Time for me to be debt free

Babybelles

Thank you Warby. Honestly that has been the turning point for me, & was a massive reason why I kept paying off debts then following the same pattern of building them up again. All my purchases now have a lot of thought going into them & I ask myself do I really need them, what value will they add to my life,  & do they have a place to live once they are brought home. 

The great thing is I now have a home with lots of items that give me a lot of joy or are very useful. I’m also building up my finances through selling the stuff I no longer need or were purchased on a whim. It’s been a hard slog to get to this point but will be the main reason I succeed eventually in paying off the debt.

Babybelles

Hi Beanie, you are absolutely right! I’m horrified at the amount of interest I pay & didn’t really give it a 2nd thought in the past...dreadful I know! Anyway, that’s my main goal now & I’ve just downloaded the debt manager debt app to help me keep an eye on things. I’ve got a few things to eBay this week so hopefully I can pay off a bit more of the debt next week. Thanks for your input x

beanielou

Will follow along   

Babybelles

Thank you Beanie! Hopefully I will keep on the straight & narrow & get this debt sorted for once & for all.

I read some more debt diaries last night & have seen such good advice being given. I have noticed though that a lot of people have goals, not only to be debt free but whether they are saving for a house, to have a child, to put their children through uni etc. I don’t really have any long term goals as such. I’ve always had something to aspire to but at the moment I can’t think of anything I really want other than to be debt free. I’m going to put more thought into this over the weekend as I think maybe I do need some other goal to aim for? 

Also, I’ve got an online shop coming later today. Since March & the lockdowns starting I have altered the way I shop for food & plan meals rather than keep popping to the shops on a whim. This has been a big saving & as a family we are eating so much better. If I don’t plan my food we tend to reach for freezer stuff or order takeaways so this another area of my life that is improving along side the debt busting. Other than that I’m going to pop a few items on eBay & then snuggle with the kids & dogs watching a movie later.
I hope you all manage to have a nice weekend.
Love B x

savingholmes

Good luck on your journey

Babybelles

Thank you @savingholmes

warby68

Its possible that the debt is preventing you from identifying your goals for the longer term. Its one big stumbling block for everything at the moment. I also bet you do have things you want your life to be like in the future or for your children even if you've not put them down as goals yet. 
Good luck and keep going.

Babybelles

@warby68 thanks for the advice.  I don’t think the debt helps but I don’t think that’s what’s causing a block either. I’ve had higher amounts of debts in the past but still had goals I wanted to obtain so am not sure what is going on. I do feel a bit flatter than normal with what is going on in the world, & it has made me much more appreciative of what I do have. Material things just don’t seem to cut it for me anymore. It’s slightly odd saying this with how much shopping I used to do though!

Babybelles

I’ve listed a few more items on eBay & have bids of about £40 so far on the few items listed. I did want to list more items yesterday but ended up feeling a little off so went to bed for a few hours which isn’t like me. I’m feeling a bit perkier today, but still in a bit of a funk so had another lazy day. I have a couple of close friends/family who have been hit quite hard with COVID-19 at the minute. One is in hospital but seems to be doing ok. 

I’m feeling a bit stressed with worry so that might be the reason I wasn’t feeling great yesterday or today. It’s funny how stress affects you & there’s not much I can do about it apart from take a little bit of time out & rest.
I’m back at work tomorrow so I’m planning on having an earlier night & my DH is making tea tonight so we are having roast chicken, chips & hopefully a bit of veg with it! 

I hope you are all ok & your loved ones are safe & well.
Take care,
B x

enthusiasticsaver

Good luck on your journey to get rid of that last £12650 debt. As Beanie says I would focus on the high apr debts initially. Do you have any emergency savings? That is essential to go alongside debt busting so in the event of an unexpected and unavoidable expense you don't need to use credit and build the debt back up. 

There are are different types of goals but yes they are key for long term financial planning. Long term they could be paying off the mortgage early or building up early retirement savings or uni costs for children or helping them with a house deposit. Medium term goals are usually a new car or large house expense like new kitchen or bathroom/conservatory or even a bigger house and short term would normally be things like holidays, Christmas or repaying credit card debt.