If I can pay off over £41k in debt, so can you!

I'll blog more about it when all my debt has gone, but I feel so motivated right now that I wanted to do a post on it.

In March 2005 I thought my finances were doomed forever. I thought that I would never recover from having so much debt. How wrong can you be. There is always a way back! It's taken a lot of determination and willpower, but just over 4 years later, all the debt has nearly gone and yours can be too.

If you have debt, put together a plan to pay it all off. Make 2010 the year that you take control; use this snowball calculator to see how much interest over payments can save you; read all of this blog, Adam has a brilliant writing style, that is very motivating; use every resource available to you -make a choice to get debt free.

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Payday Budget

Payday is here next week and in an effort to be more organised this month I've done my zero based budget already. I'll have income of £2,040.66, so here's where it's all going:

£800 Joint account
£900 Debt
£18 Sponsor child
£80 Daughter expenses
£220 Food
£22.66 Misc (blow money)

My main goal for the next few weeks is to record all my spending - I seem to have forgotten how to do it!

All is not lost

In my last post I told you how I forgot to budget for November, well budgeting is like dieting, if you fall off the wagon, you just need to start afresh the next day! You mustn't let one bad day/week take you off track.

I simply took the balance of my checking account, took off everything still left to pay until the next payday and then sent all the other money to my debt. The good news is that I haven't overspent this month and I was able to send £227.21 to my loan.

Debt balance now £3,150 and sub £2k coming by the end of November.

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Budget, What Budget?

Confession: I haven't done a personal budget in November! Having flu and then playing catch up at work, means I never got around to it.

I can't remember the last time I didn't budget. It would of been sometime in the past, before 2005, when I was a spending monster! Anyway, tonight I'm going to sit down and work out my money for the next two weeks, then it's payday again and I can more even closer to debt freedom.

Checking Balances Online

I've not been able to check my online banking account since last Saturday as I locked myself out, (having the flu made me forget my pin!) and it's driving me nuts. My whole daily routine is wrong. The simple act of knowing all was well in my account seemed to bring me peace of mind for the day, and now I don't have it. - The bank are sending me a new number, and it can't come soon enough.

I know that all will be well, everything is set up like clockwork, but I need the physical evidence of that. I could also get a mini statement from an ATM, but it's not the same!

Are you like me, do you check your online banking everyday?

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Quick 'getting over the flu' Update

Oops no posting for a few days; the flu took hold! Budgeting and planning for November are a little behind, but I've not been spending, so it shouldn't make any difference.

I've made a couple of Amazon sales, so this has started the ball rolling on making a little extra money, and this weekend I'm starting an inventory of items to sell on eBay. I've already sold so much on eBay, and I'm not expecting any big ticket items, but in the New Year I want to finally rid the house of our surplus 'stuff'. Where does it all come from?

Debt Update: October 2009

It's payday today and I've quickly sent a £1,000 snowball; November budget to follow, but my debt now stands at £3,377, 92.4% of the way there. So close I can actually believe it's going to happen!

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A Fairly Cheap Treat

I've practically stopped spending on most things, however a new little routine has crept into my month; just after payday, I take myself off to the local Borders, browse the books, buy a magazine and then sit reading the magazine and drinking a double cappuccino.

All in all this costs less than £7 a month and makes me far happier than £300 handbags used to!

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Extra Money Earned: £350 Challenge

In 2009 I've made about £1,200 in extra income from a variety of sources, but my focus on earning snowflakes has relaxed a little. Not now, it's back. I've already updated my Amazon listings and prepared some items to list on eBay over the weekend.

I need to generate at least £350 {£5 a day} in extra income, in the 70 days between now and December 31st.

What are you currently doing to earn snowflakes?

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What are your Spending Triggers?

What triggers you to spend money needlessly? Are there several things or just the one?

I know the one single thing that causes me to spend money, tiredness. Being tired and run down can cause me to take a trip to the coffee shop, buy a ready meal for dinner, or stop me making my packed lunch in the morning; it can also make me run wild on Amazon!

The cure to stop me buying stuff has nothing to do with how many credit cards I have, even though I'm credit card free now, its whether I've had a good nights sleep or not.

What about you? What can cause you to spend money?

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Debt, emotions, and why I quit my job

Reading back over my blog it's easy to see the emotional up and downs you have when paying down a large debt; I've changed my plans nearly every month!

Anyone with debt will tell you that having it hanging over your head all the time is awful, it never goes away. Every decision you make is based on money, and being in debt is just about all you think about. It became my priority above everything else at times, and that was not always ok.

Now that I've learned my lessons, and its nearly all gone, I can finally move forward; that's why I'm leaving my current job and trying new things.

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