Hello! :)

Damage_Case

Hey everyone, long-time lurker, first time poster here!

I recently had a bit of an epiphany regarding my spending and financial situation.
I've been pretty much living in my overdraft since getting a mortgage a few years ago, and I thought enough is enough. Completely out of the blue one night might I add!
I have never been great with money, mainly due to being a bit of an impulse spender (working on changing that though!).
I have around 13k worth of debts, not including 130k left on my mortgage.
When sitting down and totting up the last few months, I was disgusted to find how much money I actually spend mindlessly (150 or so a month on eating out, 100 on nicotine products), last month was probably around 500 that I didn't need to spend!
I have an OK paying job, with plenty of scope for overtime at double time, which I will definitely be doing more of to clear this debt.

My debts look something like this at the moment 

Paypal Credit - £372.39
Lloyds CC - £1299.84
Virgin CC - £2483.01
Capital One CC - £3674.03
Santander Personal Loan - £4534.50
Overdraft facility of £1890 

I'm not too concerned about missing payments etc, as even with my mindless spending I have never missed a payment, just really want to clear this so I can start making a dent in our mortgage (that's the ultimate goal really).

My plan is to snowball, I know it's not the most mathematically efficient but knowing me, I'll be more likely to stick to it if I have a lot of 'small wins' along the way .
I am also giving up the nicotine and takeaways, and aside from bills, shopping and diesel etc, I'm going to go for 20 NSD's a month (to be honest even one day would be an improvement at the moment!), along with 'rounding down' my bank balance and sticking it all towards the debt (it all helps right?!).
I also intend on finding out what my spending triggers are, and working on that too.

Anyway thanks for reading my rambles, it might not make much sense as I've just got in from the early shift at work so my mind is a bit all over the shop at the mo haha

Look forward to talking to you,

DC x

WinterWarrior

Good luck! I like the snowball method best too. Dave Ramsey talks sense on this method…I don’t agree with some of his stuff as he’s a bit ‘American’, but that bit makes sense to me 😁

Damage_Case

WinterWarrior said:

Good luck! I like the snowball method best too. Dave Ramsey talks sense on this method…I don’t agree with some of his stuff as he’s a bit ‘American’, but that bit makes sense to me 😁

Thank you! Yeah I get what you mean completely, I think he comes across as a bit rude but tough love is sometimes needed I guess! Watching his phone in stuff makes me feel better too, imagine being 1 million dollars in debt etc

WinterWarrior

I like his Instagram page for the sensible quotes. I don’t like how he ties it in to religion, or how he insists on partners tackling money through joint accounts…that’s not always possible or safe or sensible in my opinion. I do like his tough love and the way he pushes people to sort out their own problems in a you owe it, you need to pay it kind of way. There are some nice budgeting you tubers out there too…I get sucked in to watching the huge shopping and batch cooking Americans…goodness knows why 🤣