Becoming debt free within 18 months

Getridofdebt66

This week has been a busy one, been quiet careful with money.
I got a new job with more money, should be around £200 a month better off, i will use this to pay more debts off amd become debt free sooner!

Plans for this weekend:
Clubs with dd, tomorrow will cost £1. Take drinks and snacks with us.
Do some paperwork for new job.
Take some paperwork to be signed. Made a start just need to sign and scan
General housework
Washing and dry all washing outside.done
Ironing for the school week.
Try and sell a piece of furniture (was meant to do this last week but didnt get around to it)
Do some studying.
Transfer cashback - got some more to add tomorrow 
Theres a discount food shop i use but it has different things each week. I am going to go there for the shopping and see what i can get today, then will do a click and collect at T for tomorrow after i have done a meal plan. - done i stocked up on plenty, online shop done being delivered as it was 25p cheaper with a 4 hour window than collecting but saves my petrol too
Tomorrow for mothers day, visit moms then come back and have dinner, will get something nice as a treat! 
Going to get a posh frozen lasagne out (it was reduced xmas time and been in the freezer) and steak for oh so it will feel like a treat today for dinner.-done was lovely

Thats it for now, time to get up and make a start for today!

Getridofdebt66

Making progress through my list, writing it helps me in the day stop forgetting what i want to do and helps me try and stay on top!

Now time for a cup of tea and bridgerton! 

Getridofdebt66

Todays been a rubbish day at work, i think i am just counting down my final days, also need to arrange a meeting with new workplace, that will be done tomorrow, i will drop them an email.
Wanted a takeaway did the order then decided to actually make cheese and potato pie as its mine and dd favourite.
Spent £1.75 on a 12.5kg bag if potatoes and some are the biggest ones i have ever seen, me and dd have decided on jackets this week too! 
So NSD number 1 for this week. Tomorrow i will need toilet roll so maybe £2 to spend and thats it, and its one thing you can't manage without! 

Plans for this week
Studying, ive got quite a bit to do.
Email new workplace
General housework
All meals from stores, i have some nice meals in so will make the most of them
Email @sda about some chips i brought they have a weird smell to them so wont get eaten.
Measure up for some curtains for dd room, will get survey vouchers in a couple of week hopefully thay should pay for them.
Have 2 more NSD by Friday.
Try and get to bed earlier, oh is working nights atm and always struggle when he is not here, hench being up so late.
Write out and post some birthday cards the weekend and find my stamps i already have somewhere.

Thats it for now i am sure i will findore to do! For now im off to bed!

shell16

Morning and welcome to DFW.

Well done on starting a diary, it does make you accountable.  I too found myself at a point where I felt I needed to take charge of a never ending debt spiral but posting on here has most definitely helped me to remain focussed and determined to kick debt once and for all and I have had wobbles too.

Have you managed to transfer what you can to 0% interest of low interest?  That way you can make a dent by paying what you usually do without accruing too much extra interest.

Budgeting is a must.  It took me around 3 months to make mine work for me, I tried all sorts of ways, excel, paper and pen and I opted for a budget book which I absolutely love.  I also watch budget videos on YouChoob as I have picked up some really good tips from posters.  The main thing is to log every single spend you make, or go through the last 3 months statements and divide by 3 for your spending categories to get a rough estimate of your spending on food or travel as an example.

I opened up an online account with 'Pots' which I find invaluable.  Each pot is a spending category based on what I spent the previous month.  I budget to zero so each penny and pound has an allocated role to play.  

An emergency fund is a must.  Most opt for £1000 but personally I like to do things in baby steps, so for me its £500.  Since starting my journey I have used that Emergency fund a couple of times without the need to go into a panic mode and raid the account or add to Credit cards. I have just recently used to fund a new washing machine where I had 80% of the cost saved up already.  Im now back to refunding that pot, and when at £500, I will divert the cash into debt or something else.

I started off with debt snowballing, but now use a bit of a hybrid model between snowballing and avalanche.  I also use an a really good app called Debt Payoff Planner, it works out your debt free date and payments you need to make every month to keep you on track by taking the minimum payment due plus anything else 'spare' to clearing debts.  I would personally clear that overdraft as your bank can call that in at any time.  Its also an astronomical amount of interest to pay each day/month.

I have subscribed and will be cheering you on. 
Shell x

Getridofdebt66

Hello shell,

Thanks for your wonderful advice esp around budgeting. Atm i am trying to get upto date with payments and making payment plans. Unfortunately i cannot get any 0% deals so will keep slogging away day by day.
I will also look to make an emergency fund or at least start one with a goal to £500 initially.

I spent £2.99 yest and i have spent nothing today, NSD 2 of the week! I have 2 days off which will comprise of a couple of tip runs so i will get one booked in tomorrow, also need to take paperwork into my future/new workplace so will go to the tip on the way back.
All meals from stores, despite really fancying a takeaway the past 2 days i have just cooked it may have taken a bit longer to get motivated but it is saving me money that i cant afford to spend!
Tomorrow i am still undecided on tea but i have plenty in so will see what we fancy, i may not know what were having but i do know i have already brought it and won't be buying anything! Will also spend some time studying i have some assignments due so will finish the associated reading and make a start! 
Eill send bday cards tomorrow
Its my sister birthday next week, no idea what to get her, my budget is £10 i have a nice photo and a new frame already I may just get her a candle to go with it.....we shall see! 

Getridofdebt66

Yesterday did not end up a NSD , i spent £7.99 on a top and shorte for an event in a few weeks, not exactly mega money and i needed something to wear as i had nothing so will go and pick them up today whilst i am on my travels! So back to 1 NSD for the week!

Getridofdebt66

Morning,

Still no takeaways and its getting harder but i am doing it! Will get chicken out of thr freezer for hunters chicken for this evening! 
I got my sisters birthday present yesterday, i spent £13.99, i need to get the budget down to what i actually want to spend, have some more birthdays next month so will reduce them down to make up the difference! 
I also managed to make a payment plan for another debt i didnt have details to.

Todays plans:
Chase up a payment for oh this morning
Studying
Return some wallpaper not used and exchange for ceiling paint.
Buy a washing up bowl.
Make a trip to the tip
All meals from stores
Get bday card and gift bag for my sister, i searched and have neither.
Write out cards that need to be sent.
Upload my meter readings as the website was down yest.
Collect a parcel

I think thats all for now...i may comeback and add to it later depending how i am getting on with it!

Amber1980

Morning, I also need to try and only spend what I planned/budgeted as I will often think I’ll spend a tenner and end up spending £15 or £20! Been doing this regularly without thinking too much about it for years I guess,no wonder I’m skint!
Am trying to keep it under much better control going forward..🤞🏻🤞🏻🤞🏻

poppy811

I have a birthday and Christmas pot that I pay a regular amount in each month. It has to cover pressies , cards wrapping paper etc.  when I buy something from this category I transfer the money from the pot into my current account.  I add up all the predicted birthday and Christmas expenses and divide by 12 and that is what I save regularly.  Hope this helps.

jokono

Hi @Getridofdebt66
Started reading your diary this morning, it looks like you are definitely on the right track, well done for resisting those take aways! Good for your wallet and health. We have about 2 a month but I have to say they never taste as good as I imagine when ordering 😂

It was said before but I would also try to get rid of the overdraft first. Not sure what the interest is on your other debts but I know overdrafts are high 40%, although I think there is a monthly capping. I also think it will be easier to budget when you're in the black.

When you say payment plans do you mean an arrangement to pay or just standard direct debits/ standing order for the minimum amount? I learned here that arrangements to pay are worse than a dmp/ defaults, they stay on your credit file for 6 years after the debt is paid.