I can do it: £41,000 debt in October 2023. Debt-free in March 2025?

annetheman

I am so happy today I have accepted the job offer at an additional £5k - my monthly take home being £4113.30 from June would decrease my DFD to at least December 2023, maybe sooner if I can!

I need to adjust my plan from July 2023 in my budget sheet to increase my snowball but I can't seem to figure out how to work out the payment amounts/snowball after then - I think it might get a bit chaotic, where I have liked up until now having a clear amount to overpay by.

Maths fail - will have to sort it out closer to the time..!

And so far - 3 spend-free days this week. Really happy with the last few weeks' progress!! 

#DebtFreeWarriors!

beanielou

Great news on job & new DFD.
Only 9 months to go!

annetheman

beanielou said:

Great news on job & new DFD.
Only 9 months to go!

Thank you so much Queen of DF!!! 

annetheman

After a streak of no-spend days Monday to Thursday, I did a Costco shop of necessities only and a few treats (lip stain, new hair conditioner and some hydrating eye drops) - I'm going out with a friend today to celebrate the new job, so lunch included plus cinema with dad tomorrow makes it quite an expensive weekend, relatively!

Luckily I'm travelling for work next week, which means I won't have the opportunity to spend anything! I think most of the rest of March will be top up food shops for veg and fruit (where I can find it -- all supermarkets seem to be low near me...! Market it is).

I have shifted around my budget for the month and Amazon just took £95 for Prime membership, so it'll be a tightened purse strings month for sure. And it's only the 4th 

It helps to keep reading other peoples' diaries, and maybe posting a few small wins where I have a no spend week or use some cash from something I sold for a food shop.

Going to have to do that this month!

elsien

I think I just need to stop going into shops. Called into a supermarket yesterday for some yellow sticker veg, and came out with two boxes of reduced beer (In my defence they were down from six quid to 1.25) and a chocolate cheesecake. None of which were on the list.
I’m also annoyed with myself because Morrisons had a £2 voucher yesterday which I completely missed because I didn’t set a reminder. 

As you say, small wins. And a reminder that you don’t have to buy something just because it’s a bargain which is my downfall.

staffiemummy

I just caught up with your diary! As a fellow single person it is really hard sometimes to keep myself from thinking too hard about how much money I would save if I could split my costs! Very jealous of your allotment as well - I would adore one but I don't have the time!
I have such a similar spreadsheet but mine is coloured boxes and a % tracker similar to my signature, really keeps you on track doesnt it! The grey boxes are for pending payments due this month  

annetheman

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The amazing news -- I paid off my highest rate (15.9%) credit card in full yesterday!!! Amazing feeling, now I can roll the snowball over to my 0% that is expiring October 2023.

The bad news -- my aunt died and I've paid £600 for plane tickets on the other 0%, so addition of that credit card debt.

It's been a sad week, but I'm plugging on. The plane ticket money won't add any time to debt-free, now I have my snowball to roll over so onwards we go...

I'll be handing in my notice tomorrow, too. I want to pick up on the bits I was doing to raise little pockets of cash here and there, selling the odd thing on FB Marketplace... We'll see how it goes in April - 2 birthdays and 1 baby shower to pay for, too *sigh*

beanielou

Well done on the CC.
Sorry about your aunt.

annetheman

beanielou said:

Well done on the CC.
Sorry about your aunt.

Thank you  appreciate it!

annetheman

Status check
I've realised it's hard to keep myself motivated between payments and paychecks... What I am finding is that I get paid, make my overpayments, get excited seeing the numbers go down and turning my spreadsheet green, then I struggle through the rest of the month with little flex in my budget, trying only to keep above overdraft and keep my spend in the black.

It is as simple as that and it doesn't need to be any more complicated but it does get dreary. Usually, a pick-me-up would be a big purchase for the house... This is not within my budget, obviously!

I need to document the way things are going, my thinking, etc so I can curb any deviation from the plan before it starts and I want to be able to re-read this if I feel "what's the point" or try to justify not making an overpayments in the plan. 

I need to remind myself also how fortunate I actually am. I have a decent take home; I dreamt of this life and this pay just a few years ago. What makes it dreary and woe-is-me is that I actually had more disposable income when I was on half the salary, living in a rented flat in a village and didn't have any debts at the time. I feel like I should be living very comfortably, buying treats, going on holiday, eating out - and I can't because of the choices I made in between that time and 8 months ago.

So with that moan-fest over, I have to buy a baby bouquet and have nothing left until the end of the month.

Getting there... 1 month at a time...