Working Hard Debt Diary - Here goes

lucielle

Sound like you are going to be busy. You just need to hang onto Hypnos coat tails!!!
L

WorkingHardDFW

Thanks L it does doesn't it!

£400 a month was easy when I could work extra days but now that I am doing that it doesn't seem quite so easy. However I like a challenge and that is certainly what I've got..

Compingirl

Hi WHDFW and Happy New Year!

Ive been an avid reader of both yours and Hypno's diaries over the past year and am in a similar situation to both of you. Infact, i'd go as far to say that its your 2 diaries that gave me hope that large debts can be tackled and gave me resolve to face up to my own debts and work out a realistic budget that the entire family can stick to.

Anyway, just wanted to say Hi and wish you well for 2009, I'm sure you will achieve your goals and this time next year you and Hypno will both be debt free! just hope i'm not far behind you lol! compingirlx

WorkingHardDFW

Thanks Compingirl - blimey praise indeed for which I can only say thanks.

Tackling debts is a real journey and at times it has felt wonderful and at others horrible. I've learnt something every step of the way and I still am.

My biggest challenge is to find the extra £400 a month to get debt free by the end of the year....

I'm working on it!

WorkingHardDFW

Productive day back to work after the Christmas break. Good to be back in the routine again.

DS2 started school yesterday. He looked so cute I felt quite emotional all day...


Ok back in the of DFW this £400 I need to find each month. My back of envelope cals whilst I was at swimming lessons yesterday with the DS's were as follows:

£40 pm mystery shopping - this is a tall order since I usually only get a couple a month but I've registered on a load of new sites so one a week would be good

£100 pm ebay/amazon/green metrolpolis selling - again I've not got any high value items to sell but lots of little bits. Again this will take a lot of effort to generate £100 pm. It can be done though I am sure

£10 pm cashback sites - Again I've got a lot tracking with Quidco at present (£160) although I've just renewed my car insurance but not via cashback as the best quote was below what i would get back.

£50 pm matched betting - this is a stab in the dark since I've not done this before so is probably the most guessed amount!

£30 pm budget reduction across the board. This is shaving a little of most of them (sometimes only a £ or two to add to the debt fund)

£50 pm salary increases - I'm due an annual increment in the summer and OH is due a review. My is a given (public sector) but OH's isn't in these climes. OF course this is also a mid year increase!

£30 pm credit card tarting and reducing interest payments. Again this needs to take into account the BT fee's etc and me plucking up the never to apply for a 0% card.

As you can see all of this effort doesn't get me an extra £400 per month, about £310 per month which is still great! Whats the worse that could happen we get to the end of 2009 owing £1400 in debt rather than being DF. I'd still give my eye teeth (or whatever the saying is :rotfl: ) to be there in 12/09.

MissOptimistic

Really look forward to reading your progress, and as you say, even if you don't achieve the DF this year, you won't be far off!

WorkingHardDFW

Took the plunge and applied for a 0% credit card with Tesco. Even allowing for the BT fee that will reduce the interest on the highest rate card from a very scary 16.9% £91 in interest per month to a big fat 0%!! Online with was Ok'd (which I was quite amazed) but we'll see if it actually comes through.

lucielle

Good luck with the 0% card. Hope it comes through for you.
L

WorkingHardDFW

Just had a phone call from Tesco PF asking me a few questions and then I was told the CC was approved. Still can't quite believe it but I'm not going to argue. I need to work out what this will save me..........off to do this now!

lucielle

Woo hoo that is marvelous news. How long is it 0% for?
L