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

Karmacat

Double_Trouble wrote: »

Karma been on to your old diary to try and answer my own question about why you have not been to French property but note that you already have it pre diary. Very interesting though I am on page 11 and you have just started MB which I am planning on starting on my return from hols

But it has made me realise you have not posted on your short term challenge diary either so it is hard to keep up with you as you keep popping up everywhere not complaining mind but do u think u could post on your thread too as I get easily confused and us mature ladies need to
support each other :rotfl:

DTxx

taxi73 wrote: »

I'd be interested as well to know why Karma hadn't even been to her french place.

oops.... busted.... about 8 years ago, I realised that I too was subject to the ageing process, and I needed to retire one day. And I had lots of savings and lots of cash sitting there that I didn't know what to do with. What I decided to do was buy a safe, trouble free little investment property I could easily afford [insert hollow laugh here] and then go into the stock market and up the value of my investments.

I simply didn't cost the French property properly, and I thought even a studio flat locally to me was out of my reach - it wasn't at all, but thats what I thought. And I looked at the hassle of renting a property out, and decided it wasn't for me.

Classic tale - I didn't understand what I was getting into. And I never went to see it because I didn't care about it - it was an investment property run by a management agency, that I thought would finance itself once I'd put down the deposit I did. And when I was buying it, it was a hole in the ground, it was off plan.

Diaries ... well, I finished my original diary for the reasons that are there at the end ... the short term challenge, I was struggling so hard with the bathroom, and what probably finished it is getting the virus before I got the swine flu.

Maybe I need to start another proper diary .... its quite humbling that you'd go back and read the old one .... that happens to Hypno, but not me! So, thank you - and us mature ladies will definitely continue to support one another, wherever we are.

shaun40400

morning hypno....you always make perfect sense
basically you are making virtual payments to see the figures on screen,,
whilst saving the real money for the big pay off day,,

Karmacat

I'm so glad you're going to tackle the barclayloan - that rate of interest was making me itchy! Seems to make sense - you're treating the debt pot as an overpayment account, and taking that pot into account when you look at the reducing debt figure? You've just got to be really careful not to borrow from it, I guess...... not skiing, not anything!

hypno06

Karmacat wrote: »

You've just got to be really careful not to borrow from it, I guess...... not skiing, not anything!

That's why I have renamed it "barclayloan offset" so it has a specific purpose rather than a general "its there for debt really, but I could spend it on something else" purpose.

And that's why I am actually reducing the barclayloan balance on the snowball each time I pay into the "offset" - because it would be mortifying to have to go and "up" that barclayloan balance if I had spent the money!

That said, of course, if the boiler blows up or a real emergency happens, the money can double up as real emergency savings, but it certainly isn't there for skiing - that has a pot all of its very own

I don't really know how else I can do it - if anyone has any ideas, please please let me know! I need them to be easy to pay money in, and not easy to spend it on anything else!

hypno06

Oh, and my signature reflects the amount owing as if I had actually paid the money off the loan, rather than into the offset - again, I have no desire to have to amend the signature to a higher figure, so hopefully this will help keep me focused as the numbers move in the right direction!

Karmacat

Excellent!

hypno06 wrote: »

I need them to be easy to pay money in, and not easy to spend it on anything else!

It does occur to me that you could use an online ISA in that way, rather than the ordinary debt pot?

shaun40400

not being up to date with uk banking
is the account your saving into paying interest,,,,

hypno06

I've got an online isa - but as it is still "instant access"........yes, you've guessed it, I accessed it instantly! And as a result I have a whole 79p in it :rotfl:

I can't have anything that is a "fixed term" because I hope that it will have enough in it to clear the barclayloan within a few months.

I will stick with today's plan, but will let you know if I feel a wavering of willpower coming on, so you can all shout at me!!

hypno06

shaun40400 wrote: »

not being up to date with uk banking
is the account your saving into paying interest,,,,

Only a little. Perhaps I should investigate my ING accounts that I only opened to get a "refer a friend" bonus, and see if I can do something there instead........I have lost my login and have no idea of my account number though, so it may take me some time!

Karmacat

You *know* what you want to do ... as Mrs Wotsit said in Father Ted, "gwan. gwan-gwan-gwan."