Jellie's attempts to banish the wobbles and get debt free!

savingholmes

hi jellie - glad you have an exchange date - it will be a relief to have the money I am sure...

*Jellie*

Everyone invited to any virtual parties I hold!!
BAB of course!!

It will be a relief to get the money SH but does produce a bit of a quandry! In the last 6 months I've had to make several payments related to the house move which has meant I might not make my DFD. Won't miss it by much but did want to be debt free when we buy our house.

Do I use a little bit of the house money to cover those payments (e.g. removals and storage) to make my debt free date? Do I refuse to touch it and clear everything 'properly'. I'm hoping to get some money back from gas, electric and BT since I'm sure their DDs have been higher than they should be. However I'm not sure it is enough to cover the extra payments I've made.

In my position what would you do??

Primula

Jellie, I would definitely use some of your sale proceeds to pay the remainder of your debt off and then you would be starting with a clean slate and a brand new budget starting off in your new home. It's not like you would be using your whole free proceeds to pay off your debt, and like you say, you have had expenditure putting your house up for sale.

And then I would make a vow to myself never to buy anything on credit again (well apart from a house or car but all the other "things"!), so, for example, if I wanted new furniture etc for the new house, I would save for it until I had the whole amount of cash to pay for it!

Anyway, that's just my opinion for what it might be worth!

savingholmes

Primula wrote: »

Jellie, I would definitely use some of your sale proceeds to pay the remainder of your debt off and then you would be starting with a clean slate and a brand new budget starting off in your new home. It's not like you would be using your whole free proceeds to pay off your debt, and like you say, you have had expenditure putting your house up for sale.

And then I would make a vow to myself never to buy anything on credit again (well apart from a house or car but all the other "things"!), so, for example, if I wanted new furniture etc for the new house, I would save for it until I had the whole amount of cash to pay for it!

Anyway, that's just my opinion for what it might be worth!

I completely agree! Anything else is likely to cost more in interest anyway - so pointless!:money:

Chrisblue1962

Hi Jellie

Hows it going? Get paid Monday

*Jellie*

Thanks for the advice.
I've decided not to make a decision yet!! I will keep the money aside and see how I go without using it!
Paid another £150 today

*Jellie*

Chrisblue1962 wrote: »

Hi Jellie

Hows it going? Get paid Monday

Going fine thanks. My house has just exchanged and due to complete next Friday :j
Looking forward to getting round to some house hunting next week!

Lemon_Tree

yay another step closer to selling the house.

*Jellie*

Thanks LemonTree!
I'm a bit manic at the moment trying to get everything sorted and booking in lots of house viewing as OH and I have the week off to concentrate on it all.
I'm feeling a bit stressed.
I'm also battling a MAJOR urge for a splurge!!

Lemon_Tree

i lost that battle this week Jellie.
Capped it off yesterday with the purchase of a new bed on 12mths 0% credit (though we do have enough saved to have paid it in full anyway). Sat there on tenterhooks whilst the credit check was done, and i'm not sure why as half my debt isn't on my credit record and i've never had problems paying stuff etc. It was refered but he said it's was the fastest he'd seen come back from a referal which was probably due to my name changing in the past year or so and a credit check being on file due to getting a new current account. (well that's what i'm telling myself anyway) still feel strange about applying for credit though as it's the first lot i've applied for since i seriously got into the DF frame of mind.