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    • DebtFreeDuo
    • By DebtFreeDuo 20th Sep 17, 8:43 PM
    • 796Posts
    • 4,106Thanks
    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.
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    • ladymay
    • By ladymay 4th Mar 18, 2:32 PM
    • 887 Posts
    • 3,776 Thanks
    Agree with Niknak completely, congratulations on the new achievement - over a third gone!!
    Moved back to the UK 05/01/18
    New Job and New Business
    2018 Aim - Save £10k
    • Nicnak
    • By Nicnak 11th Mar 18, 7:18 PM
    • 861 Posts
    • 4,765 Thanks
    You're quiet at the minute. I hope you are managing your anxiety and feeling ok?

    It's almost April, which I know was another big stepping stone for you. x
    September 6th 2017 - Updated 21st January 2018
    Credit Card £0 now: £995 Tesco Loan £7500 = £0 Consolidation £15,000 = £14,271 Total = £25,330 £15,266 37% gone EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
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