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

milann

It's hard when 'family stuff' can't be the family you want and need anymore, Hypno - I know where you are coming from with that. Sending good vibes over the puter to you. Coffee and choccies should be the order of the day too.

Cake finished and looking better than I expected - just waiting for it to be picked up now.

Milann

hypno06

I am bothered.......

I know I have the high debt as a priority......but I have been more and more bothered by the fact that we have our mortgage on interest only - and it has been so for six years.

In that six years, I have paid over £50,000 in interest, and not a penny off the capital :eek: and it bothers me.

I *know* that it takes its place in the bigger scheme of things, with an interest rate that is far lower than, say, barclayloan......but I really do need to start thinking about it, because I don't want to shift one lot of debt worry to another.....

So, to keep my bother-demons at bay, I have set up a standing order to the mortgage - only £25 a month for the moment, with a whole £10 coming out tomorrow......but it is a small step that says "I'm not ignoring it" and that will hopefully stop the niggling feeling that I have about it from getting any bigger.

All in all, it is reducing debt of one sort or another......so has to be an alright thing to do, I guess.....I am still attacking the barclayloan as my next target so nothing changes there. I am just acknowledging the rest of it too rather than leaving it on the back burner completely.

Double_Trouble

hypno06 wrote: »

I am bothered.......

I know I have the high debt as a priority......but I have been more and more bothered by the fact that we have our mortgage on interest only - and it has been so for six years.

In that six years, I have paid over £50,000 in interest, and not a penny off the capital :eek: and it bothers me.

I *know* that it takes its place in the bigger scheme of things, with an interest rate that is far lower than, say, barclayloan......but I really do need to start thinking about it, because I don't want to shift one lot of debt worry to another.....

So, to keep my bother-demons at bay, I have set up a standing order to the mortgage - only £25 a month for the moment, with a whole £10 coming out tomorrow......but it is a small step that says "I'm not ignoring it" and that will hopefully stop the niggling feeling that I have about it from getting any bigger.

All in all, it is reducing debt of one sort or another......so has to be an alright thing to do, I guess.....I am still attacking the barclayloan as my next target so nothing changes there. I am just acknowledging the rest of it too rather than leaving it on the back burner completely.

Ooh I knew you were going to be tricky to keep up with in the MFiT - T2 challenge and now you have started early to steal a march on the rest of us :rolleyes:
The vast majority of my mortgage is IO and because of the debt I really wont be paying off any until April at the earliest and even then I won't be debt free but I will have to do something about it before then or else I reckon I will be the only person in the red zone on Financial Bliss' first update chart in March :eek: that would be sooooooooooooooooooo embarassing.

DTxx

hypno06

DT, I will be ahead of you by a whole £10.........I am sure you can catch me up sharpish

I'll be joining you in that red zone anyway - I really do have to get rid of the barclayloan first before I can throw everything at the MFiT challenge - and there is no way that it will be gone by December, sadly!!

Double_Trouble

hypno06 wrote: »

DT, I will be ahead of you by a whole £10.........I am sure you can catch me up sharpish

I'll be joining you in that red zone anyway - I really do have to get rid of the barclayloan first before I can throw everything at the MFiT challenge - and there is no way that it will be gone by December, sadly!!

Oh we have to get out of the red zone by March we have agreed the same target I think to reduce by 75K fancy working out how much we have to pay by 12th March to get into the yellow zone I can't find my calculator:mad:

DTxx

hypno06

I think we need £622.50 to be in the yellow zone and £6247.50 to be in the green zone :rotfl:

Double_Trouble

hypno06 wrote: »

I think we need £622.50 to be in the yellow zone and £6247.50 to be in the green zone :rotfl:

The green zone is definitely a no go but 3 months I make that in my head £207.50 so less than £10 a day we have to have a go at that:money:

DTxx

gallygirl

What are you like woman??????

I haven't even worked out my target yet and you've got yours all calculated & stuff

hypno06

gallygirl wrote: »

What are you like woman??????

I haven't even worked out my target yet and you've got yours all calculated & stuff

It is a chocolate avoidance tactic

Double_Trouble

hypno06 wrote: »

It is a chocolate avoidance tactic

Oops I have got you to do the calculations and I am eating the chocolate

DTxx