Taxis back to basics...debt and mortgage free before 50(feb 2014)

40somethingmum · 12 March 2010 at 10:48PM

taxi73 wrote: »

Since December I think.Thiunk that's when Hypno started the challenge.
Think it runs december to december.
I'm no superwoman...

:T:T:T:T

What's your secret ?;)

taxi73 · 12 March 2010 at 11:15PM

There is no secret...LOL
We are not great earners either.IF I have to buy anything I try to get it for the best price.I try not to spend money on anything un necessary...this works 99% of the time (except cigs but this is in hand)and I just pay any spare off the debts.
My min payments a month on my loans and cards is quite a lot...so soon adds up.I don't buy clothes as I get gift vouchers for christmas/birthdays.I don't go out drinking.I buy presents when they are in sales for the family.
I do some surveys,buy through quidco,bits and pieces add up.
I'm tired and can't really think what I do as after all this time the stuff I do comes naturally.There is all sorts of good info all over the board.

Keeping_Motivated · 12 March 2010 at 11:24PM

taxi73 wrote: »

We are not great earners either.

:eek: Taxi you have paid an average of £4000 per month off the debt and you have paid your utilities and groceries and car bills on top of that too and you say you are not great earners? Lol I wish I earnt that much per month

Well done for managing your money so well you're doing great x

taxi73 · 12 March 2010 at 11:45PM

I haven't put tax away or money towards car bills.I pay as I go and take it out of the money as I go.Some months I can pay loads off debt as there are no major expenses that month then other months I just pay minimums.
It's a hap hazard scheme that usually works as I know roughly what is due out and on what months.
As soon as I put my books in in april and know what tax we owe that will give me 7months ish to put the money by for jan...so I just divide it up and put that amount away per month.
Taxi insurance....and house insurances...I sort it out the month before due and pay in full those months...so not much debt busting then.

It will be so much easier when the debts gone as I'll throw it all into my offset and then when the big bills come I can just transfer whats neeeded to the offset...it always arrives the next day.

It'sjust this year I can come unstuck if I get a massive bill but I have a decent overdraft and cards available with large limits if needed but would have to be a dire emergency.