My long overdue journey to becoming debt free!!

Naomim

Brilliant news on the loan. I'm still waiting on some 0% balance transfers but until I make a few more overpayments, I can't see them coming yet. For now it's just ticking along but at least in the right direction. 

MissPennySave

Morning everyone, I totally forgot to do my final June balance update, I was slightly out on my prediction of £39063, as I had some unexpected things I needed to pay for, but how nice to be able to do that and still reduce my overall debt!  So here goes:

Balances as at 14 Nov 22 vs 15 June 23
CC1 £1669.23/£0 - 100% paid off
CC2 £7980.00/£13908 (move loan to this CC on a 0% deal)
CC3 £4825.00/£4775.00
CC4 £16888.98/£14750.00
Loan £15263.75/£0 - cleared and moved to a 0% CC

New balances going forwards:

CC1 0% Jan 24 - £4825.00/£4775.00
CC2 0% Jun 24 - £14258.00/£13908.00
CC3 0% Nov 24 - £6456.02/£5993.00 
CC4 4.9% May 26 - £16888.98/£14750.00

Debt paid off so far £7500.96

Grand total = £46,626.96/£39,126.00

MPS.x

DebtFreeWannabe27

You've done brilliantly with your debt repayments. Congratulations on achieving over £7k repaid in 7 months. That's awesome work! I spotted your thread a few months ago and you inspired me to finally start one of my own to tackle my situation. I'm interested to get your view on what you've found hardest and what you've learnt/tips you would pass on. Keep up the hard work! 

MissPennySave

DebtFreeWannabe27 said:

You've done brilliantly with your debt repayments. Congratulations on achieving over £7k repaid in 7 months. That's awesome work! I spotted your thread a few months ago and you inspired me to finally start one of my own to tackle my situation. I'm interested to get your view on what you've found hardest and what you've learnt/tips you would pass on. Keep up the hard work! 

Ahhh thank you so much!!  Very happy that my journey has inspired you to tackle your own one! 

I think in the beginning the thing I found the hardest was spending, which may sound strange considering that's what I was good at and got myself in this predicament in the first place, but what I found hard about spending was the fear that I wouldn't be able to stop spending, I gave myself a realistic budget to stick to so I have money for fun things, but in the beginning I hardly spent anything, after a few months I got more confident that I could make good decisions and the right decisions on the things I needed/wanted,  and I am pleased to say that I have changed the way I think about the things I am buying and the reasons behind them.  The two things that really keep me on the right track is my trusty spreadsheet and I have a folder which I print out each months statements and file them in, at the front is a simple table of my debts and its a really good visual to see how I am doing.  It was actually my husband that suggested I do thins, so that he can also keep an eye on things, and having that accountability changes things dramatically!

Lots of luck to you on your journey!

MissPennySave

Morning everyone, just popping in to say hello, not much to report, patiently waiting to be able to do my mid month update.  But I'm still plodding along to plan and still feeling positive about it all.  Anyway, hope everyone is doing well, and I'll be back again in a few days with my monthly figures.  MPS  x

MissPennySave

Actually, I've just realised since rejigging things I can do my monthly update now after all, so here goes!

CC1 0% Jan 24 - £4825.00/£4295.00
CC2 0% Jun 24 - £14258.00/£13763.00
CC3 0% Nov 24 - £6456.02/£5813.00 
CC4 4.9% May 26 - £16888.98/£14600.00

Debt paid off so far £8155.96

Grand total = £46,626.96/£38,471.00

MPS.x

lucielle

All heading in the right direction!  

L

dd1981

Just wanted to comment and say massive well done for all you have achieved! I’ve come back after a looonnnngggg time away and a huuuggggeeee amount of debt to clear. Have been reading diaries whilst on holiday to motivate myself and yours is brilliant for what you’ve achieved ☺️

MissPennySave

Ahh thank you!! Good luck on your journey!!

MissPennySave

So, a quick update, and full disclosure.  I stupidly thought that I could now manage a credit card to do my monthly spending to "earn points" and then clear the credit card at the end of the month, I was wrong, I cannot, and I now have to shave some money off my debt payments for this month to clear it and shut it down, which means I now wont hit the under £30k by the end of the year, I am so disappointed in myself but also proud that I haven't let it get too out of hand and have nipped it in the bud now. Its amazing how the odd £10 here, £5 there can quickly add up!! Anyway lesson learned. Back to my frugal and sensible ways I go! MPS  x