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£100k Debt Free in 4 1/2 years - My Debt Diary
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ThankYouAndEnjoy! wrote:
Steps taken -
3-
Removed £3k from my ISA to pay the Credit Card in Full and contribute to the OverDraft - Figured this was a good idea as both are at APR's above ISA % rate (expected in next couple of days)
Received ISA monies this morning into current account. Have paid off 'statement balance' of credit card and reduced outstanding overdraft figure. YAY
Proud To Be Dealing With My Debts - 1420 Days To Go!LBM: £103,592.98 / Currently £78,500.08 - Down 24.22% / Mortgage: £92,800.00 / Loan: £17,284.21 / Overdraft: £450.09 / C/Card 0%(October 08): £5,601.54 / C/Card 0% (January 09): £1075.22 / Child Care: £137.80
Share Investments: £51,390.74 / Money Owed From GS: £5,812.610 -
Hello - Update for the weekThankYouAndEnjoy! wrote:
5 - Contacted Nationwide today to arrange Mortgage Payment @ £491.05 per month fixed.
Step 6 -
List ALL of my debts - Realised, after getting through the bill, that i had forgotten to add my Argos Store Card Bill. Its £254.94, Interest Free (thankfully) over 6 months; still ..... a debts a debt
(You know what they say; As One Debt Reduces Another One Increases - or somethin like that :rolleyes:)
Anyways - Have paid off approx 50% of my overdraft and paid off my credit card 'statement' in full so NO Interest to be charged
Got some good news yesterday, money wise, found out that for the first 6 weeks of maternity leave you get 90% of your normal wage. I had only budgeted on the £112 approx per week so looking forward to the extra money (£300). Should pay a bill or 2.
As you can see, i have reduced my net debt in the past 5 days by 2.547% - Am really pleased. Next week both myself and my girlfriend get paid (20th) so sig should look more positive come next sundays update!Proud To Be Dealing With My Debts - 1420 Days To Go!LBM: £103,592.98 / Currently £78,500.08 - Down 24.22% / Mortgage: £92,800.00 / Loan: £17,284.21 / Overdraft: £450.09 / C/Card 0%(October 08): £5,601.54 / C/Card 0% (January 09): £1075.22 / Child Care: £137.80
Share Investments: £51,390.74 / Money Owed From GS: £5,812.610 -
Can you not shop around for your life insurance. Seems quite high.0
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Hello
Im a bit dubious about changing really. It took us a while sorting that one out. I've a heart condition. Went back and forth with policy arrangements.
I know its a lot, but im only planning to have the mortgage for the next 4 1/2 years, so for the sake of £2800 or so during this period, to have that peace of mind seems financially incomparable
If all's well, or should we decide to move further up the property ladder (thats if we dont get left behind .. lol) then will prob look at changing then.Proud To Be Dealing With My Debts - 1420 Days To Go!LBM: £103,592.98 / Currently £78,500.08 - Down 24.22% / Mortgage: £92,800.00 / Loan: £17,284.21 / Overdraft: £450.09 / C/Card 0%(October 08): £5,601.54 / C/Card 0% (January 09): £1075.22 / Child Care: £137.80
Share Investments: £51,390.74 / Money Owed From GS: £5,812.610 -
Seems like you have all the bases covered.
Good luck when baby comes.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
RE: your girlfriends phone. I'm with Virgin PAYG and I pay monthyly by direct debit for however much I've used. Might be worth looking into?
Good Luck
Vanessa"We are what we eat. Which makes me cheap and fast"
"At the time we laughed. Now we die a little inside."0 -
Good luck with the quest matey! Even more important, good luck with being a daddy - the best thing to happen to you and the best feeling in the world, by a country mile
Not sure about having these madcap "Debt free in 4.5 yrs" challenges though...
Mortgage Free in 3 Years (Apr 2007 / Currently / Δ Difference)
[strike]● Interest Only Pt: £36,924.12 / £ - - - - 1.00 / Δ £36,923.12[/strike] - Paid off! Yay!!
● Home Extension: £48,468.07 / £44,435.42 / Δ £4032.65
● Repayment Part: £64,331.11 / £59,877.15 / Δ £4453.96
Total Mortgage Debt: £149,723.30 / £104,313.57 / Δ £45,409.730 -
Goodluck with this - Im sure you will do it.
And good luck with the baby too - life changing in a big wayLBM 22nd February 2007 - Amount in debt £72,242.23:confused: one month on :rolleyes: £63,900;) 2nd month 60,000.09
Aiming to be debt free October 2010:eek: PROUD TO BE DEALING WITH MY DEBT - official dfw nerd no.348/ DMP mutual support member no.8
Quidco: £4.07 Pigsback £17.10 Mrs Cashback 17.75 £2 savings club - £48 Loose change savings - £6.72 Woolworths Christmas Savings Card £10Reclaiming bank charges so far... £219 from Egg, £175 from Co-operative CC, £490 from Halifax One, at local court stage with HSBC and LLoyds & Marbles, MCOL with Mint0 -
Kaz2904 wrote:through quidco then you can get cash back
Opened up a Quidco account today. Purchased the cutest little dungarees for the littlen; just waiting for the %cashback now - Thanks for the referral to Quidco Kaz2904
Have already banked over 30 hours of overtime at work this month; am due for another 14 hours this weekend so May payday looks special!! - Am also due to sell £480 of shares (after taxes - to be paid in May) so looks like my savings account is going to see some positive action.
I should be paying off £1300 of debts this month; net debt should then be less than £100k - how much of a Psychological boost will that be!!
Hoping for more of the same success Proud To Be Dealing With My Debts - 1420 Days To Go!LBM: £103,592.98 / Currently £78,500.08 - Down 24.22% / Mortgage: £92,800.00 / Loan: £17,284.21 / Overdraft: £450.09 / C/Card 0%(October 08): £5,601.54 / C/Card 0% (January 09): £1075.22 / Child Care: £137.80
Share Investments: £51,390.74 / Money Owed From GS: £5,812.610 -
A couple of reasons to be cheerful the last couple of days.
:j IM THE PROUD FATHER OF A GORGEOUS BABY BOY :j
Charlie (as we have named him) was born at 5:14 on the 20th. He's the cuttest little thing and both my girlfriend and I couldn't be happier!!
Both got paid on the 20th, so the debts are reducing by the day
I've now got 4 weeks off work - well needed and richly deserved.
:jProud To Be Dealing With My Debts - 1420 Days To Go!LBM: £103,592.98 / Currently £78,500.08 - Down 24.22% / Mortgage: £92,800.00 / Loan: £17,284.21 / Overdraft: £450.09 / C/Card 0%(October 08): £5,601.54 / C/Card 0% (January 09): £1075.22 / Child Care: £137.80
Share Investments: £51,390.74 / Money Owed From GS: £5,812.610
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