Sazzles needs some accountability

137 Posts


Hello 👋🏻
Starting a diary to give me some kind of accountability!! Have been in debt for a while now- over spending to keep up with life, moving to London, taking a pay cut to get my dream job, and reached a high of £12k debt last year. 2019 I started budgeting and make a small dent but always seem to re-add to the debt.. this year have paid off £4K, loss of all social activities has helped, but also got furloughed for most of the year so lost 20% salary also.
I’m heading into 2021 with £7833 debt and am determined to pay it off by April 2022 if not before!
I don’t have a huge amount of outgoings- no children, live alone, company car... etc but my rent/council tax is high due to area (just over £1000) . Everything else I have cut down to minimum, cancelled prime/Netflix/gym...etc. So don’t have much else to cut back on.
Aim is to pay £500 off a month. 3 credit cards all at 0% for various times... but have to space to switch when these run out.
I also have £1000 in an emergency fund which is like to keep.
Have signed up to the challenge pay off debt by Xmas 2021. And hope to learn some tips and tricks from the lovely people here. And hopefully have some accountability so I stick to my plan!!!
Looking forward to getting stuck in!
£12k paid of in 2.5 years!
1
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Replies
Christmas fund 2022: £212.01/£500
House fund: £ 11003.48
*Tesco Credit card - £3604.30* - £0.00
*Finance - £581.91 - £0.00
*Dad loan - £5300 - £3800
*M+S Credit Card - £0
*MBNA Credit Card - £1211.88 - £0
*Virgin Credit Card - £3075 - £0
*Total debt - £3800*
*Sinking Fund - £2500/£2500*
*Emergency Fund -£250/£5000*
*Mortgage Overpayment - £46.90/£1000*
Premium Bonds - £200/£1000
Facing Reality - My Debt Free Diary
*Tesco Credit card - £3604.30* - £0.00
*Finance - £581.91 - £0.00
*Dad loan - £5300 - £3800
*M+S Credit Card - £0
*MBNA Credit Card - £1211.88 - £0
*Virgin Credit Card - £3075 - £0
*Total debt - £3800*
*Sinking Fund - £2500/£2500*
*Emergency Fund -£250/£5000*
*Mortgage Overpayment - £46.90/£1000*
Premium Bonds - £200/£1000
Facing Reality - My Debt Free Diary
Virgin CC - £1,050.00/£2570.00
MBNA CC - £825.00/£3360.00
Emergency/Home improvements Fund - £0.00/£1000.00
Pay All Your Debt By Xmas 2021 Number 60 - £2144.00/£6680.00
https://forums.moneysavingexpert.com/discussion/6233334/paddingtons-debt-free-journey#latest
Got a promotion at work this week! Sadly only offered the smallest pay rise so have queried and crossing my fingers they’ll give me a little more on Monday.
This week I have popped some clothes on vinted... £8 so far! Will pop some more bits on today!
I think this year I'm going to try and spread the council tax costs over 12 months myself instead of having the two months break.
*Tesco Credit card - £3604.30* - £0.00
*Finance - £581.91 - £0.00
*Dad loan - £5300 - £3800
*M+S Credit Card - £0
*MBNA Credit Card - £1211.88 - £0
*Virgin Credit Card - £3075 - £0
*Total debt - £3800*
*Sinking Fund - £2500/£2500*
*Emergency Fund -£250/£5000*
*Mortgage Overpayment - £46.90/£1000*
Premium Bonds - £200/£1000
Facing Reality - My Debt Free Diary