Hopefully debt free before Mortgage renewal in June 2026

Tezzadp

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VAP_Driver

That’s how I gave up smoking! I just repeatedly told myself ‘I cannot start again if I don’t put a cigarette in my mouth’ as a cross between a mantra and an emotional crutch.

Obviously, it’s good for the debt free journey as well (and many others).

Cara_

The daily payments are bringing your debt free date ever closer as I see on 21st March it was August 2027 and then a day later it was a July 2027. I hope you take a moment to recognise how well you are doing.

Tezzadp

No money spent today

Direct debits

Tesco CC Monthly payment £55.00. Total paid this month is £55.00. Outstanding balance is now £2108.00

Hastings loan monthly payment £89.02 with £23.10 of this being interest on the loan and £65.92 going towards the outstanding balance which is summarised below. 

Hastings loan daily payment : £1.86 (Total paid so far this month* £132.52 (including the £23.10 interest or £109.42 which actually comes off the outstanding balance) - leaving a final payment of £81.90 in July 2027 (28 monthly payments) = Balance outstanding now £2158.85 (nearly close to getting below the outstanding balance on the Tesco CC now)   

*This month refers to 28th Feb to 30th March (the day before pay day)

Tezzadp

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Tezzadp

LadyWithAPlan said:

Very impressed with your focus and dedication. ! You do have got this ! I am 100% sure you will be all paid off in time 
prolific do some great online surveys  which would help get that hasting debt gone 

Thank you. Im trying my best, i want all the debt gone asap so im sticking rigidly to it for as long as i can. I dont think i have the patience for surveys tbh, thanks for the suggestion tho. Also thanks for the comment and support 

Tezzadp

VAP_Driver said:

That’s how I gave up smoking! I just repeatedly told myself ‘I cannot start again if I don’t put a cigarette in my mouth’ as a cross between a mantra and an emotional crutch.

Obviously, it’s good for the debt free journey as well (and many others).

Excellent work VAP i've never smoked but i can imagine how hard it must be to quit a habit like smoking, so well done for stopping. It only takes a one moment to lose all the previous good work you have built up getting to where you are now. Totally not worth it. 

Tezzadp

Cara_ said:

The daily payments are bringing your debt free date ever closer as I see on 21st March it was August 2027 and then a day later it was a July 2027. I hope you take a moment to recognise how well you are doing.

Thank you. Yes the months i have left to pay are gradually creeping down now with my daily payments. I didn't think anyone would notice the August to July final payment date changing. This was a bigger jump in final payment figures than normal as Hastings actually show on their payments page the direct debit as being paid on the payment date on 22nd of the month, even if this day falls on the weekend before it is actually paid. But i only count this payment when it leaves my bank account. So i have to manually account for the daily payments and subtract them from the total owed on my spreadsheet to show the figure on here. Even though Hastings have already subtracted the monthly direct also. But im not sure how they calculate the daily payment and also the interest that saves on the overall interest. So i simply showed the final payment date and amount owed that Hastings had already calculated after the monthly direct debit figure is taken into account but before i had actually shown it on my accounts on here.
 
if that makes any sense at all..... i know what i mean anyway   

But yeh i think im doing alright so far. next month will be the real test, when increased council tax comes back into my bills to pay and also other bills rise but also minimum wage also increases too. I expect a lower end monthly payment than normal but im still hopeful of getting my debts paid with some time to spare before my mortgage is due for renewal next year. Im going to keep going and try my very best anyway. Thanks for the kind comments and words of encouragement and support

Sarahwithlove

I think the next few months are going to be hard for us all whilst we adjust to the new budgets. Increase in bills and cost of living but not so much our wages is making everything have to stretch that bit further. But hopefully you will still be able to make payments on your loan and reduce the interest you are paying further. 

Tezzadp

Sarahwithlove said:

I think the next few months are going to be hard for us all whilst we adjust to the new budgets. Increase in bills and cost of living but not so much our wages is making everything have to stretch that bit further. But hopefully you will still be able to make payments on your loan and reduce the interest you are paying further. 

yep i agree, budgets will be squeezed harder from next month but i will try to keep paying as much as i can every month.