Hopefully debt free before Mortgage renewal in June 2026

Tezzadp

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Tezzadp

Cara_ said:

Well done on transfering the Hastings Loan and getting all your debts onto a 0% credit card. It will be much easier to track now you have all your debt in one place. Your plan to pay off the credit card looks good.

Thank you. Yes, im pleased it is all now in one place and all interest free. It is a lot more manageable now it is in one place. But does look a bit more daunting now the figure is a lot bigger than it was when it was all separated. But i will keep making my payments and knocking the figure down and down until its gone

Cara_

But i will keep making my payments and knocking the figure down and down until its gone

You have shown that you are committed to paying off your debt so I believe you will achieve this in the timescale you have set yourself.

Recently, you commented that you found it difficult to have savings and I think it would be helpful if you can pinpoint the reason why. I'm not suggesting you write about it in your diary but that you acknowlegde the reason(s) so that you can address them and start saving towards your future.

Spendless

I concur with the above comment. It can be very easy to run up debt again once paid off. Ask me how I know. 🙈

As you like paying your debts, daily and weekly in addition to monthly maybe when the time is right look to what features diff savings accounts have. Eg I have an everyday savings account and the interest is paid monthly on the same date, even if thats a Saturday or Sunday.
I also have an ISA that pays interest monthly but each day you see the pending amount on the app and see it go up each day. Look for something that would appeal to you. 

Re it now looking more daunting now the debt is all in one place, look at how much you owe now compared to your starting point on your signature back in Jan, its not even 4 months from that date and youve already paid off an incredible amount. 

Tezzadp

Petrol for the car bought today £20.03

No direct debits today

Debt payments

Natwest CC Daily payment £2.13 Total daily payments made this month £24.90 (to this card & £18.73 to my old Hastings loan - Same debt). 

Total of all Natwest CC payments, including weekly payments (not inc £54.83 payments to previous cards/loans), made this month £47.90 leaving a balance of £4760.85

*This month refers to 31st March to 29th April (the day before pay day)

Tezzadp

..................

Tezzadp

Cara_ said:

But i will keep making my payments and knocking the figure down and down until its gone

You have shown that you are committed to paying off your debt so I believe you will achieve this in the timescale you have set yourself.

Recently, you commented that you found it difficult to have savings and I think it would be helpful if you can pinpoint the reason why. I'm not suggesting you write about it in your diary but that you acknowlegde the reason(s) so that you can address them and start saving towards your future.

yes i will for sure get this paid in time, in hoping a little sooner if i can. 

I know exactly my weakness when it comes to having any spare money. I have worked on this weakness since last August/September time and once i get close to becoming debt free i will address this issue on here and try and come up with a plan to help me to save and not get into debt once again. Im hopeful that i am able to save for things that i would like that would make my life a little better and for some little luxuries in life too, like a holiday would be nice. But that is wayyyy down the line yet. My main focus for now is to get out of this debt. Then i will try and save up the money that i owe a family member also, i probably wont be able to manage all of this before my mortgage renewal date but i will try and get as much as i can before then.

Then i think what i will do is to try and overpay my mortgage once i have my renewal as well as save a little and try and bring the date when it is all paid off forward as much as possible.  

Thanks for your helpful advice

Tezzadp

Spendless said:

I concur with the above comment. It can be very easy to run up debt again once paid off. Ask me how I know. 🙈

As you like paying your debts, daily and weekly in addition to monthly maybe when the time is right look to what features diff savings accounts have. Eg I have an everyday savings account and the interest is paid monthly on the same date, even if thats a Saturday or Sunday.
I also have an ISA that pays interest monthly but each day you see the pending amount on the app and see it go up each day. Look for something that would appeal to you. 

Re it now looking more daunting now the debt is all in one place, look at how much you owe now compared to your starting point on your signature back in Jan, its not even 4 months from that date and youve already paid off an incredible amount. 

Thanks. I will have to try and research different savings accounts nearer the time, so i can see what may suit my circumstances best. but my main focus at the moment is to get all my debts paid off. 

Yeah i suppose that is true. Over 26% of my debt paid off since i started posting on here. It just looks more now it is all in one figure as opposed to 3 smaller figures thats all. It is a lot easier to manage now tho and i have saved money on the interest payments now it is all 0% which means more money going to pay off the debt each month instead of interest, which means it will come down quicker.


Thanks for the helpful advice once again. I WILL get there slowly but surely 

Tezzadp

No money spent today
No direct debits today

Debt payments

Natwest CC Daily payment £2.14 Total daily payments made this month £27.04 (to this card & £18.73 to my old Hastings loan - Same debt). 

Total of all Natwest CC payments, including weekly payments (not inc £54.83 payments to previous cards/loans), made this month £50.04 leaving a balance of £4758.71

*This month refers to 31st March to 29th April (the day before pay day)

Tezzadp

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