Personal fireworks

Published on January 4th, 2012 | by Pete

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January 2012 Update

So, happy new year! Here we are again. I am sitting here struggling to believe that it was just over a year ago now that Money Superstar was born, and I began to share with you my past failures to manage money, as well as laying bare for all to see my total debt. Looking back, I thought I might feel embarrassed that I had done this, but I still don’t. I still consider it to be one of the most liberating and cathartic experiences I’ve had in a long time.

I expect some of you, like me, are beginning to implement new years’ resolutions, as well as continuing on the mission to save money, make extra money, and eradicate debt. I wish you all the best of luck on your mission, and hope I have your ongoing support in tackling mine! With that in mind, let’s check out those figures. After December payments my total debt stood at £23,829.44. Now, after January repayments, the total is £23.684.88. That means my debt has decreased by £144.56. A smaller reduction than normal this month, but I have transferred the balance of my Barclaycard to a new Virgin Credit Card, as I was running out of time on my 0% interest rate.  Transferring balances does incur a fee, and this is what has eaten into my debt reduction efforts this month. An irritating, but necessary and unavoidable evil of moving debt around to keep it as cheap as possible. I can now remain with this credit card until March 2013; then I shall have to shift again.

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