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    • Debtnomoreplease
    • By Debtnomoreplease 1st Jan 18, 7:40 PM
    • 96Posts
    • 215Thanks
    Debtnomoreplease
    2018 I WILL be debt free!
    • #1
    • 1st Jan 18, 7:40 PM
    2018 I WILL be debt free! 1st Jan 18 at 7:40 PM
    Hi, I'm new to this site so please bare with me. I've been reading stories online for months about how people have got out of debt and I've found the truly inspirational to say the least! It's certainly kept me going through my bad days. Sadly, I only found this site a month or so ago, so can't share my whole getting debt free experience (a lot paid off now) but I want to log my 2018 get free mission!
    So basically towards my late 20's I had abit of a light bulb moment-I thought I'd rally up my credit cards, overdrafts, loans etc and my gosh it was one heck of a shock!!! And I'm sad to say, I've nothing to show for all that money wasted-about 11,000 in fact!! But a fabulous few holidays I had! Now, I have paid down that debt-as much as it nearly killed me, but I've still got a bit to go.
    Here goes:
    CC1-600 left to pay.
    CC2-900 left to pay.
    Parent loan-265
    Overdraft limit is 2,500- which im desperately trying to get rid of so currently in at 1000, as my wage doesn't cover my overdraft ( I know, I know-how silly!!) However, for 5+ years I've always gone right upto my overdraft limit (sometimes over) so the fact I've stamped it down over the past couple of months is amazing-but that was due to a wake up from the bank when they shot up there daily overdraft fee to being charged daily-ugh! Anyway, gave me the kick i needed!!
    So including my full overdraft (2,500) I'm at about 4,265. I'm absolutely want this gone 100% this year, with an emergency fund saved. Anyway, after reading through some amazing diaries on here, I've decided to keep track of my own spending-for some reason something I've never done. So here is day 1-Not spent anything today-weather been awful so not left the house! I will continue to log money spent, debts paid down etc and will look forward to reading more diaries over the next few days.
    Luckily for me the CC (at the moment) are 0% so I've got to get on this 100% over the next few months.
    My plan: to clear CC2-I've been paying 500 a month off, so Jan-500, Feb-400 then clear!!! That will free up 500 a month!!
    Next, get as much money in account as possible to pay overdraft off, as this is the only thing I'm being charged for (about 60 a month at the moment) which I can cope with for two more months, as I just desperately need to see CC2 clear-it's been my toughest one of all and I can finally see the finish line!
    Once 2500 clear and no overdraft (or very small one) I will tackle CC1- I always pay 50 or slightly more a month off, the minimum is usually 14 (or around that) so I pay more than double off. If I continue to do this for 4 months, that will pay another 200, making CC1-400. Then in May I can pay that all off in one (I'm used to paying 700 out of my wage every month on debt, so this will be nothing!) I have spent the past two years paying this debt down, and my gosh it's been hard-the silly chocies made years ago, and I'm still paying them off-if only I could speak to my younger self-never ever again!! The amount I've had to miss out on over the past years is sad, but I know it's all my own fault and I've learnt that hard way and I know I absolutely 100% will never get in this mess again! I'm really hoping by May/June I will totally debt free.
    My biggest issue at the moment is desperately trying to keep as much money in my account as possible. (Which is why keeping a diary is a good idea-I think.) Wish me luck
    By Christmas 2018, I would also like a healthy emergency fund off 1,500-2,000 with a seperate Christmas fund.
    I've also decided to start a Christmas fund this year, 30-40 a month, as for years I've paid Christmas on the CC (but not 2017, I did save and not a loan or credit card was used-1st time in years, so I was rather proud!)
    As I've probably rambled too much, I'll stop now and check in with my daily spends time tomorrow.
Page 4
    • Debtnomoreplease
    • By Debtnomoreplease 29th Jan 18, 6:43 PM
    • 96 Posts
    • 215 Thanks
    Debtnomoreplease
    29.1.18. Two days until pay day! I seriously can't wait for when I'm debt free and my wage is my wage!
    Anyway, nothing much to report today. Going to pay 500 off overdraft this month as advised on here. Minimums on CC as they are 0% and put some away for savings, as I have nothing and desperately need some savings. I have a seperate savers account to will add money to this. Hoping to put 200 in this month to start it off.
    Dreaming of my debt free day!
    • enthusiasticsaver
    • By enthusiasticsaver 18th Feb 18, 12:37 AM
    • 6,422 Posts
    • 13,233 Thanks
    enthusiasticsaver
    Would you like me to merge this with your new diary?
    Debt free and mortgage free and early retiree. Living the dream

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