Mopping up the mess - my final debt free journey!

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  • Verbatim
    Verbatim Posts: 4,830 Forumite
    First Post First Anniversary
    Would'nt it make sense to clear the debts before spending more on the house? Unless you're sure they will be interest free right up to when they're finished.
    CCs @0% £24k Dec 05 £19,621.41 Au £13400 S 12600 Oct £11,981 £9481 £7500 Nov £7250 D £7100 Jan 6950 F £5800 Mar£5400 May £4830 June £4660 July £4460 Aug £3200, S £900, £0 18/9/07 DFW Nerd 042
  • clearmydebts
    clearmydebts Posts: 6,485 Forumite
    First Anniversary Combo Breaker First Post I've been Money Tipped!
    Verbatim wrote: »
    Would'nt it make sense to clear the debts before spending more on the house? Unless you're sure they will be interest free right up to when they're finished.



    Hi Verbatim,


    Yes - it would make complete sense but there were certain things we wanted to get done. The storage press we are getting installed next week is the last big thing and then we can concentrate on really paying down the debts in a more aggressive way.
    Total (Aug 19):€58,567 Now:€26,947
    DFD:Nov 22/June 22
    Mortgage: €199,712
    MFD: March 2042/July 2034
  • clearmydebts
    clearmydebts Posts: 6,485 Forumite
    First Anniversary Combo Breaker First Post I've been Money Tipped!
    Payday for OH tomorrow thank goodness. June has been a long month with lots of unexpected expenses. Looking forward to properly getting back on track in July and really starting to make some headway
    Total (Aug 19):€58,567 Now:€26,947
    DFD:Nov 22/June 22
    Mortgage: €199,712
    MFD: March 2042/July 2034
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    Following - sounds like you are doing great already.
    Totally agree that June has dragged!
  • clearmydebts
    clearmydebts Posts: 6,485 Forumite
    First Anniversary Combo Breaker First Post I've been Money Tipped!
    ramblehan wrote: »
    Following - sounds like you are doing great already.
    Totally agree that June has dragged!



    Thanks Ramblehan,


    Not really as good as I should be, but just need to re-focus and put my head back down again!
    Total (Aug 19):€58,567 Now:€26,947
    DFD:Nov 22/June 22
    Mortgage: €199,712
    MFD: March 2042/July 2034
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    How are you doing?
  • clearmydebts
    clearmydebts Posts: 6,485 Forumite
    First Anniversary Combo Breaker First Post I've been Money Tipped!
    ramblehan wrote: »
    How are you doing?



    Hi Ramblehan,


    I'm a bit all over the place moneywise at the moment. We have had a lot of unexpected expenses. Hoping things can be more on an even keel from August onwards.


    How are you doing?
    Total (Aug 19):€58,567 Now:€26,947
    DFD:Nov 22/June 22
    Mortgage: €199,712
    MFD: March 2042/July 2034
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    Hiya,
    A bit the same, but hanging in there. Managed to come in on my food budget for June which feels like a hue result, but 'unexpected' expenses in the form of vets bills throwing things a bit off course!
    I'm just starting a DMP so starting to get some of the scary letters - trying not to wobble!
    What's your plan for July looking like?
  • clearmydebts
    clearmydebts Posts: 6,485 Forumite
    First Anniversary Combo Breaker First Post I've been Money Tipped!
    ramblehan wrote: »
    Hiya,
    A bit the same, but hanging in there. Managed to come in on my food budget for June which feels like a hue result, but 'unexpected' expenses in the form of vets bills throwing things a bit off course!
    I'm just starting a DMP so starting to get some of the scary letters - trying not to wobble!
    What's your plan for July looking like?



    Well done on the food bill. I don't think I've ever come in on budget. How are things going with the DMP?


    I know the feeling about unexpected bills. The car bill and glasses/consultants bill really threw us.


    My plan for July is just get through it really. We have a lot of expenses coming up in the form of school uniforms, books, school holiday expenses so I'm going to concentrate on paying the minimum off my bills and then in Sept I will be more aggressive with paying off the debts. No point in borrowing from Peter to pay Paul while we have all these expenses. Anything other than that will be a bonus.
    Total (Aug 19):€58,567 Now:€26,947
    DFD:Nov 22/June 22
    Mortgage: €199,712
    MFD: March 2042/July 2034
  • System
    System Posts: 178,093 Community Admin
    Photogenic Name Dropper First Post
    Hi CMD,
    Sounds like you do have a sound plan- inthe past I have always been unrealistic about real expenses and agressively gone after reducing debt, and then it's failed as something's cropped up. Patience is a huge lesson out all of this for me - I need to seriously learn to have some as this going to take years to sort - probably as many years as it took to build up!

    I'd like to say I think the DMP is going fine but we are at the really early stages. We've gone self managed so instead of someone else doing it for us, we're doing it all ourselves. In some respects this seems great as we have more control - on the downside I'm not 100% sure of what we are doing...and I'm struggling getting my head around not paying my creditors and damaging my credit rating, when I've always paid in the past....we'll get there.
    We've been able to get rid of our 2 smaller CC's this week so now we just have the 3 on the DMP to contend with.

    Here's hoping there's a few quiet and calm weeks to come!
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