Sorting out the mess 'past me' got me in to, for a happier 'future me'

FOMO_overspender

Rgib89 said:

Wow well done with paying so much off.. x

Thanks so much! It's a bit of a double-edged sword really, as feels amazing to have paid off so much in a short period but also a bit mind blowing that I still have over £10k left and how this could have been savings to buy a property, instead I am paying off old holidays, nights out, meals etc which I just couldn't afford!!! However, seeing the positive, if I can pay that much off when I put my mind to it, I will also be able to save it again. 

Rgib89

You sound like me, when I think of the debt and how I could of saved for a house deposit.. my aim is also to pay of the debt and then save for a house deposit, as they say we will learn from our mistakes and we will get there.. xx

FOMO_overspender

Rgib89 said:

You sound like me, when I think of the debt and how I could of saved for a house deposit.. my aim is also to pay of the debt and then save for a house deposit, as they say we will learn from our mistakes and we will get there.. xx

Exactly! We’ll get there 💪 

Debt_Me_Out_Of_Here

That's amazing progress and more than I've paid off in 3 years haha.

anjyeah

FOMO_overspender said:

I spent most of my 20s overspending on credit cards, never being out of my OD and spending above my means so regularly that I never felt the benefit of any pay rises as I was constantly repaying debt and then spending it again in the same breath. 'Future me' could always care about that!!! (Thanks past me!) 

Oh my, this sounds so much like me! Well done on your progress so far, it is inspiring and also motivating equally for new DFW starters like myself. 

FOMO_overspender

anjyeah said:

Oh my, this sounds so much like me! Well done on your progress so far, it is inspiring and also motivating equally for new DFW starters like myself. 

Thanks so much @anjyeah having this diary has been a real winner for me, that combined with using ynab which helped me budget so much better than I was before! 

FOMO_overspender

Bit late, but here is my May month end update: 

• CC: £1,300 
• Loan: £9,412.07 
• Total remaining: £10,712.07
• % of debt gone forever: 59%

Glad to be so close to 60% paid off! I am starting a new job soon, so will get a pay increase and aiming to use the extra £ to pay straight off to debt, to get rid quicker! 

FOMO_overspender

It’s been a while! New job started in July, so been quite overwhelming and super busy! However, good news on the debt front. Here’s an update on figures:

• CC: £1,100 
• Loan: £8,282.58
• Total remaining: £9,382.58
• % of debt gone forever: 64% 🙌

Super happy to now below the £10k mark! 🥳 I should also get my new full salary this month (as got partial pay this month) so will redo my SOA and going to make sure that any extra income goes to paying down my loan. 

Not really been able to get many surveys or side income recently as the new job has kept me super busy! However, hoping to have a wardrobe clear out and get on ebay over the summer. 

Hope everyone is having a great weekend!

FOMO_overspender

Happy New Year! 

I can't believe I haven't updated since August. Not sure where the time has gone! Well, here is the important stuff - the numbers!

Current debt numbers: 

• CC: £490 (0% APR) 
• Loan: £8,252.40 (3.9% APR) 
• Total remaining: £8,742.40 
• % of debt gone forever since LBM: 66% 
• Original debt: £26,380.49

I won't lie, I had a few bad months money-wise Sept-Dec, which did see the debt increase due to rearranged weddings/hen dos etc. However, in October 2021, I did switch my loan to a shorter term and lower APR (from 5.9% to 3.9%) to pay it off quicker and less interest. So now my regular payments are £581 (previously, I was paying £497) and I am aiming to overpay to get rid of this by Dec 2022. Credit card debt is 0% as well - so paying min payments for now and focussing on the loan. 

I also upped my pension to 10% payments, which feels really good, and £50 still going to a LISA every month as well on top. My Emergency fund really went out the window, so need to focus on that again.  Other wins was building up the Xmas pot, so none of Xmas spending went on credit or added to debt, which was a win! 

New Year, new motivation! Definitely want to be rid by Dec 2022 and goals for 2022 are: 

- Clear all debt by end of 2022 
- Build up Emergency Fund back to £1,000
- Build up a Holiday pot 
- Keep going with Xmas pot 

Here's to 12 more months of opportunities and debt-busting!!! 
 

Naomim

It looks like although you had a bit of a dip, you are really in control of things which is a great start to the New Year 👍

I also had a fully funded Christmas this year. It's a great feeling isn't it?

Keep going and good luck for 2022

Naomi