Too scared to work out what I owe

scottishspendaholic

Hi mozzie,

((((((HUGS!))))))

You are doing fantastically.

I can't wait to hear more info about how you are getting on

Lots of love

scottishspendaholic x

moozie_2

southernscouser wrote:

Sorry how long was the Sainsbury's loan for? OK I see it now! :rolleyes:

Based on you having made 24 payments I reckon you have £7,176 left!

I've got the Tesco one down as £6249.95 remaining! I'm pretty sure thats right but will look again tomorrow when I'm not so tired! That is based on you having made 7 payments!

Southernscouser I am really grateful for your help and I was wondering if you could take me through how you did it please. I am sorry, I don't mean to be a pain but I really need to understand how it is done. I will get better at this, I promise!

moozie_2

loubie_lou wrote:

SouthernScouser you are brilliant for helping Moozie! Moozie I bet you are so glad you had the talk with your fella aren't you?

Well if only more people could see you this thread and see IT CAN BE DONE!!!!

Well done girl! I suppose its way to early to tell but have you worked out your debt free date yet?

Hello loubie_lou, thanks for the lovely post! I'm afraid I haven't got that far yet. I am hoping southernscouser will kindly help me again work out how much I owe on my loans and then take it from there.

I will have a date though. No doubt about it. Things are becoming clearer by the day. Coming on here helps tremendously. Seeing that people I have never met care enough to post good advice, supportive messages or just a 'hello, you are not alone' is helping more than I could ever imagine.

moozie_2

Frugal_Fox wrote:

Hi Moozie,

I can only echo what Loubie Lou says. You are feeling really motivated at the moment. To keep that figure it is really important that you can 'see' the end of the tunnel and have a date in mind. In a few months from now, your debt will still be reducing - but you may feel that the end of the tunnel is a long way still. If you have your Debt Free Day - you can visualise it. I still have over £15,500 to clear - that seems a long way off, but using my DFD I know I will be free in April 2008 - only 27 months to go. This helps to keep me on track. Working out your debt free day is definately something to do!

Hello FrugalFox

Thanks for your very positive post. I find your attitude so inspirational, I can only hope I feel as confident as you one day.

I agree completely about the debt free date. As I posted to Loubie_Lou, I have not got there yet but I will. A few days ago, I was on the verge of total despair panic. I can't even believe myself how things have changed within me and within our household so far. The fact my OH now knows how I really feel about my money situation and he's supportive and positive means the world to me. I think that was as much of a weight on my mind as the amount I owe!

Anyway, I am rumbling, I am sorry. Watch out this space as I fully intend to post my date very soon

Thanks for your support and best wishes.

moozie_2

Verbatim wrote:

Just wanted to add my congratulations Moozie. What a fast turnaround.

I know I have a long long way to go but it's good to use the positive energy while it's flowing.

I have been taking one day at a time (even though Sunday now feels weeks away) and hopefully once I get my head around my current account, I will start making a real impact on the debt.

moozie_2

skintchick wrote:

MOOZIE!

:T :T :T

MOOZIE!

:T :T :T

MOOZIE!

:T :T :T

THAT'S SO GREAT!!!!!!!!!!!!

You are the new Ms_London!! :rotfl:

Keep going hon!!!

I am not sure I deserve those clapping hands but they gave me a very big smile, thank you!

scrystaltips

Good luck Moozie
we are all behind you

southernscouser

moozie wrote:

Southernscouser I am really grateful for your help and I was wondering if you could take me through how you did it please. I am sorry, I don't mean to be a pain but I really need to understand how it is done. I will get better at this, I promise!

No worries!

OK the Sainsburys one first!

You borrowed £14,352 over 42 months. Now without the interest payments this works out at £341.71 (£14,352 divided by the 42 months). So every month out of your £386.12 payment, £341.71 is off the amount you borrowed and the remaining £44.41 is interest.

Then all you do is multiply the number of months you have paid this off (24 months) by the £341.71 figure which equals £8,201.04. You then subtract this off the amount you borrowed (£14,352) = £6,150.96

Do the same for Tesco!

£7,500 divided by 42 months = £178.57
£178.57 multiplied by the number of months you have paid off (7) = £1,250

Minus the £1250 from the original amount of £7500 = £6,250!

Now I know the Tesco one is lower than what I said last night! I'll have to blame it on tiredness!

The best way to confirm this would be to phone both the companies and ask the for a settlement figure! It might include a month or 2's of interest but at least you'll know the rough figure!

moozie_2

You are an absolute inspiration!

Thank you for saying that but I really do feel far from an inspiration. I have so much to achieve and I would tend to put myself as an example to avoid: someone who earns a nice salary but has made all the wrong choices.

Your thread has been viewed 5175 times! Not only are you facing your own situation which takes guts, but your thread is helping all the others on here to follow your example.

I hope that is true. I do now believe that others are in similar situation to mine although only 4 days ago I would have found that impossible to believe. If this thread helps other people it is because of the wonderful contributions of so many of you that have so generously give me you time, advice, support and good wishes. I will always owe you for that.

I hope your husband is proud of your acheivements! have you shown him this thread? you should.

I took your advice on that and showed him this evening. I led him in the forum area and then the debt-free wannabe board and left him to look around. Almost immediately he saw 'moozie' and recognised it as his nickname for me He read everything and I think he was shocked to see how I have been feeling and also how supportive 'strangers' can be. Hearing him say he will help all he can to resolve our situation was just what I wanted to hear. Everything will be so much easier when we are open and supportive to each other

moozie_2

loubie_lou wrote:

Hey Moozie! You made Martin's tip of the week email! As Debt Free Chat of the week!

Well done!!

Iam guessing this is a good think but I don't know what it is. Thank you anyway