Small Business, Big Debts

Catscoffeecake

Doing great with the debt busting. Enjoy your holiday sounds like you've earned it

OldTimer2023

Update time again, and this year is absolutely flying by…

	LBM Oct-23	Jul-26	Repaid	Repaid %
Loan (MBNA)	£12,263.16	£0.00	£12,263.16	100%
Bank CC	£971.95	£0.00	£971.95	100%
CC1 (Bcard)	£0.00	£0.00	£0.00
CC2.1 (Halifax)	£7,375.50	£4,836.77	£2,538.73	34%
CC2.2 (Halifax)	£1,470.00	£0.00	£1,470.00	100%
CC3.1 (MBNA)	£12,388.88	£7,537.72	£4,851.16	39%
Bounceback Loan	£48,315.97	£28,758.26	£19,557.71	40%
TOTAL	£82,785.46	£41,132.75	£41,652.71	50%
Challenge Total	£34,469.49	£12,374.49	£22,095.00	64%
Emergency Fund	£1,000.00	£1,725.33	£725.33	+73%
Credit Score	582	630	+48	"Excellent"

So this month I FINALLY reached the 50% repaid mark on my Total Debts!!!

It is also feeling good to dip below £5k on my Halifax card (#1 Priority), and I will try to make some overpayments here before having to do what will be my last ever Balance Transfer next month :-)

Definitely feels like I'm on the final slope towards the finish line now, just ~6 months left to go - and my trusty old mobile phone is still holding up strong (if I stay close to a charger at all times), hence why that extra cash is sat in my Emergency Fund, waiting for the day when it finally packs in.

As predicted, the big bump in my Credit Score last month was because the reporting RE my latest Balance Transfer had not caught up yet, so it's back down to 630 again this month - which is absolutely fine.

Oh and my holiday last month was great! I had an amazing time AND stayed in budget too without having to be too tight about it. My mate probably didn't even realise I was keeping one eye on costs.

Okkk I think that's everything for this month. My focus for August will be making an overpayment to the Halifax card then getting that BT done before the end of the month. I was tempted to move it over to my MBNA card and then just have one final Credit Balance to focus all my energies on, in fact, I'll reflect on this over the coming weeks. No need to make a decision just yet.

Right, that's me done!

Take care all,
Old Timer