9 months to debt free

[bridgewateremma]

Hello!

Some of you may remember me, I was a regular on the No Spend 2023 thread, where I was trying to pay off £9k debt in 16-18 months. Here we are 17 months on and I need some help to get to the end. Initially, over the first 9 months of so of 2023, I did really well, but I have not been as good over the last 8 months or so and I just want it paid off and I can move on! I need to remortgage at the start of February 2025, so sorting this out is now imperative.

My debt total is now slightly over £5k, which is annoying, but the truth. I have recently realised I'm in a terrible habit of paying off my target to the debt at the start of the month, but then using the same card to pay for things later in the month when I've no money left - this is a combination of having a potentially unrealistic target of money allocated towards debt but mainly simply not reining in my ongoing spending - too many lunches out, takeaway coffees and too much saying "yes"!

I feel like its been a hard slog to now but realistically I have gone on 2 x big holidays (held over from covid, kind of unavoidable) and I've also changed career over the last year, meaning lots of family and lifestyle changes, but I'm into the new rhythm now. Therefore I have really let my commitment to the debt repayment slide over the last few months. The cost of living crisis hasn't helped matters, of course, but I am acutely aware of my own failings.

Anyway, this thread is not about looking backwards, but getting to where I need to be and I realised that what was missing from the last few months was somewhere to post my ongoing progress - ups and downs; which I'm hoping I can do here. I've found I really need a thread/some accountability to help me stay focussed.

Today's totals 31/5/2024 = £5,056.00

• I've paid off £300.00 today already (the above figure takes this into account) and plan to pay off another £300.00 during June
• Likewise, I am aiming to pay off £600.00 per month between 30/06/24 and 31/1/25 (8 x payments) - most of the debt is interest free
• I have some extra work booked and some overtime in my main job which will help over the next few weeks
• I am not (for now) looking at family spending - although I will try to be frugal here - this is not my main focus just now. Food, clothes etc are not counted here - the debt and the spending I am focussing on is in my name and the repayments come from my personal spends

My main issue is reining in the spending. I have really lost my focus and seem to be careful with some things and spendy with others. I need to get creative with treats and birthdays again and try and just knuckle down for the next few months. Its like I can see this star in the distance, reach for it and it keeps getting further away. I don't want to live like this forever, I want to have money to myself again, but stay within realistic limits and spend what I have, get out of the debt cycle.

So this weekend. Tomorrow I would like to take my children out so I'm thinking of a trip to the beach - ham rolls, strawberries and crisps. We are coastal so its only a 10 minute walk away or we could drive to a nicer one a short distance away and we have a car park pass which is already paid for. I'm working a 12 hour shift on Sunday so won't spend then. I'll take some food to work with me then have my tea when I get home in the early evening.

Encouragement is welcome but I'm equally happy to talk to myself, I just need somewhere to post my progress and somewhere to be accountable.

So, here goes! £5k to go!

Thank you @Harassedevictee, I really appreciate the support.

Another NSD yesterday (now 6 x since 28/6).

I usually spend about £30 on birthday presents for friends and family. I wouldn't dream of paying £75 for a picture frame when you can get something from somewhere like IKEA or Amazon for about £30.
Gifts are lovely but it is the though and the time and care over picking something rather than the cost which is important.

I am also really shocked that your husband let you give him £100 for his birthday present when you are trying to pay a debt off. No idea how finances are set up in your household but surely it is his debt too?

Sounds like gift buying is a real struggle for you. Would it help to think of the favourite things you have been given? Are they all pricey things?

7 out of 11 NSDs since 28/6 (payday) and I was paid £115 yesterday for a small side hustle which has boosted the coffers! I've paid £50 of that to my c/c. Although I have more, I don't want to pay too much to the c/c this early in the month, especially during the school holidays, as then I will potentially leave myself short for the end of the month.

I am back to work on Friday which will make things easier. I can then sail through a few NSDs over the weekend, fingers crossed. It is quite a sad way to live, looking forward to being back to work to curb potential spending and I'm quite down at how little l've done with the kids so far but needs must and I'm trying to appreciate the walks and the cuddles instead. I think I might plan a cheap day out tomorrow or next week so I've something to focus on and I don't feel like I'm wasting my time off work.

£5 spent yesterday at the local reuse store, on some shelves I'm going to upcycle for my kitchen. I have the chalk paint already. I am happy about this spend, I need a project. I've been looking at similar finished for >£100 on etsy and although this will be a bit rough & ready and not as perfect, I will have made it myself.

I think the weather might help me to save some money today, it's raining and this will undoubtedly scupper my half arsed plan to take my youngest out for the day.

£190.98 is my total spend this month so far:- £130.00 of this on gifts as detailed in precious posts and £60.98 on swimming, snacks, work tuck shop etc - this is pretty good for me considering it's the summer holidays, usually involving pricey days out! I have had 12/19 NSDs, which I am really chuffed with. I have £100.00 left in my bank to last the next fortnight and I am aiming to put half of that (over target) to the c/c and spend £50.00 on misc. This would seem a lot easier if it wasn't the summer holidays! Work/school days are so much easier to keep low/no spend!

I'm off to make some muffins for work tonight (night shift), to share with my colleagues.

Progress step by step 🙌

A spendy day yesterday - £42.02 spent on a family day out on rides & ice creams. I know I sound about 95 years old however I just can't believe how much things cost nowadays.

I've paid my target to the c/c this month so now have to manage the rest of the month (11 days) on >£20.00! This is a real danger point for me, so I need to try my hardest to stick to this. It's my eldest birthday next week but that comes from a different budget, luckily!

Posted too soon!

Despite the above spendy day yesterday, I am happy to report 15/23 NSDs since payday. My spending this month totals £233.00 exactly (£130.00 gifts/£103.00 other). I am hoping for a few NSDs this week. My kids and DH are away from Thursday so I can be really frugal then.

My debt balance is now £3,499.00, yay! 7 months to go.

Through no effort on my part (someone emailed me out of the blue), I picked up some side hustle work yesterday, which should net an easy £100.00 or so profit for not much work, very pleased about this. I won't properly allocate it until the work is completed and I'm paid, but they have been quick and reliable to deal with in the past.

Hi I'm here to join you again.

I am terrible at day to day budgeting but it sounds like you have got it mastered.

I've managed to build up a small emergency pot which should stand at 1k come next payday.

28th is payday and I am making a large payment on credit card 2.

Today should be a no spend day.

Little saving yesterday- I needed to buy some makeup and I found the cheapest website and got a 10% discount, so saved £12 off £35. It's only makeup I'm allowing myself (under eye colour corrector) this year!

I owe £6,993.

I am going to make ongoing micro transfers to the credit card every time I make a little saving and keep selling things on Vinted and FB Marketplace as this has gone well. I may do a car boot at the end of the Summer.

@gymgoals2024, lovely to hear from you! Are you making the large payment to the c/c today? I'm assuming you got paid before the weekend. How much are you paying? Well done on the emergency funds! Savings are first on my list after this bloody debt is gone! How has this week been for you?

I have been super frugal with my own cash and managed to only spend another £1.50 this week at the work tuck shop (tins of juice only 50p each, much cheaper than anywhere else!). I am now up to 19 x NSDs since payday! My family are away now and I'm chilling at home today before a night shift & don't plan to spend anything over next few days. I have around £20.00 left in my account and plan to buy my daughter a treat Starbucks on Tuesday during an afternoon together and then m-a-y-b-e, I'll be able to carry some pennies over to August, wonders will never cease!

We have an expensive few days coming up as a family once they are all home. We are going out for tea on Tuesday and I'll need to buy wrapping paper and a cake - all for my eldest's birthday. This all comes out of a different budget and I'm trying to be cool about spending the money but it is really hard to take my frugal hat on and off. I obviously want to celebrate his birthday but if it was up to me, I'd go and live in a cave and pay off this debt, it's v. hard being so careful with one hand and what feels like so prolifigate with the other (although it's not really).

The hopeful work with the extra £100 or so for next month hasn't come to anything yet but hopefully the guy is just away on holiday or busy and it'll pick up speed soon. I'm hoping to pick up 6 hours overtime in my proper job next Wednesday (I should find out today). I could really do with the rest time but needs must! I've done 8 hours overtime already this pay period so that'd be 14 hours in total which is around £250.00 net after all the deductions (paid at end of August). I'd have time to do a small amount more if it's on offer too (pay cut off 12th August), if I could grab another few hours on top of my 6 next week (fingers crossed), then that'd be well over £300.

I've been in a huff as I wrote a huge long post a couple of weeks ago and I lost it just prior to posting! I just couldn't face writing it all out again, until now! Here's the (condensed) version.

July was up and down with a couple of big (expected) spends and some excellent frugal behaviour. Like lots of other areas of my life (eating being a good example), I'm very much feast or famine! I finished the month making all planned debt payments, spending £247.69 (£130.00 of this on gifts as detailed in posts above) on non essentials and having 22 x NSDs.

August so far is similar, £252.13 spent so far (£44.90 of this on gifts) on non essentials but this figure does include an overnight camping trip & day out. I've also had 14 x NSDs so far. I'll spend a bit more as I am hosting a small hen party tomorrow at home and need a few things for games, cakes & decor but I've just set up a matched bet which will profit approx. £38 when settled so that will cover any further spend this month including what I need for the hen party, I think.

I've been absolutely smashing the overtime at work, I am paid next week and have an extra £530.00 in my payslip, all going towards the c/c. I'm also due another £410.00 overtime in my pay due at the end of September with the opportunity to earn a bit more via overtime before the cut off. I'm exhausted (my whole body aches, it's not a physical job but in emergency services so it is very stressful) but it does take the stress off how to make my planned repayments over the next couple of months. I have got a week off in September and a week off in October, which I am very much looking forward to. I also earnt £175.00 last week (paid this week), on two separate bits of extra work, I am really trying (& tired!).

I'd love to hear how anyone following or on their own debt repayment journey is getting on. I'll do a post soon of my debt repayments outstanding and progress towards £0 owed by 31 January 2025. I might start posting weekly spending diaries from start of September too, these have been helpful to keep me on track in the past.

Hello!

Another post from me rambling on about my progress/lack of!

So I finished August of with a total discretionary spend of £351.95 and a total of 17 x NSDs. This figure is much higher than I'd like, however probably realistic for my busy life and without saying no to absolutely everything! I don't feel like I was especially prolifigate, but the small spends here & there (coffees, swimming, gifts etc) sure add up!

I started September making a £600 payment to the c/c. Unfortunately I've found another debt and my total owed is now £3,525.00 meaning it'll be 31 March 2025 before I'm completely clear. I can't tell you how gutting it is to have had to face up to this after trying so hard, but I have had to take it on the chin and try and accept it. A difficult one to accept though when I originally started on 01/01/2023 with a foolproof (ha!) plan to be all clear by 30/06/2024! The goalposts keep moving!

I have been busy matched betting/free spins, making a total of just under £64.00 in the last fortnight with not much effort at all and have another £9 (potentially more) in progress. I have a few birthdays (yes again, the tricky multiple close relative birthday months are nearly done!) in September with a few gifts to buy and days out & meals to pay for so this extra cash is really welcome.

I've now got another £530 extra coming to me in overtime at the end of September so that will help towards next month's debt repayments. I have one c/c left now, which, unfortunately, is accruing monthly interest. Now I have a £0 balance c/c, I'm very much hoping they'll offer another 0% balance transfer with a small fee.

Just cheerleading again. You are doing really well and are keeping your focus.

You are all doing amazing, awareness is key - well done everyone!

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