Hopefully debt free before Mortgage renewal in June 2026

Tezzadp

Nearly my favourite time of the month. Lump sum payment day. Can't wait to bring the amount down a bit more at the end of this month again 

No money spent today
No direct debits today

Debt payments

Natwest CC Daily payment £3.40 Total daily payments made this month £85.15

Total of all Natwest CC payments, including weekly and monthly payments made this month £199.15 leaving a balance of £2558.16

*This month refers to 31st July to 28th August (the day before pay day)

Spendless

I must admit Im looking forward to your end of the month update to see where youre at. 

in_need_of_direction

me too - i'm also looking forward to the debt free day quote

Tezzadp

I've not done my usual weekly food shop today, i will do it another day this week. 

No money spent today
No direct debits today

Debt payments

Natwest CC Daily payment £3.41 Total daily payments made this month £88.56

Total of all Natwest CC payments, including weekly and monthly payments made this month £202.56 leaving a balance of £2554.75

*This month refers to 31st July to 28th August (the day before pay day)

Tezzadp

I spent £23.35 on my food shop today. i tried to not spend as much this week so i can pay off a bigger amount on my lump sum tomorrow.

No direct debits today

Debt payments

Natwest CC Daily payment £3.42 Total daily payments made this month £91.98

Total of all Natwest CC payments, including weekly and monthly payments made this month £205.98 leaving a balance of £2551.33

*This month refers to 31st July to 28th August (the day before pay day)

Tezzadp

No money spent today

Direct Debits

CSA monthly Payment £71.20

Debt payments

Natwest CC Daily payment £3.43 Total daily payments made this month £95.41

Total of all Natwest CC payments, including weekly and monthly payments made this month £209.41 leaving a balance of £2547.90

*This month refers to 31st July to 28th August (the day before pay day)

Tezzadp

Well it's THAT day again. The last day of my accounting month. Which means i can make a lump sum payment towards my debt with what i have left in my account that i have managed to save over the month. 

I started the month with £6.76 from last month and my salary at the start of the accounting month of £1753.51. This is my first month with my slightly lower salary since i changed roles within my company, so the monthly debt payments will be slightly lower than normal but i will still try and pay as much off as i possibly can each month. 

I now have £315.91 left in my account. So i have just made my lump sum payment of £310.00 towards my Natwest CC bringing the balance now down to £2237.90 

Debts summary :

Debt balances when i started posting on this forum on 6th Jan  

Hastings Loan  £2962.60
Virgin CC £1230.00
Tesco CC  £2273.00

Total £6465.60
...................................................................................................................................................

Debt balances at the start of this month (July)

All debts moved (in April) to Natwest 12 month 0% CC £2757.31

Total £2757.31

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

A summary of payments this month :  

Total daily payments = £95.41
Total Weekly payments = £114.00
Lump sum payment = £310.00
Monthly DDs = £0 (2 direct debits fell into last months accounting month and zero in this month) 

Total payments  = £519.41

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

My end of month total outstanding debt is now £2237.90

   Reduced by £4227.70 since 3rd January   

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

Savings/Emergency account payments this month :
 
Previous balance £598.02
This months payments +£160.00
Payment to get my car lights fixed -£20.00

End balance  £738.02

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

Summary : 


As you can see im now down to the lower part of the two thousands and i hope next month this figure will start with a 1 and not a 2. I have now managed to pay off over 65% of my debt with is very almost two thirds of my overall debt i started with in January. My aim for this month was to get under the £2300 figure which i have managed to achieve which is good to see. 

The average payment needed to pay off the debt in the next 7 months, which is the end of the 12 month CC interest free period given by Natwest, has now come down to £319.70. But my aim is to have this all paid off by Xmas day this year, all being well. 

This month although i have had less salary than i have had previously i have still managed to pay over £500 and 29% of my salary towards paying my debts. 

Looking ahead .....

September is a 5 friday accounting month for me so there will be more weekly payments and an additional payment into my savings account, which will mean less towards the monthly lump sum at the end of the month. Also the daily payments are increasing in value also which will also affect the final lump sum payment. But i will try my best as always to pay as much as i possibly can at the end of the month. 

Also i have my car MOT towards the second half of the month so any payments i need towards that will hopefully be covered by my savings that i have built up specifically for that purpose. Hopefully there wont be anything major wrong with it and it wont cost me a fortune, but we will see later in the month. 

My aim for next month ..... 

My first aim for next month is to get the debt starting with a 1 and not a 2. But i would also like to get it down to below £1800 if i can. 

Overall im happy with my progress and i can start to see the light at the end of the tunnel getting closer and closer every month and the next 4 months it will start to feel like it is getting here quicker and quicker than ever. 

Thank you all for your comments, advice, support and encouragement over the past month     

..... On To September 

Tezzadp

I have gone back and calculated my "no spend days" so far, just for a bit of interest. 

No Spend days : 

Jan 21 days out of 25 (4 food (inc petrol) shop days)
Feb 24 days out of 28 (4 Food shops)
March 25 days out of 31 (4 food shops + 1 Bday + 1 Vets)
April 22 days out of 30 (4 food + 2 petrol (only) + 1 Bday + 1 car fix days)       
May 25 days out of 30 (5 food shops)
June 24 days out of 31 (5 food shops + 1 Bday + 1 Treat)               
July 27 days out of 31 (4 food shops)
August 24 days out of 29 (4 food shops + 1 Car Fix)

Total No Spend Days = 192 out of 235 days   

Cara_

Another one waiting for your end of month upate and again you've done really well with reducing the debt and increasing your savings. I have no doubt you will meet September's target of getting your debt below £1,800.

The no spend day total is impressive.

Good luck for the MOT as it can be a worry but you do have some savings if any issues are found which will be a great help and won't stop your debt reduction progress.

Ordinary_Yet_Unique

Very good progress being made! Well done you!