The Mental Debt Struggle...

Keedie

Yes I'm holding onto these moments when I'm cool enough to hang out with @AntoMac, as I know he'll soon have zero interest in being on holiday with me lol. I had to Google Minehead to see where it's at, and I can see why I've never been there - it takes almost twice as long from London to Minehead as it does to Bognor Regis. It seems to be bigger than the one I'm going to and that's fairly big so Minehead must be massive. 

I was quite surprised that he packed his revision books to go on holiday, and I doubt he'll find the time to actually do anything. But I sure as hell wasn't about to point that out, as I could see that he was trying and I didn't want to discourage him!

Keedie

December 2022 Spending Summary

Starting Balance = £16,123.47 | Amount Repaid = £623.47 (2.81%) | Closing Balance = £15,500
Total Repaid to Date = £6,682.54 (30.13%)

Bank of Mum 3 (school fees)
Starting Balance = £3,300 | Amount Repaid = £50 (1.52% repaid) | Closing Balance = £3,250 | Total Repaid to Date= £1,550 (32.29% repaid)
This is plodding along at £50 a month, and in 6 months time, it will be in the £2,000s so that's something to look forward to 🤗. My mum's very chill about all of this and that has started to rub off on me and I'm not as tense about this debt. I also think, that seeing my son actually starting to take his GCSEs more seriously and begin to study, has meant that a lot of the tension and guilt that I held, in terms of being wasteful with my mum's generosity and savings has subsided. 

Barclaycard
Starting Balance = £8,604.58 | Amount Repaid = £279.58 (3.25% repaid) | Closing Balance = £8,325 | Total Repaid to Date = £1,262.80 (13.17% repaid)
Yeah that odd balance was triggering me, so the additional £4.58 that I paid, has made me feel much better 😂! By summer 2023, I would've knocked £3,000 of this debt and paid around 30% of the balance, so that will make me happy. This is still to be cleared after I have snowballed MBNA and Creation, with me reaching £550 a month for this direct debit by November 2023. I've split my debt tracker spreadsheet, so that I can see when each 0% interest plan ends, and so £4,267.80 needs to be paid before 1 February 2024 for this first plan. And based upon my snowballing plan, that will be all be gone by December 2023. With the money that my brother owes me, which is £522 left, I am tempted to pay this off Barclaycard to reduce the overall balance and the amount of interest I may be charged if I don't do a balance/money transfer this time next year. So I might put that money in my PAD Promise Pot (long term PAD Pot for 2023), and if I can't clear MBNA by myself without needing that money, then I whatever is needed for MBNA, but ideally it'll be designated for Barclaycard.

Creation
Starting Balance = £771.99  | Amount Repaid = £72.67 (9.41% repaid) | Closing Balance = £699.32 | Total Repaid to Date = £363.35 (34.19% repaid)
This remains at the normal direct debit of £72.67, and once the final payment is made, I will snowball the value of this direct debit onto Barclaycard. Very pleased to see that at 34.19% cleared, 1/3 of it has gone since August 2022. Happy Days.

MBNA
Starting Balance = £2,539.48 | Amount Repaid = £171.60 (6.76% repaid) | Closing Balance = £2,367.88 | Total Repaid to Date = £632.12 (21.07% repaid)
This is still Snowball Priority 1 and will be cleared by summer 2023. I've increased the direct debit to £202.33 from January 2023, so this will be cleared using my monthly PAD Pot and from any money made from surveys, anything I can sell and using the money from my care role. My PAD Pot target per month will be £150, and if I can reach as close to this as possible each month, then I can definitely blitz this by summer. I'm aiming to do this without the money my brother owes me, as I've said above, so that his debt repayment can be set aside for Barclaycard. If I can clear this before we go to Turkey on 4 July 2023, then I'll be ecstatic, as I can go on holiday knowing that this card has been cleared. But if not, then clearing it by the end of July 2023 will prevent any interest anyways, as the 0% interest free plan expires on 15 August 2023.

Sky Mobile
Starting Balance = £907.42 | Amount Repaid = £49.62 (5.47% repaid) | Closing Balance = £857.80 | Total Repaid to Date = £148.23 (14.73% repaid)
This debt forms part of my monthly direct debit for my phone bill, so like Creation, it will just take care of itself.

Debt Reflection

🤔 2022 has been a rollercoaster of a journey, emotionally, mentally and financially, but I'm still standing. This time last year, I was just existing, and whilst I've had one of my toughest years, I can't lie and say that I'm thriving, but I know that it's all going to be okay...

Although I originally started my diary in June 2022 taking stock of my debts from 1 April 2022, the sh*t hit the fan with my son leaving mainstream school in May 2022 and then being homeschooled via the online school and now doing hybrid learning with the college as well. It wasn't a cheap decision to do the online school, but I don't regret it. Under my original part of the diary, I cleared £3,853.65 between 1 April 2022 and 31 July 2022. Then I did a restart of my diary and debt tracking from 1 August 2022, when I had to rejig everything to accommodate the additional debt to my mum, but since then I have cleared a further £6,682.54.

🎉 So, my total debt cleared since my lightbulb moment on 1 April 2022 to date is £10,536.19!!! 🎉

That makes my target of £10,000 to be repaid in 2023 feel more achievable. But the aim is to also have savings this time next year. So I will be joining a few challenges, and squirreling some money away, so that I can hit my target of £3,650 for my PAD Promise Pot. I'm still aiming to split that as follows if I meet my target.

*60% to debt (£2,190)
*30% to the emergency fund/savings (£1,095)
*10% as extra spending (£365)

2022 has taught me that anything is possible, and to prepared to be surprised by life, but to face challenges head on and to not let them derail you. As...

Chrystal

You have done fantastically well @Keedie and I so admire your determination and tenacity.
Have a wonderful holiday and a brilliant 2023.  (((hugs))) XXX

beanielou

Be proud 😊

Makingabobor2

Well done @Keedie. X

AntoMac

That really is a superb achievement this year Keedie, whilst simultaneously battling some enormous life challenges.
The fact that your teenage son is taking his revision stuff on holiday really does prove that anything is possible! 

Sallyforth

If I had a hat I'd take it off to you!

LittleMissDetermined

It's amazing how much you've managed to achieve keedie in a relatively short amount of time. You are absolutely smashing it and I'm certain that with your determination and tenacity you will overachieve next years targets too 
LMD x

Keedie

Thank you all for your kind words, support and encouragement, it really does make a difference! It still feels surreal that so much happened in 2022, but I'm still trying to plod along.

I had a great time away, and the kids had so much fun. Although my son only packed one football boot by accident, so he was a bit salty when he realised in the Butlin's car park and proceeded to play football in his new crocs. But wet muddy grass + poor grip footwear = falling down a hill and having mud over his tracksuit and most of it was concentrated in an area that made him look like he'd sh*t himself 😂. He wasn't a happy bunny, but he still had a great time. 

I seemed to have picked up a bug though, and I'm not really able to hold down much food. I felt really run down before I went, but I put that down to overworking, but it turns out that I was actually getting ill. But it will pass. But I will have to work from home tomorrow as I feel a bit weak.

I've got my South London Sister into saving challenges! She called me her financial guru because I told her about the 50 envelope challenge and how you save £1,275 with it. She's beside herself with excitement and she's started hers already. I don't have the means to start mine until mid-January. But her compliment was nice.

But I'm not that on the ball as I forgot to turn off my heating whilst I was away and so I heated an empty flat 🤦🏾‍♀️. And my fridge completely defrosted because it was somehow switched off at the mains! The plug itself is behind the fridge but the switch is on the wall behind the microwave, so I don't if the microwave was pushed too far back and somehow turned off the fridge, butI had to get rid of 3 bin bags full of food (I have a small bin as I live on the top floor and the bin chute gets blocked so we carry the rubbish down the stairs. But still). I'm not going to lie, that stung. I've already spent £30 replacing the essentials, like bread, milk, cheese, frozen vegetables, meat and chicken etc. Yet my fridge freezer still looks kinda bare 🥺. 

But I did some MSE stuff today, as I PADded £14.32, with £6.03 as a refund from Apple went into my PAD Pot and £8.29 into my sealed pot challenge. So that's something 😁.

stitching_witch

I don’t think I have heard of the50 envelope challenge. Is there a link for it at all?