Making my mess my mission

BeeFocused

I have been reading these diaries on/off for years but never got to the point of starting my own one. 

This time I feel much more determined. Don’t really know what has change.  I really started by addressing my food problems and realising that I’m a sugar/processed food addict.  I have been working on that for months and know I feel ready to tackle my finances.  It really all started when I went on maternity leave with my first child.  I don’t really have any excuses my parents was/is very good with money. My mum always tried to educate me since I was little. Not to get anything on credit. They paid their house off when they were young. I’m sure my mum will be very upset and disappointed if she knows I’m in this situation.

The last month I have stick to my budget. Did some overpayments. Unfortunately it doesn’t look like I can move to a 0% credit card anytime soon as I’m close to all my limits.  

My debts:

BC:          6630.         (150)

MBNA:     4167.        (130)
AA/JaJa.   4747.       (130)
BC overdraft.  1600
santande overdraft 1000

First plan is to start with my Barclays overdraft.  I earn between £1000-£1300 a month and don’t really have many other main expenses as tax credits and child benefit (and husband) cover the other expenses. Soon my income should increase as I’m increasing my hours from 3 days to 5.
Our mortgage is only £200 at the moment. As a interest only mortgage.  Before COVID we paid £1200 but had to decrease it for now.

FOMO_overspender

Firstly, well done on taking the steps to tackle your debts! I know for me starting a diary really helped me - especially the helpful advice.

Do you know what the interest % is for each of your credit cards/overdrafts? As I would recommend paying off the one with the highest interest rate first so you reduce how much just goes to interest and does drive down your total.