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    • Moneybear
    • By Moneybear 1st Jan 19, 10:09 PM
    • 11Posts
    • 16Thanks
    Living to be debt free in 2019!
    • #1
    • 1st Jan 19, 10:09 PM
    Living to be debt free in 2019! 1st Jan 19 at 10:09 PM
    Firstly I'd like to wish everyone a Happy New Year!

    I have been a follower of various diaries and DFW board for a few months now but have only just signed up today.

    From a young age, my mum was out of work which meant I was single handedly running the household with rent, utilities, her debts, food etc. I would alway say yes and help her out when really I was relying on debt to help. Even when I explained I had no money, she would beg me and I couldn't say no. It wasn't until moving due to work when I realised I had wasted so much money and I gained my own independence. Money is still an incredibly sensitive subject for us. I am very angry at times for her actions impacting my teenage and 20s the way it has. This makes it a very sensitive subject for me so please be gentle!

    When I left home 3 years ago, I left with 21k of debt and I was regularly going over my 1500 overdraft. I was paying the minimum payments which was only just covering my interest and I felt like I was in a dead end.

    I now live in a house share and pay 450 per month which includes all bills. The rent here is only for a room but MUCH cheaper than what I was paying outside of London. I am also able to avoid the tube as I am on a bus route to work!

    Since leaving home I have been able to reduce my debt to 8k. But most importantly for me, my overdraft is gone and I have been able to switch all remaining debt onto 0% deals which comes to an end in December 2020. This gave me much needed breathing space so I have been able to save up my emergency fund and a bit extra to earn interest on.

    I also currently have 4k in savings. I am paying off 2,500 this month from a bond which matures in a few days. The rest of it is tied up in a bond which matures in July 2019. With this and my determination over the next few months, I should definitely be able to become DEBT FREE by the end of this year!

    Unfortunately I haven't been taught good money management from family so I have relied on this forum heavily and I am incredibly thankful for it.

    I would love for this diary to help me keep on track as well as welcoming any advice/support that can be given. Over the next few days I will be putting a SOA together and will update you all along my journey

    Thank you
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    • Moneybear
    • By Moneybear 11th Jan 19, 8:28 PM
    • 11 Posts
    • 16 Thanks
    Good evening all,

    Chat with my manager was ok. Nothing too spectacular but reassurances that I am doing well. I have gone into the weekend caught up with my work so I guess I can leave happy.

    I ended up forgetting my lunch today so I went to subway for breakfast and got one for lunch later on in the day.

    I am going to spend the weekend relaxing, cleaning and meal planning for next week. I finish late Monday & Tuesday so preparation is going to be key!

    Money saving wise - I have returned a few bits I brought online over christmas which have finally arrived. I've had my refunds come through today so they should show back on my cards soon.
    • Moneybear
    • By Moneybear 13th Jan 19, 8:49 PM
    • 11 Posts
    • 16 Thanks
    Hope everyone had a nice weekend.

    I've spent this weekend relaxing and spending time with family. I haven't done much in the way of money saving but I have only spent money on groceries. I went on another date yesterday too. We had a picnic in the park which was extremely cold but it was nice chatting and not having to worry about too much.

    I have my final bit of overtime tomorrow so from there onwards I shouldn't feel so tired.

    I have my lunch ready for tomorrow so I should be able to avoid eating out and popping into shops to pass time.
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