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Marathons, Money and Motivation
Comments
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Thanks SH.....
If it all had sunk in yet exactly what was happening in my life right now then im sure i wouldnt be able to get out of bed, but most of it hasnt yet.... so im just a bit out of it...
But then you think, Ive lost my grandad, a baby, my job, dh's job, got xx amount of debt, and struggling to work out what we're going to do come the end of the month, thats a pretty cr&p year really.....Wealth is not measured by currency0 -
It is a pretty crap year... we've had a few of them too....
I know mse is about money.... but you have to make sure you don't put too much pressure on yourself. You may in reality have to get in more debt for a bit if you are £700 short a month - make sure you do it the right way that doesn't wreck your credit rating...Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
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 £5K updated 10/10/250 -
i dont think there is any way of us doing anything.... we've got no more credit, everything is maxed and our credit rating is up the wall!Wealth is not measured by currency0
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perhaps you need a dmp for a bit then... You have done really well to clear over £7.5K since October so don't beat yourself up.....Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
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 £5K updated 10/10/250 -
no we've paid 7.5k........ doesnt mean it has been reduced.....Wealth is not measured by currency0
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at least with a dmp you would probably get your interest frozen...Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
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 £5K updated 10/10/250 -
i know.... how do you go about a dmp?Wealth is not measured by currency0
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Hi CAFCgirl - I am not on one... but RAS or GeorgeUK may be able to help. You could send them or CCCS_Sarah a pm....
From what I've seen on here you can do CCCS debt remedy online and they will give you some guidance on whether you need a dmp or what. You can also ring them and set up an appointment to speak to them in depth it can take a few weeks tho. Payplan do something similar but CCCS has a better reputation. If you do a dmp via them they are free debt charities and the whole of your payment goes to your creditors. Never use a fee charging company...
You can manage your own dmp..... which gives you more control over your payments but you are likely to get more harassing calls.... GeorgeUK and others can give you letters (online) to stop any harassing calls....
I know it sounds scary right now and hopefully your OH will get a job quickly and you will be able to pay off everything more quickly again... but it is better to look into your options now before you default....
It may be worth giving CCCS and National Debtline a call for some advice. There is also a thread on the DFW board titled ask CCCS a question.....Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
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 £5K updated 10/10/250 -
ooooooooooooooooooooooooooooooooh its just painful....Wealth is not measured by currency0
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yes it really is.ooooooooooooooooooooooooooooooooh its just painful....
But better you grasp the nettle now... It is only temporary - your OH will get another job it is just a matter of time....
Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
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 £5K updated 10/10/250
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