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  • FIRST POST
    • SecretShopper123
    • By SecretShopper123 29th Mar 18, 12:21 PM
    • 9Posts
    • 14Thanks
    SecretShopper123
    Young & Careless to Young(ish) & Broke
    • #1
    • 29th Mar 18, 12:21 PM
    Young & Careless to Young(ish) & Broke 29th Mar 18 at 12:21 PM
    Hello everyone, after months of reading other peoples diaries I have no decided to take the bull by the horns and start my own.
    I still need to sit down properly and work out all my debts and figure the best way for me to start paying them off and once the ball is rolling with that then I can start to save to buy my first house!
    I have spent approximately 18 months out of the last 24 on maternity (2 babies close together) which has been a major factor in the debts spiralling to a silly amount. I am lucky that we are in a position to always pay our bills and have enough left over to enjoy little luxuries eg a takeaway once a month.
    I return to work in the next few weeks which will be bring in an extra £1000+ each month which is going to help out so much but Iím sure we all also know when we have extra money we spend extra money so that is more where Iím hoping the diary helps me keep my spending under control.
    Anyways thatís enough rambles for now, looking forward to speaking to you all soon.
    Oh and how do you follow peopleís diaries, so many browsers open on my phone so I donít lose the diaries I love to follow, surely there is a follow button?
    XO
Page 1
    • SecretShopper123
    • By SecretShopper123 29th Mar 18, 10:29 PM
    • 9 Posts
    • 14 Thanks
    SecretShopper123
    • #2
    • 29th Mar 18, 10:29 PM
    • #2
    • 29th Mar 18, 10:29 PM
    I am so motivated to clear this debt but I hate that I can!!!8217;t make a proper start until July! Going away in June so need to save any extra money from returning to work to cover new clothes and extra spending money, wish we could get away without new clothes but after weight lost this is an essential.
    I think this is what my debts stand at approx at the moment:
    Catalogue £680 (Joint)
    CC1 £700 (Joint)
    CC2 £1950 (Joint)
    CC3 £3750 (Own)
    CC4 £4300 (Own)
    Loan1 £11800(Joint)
    Loan2 £4000(Joint)
    Makes me feel physically sick seeing it written down like this.
    My plan is to pay off from smallest to largest debt minus CC2 & 3 as these are my own debts so will do these separately. I am hoping to have £700 each month to pay towards these so my plan is to pay minimum to CC 1&2 and pay left over to very until cleared then move onto CC1 and so on. The loans are always paid each month and once the time comes over payments will go to these.
    I have £250 for myself each month so this will go to clearing CC3&4.
    Frustrates me how easy it is to get into debt and how long it takes to get out of it.
    XO
    • enthusiasticsaver
    • By enthusiasticsaver 29th Mar 18, 10:35 PM
    • 7,097 Posts
    • 15,351 Thanks
    enthusiasticsaver
    • #3
    • 29th Mar 18, 10:35 PM
    • #3
    • 29th Mar 18, 10:35 PM
    Welcome and good luck with clearing the debt.

    You can subscribe to threads by going to thread tools and adding subscription for the diaries you want to follow. To go to the list just use quick links.

    What interest rate are you paying on your debts? Usually the best way to clear it is to tackle the most expensive first or if they are all 0% then the one which expires first.
    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
    • SecretShopper123
    • By SecretShopper123 30th Mar 18, 10:42 AM
    • 9 Posts
    • 14 Thanks
    SecretShopper123
    • #4
    • 30th Mar 18, 10:42 AM
    • #4
    • 30th Mar 18, 10:42 AM
    The catalogue is at 0%, with some ending August, October then December so I think if i get this paid and cleared first then I don!!!8217;t need to remember different dates to pay this off.
    I am pretty sure CC2 is the highest interest rate so I guess my plan is going in my favour with the highest interest rate being the card with also the lowest amount on it.
    Aims for 2018
    Pay off catalogue account and close
    Pay off CC1&2 and close
    Make an overpayment of £1000 to loan2
    Balance of CC3 to £2500
    Balance of CC4 to £3500.

    I am sure these are all achievable if I stick to my plan.

    XO
    • Debtnomoreplease
    • By Debtnomoreplease 30th Mar 18, 11:32 AM
    • 142 Posts
    • 331 Thanks
    Debtnomoreplease
    • #5
    • 30th Mar 18, 11:32 AM
    • #5
    • 30th Mar 18, 11:32 AM
    Hi and welcome,
    Just wanted to wish you luck on your debt free journey. A great start isto get it all down-never looks pretty, but you're a step closer today than yesterday being debt free because you're ready to deal with it and not bury your head-well done!

    Maybe put a little plan in place, every £1000 you pay off give yourself a little treat? Sometimes it can feel you're only working to pay off debt, and that can sometimes knock people and they tend to give up quicker. A takeaway perhaps every £1000 paid off, or what ever you prefer. We are human and as much as seeing your debt disappearing, we like other reward too ;-) This is only a suggestion, so please don't feel you have to do this.

    All the best, and keep posting on the good, bad, ugly days-we are all here to help and I can be sure that what ever you're feeling on those days, some on here will be able to relate.

    Good luck!
    • Debtnomoreplease
    • By Debtnomoreplease 30th Mar 18, 11:33 AM
    • 142 Posts
    • 331 Thanks
    Debtnomoreplease
    • #6
    • 30th Mar 18, 11:33 AM
    • #6
    • 30th Mar 18, 11:33 AM
    Hi and welcome,
    Just wanted to wish you luck on your debt free journey. A great start isto get it all down-never looks pretty, but you're a step closer today than yesterday being debt free because you're ready to deal with it and not bury your head-well done!

    Maybe put a little plan in place, every £1000 you pay off give yourself a little treat? Sometimes it can feel you're only working to pay off debt, and that can sometimes knock people and they tend to give up quicker. A takeaway perhaps every £1000 paid off, or what ever you prefer. We are human and as much as seeing your debt disappearing, we like other reward too ;-) This is only a suggestion, so please don't feel you have to do this.

    All the best, and keep posting on the good, bad, ugly days-we are all here to help and I can be sure that what ever you're feeling on those days, some on here will be able to relate.

    Good luck!
    • SecretShopper123
    • By SecretShopper123 31st Mar 18, 8:50 AM
    • 9 Posts
    • 14 Thanks
    SecretShopper123
    • #7
    • 31st Mar 18, 8:50 AM
    • #7
    • 31st Mar 18, 8:50 AM
    April is going to be a hard month money wise for me! I get maternity allowance at the moment which is £560(ish) every 4 weeks but every month I was also getting £180 tax back but that has now stopped.
    I have worked out I will be £90 short for the month but I have listed items for sale and also have started doing surveys online which I!!!8217;m hoping between the two will cover that shortfall! Any other suggestions to earn a little money?
    My OH never has any spare money so no point asking him. As much as I don!!!8217;t want to go back to work yet the money is going to help so much that I will deal with the working Mum guilt, is it just me but I feel like I!!!8217;m the only Mum I know having to work full time.
    XO
    • EssexHebridean
    • By EssexHebridean 11th Apr 18, 3:45 PM
    • 8,719 Posts
    • 46,049 Thanks
    EssexHebridean
    • #8
    • 11th Apr 18, 3:45 PM
    • #8
    • 11th Apr 18, 3:45 PM
    Found your diary after looking at your other thread posted on the boards. well done in facing up to your situation and realising that you need to sort it - that's the toughest step done right there!

    I take it you've been right through your finances and worked out everywhere you can possibly make savings? That might be on groceries (often when a shortfall is relatively small that's one of the best areas to find savings!) or perhaps there is another area which is more "treaty" and you think you can put it aside for a while to make a saving.

    One thing I did spot is you mention going away in the summer - is that all paid for and you have spending money saved ready barring the odd bit?

    Definitely get the details straight in your head about interest rates etc. It really helps to tackle the highest interest rates first (but what you say about clearing the catalogue makes sense as often the interest rates on those are horrible) as then you make more impact with just minimum payments elsewhere.

    For new clothes keep your eyes peeled in your local charity shops - you can get some real bargains and often the stuff is barely (if at all) worn! for basic t-shirts and similar Primark are good - simple vests from £2 and short sleeved tops in a variety of styles from £3 IIRC. For the sort of clothes that you'll replace relatively often anyway they're great.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£1035.63 (09/07/18)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • SecretShopper123
    • By SecretShopper123 19th Apr 18, 5:28 PM
    • 9 Posts
    • 14 Thanks
    SecretShopper123
    • #9
    • 19th Apr 18, 5:28 PM
    • #9
    • 19th Apr 18, 5:28 PM
    Not updated on here as not much I can do to properly start debt busting until my first full pay at the end of June.
    Have managed not to use my credit card this month so no extra added to my debt which is always a good start.
    I have paid all the holiday in full already and have started putting money aside for spending but we are all inclusive so don!!!8217;t need much money.
    Need to sit over the next few days and make my plan for paying things off in May.
    XOXO
    • mumof3.12kindebt
    • By mumof3.12kindebt 19th Apr 18, 7:13 PM
    • 374 Posts
    • 1,039 Thanks
    mumof3.12kindebt
    good luck.. ill be following ...
    • SecretShopper123
    • By SecretShopper123 23rd Apr 18, 5:28 PM
    • 9 Posts
    • 14 Thanks
    SecretShopper123
    Got a planned night out this weekend and I really want a new outfit have actually put stuff in my basket online but haven!!!8217;t ordered anything, every time I!!!8217;m tempted I just log onto here to remind myself of my goal! Also got asked for another £70 towards a friends weekend away later in the year and actually said no that I didn!!!8217;t have it right now and so have until the end of June to save up for that. I refuse to put myself even further into debt just for someone else. I know I should really be saying no to the whole weekend but have already paid £120 towards it so don!!!8217;t want to lose that money and with careful planning and saving I will be good for going.
    I understand some people on here would very much be thinking if you are serious about getting out of debt then you need to stop doing these things whilst you do it and I do agree with that but I also feel there are some things you don!!!8217;t want To look back on in 10 years and missed an important event in a close friends life. As long as it!!!8217;s all paid fully and not put on a credit card then I!!!8217;m happy to go along.
    XOXO
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