December Spending Plan

A little good news amongst all the personal gloom.

I’ve managed to shave off £1,200 ($1950) off my credit card debts over the last 3 months and have shifted over £6,000 ($9,200) from high interest paying deals to 0% deals.

Shifting these balances onto 0% rates means that more of the repayments I’m making are going towards debt reduction rather than interest payments.

Whoop Whoop.

The other good news is that I’ve managed to stick to my personal spending budgets during the month of November – (a measly £280) and it hasn’t felt too bad.

Here is a breakdown of my monthly budget and debt details

Nov 2013

 

The bad news is that personal organisation is still a massive issue. Continually list building, and spending time on personal re-organisations which never seem to come off.

However – I’m determined to stick at it. I feel as if I can keep my time management / productivity issues to the forefront of my mind then eventually I will change my lax habits.

I’m going to hang in there – keep on paying down my debts and strive to increase my earnings.

The writing down of my daily spending seems to have fallen by the wayside – but I’ve started again for the month of December – so lets see how it goes.

One piece of really good news is that Mrs Getrichwithme has decided to go back to work 3 days a week after 15 months of maternity leave. She has promised me a little of her earnings towards our credit card debt reduction. I know you read my ramblings dear – so £200 a month would be greatly appreciated… mmmwaahh.

Onwards and upwards – and here’s to a frugal December.

Comments

  1. Hear, hear! Good going on paying off debt and keeping spending under control!

  2. I love the organized approach to your debt repayment. Good luck with the extra payments that can be generated from the switch to 0%.

    • getrichwithme says:

      I can’t stress enough what a big difference these 0% deals are making to the speed of debt reduction.
      The less interest I can pay the better.

  3. Looking good! The extra cash is just what you need to help keep you motivated. Good Luck!

    • getrichwithme says:

      Yes – having a young child, and a reduction to a single income has certainly been a shock to the system in many ways.
      That said, I wouldnt have it any other way.

  4. Having 2 incomes sure helps the situation. That in itself is really good news!

    • getrichwithme says:

      Thankfully my wife earns a good salary – even if she only works 3 days a week. I think its going to make a big difference in 2014 towards our debt reduction efforts.

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