My Debt Free Adventure

SheSunShines

I am starting this diary with a positive attitude, hence calling it an adventure rather than the somewhat more apt absolute nightmare. I've been trying to get my debt down for the last couple of years but there always seemed to be something getting in the way - including, but not limited to, my blatant overspending. As last year was drawing to a close, I decided that 2020 was going to be the year that the debt, and my stalling life, got sorted once and for all. It was with that determination that I celebrated and bounded into the new year only to lose my job seven days into it. Oh, how I laughed. Two months later, without warning, my dad was rushed into hospital for emergency surgery. Within hours of him falling ill, he'd been diagnosed with cancer and had part of his bowel cut away. This was a surprise to all concerned, let me tell you. Still, his recovery from the surgery went well and shortly after I got my old job back. Good times. I started back on a 16 hour contract but was promised more hours. Sure enough, the first week I worked 32 and the second I worked 24 - bonus. However, If you've been following the timeline of this tale, you might predict what happened next. Yes, after a mere seven shifts back at work, the lockdown happened. Fortunately, I was furloughed. Unfortunately, 80% of 16 hours at minimum wage does not a fortune make. So, between losing my job, racking up debt on the credit card (mostly incurred through outrageous public transport costs to visit my dad in hospital and continuing to pay bills, all while fighting for redundancy pay) and then being furloughed my debt has steadily gone up rather than down. Oh, 2020, what games you play!

It goes without saying that my dad's health is the priority (the cancer has spread to his lungs - which would be bad enough without the pandemic, thank you very much) but my family's collective low income is causing issues we could do without. We're spending more on certain foods, supplements and aids for my dad, grocery costs are higher because we're limited to ordering online rather than shopping around at the cheaper places in town and our energy costs are ridiculous because we only have access to electric heating. I'm still on furlough, my mom's on furlough, my dad's retired (plus, y'know, cancer) and my younger sister is on benefits because she has mobility issues due to having rheumatoid arthritis affecting over 50% of her joints. Basically, we're a mess but we are currently sort of coping. Take that, 2020.

And so I'm now on a mission to get revenge on this year.

As much as I might wish to help my dad, I have to rely on his amazing doctors for that so I'm putting all of my effort into sorting out my personal finances. I figure that if I can sort myself out, I'll be in a better position to tackle the wider household problems. I suppose in the grand scheme of things, my debt isn't humongous but it is pretty much at the limit of what I can afford (and exacerbated by silly old me letting my older sister use my Next account and racking up a £2000 debt). So, onto the nitty gritty. For now, this is just my personal SOA. I'll get to the full household one a little later on. Okay, here we go...

Total Debt

Credit Card 1 - £2860 (29.4% APR)

Credit Card 2 - £399 (0% APR)

Argos - £1250 (29.9% APR)

Next - £2150 (23.9% APR)

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Total - £6659.00

Monthly Income

Wages - £483.64

Benefits - £79

Other - £39

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Total - £601.64

Monthly Expenses

Landline / Internet - £46.99

TV Services - £16.50

Groceries - £80

Milkman - £15

Presents - £40

Lottery - £10

Savings - £80

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Total - £288.49

Assets

Cash - £54.49

Savings- £125

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Total - £179.49

Monthly Repayments

Credit Card 1 - £100

Credit Card 2 - £25 

Argos - £25 

Next - £110 

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Total - £260.00

Summary

Income - £601.64

Expenses - £288.49

Repayments - £260.00

Amount Left Over - £53.15

And there we have it. My plan, such as it is, is to get down Credit Card 1 as much as possible to reduce the interest I pay while working to eradicate the Next debt. I want nothing more than the Next account gone, closed and never to be thought of again. My sister does give me money for this sometimes but not always the full minimum payment amount and not always all the time. She's got her own problems to deal with so I don't like putting too much pressure on her. Plus, it's sort of my fault for letting her keep using it even after it got pretty high. I know much better than that. Other things it's probably worth pointing out:-

1) I don't drive. In fact, my dad's the only one who does and he obviously can't drive right now. I also live in a lovely, isolated village that recently lost its bus service (thank you, government cuts) and it costs £30 to get to town and back in a taxi. We have no shop. This is why all our shopping is done online. Also, with my dad having chemo and my sister on multiple immunosuppressants, both are classed as clinically extremely vulnerable. We're all taking the necessary steps to keep them as safe as possible during this pandemic which means we are not going into town unless absolutely necessary.

2) Wages and benefits. I have no idea what's happening with my job. I've contacted my manager about whether I'll be kept on furlough or not but I've had no reply. With the things noted above, getting to work would be difficult and going to work (in a busy customer-facing environment) would be risky for my family, especially while my dad's having his treatment. I've got holiday I can take and Universal Credit as a backup but it's likely my income will go down rather than up.

3) That said, I am answering surveys and installing games like a pro. This little bit of extra income is a help so hopefully I can continue to make a few quid a month.

4) I'm also going to try selling some sketches and paintings I've done. I've sold a few things in the past but it's quite a niche market and a lot of people are in a financial pickle right now themselves. Same goes for some odd things around the house I don't need anymore. Worth a try anyway.

5) The £80 savings I put aside each month will be used to pay a bit extra off one my debts. It's just nice to feel like I'm saving for a few weeks!

6) I am definitely a compulsive spender. If I decide I want something, I need it now. I'm also a collector, so I want everything. This has resulted in a lot of excess spending over the last couple of years which I've recognised but been unable to curb. I have managed to fight back against this compulsion recently but it's something that's always there in the background. If I stumble with this, I'll likely be writing the next post buried under a pile of Batman comics or something. I'm finding ways to distract myself so I don't keep heading to eBay or Forbidden Planet. Turns out, I like a bit of DIY.

Okay, so I definitely think I've waffled on long enough. I do apologise, but I've not left my village for five months and haven't spoken to anyone other than my family in all that time! I think I need an outlet. I'll finish up by mentioning some of the things I've already done on this adventure. Last month, I paid off my New Look card (I can't close the account because there's no one answering the phones right now), stopped playing the National Lottery which is saving me £12 a month and cancelled my mobile contract and switched to pay as you go. This is also saving me £12 a month (I don't use my phone for calls/text so £10 of credit will probably last me an entire year). It's not much but it's a start. It's a positive start and I'm clinging to that. Hopefully taking this step of putting all this out in public will spur me on and help me to not slip back into my old ways. This year has been a shocker for so many reasons and I'm determined to fight back.

And so here we go, my debt free adventure...

Tortoiseshell20

2020 has been rubbish all round, but it sounds like you've been the mill especially! I hope your dad is OK.
The first thing that jumped out is your sister racking up debt on your Next account - is there any way she can pay this back?
Also, how will you get to work after furlough ends? At £30 a day in a taxi, you may be better off renting a room nearer work.
Good luck with your adventure - I love your positivity and with that you will soon start to plough through this debt.

SheSunShines

Hi Tortoiseshell20! My dad's doing good right now, thank you. He's in good spirits and in good hands.

My sister struggles for money herself so, as much as I wish otherwise, I know she doesn't always have the money to spare. It's frustrating but I've taken the necessary steps to make sure she can no longer use it and accepted I'll just have to pay the majority off myself. It's not ideal but feel like if I keep nagging her about it we'll have a falling out and that's the last thing I want - especially with our dad being poorly.

As for work, I think I'll have to cycle. It's about 5 and a half miles away and it's also the nearest place for job opportunities around here. I never bothered learning to drive because I never needed to and finances have always been tight. The service was taken away so suddenly though that it's left me in a pickle. I agree that moving closer to town would be a good idea, and it's something we've bandied around, but my parents own our house so we don't have rent or a mortgage to pay. The stress and upheaval of selling the house isn't really viable while my dad's ill. There's also no way I'd been able to afford to rent by myself (I'm single and have no children so there's no help available). Basically, there's so many things we could do to make things easier but the timing is all wrong! It's just a case of making do until things are more financially viable and there's less health risks involved.

Thanks so much for your good wishes and suggestions. As for the positivity, so much has gone wrong for us recently that I'm getting used to bad news and am starting just to learn to roll with it! I'm hoping you're right about it helping

CreditCardJunkie

I just wanted to say hello, and well done for handling everything this god awful year has thrown at you! My dad has rheumatoid arthritis and is probably on the same drugs as your sister. It's an awful disease and there are some not so nice side effects of the meds.
I see you've started surveys which is great, perhaps you could make extra income by offering services in the village, maybe someone could use a cleaner or admin staff. Have you tried to see if there are any remote jobs to match your skillset? I've noticed quite a lot of jobs now are allowing remote working.
For me, getting out of debt was much easier by making some extra £'s rather than cutting and cutting at the budget which was already trimmed down.