My debt free dream....

babyhead

Hello

I am a newbie to posting but have been reading the threads for a few months now.

I have decided, well we have (me and OH) that it is TIME WE GOT OUR MONEY SORTED. So having finally seen the light I thought I would keep a little diary on here to try to keep my debt free motivation going strong.

We currently have £36k in various debts. Credit cards, loans and family. Having set down and worked out a PLAN (I love the snowballer) we are going to throw £1k each month into dealing with our debts as a minimum amount. This is £400 over the minimum payment each month and should see us debt free in about 3 years (OH MY GOD...).

I have also committed myself to start ebaying all our useless stuff (and we have lots!) and selling on amazon. So with any profits made from this hopefully will make it less than 3 years....???

So here goes... DAY ONE....

Things to do -

1) set up standing order for family debt
2) make a list of items to ebay/amazon
3) actually try to sell items on 2)

dancingfairy

Congratulations - 3 years should go fast. It sounds like you have a plan already which is briliiant. You could also pop your SOA up for any fine tuning and your plan in case anyone can see any shortcuts for you at all.
Have you looked at doing a credit card shuffle at all?
Good Luck
df

djdymond

wishing you all the luck in the world!! have you got anything you can aim for at the very end? a big holiday or something? something to keep you going? xxx

schoolrunmum

Any idea where I can find the snowballer??

Dinah93

Best of luck to you in getting debt free. I am currently doing the same thing of ebaying/amazon-ing everything that isn't nailed down. Because I can comfortably meet my minimum repayments every month I am writing all my ebay adverts on turbolister but not posting them until the fee free or 5p listing days come up in the hope that this will save a few more pennies. My mantra is now 'Every little helps!'

Dinah x

firesidemaid

schoolrunmum wrote: »

Any idea where I can find the snowballer??

www.whatsthecost.co.uk

babyhead

perhaps a bit of background might help....

to cut a long story short we are living with the folks. our SOA is therefore relatively straight forward. We had to sell our house on health grounds (i am such a pain in the bottom!) and lost a HUGE amount of money on it as and it took nearly 18 months to sell.

income 2317

outgoings

rent 300
phones 70 (2 phones)
landline 30 (need for work)
childcare 420
nhs cert 10.25
dental ins 34.56
car ins 34.57
fuel 120

which should leave around 280 a month for luxuries/going out etc. Which we think is not too bad.

i don't think I cut back on my outgoings any more then I have done - BUT I may be wrong....???

Anyway sleep I think ......

babyhead

Things to do in near future (can't say today seeing as though it is nearly 2pm already)...

1) set up standing order for family debt
2) create sig
3) make list of items to sell
4) start listing items
5) sort November payments and update snowballer...

babyhead

Ah... a good day :j

Have managed to do some of the list! Have sorted the standing order to go out and signature to make me THINK everytime I come on here!

Sorting out some stuff tomorrow with OH. Think he is on board - he definately sees the benefits but I think I may have to keep my eye on him for slips!!

Hopefully can start doing some selling over the weekend. Had good news as well that I can go back to work eventually <phew> so that is one less thing to worry about (off sick at present due to illness) and I am generally pleased as little boy is feeling better too.

night night

me xxx

babyhead

Well a good day :O)

Have managed to reduce by £1200 so far this month... woop woop!
Have started to sort out items to sell on ebay. Sorted out all the cds etc as well. It feels so ace to be finally in control of the money and it is already coming down without really doing alot - just managing it better.

Hope the progress rolls on.... we'll see

tala me xxx

brummiebabe

Best of luck babyhead - you seem to have it sorted!!