Debt and Budget (Reset) plan

swan6060

shell16 said:

Quick check in....

I've decided to treat myself to a lovely shiny new Budget & financial planner Book.  I know I can do this for free on excel etc, but I do prefer the old fashioned way of writing things down!  That way I can keep this with me at all times and check whenever I want without having to log on.  Its out of my own account, which I can spend on whatever I like.  Should be delivered tomorrow and I cant wait! LOL

I've just realised too that I need to have a zero balance, which I haven't been doing previously which is likely why I'm occasionally touching in on my overdraft...the penny has dropped.....finally .

Small steps still, I need to get my head round budgeting and think this is the way forward for me, fingers crossed.  I need to nail this.

CC2 & CC3 payments will be coming out this week, still trying to make little PAD payments each day too.

I agree with some of the recommendations. Easier to use an app for tracking and spending the expenses. Saves your time as well. By the way, you're really doing well on the overpayments. way to go!!!

EssexHebridean

Well look at that weekly summary - HOW much progress?! Great work - well done. Glad DD’s on the mend now too, you must have been really worried. 

shell16

EssexHebridean said:

Well look at that weekly summary - HOW much progress?! Great work - well done. Glad DD’s on the mend now too, you must have been really worried. 

Morning @EssexHebridean

Yes im really happy with the amount ive paid this week.  Im still chipping away, im determined to carry on and get that balance on my Lloyds card with the extortionate rate paid off as quickly as I can!

shell16

swan6060 said:

shell16 said:

Quick check in....

I've decided to treat myself to a lovely shiny new Budget & financial planner Book.  I know I can do this for free on excel etc, but I do prefer the old fashioned way of writing things down!  That way I can keep this with me at all times and check whenever I want without having to log on.  Its out of my own account, which I can spend on whatever I like.  Should be delivered tomorrow and I cant wait! LOL

I've just realised too that I need to have a zero balance, which I haven't been doing previously which is likely why I'm occasionally touching in on my overdraft...the penny has dropped.....finally .

Small steps still, I need to get my head round budgeting and think this is the way forward for me, fingers crossed.  I need to nail this.

CC2 & CC3 payments will be coming out this week, still trying to make little PAD payments each day too.

I agree with some of the recommendations. Easier to use an app for tracking and spending the expenses. Saves your time as well. By the way, you're really doing well on the overpayments. way to go!!!

Thanks @swan6060
I have tried the Apps but I cant make a do with them, I like the book format it works well for me.  The only App im using now is the bill checker, as and when I pay a bill I click off as paid.  

shell16

Happy Monday, Why do the weekends go so quickly?

I have paid my usual payment to my loan today, I will be breaking the next Thousand bracket with this payment and think I will end up at around £10800 total debt, meaning I have paid £3K since my LBM.  Wont update just yet until its on my banking app with the interest applied.  Im so flippin chuffed!  Not so long now to breaking the 5 figure debt to a 4 figure debt!

I have been reading diaries again over the weekend and 1 which I have been following for a while has made it onto the Roll of honour.  This has given me so much motivation as I too want to be on there.  Its definitely a long haul getting yourself out of debt, and once I do I am promising myself now and being my future friend, I will Never get back into debt again!

NeverendingDMP

Well done and good luck in getting into 4 figures. Won't be long now

shell16

NeverendingDMP said:

Well done and good luck in getting into 4 figures. Won't be long now

Thanks for stopping by @NeverendingDMP.  Will very much likely be February when I break into 4 figures, but im hoping I will break in January instead. Fingers crossed

shell16

A small update.  I've broken the next thousand bracket of debt woohoo!! I must admit I fist pumped the air!! 

EssexHebridean

I should think you did - well done! You are SO focused - it's really good to see! 

shell16

My weekly update 1 day early!

* Not going away for Christmas as DH now has covid!  Mad dash to Supermarket buying everything food wise!
* All christmas presents bought and wrapped
* Finish work today until next week just for 1 day!

So these are my totals as of today

Total at LBM August 2021 - £13801.67
Virgin CC1 - £2641.94/£999 (62.2% reduction)
a) 26.55% - £495 Paid off 04/10/21
b) 0% - £2146.94 now £999 
Lloyds CC2 - £5654.40/£5605.81 (0.9% reduction)
a) 25.55% - £1178.62 now £1057.00
b) 3.9% - £4548.81
Loan - £6001.33/£4172.77 (30.5%  reduction)

Total = £10777.58 (paid £3024.09 off debt)
21.9% Reduction since LBM

DFD - October 2023


🎄#18 Saving for Christmas 2022 🎄 - £162.18/£1000
Pay all your debt off by Xmas 2022 - £510.26/£8000
PAD started 06/10/21 - £615.01 Extra paid off debt

To compare my progress over the last 6 days

* Paid £115.26 off CC2 (@25.55%)
* Paid £368.62 off the Loan
* Total debt reduction from 18.4% to 21.9%
* Over £615 of PAD payments made above usual monthly payments which is an increase of £115.26

Until next week