Seeing Sense.... at last

londoner2019

Maybe you could also add a line in your spreadsheet to track the total amount of debt paid off? So you have one balance coming down, but then you can see the repayments total go up and up - 10k in 10 months is seriously impressive!

Paydaypayback

londoner2019 said:

Maybe you could also add a line in your spreadsheet to track the total amount of debt paid off? So you have one balance coming down, but then you can see the repayments total go up and up - 10k in 10 months is seriously impressive!

Haha thanks for the suggestion, I actually already do this. I am a bit of a bit of a nightmare for excel documents. I now have everything broken down on a massive spreadsheet I took ages preparing. I have it broken down on a yearly and monthly basis too. Since my lightbulb moment in April I have at this moment paid approximately £9565. I even work it as a percentage of the original debt 13.53%

I'm probably over obsessed now idk.....

Baileys_Babe

I feel seeing the reduction as a percentage of the original debt would be very motivating.

Paydaypayback

Baileys_Babe said:

I feel seeing the reduction as a percentage of the original debt would be very motivating.

I have now updated my signature block to show percentage paid. I agree it is very motivating seeing the figures rise (and drop) in the correct directions. 

MissPennySave

Morning, I just found your thread so wanted to pop on to show my support, having had a ridiculously high amount of debt myself I remember how overwhelming it when you start the journey to clear it!  You've done brilliantly so far and I look forward to coming along for the ride on your journey to becoming debt free!!  MPS x

Paydaypayback

Morning All, Monday again,

So its been a quite couple of weeks and Ive just been chipping away at the payments and all done and balances have been updated. Fairly small reduction in balances again but at least its still headed in the right direction -

Total balance outstanding                   £60727

Small reduction of £336 over the last couple of weeks but the way i look at it is every pound paid back is a pound closer to debt freedom.

No plans other than work this week and a trip to visit family at the weekend. All should be small spends and is all budgeted.

Paydaypayback

Hi All,

So another busy month has passed and spring appears to have arrived. Nothing much to report this month except payment made to accounts and continue plodding on.

Total balance outstanding         £60240

Reduction of £517 over the last month which is much less than I would like but we have decided we need to have a life as well.

In other news I have been keeping a close eye on my pension pot and was getting very anxious. Over a 2 week period 15k was wiped off the value but it is slowly regaining ground. Its very important to me as I am aiming to retire as early as possible and these losses just set me back. All part of the 'game' I suppose.

Thanks all.

Sarahwithlove

Well done on the debt reductions. You are right though that it's all about balance. 

Paydaypayback

Morning All,

My mid month 'check in'. Nothing much to report except contine to chisle away at the balances. Weather has been lovely but unfortunately has turned today, fingers crossed the nice few days we had wasn't our summer!!! With this country it really wouldn't surprise me if it was. 

Total balance outstanding £60135

Only a small reduction of £105 over the last couple of weeks but it is still in the right direction and the way I look at it is every pound paid is a pound less I owe.

I did worry very much about the whole America situation and impact it is having. Not on my debt balances of course but my pension fund was in rapid decline. I was checking it almost hourly (not a good thing to do) and every time I logged on it had gone down more. Total loss of 22k at worst point but it has now recovered slightly. I am starting to wonder what the point in working is to be honest if things can change so fast. Considering jacking it all in and going to sit on a beach or bar in the sunshine somewhere, lol.

Anyway nice long weekend approaching so enjoy all. 

Paydaypayback

Morning All,

So my end of month check in, still plugging away at making all the payments. Balances still heading (slowly) in the right direction.

The weather is beautiful at the moment and I just hope it lasts. Fingers crossed for a lovely warm summer. 

I am very please I am out of the 60k window and balances are now in the 50k's.

Total balance outstanding £59789

Small reduction of £346 over the last couple of weeks. My private pension has almost recovered back to previous levels before Trump started messing with announcements which is great. All in all things looking more positive. I would love to get thr balances into the 40k's this year although not sure if I will achieve this.