I want an easier life for myself and my family

lauhen

I have decided to embark on my pathway to being debt free. I have been lurking verging on stalking on these threads for a while now,i post occassionally, but normally i tend to just read and run for hills.

My lightbulb has being changed and it is now letting off immense light, i need to sort out ours debts asap. i dont want to have the burden anymore, i can do without the stress, i get stressed in normal life and i do not need any added stress anymore.

I am a mum of two, a girl aged 7 and a boy aged 2 (nearly 3), i am married, have a mortgage, bills, debts etc etc, you all know the drill.

I am going to find it easier to acheive if i break the debts down, if it is written as one lump sum, then i will head for the hills again i am sure.

Firstly i am going to tackle barclaycard (previously goldfish), the balance on this is £808.66, the montly minimum payment is £16.17 and the monthly interest is £16.26, the maths just doesn't add up.

Secondly i am going to tackle virgin, the balance is £1,170.73, the minimum payment is £25 and the monthly interest is £22.80, once again the maths just doesn't add up.

Lastly (this isn't the last debt, it is just where i am drawing the line for my initial attack) i am aiming to clear lloydstsb, The balance is £4,647.57, this is at 0% for 14 months and has only just started, the maths does add up here, it will be nice to clear one fairly quick without added interest. The bank helped us out with this one, they called us in for a chat as they saw that we were having a nightmare with debt and offered to transfer some of it onto this card at 0%, since when have banks been so helpful, we have been with them since forever, maybe loyalty has paid off a bit (yeah right).

Anyway, i will leave you with that for now, as i need a cold drink, it is hot and i dont like it, i will fill you in on how i will acheive the above in my next post as I HAVE A PLAN............................................................. AND ITS LEGAL

lauhen

By the way, please feel free to offer insight, knowledge and wisdom, i need it.

zzzLazyDaisy

Hi, I don't normally post on the DFW boards, but I just wanted to say a big 'WELL DONE' for taking the first step.

Also, do you have other debts that are accruing interest?

If so, I do wonder if you might be better tackling those first, before the 0% loan, because it is the interest that is dragging you down.

lauhen

The other debt is a loan that lloyds sorted out when we had a chat to sort out debt, it a for a larger amount and yes there is interest, it I payed what I am paying now, it will take 7 years to clear the loan, but I did ask if I could make extra payments and they said yes, so what the heck I will chip away at this also, I will post the details of the loan once I dig out the paperwork.

lauhen

The Plan; back in February I applied for a job as a bank healthcare assistant, I had an interview, I was extremely nervous but I got the job. I have had to have an occupational health assessment, crb check which takes a while, some training days, I had trouble with references not being returned, but finally the end is in site for me to begin, I have to ring tomorrow to arrange my 3 mandatory shadow shifts and then I can start. At first I am just doing weekends, every penny from this is to go on debt, so hopefully there will besome decent sized chunks chipping away. I have been waiting so long to start......is anyone else a hca, the trousers are extremely uncomfortable and awful, took a trip to m&s and found some better ones that look very smart.

lauhen

I have caved in, I need to face my fears, the loan is the remainder of the debt, it is for £22,470.00 to be paid over 84 months, I can make extra payments to this. Which I definately will do. The apr is 11.4%.

shell_girl

Hi Lauhen,

Good luck with your debt busting! We also have [STRIKE]a[/STRIKE] two loan(s) with Lloyds TSB, the first is ending in 6 months. I just wanted to let you know that a few years ago it seemed like we'd never ever reach the end of either of them. The big one still has a good few years on it, but like you we plan to make overpayments when we can and bring it forwards.

The hca work sounds like a great plan to shift some more debt :T
Roughly how many shifts are you planning to do a month?

lauhen

Hi shell_girl,

I plan on just working weekends to start with, the money per hour is a fair amount more than a weekday. I can also have the option to do earlys, lates, nights or all day, so I could in theory do a fair few hours and get a decent wage. I am going to start doing earlys and in about a month build on this. I need to learn the ropes first, there is alot that a hca is responsible for doing.

lauhen

As stated in my signature aswell as debt busting I have also set myself a Christmas for free challenge, meaning I won't have to use credit cards anymore, I have bought a fair bit with the money I have saved so far, I have saved by using cashback sites, mostly doing all the free things and bingo and free trials, eBay, take unwanted wii and ds games to game and getting money in return, all the usual. I am saving up all survey vouchers to buy daughter an iPod nano from amazon (she loves music and gadgets). Also my dooyoo vouchers will go to this aswell.

Cashwitch

Good luck lauhen! I have a mate with a couple of kids who works 3 long days (or 2 or 3 nights) a week...she earns a full week's pay doing this and it leaves the rest of the week free...you'll get extra for unsocial hours. Not sure how this will fit with your family but just a thought....

lauhen

Thanks cashwitch,

I am considering working those types of shifts, I could do a Friday evening, and any when on a Saturday, and early or late on sunday, so I could do it. Being bank I could work all over the trust which covers 4 hospitals local to me, so the job will be varied. Just need to phone them tomorrow to start my 3 shadow shifts.