Are we nearly there yet?

enthusiasticsaver

Sounds like a lot has happened over the last few years but debt coming down nicely. I would focus on really thinking whether you need all those extra monthly payments. Are YNAB and Adobe necessary and really so expensive? Are they cheaper paid up front rather than pay monthly. Do you need the play therapy, whirli and whatever !!! is? I find that eliminating the small spends really makes a difference. Your water rates are very high. 

Pauper1

Weeeeeell... Nearly four years later and I'm up !!!!!! creek again. Reading those last posts is so frustrating cos I was doing so well 😭

Anyway, changed job, moved house, had another baby, maternity leave, burnout... All of those things have me at a crazy level of debt again.

However, in those 4 years I have realised that I have ADHD as do 2 other members of my family, which explains the inability to stick at anything, compulsive overspending, executive disfunction when it comes to life admin etc

So I'm going in to 2025 understanding myself and my limitations better. 2025 will be knuckle down, be kinder to myself, bring in peace...

Pauper1

God.

I've just added it all up. Can't believe I've done this to myself again!

CC1 £2044.03 40.19%

CC2 £430.21 30.34%

CC3 £1338.12 30.34%

CC4 £1047.82 23.29%

CC5 £221.12 41.94%
CC6 £2497.56 33.58%

Loan £2242.80 15.13%

Next £1523.24 24.9%

Total: £11344.90

As if I've got SIX credit cards as well 🤦

Pauper1

Oh hold on, I've forgotten two things as well.

The PRA loan is still ticking along but as it's 0% and off my credit file I'm not massively bothered about it at the moment. Definitely not a priority anyway. £3733.66

And my Currys finance is £463.96 at 29.9%

Tbh that and the loan can wait as they are fixed amounts and the interest isn't the worst. I need to focus on the credit cards as they are crippling me. I'll start with CC1 as it's the one accruing the most interest every month. I think CC6 is the highest payment each month though.

I don't have anything left over each month but I have cancelled some subscriptions, and will rein in my coffee and parking spending. I use Snoop and it's just told me that I spent £4k over my income last year 🤦

Budget coming up...

MFWannabe

Are you able to get a 0% or low interest balance transfer card? Have you checked on the Eligibility calculator? 

Pauper1

MFWannabe said:

Are you able to get a 0% or low interest balance transfer card? Have you checked on the Eligibility calculator? 

Thanks! I haven't looked for a little while and I imagine my rating is shot to bits, but it's worth a try!

MFWannabe

Pauper1 said:

MFWannabe said:

Are you able to get a 0% or low interest balance transfer card? Have you checked on the Eligibility calculator? 

Thanks! I haven't looked for a little while and I imagine my rating is shot to bits, but it's worth a try!

Always worth a try 🤞

Pauper1

I couldn't get anything, 0% or otherwise, which I was expecting TBF

Anyhoo, budget...

Income from various sources is £1692.70

My biggest expenditure category is debts:

CC1 £130.57
CC2 £21.42
CC3 £79.39 
CC4 £31.15
CC5 £36.22
CC6 £182.80
Loan £58.39
Next £81
Creation £32.02
PRA £50
Family loan: £150
Total: £852.96 

Wow. Wow. Wow. Wow. I hadn't actually realised just how much was going on all those payments each month. Omg.

Okay. The rest of my bills are £327.39, setting groceries at £400 and diesel at £30, brings me to £1610.35. Which gives me £82.35 to either try to pay off something, save for birthday presents, car MOT, etc etc

I'm sure I've forgotten something too. Will keep a better track in Jan and then can adjust my budget. But I know I need to bring in more money, that's the only answer really.

Pauper1

It's a new year! 

My goals are to lose 61lbs, reduce my debt by 50% (which is quite possibly impossible 🤣) and get the house in order. There's a few more little ones along the way but they are the biggies.

So January...

20 NSDs
£168.75 to make for £2025 in 2025
£31 for a PAD
£4.96 for 1p savings
£400 grocery challenge
Lose 5lbs
Sort out the under stairs cupboard

Edited to say that I have paid £1 to CC1 and opened a Monzo account to put 1p in 🤣 hopefully they will start the challenge soon because I couldn't see anything that said they would automatically do it...

Pauper1

Just completed my first Prolific survey in years, had £7 in my balance and £8 on the new survey, so have cashed out £15 🙌

I need to do my meal plan and then add anything I am missing to my Tesco shop for tomorrow. I do need to get dressed at some point too haha