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

LzzyIsGod

I'm really impressed with your Vinted sales - I've tried selling bits on there before but struggle to get much interest and then end up buying stuff instead! 

Nintud

MFWannabe said:

Nintud said

MFWannabe said:

Nintud said:

I have £146 to be paid out from Vinted. That will take the debt down to £295. I think I can pay that off by mid February.

i have a question for readers. I’m paying £360 on my car loan each month. Would it be worth overpaying that to finish it in July and release that monthly DD sooner to throw at the other debts? The last payment for the loan is in December. If I paid the loan off early I could then pay off my other loan by February 2026 with overpayments from the car loan and then pay off my credit cards with an extra £600 per month.  Would this be a daft strategy with the high OD and CC interest?

Great news on the Vinted sales 👏👏
Ref car loan; this is one of your lower interest debts so just leave this to run its course
Next after Very needs to be overdrafts; you could pay off the one in two months and then throw everything at the big overdraft 

I’m almost down to the interest free OD £50 for Nationwide. My salary goes into Santander and I transfer most of it over to Nationwide to pay my DD.
I have a Monzo account with no OD facility. I use that for Vinted, grocery shopping and most of my savings pots.

my credit score has increased by 1 point!

My lightbulb switched on at the very last minute. I would be looking at selling my car now if I hadn’t been hyper-focused on debt since October. I still feel like I’m looking over a precipice.

Thank goodness your lightbulb switched on 👍
Yes you have a long way to go but when you’ve started paying off one debt and then another you will start to see and feel the difference 
Try to break it down into smaller chunks so it doesn’t feel quite so overwhelming x 
Very is definitely your first chunk and will be gone soon 🤞 then you can throw everything at the next one 
Your car loan ending in 2025 will also free up a good amount to chuck at the other remaining debts 

I can’t wait to see the end of Very. This time next year I will be Very free, Nationwide cc free, car loan free and with much less on the Santander OD. I need to learn to be more patient.

Ive uploaded a few more items to Vinted and sorted out a few more boxes of bits to go on over the next few days.  No sales yet today, but lots of favouriting of different items.

one package to post from a sale last night.  £148.07 to Very when all payments are in.

How is everyone else doing?

amber03

I haven’t got any debt now to pay off but am trying to get an EF started, but every time I start something crops up and wipes it out. The latest being Xmas. So now I want to focus on that and hopefully get a decent amount in it. You are doing so well ,impressed with all your Very payments, once you manage to pay off this debt you will be on a roll.xx

Nintud

amber03 said:

I haven’t got any debt now to pay off but am trying to get an EF started, but every time I start something crops up and wipes it out. The latest being Xmas. So now I want to focus on that and hopefully get a decent amount in it. You are doing so well ,impressed with all your Very payments, once you manage to pay off this debt you will be on a roll.xx

Thank you for the support, it really helps.

The EF is there to prevent you using CCs. As you’ve stayed debt free, I’d say it’s worked mg for you.

Have you joined any of the DfE challenges? They work really well for building up an EF.  Vinted has helped me to pay down over £500 of Very in two months. It’s amazing what sells. Have a root around your home to see what you can list.

i challenge you to make £1000 in the next 6 months!

Nintud

£4.50 payout from Vinted and another £5 (two items) has gone into my pending pot, which now stands at £150.07. 

I’ve loaded four more items tonight. I need to pick up the pace to meet my target of 2025 items declutterred next year!

Nintud

Happy New Year 🥳 

it started well, a £10 sale on Vinted minutes after midnight 🥂

MFWannabe

What a great start to the year! 🤩
Hopefully you can get rid of Very soon 🤞👌

I need to do more listing today, sold an item yesterday too so looks like people are looking to spend their Christmas money 😁

Nintud

MFWannabe said:

What a great start to the year! 🤩
Hopefully you can get rid of Very soon 🤞👌

I need to do more listing today, sold an item yesterday too so looks like people are looking to spend their Christmas money 😁

Yes, it does seem like sales are picking up.
Well done on the sale!

Ive listed 6 items so far today.  I’ve also received £58 in payments and sent them straight across to Very. That debt is now in the 300s!!

im surrounded by boxes, either of items listed and packaged, or things I still need to list.

i think i can easily declutter 2025 items this year if I get on with listing.

MFWannabe

Wow that’s a huge amount! Can you imagine the amount of money if you say approx £5 per item 🤩

Nintud

MFWannabe said:

Wow that’s a huge amount! Can you imagine the amount of money if you say approx £5 per item 🤩

I wish!

Most of my items are on for £2-3, with a few at £5-10. It should certainly pay off Very, Nationwide CC and OD, and a bit of my Santander OD.

Only about 30% of what I list actually sells. Anything left when the weather improves will be taken to a carboot sale.