RemorsefulRoo's Debt Free Journey- 12 Month Accountability Diary and hopefully beyond

RemorsefulRoo

So here goes...  

I have been a silent watcher and lurker for a long time and I guess I have always had an issue with debt. Its something that I haven't ever really understood- not the literal debt part- but the why I do it part. I always have the best of intentions 'ill get this loan to pay that...' 'you only live once...' 'ill put that on the credit card and pay xxx extra next month.' and I never ever do! And it so frustrates me. 

At the ripe age of 33- you would think I would have some motivation, but seemingly I do not! UNTIL NOW!  I have definitely come to the realisation something has to give, something has to change and I am determined to change and determined to be in a position where I am able to have money left over, at the end of the month, to save, to be proud of me and to put towards my families future.

I have a huge amount of debt , and I want to keep myself accountable, sane and I guess meet others who can relate to the feelings, the journey and do it together. My debt free date is calculated at May 2028 with minimum payments , but December 2026 if I pay over this. 

In February 2027, one loan and one CC should be paid off, giving me an extra £1000 per month- meaning I can clear the majority of my debt by December 2026. But i just have to get there and live sensibly, frugally and commit for the next year. And that is what I intend to do.

I hope to pick up hints, tips, motivations and maybe some challenges along the way.

Thanks for having me!  

Blackcats

Hello and welcome.  This is a friendly, helpful and supportive place to help you on your debt free journey.
we've all had various amounts of debt and are all at different stages.

I know others will pop by to visit you with suggestions to get you started.
my best advice is to post regularly throughout your debt busting.  It really keeps you motivated and if you have a time when you don't feel like you are doing so well you will be encouraged not judged.

good luck!

RemorsefulRoo

Thanks you Blackcats. I really really want to do this now.

I am aiming for a NSD today.

Payday tomorrow, and I have figured out my budget for the next month and it is looking really tight which panics me, however, I am framing it as payment 1/12 on the 1st! Fingers crossed that I have done my calculations correctly 

Pinknails101

Don't panic about your budget, I think it takes months to nail, I still haven't mastered mine. You'll find over time where/what you need to tweak

LzzyIsGod

Just wanted to say welcome and wish you the best on your mission. 

dawnybabes

If you know the budget is tight is there a way to earn extra this month ? Surveys ? Vinted ? EBay ? 

RemorsefulRoo

Thanks all for your replies.

Annoyingly this month is no council tax month and I have a few things I don't pay this month so i wont get a realistic feel until next payday.

However, i have made a small payment to my CC on top of my direct debit to round it down to the nearest pound, and paid another loan payment.

That means 11 more payments!

FootyFanDan

Welcome, wishing you the best of luck on your journey