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Paiges turbulent year
Paige
Posts: 266 Forumite
I have lurked here for 2 years now - not often posting but reading all the tips and advice. My OH and I have had a good year with clearing our debts.
We have finished paying for a £15 k car loan and have only £1k to pay off our other car loan which was for £12k. We have paid off a £12k business loan. a 3k overdraft and approx £6k off our credit cards. We have also paid all our bills and I have managed to avoid paying any bank charges ( we were really bad at these before our LBM) We so far have managed to not get into any further debt over christmas. Thats the positive news.
We still have £19k worth of credit card debts - all on 0% at the moment. One of our clients went into receivership owing us £12k in October. I just cant help feeling sick at this. We would have almost cleared our debts with that money.:mad:
I just cant seem to get past this. I am just so exhausted with money saving, with working all the extra hours we can, and with ebaying and car booting , I have now lost all motivation and feel like going out and splashing out. As we are both self employed work looks thin on the ground for next year and now I feel in panic mode in case we dont have enough money next year and start running up the debt again. Thats the negetive news.
Sorry for ranting but feeling a bit frantic:eek:
Paige X
We have finished paying for a £15 k car loan and have only £1k to pay off our other car loan which was for £12k. We have paid off a £12k business loan. a 3k overdraft and approx £6k off our credit cards. We have also paid all our bills and I have managed to avoid paying any bank charges ( we were really bad at these before our LBM) We so far have managed to not get into any further debt over christmas. Thats the positive news.
We still have £19k worth of credit card debts - all on 0% at the moment. One of our clients went into receivership owing us £12k in October. I just cant help feeling sick at this. We would have almost cleared our debts with that money.:mad:
I just cant seem to get past this. I am just so exhausted with money saving, with working all the extra hours we can, and with ebaying and car booting , I have now lost all motivation and feel like going out and splashing out. As we are both self employed work looks thin on the ground for next year and now I feel in panic mode in case we dont have enough money next year and start running up the debt again. Thats the negetive news.
Sorry for ranting but feeling a bit frantic:eek:
Paige X
0
Comments
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Hi Paige :j
Well done on the debt busting so far you have cleared so much. You and your OH should be dead chuffed with that. You may be having a tough time now but be proud of what you have done and how harder it would be now if you hadn't cleared those.Proud to be dealing with my debts - DFW No: 712
03/09/09 - DEBT FREE AT LAST
Racing Hypno to Save - £10/£50000 -
Paige - you've done so well! I would be mad too about being owed £12K after all your efforts and not being able to do anything about it... Just keeping putting one foot in front of the other until it is all done! It's amazing how much you've achieved - don't give in now!Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £169.8K Equity 37.1%
2) £2.4K Net savings after CCs March 26 (but owed £1.1K) so £3.5K
3) Mortgage neutral by 06/30 (AVC £36.2K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 42.1£127.5K target 33% 27/2/26 (If took bigger lump sum = 64K or 50.1%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5.2K updated 16/1/260
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