Debt payoff 2026

[1AnotherOne]

Morning all,

anyone want to join in a tackling debt for 2026 thread?

As of today I have £18.4k debt. I have paid off 26% of my debt this year to bring it to this total.

I have two loans (£260pm and £350pm) both of which will finish this year in February and August so that will free up a good amount.

My biggest problem is impulsive spending so I’ve created a section in my notes to write down what I want to buy. If I’m still thinking about it after 60 days I will allow myself to buy it.

Is it best to pay off each debt at a time or throw any spare money across each of them?

I also need to get out of my overdraft this year and start building up a good amount of savings.

What are your plans for tackling debt in 2026?

What do you expect this balance to be in November?
It might feel like that the £600 is a drop in the ocean towards what is left but it would reduce the amount on the card by over 10%
I think I would pay it off this card as it is the one that would be most at risk of costing you money.

Thank you that’s really helpful I hadn’t thought of it like that.

I’m currently paying £130 a month off that, I think it’s 7 more payments until I need to try to move it. I would roll the Lloyds payments on to the Barclaycard which is an extra £50 a month when paid off.

How is everyone doing?
I've been selling quite a bit of vinted (most items £1-3ish) just to declutter and get some money at the same time. Then that money goes straight onto my Argos card. I started the year owing £225 on it and now I'm down to £80! Once I've cleared that I'll go onto the next thing. I normally use my vinted balance to buy more on vinted or to just put in my bank and I end up spending on other things so this way it going straight onto debt means I'm actually paying off my debt quicker!
I'm so looking forward to getting debts gone and seeing the money we actually earn rather than it going on debt! 🎉

That’s great @mangomama91 I love selling on vinted! Bit like you, I normally just leave the balance there and use it to buy more crap 🙈… I want to do a purge over Easter of my kids clothes, to use towards debt.

I’ve just transferred my CC debt too another 0%, which means I now have another 2yrs to pay it off. I currently owe £4873.

I just want it gone! So I try to over pay the minimum (approx £500). But then find I have no money at the end of the month! So going to try half that and see how I go.

I can afford to pay the minimum, but it’s still mentally draining. I just want it gone!!

Came looking for inspiration on this thread ahead of payday.

I had such high hopes of paying off debt this year ….. so far I have had to pay £500 a month of my new boiler for the last 3 months (this month payment will be the last one)

im really noticing bills going up, and having less and less free money every month.

the only positive is that I won’t have to top up the gas this month…. As it still has £50 on it and it’s been used less as it’s getting a little warmer some days.

I plan to make a budget tomorrow and try stick to it.

extras this month include :

DS 15 birthday - he wants a new Xbox or a bike phone holder if we can’t afford Xbox

dd 18 is going to Malta on work experience for a month… I was planning on sending her a few spends she will need

I hope everyone is doing well!
I've just come on to share my excitement... I had a silly Argos card debt which I was paying minimum payment a month and then getting a big interest on it so it was like two steps forward, one step back
Then beginning of the year I decided to start putting small payments on it whenever I sold something on vinted and it's worked? I started this year with £225 on it and today I made my final payment!!! It's amazing how quickly you can get rid of it this way

Before I was using my vinted money to go straight into my bank and it was probably gone before I saw the benefits of it and this way just seems so more effective!
I'm excited to start clearing more debts now!

Can I join?
I’m almost 50 and have been plagued by debt since my student days but am determined the next 12 months will be the end of it! At times we have had almost 50k of debt, would pay it down and then it would build back up

Remaining debt
Credit 1 £1800
Credit card 2 (0%) £7250
Store card £2500

Currently focussing on credit card 1.
Debt free aim date March 2027

I find it fairly easy to pay down the lower amounts as I can really see the progress but then when the long slog hits to pay off larger debts, I lose motivation and it all slips back. That can’t happen this time.