Third time's the charm...

LittleMissDetermined

Keedie said:

I think you're doing amazing! I would keep the emergency fund as it is, and keep PADding the way that you are, as it will bring the final balance down even more over time. I really admire how you have a life and still service your debts, so I wouldn't change your way of doing things. It might make your debt free date a little further, but you have your countdown, and when you reach a point closer to say may £200 left for the final payment, maybe then reconsider?

Thank you so much Keedie, I really appreciate it.  I do have days where I feel really positive about where I am in terms of debt but I have been working at it so long now I just want it to be gone!  You're completely right though, leaving the EF in place is the sensible choice and will give me that buffer in case it's needed. 

I did get to a point where I was sacrificing living in order to service the debts. Hubby and a few other forumites helped me see sense though so I do try and have a good fund for living, or fun money as some call it.  When I do go out, I'm usually mindful of what we are spending and we don't go too crazy.  To be honest I have started to save quite a bit now that I'm doing my own hair and nails etc. No more beauty service costs   So I can see that I will still be able to bring my DFD forward anyway.

It feels like the closer it gets to £0 the more impatient I become  
LMD x

AntoMac

I agree with Keedie LMD, do it the ‘hard way’ and keep your EF for emergencies.
You have a clear plan and you seem to be shaving extra bits off as it is. 
For my own part, having been well towards £30k with my mess at one point, I’ve now really broken the back of it. Down to just over £2k of CC balances to pay down. 

I have no set end date, just doing it in dribs and drabs. Joining the PAD challenge on your recommendation has certainly helped me keep it moving, but I’m a haphazard unstructured kind of guy so the balances will be gone for me whenever it happens.
I admire you people who have real structured plans, I really do. 

By paying every last bit down and not using savings/EF I think I’ll learn my lesson a lot better.
It’s amazing how easy it is for debt to creep up for so many of us. 

LittleMissDetermined

Thanks @AntoMac, I know you and Keedie are both completely right.  I think it would be a different story if it was accruing interest but it's not costing me anything as long as it's cleared by 5th Oct next year.  I think it would be good to not be so structured, but I'm a planner and if I didn't have my spreadsheet I'd go out of my tiny mind  

My PAD today is £1 to CC7, I doubt anything will be payable in Prolific today before we go out after lunch. A few drinks in town and a lovely Sunday roast planned and I'm looking forward to it.  It's not a NSD today, but tomorrow should be. I've done well so far this month though so I am hopeful I can reach my target.

Nothing else to report. The EF is still intact and I have started adding to the sabbatical fund already.  18 days to pay day and sealed pot opening day.

Have fun everyone
LMD x

LittleMissDetermined

Prolific has proven me wrong, £7 cashed out and sent to CC7 
LMD x

Keedie

I think £30k to £2k is an amazing achievement @AntoMac! I'm a planner like LMD, and it's good to have structure, but I think it puts a lot of pressure on me personally and I have been a bit too rigid at times. I think the trick to finding the balance, is having some savings where possible, paying more than the minimum payment even if it's a small amount and being consistent with whatever approach you're taking. 

Well done on your sabbatical savings, I'm sure that will make the world of difference when you've achieved that as it will give you so much freedom.

bigbeff

Just like you advised me, if your CC is interest free, keep the EF! It’s so tough some times, we all get impatient. You are doing great… numbers are dropping everyday! 

LittleMissDetermined

bigbeff said:

Just like you advised me, if your CC is interest free, keep the EF! It’s so tough some times, we all get impatient. You are doing great… numbers are dropping everyday! 

Thanks @bigbeff! I know, you're absolutely right and I should practice what I preach   

Today will be another NSD for me, I've sent £1 to CC7 and £7 to the sealed pot. Dinner and drinks yesterday came to a total spend of £54 so not as bad as it could have been. we were in the posh bars where a round of 2 drinks was £14.

Off work today so going to have a day to myself  
Catch you all later
LMD x

abaka

Another vote for keeping the EF!!!!  

shell16

@LittleMissDetermined im another to keep the EF!  I think we are so much alike you and I we get impatient!

I know from experience when having a complete mare of a day when something goes wrong and that EF is there ready and waiting to be used.  Im sure you would kick yourself if you needed to use it and you didnt have it.

Shell x 

LittleMissDetermined

Thanks guys, I'm definitely keeping the EF.  I may have left myself short by starting the sabbatical this month so that may have to be used at some point.  There are some bits that I need to buy that will make my life easier and I'm all in favour of that! I still have my EF in tact anyway so I'm at peace with needing to use the sabbatical. 

Today is not a NSD. I am in the office so I will be buying lunch and we are off out tonight to meet some friends for a few drinks. Only for a couple of hours though.  £1 sent to CC7 this morning as my PAD, not had chance to update the spreadsheet this morning before work so I will do this when I get back home. 

Hope everyone is having a good week so far.
LMD x