Focused on breaking the debt chains

laurarutter89

Payday tomorrow

Going to pay £10 tonight to Lloyds which will bring the balance down to £3606.83 then tomorrow as soon as my pay goes in im going to pay £300 to it!

Im thinking that even small extra payments are good because i didnt get into this debt jusy buying one thing, it was little amounts here and there that added up.

Im going on holiday in November - just a cheap week away in europe so i am going to save my second job money for now which is £78 a month, towards that and my husbands birthday in september and also Christmas.

I will not add to my debt ever again now so really need to be saving at the same time!

DebtFreeMonkey

I'm looking forward to payday tomorrow, too, just to pay some things off! It's kind of addictive seeing that debt balance go down! Haha.

Sounds like you've a good plan RE the Europe trip. I was debating whether to get a part-time job but I already work 30+ hours a week, plus I'll be starting a full time MA. I think another thing might push me over the edge and spread me too thin to do anything well...but I'm still debating.

laurarutter89

Hi Alicia1804,

Yes it is super addictive, before i would be looking for things to buy but now im trying not to buy anything so i can pay my credit card instead.

I completely understand what you mean, and it isnt easy. Im working 11 hour days at the moment in my full time job and then working 2 sundays a month in my second job. But.... it feels worth it on payday, and means i can pay off debt and save at the same time.

Think about it a lot until your certain because its draining working so much!

laurarutter89

So last Friday was payday and I did exactly what I said I would and paid £300 off of my Lloyds credit card

The balance is now: £3,306.83

Also I have my husbands birthday next month and im trying to be organised so i can get the things i want but in the sale or with money off codes!

Its going well so far, and i ordered the fragrance he wanted today going through top cashback first which got me £3 and then i got 10% off.

I already have saved the money for his gifts so no adding to debt this time for me!

laurarutter89

I also forgot to add that my £100 came back from my sold concert ticket so i have put that to my savings for now as its going to take a hit due to husbands birthday.

Also get paid from my second job tomorrow going to save it as im worried about not having an emergency fund.

laurarutter89

Nothing to exciting to report at the moment as have to wait until payday again to see whats left and then make my next big payment

So tonight i have applied for an MBNA 0% balance transfer deal for 26 months with just a 1% fee to transfer (found it thanks to Martin Lewis), because a huge chunk of my Lloyds is very close to coming off 0% and i will not have it paid in time.

Seeing as this credit card transfer deal was so good i thought it was wise to do it now, i have only moved £2800 of it because the rest i can pay before the 0% ends, i dont want to move anymore than needed and pay more fee.

I am being really good this month in hope to have some left before payday to make an extra payment to LLoyds.

And also Loan payment came out of £277.46 on 1st september so balance on there is now £4719.88.

Total debt now: £8026.71

laurarutter89

I thought it was time I updated and finally see this debt journey through to the end. 

So despite being terrible at updating I have not fallen off the wagon, and i have been knuckling down clearing my debt. 

I paid off my loan in January after i received my annual bonus from work. 

This now leaves me with just the last part of my MBNA Credit card which is 0%, standing at £1,900. 
I never thought I would ever get to this point, but it feels amazing. 

Paying off my loan frees up £277.64 per month to go straight to my credit card, and also with not spending any money at the moment due to the current situation I can pay more off. 

I have managed to save £1,000 emergency fund aswell, and I am due some refunds from a holiday and concert tickets which I am going to save half and pay half to the credit card. 

Feeling very postivite at the moment and will continue to update as soon as possible. 

outoftheviciouscircle

Well done. I started my diary yesterday with a similar amount of debt to what you started with. I hope I’ll be in your position in a years time 

laurarutter89

outoftheviciouscircle said:

Well done. I started my diary yesterday with a similar amount of debt to what you started with. I hope I’ll be in your position in a years time 

Congratulations on starting your diary!  
Although i have not been brilliant at maintaining my own diary I have gained a lot of help and motivation reading other people's journey's on the Debt free forum.

I have only really knuckled down paying my debt off since September last year after my wedding, and I have really just chucked everything I can at it no matter how big or small the amounts. 

It is not easy but I can finally see the end and it all now seems worth it. 

Wishing you the best of luck with your journey! xx

laurarutter89

I also forgot to add that I paid in a cheque today which I have had since my Birthday back in March. 

Due to the lockdown I just had not been out to the bank.

When it clears i will pay £15 to savings and £15 to credit card.