Inspired Debt-Free Wannabe

CJ2512

Hi,

I wanted to start my own thread so i can post and update my progress as i go along, after viewing so many threads before signing up, it has given me so much advice, inspiration and hope that there is 'light at the end of the tunnel'.

I will be updating on mine and my partners progress as we pay off our debts so we can get a house together! Debts below....

Regarding the HSBC loan, i am hoping to save to get that paid off in a lump sum so the figure below is with interest (if i pay it off in September i will be looking at £8500.00 approx!)

Old_iron_balls

CJ2512 wrote:

as we pay off our debts so we can get a house together!

exactly what im aiming for.
Having a target like this has really helped me to keep motivated.

GOOD LUCK ! :beer:

kathfisch

Welcome to MSE and good luck!!

Do you want to post a Statement Of Affairs at some point, see if there's any savings etc we can suggest?!

Best of luck

CJ2512

Hi There

Thanks for your support, my SOA are as follows

My Salary is £14,500.00 per annum (approx £950.00 per month)
My boyfriend is self employed and so is wage varies, at the moment he earns £550.00 per week, hopefully will be earning this for a while as he has a good contract going.

Monthly Outgoings

My monthly board - £80.00
My boyfriends monthly board - £150.00
Gym membership - £40.00 each per month
Boyfriends car loan - £183.83 per month
My car loan (parents) - £100.00 per month but looking at paying more each month
HSBC Loan - £214.41 per month
Lloyds TSB CC - 0% till september - we are making this our priority (paying between £200.00 - £400.00 per week - depending on other outgoings!

Any advice would be welcomed, i am trying to prioritise!

Many Thanks for your help

:T

Pobby

Hi and best of luck.Are you using the gym?I had membership and in the end stopped going.Fool I am,I didn`t stop paying until a while after.

kar

Does 'board' include food?? What about car tax/insurance and things like that?

If your parents can wait I wouldn't pay them extra but pay the extra off something your being charged interest on - like the HSBC loan or b/f car finance or add it to the extra already going towards the CC.

Good luck with saving for the house - it's what I'm aiming for too.

CJ2512

Yeah, i am quite lucky because the board includes food, drink etc. I forgot to mention our mobile phone contracts (£35.00 per month each). I don't have car insurance (i paid it off all in one) and my boyfriend pays about £88.00 per month for his. We do both go to the gym reguarly about 3 - 4 times a week, we thought this would be best cause it gets us fit, gives us something to do without going out and spending it on rubbish! I think i will put the extra money from the car towards the cc and then save for the loan!

:A