Last £5000 to clear

browneyed_girl

Wow! You’ve done so well to get to this point! Best of luck clearing the last of the debt - will be lurking to see how you’re getting on!

pidge04

Thanks for the support!

My credit score has dropped from good to fair again because of the 0% balance transfer I did last month which meant I applied for and got another credit card. I am in the process of closing the one I transferred the balance from. Won't allow it to dishearten me though.

I have gathered some more bits to list for sale. I would love to clear another £50 off my overdraft this month through selling and babysitting jobs. I am aiming for it.

I started my envelopes with my weekly cash in. I contributed £10 towards coffee and cake yesterday. Personally I wouldn't spend my money on this but my husband loves us to go out for coffee and cake. He has been paying for this all month so I felt like I should contribute. I don't really know to manage this. As it gets warmer, I'll suggest we take a flask of coffee out with us.
We aren't a team I am afraid. I hope that by freeing myself of this debt, I can also set up by myself.

So I have £5 left until next Saturday. I need to get something for my guardian angel at work. I think I will get a £3 voucher for a coffee on me. £2 for dinner on Thursday which is my day to provide dinner... Will do jacket potatoes and tuna as there are some tins in the cupboard.

I need to buy 2 children's presents at the weekend. Going to suggest to husband that we buy one each. I have got 2 babysitting jobs next weekend which will bring in £50 but that money is already accounted for.

At the moment, I am crossing offf each day in my diary as it finishes... Counting the days off and wishing my life away! I think lots of people on here feel the same way!

I was reading the Debt Free Roll of Honour this morning. Love it so much and find it so motivating!

Wishing you well!

pidge04

Hello

I have closed the credit card which I did my last 0% balance transfer from. Apparently, I have had that account since 1998. So that's how long I have been in a cycle of debt for. I couldn't tell you how many times I cleared the balance with a consolidation loan. That never worked for me.

I have made my February loan payment today so I have paid twice this month. Changed the direct debit so that last payment is at the end of July and not mid August. When my overdraft is paid off in April though, I will target my loan and see if I can end it a month earlier.

Remarkably, I haven't spent any money since Sunday!

Best wishes.

abba1772

Happy new diary pidge

Well done one being at the £5k mark you've come so far xx

Well done

pidge04

Thank you so much.

savingholmes

Well done on closing the card. Just so you know your score will dip up and down as you apply for new credit - but also when you close old cards down. A certain amount of loyalty is seen as good. You also need to try and keep credit utilisation on each card to less than 90% - preferably lower than that. At the same time having too much access to credit isn't seen as good either - so difficult balance.

Grow your EF and you won't need the credit longer term which is the best plan.

pidge04

Thanks for the advice Savingholmes.
I thought about that when I was cancelling it and when they were offering me incentives to stay. Psychologically, I had to let it go.
The maximum on my new card is £4,400 and I have £2900 debt on it.

I'm on my second night of babysitting... I have 4 nights in a row booked. Just doing my figures... If I clear my overdraft by 25th April and I pay £303 off my loan for 3 months (April, May and June), the loan will be gone a month ahead of schedule and the prospect of a more financially comfortable summer holiday. I'm going to go for it! That would be a massive incentive for me.

Sarahwithlove

Well done on what you have achieved so far. I’m glad you have managed to start coming out your overdraft as the new fees are ridiculous.

I had the same thing with my credit check but it will come back up in the next few months and hopefully you won’t need any further credit in the near future. Good luck

pidge04

Thank you so much Sarah!

pidge04

Hello

I've paid £50 off my overdraft. I have avoided all temptations and shops!
If I think I want something, I ask myself do I really want that or do I want to pay off this overdraft? I most definitely want to be rid of this last £500. I've got more babysitting jobs than I had planned for this month and I can't wait for half term to come so I can list some bits for sale. Also, I can't wait for the 25th to come and I will pay £200 off the overdraft (Thanks to the council tax break!) I'm feeling really motivated and hopeful!

Best wishes.