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
    • DebtFreeDuo
    • By DebtFreeDuo 20th Sep 17, 8:43 PM
    • 617Posts
    • 3,018Thanks
    DebtFreeDuo
    This Duo's debt free journey
    • #1
    • 20th Sep 17, 8:43 PM
    This Duo's debt free journey 20th Sep 17 at 8:43 PM
    I had a previous thread but having problems locating it so thought I would start a fresh one. Brief intro, the duo is me and my little one, just over a year ago my debt was at a figure of around £12k, as of today it stands at £6124.40. This is made up of 2 loans (one car) and one credit card which is 0% until April 2019.

    My aim is to save up over the next 6/8 months so that I can overpay 6 months worth on the loan with the shortest term, this will clear the loan completely as the last payment is December 18. Then I will tackle the second loan which is due to end April 19, I aim to clear this by around December 18 and then clear the 0% card last but well in time for the 0% ending.

    I can't do much until January, I'm currently studying and therefore get my income 3 times per year which I use to overpay, I have just cleared £1500 which is all I can manage until my next payment. This includes a monthly saving to my Help to Buy ISA. I have around £4k in my ISA but I am reluctant to use this to clear my debts as I will earn more back on this then I will save in interest with the governments 25% bonus.

    I have gone over all of my monthly bills and I am certain that I cannot make any further savings than I have made recently. I am currently listing as much on ebay as I can to give me a little extra money for treats that I haven't included in my budget up to December.

    Will update my signature shortly but as it stands my debt free date is April 2019, I aim to bring this forward to Dec 2018 at the very latest.
Page 19
    • Pauper1
    • By Pauper1 28th Nov 17, 2:26 PM
    • 287 Posts
    • 2,356 Thanks
    Pauper1
    I love a new plan! I hope it works for you. We're all always learning and adjusting I think.
    DMP start 1st May 2014 - £22,850 £39,349.41 Original DFD from Stepchange 6th Sept 2039... Aiming for 1st Nov 2026
    Priorities changed, sold our house, going through the settlement process and hope to be debt free by Christmas 2017
    • DebtFreeDuo
    • By DebtFreeDuo 28th Nov 17, 2:32 PM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    Thank you Pauper, this is a long process of adjusting and figuring out what works best for each of us and I know that I will get there eventually. I think the learning is one of the vital parts of the journey though as I believe this is what helps prevent it from happening again in the future.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • ladymay
    • By ladymay 28th Nov 17, 2:58 PM
    • 711 Posts
    • 3,313 Thanks
    ladymay
    You sound very determined! It sounds like you and your little one are going to have a wonderful month while you keep on track
    Debt 14/04/12: £15736.77
    Debt 09/12/14 ZERO POUNDS
    Debt 15/10/17: £1714.40
    Debt 14/11/17: £1631.61
    Moving back to the UK 05/01/18
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 28th Nov 17, 9:17 PM
    • 2,233 Posts
    • 10,720 Thanks
    HairyHandofDartmoor
    A realistic rather than aspirational budgrt is best as you need to be able to kdep it up long term. You will definitely get there .
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 October 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund
    Emergency Fund 1 = £818/Emergency Fund 2 = £203.76
    • DebtFreeDuo
    • By DebtFreeDuo 28th Nov 17, 9:47 PM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    Thank you both. You're completely right Hairy, this budget definitely feels more realistic and I hope that I will now turn a corner with my budgets.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • Kitten868
    • By Kitten868 28th Nov 17, 10:07 PM
    • 846 Posts
    • 1,727 Thanks
    Kitten868
    On school pictures I bought the copyright image as an email for £18. Yes it is scandalous. But then I printed out photos for every family member in the size of their choice 'lustre' quality for £3. I was really impressed as the packages started at £26 for 3 photos.
    Beat the budget challenge! Try and come in 10% under x
    Loan 1 £7100/£8000
    Loan 2 £5100/£5800
    Total £12200/£13800 12% PAID
    • DebtFreeDuo
    • By DebtFreeDuo 28th Nov 17, 10:47 PM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    They did do a disk but ex asked me to order a photo for him too so I bought a package and can deduct his contribution. I will be making presents with the smaller photos in the package which will make a lovely addition to the current presents.

    I will gladly accept your challenge Kitten, I will still have £40 at the end of December and will either put this into my SPC pot or carry it over to January budget.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • DebtFreeDuo
    • By DebtFreeDuo 29th Nov 17, 9:25 AM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    So much to do today and my morning is already not going to plan. Started a small rant about eBay selling but have now deleted as the buyer had made a mistake, that's 20 minutes of my time gone although I am glad it didn't turn in to a dispute.

    Today

    Ironing - My iron is spitting out rusty water, I tried cleaning it using baking soda but now it is even worse so this may not be done.
    Give kitchen a good clean
    Tidy lounge
    Tidy bedroom
    Have a look at assignment for MT module
    Spend nothing
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • DebtFreeDuo
    • By DebtFreeDuo 29th Nov 17, 1:14 PM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    My yankee delivery arrived today and I am extremely happy with the free gift! I did treat myself to a small jar that was on sale at £6, it smells so nice! Going to keep updating this throughout the day to keep me focused.

    Today

    Clean Iron
    Ironing
    Give kitchen a good clean
    Tidy lounge
    Tidy bedroom
    Have a look at assignment for MT module
    Spend nothing
    Washing

    Having quite a successful day today, I have also managed to get a couple of surveys on PA, up to £14.07 on there so I'm getting close to my third cash out from there.
    Last edited by DebtFreeDuo; 29-11-2017 at 2:24 PM.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • EssexHebridean
    • By EssexHebridean 29th Nov 17, 4:14 PM
    • 8,232 Posts
    • 43,551 Thanks
    EssexHebridean
    Ahh well done DFD that looks like a lot of progress all round - and especially on updating budgets to make them realistic. The whole thing with budgeting is that you learn as you go alone - and pretty much all of us have bounced off the thing of making things too tight in the first instance I think.

    You're beating me on PA too - I got 25p on there today!
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£656.45 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • Nicnak
    • By Nicnak 29th Nov 17, 7:10 PM
    • 544 Posts
    • 2,687 Thanks
    Nicnak
    You have made progress today, which is fab.

    I think the realistic budget is a good idea too. I also love Yankee so don't blame you for having a little treat.

    x
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • DebtFreeDuo
    • By DebtFreeDuo 29th Nov 17, 7:38 PM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    Thank you both. I always feel guilty when setting a higher budget, I don't really understand why because when its unrealistic I just go over my budget and then still feel guilty. Hopefully this will stop when I start realising more and more just how important it is to be realistic with my figures rather than thinking I can live on a lower amount.

    Very impressed with PA today, I also received an email back from a company I applied for regarding an online forum for 5 days based on household decisions, I'm unsure exactly what I need to do yet but its £100 worth of amazon vouchers for taking part, that will be incredible if I can do it!

    Didn't complete anymore of my list as I took the small out after school. NSD overall although tomorrow I am going out to finish my Christmas shopping (hopefully) and to get DS a warm hat and maybe another pair of gloves incase (when) he loses his current pair.

    Tomorrow

    Finish Christmas shopping
    Start MT assignment
    Give bedroom a good clean
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • Nicnak
    • By Nicnak 29th Nov 17, 8:08 PM
    • 544 Posts
    • 2,687 Thanks
    Nicnak
    I don’t know what PA is? I use a couple of survey sites and enhoy seeing it build up to get vouchers out. If it wasn’t Christmas, I would buy myself a little something too. I think you need those treats to keep you going.

    What’s your fave Yankee? I like soft blanket and fluffy towels. Willow breeze was my ultimate fave but they stopped doing it.

    The guilt would probably culminate in a huge blow out too so not worth it in the long run. It’s better to stay realistic x
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • DebtFreeDuo
    • By DebtFreeDuo 29th Nov 17, 8:18 PM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    Prolific academic Nicnak, I've had almost £60 from it in about 6 weeks with very little time spent. You do have to keep checking the site quite regularly and I have had weeks at a time with no surveys but it is the best site in terms of not being kicked off surveys, the rate you get in time vs money is also reasonable unlike some other sites.

    I've never really been particularly into candles so I'm very new to all the smells. I'm sure I will decide on a favourite and I will be sure to let you know, for now I have Christmas eve and festive cocktail on the go which are both nice, especially at this time of year. I have them on this afternoon before the school run and then when I got home 5 hours later the house smelt lovely! Oh how disappointing that they don't do your favourite anymore, do you think they will bring it back? Have you checked eBay out for any second hand ones?

    I agree about the blowout, it would be inevitable for me, one thing I do know about myself is that I will have a blow out if I feel too restricted. Also I can try and aim to save money from my budget, I'm aiming to hit the target that Kitten has set and get as close to saving the 10% of my budget as I can.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • Tea&Kittens
    • By Tea&Kittens 30th Nov 17, 1:02 PM
    • 168 Posts
    • 636 Thanks
    Tea&Kittens
    Duo, looks like you're doing great Well done on the budgeting breakthrough! Still figuring out the best balance myself.... !
    I love the christmassy scented candles, I'm sure you have a really welcoming smelling home
    October: NSDs 6 / 17 NSDs in a row: 1 / 5
    I started my debtfree journey on 07 September 2017: Total: £20,521 £19847
    Barclaycard: £14659 £14435 Oct 2017 HSBC Credit Card : £3112 £3012 Oct 2017
    Overdraft: 350 £0 Oct2017 MBNA : 2400
    A journey of a thousand miles starts with a single step. I'm on my way!
    • Nicnak
    • By Nicnak 30th Nov 17, 7:11 PM
    • 544 Posts
    • 2,687 Thanks
    Nicnak
    Thanks for that. I'll have a look at it x
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • DebtFreeDuo
    • By DebtFreeDuo 30th Nov 17, 7:34 PM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    It is really hard finding that balance isn't it T&K? The change in my budget should open my eyes up to seeing how much of a budget I truly need.

    Today has been very productive, I have now completely finished all of my Christmas shopping, just need to wrap them up which I will do at some point next week whilst listening to some Christmas music with a nice G&T. I also bought my mums birthday present. I had a total of £80 in the gifts envelope, I spent more than this today but some of that was because I bought myself something that I have needed for some time.

    Spends

    £32 in boots - one Christmas present and one present for smalls school friend for the birthday party he has been invited to tomorrow, as both items were part of the 3 for 2 deal I then added in something for me. I didn't need anymore presents at this point but I knew I would need some eye make up in the next month or two. I got myself a lovely set with mascara, brow kit and eye liner. I saw it as money saving in the longer term and it also give me something that I can get DS to wrap for me.

    £30 mums birthday present, should have been £40 but was reduced.

    £17.53 - last two remaining presents

    £44.80 - this is the item I have both wanted and needed for a long time. My old coat was on its last legs and I have wanted a lovely smart coat since before last Christmas, saw this coat and fell in love with it, it should have been £70 but it had 20% off, I then saw the same coat in a different colour with fur around the neck, mine was missing this. Mentioned it at the check out and the lady went to find one with fur, she then gave me the option of having the one with fur or taking the one without but with a discount, I went for the discount which then bought it down by £11.20! So an expensive spend but it was quite a bargain!

    Total spends = £124.33!!

    I will be deducting the cost of the coat from the money that my dad gives me for Christmas so taking this in to account I am still within my budget (just) and managed to add in a present for myself. I felt guilty about spending so much on the coat but it was something I really needed, especially at this time of year and I can cover the cost of it. I know that if I didn't treat myself with the money from my dad then it would be eaten up by day to day costs as this is what generally happens.

    In other news, I received an email about the research I submitted my details for (worth £100 in amazon vouchers) to let me know they will be forwarding me some log in details to take part with! This is fantastic news for me as it will really give me a boost with birthday presents in January.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • Nicnak
    • By Nicnak 2nd Dec 17, 5:51 AM
    • 544 Posts
    • 2,687 Thanks
    Nicnak
    Morning,

    Have a good weekend x
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • DebtFreeDuo
    • By DebtFreeDuo 2nd Dec 17, 9:55 AM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    Thank you Nicnak, I hope you have a lovely weekend too x
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • Pauper1
    • By Pauper1 2nd Dec 17, 11:40 AM
    • 287 Posts
    • 2,356 Thanks
    Pauper1
    I think keeping warm should be a priority really, and if your dad will cover the costs then even better! Sounds like you got a good deal too. Sometimes we have to spend money and it's just about making the best decision we can. I had to buy a phone today, and previously I'd have just got a brand new, top of the range one on contract but I went to a local trade in shop and bought a second hand one within the budget I set myself.
    DMP start 1st May 2014 - £22,850 £39,349.41 Original DFD from Stepchange 6th Sept 2039... Aiming for 1st Nov 2026
    Priorities changed, sold our house, going through the settlement process and hope to be debt free by Christmas 2017
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

254Posts Today

1,257Users online

Martin's Twitter