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  • FIRST POST
    • Nicnak
    • By Nicnak 10th Sep 17, 8:30 PM
    • 827Posts
    • 4,626Thanks
    Nicnak
    Debt Free Year
    • #1
    • 10th Sep 17, 8:30 PM
    Debt Free Year 10th Sep 17 at 8:30 PM
    Hi,

    I've pretty much buried my head in the sand over the past 15 years about debt and what it means. I've always seen it as 'normal' to have debt for things, and never thought twice about it. Recently though, I have wanted to think about cutting down my work hours, and I just can't. I can't be the mum I want to be to my 4 year old because I need to work to make sure I can pay the bills and debts. That is when it hit home, that I can't continue like this. I am having a wedding reception in December, which I know is going to take up most of my 'spare' cash, but from January 2018, I will make a difference to my debts.

    Currently have
    £485 0% credit card. It was £2000 in July, So I have been ensuring that I am working on it.
    £7500 Tesco loan at 3.2% - Paying £220 a month and due up in Three years
    £17,450 car loan. Car is in negative equity and I'm stuck in the PCP. The car also is over mileage and has damage. I am 10 months away from handing it back, but with excess mileage and damage, I am thinking this might not be the best idea. Currently paying £351 a month for this luxury that I am thinking I don't need. (I shouldn't have got it, but I did, I can't change what I have stupidly done, and now need to work on the best options).
    I spend money every month on things I don't need, and really need somewhere to record and focus on what it is I am doing, and the inspiration to keep going when I see progress is being made.

    I've started a written diary as well to try to help. If I pay off these debts, then I know that I will be £500 better off. In April, my phone is due up for renewal, and I have already looked at the SIM only deals which will take it to the £500 a month mark.

    i am going to try to earn some extra per month to pay off the debts, which in the short term might reduce the time I have with my daughter.

    Here goes...

    I really need to do this now.
Page 36
    • Nicnak
    • By Nicnak 13th Feb 18, 9:24 AM
    • 827 Posts
    • 4,626 Thanks
    Nicnak
    Morning,

    I am hoping for another good day. I need to get some fruit for pancakes for tonight. Little one has asked for pancakes with fruit. I have £15 in my purse that I need to pay for some of this. I need to do a full shop on Thursday when I get paid. We have run the cupboards down as I don't want to spend too much. I might stock up the freezer a little bit this month as well. I am off this week so might be a good idea to to do that.

    Off to do some more surveys now. Hoping for £10 today.
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £1649 Tesco Loan £7500 = £11.20 Consolidation £15,000 = £14,547 Total = £25,330 £16,207 36% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • DebtFreeDuo
    • By DebtFreeDuo 13th Feb 18, 10:44 AM
    • 777 Posts
    • 4,022 Thanks
    DebtFreeDuo
    Sounds like you have been struggling a little with your focus, I know exactly how you feel as I was much like this a few weeks back. What is most important (I think) is making sure you find that focus again, which it sounds like you are. You haven't done any major damage to your journey and we are all allowed some bumps in the road along the way. These bumps are there to help us, we need to take it all in and learn from the bumps as this will help our long term goal.

    If getting out of debt was easy then we would just end up right back where we were wouldn't we? Just keep swimming.
    Debt free by Christmas 2018 #004: 2419.69/7445.69
    £2018 in 2018 #25: 210.41/2018
    SPC 586
    • kindofagilr
    • By kindofagilr 13th Feb 18, 11:17 AM
    • 6,160 Posts
    • 20,690 Thanks
    kindofagilr
    DS wants pancakes tonight, I am at work, the kids are with their grandparents so grandma is going to make him some, DD doesn't want any.
    I am trying to lose weight so I won't be having any today xx
    Real LBM in DEC 17 £56,706.79/£55,572.63 as of 19/01/18 ~ 2.13% Paid

    POAMAYC 2018 #87 PD £1134.46/£12,000
    POAMAYC 2017 #87 PD £10,380.18/£10,000
    POAMAYC 2016 #87 PD £7454.80/£7000


    Mortgage (Start Date 01/04/09 ~ 30 year term, due to end 01/07/39)
    £104,409/£85,616.56 (as of 31/01/18) ~ 17.99% Paid

    My Debt Free Diary (Link)
    • Nicnak
    • By Nicnak 13th Feb 18, 6:33 PM
    • 827 Posts
    • 4,626 Thanks
    Nicnak
    Pancakes were yummy.

    I spent £8 in the shops buying the ingredients for it. Just fruit as I had everything else in.

    I bought some tea lights as well, which is why it was £8. I used cash from my purse rather than my bank account. I have £13 in my bank till Thursday and £7 in my purse.

    Just debating stocking up the freezer with meat and only buying top up shops. Not sure whether it will work out cheaper or not.
    Last edited by Nicnak; 13-02-2018 at 6:50 PM.
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £1649 Tesco Loan £7500 = £11.20 Consolidation £15,000 = £14,547 Total = £25,330 £16,207 36% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 13th Feb 18, 6:50 PM
    • 827 Posts
    • 4,626 Thanks
    Nicnak
    Anyone doing anything nice for Valentines day?
    My mum bought me a rose from the little one, but hubby despises it as he talks about the commercial element so I am not expecting one thing from him tomorrow.

    Hope other people have something nice planned though.
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £1649 Tesco Loan £7500 = £11.20 Consolidation £15,000 = £14,547 Total = £25,330 £16,207 36% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 13th Feb 18, 6:51 PM
    • 827 Posts
    • 4,626 Thanks
    Nicnak
    Sounds like you have been struggling a little with your focus, I know exactly how you feel as I was much like this a few weeks back. What is most important (I think) is making sure you find that focus again, which it sounds like you are. You haven't done any major damage to your journey and we are all allowed some bumps in the road along the way. These bumps are there to help us, we need to take it all in and learn from the bumps as this will help our long term goal.

    If getting out of debt was easy then we would just end up right back where we were wouldn't we? Just keep swimming.
    Originally posted by DebtFreeDuo
    I know you are right on this. We need to learn the lessons along the way so we don't end up back here.
    No more gin drinking for me!
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £1649 Tesco Loan £7500 = £11.20 Consolidation £15,000 = £14,547 Total = £25,330 £16,207 36% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • savingholmes
    • By savingholmes 14th Feb 18, 6:49 AM
    • 8,841 Posts
    • 16,679 Thanks
    savingholmes
    Almost payday. You are doing really well. We all have blips - I know I have this week too.
    Today is a new day £1311/280 £10 a day Feb Challenge
    • kindofagilr
    • By kindofagilr 14th Feb 18, 9:19 AM
    • 6,160 Posts
    • 20,690 Thanks
    kindofagilr
    Nothing planned here for V day, we gave each other cards this morning, but that's it really lol xx
    Real LBM in DEC 17 £56,706.79/£55,572.63 as of 19/01/18 ~ 2.13% Paid

    POAMAYC 2018 #87 PD £1134.46/£12,000
    POAMAYC 2017 #87 PD £10,380.18/£10,000
    POAMAYC 2016 #87 PD £7454.80/£7000


    Mortgage (Start Date 01/04/09 ~ 30 year term, due to end 01/07/39)
    £104,409/£85,616.56 (as of 31/01/18) ~ 17.99% Paid

    My Debt Free Diary (Link)
    • Nicnak
    • By Nicnak 14th Feb 18, 1:35 PM
    • 827 Posts
    • 4,626 Thanks
    Nicnak
    Almost payday. You are doing really well. We all have blips - I know I have this week too.
    Originally posted by savingholmes
    I am in my overdraft now by £66 stuff i so needed to buy, but was holding off till payday. My plans have been changed round today so meeting the friend for coffee has been put off and I desperately need the shopping I have bought. Not happy that I am £66 overdrawn. The money has come out a day earlier than I thought, but i will have to account for that this month, and be extra careful.

    These last few weeks have been a bit of a blip. I need to get focussed, and then stay focussed. Hopefully the weather will pick up a bit and help with getting out without spending.

    Nothing planned here for V day, we gave each other cards this morning, but that's it really lol xx
    Originally posted by kindofagilr
    I got breakfast in bed on a tray this morning, only because my little one insisted on it happening. She practically dragged him out of bed to get me tea and toast! Poor man was told he was doing it. I love how she thinks about being so kind though. It even had to be given to me on a tray!

    Will update in the next post.
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £1649 Tesco Loan £7500 = £11.20 Consolidation £15,000 = £14,547 Total = £25,330 £16,207 36% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 14th Feb 18, 1:41 PM
    • 827 Posts
    • 4,626 Thanks
    Nicnak
    Today my coffee catch up was cancelled, which meant that I thought I can either sit here and wait till tomorrow to get the shopping we desperately need, or go today and cope with being in my overdraft for 12 hours.

    I went and got the bits I needed. Little one needed some new cardigans for school - last time I left it, it cost me double as I was holding off buying her bits. I was in a big supermarket that sell them so rather than waste fuel travelling the 12 miles round trip, I just got them there and then. I could have put them on the credit card, but decided just to use my account. I will account for it within the month so decided to bite the bullet. She needed tights, cardigans and new pinnafores so I bought her two cardigans, two dresses, and 5 pairs of tights on offer for £10.

    As I was off, I shopped around in some of the smaller shops that have things cheaper and think I got the best deals for the food I bought. I didn't go over the top, the £66 I have spent today has the £20 I spent on little ones school uniform included.

    I did buy hubby some £1 maltesers for valentines day and some £2.49 epsom bath salts for him to soak in when he gets home. I believe they are fab for aches and pains and should also help with my aches and joint issues.

    Stocked up my freezer a little bit too so I will just have to sort out ready for a meat shop on Friday that I might do.

    Hope everyone else is ok? I am really looking forward to pay day now!
    I might wake up a midnight just to see my account looking better! Also hoping the tax code has been amended so that I am better off. We will see about that one!
    x
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £1649 Tesco Loan £7500 = £11.20 Consolidation £15,000 = £14,547 Total = £25,330 £16,207 36% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 15th Feb 18, 8:15 AM
    • 827 Posts
    • 4,626 Thanks
    Nicnak
    Well, this morning has been interesting.

    I got paid. I did not do the midnight thing, but I have done tat before now on the odd occasion just to see.

    The new tax code has been entered, I think anyway. My pay was £170 more than its was last month, but without my pay slip to see, I have no idea if that is just the tax code or something else. I suspect it is the tax code.

    I was hoping for an extra £30, but no, it was a whole £170 more. That is a huge amount. Even with my minds £66 overdraft, I still got more into my account then last month, which was really strange.

    This morning, I have been a busy bee and have paid off:
    £50 - Barclaycard 0% - minimum payment
    £285 - tesco loan - only £296 on it, but interest rebate on previous overpayment has not come in yet, so waiting for that. It will be cleared though.
    £239 off my halifax credit card for the dental treatment - £279 owed on it. I will pay the other £40 when I get some tutoring money in. Probably next week.
    3% gone off my debt this morning alone. I still have the normal natural payments to come out. I think I will be clearing around 5% of my debt this month.

    I need to be very careful though. Little one has her birthday on the day of the next pay day. That means that all money will need to come out of this account, plus we have Mother's day. My mum has my little one so I usually get her something quite decent to thank her for the time and looking after my daughter without payment.

    So, that was my morning so far. I have planned to have another coffee with a friend this morning, but other than that, I am scheduled in to do some marking this morning. I need to mark 15 books to be back on track to mark them all by the weekend.

    Hope everyone else has a nice Thursday. x
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £1649 Tesco Loan £7500 = £11.20 Consolidation £15,000 = £14,547 Total = £25,330 £16,207 36% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 15th Feb 18, 8:20 AM
    • 827 Posts
    • 4,626 Thanks
    Nicnak
    Signature updated. I had not added the other credit card so there is another £230 that I have managed to pay off that is not on there. x
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £1649 Tesco Loan £7500 = £11.20 Consolidation £15,000 = £14,547 Total = £25,330 £16,207 36% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 15th Feb 18, 7:40 PM
    • 827 Posts
    • 4,626 Thanks
    Nicnak
    I resisted stationery today. I actually went in with my vouchers to buy it, and didn't. I didn't want to spend £6 on it so walked away.

    I did spend £15 on various bits and pieces.Mostly needed, but the odd bit wasn't.

    Still not decided if i should go and stock up on meat yet. x
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £1649 Tesco Loan £7500 = £11.20 Consolidation £15,000 = £14,547 Total = £25,330 £16,207 36% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • savingholmes
    • By savingholmes 15th Feb 18, 9:05 PM
    • 8,841 Posts
    • 16,679 Thanks
    savingholmes
    £170 extra must have been a nice surprise. With the overdraft its not great when it happens - but at least if it is happening less often and for smaller amounts its still progress. I've been a lot more focussed about staying out of overdraft this year and its definitely encouraging when it works...
    Today is a new day £1311/280 £10 a day Feb Challenge
    • kindofagilr
    • By kindofagilr 16th Feb 18, 8:12 AM
    • 6,160 Posts
    • 20,690 Thanks
    kindofagilr
    Oh nice surprise on the pay, I am with you on the not knowing, OH got promoted two years ago, and didn't get a pay slip, and it took a couple months to get his new wage (plus arrears) it was on my mind all the time, I ended up doing the checking the bank at midnight thing lol

    Well done on the stationary walking away I would struggle too, I love stationary lol xx
    Real LBM in DEC 17 £56,706.79/£55,572.63 as of 19/01/18 ~ 2.13% Paid

    POAMAYC 2018 #87 PD £1134.46/£12,000
    POAMAYC 2017 #87 PD £10,380.18/£10,000
    POAMAYC 2016 #87 PD £7454.80/£7000


    Mortgage (Start Date 01/04/09 ~ 30 year term, due to end 01/07/39)
    £104,409/£85,616.56 (as of 31/01/18) ~ 17.99% Paid

    My Debt Free Diary (Link)
    • enthusiasticsaver
    • By enthusiasticsaver 16th Feb 18, 9:11 AM
    • 5,702 Posts
    • 11,269 Thanks
    enthusiasticsaver
    Good news on the extra £170. Great that you are down to £16207 even with that consolidation loan. Will you be overpaying it once the credit card has gone?
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • Nicnak
    • By Nicnak 16th Feb 18, 2:29 PM
    • 827 Posts
    • 4,626 Thanks
    Nicnak
    Good news on the extra £170. Great that you are down to £16207 even with that consolidation loan. Will you be overpaying it once the credit card has gone?
    Originally posted by enthusiasticsaver
    Yes,

    Overpaying by £800 a month once everything else has gone. That'll start in April. I'm clearing the most apr bits first, which is why the cc is being left. It is 0% till June. I should have that clear in April.

    xx
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £1649 Tesco Loan £7500 = £11.20 Consolidation £15,000 = £14,547 Total = £25,330 £16,207 36% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 16th Feb 18, 7:16 PM
    • 827 Posts
    • 4,626 Thanks
    Nicnak
    I had another letter from HMRC today saying my tax code had changed again, which might explain the pay again. It has gone more into my favour, I wonder if they got it sent to my employer in time for this payroll. I would explain the pay difference so I think that is the only logical explanation.

    I went and stocked the freezer up, and tomorrow I will stock up the fridge.
    x
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £1649 Tesco Loan £7500 = £11.20 Consolidation £15,000 = £14,547 Total = £25,330 £16,207 36% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 17th Feb 18, 7:21 AM
    • 827 Posts
    • 4,626 Thanks
    Nicnak
    I've had quite a productive and relaxing week at the same time. I tried to ensure this holiday had a mixture of both.

    I managed to sort out my website for my journals, and it is now live!
    I also sorted my life insurance and got £310 cash back (tracked at the minute). Quidco is offering huge cash back on the one that's advertising on the TV at the minute, It's the dog one. It's up to £510 for certain policies. It is in line with other policies I have looked at as well.

    Today I need ton fill up the fridge, take little one to cheer leading and look at creating another website for my Irlen Screening that I do. Need it to be productive!
    x
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £1649 Tesco Loan £7500 = £11.20 Consolidation £15,000 = £14,547 Total = £25,330 £16,207 36% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • savingholmes
    • By savingholmes 17th Feb 18, 9:51 PM
    • 8,841 Posts
    • 16,679 Thanks
    savingholmes
    May look into the life insurance on quidco - have been thinking of changing ours for a while
    Today is a new day £1311/280 £10 a day Feb Challenge
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