get out of debt

OK, I have had a quick financial inventory and I have set up small direct debits from my everyday account into my savings acccount. Half is for long-term savings and half for short-term savings. I’ve been meaning to do that for ages and ages. I’ve been procrastinating because I am bamboozled by my finances and don’t quite trust my budget. But I need to give it a go.

Of course I still need to stop spending so much now so that these savings don’t end up coming from my credit cards!

Next steps include:

looking at the salary packaging discrepancy that’s been bugging me ,
taking a proper inventory of my finances
signing up for a Visa and cancelling my ME mastercard (easier for salary packaging via my workplace)
and finishing my taxes

And bought myself a new computer and a new camera while I was at it! And I still have to cut up the credit cards. Thing is, I have to keep one of the credit cards at a certain limit so that I can keep doing salary sacrifice at work. Very confusing.

But it is time to really start getting serious about this debt reduction business. I don’t have much choice now that the loan repayments are being direct debited…

I still need a credit card for my salary sacrifice. But I am going to cut up one of my credit cards and freeze another and just keep one in my purse with a low-limit and a low-interest rate and pay it off every month with salary sacrifice.

I am still waiting for the loan to be processed though.