My debt free diary.. 15 years later

lolly2481

As the title suggests, I've been here before. I managed to find my original diary from 2008 as I could remember my user name but couldn't recover my account 😔  

https://forums.moneysavingexpert.com/discussion/799711/my-debt-free-diary/p1

So I've managed to go back around in circles and end up back where I started with approximately £6k of debt but, thankfully, a higher income now. I've decided next year is the year I get myself back on track and start reducing my debt and controlling my budget. 

(If anyone happens to click that link and read a bit of my backstory that boyfriend of which I speak is now my Husband of 12 years 😆) 

So, Hi 👋  I will update a bit more about my debts, budget and action plan over the next few days. 

L x

lolly2481

One of the things I want to work on, while also reducing my debt is the 7 'Baby Steps' of financial health. Particularly steps 1 and 2. 

Here is a link to the idea of the 7 'Baby Steps'

https://www.ramseysolutions.com/dave-ramsey-7-baby-steps

So, I'm working on building a £1000 emergency fund and trying to save a bit for Christmas next year. My husband ended up footing the bill for everything this year 😔 

I'm going to find out what I owe on everything and the APRs and work out the best way to snowball this debt. 

L x

Little_bit_taller

Am sure you will smash it Lolly! Best of luck to you. Love the Dave Ramsey stuff too but always loyal to Martin hee hee!

lolly2481

Little_bit_taller said:

Am sure you will smash it Lolly! Best of luck to you. Love the Dave Ramsey stuff too but always loyal to Martin hee hee!

Thank you. 😊  Hope you have had a lovely Christmas x

zedonk

I'm in a similar position, have ended up back in debt due to a combination of circumstances (some my own fault, some not!) Good luck with your debt-free journey.

Less_Talk_and_More_Action

Good luck Lolly.  Sounds like you have a plan. 

L x 

lolly2481

I never did update on my debts and budget... 

However, I did start using a Budget Book I bought 2 years ago and never used. Some success, don't seem to be able to make it balance at the end of the month as in, what I have left doesn't match what I 'should' have but I'm working on it.

I started the year with £7449.54 of debt across an over draft and 2 cards. As of today I now have £6899.16 across 3 cards and my overdraft, so a reduction of: £550.38. The 3rd card that's appeared is a 0% for 24 months balance transfer card which I have transferred the majority of my Santander credit card has transferred to. I'm paying minimum on the 0% card for now and more off of the Santander to get rid of that faster. 

Pleased with progress so far.