Debt and Budget (Reset) plan

LittleMissDetermined

What a lovely thing to decide to treat yourself to, it's always nice to spend money on experiences rather than physical things and I'm sure you will all enjoy it, regardless of how cold it is, get wrapped up!
LMD x

shell16

Forgot to mention paid £50 to Virgin CC yesterday! Thus has come from my PAD pot from Prolific surveys, saved travel expenses etc. 

Shell x

shell16

Morning all,

Quick update from me.  £20 PAD sent to Virgin CC as I received a refund on a pair of faulty school shoes for my daughter, only had since 16th September and toe end of shoe has gone right through.  I did have to buy another pair whilst they sent to be quality checked so thought best place for the refund was to go to debt.

Ive also paid my regular Direct Debits to Virgin and LLoyds today at £231, so the balance outstanding is inching nearer and nearer to the next thousand.  By the end of December, I hope to be in the 2's but feel that's a big push, im happy with that figure anyway so if I dont manage to pay anything more I will be starting 2023 £7407 less than the same time this year.

Im starting to think about my goals I want to achieve for 2023, I have treated myself to a new budget planner as my other one is nearly full, new year and new start, and I plan for 2023 to be my year being debt free.  Im keeping my DFD as August 2023 for now, but I am hoping I will pay all debt off before that date.  

Thats about all for now.
Shell x

MissPennySave

That's brilliant! Inching closer to that finish line!!! 

We had a pair of school shoes go in the bin last week, but sadly the dog was to blame one day my children might learn not to leave anything they remotely like and would like to stay in one piece laying around!! MPS.x

shell16

Evening!

Not much in the way of anything new is happening at the moment.  I paid £11 to Virgin CC which now sees the balance under £500.  I have had a great day on Prolific and completed surveys which total nearly £12, so a good productive day!  I have also cashed out £9.41 from Topcashback which im waiting to hit my account, and I still have nearly £37 pending and also around £35 in missing cashback for which I have sent through 'missing cashback' claims.  All this will head to Virgin CC when Im able to cashout.

My cash budget has reset today and I managed to save just over £30 out of my grocery budget last week which Is great.  There would have been an additional £10 but hubby raided the grocery cash to get a haircut!  Ive sent the change to my penny challenge (which I will be declaring next year as part of the sealed pot challenge) and the notes have gone to my 2nd EF. 

Just another week until payday and it will be first one in 5 years where we are £385 a month better off after paying off the loan.  Im going to use most of this to accelerate the debt payments with some also going to my 'accelerated fund pots' so I can get them filled more quickly.

Im all done and dusted with regards Christmas Present buying and now the part I hate doing - wrapping!  Im going to start this weekend doing a few a night, hopefully by mid week I will be finished.

Thats my update, off to chill out now!
Shell x

MissPennySave

Great update! I'm on the waiting list for Prolific, really hope they let me in soon! 

Good luck with the present wrapping!!! MPS.x

Sarahwithlove

Well done you are doing so well with your debts. Just feel so good having paid the loan off and know that next year you will be able to say you are debt free 

Keedie

I'm so impressed with all of your success and focus (and your signature which looks so structured I'm jealous). I hope you keep some of your additional income this month from clearing the loan, to have a nice moment/treat with your family if you're able to.

I need to really get on top of my own cash budget, you're inspiring me with yours. I need to make some changes for 2023 and getting on top of cash and zero budgeting should make all the difference. I can see that you've been successful with it and that inspires me 🤗.

enthusiasticsaver

You are getting there with the Virgin CC.  Soon just  the 2 cards left. You should have those gone next year too so that will be a massive increase on monthly disposable income with the debt gone. 

Great you have the extra £385 monthly from the paid off loan.  

shell16

Thanks @Keedie, love that I have managed to inspire you.  Its been a difficult road made more treacherous with the cost of living emergency, in fact a good few months ago now, I posted a story where I was feeling quite upset from the worry of the price cap and that I felt it would derail my progress.  I suppose you have to find innovative ways to do things where money is involved. 

Im so very thankful that my loan is paid off and this gives me the room to choose where I direct that additional income, Im in a very fortunate position I know.  But apart from the loan, its been focussing on free money for me that has helped me so far, so surveys, even a short spell of matched betting (this was too nail biting for me so I didnt progress further although I did come out with more than I started). 

Aside from free money, focussing on my budget,  its become a daily check in, shifting cash from pot to pot, making sure Im not adding to debt.  Its key to have a budget that works for you and your family, so for us, we tended to overspend on grocery and fuel for the cars which is why I moved my budget to cash in those areas.  Its become a goal to have cash left over, and my 2nd EF has been funded so far from that left over cash.  I have watched you choob vids of other budgeters, pinched some of their ideas and moulded others to fit my own wants.  You are doing really well too Keedie.   

@enthusiasticsaver, really feel im on the home stretch now, I can see the light at the end of the tunnel.  I can honestly say hand on heart that I have never been so focussed on clearing debt and that once im out of debt I will never go back there!  I can also say I will take the positives of budgeting and planning with me throughout the rest of my life and I hope to build savings to enjoy in the future.

Shell x