This Duo's debt free journey

Willowtree222

I love snow too, but only when I don't have to get out in it. If I just need to be at home, I think it is amazing. When I am being pressured to get into work, I hate it. x

DebtFreeDuo

I completely get that, today all the bus services have been cancelled and tomorrow all the schools in the city will be closed. I live in a big city so its going to be chaos tomorrow if the snow doesn't disappear overnight, there is tons of the stuff so its unlikely.

117pauline

That is a fantastic mark for your assignment and its all down to you.

We have snow here too but it very wet if you know what I mean. I walked into the town this afternoon because I am determined to get out and about. I treated myself to some more grapes. I saw a tuft snowman on the way - very impressed and it made me smile. One of my blackbirds shook itself in a very fed up manner.

I hope you are both feeling better. Take care honey
Pauline

DebtFreeDuo

I feel like I have buried my head a little recently and that I am slipping. Today I have decided that I need to just get over the last few months. I have been feeling down about a couple of things, uni particularly and even debated dropping out. Today I have decided to put on my big girl pants and get the hell on with things. This meant starting some work that I have been putting off and also looking at my finances. These are the two biggest things for me right now, everything else can sort itself out.

So after I adjusted my budgets for the year I didn't include the additional overdraft usage in my debt totals, I also haven't included the student finance overpayment (I did have this in a separate account but when they told me they weren't going to ask for it back right away I thought I would put it to use and paid off part of the car loan so it wasn't wasted). Today this all changes, I am including every penny of my debt, I feel like today I may have had my true LBM.

So here we go:

Loan: £1780.49
Car loan: £2039.22 - will be cleared January
CC: £984.98
Overdraft: £860
Overpayment: £1781 - this will go into a savings account until they ask for it back.

Total: £7445.69 :eek:

I always knew this in my mind but writing it here certainly makes it more real. My overdraft will decrease in January but will build up again, I don't anticipate clearing this until April which I am fine with as I will truly be learning how to budget which I feel is much more important than trying to pay off the debt as quick as I possibly can. My DFD remains the same (Dec 18).

Some things I am doing over 2018:

Pay for birthdays and Christmas with vouchers from surveys Currently on £10.80 and waiting on £100.
Sealed Pot Challenge Currently have around £150 in there and will be putting all extra income in (ebay, cash surveys such as PA). Whatever debt isn't cleared when I open the pot should be cleared with this.

HairyHandofDartmoor

I'm really glad you've decided to stick with your course. You are obviously very capable as your recent excellent grade showed and it could be the key to a future well paid career for you .

I think acknowledging all the seperate components of what you owe is helpful as that will give you a true picture of your situation. You are right that learning to budget is VITAL and you are learning that skill. It will pay off, but everything takes time.

I'm slightly envious of your snow, but as I had a lot of chores to do today it's just as well we haven't got any. We had lovely sunshine instead, but a cold wind .

DebtFreeDuo

Thank you Hairy. I'm feeling very determined at the moment which is great this side of Christmas as it should help me stick to my budgets this month.

The snow is wonderful, its still not going anywhere and schools are closed again tomorrow. I am lucky that I have been able to avoid going out in the car, my road is still completely covered!

pineconesjay

Hi DFD,
good to see you're going to continue with your studies.
I'm cheering you on to your debt free date, and hoping it comes even sooner than you expect!

DebtFreeDuo

Thank you pineconesjay, I'm really not too bothered about bringing my DFD forward at the moment, I feel that being more realistic about my budgets an sticking to them is the most important thing at the moment. As long as I am debt free by Dec 18 then I will be very happy.

117pauline

I think you are right to look for a debt free method that suits you even if it takes a while longer. But if you stick to it you will be debt free by next December, make it tougher and you probably won't get there at all.

Everyone doing courses gets the why bother times. I am really pleased you have found your motivation again.

Have you and the little one been out enjoying the snow?
Take care
Pauline

DebtFreeDuo

Thank you Pauline. We have been enjoying it as much as we can, DS doesn't like being out in it for too long, he starts complaining that he's cold. I think he is ready to go back to school now before the Christmas holidays start.