Is there anyone out there...?

MrDFby40

Good afternoon everyone!

I've tried this a couple of times and made some good headway, but have also managed to slip back.  So today I am starting a diary to keep myself in check!
My backstory is I separated from my wife in May last year following a loveless marriage for the previous couple of years.  It was an amicable separation, our two boys stayed with her and I moved out - firstly stayed with a friend until I found somewhere to rent a little later.  I built up credit card debts without her knowledge, over spending, inaccurate budgeting and the whole "I deserve this" attitude that comes with working hard and earning (what should be) enough money.  She has no idea that a huge portion of my income was/is taken up by paying off debts and we've always managed to keep things in the green for the house account.  She has always been really good with money and believed me to be as well.

Fast forward to almost 9 months later and I am finding myself on my own, in my rented house in lockdown number 3 and incredibly lonely. I have a support bubble with one other mate who I see sporadically but is very busy with his own life.  I am desperate to take control of SOMETHING in my life so I have focused my energies on my debt and calorie consumption!  I don't need any assistance with my budget now, I have worked it out and my SOA is strict but achievable, all I need is some motivation and cheering on to stick to it.  It's relatively easy not to over spend in lockdown, although I am still working so find myself popping to the shop for a sugar rush, even though I've brought my lunch and snacks in with me.

Here are my current debts, which I will make a signature to update and keep me on track:
Next directory: £330.78 - 23.9%
Halifax CC: £7808.67 - 19.3%
Tesco CC: £10291.36 - 19.5%
Barclaycard: £14986.60 - 16.71%
SCS Sofas: £420 (ish) - 0%

I have around £1000 a month to throw at these debts and my snowball calculator tells me it *should* take me 46 months.  Although my ex-wife and I will probably look to sell our house at around the 42 month mark.  The Next directory account is being paid heaviest first, and the sofas are on a fixed £32 per month DD so these will just keep rolling.  And of course I will throw any "extra" money I get at these as well to get debt free before I'm 40, which is 4th September 2024. [Worked out how to edit that as I originally had it at 2021!] I think this is a realistic timeline and will give me a nice fresh start for my 40's, with the house sale I should receive about £30k, and I should only have about £5k to clear by then, giving me £25k to put down on another house deposit for myself.

So this is my plan! I hope you will all help me to keep on track as well as keep me company, I use Yolt for my "pots" but also a very strict and clear spreadsheet that I look at every day, even if there is nothing to update.  If you've read this far, drop me a note to say I and I will do my damnedest to keep engaged!
Thanks for reading,
Charlie.

Sunshine_girl2

Welcome to the DFD board , sounds like you have a plan that's a start. There are a few chaps on here as well so am sure they will comment . 

Good luck with it all . 

MrDFby40

Thanks Sunshine_girl2 

Toni'sfriend

Hello. It's nice to meet you. I haven't been anywhere since 16 December. I am retired and live with my other half (Himself) and am in a bubble with my grown up son (The Boy) who lives alone and works from home. I speak to him most days but only see him briefly once a week. It must be really, really difficult to be living on your own in rented accommodation. Pop in here when you feel like it and have a chat. Let us know what and how you're doing. There's always someone reading. What kind of hobbies do you have?

ladyholly

Hello and welcome. Do you have access to any 0% credit as that would get you debt free sooner?

findingthisdifficult

Welcome along to the DFD section, you'll get lots of support and advice here.

As your balances come down, you may see 0% balance transfer offers which will hopefully help you get debt free quicker.  Remember it's a marathon not a sprint and life happens so don't beat yourself up if one month you can't give the full £1k to debt clearance. 

Karonher

Good luck on your journey. Just checking as I am a bit confused, when is your 40th birthday?

MrDFby40

Thanks for the replies - there really are people out there!

@Toni'sfriend - I normally love the gym and running, but find it difficult to get motivated with home workouts.  Coupled with the fact I am nursing an ankle injury at the moment means I can't get out there!  I need to get back into my home workouts, I was so dedicated when it meant getting out of the house for the gym but it's more difficult now.  I also spend a lot of time lurking on here and reading everyone's diaries! 
@ladyholly - I don't have access to any at the moment, I was surprised I got accepted on my sofas if I'm honest but relieved I was, I've had to furnish this place from scratch. I didn't want to remove anything "homely" from our house because I didn't want the boys to be affected any more than they had to be.  I figured removing physical items as well might have been a bit too much.
@findingthisdifficult - thank you! I needed to hear this, I am hoping for some 0% offers to help me bring this forward. I'm nervous of applying for more at the moment because I don't want to hurt my chances of getting something when I'm more "likely" to get one, does that make sense or am I reading too much into the application process?

MrDFby40

Karonher said:

Good luck on your journey. Just checking as I am a bit confused, when is your 40th birthday?

You're right to be confused, it's certainly not 4th September 2021! Sorry, for some reason I can't edit it either, I's 4th September 2024.  Clearly wishing the time away!

FootyFanDan

Welcome and good luck on your journey

findingthisdifficult

If you haven't already, sign up to the credit club on here, you can get a good look at what is available to you as the balances come down and it won't have any impact on your credit score.  I found it really useful when I had to do some transfers during my debt busting journey.