31st July is almost here!

It's tax time again and I don't have the full amount to pay my tax off in one foul swoop. My plan to set aside so much per month to pay for my taxes as they become due has not worked as well as I'd planned. (You know the problem?)

At the start of the year my balance was £12,607.01 and if you look at my current balance, it would seem I am in the little hamster wheel. Running flat out and not getting anywhere.

I am not the only one who is in this place - I know, this is the slog, the tedious part of clearing debt.

I have made a list of my monthly debt balances for the last 7 1/2 years and have been using it to help me get a handle on where I am financially and where I have come from. It's a pretty scary list, as it shows how long I have been trying to clear my debt and instead, I have been slowly increasing it year on year.

Last year my lowest balance was £12,611.43 - having added my current tax bill to my debit balance for July I am still under this amount. July isn't over yet so my debt balance will go down further before the 31st of July. My tax bill will be paid in full by the end of August and the end of my current job also.

My lowest balance for 2006 was £7,644.42 and I would like my balance for the end of this year to be at the same level as that. That is my goal for the end of this year, I would like to have a debit balance below this figure.

That is now the plan - time will tell huh!