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  • FIRST POST
    • Nicnak
    • By Nicnak 10th Sep 17, 8:30 PM
    • 907Posts
    • 5,052Thanks
    Nicnak
    Debt Free Year
    • #1
    • 10th Sep 17, 8:30 PM
    Debt Free Year 10th Sep 17 at 8:30 PM
    Hi,

    I've pretty much buried my head in the sand over the past 15 years about debt and what it means. I've always seen it as 'normal' to have debt for things, and never thought twice about it. Recently though, I have wanted to think about cutting down my work hours, and I just can't. I can't be the mum I want to be to my 4 year old because I need to work to make sure I can pay the bills and debts. That is when it hit home, that I can't continue like this. I am having a wedding reception in December, which I know is going to take up most of my 'spare' cash, but from January 2018, I will make a difference to my debts.

    Currently have
    £485 0% credit card. It was £2000 in July, So I have been ensuring that I am working on it.
    £7500 Tesco loan at 3.2% - Paying £220 a month and due up in Three years
    £17,450 car loan. Car is in negative equity and I'm stuck in the PCP. The car also is over mileage and has damage. I am 10 months away from handing it back, but with excess mileage and damage, I am thinking this might not be the best idea. Currently paying £351 a month for this luxury that I am thinking I don't need. (I shouldn't have got it, but I did, I can't change what I have stupidly done, and now need to work on the best options).
    I spend money every month on things I don't need, and really need somewhere to record and focus on what it is I am doing, and the inspiration to keep going when I see progress is being made.

    I've started a written diary as well to try to help. If I pay off these debts, then I know that I will be £500 better off. In April, my phone is due up for renewal, and I have already looked at the SIM only deals which will take it to the £500 a month mark.

    i am going to try to earn some extra per month to pay off the debts, which in the short term might reduce the time I have with my daughter.

    Here goes...

    I really need to do this now.
Page 39
    • Nicnak
    • By Nicnak 3rd Apr 18, 6:45 AM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    Managed to get my credit card down to £960. A little less than planned because of the overdraft. I might be able to clear it off this month, but I suspect it will be more towards May pay day when I can get it completely cleared. Then it is concentrate on loan time. That will bring my debt to below 14k for the first time in about 6 years.
    Achievements this month
    My credit card now has more available balance than debt.
    I am just over 15k in debt.
    This month I have managed to pay around £700 off my debt.
    Gym membership ended

    Things that did not go well
    Had two tutoring sessions cancelled £60 lost
    Pay day falls outside the Easter holidays so having to be extra careful.
    I will enter my overdraft this month, but not by the £170 from last month. I!!!8217;m managing it slowly to ensure it stays out as much as possible.
    Last edited by Nicnak; 03-04-2018 at 2:43 PM.
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • louby40
    • By louby40 3rd Apr 18, 6:52 AM
    • 1,355 Posts
    • 3,679 Thanks
    louby40
    Hey Nicknak, to get rid of your 8217's go into settings on your iPad/iPhone and turn off Smart Keyboard! I had the same issue and someone suggested it to me. Worked straightaway.

    Great debt busting too!
    • Nicnak
    • By Nicnak 3rd Apr 18, 2:44 PM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    Thank you! It is so annoying. X
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 4th Apr 18, 9:28 AM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    Yesterday I took part in a teacher survey and got £50 amazon voucher. I have just added a few things to my basket ready for the voucher to come through and see what I want/need. I have decided to use it to treat myself as I have been lacking in that department recently.

    I need to sort out insurance renewal this month, as well as cancel credit card, and ensure I am staying out of the dreaded overdraft as much as possible.

    We desperately needed a shop so have ordered one today. Ordered as it saves me so much money compared to visiting a supermarket. Just have to survive the night with what we have in, shouldn't be too hard. I have some cash in my purse for the next few days, and I have sold some wax melts so will pick up the money for that tomorrow.

    Coffee first, and then jobs list and getting ready! I had a day in work yesterday doing revision so nothing really got done. x
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 4th Apr 18, 2:35 PM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    Trying for the gratitude today and here it is.
    Available credit open to me this morning was
    £500 overdraft
    £2000 Credit card one £960 balance
    £500 credit card two £0 balance

    Now:
    £200 overdraft
    £1200 credit card one £960 balance still
    £0 credit card two cancelled this morning.

    £1600 of available credit removed.

    Come two weeks, this will reduce by another £500. It's not debt paying in its standard form, but it is reducing credit availability and taking away some of the temptation that I have.
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 4th Apr 18, 3:57 PM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    Another £5 voucher for amazon earned today. Total now at £55, that'll pay for a new book as well as some other bits I have been looking at.

    i'm out tomorrow so going to be on a budget to ensure I don't spend too much money. just got my latest phone bill with my new provider - £6.90. Huge difference from the £48 I had last month!
    £40 difference in fact. Hubby has moved gym membership into his account now so that the joint is nice and clear of anything like that. It is being built up to house a two month buffer. One will always be a Christmas, and the second is an emergency fund that we might need.

    I am just increasing my savings payments from next month too. I currently save £20 a month, and I am changing it to £50 to build up my account.

    I have around £200 in a cash back site so hoping some of that clears soon to take away my credit card!

    I am getting there. It is a slow and steady process.
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 5th Apr 18, 8:25 AM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    Just checked cash back and it is nearer to £300 that I am looking at. Expected dates vary from June till August so will probably leave it in there until then to see how it goes.

    Out at a cafe today so will only take cash to ensure I don't overspend. meeting a friend for a coffee and she is buying the wax melts I sell, which is good. I will just recoup some of my outgoings that I spent on them.

    I'm proud that I have tackled 40% of my debt since September, and 27% since January. My only worry is that I don't currently have a job for September. I can do some supply work, but it won't be confirmed every week. I seriously need to start considering applying for some jobs. That is my priority this week.

    Have a good day everyone. x
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 7th Apr 18, 7:44 PM
    • 4,112 Posts
    • 27,933 Thanks
    HairyHandofDartmoor
    You're doing really well Nicnak, I know how hard it is not to spend, especially when you feel tired and ill. We're surrounded by temptation all the time!

    I hope you manage to find something for September, I'm sure you will .
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £81.59/Emergency Fund 2 = £41.81/Loss of Income Fund £0
    • Nicnak
    • By Nicnak 9th Apr 18, 5:05 PM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    Counting down the days till payday. Looking at my bank and it isn't good. I think it will end up worse than last month.

    Easter holiday spending has well and truly taken over. x
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 10th Apr 18, 11:20 AM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    Right, need to stop going over what and how bad it is, I need to fix it.
    listed one item on eBay, two more to follow today. Should have my overdraft.
    £20 bidder on one item already. I only put it on yesterday.

    Back tutoring next week. That's £60 next week so part of the overdraft clear.
    Promoting my wax melts like never before. Hoping for another £20 made.

    Not going to skint myself paying off the credit card. I am going to pay off around £500-£600 in the month leaving £460-£360 left for next month. I have learnt that over paying in a month where there are school holidays means an immediate overspend. I can't expect to entertain a 5 year old completely spend free. I haven't gone mad buying everything, and have used vouchers etc to do cinema trips (even travelling to a further away cinema) in order to get cheaper tickets - or going to the early morning screening. I have taken my own snacks and other bits, but it still equates to money. Tried to incorporate 'free' days too, most free days are outdoors and with this rain it is impossible to manage.

    This journey is about learning lessons as well as ensuring that I am debt paying. This month I learned a lesson so in that sense it is a very productive month. I have incurred overdraft fees when my credit card was 0%. All to show that it had been paid off. It would have been better to pay less off the credit card and allow some free spending for the holidays. Six week holidays need to be better planned, and more organised. At that point there will be no credit card, but loan overpayment will be a lot less to balance it out.

    I can do this, I need to learn as I go along and work out what works and doesn't. I'm never going to progress if I don't learn.

    Hope everyone else is ok. Off to promote my wax melts....

    Oh - £55 amazon voucher used to buy a birthday present for a girl for this weekend. A little bits of treats for me, and stuff to wrap up my wax melts. Also, got some left over £5 roughly to build up with doing surveys. I am working on £5-£10 a week whilst I am off work. £3 already earned from one site paid into paypal £5 earned from another - used to buy girls present with some of my own £50 voucher and also half way to another £5 amazon voucher so should be secured by Saturday at the very least.

    Trying so hard, but must not lose sight of what I am trying to do in the long run. The overdraft has resulted in fees, this wouldn't have happened if it was still on the credit card.
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 10th Apr 18, 2:57 PM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    Not at the end of the day yet, but celebrating some success. Little one was asking to go out so I dug out all the mini craft bits I have bought over the years and she has had hours making and paining at home. That's one day where there is no spend.

    Tea is out and will be sorted without shopping.

    Will just stay in now and relax for the rest of the afternoon.

    Listed another item on eBay that should hopefully sell for around £20. The other item should sell for around £50. That's going to go a long way to helping.

    Might go to we buy books and scan everything in the house!

    I am contemplating my rare books as well now. I was offered a lot less for them last time. I might be tempted to sell them now. It's something I will consider over the summer though.

    Hope everyone else is warm on this miserable day. I am off wandering around the house to see what I can sell. x
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • TheMoonandBack
    • By TheMoonandBack 10th Apr 18, 4:37 PM
    • 65 Posts
    • 101 Thanks
    TheMoonandBack
    Iíve just found some genuine Vauxhall Zafira roof bars buried under junk in the shed. Awsome, will stick them on eBay, itís like finding £50. Find it hard to sell books though so can see why you donít want to sell rare ones.
    Keep selling stuff !
    When you get to the end of your rope, tie a knot and hang on

    Proud to be dealing with my debts
    • Nicnak
    • By Nicnak 10th Apr 18, 7:18 PM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    It is like finding gold! X
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 10th Apr 18, 8:37 PM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    NSD YAY!!!

    Turns out I managed it. If I can have another day this week like today then it will help massively.

    I love books too. My rare books are what I love. There is one set that I would not contemplate selling unless completely desperate. The others I like, but would sell now if the money was right. I might email the shop that wants to buy them tomorrow to see whether there is an increase in what they were prepared to offer. I have another rare book that I might offer them back as well. I have noticed they have sold out of anything similar and might possibly want another one. I will try and see what I paid for it.

    I had a look in my stocks ISA earlier, and there is £402 in it. I'm not going to cash it out as i have 0% on my credit card so no point at this moment in time. I'll stick to my plan of paying off a little less than expected and then see where I am at the end of the month and maybe pay off some more.

    Love writing in my diary, it helps to focus my thoughts. x
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 10th Apr 18, 9:57 PM
    • 4,112 Posts
    • 27,933 Thanks
    HairyHandofDartmoor
    I hope you find some stuff to sell. Are you sure you want to sell your rare books? You might regret it one day. I have a diamond ring my mum gave me which I could sell if I was desperate, but I know I'd regret it if I did and so far we've always managed to survive without selling it.
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £81.59/Emergency Fund 2 = £41.81/Loss of Income Fund £0
    • Nicnak
    • By Nicnak 11th Apr 18, 7:25 AM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    I hope you find some stuff to sell. Are you sure you want to sell your rare books? You might regret it one day. I have a diamond ring my mum gave me which I could sell if I was desperate, but I know I'd regret it if I did and so far we've always managed to survive without selling it.
    Originally posted by HairyHandofDartmoor
    Yes, I have three rare book sets. One would not be sold unless I was desperate. Two are nice books, but have no sentiment to me at all.

    It'd pay off my credit card if I sold them, so it is why I am considering it. I have some jewellery too that I could sell, but not sure I would be able to! I don't even wear the stuff! x
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 11th Apr 18, 2:06 PM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    Today has been a good learning day again. I bit the bullet and emailed the book seller with the lesser of the three book sets. I will wait and see what he comes back with.

    I listed some books on eBay yesterday and have a bid of over £3 for them now. I started it at 99p. The book thing where you sell books offered me 5p for two of them and £1.46 for the other. I am better off already and it has 5 days listing left on it yet. We will see how that one goes. Listed another jumper too that should sell for around £5. Every little bit adds up together to make a huge bit.

    Just sorted my car tax out. It was £140. I really don't want that leaving my bank all at once so opted for the monthly payment set up. I did it today and the first payment comes out on the 1st May. My bank is already down this month covering my overdraft.

    Little one ran out of a lot of craft things yesterday so I planned to go into a local shop today to top her up. I knew it would be cheaper that a day out, or taking her for coffee and cookie, and it would last her at least three days if not more. I went into the cupboard and found £10. I took it with me and it came to £10.47 - I had a pound in my purse so thankfully no card spend today at all. Pay day is technically Sunday, but it usually comes in on a Saturday when it is a Sunday. both me and hubby are feeling the pinch this month.

    £4.50 worth of charges on my bank account, which was to be expected. I am sure it will be higher next month to account for this months overspend. Not idea, and I am certainly not happy about it in the slightest. I need to make around £250 to sort out overdraft and some more off my credit card. I can hopefully sell this one book (It's worth around £300 - I think anyway). Then my tutoring, and then anything I can sell on the wax melts too. Ebay should come in around the £100 (hoping for this anyway- one bag alone should fetch £80). If everything comes in then I will be in a very strong position for next month. If it doesn't then I should at least clear most of the damage I did this month, and keep me out of the damage for next month.

    I am learning so much along this journey. That is the part I needed to do the most to stop anything like this happening again.
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 11th Apr 18, 9:07 PM
    • 4,112 Posts
    • 27,933 Thanks
    HairyHandofDartmoor
    Good going on the ebay books. Juggling the finances is so hard .
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £81.59/Emergency Fund 2 = £41.81/Loss of Income Fund £0
    • Nicnak
    • By Nicnak 12th Apr 18, 7:33 AM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    Thank you. I have some more bids overnight. Up to over £5. X
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 12th Apr 18, 10:08 AM
    • 907 Posts
    • 5,052 Thanks
    Nicnak
    Another £5 voucher earned. Not cash in my account, but certainly worth having in my amazon account to keep in case I need something.
    September 6th 2017 - Updated 13th May 2018
    Credit Card £0 now: £460 Tesco Loan £7500 = £0 Consolidation £15,000 = £13,855 Total = £25,330 £14,315 43% gone EMF #252 = £700/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
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