Small Steps Out Of Massive Debt!

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  • JoJoC wrote: »
    Wow - over a quarter of the way there! That's a motivation booster if ever I heard it.

    Nice to see you setting yourself goals to reach on a month by month basis, I bet that helps to keep on track :)

    Thank you! :) The monthly goals do help keep me on track and stop me panicking about the fact that I still owe 26K+ in unsecured debt :eek:
  • dionysia
    dionysia Posts: 81
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    I love your screenname! I used to live not far from Georgiana's party house in Chiswick, she had quite the life ;). Well done on clearing a quarter of your debt so far, really big achievement and very inspiring to read your diary!
    June 2017: owe £16,818.
    June 2018: owe £13,263.
  • dionysia wrote: »
    I love your screenname! I used to live not far from Georgiana's party house in Chiswick, she had quite the life ;). Well done on clearing a quarter of your debt so far, really big achievement and very inspiring to read your diary!

    Thank you so much! :) Georgiana certainly was a character, I think I'm on my way to renouncing my old GC-style spending :)
  • I got accepted for a Tesco balance transfer card (£1000 limit, 0% for 18 mths)

    Also provisionally accepted for a Lloyds balance transfer card (£3000 limit, 0% for 37 months) but this is pending taking my ID documents into a branch which I will do tomorrow.

    Not enough to shift my entire credit card debt to 0%, but if I could get 4K on 0% it would make such a difference!
  • I didn't manage to achieve my May and June goals, I underestimated how much of an impact the holiday would have on me (and the pre-holiday panic to get everything done at work). I'm rolling over a lot of the goals for July but I'll do another post with those later.

    May and June Goals

    Financial Goals

    1. Revisit Snowball Calculator to prioritise the MBNA debt. Done
    2. Clear first tranche of MBNA debt (£149.85, promo rate runs out in Sept) and get second tranche down to £300 (currently at £550.75, promo rate runs out in Oct). I cleared the first tranche and got the second tranche down to £400.
    3. Revisit budget. I'll be 6 months into my DFW journey by the end of June and I think I've picked up lots of tips from these forums, so I want to revisit my budget and see if I can make any more cuts/savings that can go towards debt repayment. Not done yet

    Other Goals

    4. Book appointment with tutor and make a realistic plan for next set of assignments/exams. Appointment booked!
    5. First draft of Assignment 1 and Assignment 2 submitted. Not done, rolling this one over for July
    6. Get those last few things listed on ebay / get repairs sorted. Done!
    7. Make a realistic meal plan (with view to making things easier, simpler, cheaper and healthier). I need to be realistic about this, I think my failing is that I over-complicate things at the planning stage and in reality I don't have the time or energy to put those plans into action. Sort of done, but holiday got in the way. I'll be recommitting to this in July
    8. Walk part of my commute every day and go for a long(er) walk every weekend. Hmm ...
    not really accomplished - another roll over for July!

    9. Swimming and yoga every week. Swimming should be easy to in once a week - I just need to pick a day and stick to it! ; yoga class is a bit harder because the timings don't quite work for me so I'm going to find a video I like and do a routine at home at least once a week. I've heard good things about Yoga with Adriene on YouTube, anyone followed that before? A lot of swimming was done during June (holiday helped!). I didn't quite get there with the yoga but I've signed up for a beginner yoga course at my gym and went to the first session yesterday. I need to pick a day & stick to it for swimming.
    10. A nice one - use all the cosmetics/bath products on my newly assembled storage shelves to treat myself to a Home Spa Session. Maybe not once a week but once a fortnight should be achievable :)Done!
  • JoJoC
    JoJoC Posts: 1,836 Forumite
    You have been one busy lady! Well done on getting the ball rolling with so many things :)
    CC1: £4481.14/ £5031.14 (12% paid off, £600) | CC2:£3307/ £3807 (14.4% paid off, £550) | Loan: £10,528.20/ £15,792.30((33% paid off, £5,264))

    July debt total: £24,630.44 | New debt total: £18,316.34 | Total debt paid: £6,414.10 (26%)
    *My debt busting and savings diary*
  • EssexHebridean
    EssexHebridean Posts: 21,175
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    Oh well done you on the 0%'s - that's brilliant! :T:T
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00
    Balance as at 31/12/23 = £112,000.00
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    she/her
  • JoJoC wrote: »
    You have been one busy lady! Well done on getting the ball rolling with so many things :)

    Thanks JoJo! I don't feel like I'm making as much progress as I would like but the lists really help me focus on what is important - easy to get distracted with the day to day stuff otherwise!
  • Oh well done you on the 0%'s - that's brilliant! :T:T

    Thank you! It will make a really big difference. Hopefully this is the start of shifting all that credit card debt over to 0% :)
  • JoJoC
    JoJoC Posts: 1,836 Forumite
    Thank you! It will make a really big difference. Hopefully this is the start of shifting all that credit card debt over to 0% :)

    That's the dream! :rotfl:
    CC1: £4481.14/ £5031.14 (12% paid off, £600) | CC2:£3307/ £3807 (14.4% paid off, £550) | Loan: £10,528.20/ £15,792.30((33% paid off, £5,264))

    July debt total: £24,630.44 | New debt total: £18,316.34 | Total debt paid: £6,414.10 (26%)
    *My debt busting and savings diary*
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