2026 - The year I sort my finances and declutter my life!

bigbeff

So, I am feeling a bit fed up at the moment - no real reason in particular, but somehow over the last year I have amounted a total of £8032.20 in debt. Various things have happened to contribute to this, but I think 2026 is my year to wipe this out. And I only live in a small house which feels a bit overwhelmed with stuff at the moment, so I am thinking I will not only wipe my debt, but I will also reorganise my "stuff"! And I am starting a couple of days early! 

So... as it stands I have:
overdraft of £1465.60
CC1 £5699.85 (0%)
CC2 866.75 (24.9%)

So... my plans - I start a new job on 1st January which is ideal really as January's wage will be higher  
1) I am going to open another current account and have that as my working budget account - I will work out what I need/want to spend each month and transfer that straight into new account so I don't overspend. 
2) I am going to spring clean my finances - work out what I am paying out for and what I don't need anymore. 
3) I sell a video courses which brings me variable income each month - I will put 40% in an account for tax and the rest will go straight on debt (probably starting with overdraft - but I need to find out interest rate there).
4) I have printed out a declutter challenge sheet (more just to keep me on track!) and I plan to spend 20 minutes a day sorting a different area - and I will either sell or donate items. 

I am writing this to keep me on task - I would love some moral support to get this done!

Happy New Year everybody  
 

in_need_of_direction

Moral support aplenty from me.  Have you considered getting some money from opening a new back account? Even from a cash back website if you don’t meet the account switch criteria?

also, have you an idea how much extra you will earn from your new job and where this will be spent.

bigbeff

in_need_of_direction said:

Moral support aplenty from me.  Have you considered getting some money from opening a new back account? Even from a cash back website if you don’t meet the account switch criteria?

also, have you an idea how much extra you will earn from your new job and where this will be spent.

That is a good thought - I will do some digging - I don't want to close my current one, but cashback might be a good idea. 

As for new job - I am not overly sure on what I will have differently - I am going from part-time to full-time, but I was also partly self employed so I can't be completely confident what the difference would be. It does mean I will get my evenings back, not have to worry about invoices, chasing payments or saving for tax payment though, so that is better! After a couple of months I will be able to have a good idea of any major difference in payment

Cara_

I'll keep you company. 

Good luck with the new job.

lastbigspender

Great minds and all that.

2026 will be the year I will take more control over my finances.

I have no loans or CC debt (as I cleared this last year via 0% BT)

I have a OD of £2,5k which I want to tackle this year but unsure how to go about this.

I have joined the 365 day & £5 Friday challenges which I want to gather for Christmas 2026.

I have am also going to start & invest £20 each month into a stocks ISA (Vanguard FTSE) for the future. 

Four_Seasons

Welcome will be cheering you on x

bigbeff

lastbigspender said:

Great minds and all that.

2026 will be the year I will take more control over my finances.

I have no loans or CC debt (as I cleared this last year via 0% BT)

I have a OD of £2,5k which I want to tackle this year but unsure how to go about this.

I have joined the 365 day & £5 Friday challenges which I want to gather for Christmas 2026.

I have am also going to start & invest £20 each month into a stocks ISA (Vanguard FTSE) for the future. 

I would (and I am no expert) open another current account and treat the one with overdraft like a credit card paying a regular payment. I think that is my plan for mine. 

I was just looking at challenges, I can’t decide which to do!

bigbeff

Yesterday was a good start to my organising. I found an old savings account that I hadn’t used and I transferred into my current account (I already have an emergency account). So, £294.51 off my overdraft already. Thought it would work harder for me there! And payday tomorrow, that will be where the fun really begins!

Yesterday, I cleared the bottom of our wardrobes and created 3 bags for a charity shop. Today I am going to start on bathroom cleaning old lotions and potions out working out what we have actually got and making it sparkle. I might even attempt the kitchen cabinets today. And I need to do a Lidl shop as cupboards look bare! But feeling a little chesty today, but hoping it doesn’t develop into anything as that might affect my to do list.

I have also logged into prolific again - it was quite good last time I did this, but no surveys this morning, I don’t know if it will be helpful this time round?

Hope you all have a lovely day.

in_need_of_direction

Well done on getting your debt into the 7s.

MissMoneyMishap

bigbeff said:

in_need_of_direction said:

Moral support aplenty from me.  Have you considered getting some money from opening a new back account? Even from a cash back website if you don’t meet the account switch criteria?

also, have you an idea how much extra you will earn from your new job and where this will be spent.

That is a good thought - I will do some digging - I don't want to close my current one, but cashback might be a good idea. 

As for new job - I am not overly sure on what I will have differently - I am going from part-time to full-time, but I was also partly self employed so I can't be completely confident what the difference would be. It does mean I will get my evenings back, not have to worry about invoices, chasing payments or saving for tax payment though, so that is better! After a couple of months I will be able to have a good idea of any major difference in payment

I can't post links yet, but google the salary calculator and you should find one with a £ logo in maroon! it's co.uk. I find it incredibly accurate to work out my take-home including pension and student loan deductions.

MissMoneyMishap

Just dropping in to say, good luck with the journey! You're not on your own - could have written this post myself! Maybe I will write one, who knows! 

I've been keeping prolific on in the background this morning and made £13.50 while I tackle my digital decluttering (I'm down to 400,000 unread emails now  )

I'm aiming to make extra income and curb spending to tackle around £13,000 of CC debt. It's an ongoing cycle with me unfortunately. 

Best wishes for a strong start!