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    • castlelough
    • By castlelough 8th May 13, 11:06 PM
    • 271Posts
    • 752Thanks
    castlelough
    Over the Rainbow and Happy Ever After
    • #1
    • 8th May 13, 11:06 PM
    Over the Rainbow and Happy Ever After 8th May 13 at 11:06 PM
    So, that's what I'm aiming for - over the rainbow, where the skies are blue, the clouds have silver linings and we get our happy ever after.

    I had my LBM in July 2012, when my husband and I were turned down for a mortgage. We are building a house on our own land (farm) and are half-way there. We felt certain the bank would lend us the money we needed (€80,000) to finish the build. Particularly as we own the site and had already invested €90,000 ourselves.
    But the reality was we had run up short-term debts of €18,000+ and had no savings left.

    And so the first obstacle we need to tackle is our debt (or most of it). We recently approached a different bank and have been advised to:

    1. Clear the credit card - currently standing at €2154.58
    2. Clear the small loan - currently standing at €960.35.
    3. Save up an 8% deposit - which would be €6,400.

    I plan to have cleared the debt to the Photographer (from our wedding in July 2011 ) by our second wedding anniversary.

    I think I can have the credit card and the small loan paid off by early August, and between myself and Mr. Castle I have estimated that we can save the deposit by November.

    Once the mortgage has been secured I will tackle the remaining debt. I would love to have that cleared by my 35th birthday in April 2014. This debtfree wannabe business is taking over my life, and I just want to get to the finish line and be 'happy ever after' in our own home.

    I will really appreciate any encouragement and support received along the way. I'm not at all sensible, and have only recently begun to see the error of my spendthrift ways .

    xxx Castle
    Last edited by castlelough; 08-05-2013 at 11:09 PM. Reason: Forgot to subscribe!
    Current DFD: Sept 2017
    Car Loan: €3000 €1800; Credit Card: €1000 €5980.53;
    Kitchen: €16600 €746.22** Total: €20600 €8526.75 **
    Emergency Fund savings: €0/3000
    Mortgage: Feb 2014 €80,000 €75,272.59
    Mortgage End Date:Feb 2044 Dec 2043
Page 8
    • castlelough
    • By castlelough 19th Mar 17, 5:12 AM
    • 271 Posts
    • 752 Thanks
    castlelough
    Signature updated! Despite the credit card splurge my overall debt balance is lower than it was back in August. It's such a shame about the cc as I would have been on track to being debt free on target by Sept 2017.
    With a bit of hard work I think I could still get there by Christmas 2017, although I must take into account my plans to take parental leave in Sept/Oct which would be unpaid. We'll see about that. The savings pot is completely empty.
    Current DFD: Sept 2017
    Car Loan: €3000 €1800; Credit Card: €1000 €5980.53;
    Kitchen: €16600 €746.22** Total: €20600 €8526.75 **
    Emergency Fund savings: €0/3000
    Mortgage: Feb 2014 €80,000 €75,272.59
    Mortgage End Date:Feb 2044 Dec 2043
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