Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • dipdap
    • By dipdap 1st Oct 14, 1:22 PM
    • 6,002Posts
    • 88,240Thanks
    dipdap
    Working towards being debt free, a new house and now beyond!
    • #1
    • 1st Oct 14, 1:22 PM
    Working towards being debt free, a new house and now beyond! 1st Oct 14 at 1:22 PM
    This could be a long post with a lot of rambling as I'm not sure where to start.

    Me and DH currently owe £26,059 (I know right down to the penny what we owe ) and are working our backsides off to clear it all away
    This is only a fraction of what we originally owed. I've decided to post on here (it's taken me 18 months since I joined mse to finally feel confident enough to write everything down on here) as I need it to serve as a reminder to me to keep ploughing through this debt as we both really want that end goal.

    I'll start at the beginning way back in 1999.
    We did as many people have in their twenties and ignored our parents advice and spent money we didn't have. I finally realised the extent of our debt when i signed up to check our credit reports in 2009 (for both me and DH) and saw in black and white the amount we owed. My memory is a little hazy but a recent calculation has set the figure at £68,000 in early 2009. This was the peak of our debts and i was a figure I've been scared to utter for many years since. Nobody knows exactly how bad we were, just me and after a few months DH (I initially kept it to myself while i tried to get my head round everything).
    Like many other people I have no idea where some of it has gone (3 brand new cars over the years account for quite a bit).
    On top of that we have a house which was bought for £30,000 many years ago and after remortgaging a few times (yes I know how stupid it was) the mortgage ended up at £100,000

    Seeing this written down makes me feel sick but I've felt the need to post it here to serve as a reminder to myself and DH that we will not make the same mistake again down the line.
    I set myself up a spending diary in January 2013 (back then it was a little notebook, today I have a 2014 diary) which documents every penny we spend and all money that comes in.
    I've just totted up how we've handled our debt in the last 5 years (using the free to access credit report)
    *edited to include a couple more years *

    2009 = £63600
    2010 = £62200
    2011 = £55200
    2012 = £47900
    2013 = £37600
    2014 = £26000
    2015 = £7520
    2016 = £2500

    In the last couple of months we've had an agreement in principle on the mortgage for the new house we want to buy (new build, not very mse i know) and we have about £38k in equity in this house, so the new mortgage is on the proviso that we clear all our debts before we move (I know a mortgage shouldn't be used to clear debts, but we're happy to go down that route as any spare money when we move will be used to overpay and bring down the balance).

    Sorry for rambling, we have gone it alone in clearing off the debt, I've posted on here as money recently has become less tight as monthly commitments have been removed. I don't want us to become complacent, we can keep working on this debt

    I wish I'd posted this at the start of last year, but at the same time I just couldn't bring myself to write it down
    Last edited by dipdap; 05-01-2017 at 10:50 AM. Reason: Adding new figures
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2017 # 102 = £4,700 / £13,000 36% paid
    Saving for Xmas 2017 = PP £50 TCC £128 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
Page 34
    • dipdap
    • By dipdap 6th Sep 17, 10:38 AM
    • 6,002 Posts
    • 88,240 Thanks
    dipdap
    Good morning diary.
    Well the kids are finally back to school and peace has returned to the Dipdap house

    Outstanding debts for the end of August

    CC1 £7,700
    CC2 £900
    CC3 £0
    Car loan £6,160

    Total debt £14,760

    Still not going down very quick
    Need to do more overtime!
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2017 # 102 = £4,700 / £13,000 36% paid
    Saving for Xmas 2017 = PP £50 TCC £128 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 17th Sep 17, 7:04 AM
    • 6,002 Posts
    • 88,240 Thanks
    dipdap
    Hello diary
    Why is it people always want money!
    HMRC have written to us to say we owe them for overpaid tax credits (that's what we get for me changing job to try and earn more money )
    The worst bit is trying to get them to stop paying you! Every time they recalculate what we're entitled to the system seems to pay us more money we end up having to pay back.
    I wish this debt busting was easier, the way it's going we won't be debt free until 2020!
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2017 # 102 = £4,700 / £13,000 36% paid
    Saving for Xmas 2017 = PP £50 TCC £128 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • abba1772
    • By abba1772 18th Sep 17, 12:49 PM
    • 3,970 Posts
    • 11,845 Thanks
    abba1772
    I've just changed hubby's job details with tax credits and it's filling me with dread in case they over pay us.........they also informed me they don't have any of hubby's employment details for the past year even tho hmrc sent us letters confirming his new work placement as the payroll department were using his new tax code ......go figure xx

    Hope your tax credit overpayment isn't too much xx
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £4792.52
    POAMAYC 2011 £6382.66 POAMAYC 2012 £5000.78
    POAMAYC 2013 £3480.04 POAMAYC 2014 £4085.14
    POAMAYC 2015 £7565.24 POAMAYC 2016 £8000.90
    POAMAYC 2017 £6028.69 / £6000
    • dipdap
    • By dipdap 24th Sep 17, 6:22 AM
    • 6,002 Posts
    • 88,240 Thanks
    dipdap
    Morning diary hey Abba
    Weighed myself yesterday and I've put weight in again so back to the beginning! Need to stop eating junk food!
    Hopefully now the kids are back at school I can finally have some me time with some peace and quiet
    DH has been doing more overtime and he's paid more than me so hopefully that makes a difference to clearing these credit cards.
    Looking at booking a holiday for next year, so one of the credit cards may go back up again have found a week at a holiday park for around £1,000 which doesn't seem too bad for all of us
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2017 # 102 = £4,700 / £13,000 36% paid
    Saving for Xmas 2017 = PP £50 TCC £128 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 26th Sep 17, 9:38 AM
    • 6,002 Posts
    • 88,240 Thanks
    dipdap
    Morning diary
    Feeling more optimistic today
    Payday on Friday got a grand total of £46 to get us through until then
    Luckily I've paid all the important bills so hopefully nothing unexpected comes up.
    Would be nice to get the total debt down to £14,000 by the end of the month
    Hopefully there's a nice big overtime payment on payday
    Current weight 14st 10lb need to get this down!
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2017 # 102 = £4,700 / £13,000 36% paid
    Saving for Xmas 2017 = PP £50 TCC £128 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 29th Sep 17, 10:35 AM
    • 6,002 Posts
    • 88,240 Thanks
    dipdap
    Outstanding debts for the end of September

    CC1 £7,600
    CC2 £700
    CC3 £0
    Car loan £6,050

    Total debt £14,350

    Have thrown everything we can at it this month.
    Managed to get it down by around £400.
    Not brilliant but if we can keep it going, it's good momentum I suppose
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2017 # 102 = £4,700 / £13,000 36% paid
    Saving for Xmas 2017 = PP £50 TCC £128 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 8th Oct 17, 9:00 AM
    • 6,002 Posts
    • 88,240 Thanks
    dipdap
    Hello diary
    Well things are looking up here (touch wood)
    I've had 2 jobs for a while and my second job seems to be quite busy at the moment
    Keeping fingers crossed it stays that way as the extra money is coming in handy (it's not much but it helps )
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2017 # 102 = £4,700 / £13,000 36% paid
    Saving for Xmas 2017 = PP £50 TCC £128 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • abba1772
    • By abba1772 8th Oct 17, 4:37 PM
    • 3,970 Posts
    • 11,845 Thanks
    abba1772
    That's great news fingers are firmly crossed for you xx
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £4792.52
    POAMAYC 2011 £6382.66 POAMAYC 2012 £5000.78
    POAMAYC 2013 £3480.04 POAMAYC 2014 £4085.14
    POAMAYC 2015 £7565.24 POAMAYC 2016 £8000.90
    POAMAYC 2017 £6028.69 / £6000
    • dipdap
    • By dipdap 21st Oct 17, 9:49 AM
    • 6,002 Posts
    • 88,240 Thanks
    dipdap
    Good morning diary.
    Our debts going backwards this month
    We've booked a beach holiday in the U.K. for next year to treat the kids (we've not been on a proper week long holiday in over 5 years) so that's set us back £1,000 but we've decided we can afford it in the long run and it's a treat we all deserve.
    After we booked that we had to order 2 new beds and mattresses for the older kids (the old ones are over 10 years old) as they can't sleep in the old creaking ones with springs everywhere any more so that's set us back a good chunk of money too
    In total this month I think the overall debt as gone up by £2,000 which isn't the direction we wanted to be going in.
    I know we will get it down eventually, debt free by Xmas 2018 is now my goal.
    On the flip side our savings currently sit at £8k so that makes the debt less scary
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2017 # 102 = £4,700 / £13,000 36% paid
    Saving for Xmas 2017 = PP £50 TCC £128 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • abba1772
    • By abba1772 21st Oct 17, 1:52 PM
    • 3,970 Posts
    • 11,845 Thanks
    abba1772
    Ooooooohhh are you going anywhere nice ???

    At least you know why you're debt is going up ........I'm the same Xmas 2018 I hope to get my debt gone .....doubt it tho xx
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £4792.52
    POAMAYC 2011 £6382.66 POAMAYC 2012 £5000.78
    POAMAYC 2013 £3480.04 POAMAYC 2014 £4085.14
    POAMAYC 2015 £7565.24 POAMAYC 2016 £8000.90
    POAMAYC 2017 £6028.69 / £6000
    • dipdap
    • By dipdap 21st Oct 17, 9:56 PM
    • 6,002 Posts
    • 88,240 Thanks
    dipdap
    Ooooooohhh are you going anywhere nice ???

    At least you know why you're debt is going up ........I'm the same Xmas 2018 I hope to get my debt gone .....doubt it tho xx
    Originally posted by abba1772
    Hey Abba
    Hopefully we can both do it for next year, will be a very long time coming!
    We're going down to Cornwall for a week, nice chalet in a caravan park not to far to the beach I don't mind a self catering holiday, I prefer a bit of home from home (plus it's cheaper!)
    Some of our kids have never been to the beach so I'm proper excited about taking them
    Hoping to fit in a couple of days visit to a theme park as well (early booking offers starting already) would be lovely if we can fit that in too. It's not usually break the bank expensive and the kids love going.
    Hopefully 2018 turns into a much better year for us.
    I'm ever hopeful of that lottery win to solve all my problems
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2017 # 102 = £4,700 / £13,000 36% paid
    Saving for Xmas 2017 = PP £50 TCC £128 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • abba1772
    • By abba1772 21st Oct 17, 10:29 PM
    • 3,970 Posts
    • 11,845 Thanks
    abba1772
    Hey Abba
    Hopefully we can both do it for next year, will be a very long time coming!
    We're going down to Cornwall for a week, nice chalet in a caravan park not to far to the beach I don't mind a self catering holiday, I prefer a bit of home from home (plus it's cheaper!)
    Some of our kids have never been to the beach so I'm proper excited about taking them
    Hoping to fit in a couple of days visit to a theme park as well (early booking offers starting already) would be lovely if we can fit that in too. It's not usually break the bank expensive and the kids love going.
    Hopefully 2018 turns into a much better year for us.
    I'm ever hopeful of that lottery win to solve all my problems
    Originally posted by dipdap
    Better start putting the lottery on then
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £4792.52
    POAMAYC 2011 £6382.66 POAMAYC 2012 £5000.78
    POAMAYC 2013 £3480.04 POAMAYC 2014 £4085.14
    POAMAYC 2015 £7565.24 POAMAYC 2016 £8000.90
    POAMAYC 2017 £6028.69 / £6000
    • dipdap
    • By dipdap 3rd Nov 17, 11:55 AM
    • 6,002 Posts
    • 88,240 Thanks
    dipdap
    Outstanding debts for the end of October

    CC1 £7,500
    CC2 £1,700
    CC3 £0
    Car loan £5,940

    Total debt £15,140

    Unfortunately total debt has gone up by £800 but our holiday is all paid for
    On the plus side I've sent £400 to the credit cards this morning so by the end of the month we should be back where we were at the end of September (if not better)
    Roll on the day we hit the £10k target
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2017 # 102 = £4,700 / £13,000 36% paid
    Saving for Xmas 2017 = PP £50 TCC £128 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 3rd Nov 17, 1:09 PM
    • 6,002 Posts
    • 88,240 Thanks
    dipdap
    Good afternoon diary
    I have had the house to myself today, so have caught up on all my paperwork, had a cuppa next door and am now about to throw myself in the bath
    Still working flat out 6 days a week at work, the overtime money is coming in handy but won't last for ever (hopefully till after Christmas)
    Hoping we can find some extra money to book a trip to a theme park for a couple of days next year, same as we have done the last couple of years. The kids really love doing that trip.
    Won't be getting the debt anywhere near £10k by Christmas now, getting it to begin with a 13 would be great.
    Right, cup of tea and bath time. It's the little things I enjoy
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2017 # 102 = £4,700 / £13,000 36% paid
    Saving for Xmas 2017 = PP £50 TCC £128 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 14th Nov 17, 10:28 PM
    • 6,002 Posts
    • 88,240 Thanks
    dipdap
    Evening diary.
    I've been having a look around online at our mortgage account and I found we can change our mortgage payment online (hadn't realised how easy it was)
    I've just round our mortgage payment up to the next hundred pounds so we will be paying a bit extra off each month.
    It says it can easily be reversed back to the original figure.
    All our debts are on 0% and manageable so I figured a bit extra towards the mortgage wouldn't harm anyone
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2017 # 102 = £4,700 / £13,000 36% paid
    Saving for Xmas 2017 = PP £50 TCC £128 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • abba1772
    • By abba1772 15th Nov 17, 11:10 AM
    • 3,970 Posts
    • 11,845 Thanks
    abba1772
    I can't wait until I can start over paying my mortgage xx
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £4792.52
    POAMAYC 2011 £6382.66 POAMAYC 2012 £5000.78
    POAMAYC 2013 £3480.04 POAMAYC 2014 £4085.14
    POAMAYC 2015 £7565.24 POAMAYC 2016 £8000.90
    POAMAYC 2017 £6028.69 / £6000
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

886Posts Today

6,835Users online

Martin's Twitter