Third time's the charm...

LittleMissDetermined

This will be my 3rd debt-free diary and I am hoping that this time I don't fall off of the debt-free wagon again.  My spending is definitely linked to life 'trauma' or drama's, when I am at my lowest points.  
This time it feels different.  I am older, wiser and I am here to hold myself to account, which started with a frank and open discussion with my OH.  My debt is manageable and I overpay, but we are at a point where we want to buy a larger house, which means a bigger mortgage and I don't want my debt to be a reason why we can't have the house of our dreams.  I need to try and remember how to update my signature so I can add my totals, that should spur me on.  
I started today by using my savings to completely clear one of my credit cards and that felt like an accomplishment.  So I now have 2 cards cleared. 

My thought was to try and post here each day or every other day, or even just when I make debt payments so I can keep an account of my achievements.  I know from past diaries that it does spur me on and keep me motivated.  Lockdown has been good in the sense that I've nothing to spend money on and I have become accustomed to not having 'things' or going out. 

Hopefully this will be my last diary as a debt-free wannabe and then I can tackle the mortgage

ttfn
LMD x

Paddington75

Good luck

LittleMissDetermined

Paddington75 said:

Good luck

Thank you! I'm feeling more empowered to do it this time *knocks on wood*...   3 days to pay day, which is when I'll be able to make more of a dent in my debts.  Having paid over £4k off my debts this month (including £2k from savings) I am limping to pay day!

LittleMissDetermined

No spend day for me today, not that there's a lot to spend money on at the moment.  I work from home so there's no temptation of any shops around, the cupboards are well stocked from our weekly grocery delivery so I should be able to get to pay day without spending anything else.  

My main focus is to reduce my debt as much as I can before we move house.  There's a lot to go, but it's been a lot higher than my current balances and that was when I earned less money than I do now so I know it's achievable.  Without spending frivolously I can pay at least £1950 this month off my debt.   There will be interest to add as my 0% terms have run out but that's still a considerable chunk of money being used to reduce my cc balances.  If that continues to be the case (which I'm certain it won't) I should be able to be debt free by this time next year and that would be amazing. 

FootyFanDan

good luck  

ZaSa1418

good luck  

LittleMissDetermined

Last day before pay day and it's not a no spend day. £14 at the local shop for a top up but there's still surplus in the bank so that's a positive. 

Still very focused on those large balances but having looked at my credit report I'm also going to try and bring down my utilisation.  One of my cards has a lower limit and after doing some research I could do with bringing down that balance will hopefully be better for my credit score.  

Here's hoping anyway.  It also seems that the balances reported by the credit card companies is a month or 2 behind so that's a bit of a bother as I've made great in-roads over the last 2 months. 

Can't win 'em all...

ttfn - eagerly awaiting pay day!

LMD xx

elbree

Good luck in your endeavours! Is there any scope to move your debt around when you get to the end of a 0% offer? If you pay off one they sometimes offer a 0% to lure you back in...
Also SO looking forward to payday tomorrow!

designingalife

Good luck !

LittleMissDetermined

Is there any scope to move your debt around when you get to the end of a 0% offer? If you pay off one they sometimes offer a 0% to lure you back in...

Unfortunately not at the moment, but will seep checking!

LittleMissDetermined

Happy pay day! *does a little jig*
Payments made to 2 credit cards today... £223.77 to CC1 and £250 to CC3.  The £250 is a payment of money left over from last month's wages so that's a nice extra chunk of money  

I've also had confirmation that our next holiday has been cancelled as it fell before the international travel restrictions are being lifted on 17th May.  This will be over £900 coming back in a refund at some point over the next 6 weeks and I'll get that put towards CC3 too.  Not sure anyone's that confident about travelling again yet so I'll not be in any rush to re-book.

That's all for now, need to wait for CC2, 3 and 4 statements before I can pay any more at the moment. 

*toddling off to update signature*
LMD xx