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    • DebtFreeDuo
    • By DebtFreeDuo 20th Sep 17, 8:43 PM
    • 622Posts
    • 3,035Thanks
    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 21
    • DebtFreeDuo
    • By DebtFreeDuo 7th Dec 17, 9:56 AM
    • 622 Posts
    • 3,035 Thanks
    DebtFreeDuo
    Spoke to the garage this morning via their online chat, they phoned the guy who I dealt with yesterday who claimed he told me that there were fees involved, he definitely didn't, this has made me really disappointed, I thought I had found a garage that I could trust and I really liked the guy I dealt with yesterday until he outright lied. Have sent over an email to cancel the plan, had a missed call from the guy I dealt with yesterday but I just don't want to speak to him for him to lie to me over the phone. One thing that really ruins something for me is lies.

    DS was not very well again this morning, his eyes were very puffy and he didn't want to wake up. I wasn't sure whether to send him in but I have an assignment due in very soon and he had 2 days off at the start of the week thanks to sickness so I sent him in, I'm half expecting a phone call to pick him up.

    I've been feeling off for the last week or so, I don't know where my head is at the moment. Feeling like I'm completely falling off the wagon.

    Last year I received an overpayment of student finance, they haven't asked for it back yet and have said they won't be asking for it back for this year at least. I haven't previously put this into my debt totals and I probably should. This makes me feeling really down as it will make my debt figure shoot up. I have the totals written down on paper and on my spreadsheet but I'm not sure if I am ready to put it on my signature yet, especially as it hasn't yet been asked for and I assume that when it is asked for then I will be able to set up a payment plan for it. I think for now at least I am going to focus on the 3 debts I have here and then over the next 12 months I will save whatever I can towards the overpayment so that if they do ask for it back then at least I will be able to give them a chunk of it upfront.

    I need to have a productive day to get my mind off things today, money, personal life and uni are just really getting me down.
    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 7th Dec 17, 10:26 AM
    • 718 Posts
    • 3,321 Thanks
    ladymay
    I'm so sorry to hear you're having a tough time atm. I fee like you and I would have so much to talk about over a bottle of wine!

    Do you think you have to speak to the salesman again to cancel the plan? If so, as frustrating as it is get it done and tick it off the list. What will be the position with the car then - do you have everything done that you need now?

    You've got a lot on and it's totally understandable to feel overwhelmed, but you can do this xx
    Debt 14/04/12: £15736.77
    Debt 09/12/14 ZERO POUNDS
    Debt 15/10/17: £1714.40
    Debt 15/12/17: £1583.08
    Moving back to the UK 05/01/18
    • DebtFreeDuo
    • By DebtFreeDuo 7th Dec 17, 10:42 AM
    • 622 Posts
    • 3,035 Thanks
    DebtFreeDuo
    I'm with you on the bottle of wine, maybe we need to have a virtual chat/cry over a bottle of wine!

    I've emailed them to cancel the plan, its a different company that deal with it once it is set up, I've received confirmation that they have received my email and it will be processed within 28 days. The car passed its MOT no problem, the plan was for future services, just a way of budgetting for the services really, once I'm in a better position I will start a pot up again for my car anyway, hopefully I can start this in April.
    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 7th Dec 17, 1:09 PM
    • 622 Posts
    • 3,035 Thanks
    DebtFreeDuo
    Well I did receive a phone call to go and pick up DS so now he's at home with poorly eyes. No appointments at the doctors today so he won't be going back to school until next week. He's really having a tough time this week!
    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 7th Dec 17, 4:19 PM
    • 287 Posts
    • 2,357 Thanks
    Pauper1
    Oh bless you and DS! Sorry you're both having such a tough time. If you don't need to speak to the guy, then just block his number for now. When you're feeling more up to it, maybe consider writing an email/letter to express your disappointment.

    I definitely go through phases where I feel like I just can't focus on anything, it makes me feel really demotivated so hopefully you have managed a productive day as I feel like that could help? Either way, I'm sure it will pass soon. Sending strength!
    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 7th Dec 17, 4:37 PM
    • 622 Posts
    • 3,035 Thanks
    DebtFreeDuo
    Thank you Pauper. I haven't had a productive day so far with DS being off unfortunately and we are supposed to be having snow tomorrow, if we do I am taking DS out to have some fun.

    Anyone remember the assignment I was having problems with? The one with the horrible software followed by arrogant lecturer? Well I just received my grade back for it and I got 100%! It was very easy to write but I cracked the software all on my own. Now I am feeling motivated to get some work done, must make the most of this motivation this evening once DS is in bed.
    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 7th Dec 17, 5:44 PM
    • 718 Posts
    • 3,321 Thanks
    ladymay
    THAT'S AMAZING!!!

    Huge well done to you, AND you did it all on your own I hope you have an easy night with DS, get well soon little one!

    And a huge yes to the glass of virtual wine. After the studying x
    Debt 14/04/12: £15736.77
    Debt 09/12/14 ZERO POUNDS
    Debt 15/10/17: £1714.40
    Debt 15/12/17: £1583.08
    Moving back to the UK 05/01/18
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 7th Dec 17, 5:56 PM
    • 2,268 Posts
    • 10,900 Thanks
    HairyHandofDartmoor
    Well done on your 100% grade that's amazing. That's how you overcome adversity .

    I'm sorry about your car service deal and glad you can cancel it. I would save up a car service pot rather than be tied in with any sort of deal with a garage, it's generally more to their benefit than yours .

    I hope poor DS gets better soon.

    I would ignore the student loan overpayment for now and focus on the other debts, that will make you feel more on top of things. One step at a tine .
    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 7th Dec 17, 7:04 PM
    • 622 Posts
    • 3,035 Thanks
    DebtFreeDuo
    Thank you both, I've had a nice day with DS, going to take him to the doctor tomorrow to sort his poor eyes, they are so poorly.

    Definitely after the studying ladymay and it will be a very large glass!

    I don't know why they have to charge fees Hairy, surely being guaranteed the MOT each year and most likely any repairs they will already be making enough money out of people. I like the idea of a service plan but not if it means paying more for it overall.

    I think I am going to ignore the overpayment for now, I will aim to put all my spare money into my SPC and then this way I will have a good amount in there anyway ready for when they do ask for it back. It could be a case of them waiting until I have finished my studies anyway which is going to be another few years.

    In January I am going to have to add some of my overdraft onto my debt total because of paying the whole of my car loan off, I don't think my debt will drop quite as much as I wanted it to, especially with my more realistic budgets but I will get there and it will still be going in the right direction.
    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 7th Dec 17, 7:46 PM
    • 546 Posts
    • 2,710 Thanks
    Nicnak
    Amazing on the 100% congratulations. x

    Hope DS is doing better soon, sore eyes are awful and you really feel bad and can't take it away from them.

    I would be disappointed with the garage too. You try to find one that will support you and also not rip you off, hopefully next time you will. It is a good idea to plan for services in advance though, perhaps another virtual pot?
    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 7th Dec 17, 8:11 PM
    • 622 Posts
    • 3,035 Thanks
    DebtFreeDuo
    Thank you Nicnak, thankfully he is fine in himself.

    I will get to a stage where I have pots for everything but at the moment I think saving anything will be a miracle. I just want to make it through to April paying off the debts I have planned to pay off. I'm not hugely concerned with the money I have to pay for things for the time being, I know that I have my ISA if I face a real emergency. I'm trying to go for the little steps approach so first I will tackle my actual spending and stop myself from overspending, then once I have that down I can focus on having my pots. At the moment I feel like my spending and sticking to what I have budgeted is the priority, this should automatically lead to a surplus (fingers crossed), other things should then follow.
    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 8th Dec 17, 6:49 AM
    • 287 Posts
    • 2,357 Thanks
    Pauper1
    Well done on your assignment! That's amazing. And fingers crossed for snow. We're due a little bit tomorrow but along with rain
    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 8th Dec 17, 1:19 PM
    • 622 Posts
    • 3,035 Thanks
    DebtFreeDuo
    Lots of lovely snow for us today which meant school was closed anyway. We went food shopping this morning as we were desperate and then came home and built a huge snowman! More snow is supposed to be on the way this afternoon.

    My food budget is looking very healthy this month, as we were both sick at the start of the month a friend very kindly bought us some food round which saved me having to shop at all until now. My budget for the month was £150, I reduced this down to £120 thanks to my friend who wouldn't take anything. This meant that I could split this down to £40 a week for the rest of the month. Todays shopping which should last the whole week came in at £32.88 which included £6 just on juice! This was helped by me having meat in the freezer but I think I probably have enough in there for 2/3 weeks so I will save the remaining money for the last week just incase but if its not used then its going in my pot for the SPC.

    I'm feeling much more positive today, I had a week where I was completely off the rails but I'm now feeling ready to tackle the debt again. I think only being able to overpay once every few months doesn't help.

    Remaining budget for December

    Food - £87.12 - This only has to cover 2 weeks but does include Christmas.

    Fuel - £60 - Currently still have half a tank left, a full tank can last me anywhere between 2 - 6 weeks depending on my plans but more driving will be required over Christmas so I am keeping this here for now.

    Gifts - £10 - This is just incase I think of someone I had forgot about.

    Other - £60 - I'm hoping I will have most of this left to carry into January but things always seem to creep up.
    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 9th Dec 17, 7:23 AM
    • 546 Posts
    • 2,710 Thanks
    Nicnak
    I love looking at your single budgets. I just seem to have one pot, and can't seem to divvy up what I have into single ones.

    Hopefully next year, I might be able to do this 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 9th Dec 17, 8:40 AM
    • 622 Posts
    • 3,035 Thanks
    DebtFreeDuo
    I find it difficult myself Nicnak and I am yet to stick with it for a whole month but I'm hoping this month will be different. If I can start sticking to my budgets then when April arrives I can start sending money to my savings account monthly to cover my annual costs.

    Next year I'm hoping my annual costs only include home & car insurance and my MOT. Christmas and birthdays will be covered with survey money if I can keep on top of it. My car insurance is due around the time where I hope to have paid off my bigger debts so I will have spare money from my student finance to cover it but from late 2018/start of 2019 I want my SOA budget to be in full flow.
    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 9th Dec 17, 8:43 AM
    • 622 Posts
    • 3,035 Thanks
    DebtFreeDuo
    Today the snow is still looking amazing and we are off to see Santa! My dad booked it for us a little while back so we didn't know it would snow but it will make it so magical for DS (as long as it is still around late afternoon). As Santa is already paid for (thank you dad) then I am hoping today will be a NSD.
    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 9th Dec 17, 7:10 PM
    • 622 Posts
    • 3,035 Thanks
    DebtFreeDuo
    Have had a wonderful day today, went to see Santa followed by a circus show. DS had a wonderful time.

    Read the 1% challenge and I really like the sound of it. I think I am going to join in January, once my debts are completely stable. This will happen in January because my CC will be cleared which I have been using to get the £10 reward.
    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
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 9th Dec 17, 7:40 PM
    • 2,268 Posts
    • 10,900 Thanks
    HairyHandofDartmoor
    I'm glad you and DS had a great day seeing santa and the circus .
    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 10th Dec 17, 10:12 AM
    • 622 Posts
    • 3,035 Thanks
    DebtFreeDuo
    The snow outside is amazing, I haven't seen decent snow for years, there has to be at least 6 inches out there and its still coming down.

    Nothing MSE to report today, it will be a NSD as I don't plan on going anywhere. I don't mind driving in the snow but the roads are just as covered as the footpath and I would have to drive up a big hill and I know my car wouldn't make it. Will venture in the garden so DS can play in the snow but also have the warmth of home for when he starts complaining that his feet are cold.
    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 10th Dec 17, 1:46 PM
    • 546 Posts
    • 2,710 Thanks
    Nicnak
    We have none here so can’t show little one.
    Enjoy your day xx
    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
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