Learning to budget to make future adventures happen

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  • JoJoC
    JoJoC Posts: 1,836 Forumite
    Good grief, what a fabulous few days! You will be out of this debt in no time at all and can get started on that bucket list!

    Care to share what's on there? I like a bit if goal inspiration ;)
    CC1: £4481.14/ £5031.14 (12% paid off, £600) | CC2:£3307/ £3807 (14.4% paid off, £550) | Loan: £10,528.20/ £15,792.30((33% paid off, £5,264))

    July debt total: £24,630.44 | New debt total: £18,316.34 | Total debt paid: £6,414.10 (26%)
    *My debt busting and savings diary*
  • crunch_time
    crunch_time Posts: 1,353 Forumite
    Moneywhizz wrote: »
    You are making great progress paying off your debt. Don't want to put a dampener on things but have you checked that the email from hmrc is genuine. I have received several emails from them saying that I was due a refund but it was a scam. Apparently they don't inform you of tax refunds by email. This could be completely different circumstances though. Just check it out.


    Thanks for the heads up moneywhizz but no this is good and proper. He had done his tax return and it came up with that amount but we didnt want to believe until we saw it.
    19/8/19 vs now Current Total debt £14,188 Savings £2757
    Overdraft £1600 vs £1050
    HSBC1 £1900 vs £3868
    HSBC2 £4100 vs £3730
    Virgin 1 £3050 vs £2800
    House stuff and improvements £4460 Virgin 2 £2740
  • crunch_time
    crunch_time Posts: 1,353 Forumite
    Evening all!

    £3k went in today and was swiftly transferred to the loan.

    Cant believe we are well under £10k now - £7882 to be precise!

    Just waiting for the money from the parents now. Hopefully this week.

    Crunchy xx
    19/8/19 vs now Current Total debt £14,188 Savings £2757
    Overdraft £1600 vs £1050
    HSBC1 £1900 vs £3868
    HSBC2 £4100 vs £3730
    Virgin 1 £3050 vs £2800
    House stuff and improvements £4460 Virgin 2 £2740
  • WowWee brilliant news!

    So generous of your parents to give you some money early, mine do there bit too - a lovely Cherry and Almond cake this week!

    H x
  • Oh that's great news. Your loan will be gone before you know it and you can start on that bucket list. Just think of all that you will be able to do with the money you have been paying to the debt. It will be such a great feeling.
  • crunch_time
    crunch_time Posts: 1,353 Forumite
    JoJoC wrote: »
    Good grief, what a fabulous few days! You will be out of this debt in no time at all and can get started on that bucket list!

    Care to share what's on there? I like a bit if goal inspiration ;)

    I definitely will - stay tuned!!

    Crunchy xx
    19/8/19 vs now Current Total debt £14,188 Savings £2757
    Overdraft £1600 vs £1050
    HSBC1 £1900 vs £3868
    HSBC2 £4100 vs £3730
    Virgin 1 £3050 vs £2800
    House stuff and improvements £4460 Virgin 2 £2740
  • louby40
    louby40 Posts: 1,505
    First Anniversary First Post Combo Breaker
    Forumite
    Fabulous news! So happy for you. My DF date is July - we could have a race to the finish!
  • crunch_time
    crunch_time Posts: 1,353 Forumite
    louby40 wrote: »
    Fabulous news! So happy for you. My DF date is July - we could have a race to the finish!

    That would be great Louby! Looking at my spreadsheet, if I snowball the loan first and then the credit card im looking at August as a debt free date but that doesn't take into account any over payments that's just the £850 a month. Id love to be debt free before DS is 5 in June so yes lets race to the finish!!

    Crunchy xx
    19/8/19 vs now Current Total debt £14,188 Savings £2757
    Overdraft £1600 vs £1050
    HSBC1 £1900 vs £3868
    HSBC2 £4100 vs £3730
    Virgin 1 £3050 vs £2800
    House stuff and improvements £4460 Virgin 2 £2740
  • crunch_time
    crunch_time Posts: 1,353 Forumite
    Morning all

    First day of half term for me!! DD is napping so I'm spending this time writing lists, checking bank balances and getting organised for the week ahead.

    I've worked out that we could be debt free just by £850 a month minimum payment by August after the additional £2k is taken off the loan but hoping to cut that down to debt free by June 2017.

    I should have £450 left after everything is accounted for after i get paid on Friday but the husbands car needs to get through its MOT and needs new tyres and a windscreen which husband SHOULD book today. I have also received the car tax for it - £60 so will pay that today as we have a little money left in our accounts.

    Once the car is sorted i can chuck the remainder at the loan and hopefully get it down to £3000 by the end of February. I then want to clear it by the end of April.

    Our windfalls are awesome news and are making the husband and I think about what we want to do next with our money. Although we are not making any definite plans and won't until its paid off thoughts so far include building a proper £1k emergency fund and then saving 3 months of expenses. We also need to check our pensions and set them on the long road for retirement. This worries me the most as husband has lots of catching up to do.

    For now until payday my aim is to spend as little money as i can doing free things with the kids and getting organised at home.

    Very much looking forward to the £2k landing in my account!!

    Off to make another coffee! Have lovely days ya'll!

    Crunchy xx
    19/8/19 vs now Current Total debt £14,188 Savings £2757
    Overdraft £1600 vs £1050
    HSBC1 £1900 vs £3868
    HSBC2 £4100 vs £3730
    Virgin 1 £3050 vs £2800
    House stuff and improvements £4460 Virgin 2 £2740
  • crunch_time
    crunch_time Posts: 1,353 Forumite
    Right,

    Done some working out this evening and figured out the following.

    Loan
    Currently £5200.
    End of Feb £5200 - £2000 - £850 = £2350
    End of March £2350 - £850 = £1500
    End of April £1500 - £850 = £650
    Mid May - call for a settlement figure and pay it off when husband gets paid at the end of May.

    Meanwhile chuck everything else at the credit card - the £1800 part of it and hope it ends at the same time - not the table and chairs.

    To start this off I rounded the CC down to £1800.

    Gunning for a debt free date of 1st June 2017!!!!!!!

    Lets do this!!!

    Crunchy xx
    19/8/19 vs now Current Total debt £14,188 Savings £2757
    Overdraft £1600 vs £1050
    HSBC1 £1900 vs £3868
    HSBC2 £4100 vs £3730
    Virgin 1 £3050 vs £2800
    House stuff and improvements £4460 Virgin 2 £2740
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