We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Let's get this sorted then!
Comments
-
Oooo I woke up with finance related dread for the first time in a long time. It's the weekend, when I usually check all the finances and put them into my debt repayment document. December hit me hard!
I'll do it all this evening, family visits first, but in the meantime I will remind myself that as well as the milestones mentioned a few days ago I have
-An emergency fund (took a battering this month but still something in it)
-A high interest regular savings account for the EF
-Shares (cost me £1, but it all counts as part of this journey)
-Practiced managing money better, saving money, and planning for my future.
Debts 04/01/25 02/01/26
Natwest2 £6,509.97 £5,500
NatWest CC £7,612.74 £6,605
Lloyds CC £6,112.60 £4,450
1st Direct CC £176.03 £39.26
CC total £20,411.34 £16,594.26
TSB OD £500 £0
1st Direct OD £600 £0
Car loan £4,000 £4,000
1st Direct Loan £10,684.44 £7.880
Total £36,195.78 £28,474.26
EF £701.52
HF £3.044 -
Aannd for Christmas my mum gave me money to buy my first premium bonds! That'll make me feel better about the December finances, another positive to add to the list
Debts 04/01/25 02/01/26
Natwest2 £6,509.97 £5,500
NatWest CC £7,612.74 £6,605
Lloyds CC £6,112.60 £4,450
1st Direct CC £176.03 £39.26
CC total £20,411.34 £16,594.26
TSB OD £500 £0
1st Direct OD £600 £0
Car loan £4,000 £4,000
1st Direct Loan £10,684.44 £7.880
Total £36,195.78 £28,474.26
EF £701.52
HF £3.045 -
Final tally of the year (not the full year comparison and signature change as that's the start of January).
I wanted to get my debts down to 29,500 by Christmas. I managed that at the start of the month but then some food and fuel went on to the 1stD credit card that is for that purpose and cleared every payday.
As of today they are £29,451.01 !!
I did it!!
£6744.77 paid off my debts this year.Debts 04/01/25 02/01/26
Natwest2 £6,509.97 £5,500
NatWest CC £7,612.74 £6,605
Lloyds CC £6,112.60 £4,450
1st Direct CC £176.03 £39.26
CC total £20,411.34 £16,594.26
TSB OD £500 £0
1st Direct OD £600 £0
Car loan £4,000 £4,000
1st Direct Loan £10,684.44 £7.880
Total £36,195.78 £28,474.26
EF £701.52
HF £3.048 -
Amazing work, well done.2
-
Thanks!
I promise I'm not just repeating my wins over and over to get everyone to congratulate me. I'm trying to keep myself motivated through the last weeks of the year and the disappointment of the December expense.Debts 04/01/25 02/01/26
Natwest2 £6,509.97 £5,500
NatWest CC £7,612.74 £6,605
Lloyds CC £6,112.60 £4,450
1st Direct CC £176.03 £39.26
CC total £20,411.34 £16,594.26
TSB OD £500 £0
1st Direct OD £600 £0
Car loan £4,000 £4,000
1st Direct Loan £10,684.44 £7.880
Total £36,195.78 £28,474.26
EF £701.52
HF £3.042 -
The debt payoff is a long slog, if celebrating those small wins keeps you motivated then that is something to keep repeating. The diary is meant to be something to keep you accountable, but also a place to come and revisit when that motivation drops a bit.4
-
That's an amazing result, well done! It's good to remind yourself on how far you've come. Seeing it in black and white is a real motivator."Good financial planning is about not spending money on things that add no value to your life in order to have more money for the things that do". Eoin McGee1
-
Not only have you paid off a lot, you have met your target and your debt figure now starts with a 2. Well doneMortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 11st 12lb determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 100% through my pb challenge. I’m not perfect but I’m good enough for now.2
-
I am more than happy to congratulate you. You have paid off a large sum, looked after yourself, your home and your animals, emptied someone else's storage container and worked two jobs all whilst having to manage a health issue.
A big well done from me and all the best for 2026.4 -
Well done on reaching your goal!*Dad loan - £5300 - £7000
*Virgin Credit Card - £3552.50 - £0
*Natwest - £1828.35 -£0.00
Barclaycard - £2315.25 - £0.00
Creation Finance - £960.32 £0
*Total debt - £7000/£11641.17*
Savings
*Sinking Fund - £800/£2500
*Emergency Fund - £1000/£1000
New diary- https://forums.moneysavingexpert.com/discussion/6474943/the-three-cs-coffee-clothes-credit-cards/3
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.3K Banking & Borrowing
- 254K Reduce Debt & Boost Income
- 454.9K Spending & Discounts
- 246.3K Work, Benefits & Business
- 602.5K Mortgages, Homes & Bills
- 177.9K Life & Family
- 260.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards