100k - is not ok!

BlueJ94

good luck! Following along

JohnJ76

good luck OP.  bundling all the debt into one does give you a big total to aim for so as others have hinted having smaller goals (which you probably have in reality) are not a bad thing.  My first goal was to pay off my loan, next it will be my cards.  I'm not even thinking about my mortgage yet! I can live with that though for now. 

An EF makes a big difference though, totally takes the pressure off in the short term, and whilst the experts say pay off debt and and use cards/loans again if you have an emergency etc(use savings to pay debt etc), there are some things that having that buffer there in cash are good for.   I feel far more in control having cash on tap rather than having to then see my debt rise again.  Nearly all debt management is psychological and seeing it reduce every single month puts you in a great place rather than working hard to get it down but then seeing it go back up by hundreds the next time you have an emergency etc.  Having an EF and being able to smooth out the peaks and troughs of spending also encourages more financial discipline.  just my 2p worth.    

TheAble

Skint_but_Optimistic said:

Debt paid 687.00 / 94831.00  Emergency Fund 181.86 /5000

Collecting info for the SOA and have listed some stuff on Vinted at the weekend plus filled a bag for the charity shop. 

Selling stuff's all to the good but cutting your expenses is in my view more powerful tool. Once you've learned to live on lower amounts you tend not to go back to your old ways, and you've therefore created a permanent and hopefully growing surplus.

Skint_but_Optimistic

Thank you, I will get following others diaries to get some inspiration also!

Skint_but_Optimistic

Debt paid 1186.00 / 94831.00  Emergency Fund 251.86 /5000

Hmm so on further investigation it appears an amount I had factored in to my totals, I have actually paid off, I think. Getting that confirmed as its also on my credit report! May be a nice bump in a positive direction!!

BlueJ94

Morning! 

Do you have an SOA sorted or are you gathering info to make your SOA? I only ask as you recent post you factored in money that you've already paid so it might get a little confusing to know where you are money wise.

Skint_but_Optimistic

Debt paid 1186.00 / 94831.00  Emergency Fund 251.86 /5000

I am gathering info setting up payment plans etc etc. There was one where I couldn't find the balance, checked credit report, contacted company holding it and they had failed to update the credit report .

So I had factored it in yes as I needed to be sure. 

BlueJ94

Skint_but_Optimistic said:

Debt paid 1186.00 / 94831.00  Emergency Fund 251.86 /5000

I am gathering info setting up payment plans etc etc. There was one where I couldn't find the balance, checked credit report, contacted company holding it and they had failed to update the credit report .

So I had factored it in yes as I needed to be sure. 

Ah that's fair enough! Good luck on your journey. You're doing great debt busting and sorting your EF! 

Skint_but_Optimistic

Debt paid 1186.00 / 94831.00  Emergency Fund 251.86 /5000

topcashback cashed out just over a fiver, thats getting put away once it clears in.

Sniffers on Vinted but no takers yet. Its free so its fine. Ive a whole heap of other stuff to list anyway!

Skint_but_Optimistic

Debt paid 1186.00 / 94831.00  Emergency Fund 272.04 /5000

Oh the weekend was listing on vinted and cooking cheap meals. No more takeaways!! Big Bills week - and I have paid more from debt, waiting for that to clear.

Debt I am currently focusing on is under 100 pounds, hoping to clear that this week as long as my invoice is paid, then tackle another small one and roll those payments up, and pay off the high interest secured loan @ 100 pounds per week!

So I will start galloping then, the mindset is key just need to make sure I am sorted.