2024 WILL be better....

MusicLover31

MFWannabe said:

joedenise said:

It might be worth doing an SOA (Statement of Affairs) to enable others to see if there is anywhere with a bit of wiggle room.  Things like groceries, mobile phones, internet etc can often be cut back on depending on what you are spending now.

Also this, there’s some very wise people on here that can help and advise 

Thankyou... I'd put this on here more for accountability, I didn't expect so many kind and thoughtful replies!

Couldsavemore

Hi

Another single parent here but I've been doing it for over a decade.

I've also done the consolidation loans and then back onto credit card spending.

I'll be following along..

Are you consolidation on zero interest?

I've set my own parents for my cc, so always paying above  minimum so don't have to think about making that bit extra payment.

Good luck

MusicLover31

CMD79 said:

Oh, what a horrible year. So sorry for your loss. There's only one way 2024 can go for you now though. 

In terms of not learning anything from the last time, there's probably dozens of people on here who will read your new diary in the coming days and think, yeah, same - including myself! Someone kindly reminded me, that we're not on here because we're money geniuses, so maybe we need a couple of runs at it to really learn.

Good news is, the amounts you're talking about, are doable. You've put a plan in place to get it down. Can I ask you a Q about your plan though?

Zopa Credit Card 3866 (aiming for £150/month) -  Is this above the minimum payment?
Virgin Credit Card 3473 (aiming for £75/month) -  Is this above the minimum payment?
Argos Card 590 (most expensive, aiming for £100/month) - I'm guessing this is ridiculous interest? If the Zopa and Virgin are above your minimum payments, would you consider throwing everything you can at this one first?
Santander Card 464 (this could change as its a short term panic fund until I can get some put away)

I personally have found it really useful to use a snowball debt calculator. The one I use is really simple - you can google whatsthecost snowball and it'll come up or try this link (not sure if it'll allow me to post a link!) I have a monthly budget on an excel spreadsheet, and I copy and paste the table it give me below it on the page so I can keep reminding myself what I'm doing.

I also wonder, if you're not at full capacity with your business, maybe you could join in on some of the Extra Earnings challenges? I was making well over £20 a day consistently for months, with a full-time job. Some months I made £800-£1000.

Anyway, best wishes for 2024 - you'll find lots of support here.

Yes the two larger cards are both above the minimum payment, but not much! Once I get to March a couple of things are paid off, I'll be able to throw more at the two smaller ones and then transfer that monthly amount onto the bigger ones, is that what you mean by snowball? I had to delete your link as it wouldn't let me reply but I'll look it up in a minute.

I have it all on an excel spreadsheet, I'm not brilliant with excel but I've put all the minimum payments of "the plan" into it then I'll alter it each month so i can see if I'm on track... which will mean it will end in August 2025 

That feels positive in itself as I've never felt so motivated (and organised!)

This is usually a quiet time of year for my business, but it will pick up again soon and I'll hopefully have more to save/pay off.

MusicLover31

zedonk said:

Just popping in to say hello! I'm also a single parent and self-employed (although I'll be starting a salaried job in Feb) so we have some stuff in common. I love your plans to rebuild your life as a single person. I definitely need to find more fun stuff to do that doesn't cost (much) money.

Hi... I've joined a Facebook group called Thrive so I've been to one of their local meetups and will be going to some more, they're a lovely group of women organising all kinds of events... some free and low cost. I have an allotment so that's free (ish) and I have a part time membership of a local gym so that's getting me out of the house as well as fitter! Once the weather picks up I'll be out more with my dog but sometimes she looks outside at the rain and looks at me as if to say "are you kidding?"