16 Months until I turn 40! Forever Home Required

TwirlingQueen

yes it is hard and I'm not vaping, using patches but its got to be done for my health too.

To be honest the debt is years old, the DMP was entered in 2018, it was about 25k in total and I have worked hard to get it down whilst running my own home so I know I can do it. I even did it whilst on stat maternity pay! That was hard lol.

I have also since had my daughter so my whole life changed, a lot was on holidays, keeping up with everyone else and going out when I was younger, I am not like that now and haven't for a long time.

I suppose now it's silly unnecessary things I spend on now like rubbish I don't need on amazon and clothes etc spoiling my daughter but its never on credit, I have 1 credit card that I put fuel on and clear it every month to help repair my credit file. 

Yes the holiday is new as we have a family wedding abroad next year, I know I'm in a fortunate position whilst at parents to really get the last of this paid off, a couple of defaults fall on jan/feb next year. Unfortunately Cabot didn't default me until 2020 thats the newest one. Haunts me I didn't discover these forums years ago!  Worse case I will clear them with my deposit money if I need to nearer the time but I would like to do it whilst at my parents from my wages.

peb

Ps I thought your food budget was low......

Though possibly you are buying food out from the entertainment budget 

TwirlingQueen

Hopefully after this month with my spending diary etc it will a lot more detailed and a I can allocate a lot more to the debts.

I have sent a few extra payments already this month so looking forward to the proper update  

[Deleted User]

Personally I would pay off all my debt with just under £9000 of your £70000 from your house sale. Within 8 months you could repay this to yourself. All the faffing about with creditors etc would also end. You could also then reset your budget effectively. 

outoftheviciouscircle

Good luck with your journey.

I have to say, I would personally leave your house deposit alone. Theres a certain satisfaction to paying your debts off by setting budgets and cutting back. It also gives you that little kick to remind you why you never want to be in that position again.
Savings are harder to build. Its easy to see that leftover money and think, I may as well treat myself rather than I'll pop that in my savings.

[Deleted User]

outoftheviciouscircle said:

Good luck with your journey.

I have to say, I would personally leave your house deposit alone. Theres a certain satisfaction to paying your debts off by setting budgets and cutting back. It also gives you that little kick to remind you why you never want to be in that position again.
Savings are harder to build. It’s easy to see that leftover money and think, I may as well treat myself rather than I'll pop that in my savings.

I disagree. You just need to have financial discipline. If that is lacking then the genuine ‘light bulb’ moment has not happened. I just don’t understand why someone would carry around debt when they don’t need to. If you are continually saying ‘I may as well treat myself’ the issues have not been properly addressed.

TwirlingQueen

Morning all, hope everyone is ok

updating a little earlier than planned as my wage went in 3 days early! 

New balances below

Cabot - 1000 - 650
CRS- 997.84 - 990
Pra Group 1 - 740 - 735
Pra Group 2 - 3210-3205
Pra Group 3 - 2880 - 2875
Holiday - 1186.00 - 700

Total - 10013.84 Now 9155
Reduction - 858.84

I've been concentrating on the Cabot & the Holiday, hoping I can clear the Cabot this next month. 

I have taken packed lunch to work every single day   had a couple of relapse's with smoking but I'm definitely heading in the right way just need that last little bit of will power! Still been out on weekends with my daughter to the farm etc but taking a pack up with us.

I have reduced my Netflix to a basic package. Tried to cancel my Glossybox but there's 2 months left until that will stop!
Cancelled Amazon music. Sold a few bits on Vinted.

Set a saving pot for spends for holiday next year £10 a week. All inc so may not need the full amount.

I had £80 cash left from the £100 a week I had given myself which I have put away towards some events I have coming up. I'm going to reduce weekly budget this I think.

Still tweaking my budget, writing everything down but I feel this was a successful first month, still a lot of room for improvements which I will keep working on as things are looking clearer.

Goals for this month 

• clear the cabot
• change direct debits dates (most are 1st but a couple later) my pay day is officially 25th but can come from 21st so id like to get those bills straight out rather than waiting
• completely stop smoking! 
• Vinted 

I had a settlement offer from CRS of 695.00.......Although tempted this will be marked as partially settled and wont drop off my credit report until September 2024, as I will be looking at a mortgage early next year will it matter much if its partially settled rather than full do you think....Its a saving but not sure if it will be worth it.

Think I've waffled long enough for now! Onto the next month hopefully with another good reduction, although I have a busy month I'm going to make my pennies work hard! 

TwirlingQueen

Hello all....Payday again! also arrived early again.

Updated balances are....

Cabot - 1000 - 650 - 200
CRS- 997.84 - 990 - 986
Pra Group 1 - 740 - 735 - 730
Pra Group 2 - 3210-3205 - 3200
Pra Group 3 - 2880 - 2875 - 2870
Holiday - 1186.00 - 700 - 550

Total - 10013.84 - 9155 - 8536
Reduction for July - £619.00

So wasn't as good as June, this was due to a few events and also having extra childcare fees, but still a good reduction I think. All my direct debits have been moved to come out 26th rather the 1st.

Subscriptions have been lowered or cancelled, 1 glossybox left and it was 3 month notice to cancel the £65 gym

Still doing well with the packed lunches, smoking not so well and still fully stopped but I am trying so hopefully next month I will have cracked it! Been rubbish at writing it all down but I'm going to concentrate more on that this month.

Couple of times fallen off the not buying unnecessary c**p nothing expensive but still they were wants not needs!

August - have a few things on like a wedding etc, and I have a dentist app which I know is going to be a massive ongoing bill for the work I'm gonna need doing so will have look at that when I get the quote. The Cabot will be gone this month and if I can get some good sales on Vinted Id like too get the holiday gone too. My little saving pots have are going well too so not a perfect 2nd month but I feel pleased and like I'm heading the right direction!  

TwirlingQueen

Really good news & early update....managed to clear the Cabot today so that's one gone forever!

1st June the balance was £1000, I'm so pleased

Now to target the next debt!

TwirlingQueen

Soooo I've not updated for a while, life just seems to go so fast! Terrible excuse really, so a little update.

Probably gone of the rails a little compared to the first couple of months. Must get back to being stricter.

Cabot - 1000 - 650 - 200 - ZERO
CRS- 997.84 - 990 - 986 - 970
Pra Group 1 - 740 - 735 - 730 - ZERO
Pra Group 2 - 3210-3205 - 3200 - 3180
Pra Group 3 - 2880 - 2875 - 2870 - 2850
Holiday - 1186.00 - 700 - 550 - ZERO

Total - 10013.84 - 9155 - 8536 - 7000

The last months have been super busy with unavoidable events & trips away, also a large childcare bill for August.
I have paid for a trip to DLP for January. so my reductions could of been so much better.  

I was offered a settlement figure of £650.00 previously on the CRS debt, I called today to pay it but they advised as they have now purchased the debt they cant offer any discounts, really disappointed about that! so on we go with paying these last 3