A new outlook.

Hello everyone!
I've decided to start a new diary for the last slog of my debt free journey. I've had diaries on here before and reading back through them I can see what a neagtive mindset I had around money and how to deal with it. 
When I started this journey in 2017/8 my total debt was: £15941.42
My current debt total right now is: £7047.94
This consists of car finance (HP) of £3047.94 which ends in August 2022 and a personal loan of £4000 (57 months to go). 

It's nice to see in numbers how far I have come and how much has changed over the years

I can make overpayments on the loan so I'm going to try and clear this as quickly as possible then pay off the car finance.
I'm a full time student and have some side hustles which provide extra income. 

I'm gonna use this diary to keep me accountable. 

Happy Friday everyone :)
:wave:

Comments

  • ladyholly
    ladyholly Posts: 2,758
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    Good luck in the rest of your journey 
  • RelievedSheff
    RelievedSheff Posts: 11,090
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    Well done in coming as far as you have so far. 
  • JLS1901
    JLS1901 Posts: 483
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    Just a little update debt at present is £6423.
    My side hussle has come to an end so payments do the debt will probably be a little less for a while, I'm loojking at other things I can do on the side but I also need to really apply myself to this last year of uni I can't afford to fail.
    I can't wait to be qualified and working again and have the security of a full time wage (hopefully!)

    :wave:
  • Good luck. I think as a student the important thing is to focus on your studies and then if you manage to save anywhere then great but education should come first. Have you got a budget for food etc? Do you meal plan? 
    *Dad loan - £5300 - £3100
    *Virgin Credit Card - £3552.50 - £0
    *Barclaycard - £0

    *Total debt - £3100*

    *Sinking Fund - £1500/£3000*
    *Emergency Fund -£0/£3000

    *Debt Repayments Pot - £0/0*

    New diary- https://forums.moneysavingexpert.com/discussion/6474943/the-three-cs-coffee-clothes-credit-cards/
  • JLS1901
    JLS1901 Posts: 483
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    Good luck. I think as a student the important thing is to focus on your studies and then if you manage to save anywhere then great but education should come first. Have you got a budget for food etc? Do you meal plan? 
    Hey thanks for the reply :) Yes I agree uni should be the top priority at present. I will probably just chuck bits at the debt as and when I can. 

    Yes I meal plan and batchcook, have a fully working YNAB budget.

    I've made another extra payment to the loan so the debt total is now at £5923.27
    Happy Friday everyone :smile:
    :wave:
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