I'm getting there

jemmalucy

Just wanted to post this somewhere because I'm pretty proud of myself but don't talk about money to those around me so I'm just currently being internally proud:o:rotfl:

I got myself in a bit of a mess when I went off to uni. I had a bank account with an interest free overdraft of £500. When I hit that £500 (pretty quickly), they increased it. When I hit that, they increased it again up to £1800. I also took out a credit card which I had spent about £3000 on.

So I've been minus nearly £5000 since about 2013. I pay the monthly payments on my credit card and when I started working full time after graduation I did often get out of my overdraft just about, but never enough to not go back in it.

Well, after finding myself in a bit of a situation my mindset has really changed this year. I knuckled down and within just under two months, I was out of my overdraft! For the first time in years I actually have money in my bank account! :eek:

Now I'm just super motivated. With the way my payments are on my credit card are at the moment, I'm looking at at least a year until I pay that off too BUT I'm on my way! I managed to haggle cheaper interest rates and now I have just over £2000 left to pay off.

:beer:

[Deleted User]

Congratulations on your progress that is great, keep up the good work and you will be rid of the remaining amount before you know it ��

engineer_amy

Its a great sense of achievement when you clear each part of a debt, isn't it?


Well done on getting the interest reduced on the credit card, but how about trying to get a 0% balance transfer? then all of your payments will be going to reduce the £2k with no interest added, and you will get it cleared faster. There are plenty of eligibility checkers so you would have a fair idea if you will be successful.

Sanctioned_Parts_List

Didn't want to read and run - well done on progress to date.

As Eng. Amy mentioned above, take a look at the eligibility tracker on this site, or use some of its other tools like the credit club. Every % shaved from the interest rate translates to weeks of making savings instead of debt repayments - that'll help grow your LISA faster

Mnd

Well done, you have done well, and your mindset seems good

Pip_Boy_111

Hi, well done on your progress. I know once me and my wife changed our mindset about debt it became quite addictive watching the figures start tumbling. It's almost like a game now:rotfl:

Turningpenniesintopounds

Well done, jemmalucy, you definitely should be very proud of yourself for all that you’ve achieved so far. Onwards and upwards x