2009 WILL Be My Debt Free Year

saver03 · 1 January 2009 at 11:32PM

HAPPY NEW YEAR

I thought that I would start a new diary as this is the year I will become debt free. I turn 30 :eek: on 27th September and I would like to be debt free by then. I have £5000 left so that should be doable. I would also like to go to New York so I want to save some money for that too. I know I can do it if I just set my mind to it and stick to my budget. So this new diary will hopefully keep me on track and give me a place for my mad ramblings :rotfl:

Here are my old diary's incase anyone is interested:
http://forums.moneysavingexpert.com/showthread.html?t=328237
http://forums.moneysavingexpert.com/showthread.html?t=387518
http://forums.moneysavingexpert.com/showthread.html?t=998771
http://forums.moneysavingexpert.com/showthread.html?t=1171039

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 99.14
Partners monthly income after tax....... 1450
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1549.14
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 425
Management charge (leasehold property).. 0
Council tax............................. 91
Electricity............................. 35
Gas..................................... 35
Oil..................................... 0
Water rates............................. 16.98
Telephone (land line)................... 10
Mobile phone............................ 20
TV Licence.............................. 11.63
Satellite/Cable TV...................... 10
Internet Services....................... 10
Groceries etc. ......................... 120
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 30
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 21.86
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 100
OH's football........................... 20
Lottery................................. 20
Total monthly expenses.................. 1016.47

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured Debt
Unsecured Debts
Description....................Debt......Monthly...APR
Loan from mum..................5000......500.......0
Total unsecured debts..........5000......500.......-

Monthly Budget Summary
Total monthly income.................... 1,549.14
Expenses (including secured debts)...... 1,016.47
Available for debt repayments........... 532.67
Monthly UNsecured debt repayments....... 500
Amount left after debt repayments....... 32.67
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -5,000
Net Assets.............................. -5,000

I have included my basic pay as I am only contracted for 4 hours per week but have been doing more so the extra can go straight off my debt.
There are 2 adults and 1 cat
OH has a van from work so don't pay any vehicle related costs
My mobile is on a cashback offer
I am on Virgin's £30 for phone, internet and TV
Lottery is £3.50 per week and OH wants to keep it as it's his hope!!
I left entertainment blank as I will be at college and working so probably won't really go out and if we do can always use the household emergency fund
I also ebay, when I have time, and make anything from £80-£500 a month

ANY advice is greatly received as I figure we need about £3500 for 1 week in New York for the 2 of us, including spending money. So I must really tighten my belt if I want to be debt free and go to New York. But I won't go to away unless I am debt free so I better get busy and stop wasting money, that or win the lottery :rotfl: I really must get caught up on all my college work and stay on top of it so I can actually make time to ebay so I can get rid of the boxes as I refuse to throw them out, plus I may make some money too so that is always a bonus.

Anyway, enough rambling from me, well for now anyway :rotfl: Please feel free to advise me, chat or just give me a good kick up the bum, the latter is much needed!!

saver03 · 2 January 2009 at 11:17PM

Pay off debt by 27th September 2009
Go to New York
Get into Drama School
Get more than 5 Distinctions on my BTEC
Lose some weight
Get my time managment organised
Clear all ebay boxes
Eat more healthily
Get fitter

They are all I can think of now but I am sure there is lots more that I need to do.

saver03 · 3 January 2009 at 5:07PM

I know that I need to be positive and confident and I will reach my debt free goal otherwise I will just give up and say, "Well I won't do it so may as well not bother trying." I can and I will pay off my debt before my 30th birthday. I definately do want to go to New York as well and that will be my 30th present to myself and also off my OH, extravagant I know but I have always wanted to go and it can be classed as a reward for becoming debt free!! Plus I will saving the money to pay for it and for spending money so no more getting into debt for silly reasons.

Think I will put some pictures on my fridge of the places in New York I want to visit and hopefully they will inspire me to working harder at paying off my debt and get saving for my trip.

I am off now to my friend's sons 7th birthday party :eek: not sure if I have the energy though :rotfl:

xsarahahax · 3 January 2009 at 5:09PM

Good luck! I would LOVE to go New York :-)
Happy New Year!! xxx

saver03 · 7 January 2009 at 10:10PM

I am so glad I have finished college for the week just because I am very tired and need some sleep. I will be working but I am not in until 12.30pm tomorrow so will be able to sleep in until 10.30am. Plus I plan to have an early night as no college work to hand in tomorrow so no staying up until 2am then getting up at 7am :j

I must just try to manage my time better over the next few days and get up to date with college work and this will allow me to stop doing verything last minute. I was doing this at the end of last term and some nights I was only getting 4 hours sleep at night and that was just SO hard.

I MUST also budget properly and early for next month, as I will have a good wage due to doing extra hours at work, then I can knock any excess of my debt before I just waste it.

My plan is to pay the debt off first so I can start saving for New York and will probably leave booking until the last minute to ensure that I have saved enough to go there without borrowing anymore and then I may hopefully be able to get a good last minute deal.

Damita · 7 January 2009 at 10:14PM

Good luck with paying it off this year

saver03 · 7 January 2009 at 11:25PM

I will definately pay off the debt this year. Then it is just a question off if I can save enough for us to go to New York

May have to set my sights lower, like a weekend in Blackpool :rotfl:

saver03 · 15 January 2009 at 4:52PM

Just thought I would write on here and hopefully it will make me feel a bit more motivated. I just want to be debt free NOW and I am finding myself losing motivation and I need to start feeling more positive as the end is definately insight. I Know that I can be debt free by the time I am 30 but I just need to stay focused and pay my debt off as early as possible. As soon as I pay off my debt then I can start saving for my 30th birthday holiday and hopefully will be able to save enough to go to New York.

I am still struggling with time managment and I know that if I get that sorted then I will be feeling less tired and stressed with college, college work, work and ebay. I need to get up to date with college work and just get into a good routine so I am not staying up until the early hours trying to finish off assignments. This can't be good for the quality of the work and it is definately not good for my health. Plus, if I get sorted I can start ebaying again and make some extra money and get of the boxes I refuse to throw out.

Well must dash as lots to do and I am working tonight, unfortunately, 6pm - midnight :mad:

Please feel free to give me some advice or a swift kick up the bum :rotfl:

saver03 · 23 January 2009 at 12:43AM

Not long been in from work and was feeling unmotivated :mad: so thought that I would write on here.

I am already thinking about our February budget and I think nearly all of the money is budgeted for :mad: and I was hoping to be able to use some to pay off debt so I can reach my debt free date sooner. I just wish I was debt free now as I am so impatient and I can see that the end is in sight. I really need to pay off this debt asap and then I can start saving for my 30th birthday holiday. I really want to go to New York so I hope I can get saving soon or otherwise we will have to go to somewhere less extravagant.

As always I need to get caught up with college work so I can get a good balance and sleep more before I am too tired to do anything. Also, when I am up to date with college work I can start ebaying again and hopefully make some extra money and get rid of some boxes.

Anyway, need to go to bed now before I fall asleep at computer :rotfl: so please feel free to give me some advice, motivation or just a swift kick up the bum.

saver03 · 24 January 2009 at 4:49PM

As I am still feeling a little disheartened with everything, money especially, I thought that I would write on here and hopefully get everything sorted in my head.

I seem to be losing focus with everything. I was starting to feel a lot happier a few months ago what with a new job and starting college but recently I have been feeling down again and I am not sure what to do for the best. I think it is mainly because I don't seemt to have any life anymore. If I am not at college or work I am sat at home doing college work and it is just starting to bring me down and make me question if this is really what I want. I know I just need to get my time managment sorted and prioritise and then I should be caught up with all my college stuff and should be able to comfortably stay on top of it all. I am hoping then I will be able to do some ebaying and make some more money. But then there is still the question of if this is what I really want from life

My tutor says that it is a confidence thing and I am a lot better than I think I am, but I just don't know if I have got what it takes. I am trying to stay positive about going to Drama School but then there is this thing in the back of my mind that is preparing me incase I don't get into any. But then if I do get in then I have to think what I am going to do with the rest of my life and not just drift from college to drama school then who knows what! ARGH!! :mad: Maybe, I am having a mid life crisis as I am nearly 30 :rotfl: Don't feel old though and to be honest don't look or act it either, think I am trying to hold onto my youth and it helps been surrounded mainly by people in their early 20s!

Anyway, back to my debt free plan. I know I will be debt free this year and it is so close I just want it to be right now. I am very inpatient if you hadn't guessed :rotfl: But at least it is my deft free date I want right now and not the latest thing in Vivienne Westwood so I guess I am making progress :rotfl: I have 8 payments left and £4500 so that is totally doable as I am paying my mum £500 and putting £50 into my isa. However, I may have to dip into my isa fund as I will have to pay audition fees to drama schools :mad: and even then I may still not get in :mad: Or, fingers crossed, I will have all 5 fighting over me and then I get the choice. I do hope so please keep everything crossed for me. But auditioning will be very expensive as it will cost about £300 for audition fees and as 3 of them are in London I will have to pay for travel down there and accomodation :eek: So I better make damn sure this is what I really want so I don't waste any money. I will just have to make sure I budget well and really stick to it and put any excess into my isa for when my auditions come in.

Anyway, enough of my self indulgent rambling :rotfl: as I have lots of college work to do :mad:

Please feel free to offer any advice or just slap me :rotfl:

gbatey · 24 January 2009 at 5:04PM

Well done on coming this far with your debt since 2006 and just think this time next year ALL your money will be yours!

2009 WILL Be My Debt Free Year

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