Taking charge of debt

sunshine_raincloud

Squirrelz92 said:

Wow you are storming through this debt @sunshine_raincloud! So happy for you 🎉 Great idea with the £1 a day to your Xmas fund. I would love an electric blanket but with already owning three normal fleece blankets I think I shall have to pass this year It's scary isnt it not knowing what state we are all going to be left in after winter. Really hope your house sells quickly so you don't have as much to worry about with the SVR and energy increases. Are you looking to buy somewhere smaller or are you planning on renting? x

Hi @Squirrelz92 thanks for the comment! Yes you are right it is quite scary at the minute. I am trying to pay my debt off as quickly as I can for this reason but part of my brain keeps saying I should be prioritising saving. My outgoings are relatively little at the moment though as I don't have any children (just a fat, grumpy tabby cat) and I don't have a car or anything. Think it is definitely easier to cut back on things when it is just yourself so my heart goes out to anyone with families right now who are finding things difficult, which I know is a lot of people up and down the country! 

My plan is to sell the house and move in with family for a period, which isn't ideal but will save me a lot of money. My boyfriend is locked into his mortgage until next year so once he can put his place on the market we will start looking together. Hopefully by then I will have been able to add a bit more to my deposit as well. That's the plan! Will have to see what is happening with the housing market though. Who knows we may end up needing to rent. I am craving a bit of stability though! 

£300 regular payment sent to CC today bringing my total down to £1899. Happy to have broken the 2K mark. I feel like this last 2K represents my original and longest debt, which is my overdraft that I have had since I was 18 years old. I transferred my overdraft debt onto a 0% CC with a money transfer right at the point of my LBM as I have always struggled to dig myself out of it despite multiple attempts in the past but I think it will be much easier to pay it off now it is on a card that I cannot touch! 

Next mini-milestone will be reaching final quarter of my debt. I think I can see light at the end of the tunnel! 

Thanks to everyone who has read or commented so far on my journey. It honestly means a lot

beanielou

Great result 

savingholmes

You continue to make great progress. 

Good luck with your plans.

beanielou

Great result 

Squirrelz92

Sounds like a great plan moving back home. It will definitely help with some extra savings whilst you wait for your boyfriends fixed rate to finish. 

Wow under the 2k's ✨🎉🎆 Incredible!!! Sooooo close to the finish line now!! x

sunshine_raincloud

Really struggling to sleep with the heat tonight! 

My last switch bonus came in today bringing the total amount I have received from multiple switches up to £700, which isn't bad at all! There are still a couple more switches I could do but think my credit rating has taken a bit of a battering with all the opening and closing of accounts so going to leave it for a little while to recover. Wish I could say I put the money received today to my debt but added it to my holiday fund as it needed topping up. Made a couple of purchases today for holiday and also a dress for a wedding, which is the day after I get back. The dress I got on vinted though, where I bought it for a third of the price it is currently being sold in the shops so not feeling too bad about it. 

Not really got any other MSE news. Hoping for a NSD tomorrow as I will be avoiding the heat. 

Hope everyone is managing okay! Thanks 

savingholmes

Great stuff on the switching bonus. I need to do some more.

sunshine_raincloud

Hello everyone,

Still feeling very drained from the heat. Not a lot of energy to do very much at the moment! £22 sent to my CC this morning as part of envelope challenge (18+4) bringing total down to £1877. Still waiting to be paid for the extra shift I did, which was a month ago now. They are supposed to pay the following week! It is always the way but it will be a nice surprise whenever the money does eventually show up. Still hoping it will be before my holiday in September though. Dress I bought on vinted fits perfectly and is actually really nice, so pleased to have got it a third of the price it should be in the shops! Have had a couple of spendy days to be honest. I find that it is harder to stick to budget when weather is so nice! I should try to reign it in though as still a little while to go until payday. Still hoping to be debt free within the next couple of months but thinking maybe more likely October now than September. Let's see what happens!

I hope everyone else is doing well 

sunshine_raincloud

NSD for me today (declaring now to try to prevent myself from spending any money later ) also Prolific have finally emailed me after months of being on the waiting list so just waiting for my identity to be confirmed then I can start doing some surveys! Another couple of items sold on vinted, which I have posted today. Will only make £11.50 but it all adds up!

savingholmes

Well done on the sales and the NSD