When the bottom line figure is scary! But you have to start somewhere

Lu2025

Hi, brilliant, you must be so pleased about paying off the card. Enjoy your meal and fizz, well deserved.

mrsmoneypenny90

@Lu2025 hi Lu, thanks for the kind words. I see you have a diary 😃 I am going to sit down with a cuppa now and have a read, well done on taking the first steps! 

ryanm8655

mrsmoneypenny90 said:

A long overdue check in from me. To be honest, I find it hard to post when I am not really doing much debt busting, but I think I am going to start checking in more often even if it’s just to log my daily spending (yawn I know!) but it will make me focus on the smaller things and keep track better. Although, to be fair we have managed to stick to our grocery budget did the last Aldi shop today to take us to Thursday payday (the end is in sight wahoo).

also.... I just could not resist and have ended up paying the final £2,085 off the Halifax card today, it has taken us into our overdraft for two days but the small amount of interest we will pay is worth it just for my peace of mind. And wow does it feel good seeing that £0 balance on the app, just hope in a few months we will get a 0% BT offer as that will make a huge difference if we can shift some of the smaller higher interest cards on to there. We have have this horrible card for years (originally taking it out to do a balance transfer, oh the irony) and kind of just accepted the £135 payment every month before our LBM.

We have agreed that as it’s our first substantial pay off we will treat ourselves to a cheap bottle of fizz and cook a nice dinner on Thursday to celebrate and spur us on for the next one!

hope everyone else is feeling good and not giving in to the urge to splurge now shops are reopening?

Also find it tough those couple of weeks a month where nothing is happening...

Congrats on getting rid of the halifax! You deserve a bit of a treat :-)

I had two Santander credit cards that were like that...my current account was with Santander and they gave them to me as a student “just in case”. I actually didn’t use them for years (nor did I ask for them) but they were my first means to live beyond my means. I started using one as my spending card and thought I was doing well one month as I hadn’t run out of money but they’d upped my limit without telling me and I’d massively over spent. £10k of my debt was those two cards, so it felt like closing a chapter when I closed them. Interesting how a card can have a story and evoke emotion.

Moneywhizz

Great to read that you are sticking to your plan and have already made good inroads into paying off your debt. It will be a real boost to get rid of the highest interest card. I hope you get some 0% transfer offers soon. It will make a big difference to you to get rid of the interest and be paying all your money the actual debt. 

ohdearhowdidthathappen

Just had a quick read of your diary, you're doing great.  At this rate you'll be debt free really quickly!  Your OH company have been a bit cheeky asking him to take a 'voluntary' pay cut, but I guess if it's only short term, it's a case of just swallowing it for now.  If I was him, I'd work 20% less though
I like Dave Ramsay's method too, although I don't follow it religiously, it impacts some of my financial decisions when I'm pondering on them.