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DF at 24
Lyndach
Posts: 446 Forumite
Hello Everyone!
I'm starting this in the hope that I will stick to my aim and be debt free before I'm 24yrs old.
(and now my rambles)
I'm 23, as of 27/11, I'm a mother to a 4 month DD and a Fiance to a even more in debt man. I'm currently £2,860 in debt, which I know is not alot compared to some people but i'm still struggling. I do live at home still with my mum, brother and fiance, so our bills aren't high.
Currently I'm on Mat leave earning £400 a month but in February I go back to work, and will drop to £230! and my outgoings? well now that's a lovely £345pm.
I get £160 CB/CT pm so that will go on my outgoings which are
Rent/gas/elec/food: £200
Natwest:£820
CC:£430
Catalog: £1,560
Baby: £45 to £60
Personal hygiene bits: £5
So I shall be left with £40 a month to put aside and pay my bills off quicker, well that's the plan anyway.
I'm starting this in the hope that I will stick to my aim and be debt free before I'm 24yrs old.
(and now my rambles)
I'm 23, as of 27/11, I'm a mother to a 4 month DD and a Fiance to a even more in debt man. I'm currently £2,860 in debt, which I know is not alot compared to some people but i'm still struggling. I do live at home still with my mum, brother and fiance, so our bills aren't high.
Currently I'm on Mat leave earning £400 a month but in February I go back to work, and will drop to £230! and my outgoings? well now that's a lovely £345pm.
I get £160 CB/CT pm so that will go on my outgoings which are
Rent/gas/elec/food: £200
Natwest:£820
CC:£430
Catalog: £1,560
Baby: £45 to £60
Personal hygiene bits: £5
So I shall be left with £40 a month to put aside and pay my bills off quicker, well that's the plan anyway.
GC July: £0/£120
0
Comments
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Congrats on your little one. Try the Make £10 a day challenge as a way of upping and potentially doubling your income. It can be done - you will find the link on the DFW boardAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £169.8K Equity 37.1%
2) £1.5K Net savings after CCs 11/2/26 (but owed £1.4K) so £2.9K
3) Mortgage neutral by 06/30 (AVC £34.8K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 40.6/£127.5K target 31.8% 16/11/25
(If took bigger lump sum = 62.7K or 49.2%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5.2K updated 16/1/260 -
Thank you! I had a look and made 50p so far haha!
Just been reading my paperwork for my maternity leave and I may be able to extend it and not loose any money. Though I wont find that out till Wednesday, been so stressed I've mad myself ill.GC July: £0/£1200
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