB myself to begin with. Have had 3 separate free trials using different email addresses and couldn't make it work for me. This time I've changed the way I'm handling the overdrafts, in that I've added them as a debt that needs paying off and it has suddenly seemed to 'click'. I now have a balance that I can budget with, rather than the budget being a minus figure all the time. Hard to explain in writing so I'm not sure if it makes sense but I would say just keep 'playing' with it until it works for you.
I too wouldn't have considered paying for it until I was sure I was going to get my money's worth out of it. Still got a few weeks of this trial to go but I think I will now be investing in it once my free trial has finished :j

joedenise

Couldn't recommend YNAB more. It's definitely worked for me.

Denise

Debtfreein5yrs

Had a bit of a 'spendy' day today. Went out for lunch with a family member who I don't get to spend enough time with. Had a lovely meal sat in the sunshine. Total cost was £13.20 which I paid as it was my turn. Won't break the bank and it was worth every penny for the quality time that we had together. It was also budgeted for out of the 'fun money' spends that we now allocate to ourselves each week

In addition this morning I found that one of the direct debits that came out overnight was actually £4 less than what I budgeted for which was a nice surprise. That's another £4 now paid off overdraft number 1.

OH's weekly wage will go into bank overnight tonight so I can then start budgeting for next week. Actually enjoy doing this now