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  • FIRST POST
    • Caspeia
    • By Caspeia 13th Nov 17, 3:16 PM
    • 16Posts
    • 21Thanks
    Caspeia
    Debt free dream
    • #1
    • 13th Nov 17, 3:16 PM
    Debt free dream 13th Nov 17 at 3:16 PM
    Hello!
    We're a family of four, 2 adults, a 2.5 year old and a 2 month old. We also have 4 cats and a fish! Me and my partner are in our early twenties and we are getting married in March 2018.

    I'm normally the one who controls the money (and was quite good at it!) but I've struggled with my mental health recently and have just been spending money left right and centre so we've built up a bit of debt,

    Our debt currently stands at:

    Honeymoon: £87.50 (due by 26th December)
    CC1: £1643.36 (0% interest until Feb 2018)
    CC2: £1155.40 (0% interest until November 2019)
    Sofa: £1449.56 (0%, on payment plan until its finished)

    Total: £4335.82

    I would like to pay it all off before December 2018 so we can start saving for a deposit on our own house.

    My first goal is to pay off the first credit card before the interest is up and also to pay off the honeymoon. I've got a direct debit to pay £25 off CC2 which is double the minimum payment and the sofa payment is £46.76 a month so that will also be going down but these two are not my priority yet.
    I also don't have anything saved up for the wedding, my parents are paying for most of it but I don't have anything to cover my share. I need to work out how much that will be.

    This month is really difficult as my partner has gotten a new role at work but he's becoming a salaried member of staff which means he's moving from weekly pays to monthly paid. We have 3.5 weeks that he won't be getting paid and I'm only on maternity pay. I need to work out how much we have until Friday.
    Last edited by Caspeia; 20-11-2017 at 7:36 PM. Reason: accidentally put wrong figures in
Page 2
    • Caspeia
    • By Caspeia 1st Dec 17, 5:57 AM
    • 16 Posts
    • 21 Thanks
    Caspeia
    Gym is on 6 month contract, i cant cancel it before. I'm not entirely sure why I even took out a membership, i never go!

    Driving lessons have been stalled for the now.

    But on a positive note, he has a job at amazon! Induction tomorrow and will start next week! 4 nights a week. Its only a christmas contract but better than nothing anyway. Travel is the main downfall, depending on the day of the week its 1.5hr to 3hr commute. Its only a 40 minute drive but buses arent very good around here and expensive. Its £8.70 for a day ticket. I think theres a weekly ticket for £28 but will need to check.
    As soon as we can we will restart his driving lessons and hopefully get him passed his test.

    Amazon are well known for getting rid of people left right and centre so we arent getting our hopes up too much and will just take things as they come
    Pay is £357 a week before tax, its actually more than he was on before.
    • Caspeia
    • By Caspeia 1st Dec 17, 6:12 AM
    • 16 Posts
    • 21 Thanks
    Caspeia
    Oh another positive note, he actually passed his theory test on Tuesday. We booked it ages ago, he didnt feel prepared and he'd have to pay the bus money to get there so was originally was just not going to go. We didnt realise until the night before as we had been so concerned about his job it had slipped our minds. We decided just to take a risk, might aswell try it since he had paid for it and he passed!
    • Pauper1
    • By Pauper1 1st Dec 17, 6:44 AM
    • 287 Posts
    • 2,355 Thanks
    Pauper1
    Hi Caspeia, I'm sorry about your partner's job. Hopefully he'll get taken on permanently by Amazon after Xmas and you'll end up in a better position than before! Good news about the theory test too.
    I also put quite a lot of my debts down to MH and I think it's quite common. Your figures are totally manageable and you're young, which goes in your favour! Good luck, you've got this!
    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
    • Caspeia
    • By Caspeia 11th Dec 17, 8:03 PM
    • 16 Posts
    • 21 Thanks
    Caspeia
    Not updated in a while...

    Money wise we're good, bit of a lull between starting work and getting first pay. He'll get paid on Friday and should be around £350, this week he is doing 11hrs overtime and will come out with around £530 before tax next week! We're trying to decide what to do about buses. A weekly ticket costs £28.70, to get there he is leaving at 5pm for a 7pm start, he finishes at 5.30am and then doesn't get home till 7.15am. It means he is out of the house for 14hr 15min a day, if he was to get the staff bus which takes him half way home he'd save half an hour on the way to work and 45 minutes on the way home. Meaning his total time out of the house is about 13hrs, it would give him more time with the kids as currently he gets in and goes to sleep, wakes up at 2.30pm gets ready, picks toddler up at 3.30pm and then has an hour and a half until he needs to leave. He says he feels like he hasn't seen us at all these days, the staff bus is £2 each way. He has to get the staff bus on a Sunday morning as there is no public buses until 7.30am so I pick him up off the bus. So currently total cost is £30.70 a week.
    He is doing 5 shifts a week, so that would be £20 extra a week. We're umming and ahhing about if we should pay the extra for the staff bus since it would mean a shorter commute and more time with the kids. Even if he was to get the staff bus half of the time.

    Theres also a monthly ticket for £110.30 which saves around a tenner compared to buying 4 weekly tickets plus a couple of days of a 5th weekly ticket.

    I haven't paid anything off the credit cards but I also haven't spent a penny on them! Very happy. On Friday I will pay some money off. I need to update totals from when I bought the wedding stuff in the previous post and the balance transfer I did. I will do this is in a new post.
    • Caspeia
    • By Caspeia 11th Dec 17, 8:20 PM
    • 16 Posts
    • 21 Thanks
    Caspeia
    Halifax: £670 (0% until June 2018)
    Lloyds: £1268.78 (0% until November 2019)
    TSB: £978.03 (0% until September 2018)
    Sofa: £1449.56

    Total: £4366.37

    I've been putting some money aside for the cats and wedding.
    I have £120 towards their food, I need £165.60 and I have 12 days food left so I will need to order soon. I will order after Fridays pay.

    In the wedding fund we now have £110
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