Feeling a bit down about it all.

Highlanddream

So as I pay debts off I cut up the card, I have paid off two loans this month and have cut up 3 cards today. I looked at my spreadsheet and realised I STILL had 7 debts to go, one loan and 6 credit cards . Just feeling a bit deflated (was 30,000 now down to 16 000) .

RAS

You are doing really well. It's hard sometimes to see how far you've come when you look along the road.

Have you considered joining the debt diaries for a bit of extra support?

Highlanddream

No, I haven't , will have a look later.

I suppose when I counted it was still 7 it feels never ending. Such a slog to get this far only to realise I have the same slog again  

Highlanddream

Then I start doing stupid things like looking at consolidation loans just to have two things rather than 7. The 6 cards are on 0% so I know it would be stupid. 

gwynlas

Look you are almost at the half way point and know you have a struggle ahead but it is so worth it to be debt free!

Think off some thing you can do to reward yourself at the end

tacpot12

It sounds like you are doing really well! We all know that the most difficult thing is starting, but having made it so far, you should keep your spirits up. A consolidation loan would be a bad idea as six of your cards are 0% anyway. You will pay down the debt much more quickly if you aren't having to pay interest, plus a consolidation loan locks you into a repayment timetable. Without the loan you are much more in control and have much more flexibility. 

Well done! 

MattMattMattUK

Highlanddream said:

So as I pay debts off I cut up the card, I have paid off two loans this month and have cut up 3 cards today. I looked at my spreadsheet and realised I STILL had 7 debts to go, one loan and 6 credit cards . Just feeling a bit deflated (was 30,000 now down to 16 000) .

Highlanddream said:

No, I haven't , will have a look later.

I suppose when I counted it was still 7 it feels never ending. Such a slog to get this far only to realise I have the same slog again  

Highlanddream said:

Then I start doing stupid things like looking at consolidation loans just to have two things rather than 7. The 6 cards are on 0% so I know it would be stupid. 

Forget about the number of debts, focus on the amount, you have already cleared nearly half, that is an achievement to be proud of!

You will probably find that you clear the second half quicker than the first as it will have less interest overall and so more goes on repayment than interest. 

londoner2019

+1 to Matt - the number of different debts/cards is irrelevant. You're paying it off in the most efficient way. 30k to 16k? That's almost half way! Incredible achievement. That's the number to focus on. And each time you get to cut up a card, it's a nice feeling, a nice little win, but in reality you can celebrate each 1k milestone instead.

Great work so far - you got this.

MEM62

Highlanddream said:

was 30,000 now down to 16 000

Highlanddream said:

. Just feeling a bit deflated 

You have reduced your debt by almost 50%.  That something to pat yourself on the back for, not feel deflated about.  Keep going!  

RAS

Highlanddream said:

Then I start doing stupid things like looking at consolidation loans just to have two things rather than 7. The 6 cards are on 0% so I know it would be stupid. 

Bloomin heck. Just having the cards all on 0% is a major achievement!

Appreciate that the loan has a higher APR, but do you have one card with a low value? Or smallish one that reverts to a high interest rate? Killing one like that could be a big boost to your morale?

EDIT: Did you ever have that deflated feeling after achieving a goal? You know, got decent grades at 16, got that job you wanted, then the promotion. And each time you strive towards your goal, get there and think "Well what was that all about? Was it worth the effort?" 

Maybe look outside this money stuff and see if there is something else that would float your boat? Doesn't have to be expensive, just something that would take you away mentally from the debt busting.

kimwp

I agree with RAS, try to spend more of your time thinking about other, more fun things.