£77,366.35 reasons to be debt free!

Nelmer

IMD you are on a roll!!! Well done on the ebay and sticking to the budget, I think my DH is finally getting it now also, I took the same approach as you and sat down and explained everything in balck and white. Fingers crossed x

InaPickle

hypno06 wrote: »

I don't do anything any more remarkable than a lot of others on this site! I just waffle a lot on my diary giving people the impression that I do :o:o

Shurrup Hynpo - you're good, why is that a bad thing? And beating debtsthat started at £100K+ is NOT unremarkable: I'd have probably had a nervous breakdown!

40somethingmum

Hi IMD,

So good to hear you sounding so positive. :T I am very impressed by your £70 food budget . I am trying to get mine down to £100 but is still coming in between £125 - £150 pw. Any tips on meal planning;)


Have a good day.

40SMxx

REDMADCURLS

amazing budgeting - well done you - need to send your OH over to us to 'chat' to mine about how to not spend!

savingholmes

have a positive rest of week

In_my_dreams

Evening - tried to get on today but just so much to do!

Well, the moneysaving has continued but not without trials and tribulations. Started off the day badly, OH had been brooding and we went over old ground and a few accusations - which wound me up when I felt we had make such good progress.

Had long (heated) chat (shout) and agreed to cool down and speak later in the day. Got home, sat down with the budget (again) - never knew he would take this much interest in after trying to make him look at one for over 2 years :cool: We have looked at more things we can cut:-

Haircut - as my hair is black I am going to dye it myself, thereby reducing the haircut bill and increasing the black dye marks around the house/towels/carpet/dressing gown! :eek:
Electricity/Gas bill - we are going to wait to get our bills and see whether we are in credit (doubt it) and see if we can change. Also considering get one of those thingys(??) that show how much you use in an effort to cut back (OH has left two lights on AND a TV and claims it's not him that wastes money!!!)

Sky - we were going to cancel as we are paying £55 pr month including phone, going to see if we can get a reduced rate and if not we will cancel it.

Water bill - on a meter, need to try and cut back if possible.

Cat Insurance - negotiated and we are cancelling this but not pet insurance for 2 dogs :D

Opening an ISA and putting the money for the bigger things in there instead of in a tin to earn interest and OH will be in charge of this book so I can't dip in. Also going to put aside an extra £50 a month for emergencies and build up a fund.

Soooo, plan is currently pay £1200, this will increase with payrise and cutbacks to £1300 in April. In June, the amount I need to put away for annual renewals will decrease by £140 (as I will be back on a 12 month plan rather than emergency 5 month one that I'm on now) and so we can increase debt payments to £1440 per month :j:j:j:j

This reduces my DFD to approximately Sept 2014. This doesn't include OH's bonuses of approx £3k per year or ebay and other income, so it could even be June/July 2014.

As if this planning wasn't enough, we have then looked at what our mortgage would be in July 2014 and if we add the £1440 payments to our current mortgage payments, we can be mortgage free by July 2019 :j:j

So that's the plan (allegedly), we are both very upbeat tonight about it. OH can't believe how much interest we pay on the mortgage and so he is even more determined. I guess time will ease whatever he's feeling right now.

So let's see what I can do with this renewed plan - I suppose I have had a lot longer to get used to this than my beloved and I don't even begrudge him being cross and wound up. So ho hum, off to bed now with a spreadsheet full head.

Will go and have a catch up with everyone now - sorry for long post.

REDMADCURLS

wow - poacher (?sp) turned gamekeeper OH!!!!

Even if you can be mortgage free by 2020 that would be amazing. Oh wouldnt it just be lovely to be debt and mortgage free and isn't it just fantastic that you have even been able to look at planning that! Well done Mr & Mrs IMD!

InaPickle

Sorry? Why are you sorry for a long post on your own thread?!

Glad to see that things are going well overall, depsite the hiccups. I can't believe that you could be potentially mortgage free five years after getting debt-free: that's insane (in a good way!).

It seems you have been doing a LOT of thinking, and all of it for the good. Well done! Best of luck with OH. I guess you are right in saying that he hasn't had as much time as you have to come to terms with it, but I hope that he will get the picture once and for all this time. x

In_my_dreams

Thank you both - I just started messing with the figures today at work and couldn't believe the results. Seeing the amount of interest we would save by reducing our mortgage term from 17 years to 9 years is staggering and so OH then got very cross with the mortgage company instead of me :j

I just know him so well, he spends a bit of time alone and just broods about everything and then over reacts. Wasn't the best start to the day but we are both fairly happy and chilled now. I really do need to stop being so defensive as well - why do I do that?

mrs_robinson_3

Fantastic progress tonight, well done you. Had you down as blonde for some reason (am dark brunette myself though weaving in some tawny strands each month now to disguise...well, you know....)

One thing I hold onto in all this is we will have no mortgage in 6 years...am going to be rich when am in my 50s...woo hoo, face lift here I come....

Mrs R