Time to banish the debt.

flamingo22

How are people managing their anxieties around their debts, I feel like im spiralling this week and catastrophising on everything, the debt, my job.  I do need a new job, I feel the responsibility is too much for little reward and I can't shut off from it all. My options will be better when this is paid off as I could comfortably afford to pay a cut.

Rhyddid2026

I fiddle with my figures so I can find numbers that make me feel better, remembering something I've cleared or that I've paid 10% of something off already.
Or I direct my attention to something different and free, like going through my seeds and thinking about free food I can grow next year.
Or I look at ridiculous money making options like renting out my spare room (it would have to be to someone who loves animals, mud, and doesn't mind not having a fully working kitchen). Or living off grid.
Sometimes reading diaries of other people in worse positions helps, and other times reading diaries of people who've succeeded helps.
And then other times I just ride the wave because I know this is a bit of an emotional rollercoaster and as long as I don't jump off I'll be ok again soon.
Different things work at different times, and sometimes they don't work at all but I feel a bit better the next day anyway.
Hopefully you'll find a few things that work for you.
But yeah, it's really tough at times.

Scott_Weiland79

flamingo22 said:

Just made an overpayment of £91.50 on my Abound (aiming for an extra £79 per month) so this figure now stands at £2426.71, the extra money has been made through Vinted and surveys.
In other news, little one is ill yet AGAIN, he needs a break poor little dude. 

More Xmas presents bought with the Amazon vouchers I've received doing switches etc.

Anyway off to bed, no surveys for me tonight as I've met my target 🙃 for this month. 

Dont know if you use it but try an app called curious cat its a good one for surveys 

BrimfulofSascha

Rhyddid2026 said:

I fiddle with my figures so I can find numbers that make me feel better, remembering something I've cleared or that I've paid 10% of something off already.
Or I direct my attention to something different and free, like going through my seeds and thinking about free food I can grow next year.
Or I look at ridiculous money making options like renting out my spare room (it would have to be to someone who loves animals, mud, and doesn't mind not having a fully working kitchen). Or living off grid.
Sometimes reading diaries of other people in worse positions helps, and other times reading diaries of people who've succeeded helps.
And then other times I just ride the wave because I know this is a bit of an emotional rollercoaster and as long as I don't jump off I'll be ok again soon.
Different things work at different times, and sometimes they don't work at all but I feel a bit better the next day anyway.
Hopefully you'll find a few things that work for you.
But yeah, it's really tough at times.

This is lovely advice, and I'm not sure I have anything to add to this. Other than keep posting and someone will be there with a virtual hug. You're not in this on your own.

flamingo22

Overpayment of £160 made to Abound and my monthly payment of £300 is due of tomorrow, balance is now £1996.62, and to think this loan was an original amount of £10000 three years ago, probably approximately £2000 of interest and I cannot even remember why I took this one out, probably to consolidate other ones, which I have since figured out, never works. Crazy money spent and this is only one loan 🥴. 

In other news, work is crazy, I have to do a presentation tomorrow (hate any kind of public speaking) but I do have a week off over Xmas, in January and again in feb, purposely picked time when the kids are in school so I can enjoy the breaks properly 🤣

flamingo22

Debt books are out in full force, was meant to be getting on with my cleaning 🤣
Need some advice from the savvy ones out there, I have a loan current balance £5855.19, I pay £130.12 per month, if I paid the loan off today (which I can't) it would cost me £3978.31. What I need advice with is, come Jan when I have extra money to through at this loan, shoukd I over pay the loan or keep the money separate and then when it comes to a lump sum, pay it all off together? I've asked on the app and it's telling me to overpay every month as the interest will come down, but I will be saving nearly £2000 if I manage to get a lump sum and pay it all off together. Does this make sense, hope someone more knowledgeable can help, thanks. 

Scott_Weiland79

It does make sense

Who is the loan with? 

If you dont have the money to clear the loan in one go in January but enough to pay a big chunk.

Pay that big chunk off it , dont save the January money and wait till you have enough to clear it in full.

It wont do bot all to your monthly repayments, but it will shorten the loan duration which will save you interest 

flamingo22

Thanks for replying, think I've worked it out, no thanks to the customer loan people 🙄
worked out that if I'm able to pay an extra £226 per month on top of my normal payment then it can be paid off at the end of next year, fingers crossed my working outs are correct. 

Scott_Weiland79

Do you have all the figures ie aprs, dates loan was took on, term, repay amount 

Feed it into chat gbt and check it on there.

ie i pay this, i am gunna repay this etc etc

My missus had a credit card and did that and i found a credit card repay calculator and it was spot on.

Or i dont know if there is a loan repayment early calculator online. Let me have a scout later.

flamingo22

Yeah I had chat gpt help too, that would be great if you could find it, I knew of a loan calculator a few years ago but I can't seem to find it now, thank you.