After years of debt journey through my sensible 40s... and save a deposit for a house

lantanna

Decided to start my own diary after reading many others. This is to keep me accountable in continuing to save and not return to my old careless ways.  

In my early 20s I racked up loads of debt because I couldn’t live with my parents and my low income meant it difficult to rent and survive on my wages so I supplemented my living costs with loans, relied on payday loans and this was a vicious circle for many years. I also had a 2nd job from about 25 -35 which killed my social life but it funded my 20 a day habit at the time. 

Fast forward 20 years I’m 40, 41 later this month in fact and I am almost debt free, I have a reasonably well paid job which I love and still rent.  My goal now is to pay off remaining debt, save for deposit for a house and have started AVC for my pension. 

How times and priorities change. Regrets not really but could I have made better decisions yes.  So that’s what this diary is for to keep me on the straight and narrow and focused in meeting my targets. 

lantanna

Current position

Capital One Card 1: 113.51 / 200
Capital One Card 2: 1190.10 / 1250 

Savings: £3140 in total 
Important ones are : Emergency Fund £275, Later Life Fund £325.00, Help to Buy ISA £706.16, Marcus [deposit / contents) £8 
I do have more but these are the ones I want to focus on growing. 

Debt: Satsuma: Balance £660 - defaulted in 2016 no further interest currently paying £20 a month. 

PRA Group: £1100 CC debt from way back not on credit file anymore £35 per month payment. 

At one point I had at least 12 creditors  and around 22k of debt so that’s how far I’ve come.  

Plan to update this at least once a month so I can see things moving as the diary and time moves on.

lantanna

Setting some goals for the week to measure progress against. 

1. Drink 2 litres of water a day 
2. 3 x 20 min walks 
3. one small top up shop under a £10

Rgib89

Hi lantanna,  
Just thought I'd pop by and wish you luck. I have subscribed and will be following your journey x

lantanna

Rgib89 said:

Hi lantanna,  
Just thought I'd pop by and wish you luck. I have subscribed and will be following your journey x

Thanks, I have a feeling this will turn out to be very much about well being as well as money saving. I suffer a lot from the black dog and have long periods of low mood which I think contributed to poor money management in my earlier days combined with a lack of knowledge about anything financial. However I can feel a change happening, this does happen every couple of years and I can achieve fantastic things when I put my mind to it. It’s just sustaining change and not being derailed by the black dog is my problem.  It would be lovely to look back in 10 years time and see how I’ve got on. This diary will keep me accountable.  Today I have ordered bathroom scales and have hunted out my old Fitbit, unfortunately the Fitbit is as expected dead lol.  I will look into ordering one for my birthday.    Today I have fake tanned for the first time in a long time and had a lovely day reading and enjoying some quiet time.

lantanna

plan for today, 2 litres of water - have one litre in with me at work and will have another when I go home. Gearing up to have my first walk tonight. Going to check accounts and move £10 I’ve rescued from the grocery budget into Marcus. still waiting on my Jet 2 refund.....another ten days and they are outside the timeframe they gave me

Savingtomove

Good luck on your journey!  Sound alike you have done amazing so far! 

STM X

Rgib89

Looking back to see how far you come is a very good idea. I find when I feel like I'm at a stand still I look back and realise I am making slow progress. 

lantanna

there are multiple things I have done over the years like stop buying Yankee candles and changing my hair colour, at 34 I decided I’d had enough of being blonde and went dark. £ saving as less trips to the hairdresser. 

Got my up to date balances from Satsuma and PRA today. 

Satsuma £680.08 and PRA £1292.64 as Satsuma shows on my credit file I’ll focus on shifting it by winging a bit extra at it first. Really wish my holiday refunds would come through so I can put the £ to good use.  

lantanna

Shifted £8.08 onto Satsuma before I left work so that it down to £672.00. Just onto my 2nd litre of water for the day and back from my walk. My body was shocked to find itself walking for any length of time again but I no if I keep at it it will get easier.  Positive start to my diary. Just need to keep it up.

FOMO_overspender

Just commenting to say good luck on your journey, although seems so far like no luck needed! You have this down!  So great to see how positive you are - have subscribed!