£7,000 in 7 months (Feb 2025)

Mliz

Morning, I’m Mliz and I've been stalking the DFW forums for a very very long time 🫣. In that time I've paid off lots of debt, but due to my impulsive nature and love of instant gratification I’m back again.

My total debt:

Car Loan - £3,774 
Credit Card - £2,600
Holiday - £948

Total Debt - £7,322

I hope to pay off my holiday next month (took on extra work this month) and the credit card is my next one to tackle because the interest free period ends in May 2025. I do overpay my debts but I want it all gone.  Hoping this diary keeps me accountable and helps me make better choices. I’m setting myself a very healthy target to be debt free in 7 months.

Brie

Welcome and wishing you well on your debt journey.

Hope you've shredded all your credit cards and other easy ways to pay for things!!  Sometimes it's the only way!!!

Mliz

Thanks Brie - doing that now, hopefully it will give me pause before I buy on impulse

Philliggi

Similar journey, so ill keep tabs and wish you well. Im on 8 grand in 10 months and started in may. 46 week challenge. 39 weeks and im down to 5,300, so not doing badly. Finish in march. Then hoping to just be sat on the mortgage and nothing else. 

Are you using any special methods to get shut of the debt or just putting all your excess funds towards it? 

Mliz

Thanks Philliggi - you are doing brilliantly. No special methods - I worked out what I need and can afford each month and thankfully had a chance to do some overtime. I think if I stick to a very basic budget I should be able to do it but I’m my own worst enemy. Are you doing anything special?

Mliz

Wee update 9 July 

• NSD today

• Non spending victory (NSV)

1. Cancelled a magazine subscription that I’ve meant to do for months/years.
2. Got a text from Electoral office that I should be paid before the end of August (£300 minus tax for 1 day as a polling clerk).
3. My temp promotion will be extended another 6 months 🎉 (but that can change).

Philliggi

Im playing online games in my downtime at work. Also got a paid step counter app, and a data upload app. None add mega bucks but the total yield is probably £100 a month for next to no real effort. 

Ive also issued a borrow back on the mortgage which basically sees me taking back 2 grand at a much lower interest rate than im paying on the loan. And ive a 2 year locked savings maturing which brings another 800 at the end of this month. Ive never actually seen it so wont notice if i pay it off the loan straight away.

Mliz

Thanks Philliggi - £100 extra is great. I’m going to have to dust off the survey sites again. Prolific was good in the past but I suppose with summer holidays it will quieten down for a bit.  Will look into other apps as well especially as it will be super quiet in work the next few weeks.

Spends yesterday

• top up shop - £25.65 (I do a big monthly shop and 1 top up a week)

_Dolly_Rocker_

Welcome and best of luck!

Mliz

Morning,

Today is a bank holiday so plans are to clean and tidy house, go for a run and then take nephew out for a driving lesson.  Hopefully none of that involves spending.  I think I’m away this weekend (friends have rented a house at the beach and I could go either this weekend or next) - I have £100 in a sinking fund and probably €20 left over from last trip to the South (Ireland), which should be more than enough. 

Spends - £9.80 paint samples and £8.87 drinks and nibbles which I took to a friends last night.

Monthly budget left - £108

Mliz

Afternoon,

i was away the last 2 weekends but thankfully I didn’t go mad on the spending and had a great time. I had £100 in my holiday budget and I’ve £30 left. We spent a lot of time at the beach and the weather was a bit hit and miss but we had fun.

On the money front - my Prolific total is now at £15.38 and I just resold concert tickets I bought on ticketmaster and should hopefully get £90 back. We’ve just been invited to a wedding in Sept which is local - so I guess I know where that £90 refund is going.  It hasn’t all been good on the money front, a wee bit of frittering set in - £15 on Temu 😔 stuff that I really don’t need. I’ve decided to resurrect my cash envelopes and leave my cards at home  - cash worked for me before. I’ve also removed my cards from everything (I hope).

trying to stick to £30 per week on spends, which would be for top up groceries, papers etc. 

Spends  (19.7 to 26.7) £30/£19 spent
Other - planned spends - gift/for nieces 16th b’day