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  • FIRST POST
    • clearmydebts
    • By clearmydebts 16th Apr 16, 12:12 PM
    • 5,881Posts
    • 17,097Thanks
    clearmydebts
    Mopping up the mess - my final debt free journey!
    • #1
    • 16th Apr 16, 12:12 PM
    Mopping up the mess - my final debt free journey! 16th Apr 16 at 12:12 PM
    Hi all! I am a fairly regular poster on here! Here is a link to my older diary: http://forums.moneysavingexpert.com/showthread.php?t=3991383&page=30


    I am 39 and we have just bought our first house (2nd time buyers, we bought a flat first!). We have been married for nearly 10 years and I've been on MSE as long as then. We now have 2 kids, aged 6 and 4 and live in Ireland.


    Some of the debts are from we lived in the UK and some are from when we bought the house 5 weeks ago (no appliances left behind so we were starting from scratch). The bad news is that the debt figure is so much. The good news is that we should have about £1000 to pay off the debt each month as that's what we were saving for our deposit. So it can be done, and it will be done!


    Ideally I would have loved to have been debt free for my 40th birthday but that's not going to happen in 9 months so my aim now is to be debt free before I turn 41, so in my 40th year.


    So how are we going to do it? Well, as I said, we should be able to pay £1000 off most months. I will also have some over-time the next few months and OH should get a decent bonus in December. All is going off the debt! I want to be able to enjoy my kids, my life and my house without worrying about debt!
    Last edited by clearmydebts; 16-04-2016 at 12:18 PM.
    Total debt (starting September 2016): £21,808
    BOI credit card: £4707
    Loan: £17,101
Page 3
    • castlelough
    • By castlelough 2nd Aug 16, 11:57 AM
    • 269 Posts
    • 747 Thanks
    castlelough
    And following x
    Current DFD: Sept 2017
    Car Loan: €3000 €2200; Credit Card: €1000 €850;
    Kitchen: €16600 €6350** Total: €20600 €9400 **
    Emergency Fund savings: €145/3000
    Mortgage: Feb 2014 €80,000 €76,806.67
    Mortgage End Date:Feb 2044 Dec 2043
    • starnac
    • By starnac 2nd Aug 16, 1:33 PM
    • 5,140 Posts
    • 23,801 Thanks
    starnac
    Wow! Well done on getting under 19k. I love breaking milestones like that. September will soon be here unfortunately so you haven't got long to wait til you are seriously debt busting. You will really batter them down once you can be totally focused.
    DEBT FREE!!!!
    Sealed Pot Challenge #307
    Save
    Save
    • clearmydebts
    • By clearmydebts 15th Aug 16, 11:07 AM
    • 5,881 Posts
    • 17,097 Thanks
    clearmydebts
    Yay I have finally tracked you down CMD! Congrats on the shiny new house and diary. You can do this! We'll travel the road together. Will catch up on diary later xx
    Originally posted by castlelough


    Thanks for the support CL. Feel like my journey is more of a meander at the moment but am looking forward to the end of Sept when I can start to throw more money at these debts!
    Total debt (starting September 2016): £21,808
    BOI credit card: £4707
    Loan: £17,101
    • clearmydebts
    • By clearmydebts 15th Aug 16, 11:12 AM
    • 5,881 Posts
    • 17,097 Thanks
    clearmydebts
    Wow! Well done on getting under 19k. I love breaking milestones like that. September will soon be here unfortunately so you haven't got long to wait til you are seriously debt busting. You will really batter them down once you can be totally focused.
    Originally posted by starnac


    Thanks Star. Won't be breaking any milestones this month, or September but looking forward to the end of Sept so I can start to make good headway with them
    Total debt (starting September 2016): £21,808
    BOI credit card: £4707
    Loan: £17,101
    • clearmydebts
    • By clearmydebts 15th Aug 16, 11:18 AM
    • 5,881 Posts
    • 17,097 Thanks
    clearmydebts
    Happy Monday everyone!


    All good here, just plodding along until payday. So many expenses for Sept. We are 10 years married so are going away for the weekend, then DD is 5 so we have a party booked for her & then need to get her a present. We have friends staying on the 23rd and then I am off to Spain for a girlie weekend on the 30th Sept. Everything for Oct and Nov is looking relatively quiet though so planning to attack the debts then.


    OH got some great news last week too. His boss rang up and said they are increasing his wages by €5k from this month onwards. So that should be about an extra €200 per month. I've decided to earmark that for holidays. We are going to Disneyland Paris next April with the family & also have BIL's wedding in Spain in Oct 2017. Disney should be paid by end of Oct pay cheque & will be a Xmas present for the kids, so won't need to buy anything too much else for them as well as that.
    Total debt (starting September 2016): £21,808
    BOI credit card: £4707
    Loan: £17,101
    • starnac
    • By starnac 15th Aug 16, 9:33 PM
    • 5,140 Posts
    • 23,801 Thanks
    starnac
    Ooh September sounds a busy one for you.

    Good news about DH's pay rise. I'd use it to pay for the holidays too I think. That way you can go guilt free knowing you havent 1. neglected the debt to go or 2.got into more debt.
    DEBT FREE!!!!
    Sealed Pot Challenge #307
    Save
    Save
    • castlelough
    • By castlelough 17th Aug 16, 4:37 AM
    • 269 Posts
    • 747 Thanks
    castlelough
    Hi CMD!
    Congrats on your DH's payrise! Good idea to earmark it towards the holidays, especially as they have already been booked and planned :-)
    September sounds expensive and busy - but also a lot of fun! It's important to enjoy the journey so don't worry about meandering. Enjoy the birthday, your guests and your weekend to Spain (very envious!) and then get your head down for a couple of months before Christmas hype hits!
    Xxx
    Castle
    Current DFD: Sept 2017
    Car Loan: €3000 €2200; Credit Card: €1000 €850;
    Kitchen: €16600 €6350** Total: €20600 €9400 **
    Emergency Fund savings: €145/3000
    Mortgage: Feb 2014 €80,000 €76,806.67
    Mortgage End Date:Feb 2044 Dec 2043
    • clearmydebts
    • By clearmydebts 30th Aug 16, 10:50 PM
    • 5,881 Posts
    • 17,097 Thanks
    clearmydebts
    Hi CMD!
    Congrats on your DH's payrise! Good idea to earmark it towards the holidays, especially as they have already been booked and planned :-)
    September sounds expensive and busy - but also a lot of fun! It's important to enjoy the journey so don't worry about meandering. Enjoy the birthday, your guests and your weekend to Spain (very envious!) and then get your head down for a couple of months before Christmas hype hits!
    Xxx
    Castle
    Originally posted by castlelough


    Thanks CL. Unfortunately just found out that our childcare bill is going up so will probably absorb all of DH's payrise. Oh well, the idea was nice while it lasted!
    Total debt (starting September 2016): £21,808
    BOI credit card: £4707
    Loan: £17,101
    • clearmydebts
    • By clearmydebts 30th Aug 16, 11:07 PM
    • 5,881 Posts
    • 17,097 Thanks
    clearmydebts
    Just paid off my basic bits and pieces so not much gone off the sig at all. We are going to look at applying for a debt consolidation loan this week. Fingers crossed we get it. I worked out that we are paying nearly £500 in interest on the credit cards every month. It is really hard to get 0% deals in Ireland and they only last 6 months. Really hope we get approved at the repayments are quite low in comparison to what we pay each month so we could probably overpay by 100% and still save some money every month. We would be able to close all our UK accounts and would get rid of most of the credit cards with very low limits on one for each of us so we can't get carried away.


    We were away for the weekend and had a lovely and very cost effective time. DD is starting school on Thursday. Am feeling sad but she is so excited it is infectious!
    Total debt (starting September 2016): £21,808
    BOI credit card: £4707
    Loan: £17,101
    • debtaghh
    • By debtaghh 4th Sep 16, 11:20 AM
    • 417 Posts
    • 1,088 Thanks
    debtaghh
    Hi,

    Just found your diary, will have a read of your old one too and have subscribed.
    Capital one balance to clear by 31st December 2016 £895/£1400

    Weight to lose by 31st October 2016 10bs/14lbs ( to weigh 10 stone 10lbs)
    • clearmydebts
    • By clearmydebts 19th Sep 16, 3:18 PM
    • 5,881 Posts
    • 17,097 Thanks
    clearmydebts
    Hi,

    Just found your diary, will have a read of your old one too and have subscribed.
    Originally posted by debtaghh
    Thanks Debtagh. As you can see I am useless at keeping a diary!
    Total debt (starting September 2016): £21,808
    BOI credit card: £4707
    Loan: £17,101
    • clearmydebts
    • By clearmydebts 19th Sep 16, 3:39 PM
    • 5,881 Posts
    • 17,097 Thanks
    clearmydebts
    Afternoon all,

    All grand here. We had DD's birthday party yesterday and it went really well. We had 20 kids in the local community centre with 2 bouncy castle and a Frozen theme. DD had a ball but I can't believe my baby is 5!

    Last week myself and OH celebrated our 10th wedding anniversary and went to what I can only describe as 'heaven on earth'. It was a 5 star spa and we never left for the weekend. Being honest it was just what we needed as we rarely get away just the 2 of us on our own. In fact the last time we were away just the 2 of us was about 3 years ago.

    Moneywise - we applied for a debt consolidation loan and got it! It will cover all the credit cards except one and my debt is going to go up unfortunately as I wasn't counting the overdrafts but I've paid them off with part of the loan. But this new figure is a proper reflection of everything so from this payday on I am going to be able to make serious dents in it.

    So drumroll. New figure is an eye watering:

    £21,808
    Total debt (starting September 2016): £21,808
    BOI credit card: £4707
    Loan: £17,101
    • clearmydebts
    • By clearmydebts 19th Sep 16, 3:50 PM
    • 5,881 Posts
    • 17,097 Thanks
    clearmydebts
    So not great really but on a positive note we are paying way less interest with the loan. We were paying about £450 interest every month because we don't get the great balance transfer credit card deals in Ireland. So now we will be paying about £100 per month and that will hopefully we going down quickly.

    We've also deferred the loan for 3 months so we can pay as much off the credit card as possible. We are still paying the odds and ends of interest from our cards and trying to close them down so from this payday onwards we should be able to knuckle down.

    I must say I feel a weight has been lifted with regards getting rid of all the cards, Now we only have 2 debts we need to focus on, which is great.

    In other money news, I did some shopping around on our car insurance and managed to get a very competitive quote, meaning we save about £300. So a good money day here today
    Total debt (starting September 2016): £21,808
    BOI credit card: £4707
    Loan: £17,101
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 19th Sep 16, 9:28 PM
    • 72 Posts
    • 104 Thanks
    little_miss_spendtoomuch
    Great news on saving on the car insurance and reducing the monthly interest.
    I know it's a pain about the balance transfer cards but it looks like you've worked out the best alternative.
    You'll get there xx
    LBM May 2015 - Total debt £11685.56 / September 2016 £6550
    Honeymoon fund: £700/£700 PAID!
    Honeymoon savings £100/£500
    Holiday 2017: £6 /£1500
    Joint house/emergency savings: £600
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 19th Sep 16, 9:29 PM
    • 72 Posts
    • 104 Thanks
    little_miss_spendtoomuch
    Oh and congratulations on the ten year anniversary! The spa trip sounds perfect x
    LBM May 2015 - Total debt £11685.56 / September 2016 £6550
    Honeymoon fund: £700/£700 PAID!
    Honeymoon savings £100/£500
    Holiday 2017: £6 /£1500
    Joint house/emergency savings: £600
    • clearmydebts
    • By clearmydebts 19th Sep 16, 10:31 PM
    • 5,881 Posts
    • 17,097 Thanks
    clearmydebts
    Oh and congratulations on the ten year anniversary! The spa trip sounds perfect x
    Originally posted by little_miss_spendtoomuch
    Thanks Little Miss!

    We had the perfect break away.

    With regards debt it does feel like we've gone backwards a bit but we can really start paying stuff off now so I'm confident it will start to show up.
    Total debt (starting September 2016): £21,808
    BOI credit card: £4707
    Loan: £17,101
    • clearmydebts
    • By clearmydebts 22nd Sep 16, 1:08 PM
    • 5,881 Posts
    • 17,097 Thanks
    clearmydebts
    Thanks Little Miss!

    We had the perfect break away.

    With regards debt it does feel like we've gone backwards a bit but we can really start paying stuff off now so I'm confident it will start to show up.
    Originally posted by clearmydebts
    Payday for OH in 2 days thank goodness. We've friends coming to stay tomorrow night so that's always more expense. My new curtains arrived from Next yesterday and I saved €60 by shopping from my UK account. Shocking how the exchange rate differs.

    October is an expensive month:
    * Car insurance is up
    * Car tax needs to be paid
    * Need to pay for sideboard and unit
    * Need to pay some money off Disneyland Paris

    I am off to Spain for a friends 40th next weekend. Can't wait! Flights are paid for and accommodation is super cheap. Am still mopping up the extra interest from the overdrafts, credit cards so won't be paying too much this month extra I don't think.

    I'll aim to be under £21k by end of Oct and under 20k by end of Dec (hopefully more if I put my head down)
    Total debt (starting September 2016): £21,808
    BOI credit card: £4707
    Loan: £17,101
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