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Let's get this sorted then!
Comments
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New signature day! Whoop whoop!!
I wasn't sure how much it would have come down, but it's looking good!
The money is a bit all over the place because I had to transfer funds around to meet criteria for the Barclays switch, but I think I've figured out what needs to go back where.
I also think I now have £500 emergency fund again (although I do urgently need a dentist appointment so I might need some of that).
Under 18k on credit cards, so I am confident I can just have two from July 2026. I have fixed payments of around £300 a month so there should be 3k off that by then. My goal was to get it down to 15k by next summer.
I've started overpaying my loan, only by £15 but it all helps. I'm tempted to start throwing any extra money at the loan rather than the credit cards, as that saves me money in the long run, but the amount on my CCs still makes me nervous so we will see.
Anyway!! Look how close I am to being under £30k in debt!!
ETA I've worked out that I've reduced the debt by £5,405 - that makes me very happy!Debts 04/01/25 01/10/25
Natwest2 £6,509.97 £5,830
NatWest CC £7,612.74 £6,830
Lloyds CC £6,112.60 £4,940
1st Direct CC £176.03 £0
CC total £20,411.34 £17,600
TSB OD £500 £0
1st Direct OD £600 £250
Car loan £4,000 £4,000
1st Direct Loan £10,684.44 £8,710
Total £36,195.78 £30,3108 -
Well done on how far you have come. Great debt reduction!If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them
Emergency fund 3501000
Buffer fund 0/100
Debt Free (again) 25/0720252 -
Absolutely brilliant stuff. I know you are having some challenges that are giving you some doubts but you are doing so well.2
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Oh very very well done!! Superb progress!!! You are smashing it 🥳
Have a little faith, baby, have a little faith". Oddball - Kelly's Heroes2 -
That's a great result, well done!"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
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I used some of my daily spends/treat money to pay an extra £5 off my loan. 9005 was really bugging me, so now it's a nice round 9000. It was originally over 12k (with interest front loaded) for a 9500 new roof so it's nice to see that I've technically cleared the predicted interest and I'm definitely paying for the roof now, and I've paid over 25% of it off.
Debts 04/01/25 01/10/25
Natwest2 £6,509.97 £5,830
NatWest CC £7,612.74 £6,830
Lloyds CC £6,112.60 £4,940
1st Direct CC £176.03 £0
CC total £20,411.34 £17,600
TSB OD £500 £0
1st Direct OD £600 £250
Car loan £4,000 £4,000
1st Direct Loan £10,684.44 £8,710
Total £36,195.78 £30,3104 -
Excellent result...pay another £5 so you can be in the 8s
If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them
Emergency fund 3501000
Buffer fund 0/100
Debt Free (again) 25/0720252 -
I like this idea!doingitanyway said:Excellent result...pay another £5 so you can be in the 8s"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 -
I want to round down that weird ll credit card figure first! 😄
In other news, the 175 switch money has just landed in my account. I don't think I really believed I would get it until I saw it.
Thanks Burklays, it's a small act of compensation for you screwing me over on my career development loan in 2006 which was a major factor in me having to leave uni and having to go on a debt management plan!
😆Debts 04/01/25 01/10/25
Natwest2 £6,509.97 £5,830
NatWest CC £7,612.74 £6,830
Lloyds CC £6,112.60 £4,940
1st Direct CC £176.03 £0
CC total £20,411.34 £17,600
TSB OD £500 £0
1st Direct OD £600 £250
Car loan £4,000 £4,000
1st Direct Loan £10,684.44 £8,710
Total £36,195.78 £30,3103 -
£3.12 paid off the Ll credit card so that's a nice rounded number of £4,940 now too.
I seem to have done that thing again where all my money is in different accounts and pots and it's all out of sync (because of the switch and changing direct debits and stuff), so I'd really like to get that all where it should be by the weekend. I'm aiming for a bit of organisation from this temporary chaos.
Debts 04/01/25 01/10/25
Natwest2 £6,509.97 £5,830
NatWest CC £7,612.74 £6,830
Lloyds CC £6,112.60 £4,940
1st Direct CC £176.03 £0
CC total £20,411.34 £17,600
TSB OD £500 £0
1st Direct OD £600 £250
Car loan £4,000 £4,000
1st Direct Loan £10,684.44 £8,710
Total £36,195.78 £30,3104
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