Kezzy's debt journey 2024

kezzygirl

Another month, another payday. Last month we were really down to the bone and had to use the mbna credit card to buy a few bits of shopping and xmas presents that were on offer,along with amazon black Friday deals for stuff we regularly use. We have paid it off: £610-ouch, which I figured is money we would have spent anyway as the prices were just too cheap to resist. 

Onto the debt. Hubs got a barclaycard with 0% balance transfer for a year. I didn't think we would clear natwest before March, so I transferred £2500 to barclaycard, which left a balance of £467, which we paid yesterday. We can now focus on paying thr natwest due Sept 25-current balance £7580. I'm going to try to pay the amount needed to clear it by August, which works out as £842 a month. Not sure this is achievable? Our mortgage is due for renewal in Feb and the second mortgage may. I anticipate our mortgage will go up, giving less income for the debts.
We have now finished Xmas shopping other than about £120 in cash, which we will come from next months pay. We will both be paid 20th Dec, which will be a long month until 25th Jan! Tho Dec pay is just over 3 weeks away we have allocated the same money for food and fuel this month, which will hopefully give a little leftover. I have had a butcher deliver their Xmas hamper consisting of rolled turkey breast, sausages,chipolatas,goose fat,bacon,gammon sausage meat all for £40, so I just need to get the veg. 

Debt round up:
Husband barclaycard £2500 0% til Nov 25
My barclaycard £7840 0% til may 26
Natwest £7580 0%until Sept 25
Very £568 0% bnpl- will be paid before due may/July and Nov 25. 

Debt payments this month: £1348(!!!!)
I was paid 2 days overtime and worked 2 Sundays so this combined with my increment going up gave me £3782 take home. Hubby got a £150 bonus too. So he was paid £1858. I've allocated for all of our bills and expenses and we have £400 remaining, which I'm really going to try and keep hold of this month. I've taken a break from virgin games and my limit for the lottery is 10 a week, so this will defo help me not squander it!! I need to get out of the habit of having a blow out on food when paid, as later in the month I find the food budget has gone. Hopefully with the next payday being three weeks away this won't happen. 

Hope you're all well and getting ready for Xmas, I'm now going to walk my doggies and do some study, work for the next three days so trying to relax today.

kezzygirl

Round up for the year (a payday premature, but I was in the mood for number crunching.)

Debt as at Jan 2024 £26540(!)

Debt as at 1st Dec 2024 £18458!!

A massive total of £8082 paid towards Debt this year. That is such a lot of money, which should've been in our savings or paying towards the mortgage, gutting to think it's money already spent as we robbed our future selves. Next year we are going to continue to smash it down and hopefully by this time next year be in the lower thousands owed. Budget still needs tweaking and the remortgage is going to bring with it increased costs, the sum of which us yet to be confirmed. 

As for christmas, we have purchased all of the gifts and just have some cash to give a few relatives. Xmas Dinner is purchased,barring veg, so we are all set for the big day! Hope you're all managing to get your gifts at reasonable prices and keeping costs down

kezzygirl

Good evening, just an update from me as I haven't posted since december! 
Had a lovely, if quiet, christmas. Relatively good start to the new year. We have had ongoing dramas with a leak in the waste of our shower, which we reported to the insurance in October. Finally,after many investigations,drying out the area etc the insurance settled this month. So, the shower is being rebuilt as we speak, and we had a little money leftover to replace the thermostat for our heating. 

Bills are soaring through the roof, but I've made some cuts this month. Sky was up for renewal, they wanted £41 a month for broadband(!), so I declined and was put through to someone who offered £25 a month, which is a little pricier than I wanted to pay, but the connection is really good with no lagging when streaming. I've cancelled sky TV. Will need to look into netflix deals as this was free with sky. How expensive is it just to watch TV?! I cancelled TV licence last Yr as we don't watch live TV. 

On to the debts! Last year we owed a LOT...just over 26k. I am pleased to say, that we now owe the following:

Natwest 0% til Sept 25 £7180
Barclaycard 0% til May 26 £7600
Hubby Barclaycard 0% til Sept 25 £2292
 That's IT! £17,072 total, so we have paid over 9k in 13 months  

I have money aside for yearly expenses and also some savings for our holidays. We've been paying monthly for one in June via tui and one in September to cumbria, a lodge with a hot tub and the bonus is its dog friendly! We will be going away for christmas, and the amount is due in October, so we've been squirrelling away for that too. 

Feeling much better finance wise than this time last year, much more in control with the sinking funds and budgeting. Haven't used a credit card, but I admit we do still need to work on the food budget as come payday week the budget has gone. 

Work in progress!

Cara_

That's great progress - well done.

Lonelygambler

Keep up the good work. 

Fabulous50

That is amazing, well done. Your debt will be gone before you know it ! 

Sarahwithlove

It's boring but I have found shopping from cupboards helps. I plan 7 meals i can have for the week then choose what I want on each day and based on what goes out of date first. It's really helped me keep in my food budget. 

Lonelygambler

Hey any update here? 

kezzygirl

Hi all  
Haven't been up to much, other than work. They are stopping overtime unfortunately which means if I do extra shifts it will be via the staff bank which during the week pays £3 an hour less than my hourly salaried rate, plus is taxed at 40% off the bat. Not great! Also, my tax code has changed drastically to account for repaying child benefit from last tax Yr of just over 2k. This tax year I don't meet the threshold for the high income child benefit charge which is good news but irks me as last year the threshold was 10k less yet I've earned the same this Yr. Hey ho. 

Money wise things are OK. Mortgage has gone up to £1280 a month and the second mortgage which was additional borrowing to buy our current house is due for renewal end of May, and we are looking at paying just over £1300 a month in total. Seems to be all paying out at the moment but we are working hard to earn. I'm on annual leave this week but have picked up 2 overtime shifts as the overtime ban comes into force in May. I have a third overtime shift end of this month and although I'm tired, I'm forcing myself to work it as it really bumps my pay and I won't be working bank as I refuse to be paid £11.36 an hour after tax. 

Il update the debt situation on Friday.
Bad news is I've joined another gambling site and spent £40 in the last 2 days and won nothing. I'm going to cancel my membership now. 

Off to bed as work tomorrow, ttfn 

kezzygirl

Ahh, another debt round up. 

Hubby barclaycard 0% until September 2025 £1746 owed

My barclaycard 0% until May 26 £7524 owed.

My natwest 0% until September 25 £7100 owed.

I got a 0% for 21 months lloyds card and put flights on(which will be paid off monthly) £1200 owed

Total £17,570

Hubby's shares are due to mature again 1st May and we are expecting about £2000 from that, so will clear the lowest barclaycard and some of the natwest in preparation to balance transfer natwest to another deal. Feel like the end is in sight now with the debts. It's so difficult juggling life with paying back money weve already spent! We are saving for our holidays alongside paying debt off as throwing everything at the debt was making us miserable! 

I have closed my account on lottoland and have restrictions on national lottery for £10 spend a week. Ideally I'd like to knock that on the head too but I enjoy a little flutter.

Hope you're all doing well x