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Evenstar20
Evenstar20 Posts: 58 Forumite
Part of the Furniture 10 Posts Name Dropper Photogenic
edited 30 December 2022 at 11:34AM in Debt free diaries
Cleared for new one.

Credit Cards - £31050 - £23143

Loans -  £38938

Retail - £3752   - £2574

Family - £6280

«13456

Comments

  • swfcfan
    swfcfan Posts: 16 Forumite
    10 Posts First Anniversary
    Good luck you’ve got this 
  • Doris17
    Doris17 Posts: 921 Forumite
    Tenth Anniversary 500 Posts Name Dropper Combo Breaker
    Good luck on your journey,

    "Make Everyday Count"



  • WinterWarrior
    WinterWarrior Posts: 6,102 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    Good luck. That’s a great start! 
    Perhaps if you list your income and expenditure people will be able to offer some advice, if that would help you? 
    Not all who wander are lost - J.R.R.Tolkien
    🌊 A smooth sea never made a skilled sailor 🌊

    My WW and friends diary is here 😁 … 
    https://forums.moneysavingexpert.com/discussion/6259606/must-try-harder/p1

  • FootyFanDan
    FootyFanDan Posts: 1,672 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    Good luck! You can 100% do this
    Days to Orlando: 462- ☀️🎢

  • I find the momentum dwindles after the monthly minimum payments are made.  Maybe look at a few challenges on here.  I joined the payment a day challenge knowing everyday my debt will go down!  It just keeps the paying off focus daily and it’s surprising how those little payments add up.  There are also challenges to have non spend days, 1p a day, and numerous others that may be suitable for you.  Good luck 
    Lightbulb moment - 17/08/2017 £17,033.  Current CC debt £0.00 DFD 31/7/24 🥳. Member #8 of Fiver Friday Challenge £150/£260
  • flapflop
    flapflop Posts: 131 Forumite
    100 Posts Name Dropper
    Hello @Evenstar20 we are in a very similar position so I'm hoping we can cheer each other along the bumpy road. I'm rooting for you. 
    Total debt at peak 2021 = £38931
    Debt at start of diary £31,073.95
    Current debt = £25402.41
    Paid off = 33.22%
    Next - £278.30/ £0.00
    Simply Be £62.95/ £0.00
    Very £617.09/ £0.00
    Paypal £1974.00/ £0.00
    Mum £5800/ £5000
    Yorkshire bank £7,000/ £2037.12
    Tesco credit card 0% £9000/ £8800
    Virgin CC 0% £10,000/ £9220.38

  • That is a lot of money for a bed. Are you able to clear that within the interest free period and still service your debt? Personally I'd have opted for second hand again and make do until debts are paid off. You say you pay off £1200+ per month yet your debt is higher than it was in June 2020.
    Sorry if this all sounds negative, we all want you to clear this! Sounds like you need to work on staying within your budget and stop using credit!
    I was stuck in a cycle of paying too much off debt and having to rely on it when something went wrong. Only when I made a realistic budget (and stuck to it) did the numbers start coming down!
    Also try for a month writing down every single spend, it's horrifying what £10 here and £5 there adds up to over a month.
    If you decide to post a SOA others can help show you where money can be saved etc.
    Debt Free as of December 2020 👏

    Save 12k in 2025 #6 - £300 / £3000

    MFW - 19 months shaved off the mortgage
  • Dorisd
    Dorisd Posts: 179 Forumite
    Seventh Anniversary 100 Posts Name Dropper Photogenic
    I was once where you are and paid off £20,000. Keep visiting the forum, you’ll find great info and inspiration have subscribed to your diary.
    🎊Debt Free 8 Jan 2022[/center]🎉
    Language Learners Chat- Portuguese
  • WinterWarrior
    WinterWarrior Posts: 6,102 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    Great progress ⭐️
    Not all who wander are lost - J.R.R.Tolkien
    🌊 A smooth sea never made a skilled sailor 🌊

    My WW and friends diary is here 😁 … 
    https://forums.moneysavingexpert.com/discussion/6259606/must-try-harder/p1

  • jokono
    jokono Posts: 766 Forumite
    Fourth Anniversary 500 Posts Name Dropper
    Great progress in the last few months! Why are you not prioritising the interest bearing debts? Will the 0% end soon and move to an even higher interest? 
    01.12.2020 - CC £16,839 / Loan £18,820 / EF £0
    03.07.2023 - CC (0%) £9,859 / Loan £0 / Savings £10,110
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