i couldn’t decide which topic to post this in but as it’s mostly money oriented I thought it would go here.
not sure if anyone wants to join but I am starting a bit of a life overhaul, I have recently finished uni and secured myself a decent job. Pay isn’t fabulous mumsnet style but more than double I’ve ever earned before with some great potential to work up.
I am edging close to 40 and feel like I really messed up my life when younger and it’s taking me a long time to get it right. I was a single parent from my early twenties but now have a long term partner and second child. Home life wise everything is great.
I have around 4k of debt which I really want to focus on and pay off as quickly as possible,
i need to learn to drive and lose around a stone weight wise and generally be healthier so targets in a lot of areas
i feel like everyone around me at this stage in life has wonderful careers, owns their home and are so stable money wise and I have been floundering and just bobbing along so I would really like to change that.
my aim is that by 45 I can look back and realise I’ve achieved all these, the main one being bringing my debt under control.
I checked my credit score today and it is horrific, it’s really given me the push to work hard to turn things around
i can be a bit of an impulse buyer although now I’ve changed jobs I don’t have as easy access to shops through the week and not much time so that is helping.
It’s my first payday next week so I am hoping to try and sort my bills out and see what I have left afterwards to make a plan with.
if anyone would like to join me or has any tips or advice then feel free.
I am unsure of how to approach the debt. I quite like the Dave Ramsey method of paying them off from smallest to largest but then wonder if spreading the money I have across them all so they all start to reduce may be better or paying off first the ones with the highest interest or monthly payment?
I will see how I get on over the next few weeks I guess and update (even if it’s just for myself) as I go