Steph does debt

rdchick

Hi all! 

I thought I'd get my thoughts and wins (and loses no doubt!) Down while on this crazy journey! 

So bit of background...
I'm a mum to a toddler, a nurse, a partner and in around £17k worth of debt! I've been in debt for such a long time, over a decade but it's time to change! I buried my head in the sand in 2012 til 2016 and then I started opening letters again.. the first one being a notice of a CCJ against me.... But it falls off this year 🙌
Anyway, I've been good since then and faced everything head on... But also accumulated more debt which I'm now paying off... The numbers are as follows

Credit and store cards
Capital One¹ £226 (it was £1200 last month!)
Capital One² £229 (0% interest)
Aqua £1142.78 (£850 is at 0%)
Fluid £753.13
Next £1180

0% interest from old defaults and the CCJ

Lowell £3151
Restons £1920

Car £5664
Overdraft £2000

So I've started budgeting and last month was my first full month of budgeting and it went really well. I pay myself £50 a week for spends which is probably more than I need but it's meant I've not been tempted or needed to use my credit cards etc 
I work 30hrs a week in my permanent contract but also do bank shifts (on my own ward so I'm also progressing my career as well as making extra cash). I aimed for £500 extra in bank pay but last month I made almost £1000. I plan to do this every month until it's paid off. 

The plan is to finally get a house with my boyfriend and be on the mortgage for once!

So anyway, that's me. It's almost payday again so let's see what damage we can do this month! 

elbree

Well done for getting started and beginning a diary. When are you planning to get it all paid off? It really helps to have a date in mind and then try and bring it forward. 

rdchick

Hi! Thanks! Hope to have it off by September, well maybe not the car finance but the majority of everything else. I've paid off £1700 so far this year so I'm pleased with that! 

I plan to pay off Fluid and Capital One¹ off in March then all but around £300 of credit cards are on 0% until August so I can tackle Next after that! 

I've got the debt planner app and it thinks I can have cards and Next paid off by July 22 but I think it'll be sooner than that! 

rdchick

Payday eve! 
It's always full of hope and wonder, whether it's the main payday or a little payday. The night before is always a little exciting... Made even more exciting by the fact that Santander pay me around 9/10pm instead of midnight so I get to shuffle things around before actual payday! 

I've made my budget, set myself £50 a week again for whatever I want. This really seems to work to stop me needing to spend anything on cards or accounts. Plus by having it in cash I can actually save real money too. 

I set myself up a monzo account last month and have been having fun setting aside the money for sinking funds in their pots system. As it's out of sight it's out of mind too and that makes it so much easier to save! 

I never really thought it could be possible to save as well as pay off debt and I know people suggest that we throw everything to debt I think it's best to be realistic and setting up cushions for the expenses we know are going to pop up so we're not tempted to dip in when your brothers, friends cousin needs a birthday present etc. 

Anyway feeling rather positive right now 😊 hope you are too! 

FootyFanDan

Good luck

rdchick

FootyFanDan said:

Good luck

Thanks Dan! ☺️☺️

rdchick

Payday! 

So as it's a weird short month lots of the bills came out today instead of the 29th etc and 2 debt payments, one for my car, one for a repayment of an overpayment of my last job 😣 so that's a yay to be able to tick those off...

The I paid £70 to Next and £51 to Capital One ¹ as on Friday when I get paid again for my bank shifts I'll be able to pay another £175 and that's Capital One¹ paid off completely... Which feels insane. 

Tomorrow I'll pay some more as I want it to be the 1st instead of still February (if that makes sense) but it's a good start. 

I also got £200 out in cash... Annoyingly all in £20 notes 🤦🏼‍♀️ so I'll have to sort that out at some point. Normally the teller asks you which notes you want but this guy didn't and I forgot to say.

I've transferred £200 to my monzo to put £100 into my car pot as it's MOT month and £35 to the emergency fund and the rest is for fuel but at the mo I have a very full tank of diesel so I don't need any. 

So all in all a good day!

teaandcupcakesplease

Ive subscribed! good luck on your journey. loving the enthusiasm.  is your partner on board or is this your mission? xxx

rdchick

Ahh thank you! He's supportive in that we have the same end goal in buying our house together but he's doing the saving for the deposit and fee's while I pay down debt. Then we will pay everything 50/50 like we do at the moment. 
This credit card debt has been accumulated while I was on maternity leave financing a life I needed to keep my mental health safe (ie lots of mummy meet ups at places for lunch 😌) which of course looking back was a little silly but if I didn't do what I did I'd be in a much worse position if that makes sense. My partner knows everything, CCJ and all, and has done from the beginning so there's no secrets etc. 
I'll look out for your diary (if you have one) and subscribe too! It's so nice to be able to write things down and also to read other people's progress and journey too! Xx

rdchick

Hello March! 

How exciting! A new month! A fresh start! 

So I've paid another £50 to my debt this morning. My current account looks decimated 😂 it's so weird to be at the start of the month with not a lot in the account... But all the money in it covers all the bills left to come out... I've got my cash for the next 4 weeks (pay day is on the 28th so literally less than 4 weeks til payday again 🙌) 

Feels so good to have a plan.

I'm excited for bank pay on Friday to all go to the last of my capital one credit card. I've had that card for about 3 years (impressive as I have a CCJ) and it's got me out of some holes but it's also got a huge APR so it's going. 

I understand it's not ideal to close accounts when you're wanting to buy a house? I assume I should keep it open but keep it low to 0? 

Anyway today's plans include

Brunch with a friend / colleague with my daughter too

Hair cut

Then working the night shift tonight 😣

Hope you all have a lovely day!

teaandcupcakesplease

Hi i love a fresh month and a plan. Great your husband is on board. i totally get the mummy meets and the MH aspect and dont ever feel bad about it because for me, that was essential!

Have a lovely Brunch Im just back from the bank so i have take out my pocket money and put my cards away. Cash is  best for me just now lol  

xx