Hi
I have decided to re-join this forum so that I can stay motivated to bust my debt.
A bit about me...I work full-time in London which gets me about £1.4k per month.
I owe £15,000 exactly on 0% interest. This is £13,500 to bank of ma and pa (started at £15,500 in October), which paid for my postgrad, and £2k of student overdraft.
I pay £250 per month to my parents but I would like to start making overpayments.
Frankly, until now, I have not really even thought about my student overdraft because it's on 0%. However, in June or July (not sure which - oops), it will reduce by £1k so I will need to pay it back ASAP.
I live at home at the moment, although I will be moving out in September.
My monthly expenses are food and £350-ish on a train ticket since I commute into London daily. I also pay £200 per month into a help to buy.
Goals
1. Pay back £1k into my overdraft by end of July, whilst continuing to make £250 repayments monthly.
2. Save a £1k moving fund. I am trying to declutter and become more minimalist so that I don't have so much stuff to move, but there will be general moving expenses.
3. This one is a bit ambitious - I would like to try to pay back all the monies owed to my parents by next year. The current agreement is that I would keep paying them £250 pa until 2021 but I really really don't want to do that, because...
4. This one is long-term. Save £20k by 2021 so that I can be on my way to putting down a deposit for a house.
I have started this diary because although I have been on the debt free journey for about three/four months, I have been noticing myself slipping lately, so hopefully this will hold me accountable!