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Debt Free Year

edited 10 December 2019 at 10:08PM in Debt Free Diaries
3.2K replies 238.6K views
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  • NicnakNicnak Forumite
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    Yesterday wasn't as good as it could have been.

    I had £30 in my purse so went food shopping. I had a goal of £20 as I just needed the basics.

    I went hungry, which is never a good idea, and with my child, also not a good idea.

    She doesn't get everything she wants, she was just asking for strawberries and raspberries, which were quite expensive. I could have said no, but bought them instead.

    Shopping came to £34

    Some of that was me being hungry and not using my head.

    Next cash shopping trip will be a list for the hubby till I can safely go in and do what I want to.
    September 6th 2017 - Updated December 2019
    Credit Card £0 now: £0 Consolidation £15,000 = £5,362 Total = £25,330 :(£5,362 79% gone EMF #252 = £1300/£1000
    Pay off all your debts by Christmas #071 = 2020 = £4400.90

    Decluttering target 2361/3500 items
  • NicnakNicnak Forumite
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    Last night I set up a standing order on my account to pay a little more off my loan each month.

    I put the £50 I made off the bracelet Off it as well. It doesn't look like it has gone down much at all, but I guess if I keep doing it then it will make a difference.
    September 6th 2017 - Updated December 2019
    Credit Card £0 now: £0 Consolidation £15,000 = £5,362 Total = £25,330 :(£5,362 79% gone EMF #252 = £1300/£1000
    Pay off all your debts by Christmas #071 = 2020 = £4400.90

    Decluttering target 2361/3500 items
  • NicnakNicnak Forumite
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    Yesterday I made an error.

    I was down to meet my friend for a drink. I decided not to do that to save money. Instead, I invited her here, went to Lidl and got a few bottles of wine and some snacks.

    It cost £42. I'm pretty sure I could have gone out of cheaper than that. I've got some food and snacks left, but I was not expecting it to come to £42.

    The last few times I've been shopping, I've noticed the cost increasing on products. It makes all of this more difficult.

    I think, in order to avoid this in the future, I'll need to weigh up the cost of each. If I would have drove, I could have managed this evening for £10.

    Huge lesson learnt. Look into things in depth. I've spent £30 more than I wanted to.
    September 6th 2017 - Updated December 2019
    Credit Card £0 now: £0 Consolidation £15,000 = £5,362 Total = £25,330 :(£5,362 79% gone EMF #252 = £1300/£1000
    Pay off all your debts by Christmas #071 = 2020 = £4400.90

    Decluttering target 2361/3500 items
  • NicnakNicnak Forumite
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    NSD Woohooo

    After yesterday, it was needed. I'll need fuel on Wednesday this week, but other than that, hoping for another few NSDs.

    I did the demotivater as well. I looked at little things as I think I have stopped the big things. It's amazing how the little things add up to huge amounts over the year.

    I'll just keep working on it. Slow and steady as they say.
    September 6th 2017 - Updated December 2019
    Credit Card £0 now: £0 Consolidation £15,000 = £5,362 Total = £25,330 :(£5,362 79% gone EMF #252 = £1300/£1000
    Pay off all your debts by Christmas #071 = 2020 = £4400.90

    Decluttering target 2361/3500 items
  • NicnakNicnak Forumite
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    How do people get out of debt?

    I'm two weeks in and already feeling disheartened by how hard it is and how long it will take.

    I have a condition that sometimes makes me feel !!!!, and today is one of those days. I just waste money because I want to feel good and look forward to something.I have to break this cycle. I have already promised myself that this is my last year of working the job I am working.

    Either I make this work, or I spend another year battling with my health and work and feel guilty because I don't get time with my daughter.

    I feel so angry at myself and so helpless at the same time.
    September 6th 2017 - Updated December 2019
    Credit Card £0 now: £0 Consolidation £15,000 = £5,362 Total = £25,330 :(£5,362 79% gone EMF #252 = £1300/£1000
    Pay off all your debts by Christmas #071 = 2020 = £4400.90

    Decluttering target 2361/3500 items
  • NicnakNicnak Forumite
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    I have a Tesco loan at £7500, and a 0% credit card for 37 months at 6k.

    Is it worth transferring as close to the 6k as possible into the 0% Apr credit card? I'm paying 3.2% interest on the loan.
    I'll be paying some off one and some off the other for a few months, but I guess it makes more sense to pay no APR.
    September 6th 2017 - Updated December 2019
    Credit Card £0 now: £0 Consolidation £15,000 = £5,362 Total = £25,330 :(£5,362 79% gone EMF #252 = £1300/£1000
    Pay off all your debts by Christmas #071 = 2020 = £4400.90

    Decluttering target 2361/3500 items
  • DebtFreeDuoDebtFreeDuo Forumite
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    Nicnak wrote: »
    I have a Tesco loan at £7500, and a 0% credit card for 37 months at 6k.

    Is it worth transferring as close to the 6k as possible into the 0% Apr credit card? I'm paying 3.2% interest on the loan.
    I'll be paying some off one and some off the other for a few months, but I guess it makes more sense to pay no APR.

    If its going to save you money then go for it, as long as you can still pay it off within the 37 months you have at 0%. You will have a penalty for paying back early and a balance transfer fee usually but I imagine the savings on the interest will be bigger than this, give Tesco a call and find out how much they will charge, plus the balance transfer fee against the interest saved on the loan.

    This debt malarky is hard, be gentle on yourself and just try and remind yourself that after you have achieved your goal then you will be able to make yourself feel better with money that is all yours and you won't have any debt hanging over you whatsoever.
    Change the way you see things and the things you see will change
  • Nicnak wrote: »
    How do people get out of debt?

    I'm two weeks in and already feeling disheartened by how hard it is and how long it will take.

    I have a condition that sometimes makes me feel !!!!, and today is one of those days. I just waste money because I want to feel good and look forward to something.I have to break this cycle. I have already promised myself that this is my last year of working the job I am working.

    Either I make this work, or I spend another year battling with my health and work and feel guilty because I don't get time with my daughter.

    I feel so angry at myself and so helpless at the same time.

    Hi I think you've been doing great so far. It is hard and painful but if you can get into it you will change your entire life.
    You really need your partner on board, it will be so much easier with both of you pulling in the same direction.
    Car wise, I was £5k in negative equity on a pcp. I put it on a 0% card then sold the car back to the garage it came from. Then I bought a decent 10 year old car. Honestly, doing this was the best move I made.
    Build up £1k in an emergency fund, then do a budget and stick to it - religiously. I had never done a proper budget in my life before but it makes so much difference.
    He's not everyone's cup of tea, and it's very American but Dave Ramsey definitely changed my life.

    https://m.youtube.com/user/DaveRamseyShow

    All the best and keep going
    When you get to the end of your rope, tie a knot and hang on :wink:
  • NicnakNicnak Forumite
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    Thank you,

    I feel totally useless for getting like this, and being so passive for 25 year.
    I feel like my daughter is suffering because I can't afford to work part time.
    September 6th 2017 - Updated December 2019
    Credit Card £0 now: £0 Consolidation £15,000 = £5,362 Total = £25,330 :(£5,362 79% gone EMF #252 = £1300/£1000
    Pay off all your debts by Christmas #071 = 2020 = £4400.90

    Decluttering target 2361/3500 items
  • Get rid of the car, even if you have to borrow £5k to do it, and you've turned -£25380 into -£12930 that's nearly halved it. You can then start using the £351 car payment to attack your remaining debt.
    You could pay off £12k in 3 years with the car payment alone.
    When you get to the end of your rope, tie a knot and hang on :wink:
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