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  • FIRST POST
    • Exerbusi2
    • By Exerbusi2 3rd Jan 17, 10:53 AM
    • 232Posts
    • 152Thanks
    Exerbusi2
    I'm Back - and better! Final Push to Go...
    • #1
    • 3rd Jan 17, 10:53 AM
    I'm Back - and better! Final Push to Go... 3rd Jan 17 at 10:53 AM
    It's the start of a new year, so as per every year I take a look at my finances!

    When I first joined this forum, I was in 8000 of debt with no savings and no others assets. Not any more.

    My current situation is....


    Debts

    Credit Card: 5,500

    Assets

    Savings: 3,500
    Stocks and Shares Portfolio: 4,600

    I've been there and back when it comes to debt. At one point I was in 8,000 of debt with an income of 15,000.

    Not good.

    I grew a business, started to take more care of my finances and with the help of this forum, I chipped away at it.

    You can do it too. Just stay disciplined.

    My Current Situation

    So my current situation is simple. I have cash in the bank, I have a small share portfolio and I have a much larger income than I used to have (I also have larger outgoings though!)

    The obvious thing to do is to use my cash to pay my credit card. There are two reasons why I won't do this though...

    1. My cash is my buffer. It's also there to help with business expenses.
    2. My credit card is 0% for 32 months, so it costs me no more than it should.

    My Plan

    The reason I have a 5,500 credit card balance is because I took out the 0% credit card to pay off my car loan. The loan was 5,700, but I saved 230 by closing it early.

    My plan is to pay off the card within 22 months. To do this, I'll have to pay 250 per month (more than the 183 I was paying off my loan), but I will be doing this by cutting other expenses I don't need.

    I'm having a shed built at home (necessary, not indulgent) and I plan to (in time), make gifts to sell from there (I'm a woodwork fan!)

    If I can make this side business pay for itself, I shall be channelling all of that money into debt repayment.

    I also have a website that I earn a little money from. All of my website earnings will go towards credit card repayment.

    I'm going to take a good look at the finances this year. I have the means to get rid of this credit card, I just have to do things sensibly.

    I'm looking forward to seeing this debt disappear!

    Steve
Page 3
    • zippygeorgeandben
    • By zippygeorgeandben 17th Feb 17, 10:58 PM
    • 503 Posts
    • 571 Thanks
    zippygeorgeandben
    Exerbusi2 well this happened today..
    Me: can I borrow your gloves?
    Partner: yes but don't lose them
    Me: went to pay for something in a gift shop, only had one glove.
    Partner: you owe me a pair of gloves
    Me: 25 lighter in my account
    End Sep 2016 End April 2017
    8236.57 6670.91
    (Tesco 4.8%) 222.61pcm
    6185.75 1779.78 (Zopa 4.0%) 85.00pcm

    5344.50
    3394 (Sainsburys 0% until 06/19) 76.00pcm
    2000.00 (Sister 0%) 133.33pcm

    Total debt
    19.766.82 13,844.69 Original DFD May 2019.
    • Exerbusi2
    • By Exerbusi2 20th Feb 17, 1:55 PM
    • 232 Posts
    • 152 Thanks
    Exerbusi2
    Exerbusi2 well this happened today..
    Me: can I borrow your gloves?
    Partner: yes but don't lose them
    Me: went to pay for something in a gift shop, only had one glove.
    Partner: you owe me a pair of gloves
    Me: 25 lighter in my account
    Originally posted by zippygeorgeandben
    Arrrghhh! No!

    Well that's a bit of a kick in the teeth eh? Still, worse things happen at sea. Just be thankful you didn't crash their car or something!!!

    I was paid by a couple of clients today, so I have paid another 100 off my CC bill. That's taken me to 50 ahead of where I thought I was going to be, so I'm happy!

    My new project kicked off this morning and seems to be going well so far, so hopefully that should start to bring in real money soon!
    Loan 5000 0; Overdraft 700 0
    Savings 0 +1500; Share Portfolio 0 +4000
    0 Credit Card 6800 1700
    • Exerbusi2
    • By Exerbusi2 20th Feb 17, 3:48 PM
    • 232 Posts
    • 152 Thanks
    Exerbusi2
    I just wanted to share this with anyone who is reading my thread. It's revolutionised my thinking on spending, on happiness and on value assessment...

    http://tim.blog/2017/02/13/mr-money-mustache/

    It's honestly one of the most interesting and informative viewpoints on money I've ever listened to.
    Loan 5000 0; Overdraft 700 0
    Savings 0 +1500; Share Portfolio 0 +4000
    0 Credit Card 6800 1700
    • zippygeorgeandben
    • By zippygeorgeandben 20th Feb 17, 8:34 PM
    • 503 Posts
    • 571 Thanks
    zippygeorgeandben
    Any particular bit to listen to Exerbusi? It's also looking good for you paying things off! I can't wait to update my signature at the end of the month. I'm fed up of seeing those September 2016 figures!
    End Sep 2016 End April 2017
    8236.57 6670.91
    (Tesco 4.8%) 222.61pcm
    6185.75 1779.78 (Zopa 4.0%) 85.00pcm

    5344.50
    3394 (Sainsburys 0% until 06/19) 76.00pcm
    2000.00 (Sister 0%) 133.33pcm

    Total debt
    19.766.82 13,844.69 Original DFD May 2019.
    • Exerbusi2
    • By Exerbusi2 21st Feb 17, 8:45 AM
    • 232 Posts
    • 152 Thanks
    Exerbusi2
    Any particular bit to listen to Exerbusi? It's also looking good for you paying things off! I can't wait to update my signature at the end of the month. I'm fed up of seeing those September 2016 figures!
    Originally posted by zippygeorgeandben
    Well I think the whole thing is interesting, but the take home messages for me were these...

    1. Happiness is more about REMOVING things that make you UNHAPPY than it is about ADDING things that make you happy.
    2. Pleasure and price don't need to be linked. A great car might cost 500% more than a good car, but is it 500% more pleasurable to drive?
    3. You don't have to skimp to enjoy luxury, if you pick what you won't compromise on. Take food for example - the branded bread/biscuits/ice cream/whatever may cost 1-2 more than the own brand. That's an affordable upgrade. The above example - a BMW may cost 200 more per month than a Ford. It's an upgrade, but is it a worthwhile upgrade if you're on a budget?
    4. Travel is expensive - in both time and cost. If you drive an hour to work, it's 2 hours of your day you've lost. It's also a lot in fuel cost and wear and tear on the car. Walk/cycle if possible.

    There are more, that's just what I remember!
    Loan 5000 0; Overdraft 700 0
    Savings 0 +1500; Share Portfolio 0 +4000
    0 Credit Card 6800 1700
    • beanielou
    • By beanielou 22nd Feb 17, 8:02 PM
    • 46,082 Posts
    • 162,798 Thanks
    beanielou
    Ambles in late!
    You are doing very well~~keep going
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "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.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • zippygeorgeandben
    • By zippygeorgeandben 22nd Feb 17, 11:42 PM
    • 503 Posts
    • 571 Thanks
    zippygeorgeandben
    Exerbusi thank you for bullet pointing the bits you took away from it. Haven't actually had time to listen at the moment.
    Number 3 is one I agree with. There are certain brands we won't skimp on, i.e. kelloggs cornflakes, cravendale milk, fairy washing up liquid.
    I'm lucky to not have ANY transport costs for work at all. I live within 5 minutes walking distance. In fact, when I moved jobs two years ago, this was definitely factored into my reasoning for moving (saving 60 per month = 720 per year) on travel.
    I'm definitely looking at going away in Easter with family/friends so I'm going to transfer some s to my sister out of this month's pay and the rest out of my March salary. I'll still be paying more off the Virgin CC than the 38pm they request.
    Interestingly, my sister can get a 2k interest free loan from her place of work and has kindly offered it to me, I'm not sure what the best thing to do about that is though? Take it off her, reduce one of my debts and as a result monthly payments (and the interest I would pay over the period) and then pay her back monthly? I'll have to work it out I guess but any advice would be gratefully received.
    Someone has paid me today 132 for some tickets I bought in January for a musical next year, so that's positive.
    End Sep 2016 End April 2017
    8236.57 6670.91
    (Tesco 4.8%) 222.61pcm
    6185.75 1779.78 (Zopa 4.0%) 85.00pcm

    5344.50
    3394 (Sainsburys 0% until 06/19) 76.00pcm
    2000.00 (Sister 0%) 133.33pcm

    Total debt
    19.766.82 13,844.69 Original DFD May 2019.
    • Exerbusi2
    • By Exerbusi2 25th Feb 17, 8:11 AM
    • 232 Posts
    • 152 Thanks
    Exerbusi2
    No problem at all!

    I'd love to have no transport costs, but it's tough for me - my job involves visiting a number of places in any one day. That said, there are certainly ways that I could reduce it, so I am going to explore those in time.

    As for the loan - tough one. 2k wouldn't clear any of your debts, but it'd certainly take a chunk out of them. I'd take it, because having even a small percentage of your debt at )% is better than none of it.

    I suppose if I were you I'd take the loan, pay it all of the most expensive debt (Tesco in your case) and then pay back your sister. What is the rate of repayment - that is something to consider,

    The other thing to consider, which may be better come to think of it is if you pay 2k off your 0% credit card, then transfer 2k of your Tesco debt onto that. It will only work if the transfer rate makes it worthwhile though.

    What's gone on with the 132 - all on debt?
    Loan 5000 0; Overdraft 700 0
    Savings 0 +1500; Share Portfolio 0 +4000
    0 Credit Card 6800 1700
    • Exerbusi2
    • By Exerbusi2 25th Feb 17, 8:30 AM
    • 232 Posts
    • 152 Thanks
    Exerbusi2
    So my current CC debt is now 4,747.50. I hadn't realised the standard DD had been taken out from my account, so the balance is lower than I realised!

    I also had an extra little bit of money paid to me, so I have put 50 towards another payment. With more money coming to me next week, I shall probably pay another 50 off then.

    My February goal was to be below 5,000. Maybe my March goal should be to get below 4,500. At current rate of repayment, that should be possible.
    Loan 5000 0; Overdraft 700 0
    Savings 0 +1500; Share Portfolio 0 +4000
    0 Credit Card 6800 1700
    • MoodyMel
    • By MoodyMel 25th Feb 17, 10:54 AM
    • 138 Posts
    • 293 Thanks
    MoodyMel
    Exerbusi2 - Hello You have done so well and I love your enthusiasm.

    I have just had lots of support from this forum and am now eager to get started with my own debt-busting journey. One thing I am interested in is getting myself some savings along the way, as we always end up screwed when we have car issues, or something in the house breaks down (washing machine etc) Or the kids grow and suddenly needs shoes and clothes...

    Do you have your savings in an ISA or just a regular account? Also could you tell me a bit about your shares portfolio: how did you choose what to invest in or what kind of shares do you have etc... This is something I am interested in, but I'm not exactly sure where to start
    • zippygeorgeandben
    • By zippygeorgeandben 25th Feb 17, 3:13 PM
    • 503 Posts
    • 571 Thanks
    zippygeorgeandben
    Exurbusi hope you are having a nice weekend. I always appreciate you responding to my posts in detail, giving me food for thought. You've made me think about something though. I've just applied and been accepted for a Sainsburys CC. They have given me a 6,500 credit limit. I've instructed them to transfer the Virgin CC debt to this as the Virgin CC runs out interest free in June/July. The sainsburys CC was actually promoted via this site with a promotion of 42months at 0% on balance transfers AND no transfer fee.
    I'm thinking now that I could transfer the Tesco loan to the Sainsburys CC (can I do that? i.e. transfer a loan to a CC).
    In an ideal world, the VirginCC,Tesco Loan (-2k from sister) go on the Sainsburys card and I can pay minimum repayments whilst paying my sister back in 12-18 months. The only interest I'm paying then is on the Zopa. The 132 will just go on debt.

    Anyway, onto you now! Yes - explore the possibility of reducing your transport costs. Do you know in advance where you have to go? Do you have a say in deciding what days you go where?

    Congratulations getting under the 5k! I'll give you an emoji!
    Keep chipping away at it. Have you seen my signature? I'm giving myself an 'award' for cutting the debts off the VirginCC. Silly I know but I'm like 'I've got the bronze, can i now get the silver'!
    End Sep 2016 End April 2017
    8236.57 6670.91
    (Tesco 4.8%) 222.61pcm
    6185.75 1779.78 (Zopa 4.0%) 85.00pcm

    5344.50
    3394 (Sainsburys 0% until 06/19) 76.00pcm
    2000.00 (Sister 0%) 133.33pcm

    Total debt
    19.766.82 13,844.69 Original DFD May 2019.
    • Exerbusi2
    • By Exerbusi2 25th Feb 17, 7:12 PM
    • 232 Posts
    • 152 Thanks
    Exerbusi2
    Exerbusi2 - Hello You have done so well and I love your enthusiasm.
    Originally posted by MoodyMel
    Hi Mel! Thanks for the compliment! It hasn't always been easy and I've certainly learnt a lot along the way. The forum (and site as a whole) certainly helps.

    One thing I am interested in is getting myself some savings along the way, as we always end up screwed when we have car issues
    Originally posted by MoodyMel
    Now, here's where my approach is perhaps slightly different to others. I'm a believer that the most positive way to get out of debt is to grow your income, rather than cut, cut and cut some more. All work and no play makes Jack a dull boy and all that.

    Cutting your expenses is important. In fact, scrap that - it's vital. But by growing your income you can still enjoy a few luxuries.

    I started by taking on some extra work outside of my normal job. I used that money to do two things...

    1. Pay down debt quicker.
    2. Build some savings.

    After a while my extra work became my full employment. I quit my job, started my business and haven't looked back.

    There are people on the forum who would (perhaps rightly, depending on your thinking) use all of their available money to pay off debt, citing its expense as the reason. The logic being, if your debt is at, say 5% but your bank only pays you 0.1%, it's better value for money.

    I get that, but I think there is something else at play.

    Psychologically, it helps if we can see some kind of positive in life, and a growing saving pot is that. Additionally, if you use all of your available money to pay off debt, when 'life' happens and you have car costs etc, you've got no spare money and end up having to use debt to cover life costs.

    Ergo - you remain in debt.

    Do you have your savings in an ISA or just a regular account?
    Originally posted by MoodyMel
    It's in a normal account. I use it as a cash buffer for the business. Given the returns even from an ISA are terrible, I keep my cash at hand for business use and save the excess in the stock market where the dividends and share price growth means there are real returns.
    Also could you tell me a bit about your shares portfolio: how did you choose what to invest in or what kind of shares do you have etc... This is something I am interested in, but I'm not exactly sure where to start
    Originally posted by MoodyMel
    So I typically buy big, boring companies that pay a regular dividend. I do have a few growth shares (small companies you buy cheaply and gain a return from the shares going up in value).

    I'm not willing to gamble on companies I don't really understand, so to give you a roundup of the kind of companies I own shares in....

    Money Supermarket (who own this very site!)
    Vodafone
    Centrica (owns British Gas)
    NCC (Online security - had them years, bought them when the shares were pennies!)
    RBS (bought just after the collapse, so they are worth A LOT more than I paid for them!)
    National Grid
    Lloyds Bank (again, bought after the collapse)
    Tesco (again, after the accounting scandal)

    I like big, stable companies and often buy when something goes wrong. If the business is fundamentally sound but is going through a bad patch, I buy them. Often the price is a temporary blip and given I tend to hold onto share for years, the prices always recovers in time.

    I started through my bank. I bank with HSBC and use their 'Share Dealing' option. I can't remember if I had to register for the account or not (I started investing a few years ago) and I only buy shares when I see a company I like at a price I like.

    I always re-invest the dividends too.

    It's actually really fun (if you make good decisions that is!) Always do your research and only invest what you don't need.

    Hope that helps!
    Loan 5000 0; Overdraft 700 0
    Savings 0 +1500; Share Portfolio 0 +4000
    0 Credit Card 6800 1700
    • Exerbusi2
    • By Exerbusi2 25th Feb 17, 7:43 PM
    • 232 Posts
    • 152 Thanks
    Exerbusi2
    Exurbusi hope you are having a nice weekend.
    Originally posted by zippygeorgeandben
    Not bad thanks - hope the same for you!
    I always appreciate you responding to my posts in detail, giving me food for thought.
    Originally posted by zippygeorgeandben
    Happy to be of service! We're all in this together!
    You've made me think about something though. I've just applied and been accepted for a Sainsburys CC. They have given me a 6,500 credit limit. I'm thinking now that I could transfer the Tesco loan to the Sainsburys CC (can I do that? i.e. transfer a loan to a CC).
    Originally posted by zippygeorgeandben
    Yes, you can. That's what I did with my final debt - I transferred my car loan (3.3%) to my 0% CC and even saved a few hundred quid in the process because it was a full repayment.

    I'd pay the 2k loan off the Tesco loan, reducing the debt to the 6,200-odd. Then I'd call up Tesco and find out what it'd cost you if you paid the loan back in full. That's your settlement fee. It should be significantly cheaper than the outstanding balance (probably over a hundred quid).

    Once you have your settlement fee, do the balance transfer, which is better way to pay off your debt.

    I prefer to have debts on CC rather than a loan for two reasons...

    1. It's cheaper (usually), unless you're on a bad card.
    2. If offers more flexibility in repayment. Any spare cash you have can go straight on the CC. It's more difficult with a loan where the payment schedule is far more structured.

    In an ideal world, the VirginCC,Tesco Loan (-2k from sister) go on the Sainsburys card and I can pay minimum repayments whilst paying my sister back in 12-18 months. The only interest I'm paying then is on the Zopa. The 132 will just go on debt.
    Originally posted by zippygeorgeandben
    Throw all of your spare money at the CC debt to get it down. As soon as you can then transfer the ZOPA loan onto it, do that - again you'll probably save yourself a couple of hundred quid by closing it in one go.

    Anyway, onto you now! Yes - explore the possibility of reducing your transport costs. Do you know in advance where you have to go? Do you have a say in deciding what days you go where?
    Originally posted by zippygeorgeandben
    I do - I'm self employed so to a degree have control over my schedule. The problem lies when I have to cover a significant distance, but in the summer on the days when I can cycle, I will!
    Congratulations getting under the 5k! I'll give you an emoji!
    Originally posted by zippygeorgeandben
    Thank you! It's all getting a bit addictive! I'm hoping to get below 4,500 in March, but it could be an expensive month for me. It's my birthday in March and my girlfriend and I are celebrating it with a weekend in Bath, where we first went as a new couple back in 2009! We celebrate our anniversary whilst we are there too, so although it's technically my birthday weekend, I'll probably end up with a bill too!
    Have you seen my signature? I'm giving myself an 'award' for cutting the debts off the VirginCC. Silly I know but I'm like 'I've got the bronze, can i now get the silver'!
    Originally posted by zippygeorgeandben
    I have and well done! Celebrate any win, no matter how small! We're quick to have a go at ourselves, so we should be quick to praise when it's earned!
    Loan 5000 0; Overdraft 700 0
    Savings 0 +1500; Share Portfolio 0 +4000
    0 Credit Card 6800 1700
    • zippygeorgeandben
    • By zippygeorgeandben 25th Feb 17, 10:49 PM
    • 503 Posts
    • 571 Thanks
    zippygeorgeandben
    What a fantastic response Exerbusi2 - lots of brotherly love going on here between you and I. Must say that I enjoyed Hull last week. We took someone who is an amazing cook so each night we were there we actually ate in the apartment we had renting, saving money by going out and about.
    We've actually over the past year changed from drinking pints to halves. Reason for this is that we get to try double to amount of pubs in a short space of time! If we really like a place, we'll stay for another!
    I rang Sainsburys today, they have told me to resend the loan stuff to them as they haven't yet received it (sent on the 4th Feb!) and then I might do what you suggest.
    I did actually speak to Tesco and Zopa about 3 weeks ago about a F&F and yes I wrote it all down, it was like 500 off each debt basically. I might be wrong here but i think that Tescos said I could only request a F&F once a year, and that may have passed.. not the end of the world though I guess.
    The Tesco debt is actually about 7300 (not 8500 like you thought as that was end of Sep 16). I'll be updating my signature on the last working day of this month so it'll be 5 months to the day when i had my LBM. Is it sad that I'm excited for that day?

    I love Bath - my friends live in Bradford-upon-Avon. It was extremely busy but it was around Xmas time. Give me a mulled wine and I'm very happy. I think we may try Winchester next.
    End Sep 2016 End April 2017
    8236.57 6670.91
    (Tesco 4.8%) 222.61pcm
    6185.75 1779.78 (Zopa 4.0%) 85.00pcm

    5344.50
    3394 (Sainsburys 0% until 06/19) 76.00pcm
    2000.00 (Sister 0%) 133.33pcm

    Total debt
    19.766.82 13,844.69 Original DFD May 2019.
    • MoodyMel
    • By MoodyMel 26th Feb 17, 12:00 AM
    • 138 Posts
    • 293 Thanks
    MoodyMel
    Hi Mel! Thanks for the compliment! It hasn't always been easy and I've certainly learnt a lot along the way. The forum (and site as a whole) certainly helps.


    Now, here's where my approach is perhaps slightly different to others. I'm a believer that the most positive way to get out of debt is to grow your income, rather than cut, cut and cut some more. All work and no play makes Jack a dull boy and all that.

    Cutting your expenses is important. In fact, scrap that - it's vital. But by growing your income you can still enjoy a few luxuries.

    I started by taking on some extra work outside of my normal job. I used that money to do two things...

    1. Pay down debt quicker.
    2. Build some savings.

    After a while my extra work became my full employment. I quit my job, started my business and haven't looked back.

    There are people on the forum who would (perhaps rightly, depending on your thinking) use all of their available money to pay off debt, citing its expense as the reason. The logic being, if your debt is at, say 5% but your bank only pays you 0.1%, it's better value for money.

    I get that, but I think there is something else at play.

    Psychologically, it helps if we can see some kind of positive in life, and a growing saving pot is that. Additionally, if you use all of your available money to pay off debt, when 'life' happens and you have car costs etc, you've got no spare money and end up having to use debt to cover life costs.

    Ergo - you remain in debt.

    This is my thinking behind wanting to accrue some savings along the way. I obviously want to clear the debts, which is why I am here, but I have some debts set up on repayment plans already (they aren't accruing any interest) and feel that rather than overpay too much it would be better to overpay a smaller amount and save with the rest. I somehow feels more of a positive, rather then just the correction of a negative

    It's in a normal account. I use it as a cash buffer for the business. Given the returns even from an ISA are terrible, I keep my cash at hand for business use and save the excess in the stock market where the dividends and share price growth means there are real returns.
    So I typically buy big, boring companies that pay a regular dividend. I do have a few growth shares (small companies you buy cheaply and gain a return from the shares going up in value).

    I'm not willing to gamble on companies I don't really understand, so to give you a roundup of the kind of companies I own shares in....

    Money Supermarket (who own this very site!)
    Vodafone
    Centrica (owns British Gas)
    NCC (Online security - had them years, bought them when the shares were pennies!)
    RBS (bought just after the collapse, so they are worth A LOT more than I paid for them!)
    National Grid
    Lloyds Bank (again, bought after the collapse)
    Tesco (again, after the accounting scandal)

    I like big, stable companies and often buy when something goes wrong. If the business is fundamentally sound but is going through a bad patch, I buy them. Often the price is a temporary blip and given I tend to hold onto share for years, the prices always recovers in time.

    I started through my bank. I bank with HSBC and use their 'Share Dealing' option. I can't remember if I had to register for the account or not (I started investing a few years ago) and I only buy shares when I see a company I like at a price I like.

    I always re-invest the dividends too.

    It's actually really fun (if you make good decisions that is!) Always do your research and only invest what you don't need.

    Hope that helps!
    Originally posted by Exerbusi2
    Thank you for the advice about the shares. I will definitely look into it as it is something I have wanted to do for a while. I think it is something my husband would like to get involved in too. I am trying to get him more involved in the finances so this would be an interesting and positive way to do this, rather than it just being all doom and gloom clearing debt.

    Thank you
    • Exerbusi2
    • By Exerbusi2 26th Feb 17, 8:03 AM
    • 232 Posts
    • 152 Thanks
    Exerbusi2
    No problem at all, Mel.

    Here's the thing - make sure you DO IT! Don't just 'look into it' - take some positive action!

    You'll be glad you did.
    Loan 5000 0; Overdraft 700 0
    Savings 0 +1500; Share Portfolio 0 +4000
    0 Credit Card 6800 1700
    • Exerbusi2
    • By Exerbusi2 26th Feb 17, 8:09 AM
    • 232 Posts
    • 152 Thanks
    Exerbusi2
    What a fantastic response Exerbusi2 - lots of brotherly love going on here between you and I. Must say that I enjoyed Hull last week.
    Originally posted by zippygeorgeandben
    There is quite the bromance isn't there eh?!

    As for Hull, I've never been there but heard it's a nice place and actually a bit of a surprise when you're there!

    I rang Sainsburys today, they have told me to resend the loan stuff to them as they haven't yet received it (sent on the 4th Feb!) and then I might do what you suggest.
    Originally posted by zippygeorgeandben
    What a pain in the backside eh? I'd ask for an email address and see if you scan the info over. That's what I'd do. The will have received the info, it's probably lost in a massive office!
    I did actually speak to Tesco and Zopa about 3 weeks ago about a F&F and yes I wrote it all down, it was like 500 off each debt basically.
    Originally posted by zippygeorgeandben
    That's great news then - to save a grand on them collectively is pretty huge!
    I'll be updating my signature on the last working day of this month so it'll be 5 months to the day when i had my LBM. Is it sad that I'm excited for that day?
    Originally posted by zippygeorgeandben
    Sad? Absolutely not! It's going to be a great moment where you'll be able to look back on what you've achieved so far!
    Loan 5000 0; Overdraft 700 0
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    • zippygeorgeandben
    • By zippygeorgeandben 26th Feb 17, 10:10 AM
    • 503 Posts
    • 571 Thanks
    zippygeorgeandben
    I feel bad for hijacking your diary though Exerbusi2 so would you like me to start my own instead?!
    My partner owes me roughly 500 but he earns less than me and I know that he cannot afford to pay it back so I think I might let that one slide.
    Someone has contacted me regarding 3 of my candles and offered me 39 for 3 of them. They will come and collect them too. They probably cost me around 48 and I know they aren't going up in value. When someone comes and collects though it's great because a) I have zero transport, postage, packaging costs (not just money but time as well, bit like 'webuyanycar' sometimes time is more precious) and to get 39 on ebay would mean be attempting to sell them for 45 (then take off their charges).
    Have a great Sunday
    End Sep 2016 End April 2017
    8236.57 6670.91
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    6185.75 1779.78 (Zopa 4.0%) 85.00pcm

    5344.50
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    2000.00 (Sister 0%) 133.33pcm

    Total debt
    19.766.82 13,844.69 Original DFD May 2019.
    • Exerbusi2
    • By Exerbusi2 26th Feb 17, 11:28 AM
    • 232 Posts
    • 152 Thanks
    Exerbusi2
    Oh I don't mind you hijacking my thread at all - it's purpose is to serve as inspiration/ideas. It's also a place where I dump a few of my personal finance thoughts!

    Selling the candles sounds like a good idea. Are you doing that through Facebook? How has the person seen them? It may be worth having a count around the house to see if there's anything else you can sell!

    I have a weight lifting belt I want to sell (too much wine meant I bought the wrong one!) I think I might do that on Facebook. There's also a few other bits I can sell on there too.

    Yesterday I went through my wardrobe and will give a lot to charity. I could sell most of the stuff - some of it even has tags! I quite like the karma boost of giving it away though! Plus, I'll never wear these clothes, but they'll make someone else really happy.

    So, jobs for today (apart from exercise and being a Dad taxi) are to cook, have a look at things I can sell then get those listed!

    If I could raise 50-100 from that, it's all going on the CC!
    Loan 5000 0; Overdraft 700 0
    Savings 0 +1500; Share Portfolio 0 +4000
    0 Credit Card 6800 1700
    • zippygeorgeandben
    • By zippygeorgeandben 26th Feb 17, 2:26 PM
    • 503 Posts
    • 571 Thanks
    zippygeorgeandben
    Phew - you don't mind so that's good.
    I've just attempted to do that whole 'quoting parts of the person's reply' and replying to individual bits (just like you do so well!) but it got the better of me!

    I've put some candles on a Facebook East London buying/selling group and some other candle pages but I don't drive and they are quite heavy to take to the post office. Plus, noone insures against glass and I would just steer clear of it all and see if people will come and collect.
    I own about 400 candles. The RRP is 23.99 so it's quite a valuable asset. They are also a bit like Lego in pricing, in that they don't really depreciate and some I have go for about 80-100 each. I'm accepting offers of between 13-15 though for some of them. If someone is willing to drive to London, they'd get a really good deal if they bought a load of them.
    End Sep 2016 End April 2017
    8236.57 6670.91
    (Tesco 4.8%) 222.61pcm
    6185.75 1779.78 (Zopa 4.0%) 85.00pcm

    5344.50
    3394 (Sainsburys 0% until 06/19) 76.00pcm
    2000.00 (Sister 0%) 133.33pcm

    Total debt
    19.766.82 13,844.69 Original DFD May 2019.
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