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  • FIRST POST
    • MERFE
    • By MERFE 4th Feb 16, 10:39 AM
    • 1,828Posts
    • 5,827Thanks
    MERFE
    Two thirds of the way there, final hurdle
    • #1
    • 4th Feb 16, 10:39 AM
    Two thirds of the way there, final hurdle 4th Feb 16 at 10:39 AM
    Not kept a diary before, I'll be honest it has taken me a lot longer than it should have to pay off the first 2/3 of our debts. It's been very slow and steady and loooooong, about 7 years. In that time we will have added on occasions for change of cars, things the kids needed or just the odd slip of feeling lifes too short.

    What has changed now, well whilst I had a LBM about 7 years ago my husband didn't and I hate to always be saying no. It felt like having another child. We had a massive upheaval in 2014 when our landlady wanted to increase our rent by 200 a month with one months notice. This is what has changed him, he doesn't want to be spending 4-500 every month repaying debt.

    So with this in mind and to keep on the straight and narrow for this final stint we have made some huge changes. We have moved closer to his work to cut out commuting, we have cancelled our tv and landline and we are getting some chickens and growing our own veg.

    Our money is probably a bit complicated, when I had my lbm and was cutting out all luxuries to try to repay asap and hubby wasn't on board it was tricky. So he gets an allowance each month, it's 120 and he pays for his mobile plus a credit card he has for some reason and then the rest is his. The credit cards in my signature are the ones I sort repayments for. The only other debt we have is a car loan which is due to be repaid in July, once this goes the other repayments are going up.

    We had a big knock with tax credits in Nov when they cut our payment by 250 a month, this has made things really tight for Christmas and birthdays for the kids especially. So I am looking for a job but there is not a lot out there for the hours I could do, but I will keep trying and hopefully this thread can keep me motivated.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
Page 8
    • MERFE
    • By MERFE 15th Jan 17, 8:20 PM
    • 1,828 Posts
    • 5,827 Thanks
    MERFE
    I've booked a sun holiday for easter hols, probably work out the same as taking them out each day anyway, so hubby gets a peaceful weeks sleep, then the 2nd week of the easter hols has the bank holidays in so only a couple of days I have to take them out or keep them quiet.

    About 20 of stuff has sold on ebay, no big purchases but listed lots more over the weekend and got plenty of watchers for the bits ending in the next couple of days so could go up a bit.

    Received a 10 voucher for a survey I did in Nov, putting it away towards Christmas. Did another in January so should get another one probably around March time.

    I have been shopping today after writing a meal plan and shopping came to 46 for the week, for 5 of us. We didn't need any toiletries only toilet roll so it wouldnt be so low every week but shows I could definitely lower the 70 it has been. Done a meal plan for next week already too.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
    • Moneywhizz
    • By Moneywhizz 16th Jan 17, 9:09 AM
    • 116 Posts
    • 442 Thanks
    Moneywhizz
    The new Isa looks like a good way of saving for a deposit. It must be hard to save while paying for a private rental, but if you know what your goal is, it makes it easier to cut back and put as much as you can into savings. Good luck with your plans and with job hunting.
    • MERFE
    • By MERFE 16th Jan 17, 10:25 AM
    • 1,828 Posts
    • 5,827 Thanks
    MERFE
    Thanks Moneywhizz

    I wouldn't say the private rental makes saving difficult (although endless moves with fees each time doesnt help). Kids make saving difficult. They are always growing, they break things, they lose things. Eldest has lost her coat, not impressed at all. But I now have a rule with them that if they break it or lose it it comes out their pocket money, if they outgrow it I replace it. I have given her this week to find it, if not shopping on Saturday and no pocket money for a while.

    Halifax CC now under 3000, feels good to see it going down.

    I am going to have a go at updating my CV as not much should change between now and the summer when I want to look at changing jobs. Although I am wondering if I did go back to something else what would I do with the kids in the holidays. Something to think about. Might have to do a year with OH taking opposite holidays but it still wouldnt cover them all. My dad has offered to have the older 2 for summer before so that is a possibility but still the youngest to think about. Will worry about that if I find something.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
    • MERFE
    • By MERFE 18th Jan 17, 10:08 AM
    • 1,828 Posts
    • 5,827 Thanks
    MERFE
    Back from the post office had a few to post. 58 on ebay not bad, it all adds up. Still got a fair bit listed but will try and list some more today.

    We are going to change upstairs around so youngest 2 have our room and we go in the middle size room. Reason being OH thinks he sleeps better in their room. They only have 1 small window whereas the one we have has a window at the front and the back. Also when the kids are out at the school at lunchtime you can hear them though the back window, especially in summer when you want it open.
    So OH was looking for storage for them because they have a built in wardrobe at the moment but I have managed to reorganise our clothes so they can have our drawers and may be able to declutter and then they can have our shelves too. I really dont want to be buying any furniture right now. We are living with clothes rails since the last house has built in wardrobes but they do the job and wardrobes dont move well so I would rather wait till we are in the forever house to buy anymore.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
    • MERFE
    • By MERFE 21st Jan 17, 1:57 PM
    • 1,828 Posts
    • 5,827 Thanks
    MERFE
    Moved the kids room round with ours. It's made me realise how much I have to get rid of with my craft supplies, there's lace, ribbon, embellishments, fabric, felt, glitter fabric, elastic, dies, stamps. Then there are the displays I used for at fairs. I also have a massive pile of outgrown clothes too, boys and girls. I might have to try and do them as bundles, been doing individual items but its taking so long and now we need the space back.

    Got my other food survery voucher so 20 saved for extras at Christmas and I've been religiously doing swagbucks so that is close to payout as well.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
    • MERFE
    • By MERFE 28th Jan 17, 5:26 PM
    • 1,828 Posts
    • 5,827 Thanks
    MERFE
    Was thinking about seeing what was left at the end of the month to make MBNA overpayment but I think that way the money get spent as extra and just disappears. So paid an extra 200 off instead. 125 was the council tax payment we don't have this month and another 75. There may be more at the end of the month but doubt it with DS residential to pay for. It is all heading the right way though.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
    • MERFE
    • By MERFE 19th Feb 17, 3:03 PM
    • 1,828 Posts
    • 5,827 Thanks
    MERFE
    Seriously pricey half term. Had to go to a hen night that ended up spending more than I planned. There is a reason I rarely go out anymore, how much are the drinks. Was good fun though. Took the kids out a couple of days, one to a castle so that just cost petrol as we have english heritage membership and once to swimming. Then eldest had a birthday day out to the cinema with a friend. The rest of the time they played with friends and helped get the allotment ready. It really doesn't seem like I spent alot. I haven't used the birthdays savings for DD day out or presents though and since that was the most money spent I guess I should transfer it back to my account.

    Been keeping up the meal plans, sent OH to the shops because I didn't feel 100% and he has come back with loads of short dates on things. Thankfully some can just be frozen. Will have to do one more shop before payday, I wanna keep it down to 50 max.

    5 weeks in March so need to allow a little extra and will be getting more oil which has gone up loads since last year. So doubt we will have much extra for over payments nect month. Only whatever sells on Ebay.

    Holiday first week of april, just me and the kids, just to haven. Hoping for some nice weather to make the most of the beach or we will just spend all the time in the swimming pool. Shouldn't need alot of extra spending money.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
    • MERFE
    • By MERFE 3rd Mar 17, 2:22 PM
    • 1,828 Posts
    • 5,827 Thanks
    MERFE
    Woo below 4000 left to pay now.

    We went to look at a flat, 3 bedrooms, 150 a month less than we pay. So would pay off the debt sooner and save more for the deposit to buy but cost of moving, hassle etc Didn't feel worth it. The flat looked like there would be some issues with as well as it was old, even though it was very nicely decorated and had a proper bath (we only have a shower here), the windows didn't look like they opened and there was alot of hallway and high ceilings so I think it would cost alot to heat. At least there are options if we have to move out but at the moment it's probably best to move the kids less.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
    • MERFE
    • By MERFE 31st Mar 17, 3:47 PM
    • 1,828 Posts
    • 5,827 Thanks
    MERFE
    Under 1000 left on the MBNA now, slowly getting there.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
    • louby40
    • By louby40 1st Apr 17, 7:40 PM
    • 883 Posts
    • 2,312 Thanks
    louby40
    Well done Merfe on getting below 1000!
    Parents585 DF July 17 Sealed Pot Challenge 10 #572 Debt free by Xmas(july) 17 #32 2857/3442
    Car loan 4024. Mortgage 97,770
    • parsniphead
    • By parsniphead 2nd Apr 17, 12:39 PM
    • 1,804 Posts
    • 11,868 Thanks
    parsniphead
    Hi MERFE

    I have just read through your diary this morning. It's very motivating and I look forward to following your journey to debt freedom.

    Parsnip
    Pay off debt by Christmas 2017 #22 - 1012.22/7148.39 14%
    I have already lost touch with a couple of people I used to be. Joan Didion
    • MERFE
    • By MERFE 8th Apr 17, 6:30 PM
    • 1,828 Posts
    • 5,827 Thanks
    MERFE
    Been on our sun holiday to haven, spent more than I planned but then I think I was unrealistic about how much we needed. Luckily we have it spare this month but I was hoping to pay even more off the MBNA. We've been so lucky with the weather this week too so lots of time was at the beach, no spending there. Would definitely book again, I think the Sun holiday only worked out about 30 cheaper than booking direct as well so may go same time next year. Missed hubby but he enjoyed his peaceful sleep. Only need to take the kids out 3 days next week so he can sleep, if the weather is still good that should be easy.

    Doing a car boot tomorrow, hoping to declutter alot and make back some of that extra we spent on holiday.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
    • MERFE
    • By MERFE 9th Apr 17, 2:03 PM
    • 1,828 Posts
    • 5,827 Thanks
    MERFE
    Car boot went really well, took 124 home after pitch fee and OH spent 5. Kids had a few quid each too but the real bargain was middle child got himself a wave board for 2, he had asked for one for his birthday and I was looking at 50 for one so now he can get something else. Was well worth doing. Have organised everything that is left as well so getting those bits listed on ebay should be easier.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
    • MERFE
    • By MERFE 30th Apr 17, 1:44 PM
    • 1,828 Posts
    • 5,827 Thanks
    MERFE
    So all the 0% offers are due to run out in June and july, we got an offer on OH barclaycard for 0% with only 0.9% transfer fee which I thought was quite good. We have transferred everything to the one card. This includes OH halifax card that I hadn't been keeping a track of because it wasn't a joint debt and was all his. This means we have only 1 payment coming out now but the balance is 6249 - So bascially back to where I started the thread. That's a little disheartening but it all needs to be gone and I think it'll be gone faster with me looking after it than him. My original DFD didn't include his card so I don't think there is any chance of it being gone by june next year. I am going to aim for december 2018, which works out about 300 a month to try and pay off. This should be doable.
    Last edited by MERFE; 30-04-2017 at 5:59 PM.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
    • MERFE
    • By MERFE 12th May 17, 11:54 AM
    • 1,828 Posts
    • 5,827 Thanks
    MERFE
    Balance transfer has all gone through. Cancelled both the halifax cards. So we now have the MBNA and OH santander for just incase or if another balance transfer is needed but hopefully not. I am back on track this month with the grocery shopping, that got a little out of control in march and april so been sticking to it tight this month with meal planning, got loads growing on the allotment too, strawberries will be ready soon.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
    • MERFE
    • By MERFE 18th May 17, 6:28 PM
    • 1,828 Posts
    • 5,827 Thanks
    MERFE
    I have a new job working full time so will be able to get the card paid off asap and saving for a deposit straight after. Going to be paid weekly but that should be fine as OH covers all the household bills. Couldn't have come at a better time tbh, will lose all our tax credits but 100 a month isn't much compared to what I can earn, be so nice not to be relying on them as well. It's amazing the difference a year makes isn't it. Didn't think I was ever going to find work this time last year.
    Barclaycard 6104/6249
    debt free by December 2018

    Savings 2100
    • Golightly72
    • By Golightly72 23rd May 17, 10:05 AM
    • 72 Posts
    • 245 Thanks
    Golightly72
    Congratulations Merfe, great news on the new job! You will have those cards paid off in no time.
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