Inspired by Ms London!!

babysaver

I've been using this site for years now and have got my debts all sorted into manageable chunks - but they're quite big chunks!!

After reading all of the congratulations to Ms London and her newly acquired debt-free status, I decided to post my countdown to debt-free date on here to help keep me on track...

I don't have any credit card debt any more (just use them for cashback and pay off every month now) but Mr Babysaver and me have 3 big loans...

Lombard: 62 months left @ £433.03 p/m - 12% APR = 26847.86
Abbey: 59 months left @ 270.42 p/m - 6.9% APR = 15954.78
Northern Rock: 97 (!!) months left @ 198.75 p/m - 6% = 19278.75

Total debt (not counting mortgage) = £62081.31 - that's pretty scary to see written down!

Okay, that's me come clean - just need to update it every month

roversbabe

Good luck babysaver - Ms London has been a total inspiration!

Willsnarf1983

hey as they say

" you gotta start somewhere!!!"


good luck and keep posting!


Will

*Sparkle*_3

Yes good luck to you, keep visiting regular to keep on top of things! You can do it, go girl!!

babysaver

Thanks for all your encouragement! I go through phases now of using this site (I was addicted for about a year!) but this will keep me on the straight and narrow...

johannamse

You need to find out if you can make overpayments on any of your loans, and if you then can you need to throw every penny toward the one with the highest APR.

REMEMBER...EVERY PENNY COUNTS!

Get ebaying, get moneysaving!

Quasar

babysaver, all you need is the determination you are showing. The rest just follows.
Keep it up and chat to us often! :T

Avogirly

babysaver wrote:

Thanks for all your encouragement! I go through phases now of using this site (I was addicted for about a year!) but this will keep me on the straight and narrow...

I'd rather be adddicted to this site, than to spending the money I don't have!!!!

pink_fairy_7

Good luck and keep posting. And yes Ms_london is an inspiration :T

good luck

pink fairy x

Penny-Pincher!!

Hi Babysaver

Well done for all you've achieved so far! I think sometimes although shocking it does help to see the debt and money we owe written down :eek: gives us some sort of focus and goal to work towards.

I have 6 more payments then we are debt free Once this is done we need a newer car and am saving towards a conservatory, so will be getting abit more in debt but this is manageable debt and will be at 0%, its the last big bits we need to pay for.

Good Luck

PP
xx

ms_london

babysaver wrote:

Lombard: 62 months left @ £433.03 p/m - 12% APR = 26847.86
Abbey: 59 months left @ 270.42 p/m - 6.9% APR = 15954.78
Northern Rock: 97 (!!) months left @ 198.75 p/m - 6% = 19278.75

Total debt (not counting mortgage) = £62081.31 - that's pretty scary to see written down!

Well done for clearing the other debt, at least these are in "one place" (well, three places, but you know what I mean) and the APR's seem pretty good, just keep your eyes open for any new loans that might come onto the market, perhaps with a view of consolidating if the right deal comes up & your credit rating lets you.

Definately stay around the Boards, they are motivating in itself, and gives us all a chance to talk money, whether thats to whinge about not having any or deciding how to spend it :0) There are loads of us in the same boat, but you are doing a fab job, so keep up the good work. Perhaps as your circumstances change (i.e. payrise, lottery win etc etc) you could snowball more into your debt, but you are doing great as it is.

*blush* I feel like a bit of a celebrity!! Who wants my autograph :0)