Recovering Gambling Addict Aim To Be Debt Free

GA2019

Still not gambled

Loan amount stands at £6710 but reduced payments to £161pm.

Really excited for the next chapter in our life and with baby due in January this is why we reduced monthly payments. Not long till January

Scott_Weiland79

Good luck with your journey and congrats on the new impending arrival

Sarahwithlove

Well done on clearing the cards and a significant chunk of the loan. Can you pay any more off the loan before January? Any extra income will help, though your wife will get maternity leave income I assume. Have you thought about how you will manage the difference when it reduces down if she takes the maximum leave. 

in_need_of_direction

Congratulations on the baby news.  I think you’re absolutely right to revisit your priorities and aim for a truly joyous time.

Lonelygambler

Hey,

I'm a recovering compulsive addict, and I've found incredible support through the GamFAM community. If you're looking for a great space to connect with others on a similar journey, I highly recommend checking it out.

I am now at 7 months. Gambled well over £25k and lost most of it. 

Feel free to reach out if you'd like to talk more.

LG

GA2019

Thanks for all the advice and congratulations @Lonelygambler on getting help. I last gambled on the 7 Feb 2022. Amazing how quickly your life can change for the better.

Now I need to look at building a much better foundation for my family and kids. Already opened an ISA for me and my wife.

Wife has brilliant policy so get 6 months full pay. Aiming to get Savings/Emergency Fund to well over 10k for 2nd half of 2025.

Car Loan - 6.4k
Savings/ Emergency fund 5K (growing for time off)
ISA 1 - £470
ISA 2 - £375

Not paying off the car loan as want money for our child being born. 

Lonelygambler

2022 - Amazing effort. 

Looks like you're doing so well. 

LG

GA2019

It seems as if things have changed so quickly yet it is the slow pace of one day at a time that has helped.

We had our first baby, a boy, in January. Don't know if I would have been as calm if we had all those debts when I started this blog.

Car Loan - 5.3k
Savings 16k
Investment ISA 1 - 4,260
Investment ISA 2 - 3,670
Junior ISA - 450
Junior SIPP - 3700

Amazing what we can do when we put our minds to it. I am also getting a promotion at work

Sarahwithlove

Well done on the savings. Are you going to look at paying off the car loan? What's the interest rate on your loan versus savings? 

GA2019

We could pay off the car loan but my wife is about to go down to SSP so we want the savings buffer for the next 6 months. Payment is only £161pm and rate is 6.2% - interest saved by paying it off could be around £500 but going to wait till next year.