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  • FIRST POST
    • laurag89
    • By laurag89 15th Aug 17, 4:08 PM
    • 631Posts
    • 1,235Thanks
    laurag89
    Time to clear the debt - for good!
    • #1
    • 15th Aug 17, 4:08 PM
    Time to clear the debt - for good! 15th Aug 17 at 4:08 PM
    Hello
    I am back again, this time determined to clear the remaining part of my debt. I'm 28 years old, and used to be absolutely terrible with managing money - thinking if I wanted something it was ok to borrow the money to buy it.


    I get married in June 2019, and would really like to start married life debt free!
    This is how things stand at the moment:
    First Direct Loan - £11,000 (3%)
    MBNA credit card - £1,689.83 (0%)
    Marks & Spencer credit card - £778 (0%)


    I have a mortgage which is still pretty high at the moment as we have only lived there two years, and were first time buyers so did not have a lot of deposit to put down. I do not have a huge amount of disposable income until this mortgage comes down (Deal ends in December this year).


    However I am paying £277 per month to the loan, and £25 minimum payment to my MBNA, and around £17 per month to my marks and spencer card.
    I also have another £50.00 per month I can throw at these debts at the moment.


    We have committed to a couple of holidays - I know this is a luxury and paying off my debt should be the priority but as they are booked already I am putting away £100 per month to the holiday fund at the moment, and also £100 per month to the wedding fund also per month.
    I do not want to add to my debts for the wedding or for holidays, so once I have a nice amount saved to the holiday fund (I have £500 at the moment) I can use that £100 per month to my debts.


    I want to use this diary to track my progress of paying off my debt so I will update my signature this evening, I also plan to use some of the debt free challenges to help me get this figure down aswell.
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
Page 4
    • laurag89
    • By laurag89 28th Aug 17, 8:56 AM
    • 631 Posts
    • 1,235 Thanks
    laurag89
    Have just caught up on your diary. Well done on wanting to pay up front for your wedding . Weddings are expensive no doubting that .
    Originally posted by Cumbria lass


    Thank you!
    Yeah I thought we were going to do it quite cheaply but when you start adding all the other bits on it suddenly becomes really expensive.


    If I can make it to the day without having to have borrowed for any of it, I will be extremely happy
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
    • fruitloop04
    • By fruitloop04 28th Aug 17, 1:59 PM
    • 156 Posts
    • 467 Thanks
    fruitloop04
    That is fab you won't need to borrow for your wedding, will make the day even sweeter! Good plan to get a weekend job to cover the extras for your dress, that is dedication!
    16.08.2017 CC 1 - £2050 £1,500 CC 2 - £1766.82 £1406 Emergency savings: £1250/£6000
    Mortgage - April 2017 £153,000 £149,954
    Debt free by xmas: 1070.86/1500
    (Non Mortgage) Debt Free Date: August 2018
    • laurag89
    • By laurag89 28th Aug 17, 2:16 PM
    • 631 Posts
    • 1,235 Thanks
    laurag89
    That is fab you won't need to borrow for your wedding, will make the day even sweeter! Good plan to get a weekend job to cover the extras for your dress, that is dedication!
    Originally posted by fruitloop04
    Yeah it isn't brilliant having to go in and do it sometimes but I just remember the reason I am doing the job, and not having to borrow to pay my dress is a good reason


    I just need to stick at it.
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
    • laurag89
    • By laurag89 29th Aug 17, 9:11 AM
    • 631 Posts
    • 1,235 Thanks
    laurag89
    I worked yesterday at double pay so that should be a nice £150 ish extra in my wage packet next month - guess where that is all going? Yep it's going straight to the M&S Credit card


    Working this Sunday at my second job, but that goes straight into my wedding dress fund!


    Almost at £5 on prolific academic so I can cash out and put that to my credit card as well.


    Planning to do some more surveys this evening
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
    • laurag89
    • By laurag89 29th Aug 17, 3:32 PM
    • 631 Posts
    • 1,235 Thanks
    laurag89
    Yay some good news for a Tuesday - Top Cashback has just confirmed £9.63 for some pet insurance I signed up for months ago


    As soon as that is payable it is going to my credit card, all these small amounts will get it down eventually.
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
    • laurag89
    • By laurag89 1st Sep 17, 10:20 AM
    • 631 Posts
    • 1,235 Thanks
    laurag89
    Happy Friday everyone!


    I have had a couple of busy days so have been unable to carry on with the surveys, but will get straight back onto that tonight!


    Had some good news regarding my wedding dress yesterday - due to all the detail on it when I ordered it they said there may be an extra charge to have it made to my length by the designer, but it turns out they can send it with a detachable hem at no extra cost.


    Im working again on sunday - more towards my wedding dress fund


    My loan payment of £277 came out today, but I am unable to view my loan so will be difficult to keep a check on what is remaining on it. Also have the minimum payments to come out for my two credit cards so will update my total when possible.


    I am planning to have a clear out of clothes tomorrow, and put some things on ebay/depop which will get me some extra money towards the M&S credit card
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
    • debtfreeby30_
    • By debtfreeby30_ 1st Sep 17, 7:52 PM
    • 16 Posts
    • 13 Thanks
    debtfreeby30_
    Hi Laura. I have been reading your diary. Your budgeting seems to be really under control and I could learn a few tips from you. I also read your old diary and I am currently trying to quit smoking too! I'm 27 and on and off have been smoking for years apart from when I quit for 3 years. Good luck with clearing the debt, you're doing amazing x
    • laurag89
    • By laurag89 1st Sep 17, 9:02 PM
    • 631 Posts
    • 1,235 Thanks
    laurag89
    Hi Laura. I have been reading your diary. Your budgeting seems to be really under control and I could learn a few tips from you. I also read your old diary and I am currently trying to quit smoking too! I'm 27 and on and off have been smoking for years apart from when I quit for 3 years. Good luck with clearing the debt, you're doing amazing x
    Originally posted by debtfreeby30_
    Thank you debtfreeby30!!

    Im in the same position, Im 28 now but I have struggled with smoking for years. I have moved on to Vaping now - I know its still technically smoking but its a lot less expensive. I also feel a lot less dependant on this, but don't feel like I'm missing out either. Im going to use it for a little while and then gradually cut it down to nothing, maybe just use it when I'm drinking - that is when i struggle the most.

    Good luck with it, just think of the money you will be saving and the health benefits too! I understand completely how difficult it is though, I have been there so many times.
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
    • debtfreeby30_
    • By debtfreeby30_ 1st Sep 17, 10:29 PM
    • 16 Posts
    • 13 Thanks
    debtfreeby30_
    I was going to try the vape things again but I gave up last time as I was concerned about what was in it but it can't be any worse than cigarettes I may have to order one and slowly cut down. Have a lovely weekend x
    • laurag89
    • By laurag89 1st Sep 17, 10:34 PM
    • 631 Posts
    • 1,235 Thanks
    laurag89
    I do worry about what is in them too, because there is a lot of mixed research on whether they are better or not, but I feel better - not as wheezy, and short of breath.

    I am just trying to use it as a middle ground before quitting, I have tried everything else - cold turkey, patches, gum, spray, champix tablets. None of it has kept me off of smoking.

    Try a website called vapemate they are very fairly priced.
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
    • DrSpendLittle
    • By DrSpendLittle 1st Sep 17, 11:55 PM
    • 188 Posts
    • 609 Thanks
    DrSpendLittle
    Hiya,

    Just checking in and catching up. Seems like everything is going very well! Good job on the budgeting and debt busting!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £800/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £473.73/£1,894.92
    Total CC Repayments: £2,366.07/£10,690.22 (22.13%) | Total Debt Repayments: £2,839.80/£12,585.14 (22.56%)
    • laurag89
    • By laurag89 2nd Sep 17, 12:52 AM
    • 631 Posts
    • 1,235 Thanks
    laurag89
    Hey DrSpendLittle!

    I am still posting so I have come further than previous attempts, and I am still motivated to not add anything more to debt and continue with the surveys to help me get the debt down

    I will get there eventually!

    How are you getting on?
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
    • Happierdays
    • By Happierdays 2nd Sep 17, 7:36 AM
    • 153 Posts
    • 451 Thanks
    Happierdays
    Laura you are doing so well.. well done!
    • fruitloop04
    • By fruitloop04 2nd Sep 17, 8:22 AM
    • 156 Posts
    • 467 Thanks
    fruitloop04
    I am still posting so I have come further than previous attempts, and I am still motivated to not add anything more to debt and continue with the surveys to help me get the debt down

    I will get there eventually!
    Originally posted by laurag89
    You are so determined you will get there! You seem to make a lot by doing surveys - which sites do you use?
    16.08.2017 CC 1 - £2050 £1,500 CC 2 - £1766.82 £1406 Emergency savings: £1250/£6000
    Mortgage - April 2017 £153,000 £149,954
    Debt free by xmas: 1070.86/1500
    (Non Mortgage) Debt Free Date: August 2018
    • laurag89
    • By laurag89 2nd Sep 17, 9:56 PM
    • 631 Posts
    • 1,235 Thanks
    laurag89
    Thank you Happierdays

    fruitloop04 - Thank you I am trying to keep up with the survey sites but I am using - Opinion World, Valued Opinions, one poll, you gov, toluna, and prolific academic
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
    • fruitloop04
    • By fruitloop04 3rd Sep 17, 9:23 AM
    • 156 Posts
    • 467 Thanks
    fruitloop04
    Thanks laurag - will check these out
    16.08.2017 CC 1 - £2050 £1,500 CC 2 - £1766.82 £1406 Emergency savings: £1250/£6000
    Mortgage - April 2017 £153,000 £149,954
    Debt free by xmas: 1070.86/1500
    (Non Mortgage) Debt Free Date: August 2018
    • laurag89
    • By laurag89 4th Sep 17, 9:43 PM
    • 631 Posts
    • 1,235 Thanks
    laurag89
    Managed to cash out £10.25 on opinion world, and £5.00 on prolific academic today

    As soon as they come through I will put the money to my credit card.

    Had ordered some tops to wear to work - they arrived today and just did not look right - so back to the shop they go
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
    • laurag89
    • By laurag89 7th Sep 17, 11:20 PM
    • 631 Posts
    • 1,235 Thanks
    laurag89
    Hey Diary,

    Realised I have neglected you the last few days - a habit I promised myself I would not fall back into!

    Not too much to report, surveys have been slow the last few days but I will keep trying!
    Going away for a night this weekend - just an hour and a half away to see my OH's family, luckily no cost to stay but we are going out for the evening as his birthday is fast approaching. This is an absolute first for me, but i plan to only have the one drink. I am working on my health and fitness so drinking doesn't really fit in anymore. This should also save me money!

    Still 2 weeks till payday so cannot do anything until I know what is left after this weekend and until my phone bill and cc minimum payments come out.

    Looking around for clothes I can sell on eBay or Depop on Sunday - any extra money will help
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
    • laurag89
    • By laurag89 10th Sep 17, 9:45 PM
    • 631 Posts
    • 1,235 Thanks
    laurag89
    Yesterday was a first for me - i went into town for the evening with friends, but I drove and did not drink. I have never done that! But I spent £4 in total, because i was drinking soft drinks only.

    Also woke up today feeling perfectly fine

    Just made up some lunch for tomorrow from home, and completed a couple more surveys this evening which is £3! Small but regular achievements is keeping me focused!

    I have £25 minimum payment pending on my bank account for MBNA credit card so I will update my totals tomorrow.

    Working next sunday again, more money towards my wedding dress!
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
    • laurag89
    • By laurag89 14th Sep 17, 9:42 PM
    • 631 Posts
    • 1,235 Thanks
    laurag89
    Hello Diary

    So I have good news to report - my mortgage deal is coming to an end at the end of Dec, and I spoke to my mortgage company to see where we stand and it turns out we have made 30k profit on the house over the last two years which puts us at a much better LTV - as we did the 95% help to buy two years ago.
    Anyway a long story short from the 1st February I am going to be £180 better off per month, which is going to help me so much with clearing this debt I feel so relieved!

    I am not waiting on February though - I am still tackling this debt full force until then, the lower it is the quicker it will go from February onwards.

    It is such a nice feeling to know things are going to get easier, we haven't struggled as such but it has been tough these last two years with our mortgage because over £1000 per month - but I did not add to my debt over this time, this all came from years back when I was silly with money.

    £25 minimum payment has been made on the MBNA, and I am hopefully going to have some money left in two weeks just before payday to make a payment to the M&S credit card
    Total debt to pay: £13,467.88/ Remaining: £13,110.01 Total paid: £357.87


    Wedding dress fund: £36 / £1500
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