Dark Sunday Debt Free in 2024 31 December 2022 at 5:24PM in Debt free diaries 4 replies 462 views

Dark_Sunday

After many attempts, I’ve started a new diary for the final push to eventually be debt free in 12 to 24 months.

I’ll post some numbers in the next few days.

Dark_Sunday

So here we go, Credit Card debt is quite high, but so is savings. Will pay some savings to the only non 0% CC later this week. 

Credit Cards £27.6k of which £20k on 0%
Savings £21k

Net -£6.6k

Ideally, I’d like to keep savings quite high, especially ISAs at 4%+ Interest. So the plan is to reduce the 3.9% CC £7.6k ASAP, then clear the 0% CCs when the deals expire, by October 2024.

Dark_Sunday

Wee bit paid to CC, good to start reducing debt again after the crazy festive season

Dark_Sunday

Been a good start to the year. Savings now only circa £1k lower than the CC debt. All but 1 of the CCs are on 0% balance transfers. 

WinterWarrior

Good luck. I admire your nerve in holding the savings. I paid everything off and started again.