For a Simpler Life!

enthusiasticsaver

Well done and yes getting that interest lower would be wonderful.  A decent amount is now coming off that Sainsburys card.  You are doing really well.  Things will look so much better in a few months time. 

Frodobaggins

A bit of a delayed update from the begining of the month.  I earned an extra £630 from extra shifts payment, this is paid as a seperate payment and wageslip and I usually use this monry to make overpayments on my cards as this is a bonus and can not be relied on as a regular income.  I wasnt sure if my car would pass its MOT or not but thankfully it did and I have had to use £400 of my extra wages so far to pay for the MOT and service and a few odd jobs that needed doing to get it through the MOT.  It has gone in again today hopefully for the last time to get a small job done on the lights which I hope wont cost too much and then I hope I can keep it on the road for another year.  This will give me time to budget for a newer car next year if I need too.  I am so relieved I have not had to get another car on finance as this would have been a step backwards.
I also had to pay for a dental visit and a few other bits and bobs so there wasnt much left this month for overpayments to the cards. My car insurance is also due the begining of January and is usually about £450.  I the past I have always put it onto a creditcard but not anymore.  As I havent been budgeting long enough to have enough savings to cover it I am going to use my December extra shifts payment to pay for it.  This means a second month of very little overpayment to my cards but the positive is I am not putting it onto a credit card as I always have done in the past and my funds to pay for the car insurance are from my bonus earnings so it isnt part of my regular income and I know I am very fortunate to have this available to me.
I am really pleased with how my mindset is changing and I am determined to avoid using credit cards ever again.  I can not believe it has taken so long for me to make these changes and start tackling my debt.

Sarahwithlove

That's great news about being able to use the extra income to pay for car costs. Maybe going forward start a car fund which you can save into every month to cover any future costs so you don't have an issue this time next year 

astrocytic_kitten

Getting out of the debt cycle is fantastic! Good news on the car passing it’s MOT too. Paying the debts down is important, but so is being able to pay all the annual costs that pop up without resorting to credit and it’s great you’ve been able to do that. Sounds like you’re already working on having the money ready for it next year too.

Frodobaggins

Thanks Sarahwithlove and astrocytic_kitten I'm hoping to have enough savings next year as my bonus income isnt always available and Ive got a long way to go with the debts but definetly going in the right direction now.

Frodobaggins

So a bit of a belated update!  
I managed to pay off £875.57 off my debts by the end of December.  Paid £284.04 in interest on my credit cards.  This is my biggest problem as this could be coming of my balances if I could reduce it.  
I also has to pay out £470 to get my car through its MOT and keep it on the road for another year.  I paid £366 for my years car insurance.  I paid for all of this from my extra wages payment so nothing was added to my credit cards.  
I am amazed that with this new knowledge and management of finances I have been able to avoid paying for things with my credit cards.  I now feel a real determination to not use them at all.
I'm hoping I may be soon eligable to transfer some of my credit card balance on to a new balance transfer card to reduce the amount of interest I'm paying.

Sarahwithlove

That's great that you didnt need to use your card for the cat expenses. It's a nice feeling isn't it? 

Frodobaggins

Sarahwithlove said:

That's great that you didnt need to use your card for the cat expenses. It's a nice feeling isn't it? 

Its fab I really feel like I've achieved something!