500 days to debt free-achievable????

ChasingSunshine

Thats a nuisance about still being in contract especially if it is one that doesn't suit your usage. You might not need to turn off data completely, turning off mobile data for most apps as well as stopping background refresh etc might be enough especially if you have access to wifi most of the time.

One of the snowball calculators is this one ttp://www.whatsthecost.com/snowball.aspx Can put in debts, apr, length of 0% deals etc and how much you can pay and it tells you when you will be debt free. Depending can change figures around and see how impacts end date.

Good luck with the personal spends budget. Be careful that such a cut isn't unrealistic, ideally the budget should be realistic and something you can live with without feeling too deprived and then can't stick with it.

500daysaway

Thanks CS for the link.
Paying the amount I think I can afford is saying I will pay off the amount in 19 months, two months over my target. I have applied up transfer my Amex balance 0% onto virgin card, I hope that gets approved and then the money can go straight to the debt.
I am worried that £260 a month might be enough but can’t take the anxiety associated with the debt any longer so need to tighten my belt and make it work for the next 19months.

500daysaway

So 19days till first pay day and have managed to have 3 NSD’s in a row! Unheard of for me.

enthusiasticsaver

Can the Amex and Santander be moved to 0% or are you too over committed now? If you can do that I would target the overdraft first as that is expensive and repayable on demand.

enthusiasticsaver

Sorry just seen you have applied to move Amex. Paying off debt is a long game - there are no short cuts so you do need to be aware of setting unrealistic targets where you blow the budget and just give up. No harm in starting off optimistically and adjusting. I am a fan of budgeting, saving for things and reducing debt at the same time. Cold turkey on the credit cards. Have you cut them up or put them away?

500daysaway

Hi enthusiastic saver have applied to virgin for 0% to transfer all of Amex to 0% as have enough of balance on card just waiting to hear from them though

500daysaway

I have never had a card for barclaycard or virgin as cut them up as soon as I they arrived. The Amex has been put away and only got the Santander in November for foreign travel. If I can get the Amex transfer will may as much to Santander as possible this month and minimum payments on other cards

enthusiasticsaver

How are you dealing with the overdraft and what are the monthly charges?

500daysaway

I have been reading debt free diaries religiously over the past few days and they have been giving me lots of inspiration but lots of people seem to have unexpected windfalls which will never happen to so I am a bit worried that I will never see the light at end of tunnel ��

500daysaway

Enthusiasticsaver, I’m not dealing with overdraft at moment was hoping to get Amex and Santander dealt with then overdraft. Using the snowball calculator that seems to be way forward too.