Trying to Hide a Secret £20,000 Debt is as Tricky As it Sounds! (:#)

annetheman

Just wanted to say that your diary is very motivating. I’m at £17.5k to clear, and I really identified with where you’re coming from!

Keep kicking ***! That £17k will be £0, just have to take it one day at a time!

GeorgianaCavendish

A month off your DFD is brilliant! I get what you mean about wanting to push forward with the payments but try think of it as tactically repositioning WHEN you make them to the end of the pay cycle so that you 100% know that you really have the money available for the additional debt payment and that it isn’t needed elsewhere. 

CMD79

annetheman said:

Just wanted to say that your diary is very motivating. I’m at £17.5k to clear, and I really identified with where you’re coming from!

Keep kicking ***! That £17k will be £0, just have to take it one day at a time!

Thanks @annetheman! And you. What did you start with if you're at 17.5k now?  xx

CMD79

GeorgianaCavendish said:

A month off your DFD is brilliant! I get what you mean about wanting to push forward with the payments but try think of it as tactically repositioning WHEN you make them to the end of the pay cycle so that you 100% know that you really have the money available for the additional debt payment and that it isn’t needed elsewhere. 

Thank you @GeorgianaCavendish

Yes, I need to be more strategic so I don't fall into old traps! 

CMD79

vampirotoothus said:

Hi I think leave the £225 where it is as your emergency fund. Then you can decide how to pay or save any extra money, maybe split it 50/50 debt and savings,  or 33/33/33 debt, savings and holiday fund, so each day you have less debt and more savings, or you could send to debt on Mon, Weds and Fri and savings on Tues, Thurs and Sat and then set up a little treat fund for you on Sunday's earnings. Anything you do at this stage makes you a winner. Keep going and good luck V x

I like the idea of this @vampirotoothus. If I get my annual bonus, I think I will look at it like this 33/33/33. I'm comfortable with my end date being in late 2024 (after 25 years of debt) and I think if I deprive myself too much I'll not keep it up. The idea of paying into certain pots of particular days of the week also appeals to me... I'll think more on that maybe.

Thank you! xx

Sarahwithlove

Its about finding what works for you whilst reducing the amount of interest you pay as much as possible. 

CMD79

Hey All,

I've made a real effort to keep checking in with my debt. I have found this helpful for various reasons, but not least because if I keep reminding myself of what I'm trying to achieve, I won't forget myself and spend money. I've also found that by revisiting the snowball calculator with my updated totals, the date I will be finally debt free is coming forward, and where I can see how close it is to being another month forward, this is helping me focus on keeping hold of my extra funds with a view to paying it off when I've cleared the month. 

I hope you are all getting by okay! 

xx

CMD79

Eeeeew. I am so bad with money. I should not be allowed money.

I've accidentally paid one of my credit cards twice, because, yes...I am just that stupid. So now I am 8 days in and have no money left. Again. I haven't spent any on credit, and I hope I can get through, by again, surveys and hoping some mystery shops start to pay out in the next few days. My husband has got the grocery and fuel money though, and we'd factored in a buffer, so it's not the end of the world. I was so confident I was doing great as well. Maybe next month I'll not balls it up....

  

enthusiasticsaver

Is it worth setting up direct debits to  pay slightly above minimums on all credit cards so you know they are all set up to be paid and then just target any overpayment to the one you are aiming to get rid of first?  That would save you messing up on the monthly repayments as you only have to think about the overpayment so no risk of paying one twice again. 

joedenise

You could phone the CC company and ask them to return the 2nd payment which was paid in error?  I've done this before when I did exactly the same thing - not stupid just a bit forgetful!

Agree with @enthusiasticsaver it's worth setting up a DD so that you don't make this mistake again and can send any extras to whichever debt you are focussing on.