Best put on my big girl pants! my saving for a deposit diary

mumof3.12kindebt · 23 October 2017 at 9:38PM

My diary to debt free and saving for a deposit by 35 .*updated feb 2018 - aim to be homeowners by if not hopefully before 30*

we aim to save 25k before even going to the bank for a dip

current age 25 . current financal status . trying but not trying hard enough . in debt with hardly a pot to wee in ... it has to change ... from today

we have consolidated our debts as of November so will just do an update regarding extra payments and a remaining balance every few months.

for the most part this will be my diary on saving for a deposit the highs lows and raising 3 children all currently 8yo or younger while doing it .

update 13.07.2019

september 2018 - paid off the loan
november 2018 - became debt free
febuary 2019 - offer was accepted on our forever home
june 2019 - completed on our purchase and moved in - was left £3000 out of £12,500 after all our expenses

see my previous diary here
https://forums.moneysavingexpert.com/showthread.php?t=5656806

took out mortgage with 5% deposit over 40 years - and im not paying a mortgage until im 66!

see our new mortgage free diary here

beanielou · 24 October 2017 at 10:34PM

You might be best to post on the DFW diaries.

mumof3.12kindebt · 17 November 2017 at 5:00PM

this week i consolidated my debts . so now i only have one monthly repayment and much lower interest plus the catalogue (0%)

in june my debt total was £14898 not including recurring credit card interest
it currently stands at £12907.56 including loan interest

£11766.60 loan 6.8% (total includes interest)
£940.96 catalogue 0%
£200 family member (brought a tent and camping equipment off them)

we have 13 months until the end of next year . so my goals by 31st december 2018

catalogue paid off (£940.96p)
loan dd payments (£2549.43p)
extra to loan (£450.57p)
family paid (£200)
savings goal £10,000 (house + emergency fund)

mumof3.12kindebt · 17 November 2017 at 5:09PM

how are we doing so far

November 2017 - debt £12907.56 / savings £500

February 2018 - catalogue paid off . / savings 3200 / family 40 / loan 11000 - but banking app says 9396.11. so i need to phone them

April 2018
savings £3600 . total debt £7800
June 2018

August 2018

October 2018

December 2018

At the moment I hope to save
5k by April
10k by August
15k by December

mumof3.12kindebt · 18 November 2017 at 6:05PM

Sold a few things. £34 made.

Watching a film with the boys. Then it's tea baths and bed for the kiddies and I need to really crack on with my meds course for work

mumof3.12kindebt · 18 November 2017 at 6:16PM

So thats 500 in savings. And 164 in the box so far. Will update tomorrow . Have a good evening all

mumof3.12kindebt · 18 November 2017 at 8:02PM

More items sold and collected. Another £45 to add to the box

I'm going to eat my tea and have an early night. Boys have gone to stay at my grandmas. I completely forgot about this. Hoping baby will settle okay. Haven't got as much as I wanted to get done during my week off but it's been nice to have a little rest TBH and just not be rushing around so much. I haven't done much in the way of preparing for Xmas.
Cant wait till next pay day to add more to the savings accounts. Hoping to add around £1k next month.

mumof3.12kindebt · 19 November 2017 at 2:32PM

£760 saved since the 7th of October .

Boys are still with grandma so I'm going to crack on with my course from work.

Have a lovely Sunday everyone

mumof3.12kindebt · 20 November 2017 at 7:00PM

So I've used £200 of the savings to pay the family member what I owed them. So now it's just the loan and the catalogue . One less thing to worry about while saving up.

Silence101 · 20 November 2017 at 7:10PM

You’ve done quite well with your savings. How long is the catalogue on 0%? Will you have paid it off before they start charging you interest?

mumof3.12kindebt · 20 November 2017 at 7:19PM

Thankyou
Yes it will be paid before the interest I have until Sept 2018 . This is why I didn't include it within the loan consolidation otherwise I would of done.

Best put on my big girl pants! my saving for a deposit diary

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