Hypno's approach to life, the universe and debtbusting.....

ShelleyC_2

Its scary how much some areas cost :eek:

shaun40400

ShelleyC wrote: »

Its scary how much some areas cost :eek:

no!! what's scary,,,is you two planning to kidnap a family and dump them in the woods or lake:eek::eek::rotfl:

urg123

I know - OH and I are tied to this area. All our family are around here and the jobs etc are here. I do love living in london but it does cost alot! I love my current flat but it is no place to bring up a family. I want a house... with a big garden. It is doable but we have to work hard and save lots. We need to decide if we want to save a new deposit and keep this flat (which would bring in good money in rent) or sell up and use the money from the sale as a deposit. So many decisions!

ShelleyC_2

shaun40400 wrote: »

no!! what's scary,,,is you two planning to kidnap a family and dump them in the woods or lake:eek::eek::rotfl:

Its two families :rotfl:

Hypno may agree to let some of the kids stay in her many rooms for a fee?

hypno06

shaun40400 wrote: »

no!! what's scary,,,is you two planning to kidnap a family and dump them in the woods or lake:eek::eek::rotfl:

Needs must and all that

Nargleblast

shaun40400 wrote: »

no!! what's scary,,,is you two planning to kidnap a family and dump them in the woods or lake:eek::eek::rotfl:

Amazing the effect that being in debt has on some people.....:D

Nargleblast

Do you realise that my previous post is number 666? Cue scary music!

savingholmes

you do realise those are real houses with real families... imagine if they were reading... tracked you down.....

Not that I am paranoid at all!

hypno06

If they are reading this, SH, that would be a GOOD sign...... It would mean that they are almost certainly in debt.......possibly in arrears......about to be repossessed or have a charging order called in......so DESPERATE to sell at rock bottom prices, especially to a fellow DFW'er :rotfl:

Kidnapping need not be necessary after all :think:

hypno06

Right, motivaton needed, to get me through this "lower income" slump that I am in.......and to keep the focus on paying some of these bigger "can't overpay so got to save up" debts such as the horrid barclayloan with its horrid rate of interest......so that one day, when Shelley posts up a link to a fab house, I can actually go and view it......for real, not just for nosiness or for dreams.......:rolleyes:

So, bear with me on this one......

I have a barclayloan that I can't over pay on, but I can pay off early. It is 24.9% APR so it does make a huge amount of sense to pay it off as soon as possible.

I have one of my pots of online money as a debt pot - into that I put all my odds and ends of MSE work - so for example today I transferred into it the £4.50 casino money I got earlier in the week that arrived in my current account today.

The debt pot has previously been used to pay extra off the egg loans etc when possible - so for the egg loan, where they can't seem to work out how to credit an account in the last two weeks of the month, if I get money in from MSE in the latter part of the month, it sits in the debt pot until 1st month when it gets transferred to Egg, where they sometimes manage then not to lose it :rolleyes:

But, Egg is now expected to finish in a couple of weeks (cue much cheering and whooping, but tinged with an element of disbelief until they actually show a zero balance......just because you know what egg are like.....), so I have to start thinking properly about how to tackle the two bigger loans that can't be overpaid but can be paid early.

So.....

I have renamed the debt pot "Barclayloan Offset". So all money in there, is now allocated to the Barclayloan and cannot be used for anything else.

To make this more motivating, I have actually entered in the amount paid into the "offset" on the snowball calculator against the barclayloan itself, just as if I had made an actual overpayment to barclays.

Whilst this is not exactly true, and will distort the interest figures a bit, I am not to worried about it. What it is doing, is showing the reduced amount that I would have to find to clear the barclayloan.....

So rather than seeing the barclayloan figures come down slowly, once a month when the standard monthly loan payment is made, and at the same time see a growing balance in a savings account, I can now see them come down as and when - so for example, today I "paid off" £4.50 that I received from the casino. And for me, a reducing debt figure is the most motivating of all.....

Interest excepted, the end result is the same -I am going to have the money to pay it off early, it is just in the "offset" rather than actually credited against the loan itself.

Hope that makes sense! And hope it works :rotfl: