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  • FIRST POST
    • DebtFreeDuo
    • By DebtFreeDuo 20th Sep 17, 8:43 PM
    • 156Posts
    • 739Thanks
    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 5
    • Nicnak
    • By Nicnak 12th Oct 17, 8:08 AM
    • 128 Posts
    • 317 Thanks
    Nicnak
    It's ok, I just made it up.

    I might change the last line to
    Merry Christmas to you rather than to all.
    Sounds better!
    September 6th 2017 start Updated 24th September
    Credit Card £430 now: £0
    Tesco Loan £7500 = £7220
    Car loan £17450 = £17,099
    Total = £25,380 £24,319
    • DebtFreeDuo
    • By DebtFreeDuo 12th Oct 17, 11:15 AM
    • 156 Posts
    • 739 Thanks
    DebtFreeDuo
    Well I think its great Nicnak, I'm not very good with poems so thank you, you have been a great help!

    Just had a look at cashing out on PA, can any give me any advice on Circle? Obviously I would much rather avoid the fees incurred through PP but I have never heard of this other one? Does anyone have any experience of using them to receive their earnings?
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £76.84/£150..NSD October 4/15
    • EssexHebridean
    • By EssexHebridean 12th Oct 17, 1:00 PM
    • 7,998 Posts
    • 41,363 Thanks
    EssexHebridean
    I know CheeryDaff has used Circle with no problems if that helps! I think Hidden might do as well? I admit I've stuck with PayPal but I tend to cash out at £10 anyway - I always make sure it's just high enough that I still clear the £10 mark once the fees are taken.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£516.67 (29/08/17)
    • 117pauline
    • By 117pauline 12th Oct 17, 1:52 PM
    • 308 Posts
    • 4,529 Thanks
    117pauline
    I have used Circle with no problems at all. Surveys take long enough without losing a percentage to PayPal as well.

    Niknac's poem is wonderful.

    I just think it is such a shame that there is such advertising pressure to buy at Christmas. There seems so much pressure on us to have the PERFECT Christmas with the PERFECT gifts, dressed in PERFECT clothes, eating PERFECT food. I blame the coke ads!!!!

    For me, the best memories are when things haven't gone to plan. The year when my three year old got up on Christmas morning at 2am, opened every single present under the tree. He unwrapped each parcel then placed it very tidily on the living room floor with all the wrapping neatly tucked underneath. It took hours to rewrap everything - we were staying with family so couldn't just leave it

    Good luck with your present search. I hope you manage to find just what you are looking for. Perhaps early next year you can do as Martin suggests and come to a family decision about reducing the number of presents.

    Take care
    Pauline
    Don't get it perfect - Get it going
    Better Than Before
    • DebtFreeDuo
    • By DebtFreeDuo 12th Oct 17, 7:14 PM
    • 156 Posts
    • 739 Thanks
    DebtFreeDuo
    Thats exactly how I feel Pauline, don't want to lose a percentage when it takes so long to build it up.

    Doing good on the NSDs this month so far, think I will easily hit my goal of 15 NSDs. Trying to up the extra income although I'm struggling with the balance at the moment with mummy duties and studying, I know I will find the balance in another week or so.

    Enjoying a nice bottle of wine tonight that I have had in the fridge for a couple of weeks whilst the small is away, I need it this evening.
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £76.84/£150..NSD October 4/15
    • DebtFreeDuo
    • By DebtFreeDuo 13th Oct 17, 3:55 PM
    • 156 Posts
    • 739 Thanks
    DebtFreeDuo
    Well I finished off the whole bottle last night which led to more spends than normal today, spent just under £10 which did include £3.50 on car parking so not too bad, the rest went on food and drinks to try and make myself feel a little more human. Bought a present with some of my amazon vouchers - a sweet shop for £7.98 which includes some sweets, not sure who this is going to yet but I thought this would be something that most children would love.
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £76.84/£150..NSD October 4/15
    • DebtFreeDuo
    • By DebtFreeDuo 13th Oct 17, 8:13 PM
    • 156 Posts
    • 739 Thanks
    DebtFreeDuo
    Another Christmas present sorted for £7.98, very impressed with myself for getting these presents sorted under my budget of £10 and all from amazon so using up the vouchers I have. Also ordered one of the craft sets that Nicnak kindly showed me.
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £76.84/£150..NSD October 4/15
    • Nicnak
    • By Nicnak 14th Oct 17, 6:59 AM
    • 128 Posts
    • 317 Thanks
    Nicnak
    Another Christmas present sorted for £7.98, very impressed with myself for getting these presents sorted under my budget of £10 and all from amazon so using up the vouchers I have. Also ordered one of the craft sets that Nicnak kindly showed me.
    Originally posted by DebtFreeDuo
    I always get a strange happy feeling when I am under budget and also using vouchers and not why own money!
    September 6th 2017 start Updated 24th September
    Credit Card £430 now: £0
    Tesco Loan £7500 = £7220
    Car loan £17450 = £17,099
    Total = £25,380 £24,319
    • DebtFreeDuo
    • By DebtFreeDuo 14th Oct 17, 9:01 AM
    • 156 Posts
    • 739 Thanks
    DebtFreeDuo
    I always get a strange happy feeling when I am under budget and also using vouchers and not why own money!
    Originally posted by Nicnak
    I am really enjoying trying to find bargain presents that are keeping me well below budget but also that don't look too cheap, I think I'm becoming a little addicted!

    I forgot about a high street voucher that I won in a raffle from school so this is an extra £10 to go towards Christmas, I'm going to use this for smalls main present which I have decided on which is coming in at £35, £25 of this will have to come from my money rather than vouchers but I'm hoping the rest of Christmas will come from my remaining amazon vouchers. Not buying the small anything else unless I have something remaining voucher wise which I highly doubt. He won't be without as he gets plenty from others and he has only asked for 2 things which are already covered.
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £76.84/£150..NSD October 4/15
    • DebtFreeDuo
    • By DebtFreeDuo 14th Oct 17, 11:04 AM
    • 156 Posts
    • 739 Thanks
    DebtFreeDuo
    Put in a request for early settlement quotes for both my loans which I have been going over this morning, it would appear that I pay the balance plus 2 months of interest plus another couple of quid. By paying off my car loan in January I will save myself approximately £65 but if I pay off my other loan early I will only save myself around £10. I'm not sure if its really worth paying it off early or just leaving the direct debit to come out each month with the last payment coming out on 1st Dec 18. I have over 6 months to think on this but any input would be appreciated.

    Had payments come out for car loan and CC today so debts now stand at:

    Loan = 2065.32
    Car Loan = 2292.94
    CC = 1036.90

    Total = 5395.16

    Can't wait to get this total under the 5k mark although this won't happen until 1st Dec but then I will almost halve it in January which is a very exciting thought!
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £76.84/£150..NSD October 4/15
    • Nicnak
    • By Nicnak 14th Oct 17, 3:06 PM
    • 128 Posts
    • 317 Thanks
    Nicnak
    I am really enjoying trying to find bargain presents that are keeping me well below budget but also that don't look too cheap, I think I'm becoming a little addicted!

    I forgot about a high street voucher that I won in a raffle from school so this is an extra £10 to go towards Christmas, I'm going to use this for smalls main present which I have decided on which is coming in at £35, £25 of this will have to come from my money rather than vouchers but I'm hoping the rest of Christmas will come from my remaining amazon vouchers. Not buying the small anything else unless I have something remaining voucher wise which I highly doubt. He won't be without as he gets plenty from others and he has only asked for 2 things which are already covered.
    Originally posted by DebtFreeDuo
    It does get addictive, doesn't it!

    I'm no good understanding when you'd be better off or how best to do it. Obviously £65 is better for you, but if you need the money in the long run then keeping it is paying it off automatically.

    I guess you'll need to review whether paying it off will be financially the best thing month by month.
    September 6th 2017 start Updated 24th September
    Credit Card £430 now: £0
    Tesco Loan £7500 = £7220
    Car loan £17450 = £17,099
    Total = £25,380 £24,319
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 14th Oct 17, 3:16 PM
    • 1,370 Posts
    • 3,245 Thanks
    HairyHandofDartmoor
    Put in a request for early settlement quotes for both my loans which I have been going over this morning, it would appear that I pay the balance plus 2 months of interest plus another couple of quid. By paying off my car loan in January I will save myself approximately £65 but if I pay off my other loan early I will only save myself around £10. I'm not sure if its really worth paying it off early or just leaving the direct debit to come out each month with the last payment coming out on 1st Dec 18. I have over 6 months to think on this but any input would be appreciated.

    Had payments come out for car loan and CC today so debts now stand at:

    Loan = 2065.32
    Car Loan = 2292.94
    CC = 1036.90

    Total = 5395.16

    Can't wait to get this total under the 5k mark although this won't happen until 1st Dec but then I will almost halve it in January which is a very exciting thought!
    Originally posted by DebtFreeDuo
    Wow halving your debt would be such a good feeling Paying them off early would give you a great feel good factor, as long as you'd have enough to live on afterwards. £65 is a significant amount to my mind.
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt at highest = £58,766
    Current debt = £16,234, Emergency Fund = £200
    Long Hauler No. 156 Spendaholics Anonymous No. 47
    • DebtFreeDuo
    • By DebtFreeDuo 14th Oct 17, 5:02 PM
    • 156 Posts
    • 739 Thanks
    DebtFreeDuo
    I'm definitely going to settle the car loan early, it's the other one I'm not sure is worth settling early if I'm only going to save £10 in interest. The £65 I have no doubts on as this is a lot of money for me to save but paying back £1200 7 months early only to save £10. Instead I might pay off the credit card and have an emergency fund that I wouldn't be quite as reluctant to touch.
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £76.84/£150..NSD October 4/15
    • Nicnak
    • By Nicnak 14th Oct 17, 5:26 PM
    • 128 Posts
    • 317 Thanks
    Nicnak
    That sounds like a plan that would better suit you. You might be better having that emergency fund.

    It's getting exciting x
    September 6th 2017 start Updated 24th September
    Credit Card £430 now: £0
    Tesco Loan £7500 = £7220
    Car loan £17450 = £17,099
    Total = £25,380 £24,319
    • DebtFreeDuo
    • By DebtFreeDuo 15th Oct 17, 9:46 AM
    • 156 Posts
    • 739 Thanks
    DebtFreeDuo
    Just a quick update on spends left: 314.13 this has dropped by 36.46 after buying a few Christmas presents and my slight overspend then adding on the voucher. I need to pop out for a small top up shop (milk, bread, fruit) which I'm hoping will come in at less than £15. Still have some meat to use up in the freezer which I'm trying to stretch out to last as long as possible.
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £76.84/£150..NSD October 4/15
    • DebtFreeDuo
    • By DebtFreeDuo 15th Oct 17, 11:27 AM
    • 156 Posts
    • 739 Thanks
    DebtFreeDuo
    Found the present that DS wanted for £26.99 with free delivery saving me £8, the downside is that I couldn't use the voucher but I had already accepted that I was going to have to use £25 of my own money rather than vouchers so its only cost £2 more and I still have a voucher to use in a lot of well known places so will definitely come in useful for Christmas.
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £76.84/£150..NSD October 4/15
    • DebtFreeDuo
    • By DebtFreeDuo 15th Oct 17, 1:18 PM
    • 156 Posts
    • 739 Thanks
    DebtFreeDuo
    Total spends left:267.94. Food shop came in at £19.20. There were a couple of things I bought which I could have left out which would have bought it in at under the £15 but they are mostly things that I can use to create a whole meal with (like baking potatoes which could do up to 6 meals). The only things I really spoilt myself and DS with was orange juice and grapes, DS loves his grapes.
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £76.84/£150..NSD October 4/15
    • Nicnak
    • By Nicnak 15th Oct 17, 1:49 PM
    • 128 Posts
    • 317 Thanks
    Nicnak
    Hardly breaking the bank or splurging. Great news on the toy too x
    September 6th 2017 start Updated 24th September
    Credit Card £430 now: £0
    Tesco Loan £7500 = £7220
    Car loan £17450 = £17,099
    Total = £25,380 £24,319
    • Hiddenidenity
    • By Hiddenidenity 15th Oct 17, 2:09 PM
    • 5,036 Posts
    • 22,795 Thanks
    Hiddenidenity
    I do use circle. I much prefer it to paypal plus the bonus is having no fees.

    I've never had an issue. PA process the cashouts on Tuesday and Friday. It hits circle almost immediately then withdraw to bank (not card) and its in the bank within 2 hours.

    If you sign up there is a referral post on the referrers board.
    If you sign up this way and add your card and bank account when you send your first £25 you along with who's referral you use get a free £5

    Amazed at how well your doing x
    DFW £1388.71/£7348.71 Rent Arrears £511.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
    • DebtFreeDuo
    • By DebtFreeDuo 15th Oct 17, 2:14 PM
    • 156 Posts
    • 739 Thanks
    DebtFreeDuo
    I do use circle. I much prefer it to paypal plus the bonus is having no fees.

    I've never had an issue. PA process the cashouts on Tuesday and Friday. It hits circle almost immediately then withdraw to bank (not card) and its in the bank within 2 hours.

    If you sign up there is a referral post on the referrers board.
    If you sign up this way and add your card and bank account when you send your first £25 you along with who's referral you use get a free £5

    Amazed at how well your doing x
    Originally posted by Hiddenidenity
    Thank you, I already signed up to circle although I haven't used it just yet, I wish I had known about the referral beforehand, I definitely would have gone through that. Will check out the refferal board before signing up to anything in future.

    PA has been awful for me over the last week, haven't had a single thing through, really frustrating getting a little over £20 in no time and then getting nothing for a week after.
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £76.84/£150..NSD October 4/15
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