Debt free and buy a house by 35

andymc29

I sawa thread on here just now (can't remember who posted it). But it's a woman who's boyfriend agreed to move over from Ireland to be with her if she can get out of debt. Sound familiar to my situation, my girlfriend refuses for us to become anything more serious until I've cleared my debts off. this is the biggest incentive I have now.
I want to be married (or engaged at least) within 2 years, and right now my debts are holding me back.
Time to start looking at other things I can do to earn money outside of work. Need to pay my debts off quicker.

andymc29

I'm giving myself £200 a month for going out with friends + girlfriend. I was going to draw it out in cash and only spend what's in my wallet, but am now thing this isn't very secure.

O2 do a free pre-pay VISA card for O2 phone customers. I've applied for one. Basically you can load it up with a regular payment from your bank account and then you get a text every time you use it telling you have much you have left. You can draw cash out of any cash machine and use the card anywhere where VISA is accepted (which is everywhere).

Should be a good way to track my spending better.

My petrol costs will still go on my regular barclaycard and be cleared off every month. I just want to make things easier to manage and keep track of. Thsi way I should only have four or five transactions from my current account each month.

andymc29

I just did a quick application on ZOPA to get a quote, they're offering me arate of 8.85%. My current Natwest loan is at 16.6% :eek: So I could half my interest by switching to a ZOPA loan. ZOPA's better than natwest because they make it easy to make overpayments with no charges, adn early settlement also costs nothing. Base don that, I could save over a grand in interest by the time I'm debt free. :T Which also means I'll be debt free a month earlier than staying with Natwest.

I can't apply right now though, cause I've got just under 17k outstanding with NAtwest and ZOPA only go up to 15k. I'm moving home to the parents soon and will be contacting Natwest shortly to talk about settlement figures. I've still got my nationwide loan and credit card balance, but these are being managed seperately and will both be gone within the next four months, no matter what happens with Natwest.
So hopefully in four months time, I'll just have a ZOPA loan and no other debts.:)


The rate coudl change before I can apply but I'd be stupid to take the ZOPA loan now and not be able to clear the Natwest loan straight away.

andymc29

Wow! I just looked at my first post. It was over six months ago!!! :eek:
Doesn't time fly.

I know I've only paid off 3 grand since then, but things are about to go up a gear.

I can't beleive how quickly six months has gone by. Here's hoping the next six go just as quickly. Money saving wise that is

If things go to plan, in six months time I'll be 9 grand further out of debt.

Choc-addict

Hi there,

Just read your diary and you remind me very much of myself in that I have the debt and boyfriend doesn't - I totally get your frustrations of it holding you back from moving forward and often up at nights thinking what can I do to sort this out! The real answer is nothing apart from hard work and lots of cutting back - fab that you are moving back with your parents for a bit, that'll really help with the finances

As for the £200 spending per month - i'm currently thinking of £50 per week spending and taking it out on a Monday and if I run out then tough luck so to speak...all cards to be left at home...you get the pic! Perhaps you can do it on a weekly basis?

I'm sure you'll get there and my only advice is REALLY make the most of moving back to the parents - don't see it as extra money at all and clear as much debt as possible - I wish I had the opportunity to move back home for a few months, sadly not possible

Have subscribed so will pop back to see how you are diddling, take care x

Cloudy456

Hi I've just read and subscribed to this one too - I'm also affected in my debt free quest by a boyfriend whose money management skills put me to shame! I read through your whole thread with interest, sounds like you're making some really good progress. It can be so hard to stat motivated, seems like moving home will help you loads but as Choc addict said I would recommend setting up DDs out to your debt accounts as soon as you're paid to avoid that extra money burning a hole in your pocket! Best of luck and I'll be watching out for your progress!

andymc29

thanks for the support guys, if you've got diary's I'll subscribe too, if not then make one! I'm finding keeping a debt diary really good.

Choc-addict

andymc29 wrote: »

thanks for the support guys, if you've got diary's I'll subscribe too, if not then make one! I'm finding keeping a debt diary really good.

Glad you are finding a diary helpful - it's a way of getting everything out, the little financial stresses that only us guys in debt can 'really' understand fully

Keep up the good work and i'm sure your motivation and hard work will see rewards soon enough! x

andymc29

paid another £200 off the barclaycard today, I love that it's so easy to just go to the website, tap in a number and hit "pay". Makes it easy to not change your mind half way through.

Did have to pay the following bills online last night though:
council tax £85
leccy bill: £300
Car tax: £115
:(:(

Thank god there's no more council tax or leccy bills when I move to the parents house, might even get a few quid back fro the council. My debt should go under 20k next month!!!

Am off ot the peak district with the GF tomorrow morning till Monday, mainly walking, and tea rooms (well we're both over 30). Shouldn't be an expensive weekend but will be a lot of fun. :j

Choc-addict

andymc29 wrote: »

Am off ot the peak district with the GF tomorrow morning till Monday, mainly walking, and tea rooms (well we're both over 30). Shouldn't be an expensive weekend but will be a lot of fun. :j

Ooh, i'm so jealous!! What part of the Peaks? I love walking, climbing...in fact anything outdoors!!! OH and I are off to Scotland early June andthen on way back down Snowdonia for a kayaking course - can't wait :j

Hope you have a fab time