Damsel in Debt

bekah89

@HoneyRoastedParsnip I’ve checked out some loans I am eligible for some really low apr ones but wanted to take the 0% balance transfer as first option then resort to the loans if need be. I’ve been wary of DMP’s because of how they’d affect me in the long run but would definitely go for one if I have to. My phone is in contract until April and then I’ll go sim only which will cut it down a lot. Thank you!

joedenise

Do you have a TV?  You say you've cancelled Netflix so it would suggest that you do but you don't show anything for a licence.

I think you could save some money on the Groceries, £125 is quite a lot for a single person.  

It looks as though you aren't on a water meter with the amount you're paying.  That's more than we pay for a 3 bed bungalow for 2 of us.  Might be worth seeing if you could get a meter to reduce that cost.

bekah89

@savingholmes yes I’m trying to avoid a DMP as I don’t want it to affect me in the long run.  

My phone is in contract until April then I’ll go sim only. 

I’m trying to work my food bill down as much as possible, sticking to a meal plan and batch cooking 
yeah i think Christmas presents will be minimal this year 🤦🏻‍♀️

I use Swagbucks made a bit through that, I will join other good survey sites too 
I can get overtime at my work sometimes so I’ve got extra income some months, I am also looking for a new job anyway with more money 
I’m selling alot of things on eBay and Depop, clothes that I’ve built up 

I’ve got quite a good credit score surprisingly! I’m only using 60% utilisation and always kept to my payments so the balance transfers keep popping up every several months 

Yeah I’m eligible for some loans with really low APR but wanted to go for the balance transfers over them as first choice but maybe consider one if need be. I’ve looked on the credit club and there’s not a lot on offer to me but on Clear Score there’s several balance transfers at 0% I’m eligible for so will get one in December latest. 

Thank you for the tips! 

bekah89

@joedenise yes I’ve got a tv but I was only watching Netflix so I didn’t need a tv licence. Apparently can watch on demand on channel 4 so I’ll just stick to that

yes I’m working on bringing my food bill down, cutting out wine! And sticking to a meal plan 

oh wow yeah I just pay a fixed price for the water. I thought it would be better than having to watch what I’m using all the time but I can probably get it down lower I’ll check it out. Thank you! 

bekah89

Minimum payment paid on my barclaycard today of £225.47 takes it down to £6712.07
Total debt 10825.49

Opened a plum account again today to save my round ups from spending so I can move this extra payment onto my cards 

savingholmes

Great progress 👌

capuchin

You're way off needing a DMP. You're in a similar position to me; sticky but manageable. I opted for a 12 month loan with 6 month moratorium over a 0% shuffle, because it commits me to paying it off, and using the initial 6 months to get myself into a position to pay it off. You need to get rid of that fluid balance by hook or by crook though.

Your budget is quite frugal, though water rates seem high.

A major problem I suspect is: You pay almoat 60% of your income on rent(+ct) and getting to/from work (assuming thats the majority of travel costs). Fixing this is likely to have a bigger effect than any saving on groceries etc.

bekah89

@capuchin yes a loans a good idea I will definitely consider one if I can’t get a 0% card. Either by a balance transfer or loan I’m determined to not be paying that interest rate on the fluid card in January 😆 

I hadn’t thought my water rates were high until reading on here, I am going to look into getting a meter I think. Yes I live in quite an expensive area and my rent is cheap for where I live 🤦🏻‍♀️ Then the 154 is all on my train to work. I am looking for a new job and not fussed about staying in this area so been looking at cheaper places to live with a better income to living costs ratio to free up money 

savingholmes

I agree resolving your rent would go a long way that and a better job... You can do this

anjyeah

Just started reading your diary and thought should cheer you on! I was in a similar position as you a few months back - 0% balance transfers definitely helped and lurking on here helped a lot more. I found interesting challenges to join - no spend days, sealed pot challenge, etc. Also little things like "small debtfree things for the week"... 

It didn't make a big impact then but eventually I learned a lot and changed my lifestyle little by little. 

Definitely avoid doing the DMP if you can and maybe a quick review of your expenses. 
You can do it!