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    • LadyP01
    • By LadyP01 23rd Apr 17, 10:10 PM
    • 155Posts
    • 445Thanks
    16,000 debt, turning regret into positive action.
    • #1
    • 23rd Apr 17, 10:10 PM
    16,000 debt, turning regret into positive action. 23rd Apr 17 at 10:10 PM
    So here i finally am, writting my debt free journey out for you all to read.
    I had my LBM back in febuary when i finally relised that my attempts to be debt free were failing me. I had just purchased alot of holidays and spent alot of money redecorating, i soon relised i was undoing all my hard work.

    When i relised something needed to be done this was my financial situation:
    Loan - 10,000 - only had 800 paid off
    Credit card 1. -2,900
    Credit card 2 - 2,600
    Overdraft - 40

    I decided to get a loan total out of 16,000 this was obviously a little more then i needed but i put i decided to borrow more to start an emergency fund from day 1 so that i avoided having to borrow on credit again.
    I cut off my overdraft so that is gone, so now i just have a 16,000 loan!!!!!!!

    This is now technicly my second month moving into my third month of debt busting and so far im really pleased with how hard iv worked. Iv decided to use a savings account to hold all my savings till september with the hopes of having 10,000 to make a dent in that loan on a repayment. Then i can pay off the final 6000 on a 0% credit card and continue paying it off interest free.
    My progress so far in my savings account is: 5,645.60

    I have a long way to go!!!! But i feel i have been doing some massive savings already to knock away my debt. I really want to be debt free in 2018 and im desperate to make this happen.

    I will do a spendings break down on here later i forget what you call it to show how im spending my money. Iv been coming up with lots of ideas to save myself money and get back into the black.

    Thank you for reading, hope i didnt go on to much... Need to keep this motivation going

    Quick update:
    Its now June and i have officially brought my debt total down to 9428

    Keeping motivated
    Last edited by LadyP01; 03-06-2017 at 11:36 PM. Reason: Update
Page 11
    • onedaysomeday
    • By onedaysomeday 19th Jun 18, 11:06 AM
    • 559 Posts
    • 791 Thanks
    Well done - debt free is so close!
    Just trying to make up for past mistakes and work towards the future I want
    • LadyP01
    • By LadyP01 9th Jul 18, 10:05 AM
    • 155 Posts
    • 445 Thanks
    Hey everyone

    God I needed to come and chat here a lot earlier than today. I'm about to sit down and do my finances but wanted to post first.

    Lots of money needed to be spent this month already and were only at the beginning. Two work trips that need paying back so I'll get the money for those put through ASAP.

    The weather has simply been delightful sonsome cheap days out have been had. Petrol to the beach and parking is a cheap day of absolute bliss especially when we don't have a holiday this year.

    Also had to buy some camping equipment for the oh birthday weekend. We're planning on using it a lot this summer and maybe next so I'm happy with the coatings as we have got some bargains so cheap. 40 for the tent 7.50 for the bed. Not to bad.
    Diving into the world of cheaper holidays in the uk and swapping my usual hotel room for a cheaper camp site. Maybe now I can get myself down to Devon cheaply.

    Last but no least my car.

    It is all over

    My plan of paying off debt and then saving for a new car had been whipped away but I'm ok with it I have settled with the fact that it's happened and he car made it up to he last bit of the debt repayments so I can't complain really just wish it had a few more months in it yet.

    That debt freedom is looking a little way off now
    • LadyP01
    • By LadyP01 9th Jul 18, 10:35 AM
    • 155 Posts
    • 445 Thanks
    Quick finances look!

    First note- I need to go back to getting cash out at the beginning of the month. It's the only way for me.

    To do today! Send expenses off! ASAP and get my money back.

    My rent had increased by 20 a month which is ok and easy to deal with.

    At the moment I have 649.40 left for the month.

    3 weeks till pay day.

    I will also have my expenses due back to me aswell on top of that.

    My debt to pay off is around 1100

    Not going to make it this month but we can be chipping away at it to make next months easier.

    I'm going to sort out what I'm owed and organise birthday presents and money for our weekend camping trip and see what I have left and distribute accordingly.

    I need to get back to posting everyday and being on my game. This sunshine distracts me.
    • Cherryfudge
    • By Cherryfudge 9th Jul 18, 1:45 PM
    • 1,849 Posts
    • 10,032 Thanks
    Sorry about the car. Expensive creatures; have you replaced it?

    Getting cash out for spending helps me too: when you can see what you have left it help you focus. I'm also getting good at using up ingredients.

    Lots of people (including me) find it helps to post everyday - I'll keep a look out for you! And the sunshine is a distraction, yes, but it's also like a free (cheap) holiday. Well done on the bargain camping gear by the way - that should add up to lots of low-cost relaxation.
    MFW #30 Paid off 2,109.13/3770 as of 12/7/18
    • LadyP01
    • By LadyP01 10th Jul 18, 8:16 AM
    • 155 Posts
    • 445 Thanks
    Posting everyday helps remind me I'm on this journey.

    We've replaced the car and Iv actually sold my car for over twice it's actual value in a good deal and it's a joint venture so that eases the costs. I'm really happy with car and I spent a lot of time looking at my options and I think Iv made a good choice.

    This sun really is like being on holiday. I intend on taking that tent and booking some weekend breaks with some cheap pitch fees and relaxing. If we have got it might aswell use it.

    Didn't get time to do my expenses yesterday but I'm going to try and go in today and get it done just so I know what I'm expecting and when.

    Also need to move all my money around from all my accounts into my main one so I know what I have.
    • Cherryfudge
    • By Cherryfudge 10th Jul 18, 11:09 PM
    • 1,849 Posts
    • 10,032 Thanks
    It sounds as though you've done really well regarding the car!

    There's no hurry to get out in the sun - it looks as though we'll have it for a while yet. Still, it doesn't hurt to practice unwinding and destressing, does it?
    MFW #30 Paid off 2,109.13/3770 as of 12/7/18
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