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  • FIRST POST
    • UK_Ozzy
    • By UK_Ozzy 16th Jan 18, 10:23 AM
    • 29Posts
    • 35Thanks
    UK_Ozzy
    My diary to being debt free
    • #1
    • 16th Jan 18, 10:23 AM
    My diary to being debt free 16th Jan 18 at 10:23 AM
    I've always had debt since I was 19 but very low and manageable. Unfortunately that's no longer the case in 2017 my debt's rose by 8k and now stand at 13k
    These last few months have been particularly challenging making the repayments and keeping food on the table for partner and two kids.

    So I've decided action is needed.
    My debts
    Car finance 6200
    Work loan 100
    Cc 1 3000
    Cc2 800
    Cc3 2500
    Phone loan 400
    Total 13,000

    A scary total that's now affecting my sleep and stressing me out. So by starting this diary I hope it will help motivate myself and pay off my debts with 4 year.
Page 2
    • UK_Ozzy
    • By UK_Ozzy 19th Jan 18, 1:29 PM
    • 29 Posts
    • 35 Thanks
    UK_Ozzy
    So all the months bills have now gone out so time to tally up.
    Car finance 6200 - 6170
    Work loan 100 - 42
    Cc1 3000 - 2950
    Cc2 800 - 790
    Cc3 2500 - 2370
    Phone loan 400 - 354
    So debt was 13000 at start of year now stands at 12,676
    Basically just my minimum payments so not much extra paid off this month but happy it's going in right direction.
    • enthusiasticsaver
    • By enthusiasticsaver 19th Jan 18, 1:41 PM
    • 6,701 Posts
    • 14,245 Thanks
    enthusiasticsaver
    Going in the right direction so well done. It will take you a few months to get into the routine of budgeting but a good start.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • UK_Ozzy
    • By UK_Ozzy 19th Jan 18, 5:11 PM
    • 29 Posts
    • 35 Thanks
    UK_Ozzy
    Thanks enthusiastic saver not really a lot to spare in January budget wise so tight budget and kept to it. key will be feb and march have a lot of extra money coming so that'll be vital I don't waste it and pay debts down.
    • UK_Ozzy
    • By UK_Ozzy 25th Jan 18, 10:43 AM
    • 29 Posts
    • 35 Thanks
    UK_Ozzy
    So all quiet on the debt repayment front months bills all payed and now just waiting on the rent to go out on the 1st of feb and payday on the 2nd. That's when I can finally start really attacking the debt.
    • UK_Ozzy
    • By UK_Ozzy 1st Feb 18, 1:57 PM
    • 29 Posts
    • 35 Thanks
    UK_Ozzy
    So 1st of the month rents gone out and car tax. This as left me 25 into my over draft but that was to be expected due to weekend away which was a Christmas gift.
    On a positive note have sold 6 garden planters so extra 35 just got to wait on collection. And my work loan will be payed off fully tomorrow.
    • laurag89
    • By laurag89 1st Feb 18, 2:11 PM
    • 712 Posts
    • 1,321 Thanks
    laurag89
    Hello

    Just wanted to wish you luck on your debt free journey! Great start so far!!

    Brilliant news about the garden planters!
    Total debt to pay: 14,071.41/ Remaining debt: 13,792.36: Amount Paid: 279.05

    Survey xmas 2018 savings: 10 / 150
    • UK_Ozzy
    • By UK_Ozzy 6th Feb 18, 10:20 AM
    • 29 Posts
    • 35 Thanks
    UK_Ozzy
    So a quick tally up see how I'm getting on.
    Car finance 6200 - 6170
    Work loan 100 - 0
    Cc1 3000 - 2900
    Cc2 800 - 780
    Cc3 2500 - 2320
    Phone loan 400 - 330
    Total 3000 - 2500
    Glad the work loans payed off the extra 70 a month will come in handy. Hope to get the phone payed off this month with extra money from second job and any spare.
    • UK_Ozzy
    • By UK_Ozzy 6th Feb 18, 10:25 AM
    • 29 Posts
    • 35 Thanks
    UK_Ozzy
    Oops just noticed my total if only actual totals 13000 starting now stands at 12500.
    • UK_Ozzy
    • By UK_Ozzy 9th Feb 18, 9:00 PM
    • 29 Posts
    • 35 Thanks
    UK_Ozzy
    So tomorrow is going to be my first full day at my weekend second job this year. I've done it previous 2 seasons but I'm feeling quite anxious about it and not looking forward to it.
    There as been certain changes from the previous years so really not sure how tomorrow and upcoming weekends will be. Wish me luck.
    • UK_Ozzy
    • By UK_Ozzy 13th Feb 18, 4:14 PM
    • 29 Posts
    • 35 Thanks
    UK_Ozzy
    Good afternoon
    So the weekend job went ok completed 2 8 hour shifts. Didn't particularly enjoy it and not looking forward to future weekends but got to look at bigger picture. It won't be easy but worth it in the long run. Roll on march when these wages start coming in.
    • ramblehan
    • By ramblehan 14th Feb 18, 11:32 AM
    • 632 Posts
    • 1,287 Thanks
    ramblehan
    Well done Ozzy. One debt down already which is fab.
    Think you are amazing for going after a second job. Short term pain long term gain. It sounds as if it might be a tough gig though so perhaps set yourself a goal to last a month and then see if you want to keep going? It might just help to help you survive the early days xxx
    • UK_Ozzy
    • By UK_Ozzy 14th Feb 18, 11:47 PM
    • 29 Posts
    • 35 Thanks
    UK_Ozzy
    Hi ramblehan thanks yea it's awesome to knock one debt off hopefully the second one at the end of February.
    Yes can be tough at times think I will be reviewing it every month or so but doing this diary will help by showing we where the wages are going. If I can see my debt total falling every few weeks it'll help to keep me motivated.
    • UK_Ozzy
    • By UK_Ozzy 18th Feb 18, 6:24 PM
    • 29 Posts
    • 35 Thanks
    UK_Ozzy
    Not a great weekend work wise only did 8 hours this weekend, kind off wish I hadn't finished early on Saturday but did do a lot of extra hours thurs/fri was worn out so needed a good rest.
    • UK_Ozzy
    • By UK_Ozzy 19th Feb 18, 11:28 AM
    • 29 Posts
    • 35 Thanks
    UK_Ozzy
    So it's the 19th so months bills have all gone out. It stands at
    Car finance 6200 - 6040
    Work loan 100 - 0
    Cc1 3000 - 2900
    Cc2 800 - 780
    Cc3 2500 - 2320
    Phone 400 - 330
    Total 13000 - 12371
    Nothing extra paid so far this month waiting on overtime to be paid
    • MeenaM
    • By MeenaM 19th Feb 18, 11:35 AM
    • 255 Posts
    • 465 Thanks
    MeenaM
    HI and welcome to the forum

    Good to see one debt gone!
    Have you worked out a budget ? if you and your partner sit down and agree that before you get paid it should help . I would pay the minimum on the debts but put any extra to paying off the phone which is your next smallest debt , if i was you i would be putting the payments you were making on the work load towards clearing that one, if you can snowball your debts like that then you will pay them off quicker, so attack the phone bill next then when that has gone put the payments you were making on that and the work loan plus any extra in your budget onto CC2 and so on. Hope that helps
    Sealed Pot 11. #199Next1170Barclays Credit Card 4891.20/0- 0% ends April 2019 virgin 0% ends july 2020 4138 3596.29AA Credit Card 860 0- 0% ends Dec 2017 Sainsburys Credit Card 521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund 614/1000
    • UK_Ozzy
    • By UK_Ozzy 19th Feb 18, 1:57 PM
    • 29 Posts
    • 35 Thanks
    UK_Ozzy
    Hi meena thanks for welcome
    • UK_Ozzy
    • By UK_Ozzy 7th Mar 18, 8:36 PM
    • 29 Posts
    • 35 Thanks
    UK_Ozzy
    Hello diary sorry I've not updated you in a while been crazy busy and then very ill
    Well March is looking particularly rubbish now debt wise. It was looking good phone would have been payed off with all extra work but I've lost 2 days work due to snow and 5 days due to illness. So debt levels could rise this month especially with 3 family birthdays and could impact into April.
    This goes to show the importance of a emergency fund.
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