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12 months on - this look a lot better!
takeachillpill
Posts: 39 Forumite
Well, just thought I would share with you how myself and my wife haven managed to turn things around this year.
12 months ago, I was taking home 920 pcm, she was taking home 870 pcm.
From January, I will be taking home 1200 and she will be on around 1090.
In terms of outgoings, we have rejigged just about everything.
Then:
Mortgage: 475
Secured loan: 365
Car loan: 135
Credit card (minimum payment): 175
Sofa payment: 45
Total: 1195
Now
Mortgage: 655
Loan: 92
Credit card (minumum payment) 95
Total: 842
So - better off to the tune of 353 per month in outgoings and better off to the tune of 500 per month.
So that's 853 per month to throw at debts which means the credit card will be paid off by August which is when the 0 per cent runs out!!!!
:j :j :j
12 months ago, I was taking home 920 pcm, she was taking home 870 pcm.
From January, I will be taking home 1200 and she will be on around 1090.
In terms of outgoings, we have rejigged just about everything.
Then:
Mortgage: 475
Secured loan: 365
Car loan: 135
Credit card (minimum payment): 175
Sofa payment: 45
Total: 1195
Now
Mortgage: 655
Loan: 92
Credit card (minumum payment) 95
Total: 842
So - better off to the tune of 353 per month in outgoings and better off to the tune of 500 per month.
So that's 853 per month to throw at debts which means the credit card will be paid off by August which is when the 0 per cent runs out!!!!
:j :j :j
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Comments
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Well Done! Sounds really good, just think of the extra money you will have for yourselves after August!
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then we start to tackle the mortgage!0
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Just wondering.....does the fact that your mortgage payment has increased mean that you put your debt onto your mortgage?Owned by [STRIKE]4[/STRIKE] 4 cats: 2 x Maine coon cross males, 1 x Pixie Bob male and[STRIKE] 2[/STRIKE] 1 x Norwegian Forest male....cute!
R.I.P Darling Jackson 11/7/09 - 15/1/10
Miss u sweetie...
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Well done :j :beer: :j :beer:2008 Comping ChallengeWon so far - £3010 Needed - £230Debt free since Oct 20040
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Congratulations takeachillpill :T
My other half and i had our lightbulb moment this month _pale_ , and are currently trying to get our head around the figures. Reading this helps to know that there is hope.
Thank-you!What's he building in there???
Debt at highest £30,450 (Dec 05)
Debt at lowest £9, 113 (Jul 07)
How much did we over spend whilst on maternity leave :mad:0 -
congrats chillpill keep up the good work!November NSD's - 70
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petal - yeah, we combined the two and will move the mortgage once I have a payment record of around six months.
Loan was with EPF which is owned by HSBC and by moving everything to them, they waivered nearly £2k in charges. It will cost me around £300 compared to better deals elsewhere (not the best product out there) but that will still be a £1700 saving!!
However, there were no fees and there are no early settlement fees, so when I move that will be another 50-60 per month!
Woohoo!0 -
That's fab!!! Hope it continues to go this way Debt /Overdraft/Everything Free December 2007 :j0
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