My Debt Free Journey

Keedie

Sorry to hear that you're both still unwell @abaka and that you've lost your sense of taste. Hopefully that comes back soon and you'll both be back to normal soon. It's a shame about your anniversary meal, but I agree that there's no point splashing out on something you won't get enjoyment from. 

It's good that you've got a plan with Pay Pal and fingers crossed your inheritance will be processed by then to take off the pressure with regards to the interest.

abaka

Good Morning!  Today is the first day I've felt proper normal (still no taste) and I'm back in the office today.  Yesterday was WFH and I spent all day clearing emails.

Update on the debt position.  I got payment for some more items this week....and I got a payment from my wife for money I'm owed from her/the house.

So that meant I was able to make a payment of £176 to PayPal which means the PayPal balance is now down to £3752.  I'm also hopeful of completing a sale for £500 this week which again will go to PayPal and then with my end of month payment....I can potentially reduce the PayPal credit amount to £2900.....The relief of seeing this potentially go from a 4 to a 2 in one month is so inspiring....As this is currently the one debt that worries me!! 

Interestingly I did a check last night on a Tesco credit card and I am showing as 95 accepted for a card which has a 9 month money transfer function.(I believe I was only 65% accepted last month for any Tesco Product) so that might be an option for me at the end of next month once I start accruing interest on PayPal.....But I will see how the balance reduces over the next month and what happens with the inheritance.

No update on the inheritance and it's unlikely to come through anytime soon as the next 2 weeks here will be a shutdown due to a public holiday.....End of July is realistically the earliest I can expect it now, and I'm still not holding my breath to have it by then....I imagine I will get it, but I've been waiting for nearly 12 months already so no point counting on it until I get it.  Although with the impact I'm making on my PayPal I may not need the full £4k from it to service my debt so I will have a bit of extra money to put into my savings which is no bad thing.

So far I have had 3 NSD on July - I'm not likely to have one today as I forgot to lift my lunch and as I'm not wanting to spend huge amounts on food I can't taste, vending machine for chocolate/coke it will be!!

LittleMissDetermined

You're doing great on hammering that Paypal credit balance, hopefully your sale will come through and you can see it shift to starting with a 2
Congrats on the NSDs too - I'm trying to front-load July with them as I have a spendy end of month  
LMD x

abaka

Thanks - The sale that is due to complete.  It's an item I'm still having doubts about selling...It's all agreed but the buyer is just waiting for me to give the go ahead to sell....Whilst I'm upset to sell this item (only the second item, I've sold which I didn't want to sell) but it's something I can replace again in a few years time when I'm debt free (without getting in debt).

I forgot to mention in my update, I'm also keeping an eye out today as the dates for the football match I'm going to should be confirmed today which will allow me to book my flights/hotel.

abaka

So, my trip to Manchester has been confirmed.  Flights cost £200 so my half was £100 but the prices of hotels are insane.  A one night stay at an airport hotel was £199 (again, split 2 ways), the same hotel was £69 a night back in February this year when I last travelled.  Flights is prepaid and I had my half sitting in my account and my brother sent his through already.  Hotel will be paid on the day of the game (4 Sept) and match ticket will be paid the week before....So I have two more wages before the trip so enough time to save my accomodation/ticket and also a bit of money for taxi's/drinks/food for the day......I'm warning myself not to go near the megastore this time as each time I go I spend a fortune.....Not anymore!!!!

LittleMissDetermined

Would it be cheaper to stay out of the city centre and travel in on the tram/train for the game?

abaka

LittleMissDetermined said:

Would it be cheaper to stay out of the city centre and travel in on the tram/train for the game?

This is staying at an airport hotel.  Basically my usual plans when I'm at a match is fly in, drop off bag at hotel and then uber to the stadium.  Then get tram to city centre for a bite to eat and then uber back to the hotel.  I usually fly out on the earliest flight next morning so I stay at an airport hotel to ensure I'm as close to airport as possible.

I could have got a hotel in city centre for slightly cheaper but I'd have to leave at like 4am to ensure I'm at the airport in good time for my 7am flight.

LittleMissDetermined

That makes sense, I hate getting up early so I would be inclined to pay more as well!

abaka

LittleMissDetermined said:

That makes sense, I hate getting up early so I would be inclined to pay more as well!

At those prices I was considering just skipping room hire and going straight to the airport....Which I've done before but in my early twenties and not mid 30's....and my brother who is a year away from 40 was also less enthusiastic about that plan.

Ah well - This will likely be my only trip to a match this year.  I had done 3-4 last year and was planning to do 5-6 this year but that was before my LBM and decision to get to grips with my finance....One of the many pleasures I can look forward to treating myself again to when I'm free from....or at least in a greatly reduced level of debt.

I keep talking about being debt free...but my initial goal which will give me much more financial freedom is being in a position to not having multiple creditors and various levels of debt.  Whilst my plan is Debt free in 5 years...In 2 years time I really hope that I only have debts to a minimum of 3 providers as opposed to the 7 I have now.....Realistically in 6 months time I should be free of the PayPal & MBNA and potentially the Lloyds also.

The fact I have decided to start budgeting and monitoring my every financial transaction and not falling into overdrafts or continuing to spend on debit cards is the best way I can achieve that and if I had have that level of maturity/clarity 12 months earlier I'd be probably in half the level of debt I am now!!!  Ah well....Better it happened later than never at all.

LittleMissDetermined

We all have that regret of not taking control earlier. I’m 44 now and have had my credit cards since I was 18 🤯 Nobody really taught me how to budget and it was easy to start living beyond my means.

I originally wanted to be mortgage free by 40, what a pipe dream that was! 🤣

Just be thankful you’re here now and taking control. I know I am.
LMD x