3 years and counting down!

CeCe56 · 12 December 2018 at 9:49AM

After trying to get a handle on my debts for a good while I am writing this to properly keep myself on track this time. From that statement you will gather that I've tried before. I have not been totally unsuccessful and my debt hasn't increased for a year or so. In fact I made a big effort last year to record and track my debts and spending which has obviously helped as I was reassured to see that my total debts have reduced by £3000 since this time last year.

What prompted me to take further action now is my £2000 overdraft which I have fortunately managed to switch to an interest free money transfer deal. I realised I would be paying around £300 or so a year in interest if I didn't take action and psychologically looking at the overdraft is a massive drain. I plan to have paid the money transfer off in a year. It's arisen through overspending and choosing to turn a blind eye to the reality that I could not actually afford whatever it was I was spending money on.

I do pay more than the minimum on my other debt and if I can stick to this I will be debt free in 3 years. Plus my mortgage will be paid by then also.

This does mean money is tight right now and I don't have any savings but I am determined this time to keep going.

That's all for now. There's lots more to my story as I'm sure is the same for eveyone.

Back again soon.