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Starting my Debt Free Diary
C03
Posts: 4 Newbie
Now it isn't as much debt as some people have and are trying to bust, but i have been inspired by some of the stories to make my own and keep myself accountable.
Unfortunately i like to spend money and very quickly spend money on things i don't need. I have set up several savings account, but can sometimes find myself digging back into them to make unnecessary purchases.
Pay day is on the 26th and so i would like to keep myself accountable and spend minimal amounts on things i don't need.
Current debt is:
£165 on a Credit Card
£2,727.36 for my Invisalign treatment, paying £151.52 monthly due to finish on 28th Feb 2021
and £3805.52 on a loan, paying £116.04 monthly due to finish 28th June 2021.
The Invisalign loan has a very low interest rate and i was already prepared to pay this to get the teeth i want, so i am not worried about that.
The Credit Card i will ideally pay off this pay day and not put anymore on it (this is the downfall, not instantly buying more clothes or things i don't need on it) Keeping the card open for emergency's until i have a bigger emergency fund.
My aim is to pay off more of the loan throughout the month, with money i save and the 'Save the Change' scraps of money i haven't spent.
More importantly i want to have at least 4 No Spend Days a week and do bulk shopping with a list for work on Sundays.
A side note, i am only 21 and living at home, so want to try to save as much as i can and stop spending.
Hopefully i will keep checking in and keep myself accountable and wipe the debt quicker!
Unfortunately i like to spend money and very quickly spend money on things i don't need. I have set up several savings account, but can sometimes find myself digging back into them to make unnecessary purchases.
Pay day is on the 26th and so i would like to keep myself accountable and spend minimal amounts on things i don't need.
Current debt is:
£165 on a Credit Card
£2,727.36 for my Invisalign treatment, paying £151.52 monthly due to finish on 28th Feb 2021
and £3805.52 on a loan, paying £116.04 monthly due to finish 28th June 2021.
The Invisalign loan has a very low interest rate and i was already prepared to pay this to get the teeth i want, so i am not worried about that.
The Credit Card i will ideally pay off this pay day and not put anymore on it (this is the downfall, not instantly buying more clothes or things i don't need on it) Keeping the card open for emergency's until i have a bigger emergency fund.
My aim is to pay off more of the loan throughout the month, with money i save and the 'Save the Change' scraps of money i haven't spent.
More importantly i want to have at least 4 No Spend Days a week and do bulk shopping with a list for work on Sundays.
A side note, i am only 21 and living at home, so want to try to save as much as i can and stop spending.
Hopefully i will keep checking in and keep myself accountable and wipe the debt quicker!
0
Comments
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Hello & welcome :wave:
You are in a great position & the credit card will soon be done.
Then you can concentrate on your loan & let the one for your teeth run meantime
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Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"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. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
Thankyou!
Would really like to just curb the spending in between and only buy necessities. Stop the cycle of over spending0 -
Pay Day Today, so just waiting on that
Paid the Credit Card Balance off yesterday and made an over payment on the loan, so waiting for the updated balance.
Aiming for at least 4 No Spend Days over the week. So will start that Monday - Sunday next week and try for a few NSD from now til Monday.
Today won't be a NSD as i already have a Waxing treatment (£42) booked in, but will try to spend bare minimum on picking up bits for dinner.
Hopefully i can stay within spending £50 today.0
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