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  • FIRST POST
    • DrSpendLittle
    • By DrSpendLittle 22nd Aug 17, 4:30 PM
    • 207Posts
    • 750Thanks
    DrSpendLittle
    Reducing Debt - being accountable and taking responsibility
    • #1
    • 22nd Aug 17, 4:30 PM
    Reducing Debt - being accountable and taking responsibility 22nd Aug 17 at 4:30 PM
    Hi everyone!

    DFW newbie here! Been a lurker for a while but have been so inspired by reading others' DFW diaries - it's literally all I've done this weekend! - that I decided to take the plunge and join in the fun. Now's the time. Had my LBM a few weeks ago and can't wait to get started

    So, a little about me before I state my financial situation and my goals:
    - a happy, healthy and engaged homeowner
    - settled in my career with a fairly well paid job & annual increment
    - looking at starting a family soon as time is ticking!
    - enjoys sports and the outdoors and a healthy approach to life
    - has just started using YNAB
    - has a 'secret' unsecured debt of just over £10k (2 x cc's)

    About DF
    DF is debt free but doesn't actively save. He seems to spend what he earns which isn't great since we have a tiny mortgage and lowish bills. He had family money passed on to him a few years ago on the advice of his mother's accountants - she would NEVER give it away otherwise. This dosh acts as a financial cushion for him .....and, admittedly, me gosh, it really has meant I've been a wee bit lacking in the old saving malarkey Time to banish this false sense of security!

    About DF and I's financials
    DF and I don't have a joint account. All bills / mortgage come out of his current account except car insurance and broadband/phone which I'm responsible for paying. I give him £465 every month towards bills (includes a deduction for car insurance) and he gives me half of whatever the broadband phone bill is. This arrangement is, on reflection, part of my problem as I have too much 'distance' from the reality of bill payments and direct debits etc etc etc I'm sure you all know the score....

    DF knows I have some debts but isn't really aware of the current status of my 'net worth' He's one of life's worriers so I am taking this DFW journey alone for now. I'm completely settled and happy with this idea and I have been managing it all on my own thus far, so no need to change. I got myself into this situation so I'll be getting myself out of it.

    Why the DFW diary?
    Well, we're thinking of moving home since we could take a few leaps up the ladder. Its time for our dream home. This has caused my LBM. I want my dream home and the only thing stopping me is my poor money management skills! Its also time to move. We've been here a while and have never fully settled.

    My interim goal?
    To clear £4K of debt by January so when we put the house on the market, my debt levels are lower. I obviously also want to make sure we can maximise our borrowing, so I want to demonstrate good money management skills and a good pattern of spending and saving.

    My overall aim
    But, more than this interim goal, I just want to be in control of my money and no longer feel guilty for spending it. I want to save up for things and have that lovely 'I deserve this because I saved for it' feeling when I buy something. I want to be responsible. And, I am here to become accountable.

    My plan of action!
    So....this diary is my way of sharing my story, being accountable for my actions, taking responsibility and doing all this whilst my other half is oblivious!

    I hope you join me on my journey and I look forward to joining you on yours.

    My current financials
    I'll post my current financial situation later today - got some work things to get done before close of play. Its been one of those 'working at home' days which have largely comprised of obsessing over YNAB and lurking on DFW diaries, oh deary me A hint of my procrastinating / self sabotaging ways......

    DSL
    Last edited by DrSpendLittle; 30-09-2017 at 9:20 AM. Reason: I'm a formatting perfectionist :)
Page 7
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 5th Oct 17, 6:53 PM
    • 641 Posts
    • 2,524 Thanks
    wishingthemortgaheaway
    First mortgage free month I'm going to blow the whole lot on something so incredibly frivolous for us all I will surprise myself.
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
    • DrSpendLittle
    • By DrSpendLittle 5th Oct 17, 11:21 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Come next July/August time, you'll be able to pay for a holiday outright with 1 or 2 months 'debt' money.
    I firmly believe that when you have a achieved something you should mark the occasion somehow. (Spot my theme)

    I got a new job - new purse
    I finished paying off my student loan - new handbag
    Successfully completed a massive work job - new handbag
    (Don't think I need to go on....)
    Originally posted by wishingthemortgaheaway
    Ha ha! I'd already thought about using the debt money to pay for a holiday but then it all depends on house move.

    I might factor in a 'Paid off £5k' treat...

    Y'all are leading me astray!!
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 5th Oct 17, 11:22 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    First mortgage free month I'm going to blow the whole lot on something so incredibly frivolous for us all I will surprise myself.
    Originally posted by wishingthemortgaheaway
    That sounds so good. Have you decided what it will be yet? Bet you have..
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 6th Oct 17, 5:12 AM
    • 641 Posts
    • 2,524 Thanks
    wishingthemortgaheaway
    That sounds so good. Have you decided what it will be yet? Bet you have..
    Originally posted by DrSpendLittle
    Actually I haven't. It's too far away, still got 90 lots of £400to go which, at the moment, is 90 months. Obviously it's not going to take quite that long because I won't let it. But, for now, £400 a month capital reduction is about all we can manage.
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
    • DrSpendLittle
    • By DrSpendLittle 6th Oct 17, 1:03 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Nearly the Weekend!
    Can't believe its nearly the weekend again. No idea where the time has gone this week.

    Had 3 NSDs this week but I need to nip out later to get some yoghurt and mint for dinner - we're having a homemade feast of lamb koftas, flatbreads (thanks to HiddenIdentity for mentioning the recipe one time), hummus and raita. All except the raita is defrosting (we made a batch last week and froze leftovers). I've no idea whether the hummus will freeze / defrost well...!

    This weekend we've no plans. Work has been so busy for the both of us over the past few weeks that we just want to crash out come the weekend. We also need to catch up on some housework and laundry. Shouldn't be too spendy. Need to get some wrapping paper and a card for a birthday later in the week.

    Waiting for new statements to be generated for CC1 & CC2 so I can accurately see when my promotional balance transfer rates end. My budget generally reflects this but I want to have a more accurate picture.

    Have a happy weekend, fellow Debt Slayers
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 7th Oct 17, 12:50 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    MSE | Interest | EF
    Happy weekend!

    Iíve finally got on top of the MSE website and managing my diary subscriptions. Previously, I would look for diary updates manually by heading over to the diary and trying to find where I left off last time. Ahem. Safe to say it all got a bit too time consuming and I kept missing out on some updates. Now I go to my profile and then to unread posts. Am I the only one who finds the site a bit clunky to navigate?

    Iíve had a £1.44 interest charge in CC1 which must be from my work train ticket that is still sat there. Bit annoying as I thought my overpayment this month would wipe it off but it doesnít seem to have. Iíll need to wait until Monday when the statement is generated for a clearer picture. The cost has come out of my work expenses category in YNAB (rather than me reconciling the balance upward and ignoring it as a cost).

    Iíve put the lonely £20 that was in my emergency fund on to CC1 so the balance is now below £500 (phew) and sits at £495.12 (£113.68 of that is outstanding work expenses that should be paid off by the end of the month).

    On the subject of my emergency fund, Iíve decided on something controversial. Iím not going to contribute to my EF until Iíve at least halved my CC debt, probably January. Iíve theoretically got £675 in there that will be spent on a new boiler this month. If I have an emergency, I will just reduce my credit card over payments that month (I typically pay about around £800 of overpayments per month) and use that cash. Iím content with my discipline in sticking to my debt slaying budget, so Iím confident I can make this happen. Plus DF can sub me if Iíve already made the overpayment.

    So, my signature now has a Total Debt Repayment figure in place of an Emergency Fund figure. I really like having that total repayment figure visible. Keeps me motivated and on track.

    Not sure if itíll be a NSD today or not. Itís DFs turn to get the food shop this week so I reckon I may manage a NSD but I do need wrapping paper and a card at some point this weekend. Going to spend most of the day cleaning and tidying as weíre behind on housework from both being busy at work lately (we both have a 1 hour commute to work).

    DSL
    Last edited by DrSpendLittle; 07-10-2017 at 12:54 PM.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 7th Oct 17, 3:52 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    MSE Win!
    Just ordered my foundation off l00kfant4stic via T0pc4shback - managed to get a 15% discount on the l00kfant4stic (new customer) saving £4.05 and 12% cashb4ck generating £2.75 which means my £27 foundation has only cost me £20.20!!



    DF gone food shopping and I've been left with the task of finishing the spring cleaning in our bedroom - we pulled out the bed and dusted / hoovered behind there. Now the bedroom is a tip! Still, it makes for a low spend day so I ain't complaining.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 8th Oct 17, 10:36 AM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Xmas
    Morning campers!

    After all the xmas chat over on Hiddenidentity and Treadingonplaymobil's diaries yesterday, I ended up spending last night (well, once I finally finished making and eating lasagne) browsing on the tinterweb for xmas pressie ideas and I pretty much sorted my gift lists! Safe to say that my list (...c'mon, who doesn't make their own list when browsing xmas gift ideas..) is the longest. Oops.

    I haven't saved for any of it yet though! My plan is to allocate £160 from end of October salary and £250 from end of November salary. This £420 will be the maximum I'll spend on gifts this year. I'm hoping to get it below that and any residual will go in the December food / fuel categories as we tend to be the ones who drive to visit family over the festive period.

    As I type it, £420 seems a lot to spend and I didn't think I actually spent that much each year. In the past, I just know this spending would have all gone on CC2 and not be paid off. Naughty. Before the boiler went on the blink, I had mentally put aside last month's £500 work fee to cover xmas (I've known since Feb that I'd be getting it in Sept/Oct). I've obviously had to rejig things. I still intend to pay £960 each month off my CCs in Nov-Dec and a further £157.91 on car finance payments per month. It'll be really tight but I like a challenge! I've got a hair cut and clothes shopping planned from end of December salary as I'm sure I'll need a treat by then!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 8th Oct 17, 6:58 PM
    • 641 Posts
    • 2,524 Thanks
    wishingthemortgaheaway
    You can do it Dr...
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
    • DrSpendLittle
    • By DrSpendLittle 9th Oct 17, 10:22 AM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    The Week Ahead
    Yesterday was another NSD - I was struggling to figure out how many I had over the past week. I spent money in the supermarket on Monday and Friday last week and then did an online order on Saturday, which makes for 4 NSDs. Today I need to do a food shop and get some wrapping paper / card.

    I was feeling the urge to spend money yesterday - just even a mooch around the pound shop. Its strange. I don't think I'm bored or need something to do, I think its just a residual habit left over from the DSL Spendy Era. Anyway, I carried on with more spring cleaning and then made a soup for lunches this week.

    One thing I've realised is I've forgotten to budget for a long weekend with the girlies in the new year. The entire weekend shouldn't cost more than £200, but I will probably have to reduce payments on CC2 that month. I hope to have the balance to under £6k by then so I'm a bit more relaxed about it than I would be if we were going away in November.

    Aside from spring cleaning, DF cooked a curry last night and we have enough for leftovers tonight. Yum. I need to get some more meat to put in it (just the paste left over). DF wants prawns for a change but I'm not so keen. Plus they're not so MSE ££s friendly!

    All in all, had a quiet weekend doing more spring cleaning. Feel like a bit of a hermit these past weekends but I'm keen to get the cleaning done in readiness for selling the house and we have been a bit lax with it over the past year, so it really needs doing. Next weekend I'd like to pull out the wardrobes and give it a good dust / hoover behind there. Not done that in quite some time and I'm dreading what we will find!!

    Working at home quite a bit this week. Yay! Looking forward to saving money on fuel, car parking and lunches.

    Have a great DFW week!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 9th Oct 17, 3:35 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Don't call me mad but...
    ...I just made a payment of £3 to CC2 so the payment in my signature is a nicely rounded £600 and my total repayments are £2,102.16 instead of £2,099.16

    Taken it from Fuel budget!

    Food shop was very successful - spent £49.39 (Waitr0se and Al8i)i and got lots of things that could theoretically last a week and a half with a small top up shop. In reality, DF may not want to stick to the meal plan I've in my head so there is a bit of flexibility built into my system. The freezer is packed with food so we must have a roast at some point (beef or ham to choose from).

    Also got some toiletries (£2.47) from Sup3rdrug and wrapping paper / bow (£2.97) from C4rd Fact0ry.

    Overall, a spendy day but all on budget.

    Really excited for the birthday I've been buying gifts for It's been so nice buying gifts and not stressing about spending the money. I always used to feel awful buying gifts as it was the one time where being in debt really bubbled to the surface. Really looking forward to my first xmas of not relying on credit cards

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • redofromstart
    • By redofromstart 9th Oct 17, 3:54 PM
    • 615 Posts
    • 3,496 Thanks
    redofromstart
    It is indeed clunky - there used to be a widget at the top of the thread that took you to the last unread which was great.

    Sounds like good progress by you.
    • Shelbi
    • By Shelbi 9th Oct 17, 10:31 PM
    • 641 Posts
    • 1,475 Thanks
    Shelbi
    Hi DSL

    just finished reading your diary...you're doing fab, am subscribed and eagerly looking forward to the next Installment of your debt slaying journey!! Keep up fab work lovely with you all the way....cheering you on all the way!!

    Sx
    If at first you don't succeed, dust yourself off & try again... Debt at 5th attempt
    step 1-1 debt vs 100days chpt27- £3452.25/£4603.46 (75%)- deadline 29.12.17
    Step2- cc £380.53/£5482.83 (6.94%) (offset £1500savings when mature-31/03/18)- deadline 01.05.2017- 37.99% of total Debt Overall
    • DrSpendLittle
    • By DrSpendLittle 10th Oct 17, 1:13 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Hi DSL

    just finished reading your diary...you're doing fab, am subscribed and eagerly looking forward to the next Installment of your debt slaying journey!! Keep up fab work lovely with you all the way....cheering you on all the way!!

    Sx
    Originally posted by Shelbi

    Thanks Shelbi!! Cheers to that
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 10th Oct 17, 1:29 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Random Ramblings
    Afternoon Peeps!

    Not much to report today. Managed a NSD yesterday and will be having one today.

    I've been trying to make some payments to my Partnership Card over the past few days (CC3 - I use it for food and fuel spends and pay off in full every month) and have been wildly unsuccessful. I've unconventionally used it for presents spending this month and I wanted to pay it off as I went along, so my current balance matched my fuel and food spends in YNAB. All seemed perfectly logical to me. However, it seems that credit card companies don't let you pay off your spends willy nilly. I think I've made too many payments this statement period and thus any further payments I make until statement day (which is tomorrow) will be classed as putting the account in credit. Doh. Need to hold back my enthusiasm. Its not a bank, its a credit card!

    Other than that, I have a couple of visits into the office planned this week and have breakfasts / lunches already prepped so hoping to make them NSDs too aside from having to put fuel in the car.

    Dinner can be whatever we fancy off the list of food we have stuff in for. Need to chat to DF as I might have to get stuff out of the freezer and time is ticking for it to be safely defrosted.

    I've got a call into the mortgage broker and waiting for a call back - I'm going to start that ball rolling I think, just to see what the process is and how much my existing debts may matter in terms of the borrowing amount and rate. If they don't matter too much, I may chat to DF about just getting on with things and putting the house on the market now. The house I have my eye on to look around is still on the market and I've been thinking more and more about what our life may be like if we moved there - it feels good and I think I may be tempted by it, but we need to market and sell ours first!! Oh look, the impatient tendency I spoke about earlier on in my diary....

    Back to work I go...

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 11th Oct 17, 10:57 AM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Credit Card Interest
    Morning Peeps!

    In the office today. Gawd, its such a trauma getting up and out of the house in the morning now. I've become a bit complacent with all these working at home days and accustomed to a rather easier transition into the working day. Still, its a nice change of scenery and good to catch up with colleagues.

    Spent £15 on fuel this morning and will have a small food spend on the way home from work as I forgot fruit the other day and have a hankering for some strawberries! Dinner is defrosting in the fridge so no spends for that necessary.

    According to my statement, the random £1.44 interest on CC1 was from purchases made from 8th - 22nd September for my work expenses (two trips). I spent £123.01 in total and was charged at 17.7% interest rate on this 'outstanding balance'. But, I made a payment on 26th September of £596.63 thinking this would pay off the spends. I'm not sure why I was charged interest as I thought you had 56 days grace period to pay off spends before interest kicked in? Or are you charged interest from the moment you spend on CCs? Shows how much I know about the blasted things! Maybe I'll get an interest refund as I've had one before.

    My work expenses got retuned this morning because the stupid excel sheet I had to use was formatted ridiculously and removed the first two digits of my bank account (they are 00). All sorted now - after figuring out I just needed to format the cell to text - but I hope it doesn't delay them being reimbursed by the end of the month.

    Submitted another £20 of expenses today so hopefully they will also be reimbursed soon too!

    Have a great debt slaying day.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 11th Oct 17, 7:59 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Ahem. Went via the pub rather than the supermarket on the way home

    Still, I didn't spend any ££s as I was driving and had a couple of soft drinks bought for me so all in all, a lowish spend day just £15 on fuel for commuting. Good times.

    Will need to pick up that fruit tomorrow morning from the supermarket though.

    Working at home tomorrow, so no fuel or lunch costs.

    But...I'm going out for dinner tomorrow night, so it might be a wee bit spendy though all budgeted for.

    Lots of diary updates to catch up on here today - will get back to it after I've cooked dinner (from the freezer! ).

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 12th Oct 17, 1:48 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    A Day Off!
    Afternoon Debt Slayers,

    Having a day off work today. At home and waiting for a call from our mortgage broker to start the ball rolling. I've spent a bit of time this morning doing our joint finances (salary, assets, immediate obligations, monthly spends, credit commitments) in preparation for the call. All nicely organised in an excel spreadsheet. Not too sure what my broker will need at this stage but I think I've got everything covered for any surprise questions.

    The only spends I've got today are dinner out and maybe a drink in the pub after. Budgeted for it so hopefully I won't have to move money around my YNAB categories! I've probably over budgeted for fuel this month so I could take a cheeky £20 from there.

    I've got another big work trip coming up soon but work are prepaying my train fare (phew) so I'll just have public transport (£6ish) and a snack/coffee (£10 max) to pay for on the day. I've also got a local work visit too, but the train fare isn't too bad and there is food / coffee provided. I've budgeted £32 for work expense this month so I'm hoping that will be more than enough. From now on, I'm trying not to use CC1 for expenses to avoid interest payments.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 12th Oct 17, 3:42 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Decision in Principle
    Good news, folks.

    We got a decision in principle for a mortgage that would more than cover the house that were interested in. We've got a fair bit of equity in our house and so are aiming for a LTV of around 73% - 74%. The broker seems to think our finances look good and there shouldn't be any major problems borrowing what we want.
    However, the monthly mortgage payment will be nearly three times as much as our current mortgage payment All the more reason to get that 3-6 month emergency fund built and the CC debt paid off as soon as possible!!

    The credit card debt didn't seem a big issue (given the outstanding debt is set against our joint income rather than my personal income). I asked the broker how it would be considered by lenders and he said that lenders generally calculate 3% of each outstanding balance as a fixed monthly repayment. He didn't seem bothered by my £9k. Phew.

    Now we can get the ball rolling more confidently and look at marketing our property and maybe take a look around the one that is for sale.

    DSL
    Last edited by DrSpendLittle; 12-10-2017 at 5:14 PM.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 14th Oct 17, 9:27 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Busy bee
    Had a busy end to the working week and ended up going out for impromptu drinks with friends on Friday night. Spent about £22 which wasnít too bad, but Iíve had to shuffle my ynab categories around to find the ££s

    Spent most of today hungover and Iíve had a very quiet day. Got stuff out of the freezer for dinner so had a NSD.

    Tomorrow Iíd like to do some more spring cleaning as planned. Weíve got plenty in the freezer so I donít envisage a supermarket trip.

    Got issues with a very old filling - my dentist and I have been waiting for it to break so it can be replaced. Well, the filling has stayed strong but some of the tooth around it has broken so Iíll probably need to pay for a crown over the next few weeks. It will have to come off Novemberís CC payments.

    DSL :
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
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