Lunar has a house and lots of shiny new debt to get rid of!

hypno06

Yay, well done on another debt gone!

I'm with you - my last debt that I can overpay (apart from the 0% card) comes to an end next week (yippee) and from then I have to save for the big loans which can only be paid off in one go!

Have you got yourself a specific savings account open for the loan payments to go into?

lunar

I have a bonus saver with HSBC so we are dedicating that one for the loan pot. Are you going to keep reducing your debt total by the ammount you have saved? I think I will as otherwise I wont feel I am getting anywhere. I am so pleased you will be free from egg next week Hypno, it must feel like a huge milestone. How much is left on your big loan? We need to save almost £15000, I am not sure how it will work with interest as it is a 5 year fixed loan. I know it will be front loaded with interest but hopefully we will not be paying more back than 15000 in a lump sum!

hypno06

I have set up a standing order for the amount that I will save from the egg loan payment.....and will throw whatever else I can at it to get it saved up as quickly as I can (within reason!).

I have two loans that are "pay in full only" - one is about £10k, and the other is about £11k.......I am aiming for the 10k one first as it is 24.9% APR whereas the £11k is linked to my mortgage so is a far more reasonable rate of about 6%.

lunar

Our monthly payment on the loan is £308, I cant remember what the interest rate is. I know its under 10%, my mum took it out in her name as she could get a much better interest rate than me. It will be really good to be able to free up the loan payment every month.

hypno06

My barclayloan payment is £416 a month, and my Halifax one is £70.......so the barclayloan is a very motivating target for my debtbusting efforts!

lunar

You will have so much more freedom when you free up that £416 a month Hypno, I am not surprised you are so motivated to get rid of it.

Just did an online food shop from sainsburys as I had a £10 voucher, they have a brilliant option where you can just search through their basics range. my shopping bags will arrive tomorrow full of white and orange packets. I have my meal plan ready for the week ahead, hopefuly I will be good and stick to it.

savingholmes

hi lunar glad you are still sticking with it. The just search thro the basics range sounds good....

I am still job hunting sadly altho I hope that the final interview for a perm job will be this week. If I don't get it after that (5 stages) I will be so gutted!

penguin83

Hi Lunar, hope everyone is well. I shop at Sains and most of their basics range is pretty good - I had a £10 voucher the other week, it doesnt half make a difference!

Saving Holmes, good luck in your job interview xx

lunar

Good luck for the interview savingholmes, ill keep my fingers crossed for you this week.

Penguin, your totals and weight loss are looking good. I am sure you will be rid of the barclay loan in no time.

You are both right about the sainsburys basic range, I did my shopping on friday and the fresh food I have left is still fresh today. I have been doing some batch cooking over the weekend so my freezer is quite well stocked for the days when I am feeling lazy. The only things that I wont buy basics of are meat, fish and eggs.

I need to find some recipies for a huge amount of tomatoes and sweet peppers as I have loads ripening every day and I dont want them to go to waste. I also have 4 tubs of potatoes growing which Will hopefuly be ready for christmas.

lunar

On the money side of things, we have £1000 in a savings account and are trying to decide our priorities. We need to save a lump sum for the large loan, but our boiler really needs changing. It would probably last the year with no problems but is is very un-economical to run and I can imagin it will cost us a fortune to heat the house over the winter.

I guess we will have to keep saving and decide what we want to do in a couple of months time.

I really should sit and work out an accurate SOA now we have an idea of our monthly bills.