Mizmir's "Determined to be debt free by Christmas 2009" diary

mizmir

Have decided I am going to resurrect my lists on here as they really helped me keep focused. Daily to do lists that I can cross things off - and maybe some more longer term ones occasionally like in the previous post which will take longer.

So for today (including things already done to give me a boost! ):

• [strike]Check online banking[/strike] DONE! And found a couple of subscriptions that I think we can manage without so have cancelled - £20 a month better off as a result.
  
• [strike]Transfer emergency fund from ISA to Offset (on advise of FA - given our fixed interest rate on mortgage now much more beneficial)[/strike] DONE!
• [strike]Cancel ridiculously jumped up premium dog insurance for oldest dog [/strike] DONE!
• Begin fitness journal
• Work out new budget
• [strike]Set up internet account for OH's expenses credit card[/strike] DONE - currently standing at just over £500 but loads of expenses will be claimed at the end of this month.
  
• [STRIKE]Check all credit cards and update snowball[/STRIKE] DONE - brings my total to just over £19K debt including all the expense cards. Am lumping together so easier to manage and update. Should still be clearable in 2009. :T
  
• Wash clothes from trip One load down - two to go
  
• [STRIKE]Go for nice walk with dogs[/STRIKE] DONE - brrrh... was chilly. But all settled down in front of the fire now.
  
• Make mulled wine and dinner and settle down for evening in front of roaring fire....

See you all later...

hypno06

yummmmmmm mulled wine

Happy New Year, Miz!

mizmir

Decision time - do I add the expenses cards to the debt total or keep them separate as I have been doing?

Rationale for adding - they are at present technically debts - they are on the credit card - even though the money should be repaid by work.
Advantage of adding - just have one total to manage and will have some major hits on it when expenses come in.
Disadvantage of adding - my debt total will go up a couple of thousand pounds! :eek:

Think I am edging towards adding them. Will make me focus on ensuring the expenses are paid off them as soon as they come in to the account. Watch this space - and just as I made it under £16K - expect to see it leap up again....

mizmir

Well am not doing badly with my list. Moving on to the new budget now - then I will be almost there and feel happy to put my feet up for the evening!

• [strike]Check online banking[/strike] DONE! And found a couple of subscriptions that I think we can manage without so have cancelled - £20 a month better off as a result.
  
• [strike]Transfer emergency fund from ISA to Offset (on advise of FA - given our fixed interest rate on mortgage now much more beneficial)[/strike] DONE!
• [strike]Cancel ridiculously jumped up premium dog insurance for oldest dog [/strike]DONE!
• [STRIKE]Begin fitness journal[/STRIKE]Cheating a bit here but am going to do this while making dinner so striking through in preparation!
  
• [STRIKE]Work out new budget[/STRIKE] DONE - and am almost up to the £1620 I need to pay the debts off - without the expenses that will be coming back! Yoohoo - some slack in the budget!! :T
  
• [strike]Set up internet account for OH's expenses credit card[/strike] DONE - currently standing at just over £500 but loads of expenses will be claimed at the end of this month.
  
• [strike]Check all credit cards and update snowball[/strike] DONE - brings my total to just over £19K debt including all the expense cards. Am lumping together so easier to manage and update. Should still be clearable in 2009. :T
  
• [STRIKE]Wash clothes from trip[/STRIKE] Two loads down - one to go - think that counts as a strike through!
  
• [strike]Go for nice walk with dogs[/strike] DONE - brrrh... was chilly. But all settled down in front of the fire now.
  
• Make mulled wine and dinner and settle down for evening in front of roaring fire.... and on to this now....
  

mizmir

ps. decided to add all the totals together and just have one debt total - comes to just over £19K (though I feel a payment coming on to bring it down under....!). So I need £1620 a month to clear it by Christmas 2009 which is my goal. So next job is the budget - I need to have a really good sort out of it as a number of things have changed recently to see where that money is coming from!

hypno06

I agree that you should add them, because you are counting money that you pay off the expenses as debt repayment, so you should count it as debt in the first place, otherwise you will think you have paid off £20000 when you haven't reduced the total amount owing by that much, if you see what I mean!

mizmir

Think that's why I was getting confused - was paying huge amounts off credit cards but not reducing the debt much at all as most was paying off the other cards. And it messed up my challenges! This way it is £19K and everything counts to bring it down. Of course the downside is the total will fluctuate more as there will always be more expenses to add - but as long as the trend is down by the right amount then that is fine!

Karmacat

I wouldn't have counted it, but if its mixed up with the other debt, then you have to, you're right. Maybe a graph of the downward amount will help you see the downward trend? But you have to keep a really close eye on it to do that.

I'm so *envious* of a cosy night in. It *will* be cosy once I get to where I'm going, its No 2 and No 3 of my very oldest friends, plus their spouses, and its only in the next road, but I just don't want to go out! Ah well, later on I'd want to be with people, rather than on my own. You have a good evening with OH.

mizmir

Have fun karma - it will be worth it when you get there.

A graph may be the thing - will think about that - and I have put it all in the snowball so that I'll see that going down too.

boredofbeingathome

Happy New Year Miz ..like the piccie by the way. x