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  • FIRST POST
    • Sholly
    • By Sholly 7th Jan 13, 11:10 PM
    • 162Posts
    • 645Thanks
    Sholly
    It's kind of fun to do the impossible
    • #1
    • 7th Jan 13, 11:10 PM
    It's kind of fun to do the impossible 7th Jan 13 at 11:10 PM
    I like doing the impossible. Or at least trying it. It motivates me and, to be honest, I like to prove people wrong!! It's not that I'm argumentative (much ), I'm just determined.

    I'll just set the scene, if you don't mind. I'm 18. My friend is 19 and wants to buy a house. I have my own dream to buy somewhere but I have no money so, for the minute, I'll just nab one of her rooms. So we go into an estate agents and they treat us like we're 5. They just don't want to know. I hated that feeling of being laughed at. Like they were giggling to each other as we left. My friend is now 28. She hasn't bought anywhere yet, maybe they put her off, but, not me; it just made me more determined and I started saving like mad! Weeks before my 21st birthday I became the very proud owner of a 3 bed upper flat. I paid £86,500 for it but I love it! So that was 2007, a matter of months before the banks crumbled. I sometimes think that if I'd waited a few months I could've got a great deal but the reality is that I probably wouldn't have been granted a mortgage at all.

    So, enough of the past. The situation as it now stands: as of mid-December 2012, I owe £71,100 and I have a debt of £6,000 (0%). I've cleared a large amount of debt (I was paying more in bills/childcare than I earned) so far but I don't know what it was at it's height. I am aiming to be debt-free (£6k credit card debt) by Christmas 2013. I'm being mega-strict and eBaying, Music Magpie-ing so much that I start to think that maybe I don't need a bed, or doors, or sofas but then I remember that I do have some basic human rights!!!! Once this debt has been obliterated, I'll then be focussing all of my efforts on paying off my mortgage. My aim is to have it paid off by 30.06.18 (my son's 10th birthday).

    My dream? Security. That's it. I want to feel that what I have is mine. I've worked hard for what I have and the thought that someone could come and take it all away terrifies me. I want my home to be secure for myself and for my son (I'm sure he'll feature in this diary at some point!). I want him to see me going to work everyday and working hard so that we can have a comfortable life. I've dreamt about the day that we owe nothing and I can see it being a goood day! That day, I want to take him to the travel agent and book the most amazing holiday (okay, so one more dream!); I want to take him on safari but I also want to help to build a school (or houses etc) whilst we're there so that I can ensure he values what he has and knows how lucky he is.

    Anyway, if you're still reading, thank you! Please feel free to contribute to my journey and keep me sane when I'm eating brown rice and peas just so that I can make that tiny overpayment!!

    Sholly x
    Last edited by Sholly; 08-01-2013 at 12:09 AM. Reason: Spotted a spelling mistake...thought I'd got 'em all!!
    DFW and MFW
    Debt free target: April 2018
    10 months to go
Page 8
    • Kittenkirst
    • By Kittenkirst 5th Jan 17, 1:07 PM
    • 1,431 Posts
    • 7,076 Thanks
    Kittenkirst
    Fab to see the joint debt really plummet good luck for the next few months at chipping away at the debt too x
    Emergency savings- £3195. /£4000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1441.10/ £2150. 67%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £71.17
    • Sholly
    • By Sholly 5th Jan 17, 2:01 PM
    • 162 Posts
    • 645 Thanks
    Sholly
    Fab to see the joint debt really plummet good luck for the next few months at chipping away at the debt too x
    Originally posted by Kittenkirst


    Thank you Kittenkirst. The joint debt has been hanging around since we bought our house 2 years ago, I'll be really glad to see that one go! And then my spreadsheet is going to have to work overtime for the next year!


    xx
    DFW and MFW
    Debt free target: April 2018
    10 months to go
    • Sholly
    • By Sholly 1st Feb 17, 4:02 PM
    • 162 Posts
    • 645 Thanks
    Sholly
    February update
    Hello February!


    Joint debt: £2,050...two more payments to go!
    My debt: £17,730.46...12 months to go!


    My February pledge: to not spend any money on non-essential items. I spent £466.41 on "stuff" last month - OH's birthday present, signing up for a couple of races, dentist, interview clothes (didn't even get the job, grr!) - I need that money for debt busting!


    Sholly xx
    DFW and MFW
    Debt free target: April 2018
    10 months to go
    • Sholly
    • By Sholly 6th Mar 17, 12:38 PM
    • 162 Posts
    • 645 Thanks
    Sholly
    March means one more payment from the joint debt, and only one payment left :-) There's still my own debt to go, but this one feels like it has been hanging around for ages...well, it's been 3 years really so it has been far too long!


    The figures today:


    Joint debt £1,025
    My debt £17,272.70
    Total £18,297.70


    I didn't updated my diary as much as I have done recently, so I looked back a page and there was a post from 14/03/16. My figures from this time last year were...


    Joint: £16,475.68
    My debt: £16,889.76
    Total £33,365.44


    That's £15,067.74 gone in a year - that makes me happy and proud in equal measure


    A year to go and hopefully my own debt will be gone.


    Happy debt-slaying.


    Sholly x
    DFW and MFW
    Debt free target: April 2018
    10 months to go
    • Sholly
    • By Sholly 4th Apr 17, 9:32 AM
    • 162 Posts
    • 645 Thanks
    Sholly
    April is here!
    April 2017 has arrived which means that the joint debt has GONE!! I've also made an extra payment to my debt too which brings it down to a round £17k.


    Joint debt £0
    My debt £17,000.00
    Total £17,000.00
    DFW and MFW
    Debt free target: April 2018
    10 months to go
    • Sholly
    • By Sholly 23rd May 17, 9:39 PM
    • 162 Posts
    • 645 Thanks
    Sholly
    May
    My update is a little late this month, but the debt-busting is still going on...here are the figures:

    Total debt £15,890

    I'm paying over £1,000 a month now so the figures pass milestones quickly - it feels like it's really going well but I've been really trying to keep an eye on our spending this month - we spent a shocking £267.70 on eating out last month - that's really, really terrible. I've been much stricter this month and will have to be if I am to pay off my debt by March next year. On the plus side, I found out that I will be getting an unexpected bonus this year...just in time for littlies birthday so that's a relief! The money left over will be paid off the debt.


    Sholly x
    DFW and MFW
    Debt free target: April 2018
    10 months to go
    • Sholly
    • By Sholly 22nd Jun 17, 9:17 AM
    • 162 Posts
    • 645 Thanks
    Sholly
    June update - how hard is it to get a balance!
    I don't mean a bank balance, I get that every morning! I mean, how hard is it to balance between paying off debt and living. For example, we bought our house in early 2014 and it was a wreck - we went back to brick and started again. We did the bulk of the work but ran out of money to finish it properly so we've just been doing little bits now and then. We're sick of having a garden that we can't use so we're trying to fix it up...but spending money causes so much anxiety! I feel like I shouldn't be doing it and I should be paying off debt instead, but if we do the garden we'll be much more inclined to stay home and use it, and it is an eyesore at the moment. But I also think that life is just too short to just stay home and pay off debt all of the time. I'm totally conflicted! Anyway, we're doing all of the garden work ourselves so that will keep costs down and we're trying to be very careful with how much we spend every month.


    Debt figure for this month:


    £15,729
    DFW and MFW
    Debt free target: April 2018
    10 months to go
    • Sholly
    • By Sholly 22nd Jun 17, 9:19 AM
    • 162 Posts
    • 645 Thanks
    Sholly


    Debt figure for this month:


    £15,729
    Originally posted by Sholly

    Note: £991 is coming out of my bank over the next few days, that is why the figure from last month hasn't changed too much! Maybe I should go back to doing my updates just after payday!
    DFW and MFW
    Debt free target: April 2018
    10 months to go
    • Sholly
    • By Sholly 27th Jun 17, 2:42 PM
    • 162 Posts
    • 645 Thanks
    Sholly
    27/06 update:


    New figure £14,729
    DFW and MFW
    Debt free target: April 2018
    10 months to go
    • Cream Tea
    • By Cream Tea 16th Jul 17, 9:48 PM
    • 398 Posts
    • 1,900 Thanks
    Cream Tea
    Just caught up. That's a very impressive amount to pay off in 12 months. Keep up the amazing work. I'm back on it! Look forward to reading more from your mission.
    CT
    Mortgage £269,432 £263,631 / MF date June'49 June'49
    Debt £26,809/£26,652 / Debt Free Est. July'21

    Updated 20/7/17
    • Kittenkirst
    • By Kittenkirst 16th Jul 17, 10:02 PM
    • 1,431 Posts
    • 7,076 Thanks
    Kittenkirst
    Great progress there Sholly!

    When I have wobble moments of 's*d it! Life's too short!' I try to remind myself if how all the little bits add up and how much freedom we will have in future when the figures are lower
    Emergency savings- £3195. /£4000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1441.10/ £2150. 67%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £71.17
    • Sholly
    • By Sholly 17th Jul 17, 12:46 PM
    • 162 Posts
    • 645 Thanks
    Sholly
    Great progress there Sholly!

    When I have wobble moments of 's*d it! Life's too short!' I try to remind myself if how all the little bits add up and how much freedom we will have in future when the figures are lower
    Originally posted by Kittenkirst


    Thank you!


    Oh, I definitely go through those phases!...So I try to do both with is very hard work! I can't wait to have no debt - it seems like a dream at the moment though.


    xx
    DFW and MFW
    Debt free target: April 2018
    10 months to go
    • Sholly
    • By Sholly 17th Jul 17, 12:50 PM
    • 162 Posts
    • 645 Thanks
    Sholly
    Just caught up. That's a very impressive amount to pay off in 12 months. Keep up the amazing work. I'm back on it! Look forward to reading more from your mission.
    CT
    Originally posted by Cream Tea


    Hi CT!


    Thank you!


    I think I fell of the MSE waggon for a bit so I'm trying to focus again now. I'm trying to spend as little as I can in July so we'll see how that goes - so far so good! How are you doing?


    xx
    DFW and MFW
    Debt free target: April 2018
    10 months to go
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