Debt and Budget (Reset) plan

LittleMissDetermined

shell16 said:

I couldnt resist!

Sent £23 to Lloyds CC so balance outstanding is now £1999.
Shell x

This is so like me! Congrats!
LMD x

lucielle

I'd do the same as well!
L

Sarahwithlove

Whoop I would have done the same! 

Keedie

Another one that would have paid that £23 just for the satisfaction of knowing that I'm under £2k! Congratulations. You're racing towards the finish line now, wow!

shell16

Hi DFW's

Thought I would post a quick update.  Had my nails done today and gone a plum colour which look really nice.  Paid £15 as I forgot its an extra £5 to have old varnish removed but still a bargain and I love them!  Paid for out of my own spends for the month.

Managed a £5.79 Prolific cashout too, so sent another £5 to Lloyds CC and 79p to SPC.  Have another £4 cleared and 32p pending so need to do some more surveys next week to get to at least £5 to cashout again.

Next payment to Lloyds CC is my snowballed payment of £231 which is due on Monday so this should see my balance reduce to a minimum of £1749 if I do not manage any more between now and Monday.

I have just less than 2 weeks to go to payday and account is looking ok. Im hoping to have around £50 left over after all payments left before payday which I will use towards my Lloyds CC.  Just 53 days to Financial Freedom!

Thanks
Shell x

LittleMissDetermined

The last few months are going to fly by for you I'm sure   I had a flurry on Prolific the other day and a few were quite high paying but at the moment it's hit and miss.  

shell16

Morning All, what a cold and frosty morning!  

Lloyds payment sent to today of £231 which is a snowballed payment including £117 from my Virgin card now its paid off. Balance around £1752 give or take pence.  My debt free goal is getting ever nearer and Im already getting that overwhelming feeling to try and chuck more at the debt.  Just read @LittleMissDetermined recent diary entry and note LMD did this previously but seems to have left herself short, which I definitely do not want to do, there seems no point in robbing Peter to pay Paul.

Prolific wise I have the full amount on there of £4.32 cleared so need to do some more surveys today to get this to at least cashout level. Also think I saw some save the change in my bank too, so will check later on and send the whole amount including Prolific cashout (Fingers crossed).

Shopping done this weekend and I still have around £23 left form Grocery so hope I can send that on Wednesday when my cash budget resets to one of my sinking funds, including any coins to my penny challenge.

Had some bad news last week, the company I work for is not paying any bonus this year which I usually rely on to pay for our Summer holidays.  Instead they are making a small contribution payment which will be gratefully received but nowhere near the amount I usually receive, further they are making a £1000 payment for cost of living but im not eligible for that.  Im just extremely thankful Im so near to paying off my debt as I can use the extra £685 a month I  pay now towards paying for the holiday.  A bit of a blow but to be honest.  The employees are up in arms about it all, it wasnt pleasant last week!

Anyway, must dash as I need to prepare for several Teams calls and make a brew!

Stay warm today
Shell x 

SusieT

It is a shame for the employees, especially as some will have been expecting something each year and may already have spent it. Very lucky that you started to hammer the debt down early enough to be in a good position to get through with the lower contribution though. 
Much better to not push too hard right now to clear it all early, Lloyds will be close to gone at the end of next month, so that will be a big achievement with only the one to work on, and will feel so much better seeing that balance reducing very quickly, and being able to save for the holiday. 

LittleMissDetermined

That's a bit pants about the bonus Shell, but as you say, you will be able to pay for the holiday once you're not paying your debts. 

In terms of overpaying to get there quicker, definitely avoid leaving yourself short. When it happened to me, I was throwing all my money at my debt and didn't save any for enjoying myself.  I didn't have to use my credit but the lack of money to do things I enjoyed really impacted my mental health and that's when I had a wobble and hubby had to have a little word with me   

I've had lots on Prolific pop up today, but aside from 1 (£5!) they were all full by the time I could get to them. 
LMD x

Keedie

I've also done the mental and social sacrifice thingy with my over zealous debt payments in the past and it doesn't lead to good things I can tell you. So you're right not to do this, as it's soul destroying and can lead to rebellious spending (well on my part anyways).

That's a shame about the bonus and the cost of living payment, but I am glad that you'll be debt free and in a position to still have your summer holiday without slipping back into debt or being in a precarious position savings wise. I need to get my sinking funds in order and my savings as I'm putting debt reduction on the back burner this year.