Washing Away My Debts By 2024

Squirrelz92

Thank you @shell16   luckily all went well with only one tyre to replace.

Thank you @sunshine_raincloud! I do have good insurance regarding the horse and there are options out there for insurance pays out 100% of the costs rather than the current plan I am on to pay 17% of the costs after £160 excess but unfortunately this also comes with a hefty monthly price tag of which just isn't reasonable for me. I currently pay £42.15 a month for £5000 per condition for illness or injury which is decent enough. To have 100% costs paid with another insurance company its almost double this per month. No good now moving really anyway as you can't claim for the same thing twice with pets.

I shall speak to them again once my final bill comes through to see what they can offer me @Deleted_User. Trying not to stress about how to pay it all as of yet as no idea what the total is (although I know it is near to £1000 from workings out). I did have the thought of paying it off on a 0% CC but if they offer payment in instalments then I wont bother

Many thanks @LittleMissDetermined! Very happy regarding the impact on my EF. Oooh shall have to check that out for your Prolific as you are well and truly away with all these cashouts! Very jealous as I am still having a lull with surveys becoming available to me. x

Squirrelz92

So I have gone from feeling elated about the result of my car to feeling as though my progress getting rid of this debt is slowing right down. It's stupid as I know I should feel happy about the progress I have made so far but I can't help but feel upset at not having any spare cash in the bank once again for the second period in a row to throw at CC2 as a bulk PAD.

After paying my car bill totalling £258.49 from my current account after borrowing £100 from the EF I was left with £41. I have had to borrow a further £59 to make up the £100 payment for the horse transport lady this evening which has left me with £0 in my current account. To top it off, I have been worrying about childcare costs for weeks (hate the summer holidays for this reason). The quote for 2 and a half weeks worth of holiday club so I can work is £304. Thankfully they have agreed to let me pay for one full week costing £114 up front to secure all dates. I just need to pay the remaining balance of £190 on the Friday before the next full week of childcare. So I have once again had to borrow £114 from my EF to secure these places. Normally I would wait until my CSA comes in on the last day of the month but by the time I receive this the chances of there being places available are slim. 

So I now have a total of £727 in my EF and a balance of £0 in my current account. I can't remember the last time I had nothing in there so that in itself as upset me. I should feel happy that I have paid for all those things mentioned above with cash and not CC's but it's so hard to I wanted to overpay so badly. Sorry for the moan. Just needed to get it out somewhere and seeming as all of you lovely people can more than likely relate, it would be better understood here than telling my partner or the dog!

I shall post the total payments to all debts tomorrow for the period I work to in the hope that this will further aid me in realising that little and often also helps in the long run!

[Deleted User]

Hi Squirrelz92,

It's ok to feel as you're feeling. Do you need to spend money on food/fuel or any essential bills coming out before payday in a few days? Would you feel more comfortable putting a £50 buffer in your current account?

I know it can feel like a real slog and we throw so much mental energy into debt when our minds caught up we want it gone right now this instant. But for most this just isn't possible and it can feel disheartening . There will always be someone with more and less debt than ourselves, someone able to pay more or less than our own overpayments. Have your moment, let yourself be annoyed then when you're ready dust yourself off and get back to doing what you can, when you can and celebrating the small wins. You really have made progress and I know you know it. Its just one of those bumps and dips on mindset. It.will.pass.

Sending you bucket loads of hugs ( not cash unfortunately)

Adele xx

LittleMissDetermined

There are definitely months (or in your case, pay period) when you can’t over pay as you would want to. We all have these months, so you’re not alone I promise. Some of us even have to put more debt on the credit cards during these months.

Think on the positive side. You’re not in your overdraft, you’ve got a positive EF balance and it’s only a few days to pay day.

As a very dear friend once said to me; it’s time to put our big girl pants on and add a smile.

You’re stronger than you know and you’ll get there. It just takes time.

LMD x

Keedie

You're doing fantastic Squirrelz, and the fact that you had the EF says a lot. I'm one of those people who would've had to use a credit card or borrow as I'm at my limit. It's hard when you have a set back and having a zero balance is frightening and disheartening, but you've made incredibly smart financial decisions that have led to this point and you will be paid in a few days. Hopefully you'll be in the position to make a large lump sum 

Whenever I feel stressed out, I always try to remind that 'This Too Shall Pass', and I have it as the screensaver for my phone and I've got measly savings towards getting it as a tattoo on my wrist as well. It's basically as Adeley says, it'll pass, but you're entitled to your feelings and it's natural for the debt free path to have lots of ups and downs. There'll always be something that happens, but as time goes on, you'll be in a stronger position to weather the storm. You've got this. xx

sunshine_raincloud

Keedie said:

You're doing fantastic Squirrelz, and the fact that you had the EF says a lot. I'm one of those people who would've had to use a credit card or borrow as I'm at my limit. It's hard when you have a set back and having a zero balance is frightening and disheartening, but you've made incredibly smart financial decisions that have led to this point and you will be paid in a few days. Hopefully you'll be in the position to make a large lump sum 

Whenever I feel stressed out, I always try to remind that 'This Too Shall Pass', and I have it as the screensaver for my phone and I've got measly savings towards getting it as a tattoo on my wrist as well. It's basically as Adeley says, it'll pass, but you're entitled to your feelings and it's natural for the debt free path to have lots of ups and downs. There'll always be something that happens, but as time goes on, you'll be in a stronger position to weather the storm. You've got this. xx

Very well said!

CRANKY40

I'd say the misery of having to use your emergency fund is way better than the blind panic of having to put everything on a credit card that may be nearing it's limit. You're learning new, better habits all the time. It's hard but it's worth it. 

Squirrelz92

Morning folks!

I made my final bulk PAD today of £22.29 to CC2 as these are all the pennies that have collated from rounding up when spending this period

Thank you so much to those who sent me words of wisdom and encouragement after my sad spell yesterday. You are all right! There will naturally be hurdles that prevent me from being able to pay off what I would like to. I need to focus on the achievement of overpaying in general no matter how small. I will come out the other side and there is no real rush or deadline (even though I so badly want to be rid by June 2024. Here's to the next month of simply trying my best and being proud of whatever I manage to put towards my debt.

Well its payday eve and I am ready to write up totals thus far  

Period 10th June to 7th July

Halifax CC1
- Opening Balance £2961.06
- Paid £29.61 via DD.
- Closing Balance £2931.45
Not attempting to overpay this card yet as my 0% interest finishes in March 2023.

Virgin CC2
- Opening Balance £2264.40
- Paid £413.39. £25 of this is via DD.
- Closing Balance £1851.01
This is the card I am focusing on overpaying as the 0% interest finishes Jan 2023. 

DWP
- Opening Balance £734.62
- Paid £31.94 via DD.
- Closing Balance £702.68
No pressure with this one either as it will run for 2 years paying the same amount. If I clear my CC's in time before it runs out I will clear this next.

Mum
- Opening Balance £1300
- Paid £0
- Closing Balance £1300
Mum has said I can take as long as I need to pay this back as and when. Aim is to remove the rest and then pay back. 

So there we have it folks. The total payment amount to debt this period is a grand total of £474.94, paying a total percentage of 6.41% of my starting debt balance! I think that's pretty good considering the issues I have had with having to cough up for a few things!

I'm definitely happy seeing it all on screen of what I have achieved in the last 4 weeks.

Here's to another period of overpaying! 

twiggy86

That's amazing progress!!! 

LittleMissDetermined

Looks like you will clear the Virgin card in no time at this rate! Excellent work