Single income, AuDHD, £31k debt, no savings

MFWannabe

Well done 👏 that’s great work 👍
Yes you’ve caught it now before it’s too late 

puffintail

MFWannabe said:

Well done 👏 that’s great work 👍
Yes you’ve caught it now before it’s too late 

I'm looking at 3 years and 7 months to debt free, all being well... that's if I pay just above minimums (assuming I maintain 0% on the CC debts) and don't add to the debt (thinking about the bloody car costs I've got coming up...). I suspect I may be more realistic to aim for 'under 4 years' to set my expectations. 

It'll be less time if I can get a better rate than 9.9% for the Zopa loan in the near future. A CC money transfer was suggested - I currently have an unused card (Virgin, £3600 limit, allows for a 0% until Nov 25 money transfer, with 4% fee) but, given the Zopa settlement quote is currently £19,068, I think I'll wait to do anything more, given my MBNA balance transfer CC application success today.

I'm going to try and sell little bits here and there, rather than put myself by thinking that £1/£2 is hardly worth the effort, which I've done historically.

I'm also on the lookout for a new job, so, if I get a better paying job within the next 4 years, I'll be able to put more money towards debt pay off, too.

puffintail

I just checked Severn Trent, and I'm on a water meter. £26.99 per month, £40.71 in credit...is there anything I can do to reduce that cost? I have energy efficient appliances, and only put the dishwasher on when it's full. I do, unfortunately, have a fair bit of washing to do for the dogs, but always do that on eco mode. I don't use a hosepipe but do have a bath once per week (I otherwise have very quick 'showers', where I stand in the bath, fill a large plastic measuring jug with water and wash & rinse using that).

MFWannabe

puffintail said:

MFWannabe said:

Well done 👏 that’s great work 👍
Yes you’ve caught it now before it’s too late 

I'm looking at 3 years and 7 months to debt free, all being well... that's if I pay just above minimums (assuming I maintain 0% on the CC debts) and don't add to the debt (thinking about the bloody car costs I've got coming up...). I suspect I may be more realistic to aim for 'under 4 years' to set my expectations. 

It'll be less time if I can get a better rate than 9.9% for the Zopa loan in the near future. A CC money transfer was suggested - I currently have an unused card (Virgin, £3600 limit, allows for a 0% until Nov 25 money transfer, with 4% fee) but, given the Zopa settlement quote is currently £19,068, I think I'll wait to do anything more, given my MBNA balance transfer CC application success today.

I'm going to try and sell little bits here and there, rather than put myself by thinking that £1/£2 is hardly worth the effort, which I've done historically.

I'm also on the lookout for a new job, so, if I get a better paying job within the next 4 years, I'll be able to put more money towards debt pay off, too.

Now you’ve sorted the two credit cards I’d start building up your emergency fund 
Once you’ve built up emergency fund then you can start overpaying your debts and possibly looking at what to do reference loan
Look at ways of making extra income, you’ve started listing things for sale, have you also looked at surveys?

MFWannabe

puffintail said:

I just checked Severn Trent, and I'm on a water meter. £26.99 per month, £40.71 in credit...is there anything I can do to reduce that cost? I have energy efficient appliances, and only put the dishwasher on when it's full. I do, unfortunately, have a fair bit of washing to do for the dogs, but always do that on eco mode. I don't use a hosepipe but do have a bath once per week (I otherwise have very quick 'showers', where I stand in the bath, fill a large plastic measuring jug with water and wash & rinse using that).

Do you have an actual shower? If not you could look at one of the tap attachments?
Theres a money saving board on this site with a lot of useful tips on saving money 

puffintail

MFWannabe said:

puffintail said:

I just checked Severn Trent, and I'm on a water meter. £26.99 per month, £40.71 in credit...is there anything I can do to reduce that cost? I have energy efficient appliances, and only put the dishwasher on when it's full. I do, unfortunately, have a fair bit of washing to do for the dogs, but always do that on eco mode. I don't use a hosepipe but do have a bath once per week (I otherwise have very quick 'showers', where I stand in the bath, fill a large plastic measuring jug with water and wash & rinse using that).

Do you have an actual shower? If not you could look at one of the tap attachments?
Theres a money saving board on this site with a lot of useful tips on saving money 

Thanks, I do have an electric shower, I'll do some digging around on the forums for other tips. I'll also look into surveys, as you suggested, to bring in some extra money.

MFWannabe

Your water is not high in my opinion so I don’t think you’ll be able to reduce that

puffintail

I listed another couple of things today, one pretty low value, but also my smart watch - whilst I wear it fairly regularly, the money will be far more helpful for me right now. Trying to raise as much as I can towards the car bill (cam belt and front discs and pads due to be done mid Feb)

RAS

Don't strip out all your tangible assets.

There is a selling sub-forum somewhere here.

sourcrates

Moved to debt free diaries as requested, thanks.