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So what's next?

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I have recently started to address my debt, it is definitely manageable at the minute but I have a lot of uncertainty regarding jobs at the minute and am due to be made redundant in September. I have figured out how I intend to proceed with repayments either way but feel like writing this diary will make me a bit better at sticking to my plan! Plus any advice that people can give will be appreciated :D
Currently I have a loan with 38 payments left at £295.57, a Tesco CC which is rapidly nearing the end of my 0% offer with £2556.40 and 2 other CCs with BT offers ending in June 2019 with balances of £2356.69 and £3255.30. The plan is to pay off the Tesco CC, then attack the other 2 and finally overpay the loan when all CCs are done (then think about the mortgage!), this plan only works if I find a job however otherwise, I intend to still have paid off the Tesco card by September and then stretch my redundancy payment with minimum payments until I find work and can start repaying again.
I have already started to address my overspending- food, particularly lunch at work, clothes and shoes seem to be my weaknesses so I am taking my lunch to work and have deleted my shopping apps from my phone.
17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
Emergency fund - £977.43
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Comments

  • onedaysomeday
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    Good luck with everything and fingers crossed a job comes up for you :D x
    Just trying to make up for past mistakes and work towards the future I want :hello:
  • beanielou
    beanielou Posts: 90,983 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
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    Happy shiny new diary :)

    Hope that you get a new job really soon.
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

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    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.

    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
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  • Dragonpie
    Dragonpie Posts: 126 Forumite
    First Anniversary First Post
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    Thank you both.

    Last 24 hours have been a bit up and down - I had a job interview this morning which seemed to go reasonably we!!!314;l but last night my mobile phone appeared to give up charging so I ended up ordering a new one, although I will be selling my current phone as the main issue is the short battery life and other than that is in good condition, it still mean that I have spent money that I hadn't intended to!
    17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
    01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
    Emergency fund - £977.43
  • Dragonpie
    Dragonpie Posts: 126 Forumite
    First Anniversary First Post
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    Things have already changed a lot since I started this diary... I have a job! It is for the same business so no redundancy payout but wages will be increasing slightly. The aim is still to get the Tesco card paid off by September and then I will be setting up direct debits for the amounts needed to pay the other cards off by the end of their 0% periods. All being well, I should still have a bit of wiggle room in my budget but have the cards paid off without interest.
    17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
    01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
    Emergency fund - £977.43
  • Dragonpie
    Dragonpie Posts: 126 Forumite
    First Anniversary First Post
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    PS I am also planning on trying to earn a little bit extra by selling DVDs, CDs and blu rays as well as a few dresses from a brand which usually sells well on eBay.
    17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
    01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
    Emergency fund - £977.43
  • Dragonpie
    Dragonpie Posts: 126 Forumite
    First Anniversary First Post
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    There has been a hiccup in my plan! I naively assumed that MBNA would pay any funds to the balance transfer with the 0% offer ending soonest meaning and unexpected £20 interest. The offending balance has now been transferred to my Tesco card meaning an increase of about £1180 on the Tesco balance and a decrease of £1130 on the MBNA. I'll chalk this down as an expensive lesson learned!
    I've also learned that I cannot be trusted with a credit card for day to day spending, even if I do get rewards. Today I have deleted record of theCC on all online shopping which I regularly use and from tomorrow the card is staying at home and I will withdraw my budgeted spending money and keep in envelopes.
    17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
    01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
    Emergency fund - £977.43
  • Dragonpie
    Dragonpie Posts: 126 Forumite
    First Anniversary First Post
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    I am still struggling to stick to a budget but I think I am improving! I am allowing myself £20 each week for spending money and £40 each week for household spending, I have just spent nearly £50 at Iceland but that should provide me with all the protein (meat,cheese and eggs) for at least a month so am hoping to only spend £20 each week on top up foods. I also went via Quidco for my Iceland shop and used a £5 voucher
    17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
    01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
    Emergency fund - £977.43
  • Starmummy
    Starmummy Posts: 537 Forumite
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    Good luck Dragon. keep up the good fight and congrats on the job
    debt consolidated 16/8/18 £9,788.01/£12,618.12 :( (Total debt at LBM 1st Jan '18 c..£19.5k)
    EF/FIT savings £97.24 Other Savings £12.17 House Deposit £4,762.64/£20,000 23.8% :D
  • Dragonpie
    Dragonpie Posts: 126 Forumite
    First Anniversary First Post
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    Thanks Starmummy. :-)

    I'm aiming for a NSD today, I prepped my lunch last night and have empty water bottles to fill in my desk drawer, fingers crossed!
    17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
    01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
    Emergency fund - £977.43
  • Dragonpie
    Dragonpie Posts: 126 Forumite
    First Anniversary First Post
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    I was sooooo close to a NSD, until I got a message telling me that we needed tortoise food! Only 50p but still not a NSD. Still an improvement on the £10ish that I used to spend though and I can always try again tomorrow.
    17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
    01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
    Emergency fund - £977.43
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