My name is Victoria and I am in debt. I also have a newborn baby. This is my record of paying off this debt by leading a more frugal lifestyle. 

My debt was a combination of credit cards, overdrafts and a student loan.

At December 2013 I owed £1,500 on my overdraft, around £6,000 on my student loan and almost £18,000 over various credit cards.

For the purpose of this blog I seldom discuss my student loan. The reasons are that under my loan agreement I only repay if I am earning a certain amount. If I am not working, I do not need to make repayments (albeit interest, which is very low, continues to accumulates). Anything still owed when I am 65 will be written off. Essentially I do not need to worry each month how I will find money for this loan so I concentrate on my credit cards as I do need to be able to satisfy the minimum repayments each month.

At its peak I was paying over £700 a month in repayments and interest in relation to the above debts. That is money that I could, and should, have been saving. 

Last year I stumbled across personal finance blogs of other people who were in serious debt and who had paid it off. I found these incredibly motivating and inspiring. I therefore started this blog to track my progress as I HAVE TO PAY OFF MY DEBT.

I hope you find my attempts at clearing my debt motivating and inspiring too. I will do it!

Victoria x


  1. I hope everything's doing well with your budgeting exercise. Reading your latest post, you seem to have found the trick of paying the minimum monthly requirement of credit cards. Posting these tips not just helps you document things as they progress, but also helps other people that are in the similar predicament. I hope you'll be able to pay all of your debts soon. Thanks for sharing!

    Stanley Erickson @ Indianapolis Bankruptcy Legal Services

    1. Thanks Stanley. I have (nearly) always been able to commit to the minimum repayments. Until this month I have been trying to pay an extra £200 a month towards them but could do with more. Thanks for your support.

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  3. It’s good to hear that you were able to follow the financial plan that you've established. It’s never easy to have more obligations to pay while having limited resources. But if there’s any consolation, you were able to set some self-restrictions with regard to spending your money. And with enough determination, it helped you overcome the financial burdens that have come along your way. Cheers!

    Tracy Frazier @ Sunnen Law