Time for me to be debt free

Babybelles

Thanks @savingholmes I’ve probably made it sound very much like we have separate finances but it isn’t really the case. We both add to the joint account but we also have our own spends as well. It just so works out that the amount my husband pays in goes on more practical stuff whilst I tend to fritter my contributions on some essentials, but they’re more wants than needs if that makes sense?

I think I’m just used to buying things out of my own money/credit as I was very much into shopping before, & constantly purchased lots of nice, but mainly unnecessary things for the house & kids. 

Having fully joint finances wouldn’t really work for me as I like being able to purchase whatever I think we need without having to discuss with my DH. Saying that if we didn’t have our separate accounts then I would have to be much more transparent in how much money I spend, & tbh I doubt I would have spent as much.

Babybelles

It’s been another week of debt busting. I made over £120 on eBay so have put half of it towards my debt & have kept hold of the other half incase anything crops up during the month. I’ve also been ‘tilly tidying’ (this is so satisfying!) so am loving the rounded up numbers 🤣

The week hasn’t been too bad, I had an online food shop delivered & bought a curry, beef burgers & pizza for the weekend. That way we all get to have our fav takeaway style dishes without the added expense of ordering out. 

I’ve also done some rough meal planning so our meals should be sorted for the next week. I find if I’ve not planned something then we end up nipping to the shop or ordering out so I’m trying to get more organised to stop these bad habits for once & for all!

I’m also getting a bit obsessed with the Debt Manager app as it’s keeping me focused on how much debt I have & when my debt free date will be. I really enjoy making overpayments & seeing that number come down. There’s still a mountain to climb but I’m enjoying the journey for now at least.

I’ve been reading other debt diaries & someone mentioned just hitting the debt with the highest APR first. I have a few similar APR debts so have been just trying to reduce all of them, but now something has clicked. I’m now planning on paying a little over the minimum amount off my other debts but really hitting the highest APR debt with any extra I can. This debt currently stands at £2,440 so I’d like it to be gone in the next few months if possible. I’m aiming for 6 months so will be putting all my eBay, PA & Quidco money it’s way...wish me luck 🙈

At least it’s the start of the weekend now. I’ve just had a £1 eBay deal sent to me & have already been eyeing up things around the home I no longer want/need so will be focusing on getting those listed. I also decluttered my DS room & have quite a lot to list as he has outgrown a lot of clothes he’s barely worn. He’s also given me things he received at Christmas that he’s just not bothered about so they’ll be finding new homes too. Other than that I’ll be catching up on some TV (MAFS Australia anyone? 😁) & might even have a cheeky glass of something tonight.

I hope you are all in a good place & managing to make some strides on your debt free journeys. 

Have a good weekend.
Love B x

savingholmes

I use the snowball method - where you tackle highest apr - or if on 0% - the soonest expiry date - to tackle a target card. I have four cards currently and will wipe one out by mid month... It helps keep you motivated.

Babybelles

I’ve been looking at the snowball method but noticed a lot of people wipe out the smallest debts first.  This will definitely keep me motivated. I bet you can’t wait to say goodbye to one of your debts so soon 👏🏻

savingholmes

All my debt is on 0% - so if I have enough time I wipe out smallest first - but otherwise will target 1 card and throw most of the money at that so if I have to transfer again - it is less each time. I am due to hit all my remaining cards within the 0% period which is nice.

beanielou

It's great to target one debt & see it coming down!

Babybelles

I’ve just transferred another £380 into 0% interest but 4 out of my 5 debts have high interest rates. I  just need to keep chipping away so I get offered better interest rates hopefully.

You sound like you’re doing so well though @savingholmes.

@beanielou it’s going to be so great seeing though debts reducing 😄

savingholmes

Thanks BB. Making the most of lockdown savings. Helped by interest only mortgage. Trying to blitz through debt so can focus on mortgage and financial independence

Babybelles

Another weekend almost gone. We’ve managed to get a few long awaited jobs done on the house & I did a bit of eBaying today so it’s not been too much of a wasted one.
I did manage to break an item in the house when I was having a bit of a cleaning spurt so I’ve just had to spend £14 to replace it. It’s annoying but I’m just glad I didn’t break something more valuable 😅

I have another debt payment coming out tomorrow so am looking forward to the debt number reducing. I really want to make a few overpayments too but don’t want to be too hasty & leave myself short this month.

I’ve also managed to book another food shop so have some meals planned for the week as well as re-organising the cupboards/fridge/freezer so I know what stock I have in. I was doing really well with keeping up to date with what food we had in but I seemed to have let that slip recently. I ended up finding a few duplicates this weekend as well as some out of date stuff which was very annoying!

Anyway, another thing I need to work on is my diet. I’ve been eating lots of sugary things lately & can feel the weight piling on. The more rubbish I eat the less energy I have so my OH is going to get a shock tomorrow when he sees me in my gym gear ready to do some online workouts 😆

I just need to keep hold of some willpower & head into March feeling a wee bit fitter than I have been doing. Tbh I think getting fit & losing weight is going to be a far bigger battle than debt busting though 🙈 

savingholmes

Yeah - I'm finding financial control a lot easier than weight control!