Running out of time! Trying to get debt free & house ready by June 2016

cyberthrifty · 22 December 2014 at 1:08AM

Fingers crossed for you. You are obviously focussed and know exactly what your goals are and that should help you to stick to them!

DFWannaBee · 21 January 2015 at 11:23PM

Just a quick update!

Work situation is rubbish - had another meeting with them and they're not budging i go back full time or I need to resign. We've spoke about it lots and they're an awful company to work for and I would be so unhappy leaving my baby 5 days a week in childcare and the costs would outweigh the majority of what I would earn anyway so as of March I am jobless. Going to look for something part time that means we have a better home balance for her. Bad financially but personal wise I feel a lot less stressed knowing I don't have to go back there and feel that this is best for our family in the long run so I'm at peace with it. Really toying with the idea of setting myself up in business but no idea where to start, I know what I want to do thats not the issue but how to actually get going with it I'm clueless - need to research this.

Finance/Debt related - I received the last of my SMP last month so this month I am getting paid all the holiday my work owes me up to this month so I should be getting nearly 6 weeks worth of money paid to me tax free (mat pay hasn't taken me anywhere near the 10k tax threshold as i went just at the start of the new tax year) This I'm hoping if its what I think it will be will pay off our OD which is our biggest debt and one of the DCA debts also. Will update next Friday once I get paid with how it all goes!

DFWannaBee · 2 February 2015 at 9:49PM

So lots has changed! Lots of plans mostly but have also had a nice little boost to the debt payoff!

First and foremost!
The debts update

Nationwide - £85 - PAID IN FULL OCT 13
New Look - £160 - PAID IN FULL OCT 13
Littlewoods - £255 - PAID IN FULL OCT 13
Wonga me - £937 - PAID IN FULL DEC 13
Wonga hubby - £505 - PAID IN FULL JAN 14
Capital 1 me - £387 - PAID IN FULL JAN 14
Capital 1 hubby - £590 - PAID IN FULL MAR 14
Next - £403 - PAID IN FULL MAY 14
Me Very/NDR - £654.75 aug14 £347.81 dec14 PAID IN FULL DEC 14

Halifax OD - [STRIKE]£1550 dec14[/STRIKE] PAID IN FULL FEB15 :T:eek::T:j:T:j:eek::T

Hubby Very - [STRIKE]£991 dec14[/STRIKE] £775 feb15
Debenhams/Lowell - [STRIKE]£801 dec14[/STRIKE] £796 feb15
Lloyds/Capquest - [STRIKE]£725 dec14[/STRIKE] £596 feb15

That overdraft I can not explain how amazing it feels to be shot of that! I was owed holiday from my employer because of my mat leave which was paid to me and paid directly to the overdraft. Thats one huge chain round my neck gone and feels fantastic!

So we've made a massive dent in the debt payoff which is fab and going to carry on with the momentum - any extra is going straight to the debt at the moment, feel like we're so close to being debt free!

I officialy resign from my job this month which although financially isn't great, personally it feels like I'm making the right choice. Also meeting with an accountant this week to discuss setting up in business on my own which is exciting. In light of these developments with my work though we've decided to put house buying on the back burner for the forseeable. Its just not achievable for us at the minute to get a deposit together. We live in Essex where house prices are stupidly high for where we need to live and with the credit ratings taking a hit for the debt problems even if we could get a 5%deposit mortgage we're still looking at 10k and have to be out of our flat by next summer latest so its just not feasible. We're ok with that though for the minute. Going to focus on our family for the minute, I'd love another baby soon and having the pressure off me to work full time is worth more than owning a house. So hopefully a move to a nicer/bigger house is on the cards for this summer once we're debt free.

DFWannaBee · 2 March 2015 at 12:28AM

Nationwide - £85 - PAID IN FULL OCT 13
New Look - £160 - PAID IN FULL OCT 13
Littlewoods - £255 - PAID IN FULL OCT 13
Wonga me - £937 - PAID IN FULL DEC 13
Wonga hubby - £505 - PAID IN FULL JAN 14
Capital 1 me - £387 - PAID IN FULL JAN 14
Capital 1 hubby - £590 - PAID IN FULL MAR 14
Next - £403 - PAID IN FULL MAY 14
Me Very/NDR - £654.75 aug14 £347.81 dec14 PAID IN FULL DEC 14
Halifax OD - £1550 dec14 PAID IN FULL FEB15

Hubby Very - [STRIKE]£991 dec14 £775 feb15[/STRIKE] £520 mar15
Debenhams/Lowell - [STRIKE]£801 dec14 £796 feb15[/STRIKE] £791 mar15
Lloyds/Capquest - [STRIKE]£725 dec14 £596 feb15[/STRIKE] £570 mar15

Saver-upper · 2 March 2015 at 1:38AM

DFWannaBee you have done sooooo well.You are SMASHING through those debts!Amazing.
How are plans for new business venture going?You really didn't need the stress of going back to your old job.Family is more important.As I am sure you have heard a million times,babies grow up soooooo quickly (I know-I have 4 children,and I still don't know how I have been a mum for nearly 13 years already!)
Good luck.I shall be cheering you on :j.

DFWannaBee · 1 April 2015 at 4:00PM

Saver-upper wrote: »

DFWannaBee you have done sooooo well.You are SMASHING through those debts!Amazing.
How are plans for new business venture going?You really didn't need the stress of going back to your old job.Family is more important.As I am sure you have heard a million times,babies grow up soooooo quickly (I know-I have 4 children,and I still don't know how I have been a mum for nearly 13 years already!)
Good luck.I shall be cheering you on :j.

Hi!! I thought I was talking to myself

The new venture is going really well so far! Its building slowly, just trying to get my portfolio built up, struggling with how to price my work but I'm sure I'll iron it all out soon. Have registered as self employed and have an accountant so all feels very real and grown up! Its just so much better though being able to choose what days I work and do my editing in the evenings once shes in bed so if I can carry on with the momentum that i've got at the minute, I'm hopeful this will work out!

So update as of 1st April!

We've been so very lucky of late, a couple of small windfalls and savings have meant we've really dented this debt and we got another on the other day when I got my final paycheque from my job of the holiday they owed me and they also owed me time in lieu which I totally forgot about so this was extra meaning we're almost there now :eek::eek:

Nationwide - £85 - PAID IN FULL OCT 13
New Look - £160 - PAID IN FULL OCT 13
Littlewoods - £255 - PAID IN FULL OCT 13
Wonga me - £937 - PAID IN FULL DEC 13
Wonga hubby - £505 - PAID IN FULL JAN 14
Capital 1 me - £387 - PAID IN FULL JAN 14
Capital 1 hubby - £590 - PAID IN FULL MAR 14
Next - £403 - PAID IN FULL MAY 14
Me Very/NDR - £654.75 aug14 £347.81 dec14 PAID IN FULL DEC 14
Halifax OD - £1550 dec14 PAID IN FULL FEB15
Hubby Very - [STRIKE]£991 dec14 £775 feb15 £520 mar15[/STRIKE] PAID IN FULL MAR 15
Lloyds/Capquest - [STRIKE]£725 dec14 £596 feb15 £570 mar15[/STRIKE] PAID IN FULL APR 15

Debenhams/Lowell - £801 dec14 £796 feb15 £791 mar15 £751 apr15

Running out of time! Trying to get debt free & house ready by June 2016

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