The times they are a changing.

LW7

Having been inspired by reading the stories, and actions on here. I'm turning my debt life around, to one of frugal choices, thoughtful purchases and self control. 

Having had debt all my adult life, it comes and it goes, but I never really fix the issue, my approach to it. So my goal is to be debt free in 6 months, and I will never be in debt again.

Here is where I stand as of 18/02/2020

Credit Card - £4,900 (50% of that is mine)
Catalogue Account - £130
Overdraft - £150
Total Debt: £2,730

Now to arrange my payment plan!

LW7

My plan

February 2020 paycheck - Pay off my overdraft in full. But also going to spend the next two weeks looking at things I can see from the shed, loft and under the bed. I will also explore if I hold anything in My Quidco and TopCashBack accounts. 

March will be a complete shut down month. No social events. No spending not deemed necessary and full food planning for each week to buy and cook in bulk.  I've never done this before, but I am to be saving £500/£700 if I go into complete shut down for March. 

After that, I'll re-assess. 

LW7

OK, first win..

£29 in my Quidco account that has been withdrawn and £12.50 in MyTopCashback so £41.50 found already. My aim is to try and raise £150 to clear by overdraft by the end of Feb. Watch this space! Going to do some digging around the house tonight for anything to sell!

doingitanyway

I can feel your resolve coming off the page. Good luck.

LW7

Thank you, I cannot wait to get stuck in and make a real difference! The feeling of being debt free is something I've not felt in many years. 

LW7

Recovered £41.50 from Cashback accounts today, have rounded up to £50 and cleared 1/3rd of my overdraft today!

Credit Card - £2,450
Catalogue Account - £130
Overdraft - £150  Now £100

Was £2,730
Now £2,680

LW7

Productive day today, I'm managed to get over 30 items on Ebay, from clothing to electronics and some old school things from the loft, I was given a code for a free listing day, so will take a hit on the final fees, but it's still money. 

Put them all on with a 5 days listing to hopefully get something moving. 
Hopefully I can raise enough to clear the catalogue account and remaining overdraft.
Roll on March payday, where I will get my bonus pay and can take a whack at the credit card. 

LW7

Further good news, after being with NPOWER for 3 years running, I decided to check out my Energy supplier options. 

Looks like I've been overpaying on Energy (Gas & Elec) - £111 a month currently. 

Just switched to another provider, which kWH vs kWH & Standing charges, would save me £330 PA. Reducing my £111 a month direct debit by £27 a month to £83 per month. In addition I used Quidco for £110 cash back! 
So as of 25th March, I can put £30 a month into my credit card, along with the £150 cash back in a few months time!

happy_money

Hi! Just wanted to say Good Luck!! 

I've got roughly the same amount of debt as you so will be following you for inspiration to help me get mine paid off in hopefully the same amount of time!

LW7

Thank you!

Well my Ebay items end tonight, as it stands I look to make just shy of £145 after fee's and costs for materials to post etc.

Actual money in is near £190, but I need to travel out to get boxes and wrapping and tape etc, and a couple I'm upgrading the postage to recorded etc. So hopefully clear £145 by Friday night which would be amazing to clear my catalogue account!

LW7

Guys, EBAY is all done and posted, and I cleared £156 after fee's and costs!

I'VE JUST PAID OFF MY CATALOGUE ACCOUNT! I'm so happy right now! I've used the residual £26 and rounded to £30 and have thrown that at my overdraft!

I have no more funds coming in now other than my pay checks. I should find out in the next week/ten days what my annual bonus is, I can work out then net of tax and NI what I should get!

Credit Card - £2,450
Catalogue Account - £130  £0
Overdraft - £150  £100 £70

Original £2,730
Was £2,680
Now £2,520