Head out of sand time! £63k to zero!
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Have you paid it yet? I definitely vote for clearing the card! To sell it to you: you pay £120 off it every month, that £120 a month goes into an emergency fund. You bank with nationwide, they have a single access isa at 1.4% - you can only withdraw once so would that keep your fingers off of it?
One less creditor!
Anyway, so hello! I think you can see your failings and temptations. I also think you can't see that you have got things majorly in your favour - you have the means to afford to service your debt. When you focus it comes down in chunks. Every pound you pay off saves you pounds in interest. You do so great when you're on it. Keep up the great work. Xxx
Thanks! Not yet, the cheque for the windfall money is at my house and I’m not until the weekend so have to pay it in and let it clear. Then will be paying off the card, hopefully by the end of the month though!Jan 2018 £68,274 May 1 2018 £59,537
Percentage of total debt paid 12.79%
2018 target £10k So far: £8737
Monthly target £833 January £1129 Feb £1278 Mar £1176 Apr £5152
POAYDBX18 #124 £8737/10,0000 -
Well, month end totals are in and we have hit sub 60K! Woohoo! Technically, I have not yet cleared the MBNA card, but will be doing it Monday, as the min payment goes out then, so once that’s gone, will top up the total balance before the interest hits!
So total cleared since the start of the year is nearly nine thousand pounds of debt we will never see again!
It’s been a busy month with lots of family birthdays and activities. It’s winding up to the summer now and will not really calm down now until October, but we will just keep on plugging away at this debt.
Plans for May are to try and reduce our food shop costs down a little as they are creeping up now it is warming up, and we want more salad and fresh produce. I also need to get back on the ebaying wagon as haven’t done much for a month or two and we have so much stuff!
Anyway, will keep on posting weekly, or more often if I get a chance.
Jan 2018 £68,274 May 1 2018 £59,537
Percentage of total debt paid 12.79%
2018 target £10k So far: £8737
Monthly target £833 January £1129 Feb £1278 Mar £1176 Apr £5152
POAYDBX18 #124 £8737/10,0000 -
Brilliant on getting below £60k! That's amazing.
Fresh produce is the killer of our food budget - ideally we'd be buying 175 portions of fruit and veg a week (5 a day for five of us). No chance!Trying to figure out a whole new life. Trying to figure out a whole new budget.
Divorcing, unclear on final debt total right now, but focusing on building a financial buffer zone.0 -
Treadingonplaymobil wrote: »Brilliant on getting below £60k! That's amazing.
Fresh produce is the killer of our food budget - ideally we'd be buying 175 portions of fruit and veg a week (5 a day for five of us). No chance!
Yup, it’s really tricky. I’d love to eat freshly prepared, gorgeous locally produced salads every day, but when you do your shop at Lidl you have to make tough choices. I do buy lots of whatever is the fruit of the week, or whatever, and do have to suck it up and have the same salad every day for a week to make it more cost effective to buy in bulk!Jan 2018 £68,274 May 1 2018 £59,537
Percentage of total debt paid 12.79%
2018 target £10k So far: £8737
Monthly target £833 January £1129 Feb £1278 Mar £1176 Apr £5152
POAYDBX18 #124 £8737/10,0000
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