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Finally credit card debt free
Sncjw
Posts: 3,619
Forumite
Been a while since we were credit card debt free but today I can say it.
We changed the way we do the finances. Now my husband pays the bills as its easier to transfer from his account to the joint then the remaining goes to mine so I can withdraw the cash budget for the month then the remaining funds went to the credit card. Doing it this way allowed us to see what we actually had left over and clear it by the deadline and we did not pay any interest ether. If we did it the old way we would be just spending on our cards because it was there. Now we have a set budget for things its easier to pay it off.
Now we are going to use the funds to pay off our cruise holiday and towards house things including mortgage.
If you feel like doing a budget is sharp shock and be difficult. Trust me it's worth it. Be realistic in your budget but dont go mad.
We had funds set aside for fuel , food, fun money, gifts, days out and eating out. The rest of the funds were in our banks for the money that's comes out of that.
We also had money set for savings and we manged to go on a break away whilst paying off the cards because we had money saved up for that and did it in a timely manner. Alsp anything left over from holiday fund went to the credit card.
Be realistic and just keep chipping away. You will get there
We changed the way we do the finances. Now my husband pays the bills as its easier to transfer from his account to the joint then the remaining goes to mine so I can withdraw the cash budget for the month then the remaining funds went to the credit card. Doing it this way allowed us to see what we actually had left over and clear it by the deadline and we did not pay any interest ether. If we did it the old way we would be just spending on our cards because it was there. Now we have a set budget for things its easier to pay it off.
Now we are going to use the funds to pay off our cruise holiday and towards house things including mortgage.
If you feel like doing a budget is sharp shock and be difficult. Trust me it's worth it. Be realistic in your budget but dont go mad.
We had funds set aside for fuel , food, fun money, gifts, days out and eating out. The rest of the funds were in our banks for the money that's comes out of that.
We also had money set for savings and we manged to go on a break away whilst paying off the cards because we had money saved up for that and did it in a timely manner. Alsp anything left over from holiday fund went to the credit card.
Be realistic and just keep chipping away. You will get there
Mortgage free wannabe
Actual mortgage stating amount £75,150
Starting balance £66,565.45
Current balance £53,769
Cc 1k at 0 percent
Actual mortgage stating amount £75,150
Starting balance £66,565.45
Current balance £53,769
Cc 1k at 0 percent
5
Comments
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Well done, that's amazing!0
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Very well done!0
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Congratulations!
Like you I have found setting up funds for things really helps keep control of the money.My Debt free diary
https://forums.moneysavingexpert.com/discussion/6492297/10-000-steps-1-step-at-a-time0
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