Diary of a Bride to Be: £18,000 in 12 months

Optomistic_2

Hi guys

Thought this would be an excellent place to monitor our progress. DP and I are engaged and have decided to set a date in 2011 to give us time (hopefully)to clear off our £18,000 of debt and save for our wedding. Therefore, we are aiming to clear £18,000 in 12 months :eek:. Sounds absolutely ridiculous money but we are determined to get ourelves in a better position financially before we start our married live. There is no reason for us to be in this position we both have very good jobs with a small mortgage but we pay a lot in investments (for the future) which means we don't have as much to pay off debts. We need to start living for today a little more (ironically this mentality probably got us in the debt).

So as of 1st July 2009 our debt stands at £18,459. This means we need to pay £1528.25 each month to clear off the debt by next year. We are intending to overpay debts at £600 per month on top of our mthly payments.

I'm hoping to Ebay- we have so much unwanted stuff so I am going to get on with this and aim to make £200 per month to help towards the £600. I'm also going to start making small changes and reduce our bills expenses etc.

So.... here's to day 1!

Sx

wendz86

Good luck! Will be hard but you sound like you are serious about it, so I am sure you will do it.

Optomistic_2

Thanks Wendz. At least the thought of our wedding will be an incentive!

Sx

missymoo81

good luck hun, I will be watching with interest, I too am in a similar position, but am getting married next year and need to save up for the wedding and pay off debts all at the same time!!!

So I shall be watching for tips and motivation!

I'm sure you'll do wonderfully.

Keep smiling

MissyMoo

yukkibear

Hi good luck with your journey. I am too trying to pay my debt off as quickly as poss to save for a wedding that has already been pushed back.

I'll be reading with interest.

Lemon_Tree

hi and welcome to the boards, good luck with your challenge. I have to admit when i read your title my immediate reaction was that you didn't need to spend £18k on a wedding but now i've read what you're planning my hat is off to you. I got married last year and found the weddings sub board very useful, but although we paid for everything with cash i was only able to clear basically the minimum's from my debt but at least we didn't add to them. Now i'm tackling them with vengence and i've managed to pull forward my debt free date.

Fire_Fox

Have you completed a Statement of Affairs yet? Most of us find it really valuable in working out where the money really goes and what our priorities are aside from debt-busting!