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  • FIRST POST
    • LadyP01
    • By LadyP01 23rd Apr 17, 10:10 PM
    • 142Posts
    • 419Thanks
    LadyP01
    £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 8
    • LadyP01
    • By LadyP01 11th Feb 18, 10:25 PM
    • 142 Posts
    • 419 Thanks
    LadyP01
    It certainly is. Today was another NSD and tomorrow should be the same if my car can just hold out until Wednesday. I wondered why my petrol was so low when £20 lasts a week then I realised my days off were before I filled up so its hitting me hard this week. Lets see if I can atleast push through tomorrow.

    Samples are going well. IV fallen in love with two new perfumes, hopefully Ill remember them for my birthday. My big bottles perfumes have been on a draw for nearly two weeks now so Im going to see a saving using these samples. Must get some more.

    17 days till pay day. Thats just over two weeks. I can do this!
    • LadyP01
    • By LadyP01 13th Feb 18, 11:24 AM
    • 142 Posts
    • 419 Thanks
    LadyP01
    Had to get petrol yesterday so spent £20 from the petrol allowance.

    Should be a nsd today.

    Need to do some more surveys in slacking a bit.
    Last edited by LadyP01; 13-02-2018 at 11:26 AM.
    • LadyP01
    • By LadyP01 14th Feb 18, 4:48 PM
    • 142 Posts
    • 419 Thanks
    LadyP01
    I am exhausted and feeling extremely down and tired today.

    Went shopping and so much I wanted to buy as gifts but Im sure there will
    Be more around when Im
    Debt free and have a present fund.

    Spends today:
    £5.58 on food
    £26 on makeup I wanted out of my clothes etc account.
    £12 bday gift from present account.

    Its freezing cold and I just feel like a failure, Im tired and have no energy to do anything.
    • LadyP01
    • By LadyP01 18th Feb 18, 9:30 AM
    • 142 Posts
    • 419 Thanks
    LadyP01
    10 days to go im nearly there.

    Done some over spending I think so I need to work out where Im at money wise although I know Iv saved in other areas.

    Thursday - £6 on fresh fruit
    Friday - £1 on food
    Saturday - NSD

    Going out for a day at the beach to blow the cobwebs away. Going to pack some snacks to eat aswell so should be a nsd fingers crossed.
    • Cherryfudge
    • By Cherryfudge 18th Feb 18, 9:54 AM
    • 1,618 Posts
    • 8,558 Thanks
    Cherryfudge
    Sorry to hear you're feeling down. Some good low spending there, though - knowing where it goes is half the battle I think, and makeup and fresh fruit will both help you feel better.

    How was the beach?
    • LadyP01
    • By LadyP01 19th Feb 18, 7:48 AM
    • 142 Posts
    • 419 Thanks
    LadyP01
    The beach was lovely thank you. Weather was great so it was really enjoyable.

    Feeling much better. The weather was making it so cold and then in turn that makes me want to eat naughty things that then makes me feel guilty for eating unhealthy things and for wasting money on those things. Itís a vicious cycle.

    It has made me realise how much of a sweet tooth I have and how much I cant control my cravings as Im replacing naughty stuff with lots and lots of fruit so my sugar cravings are always there. Iv decided to give sugar up for a bit so Im expecting a rough week or two. A few days in and Id say headaches are a thing. I never suffer from headaches which shows its the lack of sugar causing them. Nothing a good nap hasnt solved so far. Im expecting to turn into a monster next week due to withdrawals so we shall see how my mood changes.

    So far so good I feel good maybe a little more energy but nothing to obvious yet but my ability to turn down sweet stuff so far has been good.

    Ill be doing a money check tomorrow to see what I have left for the last 9 days of the month.
    • Cherryfudge
    • By Cherryfudge 19th Feb 18, 10:47 AM
    • 1,618 Posts
    • 8,558 Thanks
    Cherryfudge
    I'll be interested to see how you feel with giving up sugar. I think I have much more of it than I need to. Hope the headache soon goes.

    The beach sounds lovely.
    • LadyP01
    • By LadyP01 20th Feb 18, 11:19 AM
    • 142 Posts
    • 419 Thanks
    LadyP01
    Day4 of sugar free and my concern is how little side effects Iím having. Iv read up loads on this and thereís reports of fatigue big headaches and basically just pain and I thought to myself Iíll go in head first knowing it will be a rough week and see where we end up.

    Apart from the mild headaches on Day 1 that like I say are 100% from the sugar as I donít suffer from them Iv had nothing else. Hunger is a thing more out of lack of preparation leaving me with limited sugar free options when out but my determination has meant that I found options to have.
    Everything Iv had has been prepared from scratch by myself so Iím 100% sure Iím not still consuming any of those hidden sugars so Iím confused, delighted and worried Iv made a mistake somewhere but Iv asked someone to check my food diary and they have confirmed that my food has been sugar free.
    Feeling wise... I feel good no massive changes to skin or weight that I can tell but more in my attitude I feel like Iím winning and like Iím in control it feels a lot like my debt. When I eat bad things I feel like a failure much like I did when I realised how much debt I was in. Hiding your head in the sand and then when you start hacking away at your debt you feel in control and powerful. That is how giving sugar up has made me feel.

    I will say Iím not going crazy this is temporary more to reduce my sugar in take rather then cut it for life I will slowly introduce fruit back next week but avoid chocolates and cakes for much longer.

    Now the money update!
    8 days to go!

    Actually my spending is fine I just feel like itís out of control when I havnt had time to check it all over.

    Social - £10
    Food - £10
    S/world - £5
    Present - £12
    Left over in bank account -£44.44.

    That should see me through the 8 days. Worried about petrol but should be fine.

    That £44 if itís left by pay day can be added on to next months debt busting.
    Iím worried Iv missed something to have it left over so Iím leaving it there until pay day just in case.

    Need to keep motivated for the week! As this months debt repayment marks one full year since my LBM so Iím excited to see what Iv done in that year.
    • Cherryfudge
    • By Cherryfudge 20th Feb 18, 12:39 PM
    • 1,618 Posts
    • 8,558 Thanks
    Cherryfudge
    Well done for keeping off the sugar! Just amazing how much of it we eat.

    How exciting to be close to a year into your repayments. From the figures you're posting it doesn't sound as if you're spending wildly so I am sure you'll see lots of progress.
    • LadyP01
    • By LadyP01 21st Feb 18, 7:56 AM
    • 142 Posts
    • 419 Thanks
    LadyP01
    Iím hoping so. Im so close I can just feel it but I think these will be the toughest months as I really need to curb my spending on little things so it all adds up. Im already going to be over by a month Im sure. Its all down to me and the things I do.

    I forgot to work in Easter into my budget!! And Mothers Day! Costly! Maybe a trip out shopping and an easy lunch for my mum and Easter I have a plan which will need to be executed on pay day and the chocolate given to someone to keep safe from me!!!!

    NSD yesterday I will need to get some food shop items tonight. Trying to keep it under £5
    Last edited by LadyP01; 21-02-2018 at 7:58 AM.
    • onedaysomeday
    • By onedaysomeday 21st Feb 18, 5:02 PM
    • 252 Posts
    • 375 Thanks
    onedaysomeday
    Just popping by to say I've read through your diary and you have done an amazing job! Well done!
    CC1 £1410.00/£1398.90 CC2 £162.29/£162.29 CC3 £132.14/£117.14
    Old Debts £1252.21/£1252.21 OD £534/£534
    Loan £1195.20/£1195.20 Nan/OH Loan £1135.50/£1135.50
    Paid £60.00/£5821.34 // Days until Debt Free = 343
    Car Fund £500 EF £30 Savings Pots £40
    • LadyP01
    • By LadyP01 21st Feb 18, 8:30 PM
    • 142 Posts
    • 419 Thanks
    LadyP01
    Thank you one daysomeday! And massive thanks for taking the time to read through my year worth of woes.

    I was having an averagely good day but thats just peeked me right up.

    Food today cost £5.40 still have £4.60 left to spend.
    • onedaysomeday
    • By onedaysomeday 22nd Feb 18, 8:59 AM
    • 252 Posts
    • 375 Thanks
    onedaysomeday
    Thank you one daysomeday! And massive thanks for taking the time to read through my year worth of woes.

    I was having an averagely good day but thats just peeked me right up.

    Food today cost £5.40 still have £4.60 left to spend.
    Originally posted by LadyP01
    Glad to have helped
    CC1 £1410.00/£1398.90 CC2 £162.29/£162.29 CC3 £132.14/£117.14
    Old Debts £1252.21/£1252.21 OD £534/£534
    Loan £1195.20/£1195.20 Nan/OH Loan £1135.50/£1135.50
    Paid £60.00/£5821.34 // Days until Debt Free = 343
    Car Fund £500 EF £30 Savings Pots £40
    • LadyP01
    • By LadyP01 24th Feb 18, 5:17 PM
    • 142 Posts
    • 419 Thanks
    LadyP01
    4 days till pay day! Feeling great.
    Spending has been good, Thursday - NSD Friday - NSD saturday - finally purchased the birthday present after lots of visits to find something. £18.50 in total.

    Day 8 of sugar free and its going amazingly
    Weighed in and lost 5 pounds.
    No cravings and I feel full all the time so thats great.

    Hope everyone is having a fab weekend.
    • LadyP01
    • By LadyP01 2nd Mar 18, 9:59 PM
    • 142 Posts
    • 419 Thanks
    LadyP01
    How time flys. I hope everyone;s been enjoying what they can of the snow. Cant beat them join them and all that.

    Busy week and not so busy week just been relaxing and enjoying life.

    Pay day has come and gone and tomorrow I will sit down and sort through my budget and pay some debt

    Be back tomorrow Im looking forward to my new total!
    • Miss Money Magnet
    • By Miss Money Magnet 3rd Mar 18, 8:19 AM
    • 120 Posts
    • 406 Thanks
    Miss Money Magnet
    I have just read through your diary and I think youve done amazingly well!!
    You are so determined and deserve to achieve your dreams x
    "Never underestimate the power of small amounts"
    New Mortgage started March 17 £236,000 (28 years) NOW £231,500 March 3 18. 68% LTV
    Regular overpayment of £130 (reduces to 22 years)
    Target extra overpayments: ..??
    • LadyP01
    • By LadyP01 3rd Mar 18, 11:50 AM
    • 142 Posts
    • 419 Thanks
    LadyP01
    Awww thank you so much for saying that miss money magnet!

    Its amazing how quickly frugal becomes a natural habit.

    X
    • LadyP01
    • By LadyP01 3rd Mar 18, 3:48 PM
    • 142 Posts
    • 419 Thanks
    LadyP01
    This is my official ONE YEAR breakdown.
    Itís official... I have been busting a gut for exactly a year now trying to hammer down my debt.

    This time a year ago I was starring at the figure £16,000 on a page and wondering where or how it had got that bad, why coudnt I get out of this debt?

    A year on and Iv made Februaryís payments. Iv managed to pay another £824.06 which is lower than ideal but I got paid my standard pay this month.

    MY NEW DEBT TOTAL ISSSSSSSS.......

    £3500

    I am so close and nearly there but as always that last bit always seems like the big stuggle.

    I wonít hit may as my debt pay off deadline unless I get a miracle pay rise. Itís looking like June/July will be likely depending on how much I can pay off each month so itís getting tough.

    This month we have Motherís Day and Easter in it so a tough month. I have money in my budget for these but Iím excited to see how savvy I can be with everything and get out and see how I can save some money.

    I think it hasnít sunk in that Iv paid £12,500 off in a year. That means Iv spent £9500 on the cost of living thatís 43% of my salary going to the cost of bills and fun and 57% to debt. Happy with those figures and I would be happy if the debt percentage turned into savings.

    This year I have gone on holiday 5 times on some great deals. On review this has cost money that could have gone to debt I had purchased the holiday before my LBM so I did what I could around that.
    This year there is no holidays planned just save save save but that might be reviewed for a uk get away after the debt is gone.

    I have cut down on haircuts, beauty products, nights out, food just about everything and I donít regret it.

    Happy winter weekend everyone I hope your all having some great money moments like I am.

    • enthusiasticsaver
    • By enthusiasticsaver 3rd Mar 18, 3:57 PM
    • 6,255 Posts
    • 12,399 Thanks
    enthusiasticsaver
    What a fantastic result and a great example of how to tackle debt. When that £3500 is gone you will have £9000 towards your deposit if you continue saving at the same rate/put money to debt by this time next year.

    Sounds like you are doing well on cutting sugar out of your diet. I try that too every so often but then fall off the wagon . I am sure it is addictive.
    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
    • LadyP01
    • By LadyP01 3rd Mar 18, 4:13 PM
    • 142 Posts
    • 419 Thanks
    LadyP01
    That would be so exciting I need £10,000 in total and Ill have 18 months to do it so I might be able to save more.

    Im on Day 15 I think? Iv lost half a stone and I feel really good. I had two slightly wobbly moments this week... creatures of habit in the petrol garage and I was starving. I thought to myself Im
    Hungry not craving so the right food I need is protein, grabbed some ham and a scotch egg that was 1.2g of sugar... Id had none of my alliance of sugar that day and hunger was filled.
    Its days like that that show you how your decisions make a difference. I hope I can keep it up. Im having bits of sugar occasionally and Iv only had fruit once as I found it made me really hungry after like sugar does so Im avoiding that if I can. X
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