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Biting the bullet
47 replies 2.3K views
Like many others have been a lurker here for a while. A great place for support! Want to finally clear what has been hanging over me for some time. I feel like I'm finally beginning on the right track, but need to see it through. A few diaries have made me understand how I got into a mess - mainly living the life I want rather than the one I can afford, frittering on little things and paying for friends on credit then not paying off when they pay me back. This all mounted up to huge debt of around £50k. I wasn't on top of payments, defaulted one account. I inherited some money a few years ago and was able to pay off a chunk of the £50k, bringing it down to around £15k but it crept up again over the last few years. Whilst being on top of payments (mainly minimums) I was spending it again and the balance wasn't going down. End of the month, I was resorting to credit. I need to trim things down a lot. It'll be helpful to not feel the need to go on holiday this year! Yesterday was a bit of a milestone. I made the final payment on my student loan and cleared my lowest balance CC. Now onto the next. I have worked out a plan and will be debt free at end of 2021 if I can stick to it!