I want to stop drowning

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  • debtaghh
    debtaghh Posts: 1,794 Forumite
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    Hi,

    I've been watching a lot of rich house poor house lately and it's really got me motivated to get rid of this debt. We will never be rich but much better off without the debt. I really want to clear the Nuba as I'm so close! If I use savings to clear it, it means I'll have money in the account for the holiday and about £200 for other. We are due our mot and car tax in a couple of months and servicing but I'm tempted to just pay it off as then it's gone. I then would have to find the money for those things via salary and budgeting a very low food shop.
  • Silver_Queen
    Silver_Queen Posts: 824 Forumite
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    If it were me, I'd just pay it off the Nuba and figure everything out after. Probably not the most fiscally responsible way to do it but it would be worth it for the win and added motivation.
    Debt Totals July 2019::
    [STRIKE]£350 Natwest Credit Card [/STRIKE]/ ]Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £7,000 £5,000 sister loan/ Now £0[STRIKE]£500 train ticket loan from parents [/STRIKE]/ Now £0 (paid off 16/02/18)[STRIKE]£2,000 Overdraft[/STRIKE] Now £0 (paid off 09/03/18) £1,967.83 Barclays 0% card Now £0     Total £7,000
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,595 Ambassador
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    I think I would agree with silver queen that clearing the Nuba would give you a win in getting rid of a soon to be charging interest debt and motivate you perhaps to keep going.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • MrsSave
    MrsSave Posts: 1,817 Forumite
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    Clearing the Nuba would reduce your minimum payments every month. That should mean you are that much closer to being able to fully budget every month rather than your outgoings being so much higher than your income.
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • debtaghh
    debtaghh Posts: 1,794 Forumite
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    Morning,

    Minimums all paid and signature updated. After discussing with dh we decided to keep money towards the things they were allocated for rather than rush and clear the Nuba. We are not currently paying interest on it and will just try and chip away at it. It's now down to £1145. I've allocated my £250 food budget and did a meal plan the other day. I'm going to go to Aldi soon and really watch what I spend.

    Have a lovely day x
  • debtaghh
    debtaghh Posts: 1,794 Forumite
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    £84 spent but I stocked up on lots. £166 left.
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,595 Ambassador
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    Nice to see that debt below £48k. Good luck on your grocery challenge.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • cha97michelle
    cha97michelle Posts: 5,818 Forumite
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    Wow amazing progress recently. Come on - you can do it. Food shop is one area I keep trying to shave a bit from. I am basically feeding 4 adults though with how much my pre-teen boys eat.

    Anything you can save here is a bonus.
  • debtaghh
    debtaghh Posts: 1,794 Forumite
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    Morning,

    Have had a lovely week off with the chn and the best bit is, I've spent nothing! Lately I feel that I'm really appreciating things and looking at life differently.

    I've stuck to my meal plan so far and am hoping I manage my food challenge.

    Isn't it lovely when the sun is shining and now it's lighter for a bit longer.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    That's great, debtaghh, you're sounding much more positive. :)
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