Becoming debt free in 2018

[iammeegan]

I've decided to make a plan to become debt free in 2018.
Money and debt give me terrible anxiety which means I bury my head in the sand and it's become out of control!
So starting in the new year and I'm going to stop spending and start paying everything off.
I would love some support and people to help motivate me.
I have already worked out that I can be debt free in 14 months with some serious cut backs and forward planning.
I'm currently on mat leave but will be returning to work in March which will allow me to pay off more each month

So would anyone like to join me?

Checking in to see how you are twinkle?

Xxx

Thanks @Mummingainteasy. Still in limbo land waiting for it to start.

Moneywise, I have spent a bit on the odd coffee but haven't been going to work so that's saving money on commuting costs which is balancing it out I guess.

Well a virtual hand to hold here!!

At least you're managing to not spend lots on things! You deserve a couple of coffees if that's making you feel better xxx

Well I have joined a few survey sites and earned a few quid so far. A lot you have to wait till however many points/pounds to cash out but have downloaded an app called qmee and you can cash that straight away. Cashed out 2 pound odd and paid it off my credit card straight away. Seems silly but every little helps and it would only get wasted on crap otherwise!!

Am also planning by little boys 2nd birthday party on a (sort of) budget. Goinh to look for some balloons and banners online later. Does anyone know where does cheap helium canisters? They all seem expensive for the amount they blow up!!

Every little helps @Makingdinner!

I used to go on the survey sites a lot - I might try again. Thanks for the tip.

Hmmm, I think me and dh need to sit and make sure we're on the same page.

We are in a big overdraft and I've cut down on all unnecessary spending and have been shopping own brand items rather than brands etc. I sometimes feel I'm going without and he isn't so much!!

Finally received a cheque we've been waiting for since the end of March (I know it's only a few days really but it makes a difference it being in our bank!!!) so put that straight in the bank today!

Sitting down with dh this evening to make sure we're on the same page. I want out this damn overdraft!

How is everyone else getting on?

Well done @Mummingainteasy.

No coffee brought today, only a small top up food shop. I'm calling that a win.

Small victories twinkle!! How are you feeling?

I sat and looked at what food we had in and spent £5.50 on extras so meals are sorted from now until Saturday. Trying to use my card as little as possible!!

I'm ok thanks for asking. We started TTC for this baby in August 2016 so we're used to the disappointment.

Oh my goodness twinkledag what a nightmare.
HAng on in there on the little things and hopefully the big things will start to pan out.

I've been away for a few days so just catching up.

Welcome Echo2
Get all of the cards onto standing orders right away
then see if you are eligible for a 0% card
in which case set that on a minimum standing order (never ever a direct debit)
and then throw all available cash at the overdraft
ANYTHING that has a reducing value direct debit, switch across to standing order.
Everything else TALK TO THE LENDERS
as if they know what is going on you might be able to negotiate with them.

Actually twinkle
it might be worth you talking to lenders to see what leeway you can haggle

makingdinner
Why are you wasting money on helium balloons for a 2 year old who will never remember any of it ?
Seriously : a supermarket cake and some ordinary balloons is fine

when he is old enough to express an opinion, THEN start budgeting for parties

Thanks @TalkinPeece. I don't think I need to speak to lenders just yet. We are comfortably able to pay (and overpay) and all the debt is on 0% interest. I'll keep chipping away.

2 year olds prefer regular balloons anyway, easier to play with. Helium look pretty but rubbish to play with.

Hey lovely ladies - I’m trying to set up a standing order for my cc to change from dd, but there is a whole list of info that it wants me to enter (sort code blah blah) - where do I get this info from? My dd instruction just gives the company name Virgin) and credit card number... is there a truck to finding this info? The FAQs just say get it from the company you want to pay, but I’d rather not call them unless I have to!

Mamar
Do you have online banking ?
Then you can set up a standing order.
The bank details to pay the credit hard have to be on the statement (by law)
Sort code and account number (they will be clearly on the payslip on the statement)
your own account number is the reference

set up the standing order for the day before the direct debit
and then cancel the direct debit
DO NOT talk to the card company
it is NONE of their business how you choose to pay the bill

Do you still get statements? I’ve got those details on the back of a statement before under ‘ways to pay’ because I use online banking to pay my Next account and the amount I pay changes each month.

X post! Sorry

S/he explained why. It’s because the direct debit will always be for the minimum amount which means you never pay the bill off. Standing order means the same amount is paid each month and the balance and interest will come down much quicker.

Georgie
I'm a she

gardengeek
Go to the credit card spreadsheet and put your numbers into it .... you will very rapidly see the difference a standing order makes over a direct debit

Thank you. Sorry for not being sure. It was easier than guessing and getting it wrong