12 months of hard graft to become Debt-Free.

RandomOne

Thank you @savingholmes
Breaking it down is definitely going to help me to stay focused and motivated to pay it off. 

Today has been good. I've not spent any money, and I'm hoping to spend less than £50 between now and New Year on food, as i already have plenty of food in the cupboards. I'll just need bread and milk.

RandomOne

Good Morning. 

I made my 1st payment today!
I only got paid £26.13 this week, as I only had 1 day of training last week (which was my 1st week of the new job) but I put every penny of that £26.13 towards my highest interest debt.

It feels so exciting to have made a start, even if it is really small. I have fallen into the trap before now of not bothering to pay off small amounts because I didn't think they would really help. I need to remember that while the tiny payments may not help alone, add them all up together and they definitely will. 
As I'll be making weekly payments that are smaller, It'll really be important to keep this in mind.

I think I'm already seeing some good news on the side hustle front. I have picked up an extra client, so that will be an extra £150ish a month. So I'll save back 20% for tax and put the rest towards debt too. 

October 1st will be here before I know it and I'm determined to be debt free by then. 

savingholmes

Well done that's a huge mindset shift.

RandomOne

Merry Christmas Everyone  

@savingholmes thanks, I think so too. I really am feeling a change in my mindset and behaviours. 

I've bought myself a notebook to track my debt payoff. I know I have credit card apps that I can see the balance, but I prefer good old pen & paper. Plus I think it'll be good to keep it after I'm debt free, to see how far I'll have come. 

My main focus in 2023 (obviously apart from paying off debt) will be building up my self-employment to full-time income so that I can quit my day job. I loathe retail, but it helps make ends meet at the moment. Once I have no debt, I'll be able to afford to survive on just 1 income as long as it pays enough. 

savingholmes

That sounds a very worthwhile goal. Good that you are not putting too much pressure on your new venture by quitting your job too early.

RandomOne

Good morning. 

I’m a bit concerned about the new job. I was promised 20 hours a week in the interview, but 2 days this week I’ve been sent home early due to not being needed. This week I will have only done about 10 hours. I think I need to chat to the manager really and see what he says. 

If this continues I’ll have to start job hunting. 

Almost pay day, this Friday. I’m looking forward to pay day now, not to buy stuff but to pay off some more debt. 

savingholmes

Hope the hours pick up - that sounds worrying.

RandomOne

Good morning It's payday, which means it's paying off debt day. This morning I paid  £152 off my highest-interest credit card. Although I was really reluctant to make weekly payments instead of monthly, I do love seeing the balance reduce weekly. 

My side hustle has brought me in £147.07 so far this month, so about £110 after I've put aside 20% for tax. Not loads, but every penny will go towards the debt. Like i said in a past post, I have just taken on another client, so I should be able to increase that by another £100 next month. 

Today is food shopping day, so my plan is to keep it under £60. That feeds 3 adults, 1 adult that's here part-time, and 1 cat. I don't think £60 will be a problem as it's mainly just breakfast and lunch foods that we need to be honest. As well as cat food and household stuff. 

I have the day off work today, I'm not back in til Tuesday. I hope the hours pick up too @savingholmes!

savingholmes

Happy New Year

Good luck with debt clearance and savings goals.

RandomOne

Wow, what a difference 10 months makes!

My debt now stands at £5600, so I've paid off half of it already. I hoped to have it all paid off in 1 year, but in reality, I cannot work more hours because of my disabled son. 

That's fine though, my goal is to have the rest paid off by July. 

My husband and I are now living apart, and I have to say that I love it. It's a struggle financially, especially with paying off the debt, but I am infinitely happier. 
I've managed to cut costs down everywhere I can, but as always it's the food budget that needs attention. So that's where I need to work harder on cutting down. 

This month I managed to spend half of my usual food budget, I just need to continue that. It's been really difficult, to be honest, but I'm glad I managed it. 

I'm back on this diary regularly now, I cant wait to say I'm debt-free!