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    • Broke Bear
    • By Broke Bear 2nd Sep 18, 4:28 PM
    • 14Posts
    • 55Thanks
    Broke Bear
    Oh pants I messed up BIG!!!
    • #1
    • 2nd Sep 18, 4:28 PM
    Oh pants I messed up BIG!!! 2nd Sep 18 at 4:28 PM
    Ok so I have been lurking in a major way for the last 2 weeks after having my lightbulb moment. I have had a pretty rough 2 months and lost both of my bears (labradors) in quick succession (they were both very old for labs) and then I had a minor breakdown over everything and my finances came bubbling out to my OH after the vet bills.

    Now It has sunk in that everything is out in the open and he has not run away, for which I am eternally grateful, I can put a plan in action to get the big scary number gone for good.
    Ok so here are the starting scores on the doors as of 01/09/2018:

    B - 10,531.80
    T - 6,776.15
    M - 6,422.11
    V - 5,462.32
    L - 25.89

    Total - 29,218.27

    How did I get that far in debt?? I honestly didn't think it was that bad until I put all cards on table (literally) with OH!

    We have gone through income and expenditure and have a plan of action for the next 12 months or so (0% BTdeals the above cards are on) but I thought it would be good to document my journey as a reminder for future debt free me. It is my mess and I will not let my OH pay towards the debt, not even one penny. It is my stupidity and I should feel every painful penny of paying it back, I will never be this far in debt again!!
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    The only way for this number to go is down!!
Page 2
    • Scott-Weiland
    • By Scott-Weiland 10th Sep 18, 2:56 AM
    • 255 Posts
    • 549 Thanks
    Good luck on your journey

    One question have you done a full Soa? You could post it here so we could tweak it slightly maybe.
    Cashback Earnings Ish YTD 73.22 Survey Earnings YTD Ish 434.59
    "We are what we repeatedly do. Excellence then, is not an act, but a habit."
    • Broke Bear
    • By Broke Bear 10th Sep 18, 7:25 AM
    • 14 Posts
    • 55 Thanks
    Broke Bear
    I haven’t done one yet, or rather not one I’m happy with yet for posting. Once I have a month or two of actual figures for where my money goes i will post one up for tweaking. The scales really did fall from my eyes and it will take a little time to get a full and accurate picture of what I need to survive this journey.
    The only bit of my outgoings I am sure of the exact figures for is the debt and how much I have ringfenced to get it gone!!

    SOA will hopefully be available soon thanks Scott
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    The only way for this number to go is down!!
    • Scott-Weiland
    • By Scott-Weiland 10th Sep 18, 12:21 PM
    • 255 Posts
    • 549 Thanks
    If you do not want to post it here it is fine my only advice would be too be honest with yourself once you have put it together.

    I have put a few examples below all of these can help boost disposable income and those little tweaks will get rid of your debts quicker. I see a few mistakes people make the first is overspending on non essentials/the next is over spending on utilities. Having a 90 pound sky tv package is fine if you can afford it as an example.

    Do you need the latest smartphone, could a sim only contract be an option when its mobile phone renewal time.

    Next join Topcashback and anything you buy online see if the website is on there. I have being on there a year or two and i have clicked nearly 700quid. Just eat/ebay/gocompare/waterstones etc etc are all on there.

    Next relates to above re all your insurances/utilities/mobile phones/etc have a look at gocompare via top cashback. I recently switched in the last 6 months a friends car insurance and broadband and i clicked about 80quid in cashback.

    Also do you really need that 30quid pet insurance policy surely just saving the 30quid would be a safer option.

    look at things like sky/or virgin media etc and see if you could get better deals elsewhere eg nowtv or netflix i saw another poster recently binned sky's tv package and save themselves 35 pounds a month. Even if your under contract ring them up say your in a bit of financial difficulty you dont have to give them the details and ask if they can do you a better deal. I did this recently with EE and go 7.50 off my mobile phone bill for the last 6 months of my mobile phone contract

    is there an option to declutter ie ebay,,, music magpie,mazuma mobile etc etc etc

    Also research too see if you could save funds with petrol or diesel by using a nectar card or a tesco clubcard.

    finally check out doing online market research surveys there is pages on the forum. (see my signature)
    Last edited by Scott-Weiland; 10-09-2018 at 12:31 PM.
    Cashback Earnings Ish YTD 73.22 Survey Earnings YTD Ish 434.59
    "We are what we repeatedly do. Excellence then, is not an act, but a habit."
    • Thistlewhistle
    • By Thistlewhistle 10th Sep 18, 12:49 PM
    • 1,083 Posts
    • 7,401 Thanks
    Happy new diary BB,

    You asked about the order in which to tackle things....

    The snowball way is fantastic as it tackles the highest interest bearing debts first but depending on how your brain works, sorting out the little balances can be a good approach too as it makes you feel like you're moving forward more quickly, even though in the long run it may cost you more money. It can help you free up a credit card too so that you might be able to take advantage of switching an interest-bearing debt onto that freed-up card at a 0% or lower % interest. Bear in mind that there will most likely be a fee for this (usually about 3% of the debt transferred) - you'll need to do the sums to see if it's worth doing.

    I managed to get all my CC debts onto 0% by doing this and it's definitely saved me a fortune in interest and I now know that ALL my payments are clearing the debt and not paying interest.

    I now only have one CC debt (albeit a large one) but it is all at 0% until June 2020. The goal setting aspect of YNAB is a great help in assisting me to sort all this out by that date and I'm on track to achieve it too.

    Good luck!!

    Last edited by Thistlewhistle; 10-09-2018 at 12:51 PM.
    Mortgage at end 05/2007: 90200
    Mortgage at end 08/2018: 71646 paid 18354 (20.5%)
    MFD: Original:05/2042
    Car Finance: 8225 : 6392 (22.2% paid off)
    CC Debt (0% until 06/2020): 5640 : 4400 (21.7% paid off)

    Age of Money at 31/08/2018 = 23 days

    YNAB is changing the way I live my life....and spend my money!!
    • enthusiasticsaver
    • By enthusiasticsaver 10th Sep 18, 8:00 PM
    • 7,055 Posts
    • 15,267 Thanks
    I think you should tackle the highest charging debt first. The BC 2163.47 at 17.68%. Once that is gone tackle the shortest deal which is T at 1069.

    Don't ignore savings for emergencies so you are not tempted to use the cards again.
    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 Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to
    • LullaBelle
    • By LullaBelle 11th Sep 18, 4:40 PM
    • 143 Posts
    • 142 Thanks
    Happy new diary!

    My debt is a similar amount to yours. It is slowly coming down but the main thing is that it is coming down and I am not getting into any more debt. I'm hoping to be debt free in about 4 years. Fingers crossed. Good luck with the debt busting!
    Virgin 4892.50/ 4630
    Loan 16587.87/15462.48
    Sofa 1100 / 786 DH Virgin 6550 /5883.20
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 26761.68
    • Broke Bear
    • By Broke Bear 14th Sep 18, 8:40 PM
    • 14 Posts
    • 55 Thanks
    Broke Bear
    Thanks everyone for taking the time to read my little journey, I will be glad of the company as it will be a marathon to get this gone not a sprint.

    OK so the scores on the doors are in for my first month paying down my debt, all new statements in and accounted for:

    M- 6,346.98
    T- 6,676.15
    V- 5,296.32
    L- 0

    1.75% paid off
    76% utilisation

    I just need to make it to the end of September on the pennies left in my account and I will have completed my first full MSE month.... It is going to be tight but doable (not that I have a choice!!)

    I will update my signature at the end of each month I think as that will be the final month figures with any left over budget accounted for...left over budget... wishful thinking but even a penny left over is a penny off the BSN.

    Not doing so good at the NSD's, still on 6/20 it is possible I may have to revise this or do I still leave the target at 20 and look to do better next month? I guess it didn't help that I was away for work this week so spending was unavoidable but I will get that back on expenses with a little extra to go towards the BSN hopefully.
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    The only way for this number to go is down!!
    • Broke Bear
    • By Broke Bear 17th Sep 18, 9:10 PM
    • 14 Posts
    • 55 Thanks
    Broke Bear
    Well that is another 2 NSD's to add- now on 8/20. Had a very wobbly weekend with the tears etc, just don't seem to be able to stop crying when I think of my bears. I miss them soooo much and I keep thinking of what my older one got me through. I literally would not be here if it wasn't for her. I know it will get better but it seems like I have a very long road ahead of me, can't quite see the light at the end of the tunnel yet but will keep moving forward and hope it has not been switched off due to cutbacks!

    On the upside it looks as though when I am sad I cook... the freezer is now very well stocked with home made meals and I have the ingredients to make more just not the room in the freezer! Meals list made so far:
    12 soups - 3 different varieties
    4 lasagnes
    4 sausage casseroles
    4 cottage pies
    Sausage pie - 8 individual portions
    Apple pie

    All made in one day! We are still within the food budget for the month and have almost enough meals to last
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    The only way for this number to go is down!!
    • Broke Bear
    • By Broke Bear 18th Sep 18, 9:15 PM
    • 14 Posts
    • 55 Thanks
    Broke Bear
    Somewhat more positive today, almost another NSD but i did give in to the tuck box in work ... a bag of crisps and a tube of smarties for the grand sum of 80p
    I thoroughly enjoyed them!!

    Came home and did cottage pie and veg out of the freezer for me and OH. I am loving this having easy dinners, must do this batch cooking again and expand the freezable repertoire.

    Sooo looking forward to updating my signature at the end of the month with the new figures though I feel a bit daft making myself wait until then but a lot can happen in 2 weeks and it will help to keep me focussed as I want to post the good progress seen when the statements came in. I think I have been bitten by the dfw bug!! ��
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    The only way for this number to go is down!!
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