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
    • Whoknowskt89
    • By Whoknowskt89 16th Feb 17, 8:28 PM
    • 199Posts
    • 451Thanks
    Whoknowskt89
    Small loan but want it gone!
    • #1
    • 16th Feb 17, 8:28 PM
    Small loan but want it gone! 16th Feb 17 at 8:28 PM
    Hi all!

    I thought I'd join to see if I can make sure I keep up with my target to get my loan cleared within a year.

    I started the loan last may, opening balance of 3205!
    Was meant to be 36 months but I'm down to 18 months and 1760 left already!

    I use to spend around £1.80 a day on cold drinks at work and more if I forgot my lunch which was a regular habit.
    I've now started buying crates of cola and just take them into work with me now.
    I know I could save more by buying cheaper drinks/drinking water or buying 2litre bottles but the work fridge is pretty small and I'm not in enough debt to make me change my life style completely.

    There's a possibility of a temp promotion at work and if I get one, the extra money will be used to go straight to the loan apart from 1 planned treat of a tattoo.
    If this happens, even with the tattoo the loan would be cleared in around 6 to 7 months!

    Wish me luck!

    Edit: 22/02/17

    Goals for next few years....
    Pay off loan by 2017 - 15661455/3205
    Up emergency fund 668/2000
    Don't touch premium bonds (500)
    Save for selling / moving fees 0/7500
    Save for diy/furniture etc in next house 0/8000
    Try to overpay the mortgage a little bit 0/2000
    Last edited by Whoknowskt89; 24-02-2017 at 10:32 AM.
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
Page 3
    • Whoknowskt89
    • By Whoknowskt89 24th Feb 17, 10:31 AM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    I get paid on Tuesday and I'm going to try to stick to the below spends for March

    £150 extra to loan
    £110 food/cat stuff
    £80 nights out
    £25 DIY stuff needed

    I've got a few days off next month as my cats are being neutered so I'm going to hopefully have some time free to do some more decorating in my flat.
    I've got some broken tiling in my flat due to a leak but I fixed it myself (yay for no plumber charges) but still haven't fixed the tiling and I'm out of grout and adhesive and I do need to do a lot of sanding and painting.
    Car is also booked in for the MOT (money already in my ' yearly bills' account) so just hoping it passes or is cheap to fix.

    That budget still leaves me with £100 + unaccounted for but any extra can go to the loan. This isn't accounting for petrol but I don't use a lot and this way I *could* treat myself to a take out or cover unexpected things without panicking I'm going over budgets etc.
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • dottydebts
    • By dottydebts 25th Feb 17, 9:25 AM
    • 71 Posts
    • 175 Thanks
    dottydebts
    Dotty - I do it this way with some money as it means I have access to it if I've forgotten something important or something comes up but by not being in my current account I 'forget' about the money.... well I remember but I don't think of it when I'm deciding if I really 'need' that new top or throw etc.
    If something comes up, I can transfer it back and use it but if it doesn't, the debt comes down.
    Originally posted by Whoknowskt89
    I think this is exactly what I need to be doing! I have a separate account which I am building up funds in to pay off the dreaded overdraft (I have learned the hard way just keeping it in my current account does not work) but sending extra to another account so I have the money there 'just in case' sounds like a fab idea
    18.02.17 - £4,040.19 18.03.17 - £3686.19
    18.04.17 - TBA

    • Bobarella
    • By Bobarella 26th Feb 17, 2:09 AM
    • 10,320 Posts
    • 66,151 Thanks
    Bobarella
    Ah, bulldog bash. I went when it got really big and wasn't much of a fan but they have scaled it back quite a bit.
    Was nice to have a drag strip at a rally though!

    Too true. She loves the sound of her own voice and tried to get right to manage on a block with flats and businesses which isn't possible though apparently she deals with management agencies and leasehold law a lot...
    Originally posted by Whoknowskt89
    Yes that's right! Happy days
    "You're not rich until you have something money can't buy."

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £52.96 2016-£62.28 2015- £84.20)
    RYSAW17 £1530.02 2016 £2,535.16 2015 £1027.20
    • Whoknowskt89
    • By Whoknowskt89 26th Feb 17, 9:12 AM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    Well, my mates tattoo was moved to yesterday and spent the day with her getting it done and I must say it is amazing and the lady is an amazing artist. So much so that I've booked mine in with her for March.
    Spent a tenner yesterday treating my mate to lunch and today I've got to take my kittens to the vets for microchipping but that's already paid for with my healthy pet plan.
    Really can't wait to get more ink now, it's been 9 years now! I know it's not very money saving but every now and then you need to treat yourself.
    Got it booked in for a day after what was a planned night out so does mean I'll spend less at the night out as won't be drinking alcohol.
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • Whoknowskt89
    • By Whoknowskt89 27th Feb 17, 7:34 PM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    I think today is a typical Monday.... Long and irritating!
    Forgot to defrost the quorn ham so had to buy lunch today but was out of change in my pocket so not counting this as a spend! My budgets go purely on account money and I only withdraw cash for specific nights out/when I'm going somewhere I know I can't use my card.
    I did manage to get a free bottle of cola with priority moments on my way home from work though. It didn't even tempt me to buy anything else :-) pay day tomorrow so I can pay off more of my loan.
    Got some confusion over what's going on with my flat as apparently I'm in the way of plans for the building but I've heard nothing from the actual owners (leasehold flat) or management agents!
    Never mind..

    TV, cats and chocolate it is!
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • Whoknowskt89
    • By Whoknowskt89 28th Feb 17, 7:12 AM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    Payday!!!!
    Just transferred £100 to my loan so it's at £1549... Under a year and already over half gone!
    The interest will be added tomorrow though and my usual payment taken but that normally takes a few days to show up.
    Did get my supermarket delivery early (yesterday) as there was some offers on my usual bits that expired yesterday, though some didn't come off so called them up and getting £4.25 refunded :-D
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • Whoknowskt89
    • By Whoknowskt89 28th Feb 17, 5:23 PM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    I got my (temporary) promotion!!!!!!!
    Last edited by Whoknowskt89; 28-02-2017 at 5:26 PM.
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • Whoknowskt89
    • By Whoknowskt89 10th Mar 17, 10:18 PM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    Oo I've been quiet....

    In this time...

    Been approved for my 0% credit card
    Kittens been neutered
    Car passed mot after some fixes £200! Spent on the car today

    No more sent to my loan but should have enough food except some fresh stuff for the rest of the month, got £120ish left unaccounted for and only got to get my mum something for mothers day.
    Do have my tattoo money as well but I feel I feel I deserve a little treat and should still come on budget this month and I have overpaid by £100 already.
    Going to move my loan to credit card, 4% fee but cheaper than the interest minorly.

    Now to go make cake for friends visiting tomorrow!
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • Whoknowskt89
    • By Whoknowskt89 12th Mar 17, 3:16 PM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    Got my car insurance renewal through for £505 but managed to stick to my company for £410. All my quotes were coming out at £480ish online so I called them and said I had a quote for £420 from x unlinked company, they managed to match and then managed to get another £10 off! That's with £0 excess (online changing excess saved maybe a tenner a year!)
    My bike insurance renewal came through too for £390!!! As an incident was showing as open but managed to get that for £213.84!
    All in all, my insurances are £100 less than what I budgetted for, meaning my car repairs haven't eaten as much of my buffer money as I thought.

    I've applied to get money transfer to settle my loan so fingers crossed that'll go through properly and then it'll be on 0%!

    Did have a cheeky letter through from my new management agents asking for £253! Despite having an email from the last confirming I was paid up until end of June. One phone call and that was all sorted out and received in writing that I owe nothing.

    Cakes and fajitas went down nicely for my friends, they helped me sort out some diy too so now I can retile the fixed leak area in my bathroom.

    Everything just seems to be coming together this month
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • Bobarella
    • By Bobarella 12th Mar 17, 11:50 PM
    • 10,320 Posts
    • 66,151 Thanks
    Bobarella
    I got my (temporary) promotion!!!!!!!
    Originally posted by Whoknowskt89
    Congrats
    "You're not rich until you have something money can't buy."

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £52.96 2016-£62.28 2015- £84.20)
    RYSAW17 £1530.02 2016 £2,535.16 2015 £1027.20
    • Whoknowskt89
    • By Whoknowskt89 18th Mar 17, 9:16 AM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    Thanks Bobarella.
    Well, ended up getting a surprise amount from Halifax as they never paid me my reward payment for my credit card!
    I've moved £1370 from my loan to 0% credit card so that's now £1424 due to the feed.
    The remaining money has just been paid and loan closed (£84.99) so no more loan!
    My friend was meant to go with me for my tattoo today but she has cancelled as she's too hang over apparently but never mind!
    Just so pleased things are getting so low loan wise.
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • Whoknowskt89
    • By Whoknowskt89 29th Mar 17, 3:13 PM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    Seen my new wage slip with the promotion money and it'll really help me pay off my debt and get to saving.
    According to my calculations my debt will be clear June 30th!
    That would mean just over a year to pay off a loan that was meant to be 3 years long!!
    My TV is on the way out, speakers are starting to go and it's a plasma TV I bought off my parents when they upgraded their TV. It's not an energy efficient TV at all (235w an hour!!) and I watch a lot of TV or have it on for back ground noise so in August I'm going to treat myself to an A+/a++ energy rating TV!
    This will be out of money that would have gone to savings. I do have 0% purchases on my credit card but would rather the balance go down and I've got the money in my emergency fund but the TV is still working and isn't essential now.

    Hope anyone that popping by is doing OK!
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • Whoknowskt89
    • By Whoknowskt89 31st Mar 17, 12:40 AM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    Payday!!!
    I've done my usual money shuffle to my yearly bills, christmas and also one for some money for download festival (friends have bought me a ticket to say thank you for things)
    Also just paid £300 off my credit card.
    I've decided that any extra money that I could send to credit card this month will instead go to my savings as there's no interest for over 2 years and the amounts wouldn't be enough to make it a month earlier that it is cleared.
    Got my sister spending the night Saturday as she is in the area for a hen do... Got to meet her at the station drive her to her friends then pick her up at stupid o'clock as I don't feel comfortable letting my sister walk the 15 minutes here as she doesn't know the area. I'm definitely getting the bad end of this deal.
    Sunday I'm driving her home and then visiting the family as I didn't last weekend so I doubt Sunday will be a NSD.
    Today after work I must go get some more bin bags and a few cleaning bits but shouldn't be spending too much. I've already got the chocolate in for a film on the sofa Saturday :-)
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • Hillwalker17
    • By Hillwalker17 1st Apr 17, 11:00 AM
    • 56 Posts
    • 82 Thanks
    Hillwalker17
    Well done on the temp promotion

    That's a fair bit of extra cash that you wouldn't normally have. Make sure you use some of it to treat yourself though.. Well I suppose the festivals is just that

    Only 3 months until your debt free if i'm reading that right? That's amazing

    Think of all the spare cash you will have when it is paid off. Oh how I wish I was that close

    Good job so far, keep it going.

    HW17
    Ex Gambling Addict - Last bet made on 15/03/2017 - 29 Days
    Slowly building an emergency fund - £1000/£6000
    • Whoknowskt89
    • By Whoknowskt89 1st Apr 17, 11:16 AM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    Thanks hillwalker!
    Yep 3 paydays and it'll be gone! Though after that it's a new TV then saving like mad so I can get a freehold house.
    I can't really complain as I do have a flat but the service charges are extortionate and I miss having a garden or parking.
    It may not be 3 months for you but you'll get there!

    Really hoping I can get a permanent promotion but even if I don't it'll be enough to clear the debt and get a new TV.

    Flats pretty much tidy ready for my sister and there's chocolate and energy drinks in the fridge so I don't fall asleep waiting for the ' come pick me up ' call at stupid o'clock.
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • enthusiasticsaver
    • By enthusiasticsaver 1st Apr 17, 11:25 AM
    • 3,194 Posts
    • 5,291 Thanks
    enthusiasticsaver
    Well done on clearing the loan so quick and sensible to move it to 0% credit card as long as the fee covered the interest you would have paid. Hope the credit card reduces as quickly. You seem very much on the ball with budgeting so sure you will soon be debt free. Management fees on leasehold properties are a pain. Mind you the maintenance of freehold houses is expensive too so swings and roundabouts.
    Debt and mortgage free and saving for early retirement
    • Whoknowskt89
    • By Whoknowskt89 1st Apr 17, 11:30 AM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    Thanks enthusiastic.
    The fees here are around £1500 a year! That's for a building where the carpet in communal hallways is threadbare in places and lifting that they put up trip hazard signs, the communal hallway is never cleaned properly despite there being a caretaker for the whole building here full time hours (mix of businesses and flats) graffiti on show internally they haven't sorted, a hole in a wall in the hallway.....
    Oh and they always forget my bedroom window when cleaning as it's the only one on one of the sides of the building.
    Not exactly big problems but there's 19 flats....
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • Whoknowskt89
    • By Whoknowskt89 2nd Apr 17, 8:09 PM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    Ah soo glad the weekend with my sister is over.
    I really wonder how 2 sisters so close in age brought up the same can be so different.
    I mentioned I'm saving for a new TV and will probably have a nice new one in August and her response was just put it on a credit card and pay it off and once the deal ends you can just balance transfer it to another card. Then she went on to say how she's just about to pay the last payment for her holiday this year and she put doing up the garden and furniture on her credit cards and that she needs to buy a new car soon so that'll be going on credit...
    This after a scare this week that her boyfriend was going to be made redundant (he's safe, some of his colleagues aren't)
    Spent £22 filling up the car, got half a tank left but that should do me the whole month now car wise.
    Got a belated Christmas present off my brother of £30 but owed my mum £20 for vets bill for the rats which she kept when I moved out but RIP they're all gone now.
    Came home from my parents with tonnes more shampoo and conditioner my mums gone off, a tassimo machine, new cat scratching post and some drinks she bought for me ages ago so not too bad really.
    My sister did give me £5 for petrol though so not too spendy of a day really.
    Now must go find something to cook for dinner.

    Hope everyone is doing OK!
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • Whoknowskt89
    • By Whoknowskt89 6th Apr 17, 10:04 AM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    6th of April, £355 in my account and only £31.90 of bills to come out and £90 in cash.
    I do owe a friend £14 for adding 6kg of cat food to one of her online orders and will need a tank or 2 of petrol in the motorbike this month.
    Got my rally so need to grab a few things for that (few drinks, batteries for my air bed pump etc) which I may go grab tonight but otherwise I won't be needing much and hopefully will have more money to split between my yearly bills account buffer (used some for car repairs which is what it's partly there for) and my emergency fund.
    Already upped it to £700 this month :-)
    I would love to put an extra £50 in each account but time will tell!
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
    • Whoknowskt89
    • By Whoknowskt89 6th Apr 17, 7:03 PM
    • 199 Posts
    • 451 Thanks
    Whoknowskt89
    Argh decisions!
    For about a year I've been looking for a new small tent for motorbike rallies as most of the time the weather is dodgy and a little porch is great for sitting in and space for my motorbike lid and leathers etx whilst there.
    I've found a Vango omega 250 which with renewal of my go outdoors card and price matching... £121. I could get it but then no extra to savings (£50ish to savings this month already and £300 to credit card already)
    Question is do I treat myself or not????
    Any help would be appreciated!!!
    Mortgage £68,137
    Pay off loan by xmas 2017 - GONE started May 2016 finished March 2017 £3205
    Credit card 0%£1120 £1424!!!
    Emergency fund £731/£1000
    Savings aim (including EF fund) Jan 2018 £3050 Jan 2019 £9450
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

4,875Posts Today

9,018Users online

Martin's Twitter