Paying off £37065 unsecured debt by July 2027 while continuing to travel this amazing world

Nintud

7 hours until payday!

£2 Vinted payment can go to Very.

washing machine is fixed and on its second load.

No limits will be reduced. 

Mission debt-destruction is back on, I’ve got to hunker down on it, it’s been way too slow so far.

Nintud

More Vinted payments have dropped, so I’ve sent £4.63 to Very.

its pay day 😁 so I’ve filled up my petrol tank and I have my big shop arriving from Mr. S. Santander cc has been paid, and a part payment to Nationwide CC.

Christmas tree (fake) has been ordered, as has one Christmas present for NEET son. Speaking of whom, he has an induction day tomorrow for a new job. Sounds dull as dishwater. It’s 12 hour shifts, 3 on, 3 off. As he’s pretty much nocturnal, it looks like he will do the 6pm-6am shifts. I’ll taxi him and phantom lodger in to work when I can, but I’m loathe to get up at 5am to collect them, so they may have to share the cost of an Uber.  Fingers crossed that this job lasts longer than a week. He blew through his first wage packet on delivery pizzas, hopefully he’s learned his lesson there.  I’ve bought both of them budget journals for Christmas!

Nintud

More disappointment for NEET son. His age is against him and the induction was cancelled after review of his age on his passport. The gap he has fallen through is preventing him from doing anything useful. Probably ten more weeks of joblessness ahead of him.

On a positive debt busting note, I’ve transferred a £75 Vinted payment and a small Mr S refund (whole gerkins substituted for sliced) to Very and updated my signature. Almost 50% paid off of Very in the two months I’ve been tackling the debt, and 2.5 x the minimum payments I would have paid if I hadn’t taken the bull by the horns. I may have it gone by the end of February.

MFWannabe

Well done on the Very smashing 🤛👏
What a shame about your son; honestly willing to work and can’t 😖 hopefully once the ten weeks are up he’ll get lots of opportunities 🤞

Nintud

He’s eager to earn his own money. Still applying for job but being knocked back daily, which is very disheartening.

I could do with an empty flat for a few hours per day. Phantom lodger has taken to sleeping on the sofa rather than the sofa bed in NEETs bedroom and I need to get into the living room to tidy up. It’s almost midday and he’s still sleeping. I’ll give him until 12.30, then I’m going in with the vacuum!

I’m on grandma duties from 2pm, so if I don’t get the room done soon, it’s unlikely to get done today. I’ve been ninja like collecting detritus, but the noisy stuff needs to start.

Nintud

Yikes! I’ve looked at all my debt totals and realised I must have missed something during my first count up. Despite paying down Very, my Nationwide overdraft, two payments off my big loans, and tiny amounts off my credit cards, my total debt (excluding my mortgage) is:

£38650.60

I’ve added this to my signature with today’s date and a zero start as this is the overall challenge I face. I have 31 months to pay that figure (plus the interest) if I’m to be debt free by the end of July 2027. 

That’s £1246.80 + interest per month.  Not impossible, but definitely tough.

lilian1977

I hate it when that happens @Nintud - I've been recording my loan repayments on a spreadsheet then rang the other day and the balance was different - however when I asked for the final payment date it was the same as I had recorded, so I assume they're just calculating the interest differently. 

Good luck - you can definitely do this!

MFWannabe

Did you ‘miss’ £1000 in your figures or have your debts increased since you started? 

Nintud

MFWannabe said:

Did you ‘miss’ £1000 in your figures or have your debts increased since you started? 

I added a computer for son (0%) but I think I missed Very and only added up loans, ccs and ODs.

It’s all there now, and I,v paid £360 off a loan today.

MFWannabe

Was that the contracted payment for the loan? Or extra on top of the contracted? 

If extra you need to stick to paying your highest interest debts first which is Very, extra payments on this will make more of a difference 
Maybe redo your soa with all the debts included?