Flying gleefully into 2009 - One Fresians adventures in debt-busting

mooomin

Quick list from me then I need to run into the shower and get myself ready for the last day of my training course - if I get into town early I can go to the amazing sandwich shop and get a sausage butty. Om nom nom...

• [strike]Check online banking[/strike]
• [strike]Make PAD[/strike]
• Make yummy quick dinner
• Don't fall asleep at six o clock again
• Washing
• Dishes
• Make plans for weekend

It's Friday!!!

mooomin

Good morning all!

I have been somewhat missing in action recently, because I haven't had a lot of debt-busting news, just been slogging away.

But....I'm baaaaaacccckkkk!! :rotfl:

I get paid tomorrow (Well, the money is in my account today but I'm ignoring it!) so I thought I should do my maths again to see the progress that I have made.

According to my spreadsheet, since I last got paid I have made payments of £235.37 to my overdraft and £140 to my Barclaycard which is a PAD total of £375.37.

New Balances

Overdraft - £209 (With £25 in the Overdraft Begone Account too)

Barclaycard - £775

I have been working on the overdraft account for a while and can really see the difference in what I have been doing, as it's now relatively small. I would really like to clear this off this month - by the time payday comes in March I would like to be in credit and have also paid off some more of my Barclaycard, ideally having it under £650. So, if I challenge myself to do that, I will have to find £334 to pay off the overdraft completely and also to get the Barclaycard down to £650.

I do have a Council Tax free month again (Yay!) but I also need to take some of the money from my wages and put them towards the Birthday Piggy for t'other halfs birthday as well as pay off some things I bought last month on my credit card. I will have to do some budgeteering and see how I will get on :rotfl:

I know that I have budgeted £320 for the mortgage but it is about £70 less due to all the changes in the base rate, so I can send that off to the Barclaycard and get it off to a flying start There will be ways and means.

Right, I'm going to have one more cup of coffee then get ready for my Sunday.

Have a lovely day all!

Raychee

What fantastic totals! :T

You're doing really well F-F - keep it up!

mooomin

flying_fresian wrote: »

Boo hiss, here come the debts

Barclaycard - started at £1131.90

Overdraft - at its worst £1007

Personal Loan - was £6973.73

The above is from the 1st of January when I started this new shiny thread, which means that I have cleared the following since my LBM:

Barclaycard - £354.90 cleared

Overdraft - £798 cleared

Loan - £140.80 cleared (Now sitting at £6832.93)

So, my total amount of debt cleared since 28th November 2008 is......*drumroll*

£1293.70! Crivvens, that's more than I get paid in a month. Go me!!!

Raychee

Yay!

Go F-F!

[Deleted User]

Well done FF,:j
Keep this up and you'll be debt free in no time!!

Silaqui

Wow well done FF! You must be really chuffed with that. You'll be overdraft and CC free in 2 months MAX, then you'll be able to concentrate on the loan, thats brilliant.
What are you planning to do to pay it off? I've got my personal loan which I am saving till all the other debts are paid, just paying the normal monthly payments on it being as it's budgeted for. I've looked at the T&C's and it says overpayments of up to £100 a month are allowed, not sure whether to do this to pay it off quicker or just keep paying the normal and save the rest.

Hope you are looking forward to LOST tonight, I have been dying for it to be sunday all week lol
xx

mooomin

Silaqui wrote: »

Hope you are looking forward to LOST tonight, I have been dying for it to be sunday all week lol
xx

Highlight me to read *spoilers*

OMG I can't believe that the pilot of the Guam plane is Frank!!! Lost always keeps me guessing :rotfl:

mooomin

Silaqui wrote: »

You'll be overdraft and CC free in 2 months MAX, then you'll be able to concentrate on the loan, thats brilliant.

What are you planning to do to pay it off? I've got my personal loan which I am saving till all the other debts are paid, just paying the normal monthly payments on it being as it's budgeted for. I've looked at the T&C's and it says overpayments of up to £100 a month are allowed, not sure whether to do this to pay it off quicker or just keep paying the normal and save the rest.

I am still crossing my fingers that I will get my annual bonus at the end of March. All of these people banging on about bank staff getting bonuses forget that for every £100k+ [strike]*anker[/strike] City Banker, there are thousands of us who make peanuts and for whom a bonus makes a huge difference. I don't even work in a department where we sell to customers so my bonus is performance based for me.

/rant

If I get my bonus, I will be able to get the Barclaycard right down while still doing some nice things (Haircut, new specs etc, nothing too exciting!) so it could all be looking a lot rosier within the month! If not, I will be gutted, but not a lot to be done I suppose. I should be able to pay a good chunk off my debts tomorrow when I "officially" get paid anyway.

My plan for the loan is unsure - as I am in financial services my job is automatically looking dodgy. I don't know if I will still be in the same job at the end of the year. I gain nothing by paying additional payments to the loan as the interest has been calculated at the start of the term and is applied monthly as per the original calculation. My thinking is that I will continue to make PADs into a savings account and hopefully clear the loan in 18 months. If the worst happens and I am made redundant, I will have these savings to fall back on and will just have to put paying the loan back on hold. Does that make sense? Once I have enough saved to pay the loan off early I will probably still wait a few months so I have some savings and the loan paid off in case anything happens.

On a non-money related matter, does anyone have any idea what is happening in Lost at the moment????? Good grief...

Fag_ash_lil

edited .....

flying_fresian wrote: »

My plan for the loan is unsure - as I am in financial services my job is automatically looking dodgy. I don't know if I will still be in the same job at the end of the year. I gain nothing by paying additional payments to the loan as the interest has been calculated at the start of the term and is applied monthly as per the original calculation. My thinking is that I will continue to make PADs into a savings account and hopefully clear the loan in 18 months. If the worst happens and I am made redundant, I will have these savings to fall back on and will just have to put paying the loan back on hold. Does that make sense? Once I have enough saved to pay the loan off early I will probably still wait a few months so I have some savings and the loan paid off in case anything happens.

I agree with you ....... i think that's a good idea ........ It does make sense to build up your " savings " ........

£1293.70 is a FANTASTIC amount to have cleared since 28th Nov ..... You should be really proud of all that you have achieved in the last few months .... Keep up the good work as you are doing really great ! ....

terri x