It begins today..

18 Posts

I’ve been worried about my debt for a while but it’s recently gotten out of control and I’ve had some really low moments. I had another recent set back and it’s given me a massive wake up call that changes need to made and I have to do something about it.
I don’t want to go in to too much detail about how I’ve racked up the debt as I’m very embarrassed and ashamed but I’m hoping writing and updating this will keep me motivated and on the right path.
I don’t want to go in to too much detail about how I’ve racked up the debt as I’m very embarrassed and ashamed but I’m hoping writing and updating this will keep me motivated and on the right path.
It’s all credit card debt and my total today is £32,449.46.
Seeing that number is terrifying and I’m disgusted in myself.
Seeing that number is terrifying and I’m disgusted in myself.
Because this has all just become a big realisation I’m still in a really down place where I feel so disappointed in myself but I’m trying to see the positive that I’m facing it and want to make the right changes and move forward.
The minimum I’ll be paying each month is £400 but I’m going to try and make savings elsewhere to pay extra bits off aswell as selling old and unused clothes on Vinted.
The minimum I’ll be paying each month is £400 but I’m going to try and make savings elsewhere to pay extra bits off aswell as selling old and unused clothes on Vinted.
I’ve set myself a short term goal to have my debt under £31k by the end of June. I’m hoping setting these little stepping stones will help me.
Send all the positivity my way please and any hints and tips you have to pay things off or raise extra bits of money will be much appreciated.
Total Debt March 2023 £32,449.46
7
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Replies
First thing is to complete an SOA if you feel comfortable doing that. There maybe something on there that we can see that would help you. You also need to set up an emergency fund so that you do not add further to credit, pay minimums on debt until you get your EF together. Then get your bank statements for the last 3 months to check your spending. Use 3 months worth of figures to complete an accurate budget. Make sure you stick to it.
If you can side hustle to generate extra cash to use towards debt payments. Try survey sites, these can be a good source of additional money to pay towards debt.
Try to keep motivated and determined and I promise you will get there!
Good luck
Shell x
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I also feel more motivated than ever to get myself out of the situation I’ve put myself in.
Halifax 1 £12,029
Halifax 2 £3244
MBNA 1 £12,094
MBNA 2 £400
Tesco £4662
However you do it, I know you’ll do it well. Extra good luck.
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That will define it separately from the the other cards - in a sense it will stop being a credit card and will become a target to chip away at.
I've done this with 2 of my 5 cards and I definitely no longer think of these 2 accounts as credit facilities but as bill accounts that I need to get to zero as soon as I can ( after some other debts are sorted out first ).
Each to their own, and whatever works for you, but I agree that's the one to target right now if you've still got 12 months interest free on the 400 one.
|I agree that the guilt and disgust do you no good. Its identifying the behaviours, whatever they are, and fixing them. You do need to stay aware of them to keep on track but leave the beating yourself up behind.New life ahead - good luck
I look forward to seeing how you get on.
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