First one to clear 15k gets a paper hat

clearmydebts

Morning Doodledoo and everyone else!

Have updated my signature. Will have a few more bits and pieces to pay over the next few days. My new aim is to get my sig under 17k after next months pay day. It's time to start making some money again!

savingholmes

Hi guys well I am updating my sig by just over my minimum payments today £205!

Hope you are all well. The sun is shining today after a few days of rain and I am starting to feel better already LOL!

clearmydebts

savingholmes wrote: »

Hi guys well I am updating my sig by just over my minimum payments today £205!

Hope you are all well. The sun is shining today after a few days of rain and I am starting to feel better already LOL!

Your paper hat signature looks so healthy SavingH!!!!

savingholmes

clearmydebts wrote: »

Your paper hat signature looks so healthy SavingH!!!!

Thanks CMD - a lot of it is down to a bonus I got - I paid £1K off my debt and put £2K in savings and left a decent chunk in our bills account..... If I get a job soon I will use that £2K to pay off debt if not eventually we may need to live off it! At current calcs tho, if we are careful with our money - unless we choose to use savigns to repay debt we should be able to manage without touching them until around the end of August which is amazing.

One of OH's interest free cards expires in July - so we may then pay off the £2k (but it wouldn't change my sig) and then transfer the balance to an existing card at 3.45%. There is one thing that having one income only does for you - it certainly concentrates the mind and you see all the hidden things you have been spending money on! If I get another job soon, while I still also have a bonus cushion in our bills account, we should be able to reach the paper hat figure by Christmas! If not - in about 4 years :rotfl:

clearmydebts

savingholmes wrote: »

Thanks CMD - a lot of it is down to a bonus I got - I paid £1K off my debt and put £2K in savings and left a decent chunk in our bills account..... If I get a job soon I will use that £2K to pay off debt if not eventually we may need to live off it! At current calcs tho, if we are careful with our money - unless we choose to use savigns to repay debt we should be able to manage without touching them until around the end of August which is amazing.

One of OH's interest free cards expires in July - so we may then pay off the £2k (but it wouldn't change my sig) and then transfer the balance to an existing card at 3.45%. There is one thing that having one income only does for you - it certainly concentrates the mind and you see all the hidden things you have been spending money on! If I get another job soon, while I still also have a bonus cushion in our bills account, we should be able to reach the paper hat figure by Christmas! If not - in about 4 years :rotfl:

Yeah, I am totally with you on the one wage thing. it disgusts me to think how much money we wasted when we were on 2 wages. In a way I am glad we went down to one wage as I will never get myself into that mess again. Saying that, I hope OH lands a job fairly soon after finishing uni as I am looking forward to really denting the debts!

savingholmes

clearmydebts wrote: »

Yeah, I am totally with you on the one wage thing. it disgusts me to think how much money we wasted when we were on 2 wages. In a way I am glad we went down to one wage as I will never get myself into that mess again. Saying that, I hope OH lands a job fairly soon after finishing uni as I am looking forward to really denting the debts!

Yeah I'm totally shocked :shocked:at how much money we have frittered away over the years. Even since my LBM I have been quite complaiscent :whistle: patting myself on the back over how well we were doing but really if we implemented what we have now (I am unemployed) we should have been paying off at least £500 more a month and at least some of the time up to £1000 more. As if we can manage now on one wage plus a bonus cushion - and my OH earns less than me - we should have easily been able to pay off more while we were on 2 wages... But then we live and learn....:rolleyes2

I want a job right NOW so I can crack on with debt busting while the lesson is still fresh! I've worked out that if we paid £1500 a month to our mortgage once we are debt free on top of our current £750+ interest only payment it would take about 7 years or so to be mortgage free too! Now that would be truly amazing! I want to fit in my dream holiday tho between paying off debt and starting on the mortgage repayment - which could cost about £6K but at £1500 per month that would only be 4 months of savings!!! All dream world right now tho unless I get a job soon! But what a motivation - Florida, disney, sea world

Strangely with all this time on my hands it has focused even more on this website and therefore on money saving! If we could pay off our debt and then our mortgage within that kind of timescale we could then help support our DS thro uni, and he would have finished by the time DD comes thro and needs help. My parents were always stingy misers (I think that is why I became the opposite - generous to a fault!) and while I don't want our kids to just expect stuff I never want to be like my parents either..... It would be fantastic if we could help our kids come out of uni debt free! :beer:That way hopefully they might not get hooked by debt from the beginning! Just a few very tiny, microscopic goals :rolleyes: there to be getting on with!

I talk to my DS quite a bit about money, I tell him where we went wrong and what we are doing about it. He is only 11 bless :rotfl:but I am hoping if we can get him to understand money from here on in then hopefully he will be much better with it as an adult than we used to be!

clearmydebts

savingholmes wrote: »

Yeah I'm totally shocked :shocked:at how much money we have frittered away over the years. Even since my LBM I have been quite complaiscent :whistle: patting myself on the back over how well we were doing but really if we implemented what we have now (I am unemployed) we should have been paying off at least £500 more a month and at least some of the time up to £1000 more. As if we can manage now on one wage plus a bonus cushion - and my OH earns less than me - we should have easily been able to pay off more while we were on 2 wages... But then we live and learn....:rolleyes2

I want a job right NOW so I can crack on with debt busting while the lesson is still fresh! I've worked out that if we paid £1500 a month to our mortgage once we are debt free on top of our current £750+ interest only payment it would take about 7 years or so to be mortgage free too! Now that would be truly amazing! I want to fit in my dream holiday tho between paying off debt and starting on the mortgage repayment - which could cost about £6K but at £1500 per month that would only be 4 months of savings!!! All dream world right now tho unless I get a job soon! But what a motivation - Florida, disney, sea world

Strangely with all this time on my hands it has focused even more on this website and therefore on money saving! If we could pay off our debt and then our mortgage within that kind of timescale we could then help support our DS thro uni, and he would have finished by the time DD comes thro and needs help. My parents were always stingy misers (I think that is why I became the opposite - generous to a fault!) and while I don't want our kids to just expect stuff I never want to be like my parents either..... It would be fantastic if we could help our kids come out of uni debt free! :beer:That way hopefully they might not get hooked by debt from the beginning! Just a few very tiny, microscopic goals :rolleyes: there to be getting on with!

I talk to my DS quite a bit about money, I tell him where we went wrong and what we are doing about it. He is only 11 bless :rotfl:but I am hoping if we can get him to understand money from here on in then hopefully he will be much better with it as an adult than we used to be!

Sounds like a great plan SavingH - and a great start for your children as well!

I might share my grand plan as well if that's okay! I would love to buy a house where I am now, keep the flat in Scotland and overpay on it for 5 years. Then I would love to sell the place in Scotland and buy a house in Spain to either live or have as a holiday home.This is probably sounds like a mad plan, but it is in fact, a well thought out one! Of course I want to get rid of the debt first but if OH gets a job fairly quickly then we will make great headway with it!

PinkTwirl

Hi,

I can finally join in again now that I have just got a permanent job. Hooray!!! :j

clearmydebts

PinkTwirl wrote: »

Hi,

I can finally join in again now that I have just got a permanent job. Hooray!!! :j

Yay, congrats PinkTwirl!!!

doodledo_2

Afternoon everyone.

Pinktwirl - well done on getting a job :T

I am right with you all on the single wage thing. I am down to one now obviously and I still manage to clear the bills and some debt busting. Makes me wonder why the heck I didn't have the life of Riley when there was two wages coming in lol