My long overdue journey to becoming debt free!!

MissPennySave

Thank you, 2 more paydays and I should finally be in the £20k’s!!!

Nervous1234

Love your diary @MissPennySave, very inspirational. Well done 👏 

MissPennySave

Morning everyone, checking in with my monthly balance updates!!

CC1 0% Jun 24 - £14258.00/£12150.00
CC2 0% Nov 24 - £6456.02/£5250.00 
CC3 4.9% May 26 - £16888.98/£13490.00

Debt paid off so far £15736.96

Grand total = £46,626.96/£30,890.00

  MPS.x  

lucielle

Those figures are looking really good. What’s your DFD?
L

MissPennySave

Hopefully August/September next year! I need to push really hard this year and just get it done. 

MissPennySave

Good Morning!!  Happy Friday and happy first day of Spring, although I'm not sure the weather has got the memo!!!

Anyway, checking in with my monthly balances, and....drum roll please....I have finally dropped down into the £20k bracket!!!  Whoohoo!!!

CC1 0% Jun 24 - £14258.00/£11475.00
CC2 0% Nov 24 - £6456.02/£5170.00 
CC3 4.9% May 26 - £16888.98/£13330.00

Debt paid off so far £16,651.96

Grand total = £46,626.96/£29,975.00

  MPS.x   

~FlowerPot~

well done, must be such a good feeling to be in the 20s

fowers x

MissPennySave

It most definitely is!  Still a way to go but I am starting to see a glimmer of light at the end of the tunnel now!!x

MissPennySave

Morning Everyone!  So other than updating my monthly balances, it's been a while since I did a proper update on things!  So here we go, firstly, my salary has increased by £400 a month which is awesome and will definitely help speed things up!!  I was finding my monthly living budget was getting quite tight and past experience has taught me that however much you want to throw all your money at your debt to get it gone as quickly as possible, its so important to make sure you have an achievable budget to live on as well! So I wont be putting the full £400 towards my debt but more likely £250/300 and put the rest into my monthly living budget to make things a little easier. 

Secondly, I am finally able to move the CC balance of £13330 which has 4.9% interest onto 0%, I can move £10970 to 0% for 13months, with no transfer fee, and the remaining £2360 to 0% for 22 months with 1.99% fee, overall this should save me around £650 in interest.  My forecast tells me by the time the 13months is up, there will be approx. £1255 that I will need to move to another 0% deal. 

Thirdly, this then frees up a credit card to be able to move the approx. £4505 balance from my card where the 0% deal ends in June this year too, hopefully there will be a BT offer on the card at this time, or if not another deal I can get elsewhere.  Ultimately, I will go with the cheapest BT fee that I can get!  

I think that's all and I hope that all makes some kind of sense to you all!  MPS  x

Baileys_Babe

Looking positive 😊

What do you use your monthly living budget for?