Debt free by 50 (Dec 2023), 1 day at a time

bigbeff

How did the 10k go? I like the plan for no spending on non-essentials. I might join you in that plan until Christmas! We’ve got this!!

LittleMissDetermined

Glasgow is my favourite city and I'm heading back in December for a long weekend. It try to go at least once a year (when lockdowns allowed) and we usually go to a gig of some kind whilst we are there.  Well done for only spending £12, I spend loads when I'm there - this year I will have my sealed pot funds to use though so that's a bonus. 

Good luck in your essentials only journey. I definitely don't have that kind of will power!  Subscribed to cheer you along 
LMD x

Mliz

Hi LMD - I’m the same, nowhere beats Glasgow for me and it is good having family there. The price for a taxi from airport to city centre has really gone up. You are so lucky to have it to look forward to and the pots to cover the expense 😊

Hi BB - 10k was lovely - hillier and warmer than I thought it would be but I made it round. I saw Eilish McColgan at the start as I walked past the start to make it way way down towards the back  - she was probably finished when I started.

I was reading Allen Carrs book on the plane about getting out of debt and I need to cut up/freeze/hide my credit cards - so first action for no more junk spending is to stop using credit cards.

abaka

Good luck.

if you have a decent income and can afford to do. I would recommend setting targets for debt repayments.  After you’ve paid your essential bills, I mean.

For example. I put 700 into a joint household account to cover our household bills and then a further 200 to pay for childcare for my daughter.  After that.  Whatever’s left from my wages is mine.  

Now from what I’ve been doing since end of May when I started to tackle my debt is paying off minimum payment on all but one of my debts.  And one debt is prioritised to get as much paid as possible.  Now I’ve been extreme apart from 1 month I’ve been paying every disposable penny I’ve had left at the end of the month to my prioritised debt.

I’ve went from 24 grands worth of Credit Card debt on 29 May to just over 14 grand today.  (I did get an inheritance which wiped around 3500 from my debt) but the other 6000ish has been from setting a target of paying as much as possible!!! 

I’m not advocating doing the same, but perhaps give yourself an allowance of x amount and set yourself a target that I will pay x amount over the minimum budget in one particular debt this month!!!

I will continue to follow your diary and look forward to watching you achieve your goals 
 

cinnamon123

Sounds like a great weekend. Check out YouTube for videos of a no spend year and low spend years. Several vloggers have done them and they can be great for tips and inspiration.

Mliz

Hi Abaka - you have done brilliantly and thank you for the tips. I will have a look at my budget and see what I can throw at my debt and it will feel good to get 1 cleared especially the 1 with the higher interest.

thanks Cinnamon- will have a nosy at you tube. I know that I can get demotivated with how long the debt hangs over me so the you tubers should help.

Today I’m working in the morning and I’m going to see if I can get leave this afternoon. My Mum has a not very nice hospital thing tomorrow and my sister has booked us lunch out today as a pre-crappy procedure hurrah.  I have my social pot and I’m hoping it costs about £20.  

I’ve no other plans to spend. This morning I’m going to do some stretching and strengthening to help with dodgy knee and other aches - Im also trying to make this a morning routine but staying snuggled in bed usually wins out 😊.

hope everyone has a lovely day.

jusferbrowsing

Hi, Happy new diary.
I love running too (5-10k is my distance atm post long covid but hoping to extend that in 2023). Its a great low cost way of keeping fit. Do you run with your dog at all?

One of my favourite MSE things is my slow cooker as you can prep ingredients beforehand and batch freeze so you defrost and sling into your slow cooker then a hot wonderful smelling meal is ready when you walk through the door of a night. Youtube has loads of content to get inspired by. If you have a large slowcooker you can do it the other way round, cooking a large batch and freezing what's left over so you defrost overnight and microwave when you get in.

Building up an emergency fund as you go - even if its only a few pounds a month - is really useful too. Psychologically its great to feel you have prepped for any contingencies rather than reaching for the nearest CC. 

If you haven't already do a SOA. It helps to know what you need to allocate each month and where you can make easy savings. 

Get yourself organised (my downfall lol) and here's hoping we follow you to hitting your goal

Mliz

Thanks Jusferb - I do have a slow cooker and it is time to dig it out from the back of the cupboard. I think 5k or 10k is my happy place at a slow plod.. of course I apply for London every year because that would be a dream. I have my SOA sorted and I know where I can save money but it’s just doing it is the issue.

lunch was £25 today and that includes splitting mum’s share with my sister - quite pleased. I also sorted out online access to my loan. I can put £100 towards the debt in nov & Dec and then hopefully an extra £100 come the new year - I’m hoping that now I can see the progress on the app it should help me chisel away at it.

Mliz

Afternoon 

I finished my weekly spends with £5 and some pennies which I’m delighted with and I had 3 NSDs. Budget this week is £60 and I’ve already spent £42 in Lidl this morning and that leaves £18 for the week which is doable. I’ve not had any impulsive urges to spend and long may it last but I think it is this diary that is helping.

Today I’ve stewed windfall cooking apples and frozen them and some bread. I still have my bathroom to clean but the cleaning notion has run out the door 😊.

LittleMissDetermined

Well done on coming in under budget  I found the diary really worked for keeping me on the straight and narrow. Still is! 

LMD x