in Debt free diaries
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Hi all, very long time lurker here (maybe 7 years!). This board has been an absolute inspiration over the years and debt had risen and fallen - but I’m nearly there. So thought I would do a SOA and see what you amazing people can spot for me on my final push to be Debt Free. I have no Mortgage and own my house. To avoid getting a mortgage I got a few 0% CCs an unsecured bank loan and have a Family loan. I have always kept on top of and over paid all except the bank loan. I am a single mum to my DD and work hard. My industry completely stopped when C0V1D struck, I loved and adored my work (Self-Employed and am keeping my books going until I can start again). I was very fortunate to get a decent PAYE job as a Specialist Key Worker. So for the first time in about 18 years I know how much money I’m getting paid each month which has been both brilliant and terrifying. Terrifying because there is no scope to accept a few more shifts and earn a bit more, but brilliant because I can plan my finances unlike when I’m Self-Employed. Daughter is in final year of A-levels and contributes loads to life and is almost self sufficient with a decent job and is pretty cool to boot. I’ve had a play around with a Snowball Calculator which has been an eye opener in a good way, just wish you could put in which debt you need to get paid off first. It says I can be debt free in 18 months on what I can throw at my debt each month. I am due a few windfalls that I estimate to be around the sum of £10k over the next 18 which I will throw straight at the debt as/if/when it does come in. I can be very frugal so welcome the challenges. I’m going to try and find a SOA template, fill it out and then figure out how to post it on here!
My TOTAL debt is currently standing at £17,272.
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