The Secret DFW/Saving for a house Diary of Eamd Aged 14¾

embarrassed_about_my_debt

Hi R2RWB,

It is only a 3 month warranty and then Batteries dont tend to be covered (warranty is from a company rather than the seller)

Want to try and save about £7.5k and hopefully gf can manage the same so that would be £15k also there is a possibility that we might get some money from parents.

Stamp duty, we will just need to wait and see when we can afford to buy as to what impact it will have as it will change after 2nd September 09.

Just a case of trying to save as much as possible and cut back where i can!

embarrassed_about_my_debt

Morning all!

Another pay day so update time!

Update on savings, thought i'd add the other "pots" to the list -

Deposit Savings - £475.00 - Squares 9/150
Other Savings - £297.50 - Squares 5/50
Car Fund - £87.50
Presents - £37.50
Haircuts - £7.50
Clothes - £5

Valentines Day is going to consist of a takeaway as we had booked a restaurant but when they sent out the menu it wasnt particularly nice, especially for the price they were charging. Gf said she would rather save the money towards the house and cuddle up with a take away and bottle of wine. She is also the only woman i know that prefers a single red rose to a bunch!

Time for a :coffee:and updating the signature!

The_Dragon

embarrassed_about_my_debt wrote: »

Morning all!

Another pay day so update time!

Update on savings, thought i'd add the other "pots" to the list -

Deposit Savings - £475.00 - Squares 9/150
Other Savings - £297.50 - Squares 5/50
Car Fund - £87.50
Presents - £37.50
Haircuts - £7.50
Clothes - £5

Valentines Day is going to consist of a takeaway as we had booked a restaurant but when they sent out the menu it wasnt particularly nice, especially for the price they were charging. Gf said she would rather save the money towards the house and cuddle up with a take away and bottle of wine. She is also the only woman i know that prefers a single red rose to a bunch!

Time for a :coffee:and updating the signature!

It sounds as though plans are going well - and good on your gf for deciding that a takeaway and a decent dvd/wine is a much better option (that is what Dr Dragon and I are doing as well - minus the take away Dr Dragon is cooking :rotfl:).

I'll take a :coffee: if there is one going?

embarrassed_about_my_debt

Cheers Dragon, one :coffee:

Yea things arent going too bad at the minute, although the car is due a service soon so that will see my funds take a bit of a battering!

Once i have get my bday money the tv will be paid in full (already have half sitting in a bank account)

Need to start selling old car parts to help boost the "other savings" as want to get this up as quickly as possible!

ragstoricheswannabe

me and my fella are doing exactly the same (he is supposed to be cooking but that usually ends up as a take away!!) i can think of nothing better than cuddling up on the sofa............

yay on the savings too..........

embarrassed_about_my_debt

Blast from the past here! Its been just over a year since I last posted and SO much has happened!

I saved hard, got a house with my girlfriend, we got engaged and are now saving for a wedding!

My Credit Card is still clear! If it ever gets used then its cleared in under a month so no interest!

The house we got in August but took till October to decorate. I then proposed to my gf and she said yes so have set a date for summer next year!

Things havent been easy has had to tighten my belt to save for everything but im in such a better position than I was 2 years ago when I started on my path to getting debt free! Im still going as I still have my loan ticking away in the background.

I hope everyone is well, would be great to hear from you all again and hear where you are with your DFW Journey!

Better update my signature!

embarrassed_about_my_debt

Hi All,

Blast from the past here!

Been a while since I posted on here but need to keep an eye on things as been so busy I have taken my eye off the ball.

Last time I was here this is how things looked

Debt Now ~ Loan £10685.58
Debt@01/01/09 (New Car & The C word ) ~ £14,341.00
Debt@1/12/08 ~ £6940.72
Debt at LBM Oct 07 ~ £15,553.15

Things as they stand now (SOA)

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2

Monthly Income Details
Monthly income after tax................ 1740
Partners monthly income after tax....... 1740
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 3480

Monthly Expense Details
Mortgage................................ 923
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 112
Electricity............................. 40
Gas..................................... 0
Oil..................................... 70
Water rates............................. 58
Telephone (land line)................... 10
Mobile phone............................ 26
TV Licence.............................. 12
Satellite/Cable TV...................... 34
Internet Services....................... 16
Groceries etc. ......................... 250
Clothing................................ 50
Petrol/diesel........................... 320
Road tax................................ 42
Car Insurance........................... 96
Car maintenance (including MOT)......... 85
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 43
Buildings insurance..................... 13
Contents insurance...................... 12
Life assurance ......................... 36
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 0
Entertainment........................... 400
Holiday................................. 0
Emergency fund.......................... 250
Dog expenses - (food & training classes) 67
Total monthly expenses.................. 3015


Assets
Cash.................................... 1438
House value (Gross)..................... 180000
Shares and bonds........................ 0
Car(s).................................. 2
Other assets............................ 2500
Total Assets............................ 183940


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 145000...(923)......6.49
Total secured & HP debts...... 145000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Loan...........................12389.....243.......6.4
Credit Card....................1550......17........0
Sofa...........................1649......75........0
Total unsecured debts..........15588.....335.......-


Monthly Budget Summary
Total monthly income.................... 3,480
Expenses (including HP & secured debts). 3,015
Available for debt repayments........... 465
Monthly UNsecured debt repayments....... 335
Amount left after debt repayments....... 130

Personal Balance Sheet Summary
Total assets (things you own)........... 183,940
Total HP & Secured debt................. -145,000
Total Unsecured debt.................... -15,588
Net Assets.............................. 23,352

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

So while I know I am in a fortunate situation I want to get my debt cleared as it bugs the heel out of me that I am now a 5 years down the line and more in debt than I was at my LBM :eek: I got a house, got married, had a couple of weddings to go to that cost a fortune so as it stands I have

Credit Card: £1,550
Sofa: £1,648.77
Loan: £12,389.43
Total: £ 15,588.20

The plan is to clear the credit card before Christmas, then clear the sofa. Which will let me chuck everything I can at the loan. The loan includes all interest and can be overpaid whenever I have spare money.

Any suggestions for my SOA are gratefully received.

Time to update my signature with the shame

embarrassed_about_my_debt

First mistake

Didn't realise a couple of things hadn't cleared onto my credit card so the actual total is £1636.40

Best amend my figures!

embarrassed_about_my_debt

Well time to update my figures as made some payments today!

New totals

Credit Card - £1,350.00
Sofa - £1,573.83
Loan - £12,389.43
Total - £15,313.26

I'm hoping to have the credit card paid off by the end of January and then start working on the sofa to clear that hopefully by the end of April. Then it will be saving towards paying off the loan early which I can make overpayments to without any penalties. The minimum will be the sofa amount £75 per month. which should make a reasonable dent into when it is finished paying back and then will try and throw lump sums at it aswell.

Time for a :coffee: and signature update!