My journey to becoming debt free in 2018

System

stinabean wrote: »

Well done and welcome - wish I learnt my lesson at 22 :rotfl:

As previous, SOA would be useful. Your wage sounds amazing to me but I imagine your outgoings may be higher Here to help!

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I'm pretty lucky to have a great job, I don't really enjoy it but it pays well.

My outgoings are actually only around 60% of my wage, but I plan on hopefully changing jobs in the coming months so I'm just putting money away for when I drop wages. I will overpay the debts though, and likely get it done quicker! But if I can't, that's my absolute lowest I'll pay.

I'll get my SOA done this weekend, for sure! Thank you

System

Hey guys, so I've not updated this in over a month. I've just got back from holiday and am feeling pretty happy with my journey thus far.

I have knocked off the Nationwide, NatWest and Vodafone debts.

I currently owe £1677 in total (down from £2,536.42 in March). So I'm down from 6 debts to 3, which I'm very pleased with. I will continue my journey, hopefully overpaying when I can (I'm having a lot of private dental work at the moment, so spare money is hard to come by it seems).

Here is how my chart stands as of 30th May 2018.


For anyone interested, this is how I build my charts etc:
http://www.whatsthecost.com/snowball.aspx

I also have been keeping a record of my credit score, I have 7 defaults so it's pretty rubbish but it's going up due to me paying stuff off - this is all I wanted and more! Looking forward to October 25th (at the latest) when I become debt free!

enthusiasticsaver

Getting there. Well done.

System

It's nice to watch your credit score slowly rising instead of decreasing, once I've paid everything off I might send a few letters to see if I can get any removed as a goodwill gesture as I've read a few people have had success with this.

We'll see, there are lots of things to do in the coming months with work/debts/dental etc.

System

I've worked out some figures, I should pay off my dental work this month (or next latest) then I'm all in with paying these debts off. Looking forward to seeing £0 owed and my credit score slowly but surely increasing.

I cannot stress enough, I've let these debts hang over me (albeit not much, but the debt was still overlooked) since 2015. I should've paid these off before the default happened, or at least when I first got on an affordable wage, but I didn't. It feels so, so nice to see that number drop every month, and to watch my credit score slowly increase. This feeling has been 3 years overdue, I've had months where I've paid one thing off and just left it the next month... but now it's nice to really do something about it.

System

So I've not posted in over a month, but this is where I stand now:



So that's Natwest, Vodafone, Nationwide and Wonga now gone

4/6 so far, definitely feels good to owe less money. My credit score has slowly gained a little traction, so I'm definitely pleased so far.

System

So next week half of my EE balance will be gone, would've liked to have done it all next week but unfortunately, I had an unexpected payment come up yesterday.

But on better news, after next week there's only a maximum of 3 months needed to pay everything off!

Starmummy

well done. keep going.

Try to keep a diary of your spending going forward, it may help stop these 'unexpected' payments coming out. It would be so frustrating for you to pay off these debts only to become unstuck because you haven't addressed your money habits.

Take care

SM

System

Starmummy wrote: »

well done. keep going.

Try to keep a diary of your spending going forward, it may help stop these 'unexpected' payments coming out. It would be so frustrating for you to pay off these debts only to become unstuck because you haven't addressed your money habits.

Take care

SM

I certainly will!

Quite enjoying paying it off, gives me something to look forward to at the end of the month.

System

Also just realised having £150/200 on my credit card is obviously bad, so paying off £100 this month to try and boost my credit score a little.