My long overdue journey to becoming debt free!!

LittleMissDetermined

Oh no! Definitely a lesson there, but it happens. Dust yourself down and climb back on the MSE wagon xx

MissPennySave

100% back on the MSE wagon!! I’ve been so rubbish keeping up with my diary lately but I am going to make sure I start checking back in weekly from now on!x

MissPennySave

Afternoon all, just checking in with my monthly balances :

CC1 0% Jan 24 - £4825.00/£3695.00
CC2 0% Jun 24 - £14258.00/£13618.00
CC3 0% Nov 24 - £6456.02/£5733.00 
CC4 4.9% May 26 - £16888.98/£14444.00

Debt paid off so far £9136.96

Grand total = £46,626.96/£37,490.00

MPS.x

LittleMissDetermined

You've paid off a lot so far, well done!  Keep up the momentum xx

MissPennySave

Morning all, just checking in with my monthly balances


CC1 0% Jan 24 - £4825.00/£2945.00
CC2 0% Jun 24 - £14258.00/£13473.00
CC3 0% Nov 24 - £6456.02/£5652.00 
CC4 4.9% May 26 - £16888.98/£14290.00

Debt paid off so far £10266.96

Grand total = £46,626.96/£36,360.00

MPS.x

Debsnewbudget

Well done, totals coming down nicely 

LittleMissDetermined

...And just like that, over £10k off your debts! Well done you!  22% shifted already

londoner2019

This is such a great achievement in a short space of time, well done!

A suggestion on the CC / points thing: you can try either reducing the balance to the same as your monthly budget, OR you can keep tabs on how much you spend on there by moving the equivalent amount out of your current account into an easy access savings account. The trick is to do it immediately after you have spent on the CC, so you always have it front of mind how much you have spent. 

Of course, might not work for you, in which case that’s ok! Do whatever you’re comfortable with - either way, you’ve cleared a grand a month of debt. At this rate it will be all gone in 3 years’ time! 

MissPennySave

londoner2019 said:

This is such a great achievement in a short space of time, well done!

A suggestion on the CC / points thing: you can try either reducing the balance to the same as your monthly budget, OR you can keep tabs on how much you spend on there by moving the equivalent amount out of your current account into an easy access savings account. The trick is to do it immediately after you have spent on the CC, so you always have it front of mind how much you have spent. 

Of course, might not work for you, in which case that’s ok! Do whatever you’re comfortable with - either way, you’ve cleared a grand a month of debt. At this rate it will be all gone in 3 years’ time! 

Thank you, I had tried just paying what I spent straight away, but I found I kept forgetting, or told myself I could pay it next week!  Perhaps I'll try setting a weekly reminder to go in and clear off that weeks spend and see if that works, I'd like to give it one more try at least, I've come so far and make such big changes to how I spend surely if I toughen up I can crack this and make it work for me as well!!!

MissPennySave

LittleMissDetermined said:

...And just like that, over £10k off your debts! Well done you!  22% shifted already

I know, I can't quite believe I've managed £10k already!!