Hopefully debt free before Mortgage renewal in June 2026

Tezzadp

Last day of the month means its payday for me. Unfortunately im only on minimum wage and work an average of 42 hours a week, and live alone, so my total take home pay is a salary of £1738.72 after tax per month, i can't do any overtime unfortunately, as there is none to do as i work all the hours my workplace is open. Hopefully i can get around £500 paid off towards my debts again out of this amount. My council tax is paid over 10 months and not 12 so i have Feb and march where i dont have any council tax payments to make which will come in handy with making my debt payments. It will be my first full month of figures for me to analyse properly, so it will be interesting to see how it pans out. 

Friday means a £40 standing order into my emergency savings account (balance now £364.50)

Debt payments

Virgin CC : £28  Weekly Friday payment (an additional £1 each week until its paid off) £1099.00 outstanding.

Hastings loan daily payment : £1.34  - leaving a final payment of £78.59 in January 2028 (36 monthly payments) = Balance outstanding now £2671.63

Total Debts now under £6,000 at £5988.63   

Also Dry January Completed  (which i intend to keep going until i am debt free - the money i save will be going to pay off my debts)

Tezzadp

No money spent today again

No direct debits today, but some direct debits are due on 1st of the month, but as its the weekend these will come out on Mon 3rd this month. 

Debt payments

Hastings loan daily payment : £1.35  - leaving a final payment of £76.72 in Jan 2028 (36 monthly payments) = Balance outstanding now £2670.28

Tezzadp

No money spent today again 

Debt payments

Hastings loan daily payment : £1.36  - leaving a final payment of £74.90 in Jan 2028 (36 monthly payments) = Balance outstanding now £2668.92

vampirotoothus

Wow, you really are going at this, well done. V x

Tezzadp

@vampirotoothus Thank you. Im trying my best  i want to get it all paid off as soon as possible. 

Tezzadp

No money spent today

Direct debits that came out today (scheduled for 1st of the month) :

Eon Electric £50
DVLA Car tax £16.67
Tv licence £15
Mortgage £517.72

Debt payments

Hastings loan daily payment : £1.37  (total for this month (31st Jan until today) so far £5.42) - leaving a final payment of £73.02 in Jan 2028 (36 monthly payments) = Balance outstanding now £2667.55

Food shopping day tomorrow, hopefully i can stay within my £30-40 budget or below. 

Cara_

Hello Tezzadp

You're doing really well with the daily payments and all the additional payments to debt and the emergency fund - they are adding up nicely. Well done on getting below £6,000

Cara

Tezzadp

Hi @Cara_

Thank you The daily payments although only small, all add up to a bigger, more meaningful amount over time (i've edited my last post to include my running total of my daily debt payments, so its easy to see how much they all add up over even a small period of time), but i feel they help to keep me focused and help me to keep returning here on a daily basis to update my progress and concentrate on my end goal of clearing my debts. I feel if i just saved all my money until the end of the month and did one bigger payment then i would just lose my way during the month and possibly spend the money i had saved for my debts before i had chance to make my payment. Or simply give up on paying it at all as i wouldnt be as focused as i am by returning everyday and making my daily payments. 

Yes im really chuffed to make it under the £6,000 figure, im hoping to get the majority of it paid off by the end of this calendar year and then i can concentrate on the £5,000 i owe a family member that i havent included in my total debt figure as its none urgent and i can pay it back as and when. but it eats away inside me so ideally id like to get it paid off asap, and id like that to be before my mortgage is due if possible. That is very unlikely though. As long as i get my £6,000 other debts paid i will be happy

Then after all that i would love to save up enough for a holiday abroad. Ive not had a holiday abroad as an adult, last time i went abroad i was about 12 or 13 and i went with school. So around 30 years ago. How sad am i?  But hopefully as a reward for getting myself out of debt and hopefully my life kind of back on track, i can save up and have a holiday. That's the plan anyway. 

Thank you for your kind words of encouragement and support x 

Tezzadp

Food shopping came in under budget tonight at £26.59 which im pleased with. I also had to get some petrol as i had ran out so that was another £30.01 spent. But no other money spent today. 

Debt payments

Hastings loan daily payment : well ive tried to log into my Hastings loan account to pay my daily amount but it seems the website isnt working. Ive been trying for the last hour or so. So tomorrow i will pay the £1.38 i was going to pay today and £1.39 for tomorrow.

Tezzadp

No money spent today
No direct debits today

Debt payments

Hastings loan daily payment : £1.38 + £1.39 = £2.77 (as i was unable to pay yesterdays payment as their website wasnt working)  (total for this month (31st Jan until today) so far £8.19) - leaving a final payment of £69.26 in Jan 2028 (36 monthly payments) = Balance outstanding now £2664.78