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  • FIRST POST
    • Poppy1984
    • By Poppy1984 3rd Dec 19, 12:15 AM
    • 333Posts
    • 765Thanks
    Poppy1984
    Debt free before August 2023
    • #1
    • 3rd Dec 19, 12:15 AM
    Debt free before August 2023 3rd Dec 19 at 12:15 AM
    As the title says really, my debt free date is August 2023, however my aim is to beat that!

    I've ummed and aah'd over starting this diary, I need something to give me a boost and some accountability, but I don't really think I have anything interesting to say.

    My debt is large (smaller than it was) and is taking a long time to pay back, I'm feeling low quite a lot lately and have slipped up a little with extra little spends here and there I think because I'm feeling so restricted and I know that's going to go on for a few years to come.

    My debts are listed in my signature but I will list them again here:

    Feb 2018:
    Next account 815
    Very Account 1,600
    Tesco Credit Card 1,600
    Loan 26,522

    Total 30322

    Now: loan 18,600 fixed payment 456 a month

    My debt built up by overspending, keeping up with the Jones's, buying a house and furnituring the house, robbing Peter to pay Paul, buying on buy now pay later, not paying it back in time before the interest was due to go on, panicking putting that on a 0% credit card, not paying that back in time, constantly shifting the debt around like a fool whilst continuing to live beyond my means and building more debt, I also consolidated twice, hence the big loan. The first time I consolidated I did what everyone on here says you'll do and I kept the cards and catalogues and let it all build back up again. I'm deeply ashamed of myself but I have well and truly learned my lesson!

    I have reduced my outgoings as much as I possibly can and cut my spending down as much as possible. Ideally I'd like to get a better paid job so that I can over pay that loan and get it down quicker but I've interviewed for a couple and sadly had no luck so far.

    Anyway that's it for now, I guess I just kind of wanted somewhere to vent and share my feelings about being in debt and paying it back.
    Last edited by Poppy1984; 03-12-2019 at 1:43 PM. Reason: error
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
Page 2
    • Poppy1984
    • By Poppy1984 18th Dec 19, 4:48 PM
    • 333 Posts
    • 765 Thanks
    Poppy1984
    Me too, I end up waffling a lot but I don't think I'd be anywhere near where I am along my journey without having a diary bonus on the cashback x
    Originally posted by SSDD23
    Thanks for popping by I'll check your diary out when I get chance. I tend to start reading dairies then get a bit lost of where I'm up to lol
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
    • Poppy1984
    • By Poppy1984 21st Dec 19, 11:56 AM
    • 333 Posts
    • 765 Thanks
    Poppy1984
    Feeling a bit more positive on the debt front. Bought all Christmas gifts with cash no credit (I only buy immediate family) but there's also my sons birthday in December so it seems like I spend a lot but it's for both birthday and Christmas.

    In the past I would have put things on credit card, next account, very account and used my over draft so I'm pleased that I can now do it purely with cash I have saved all year long.

    I'm still aiming to over pay my loan by 198 by 15th Jan. Another 131 to go, I'm waiting for my shoppix account to build up so I can cash out 20 and I'll use that as an over pay, not too far off now. Running out of ideas of how else I can over pay but I'll keep trying. Prolific has dried up a little for me so don't think I'll get much more from that to use as an overpay.

    I did a big Aldi shop last night so I'm going to do some batch cooking today.
    One of the main ways I've reduced my grocery shopping money while paying my debts off has been by Meticulously planning, I firstly do an inventory of my cupboards, fridge and freezer. I then plan what meals I can make from what I already have in stock and what extra ingredients I need to buy and any other meals I want to make for each day. Then make my list and stick to it.
    I must admit I HATE doing it but it's the only way I can save lots of money but make sure we still eat well. If I don't do it I end up over spending.

    I also find batch cooking and freezing meals really helps me keep my grocery budget low. It's just a lot of effort but I always feel better when I do put the effort in.

    Off to think of some extra ways I can find some money to overpay the loan with....
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
    • doingitanyway
    • By doingitanyway 21st Dec 19, 12:12 PM
    • 5,038 Posts
    • 32,101 Thanks
    doingitanyway
    Great step, buying with cash instead of credit. These are steps that will not only get you DF but will become habits that keep you DF.

    I agree with you re meal planning. I kind of hate it too but it is the best in terms of reducing my ad hoc food spends and keeping the grocery bill low. Most of my overspending happens on groceries, or shopping for snacks and meals when I haven't got any food from home with me. The other plus is meal planning is better/healthier eating!

    Oh you asked about the sod it fund. Whatever you can afford, but pay it to yourself as soon as you get paid. I used a CU account. I also had a mini fund in a jar labelled sod it and that was just 5 a week.

    You are doing great
    If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them.
    • Poppy1984
    • By Poppy1984 21st Dec 19, 1:30 PM
    • 333 Posts
    • 765 Thanks
    Poppy1984
    Great step, buying with cash instead of credit. These are steps that will not only get you DF but will become habits that keep you DF.

    I agree with you re meal planning. I kind of hate it too but it is the best in terms of reducing my ad hoc food spends and keeping the grocery bill low. Most of my overspending happens on groceries, or shopping for snacks and meals when I haven't got any food from home with me. The other plus is meal planning is better/healthier eating!

    Oh you asked about the sod it fund. Whatever you can afford, but pay it to yourself as soon as you get paid. I used a CU account. I also had a mini fund in a jar labelled sod it and that was just 5 a week.

    You are doing great
    Originally posted by doingitanyway
    Thank you for your message and support doingitanyway. I really like the idea of a f*ck it fund hehe! I think it would definitely help when I'm feeling a bit restricted and fed up.

    Not really sure how much I could realistically justify putting aside for the f*ck it fund. Maybe 5 a month I could get away with but that would take quite some time to build up. I don't know if I could stretch to 10 a month.... but I'll have a think.
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
    • doingitanyway
    • By doingitanyway 21st Dec 19, 6:03 PM
    • 5,038 Posts
    • 32,101 Thanks
    doingitanyway

    Not really sure how much I could realistically justify putting aside for the f*ck it fund. Maybe 5 a month I could get away with but that would take quite some time to build up. I don't know if I could stretch to 10 a month.... but I'll have a think.
    Originally posted by Poppy1984
    In the beginning I only had a pound or two shaved off my usual budget. Walking when I could have taken a bus for example, or YS shopping giving me a few pounds extra in my food budget. It soon adds up and it enabled the odd treat that was a lifesaver. A mini bottle of wine and some posh crisps paid for from the sod it fund often saved me from throwing in the towel. It doesn't have to be a mega treat to get you back on track. I also boosted the fund by selling bits and pieces
    If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them.
    • Poppy1984
    • By Poppy1984 22nd Dec 19, 8:55 PM
    • 333 Posts
    • 765 Thanks
    Poppy1984
    I've been busy batch cooking, made 14 portions for the freezer so quite pleased with that.

    Doingitanyway I'm going to have a think about starting the f*ck it fund.

    Haven't managed to make any more loan overpayments yet. Nothing much else to report in the debt busting front really.
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
    • Poppy1984
    • By Poppy1984 23rd Dec 19, 4:18 PM
    • 333 Posts
    • 765 Thanks
    Poppy1984
    Woooop! Received some cash back from topcashback, so I've just made a loan overpayment of 10.24 bringing the total to over pay by 15th Jan done to 120 really chuffed with that. Should hopefully be able to raise that by then which will bring me below 18,000 before my next contractual payment is taken on 16th Jan.
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
    • Poppy1984
    • By Poppy1984 1st Jan 20, 3:39 PM
    • 333 Posts
    • 765 Thanks
    Poppy1984
    Well another new year and the debt busting continues. Hoping to get a huge chunk paid off this year. If I could get my total debt down to 10,000 by the end of December 2020 that would be absolutely incredible! That would mean paying back over 8,000 in a year though so not impossible but not easy either!

    So I do believe I have just set myself a 2020 challenge!

    I'm still waiting on a few more receipts to get to enough on shoppix to cash out 20 probably about 15/20 but haven't been buying much so haven't had many receipts to scan.

    I've just downloaded another app thanks to reading in uniscots97's diary called Zipzero, it's another receipt scanning app but rather than being able to cash the money out you can use it towards your utilities direct debits.

    I popped in Aldi the other day and just hit the right time for bargains, lots of meat and chicken had been reduced to half price so I stocked up the freezer. This will definitely help me to reduce my food shopping costs over the next few weeks.
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
    • Poppy1984
    • By Poppy1984 5th Jan 20, 3:48 PM
    • 333 Posts
    • 765 Thanks
    Poppy1984
    Well not much to report here, waiting fo pay day (15th) I'm still waiting on the shoppix app to be able to cash out the 20 bit long now. I'm not going to reach my goal of overpaying my loan by another 120 before the next payment goes out on the 16th. I think I'll def pay another 20 once shoppix let's me cash out, but have no way of raising another 100.

    I'm exhausted today, not sure why! Absolutely dreading work tomorrow, even though I worked last week but it was quiet as a lot of ppl were on leave still tomorrow will be the first day everyone's back in and a full week as I was off last wed.

    I need to organise what I'm taking for lunches i meal plan a lot but I hate hate hate planning for work lunches, im fine planning for evening meals and weekend lunches but always have a mental block when it comes to work lunches, I can never think of what to take.

    I gave myself a break over Xmas on the job hunting front but I need to get back into that now. It's rubbish because I do like where I work and my colleagues but the wages are low and there is no room for progression so I'm looking for something better paid.
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
    • Poppy1984
    • By Poppy1984 7th Jan 20, 4:42 PM
    • 333 Posts
    • 765 Thanks
    Poppy1984
    I hate waiting for pay day! This is when I start to feel frustrated and bored with the journey because there's nothing happening. I haven't managed to over pay as much as I was hoping to but never mind I can make a new goal for next month.
    I'm going to try and have a frugal month I say month but mean between 15th Jan and 15ht Feb between pay days.


    I've got quite a lot of food in the freezer so hoping to not spend too much on food shopping. I have two social events planned one on the 25th Jan and one on the 8th Jan so they will need to be budgeted for out of that months budget but I will try and keep them to a minimum spend.


    I need to have a look around the house and see if there is anything I can list on ebay. Other than that I can't really think of any other ways to raise any additional money.


    My emergency fund is down to 0 so I need to concentrate on building that back up to 300 before I make any more loan overpayments.


    Really struggle when its like this I just want to get it all paid off as fast as possible and I feel like I'm not doing enough to make that happen.
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
    • SillyBovary
    • By SillyBovary 7th Jan 20, 5:26 PM
    • 12 Posts
    • 29 Thanks
    SillyBovary
    Well I think you're doing really well! I have pretty much the same level of debt and you're inspiring me.

    I'm waiting for January 15th for pay day too and I'm hoping to pay off a 150 overdraft, and over pay my smallest credit card.

    I'm a terrible spender - mostly on days out with the children.
    • Poppy1984
    • By Poppy1984 7th Jan 20, 6:48 PM
    • 333 Posts
    • 765 Thanks
    Poppy1984
    Well I think you're doing really well! I have pretty much the same level of debt and you're inspiring me.

    I'm waiting for January 15th for pay day too and I'm hoping to pay off a 150 overdraft, and over pay my smallest credit card.

    I'm a terrible spender - mostly on days out with the children.
    Originally posted by SillyBovary
    Aw thank you just to hear I'm inspiring someone has gave me a little boost. Good luck with paying your overdraft off and your overpayment to the credit card.
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
    • Poppy1984
    • By Poppy1984 10th Jan 20, 11:39 AM
    • 333 Posts
    • 765 Thanks
    Poppy1984
    Woohoo finally cashed out 20 on shoppix so I'm going to over pay that on my loan meaning I have over payed by 97 ok not the 198 that I'd aimed for but considering it has been Christmas I'm quite pleased with that. That means my debt total is 18,100

    I've got 5 built up in prolific and 3 on zipzero. I think I'm going to let both of them build up to 10 before cashing the prolific out and using that to overpay my loan and with zipzero I'll pay it towards one of my direct debits not sure which one yet and use the money that would have paid that to over pay the loan. I'm new to zipzero so haven't cashed anything out yet so a little unsure about it at the moment.

    Nearly pay day! I've got about 45 left until pay day (15th) so that's not too bad. I think if there's any money left by 14th evening I'll use that to over pay my loan before I get paid on 15th.

    I'm not going to make any overpayments this time, I think I'm going to concentrate on refilling my emergency fund which currently stands at 0 and then once that's back up to 300 I'll go back to loan overpayments.
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
    • Eyebright
    • By Eyebright 13th Jan 20, 6:50 PM
    • 950 Posts
    • 4,953 Thanks
    Eyebright
    Hi Poppy,

    Popping in after seeing you comment on Frank's diary earlier. Your diary could literally be my story too, I'm in 18600 worth of debt for basically the same reasons as you. I got myself in a mess a few years back, and in December I had my LBM. I turn 40 in 5 years time, so my goal is to be debt free before then.
    I have a consolidation loan with my credit card debts too!
    My first goal to clear my 125 O/D, then start overpaying the loan and save up for my EF and the various sinking funds that I need to ensure I don't need to ever put anything on a CC again!

    Good luck, I'm subscribing xx
    POAYDBX 2020 #? 20/4000
    1 debt vs 100 days #14 20/1000
    Saving for Christmas 2020 0/500
    EF Saving 145/500
    • Poppy1984
    • By Poppy1984 13th Jan 20, 10:58 PM
    • 333 Posts
    • 765 Thanks
    Poppy1984
    Hi Eyebright
    Thanks for popping by and subscribing.
    Oh wow we are in the same position! I'm also 40 in 5 years, well 4 and a bit now actually, and want the debt got before then!

    Good luck clearing your overdraft, that shouldn't take long?
    Do you have a budget that you can follow? I stick to a very strict budget it's very boring BUT it works. I find posting an SOA's on this forum is a good way to get a budget streamlined.

    I have those sinking funds you've mentioned set up. I have Christmas, holidays, school uniform, MOT &car tax, I even have a new glasses fund as these are things that I should be expecting and that don't come out of the blue!

    However my EF has taken a battering so I need to focus on building that back up before I can continue making overpayments on my loan.

    Have you got a diary I can follow?
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
    • Eyebright
    • By Eyebright 14th Jan 20, 2:20 PM
    • 950 Posts
    • 4,953 Thanks
    Eyebright
    I just created one! Hoping it will be keep me focused and accountable !

    I'm hoping to clear the OD by the end of this week, though it's a bit bigger than I initally thought as a payment hasn't gone out yet that I didn't account for. I've hopefully sold something, which will be collected tomorrow and paid for, netting me 200, which will clear the O/D and leave me with some pocket money to keep me out of the O/D until payday! And also hopefully the start of my EF, I don't have one, and if I want to keep from adding to my debts then I'm going to need one!!!!
    POAYDBX 2020 #? 20/4000
    1 debt vs 100 days #14 20/1000
    Saving for Christmas 2020 0/500
    EF Saving 145/500
    • Poppy1984
    • By Poppy1984 14th Jan 20, 10:56 PM
    • 333 Posts
    • 765 Thanks
    Poppy1984
    Well it's pay day tomorrow and I have 35.94 left in my current account so I going to transfer that into my EF and that can start me back off. I'm aiming to get it back up to 300 before I start overpaying my loan again.

    I always find the couple of weeks before pay day the hardest, so I'm exciting for the start of a new "month" my month runs 15th-15th because of pay day.

    I'm aiming to have at least 10 in my prolific acc and 10 in my zipzero account this month. I also really need to list some stuff on ebay I've been so lazy with that recently, I find it quite stressful but I really must do it!

    Going to try and keep my groceries spends under budget (I budget 200 a month for all food and house cleaning products etc. This includes pack lunches for me and my son and extra food at the weekends when my partner stays.) any money left over from that budget will go straight into the EF on the day before pay day, I think I get paid on the 14th next month.

    I budget 200 for anything else that does not fall into food, household things, bills and savings. This includes things my son needs and any leisure activities socialising etc for both of us. This is my secret weapon for debt busting as every month I try to spend as little as possible of it and any left overs I can use as overpayments or for my EF. I do have two nights out planned one at the beginning and one at the end so I will need to use a bit of it but hopefully not too much.
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
    • Eyebright
    • By Eyebright 15th Jan 20, 8:26 AM
    • 950 Posts
    • 4,953 Thanks
    Eyebright
    Good idea having that 200 for miscellaneous spends that can crop up unexpectedly every month.
    I hate ebay too, I usually wait until I get an offer for 1 max selling fees then list what I've set aside then, to try and help maximise my profits from what I'm selling.
    POAYDBX 2020 #? 20/4000
    1 debt vs 100 days #14 20/1000
    Saving for Christmas 2020 0/500
    EF Saving 145/500
    • Poppy1984
    • By Poppy1984 15th Jan 20, 5:45 PM
    • 333 Posts
    • 765 Thanks
    Poppy1984
    Thank you, it works for me. I work with a zero budget so every penny is allocated. I use spending tracker on my phone I have 3 accounts on there a bills account where all my direct debits and standing orders for savings are tracked. A shopping account which I track my 200 groceries spending and a "spending money" account where I track the remaining 200 petrol money, spends for my son, miscellaneous spends are all tracked there.

    I find if I don't record every spend on my app I can end up overspending so it's best to keep track.

    It's surprising how fast that groceries budget can go down though especially if I need to buy washing powder or things like that it soon eats into the budget!

    Speaking of which I really need to do a kitchen itinerary and a meal plan/shopping list to get some shopping for the rest of this week and next. Did I mention I HATE doing this? Lol I really do but it's the only thing that keeps me on track.

    EF is up to 45/ 300 now would love to have this at 200 by next pay day
    19-02-18 Total Debt 30,322: Loan 26,522, Next 815, Very 1600, Tesco Credit Card 1600
    Loan 17,697 remaining Original DFD Aug 2024 New DFD Aug 2023
    • Eyebright
    • By Eyebright 15th Jan 20, 6:09 PM
    • 950 Posts
    • 4,953 Thanks
    Eyebright
    I'm definitely going to look into YNAB/other budgeting/spend tracker apps, as this is an area I definitely need to pay close attention to.

    Well done on the EF, it's building up nicely!

    I've got my meal plan for this week, though I haven't allocated a particular meal to any set day, I'll just cook off the list whatever I fancy. It's a work in progress area for me to, I go blank when I sit down to plan our meals for the week, and I need to get better at utilising what's already in the cupboards/freezer etc...
    I'm making a chicken korma for dinner tonight, with rice and some frozen pakoras that I found in the freezer that I bought for the festive period and didn't use!!
    POAYDBX 2020 #? 20/4000
    1 debt vs 100 days #14 20/1000
    Saving for Christmas 2020 0/500
    EF Saving 145/500
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