A thread for people trying to pay off debt?

[moneyworries8]

Would there be any interest in this?

I'll start us off. I'm 30, a SAHM with 2DC.
Our debts are:

£4,000 loan that we've been paying off for 6 months.
£2,300 on a credit card

The debt is manageable but I've had the realisation that if something doesn't change, these figures are going to get bigger and bigger. I know it's a hard time of year to start but I don't believe in "waiting until the new year!"

We could post on here for advice/support as well as sharing our successes (and failures, but hopefully there won't be many of those) with each other. I feel like I need some people to help keep me on track.

So, is anyone interested?

https://www.mumsnet.com/Talk/legalmoneyy_matters/3564254-a-support-thread-for-people-paying-off-debt-2?watched=1&msgid=86452042#86452042

☝🏻 link to new thread 😃

Hi All. This is a great thread. I’m jumping in because writing it down here will help I think.

CC1 = 1,773.68 (min payment this month 43.34)
CC2 = 2,573.43 (min payment this month 56.58)

I usually try to pay the interest amount plus 100.

I have a CU loan that is currently approx 10,000 - can’t check it right now. The repayments are 400pm. My DD is set at 410pm so I’m slightly ahead with my repayments.

DH car is costing 411pm but it’s brand new. He was driving an older car and his tax and insurance has reduced by around 1,000 per year.

Finally (!) I’m paying 400pm for DS college fees.

Came across this thread, wondered how everyone is getting on?

Have tightened the purse strings and started a spending diary, found that has helped. To be honest with Summer hols, it's all thr little things like parking/ petrol/ snacks. Contactless have a lot to answer for!!!

On the other hand contactless leaves an audit trail far better than cash so you know where the money went