Not in control

drownindebt

I balance transferred my balance transfer card. Two reasons: just one credit card to pay down with one lot of interest and also, it is more visible (now having all my credit card debt).

I cleaned out the shed a bit yesterday. A few things to run to the tip.

Pay day next Friday. I've allowed £150 for personal expenses which I'm going to put on a Monzo card prepaid. Then my current account does just bills. I'm worried I'm not putting anything in savings, only in repayments, but hey ho.

Also, I'm sad I can't buy what I want right now. I've just joined a cycling club and can't buy their team kit. I also don't look smart enough at work and can't do anything on that front, though I'm happy I've realised that premium clothes just don't function better (expensive jeans are now coming apart). Stuff in hm is £20 each - that'll do.

I've spent on my credit card the rest of this month. I'll hide it once pay day comes.

No move on house fixing but I haven't got the money to do it anyway. Please don't let the ceiling fall in!

drownindebt

Last time I posted, I had: Credit Card: -£2598.23 / Personal Loan: -£18,093.67
3 years later, where am I now? Credit Card: -£324.87 / Personal Loan: -£6,327.24

Consistency wins. I was paying off £500 per month on my CC and got it down to zero last month. There's only a balance on there because we had a brief trip this past weekend, but I can pay that off over the next two months no problem.

Personal Loan is coming down. I can't believe where I was and where I am now. Est. completion date FEB '22 at £341.39 per month.

The chief priority now is to create emergency savings. I read the advice a number of years ago that you shouldn't create savings if you have debt. I now disagree. You can manage debt and reduce it over time, but you NEED emergency savings in case you lose your job. Which is likely in this current COVID-19 climate.

I check-in with my finances nearly every day. I do have a number of accounts, but they each have a role. I'm now looking to take on more responsibility and share some of the bill admin, now that I'm starting to redeem myself. 

Thank you everyone for the support. I feel that I'm much better at this, even more informed and now investigating how I can create more savings every month. I'll try and not leave it another 3 years to update!