Debt and Budget (Reset) plan

Keedie

LittleMissDetermined said:

That's a great saving! excellent news  
Not sure mine can get much lower, it's currently £155 for the year fully comp   I am not complaining!
LMD x

HOW?! I'd love such a bargain lol. And well done you @shell16 for the savings x

LittleMissDetermined

Keedie said:

LittleMissDetermined said:

That's a great saving! excellent news  
Not sure mine can get much lower, it's currently £155 for the year fully comp   I am not complaining!
LMD x

HOW?! I'd love such a bargain lol. And well done you @shell16 for the savings x

I think it’s the combination of being a middle aged woman, only doing 4.5k miles a year, not driving in rush hour (WFH) and the postcode area. I also have 25 years of no claims bonus

shell16

Morning!

What an extremely cold morning it is too! Lots of updates for me....

Payday today, so shifting of cash to various pots and a chunk paid off debt.  

1. £34 to Virgin CC
2. £100 to Lloyds CC
3. £251 to Sainsburys CC
4. £175 to Vehicle Maintenance Fund (Now Fully Funded)
5. £100 to my new accelerated fund focus (Hols Part 1)
6. £175 to my Variable Funds

I have been able to use an extra £385 in my pay this month to use towards Debt and this has reduced the total from £3168 to £2783 Using the 'accelerated' method I have also now fully funded car maintenance and started on my new focus fund - Hols Part 1 with a target of £500.

So with regards debt my usual DD for Sainsburys CC will come out at the end of December and will see that total reduce to at least £2714 and thats without moving anything further from surveys etc.

Tomorrow sees us as a family going to Stockeld Park Illuminated which we are really looking forward to and will get us all in a Christmassy mood.  This is our 'treat' and feels the right thing to do in view of all the running around I am doing seeing mum. This has already been fully funded and will just need some extra cash for food, drinks which I will use from the Family fun pot.  Cant wait its meant to feel very christmassy and we will need to wrap up warm, but I believe there are various refreshment stops serving hot coffee/tea etc including lovely hot chocolate with cream and marsh mallows

Thats about all for now, but a happy post today seeing my debt total reduce below £3k and 123 days to my (hopefully debt free date), hope to cashout from Prolific today too as I have £4.20 paid and £1.05 pending.

Shell x

enthusiasticsaver

How rewarding to see the savings build and the debt fall below £3k. 2023 will be your year to get DF. Well done on car insurance saving too. Enjoy your evening. 

LittleMissDetermined

Well done on getting below £3k, you smashed through it! I hope you have a lovely time at the Christmas illuminations

MissPennySave

Thats fabstastic getting below £3k! Well done!! Also, what's the accelerated method? MPS.x

Edit: Fabtastic was a typo but I quite like it so leaving it there 

LittleMissDetermined

MissPennySave said:

Edit: Fabtastic was a typo but I quite like it so leaving it there 

This may have just been added to my vocabulary  

Humdinger1

@MissPennySave fabtastic is my word of the year! @shell16 have read your whole diary and subscribed.   You are doing brilliantly...paying off debt while building saving pots is inspiring.   2023 will be your year of freedom.  Onwards and upwards love Humdinger xx 

shell16

MissPennySave said:

Thats fabstastic getting below £3k! Well done!! Also, what's the accelerated method? MPS.x

Edit: Fabtastic was a typo but I quite like it so leaving it there 

Hiya MPS and thanks for the fabtastic message of support! The accelerated method is just my term for a focus fund where I have some spare cash every month and I fund that pot until fully funded.  I will try and find my post for you which explains it a little better. Shell x

@MissPennySave - Debt and Budget (Reset) plan - Page 38 — MoneySavingExpert Forum post dated 03/09/22

shell16

Thanks @Humdinger1 and welcome!, Im really glad you can take some of the things I do and use to your advantage.  Thats all I have done in reality, pinched ideas from other DFW's and taken tips from You Choob budgeters too! You just need to make those ideas work for you.  Shell x