Wanting to be debt free BEFORE retirement!

planning_ahead_2

:jMy energy monitor has arrived:j

I've opened the box, read the instructions and think I will have to wait for DH to install it:rotfl:

I'm not thick, but I am not clear from the instructions how to do this and as it is being attached to our electricity meter wiring.....he can [STRIKE]fry[/STRIKE] try rather than me:rotfl:

planning_ahead_2

Decided to go for it - who needs a man. Anyway, energy monitor now installed and working (I just need to work out how to understand the information it can give me). So, I'm now sitting here with a cup of tea and the manual.

I also took inspiration from Cialilerin and returned some items purchased on impulse from M&S in the sale. Only £19 but it all helps and as soon as the refund is processed back to my account I will pay this off one of my debts. So a huge thanks for Cialilerin (no idea how to pronounce that by the way:o).

planning_ahead_2

Oh decisions, decisions. I am a committed Boots points addict:o but have been very restrained recently and not been near Boots (real or online).

However, I have in my favourites online a number of toys and games which are likely to go into the 75% off sale (likely to go live overnight tonight apparently).

Part of me WANTS to buy the items (will be about £75 in the sale), so full price would be £300. However the new DFW me says leave the money in my bank to pay off CCs etc., and other sales will be along in the year and if not, just buy slightly less value pressies as and when I need to.

Oh help:o

planning_ahead_2

planning_ahead wrote: »

An unexpected additional £199 from me today (DH got reimbursed for some course costs - so straight off a CC):j

Dragon, I am sure you are keeping track;) but just in case I make it I have now cleared £899:T

I am really sorry for posting this here and on the Olympic Challenge, but this thread is going to be my bible so to speak and I really want to track all my payments off debt here.

Before discovering DFW I have no doubt that DH and I would have splurged cos we had suddenly had extra income this month - we wouldn't have given a second thought to paying off part of a CC debt. Total life change and thought process change has taken place in our house:j

I aim to eventually print the whole thread off and keep it - how sad is that:o

planning_ahead_2

Ok - I'm cured (Boots.com that is;))

I have filled my basket, emptied my basket, refilled, emptied it etc etc:o

However, discussed it with DH and toys at 75% are a bargain if I had cash that was my own to buy them with. Buying on the overdraft or a CC is not using MY money - it's more borrowing.

They may be a bargain, but they will sit in the wardrobe for several months until the grandchildren's birthdays come round. So they will never really be 75% off for me as I will be paying interest on the debt each month. May still work out a bargain, but as DH says other sales and other bargains do come along....and if they don't - so what . The grandchildren will still get gifts from us of some sort.

So basket emptied, favourites cleared, Boots.com closed in my browser, conscience clear:D

Sanity is slowing returning after years of believing I was getting bargains when putting sales items on CCs and not paying them off straight away.

grandma247

It looks like you are doing really well. It is amazing what a shift in thinking there is when you get into getting rid of debt , it does become addictive. I would not worry about double posting as not everyone reads ALL the threads.
Just so you know, February has been a down month for many I think it is probably a combination of things such as winter blues and annual bills that come out around then. It soon goes though and once spring is here everyone is more optimistic.

planning_ahead_2

Morning everyone:j

Debt diary day 6

planning_ahead wrote: »

Ok - me again:o

It's a new day and the DD's come of the bank. Another £228 off the debts today. So annoying that in reality it's more but they always insist on adding this nasty virus thing called 'interest' - it's not at all interesting so I have no idea what daft nutter ever thought to call it that. Mind you I suppose if I was 'earning' it instead of paying it then I might find it interesting:rolleyes:

So, running total off my debts is £1,127:T:T:T:T:T:T

I am going to try sooooo hard to find another £42 to pay off today cos that would take me sub £47k - how great would it be to say last Friday (LBM;)) I owed in excess of £48k, and less than one week later I only :rotfl: owe 'just' over £46k (ok...just over....is taking the michael but who cares;))

I posted the above on the Olympic challenge early this morning - have now checked the bank figures and don't think I can 'find' an extra £42 just yet:( I probalby could but it means raiding grocery or petrol budgets and I don't want to run out of money for those before the end of the month or I will end up resorting to putting any spend on them back on a card.....so a bit pointless if I do that:(

grandma247 wrote: »

It looks like you are doing really well. It is amazing what a shift in thinking there is when you get into getting rid of debt , it does become addictive. I would not worry about double posting as not everyone reads ALL the threads.
Just so you know, February has been a down month for many I think it is probably a combination of things such as winter blues and annual bills that come out around then. It soon goes though and once spring is here everyone is more optimistic.

Thank you for your kind words - and I can only agree about the amazing shift in thinking:beer:

I'm hoping February won't be too bad, but will heed the warning.;) My theory is that is a short month so hopefully it will 'fly' by:rotfl: Feb has several birthdays/anniversaries for our family so the big challenge will be to get through it without too huge a spend on those (thinking cap is already on for 'alternative' gifts but I already know there will be some extra spend this month - but it will not be on CCs because I absolutely refuse to put anything extra on them now.

I am up to date with the £365 in 365 days challenge - I am transferring a pound a day online and at the moment am not struggling with that. I know I could pay that off debts (at £20 already that would be almost half the £42 I am looking for today:rolleyes:). However, I think it important that I can see a small but sure pot of money growing as savings for Christmas. I can honestly say that I haven't saved money since I was a teenager (and early teens at that:o). This small daily saving pot helps offset the fact that we are throwing almost everything at the debts - just knowing there is a tiny bit there should we need it (although no plans to touch it before the end of the challenge:D).

And finally, a question for Grandma247 - do you have a thread/diary anywhere I have looked but can't find anything. Whether you do or don't - thank you so much for following my journey and for all the advice. It's a lovely boost to know someone else reads my notes and cares enough to make suggestions:beer:

dentonemma

Hi planning ahead
I've also subscribed to your diary. I think its brill what you done so far. Ebay bringing items back to the shops. I will check in to your diary most days.
I have a debt the same amout as you £48122 today end of Dec was £49594, so I also moving in the right direction.
Keep up the good work.

planning_ahead_2

Just got an annual statement from Northern Rock in the post. Good news is that I got the balance wrong (in the right direction;)). So our starting figure for debt is now £47,725 instead of £48,168:T

Also, I did know, but this confirms there are only 13 payments left :j out of a seven year loan:o so we are 71 payments in (don't even think of that in terms of years:o)

Signature line updated - and we now definitely owe 'just over £46k':rotfl: and I didn't even have to find that £42 I was looking for earlier;)

Off the pm The Dragon to let him know to amend my starting figure for the Olympic Challenge:o

grandma247

Planning-ahead I only belong to the cost of living challenge (link on your page 1) I don't have a diary or anything else because I am too busy doing other things. I barely keep up with that sometimes. Something about your post struck a chord so will follow your diary with interest.

Just a thought, did you know that if you pay your mortgage fortnightly you gain an extra months payments ?
We pay ours weekly because dh gets paid weekly. I set it up as a standing order just after a monthly payment had gone out. I asked if it was ok first. I overpay about £30 a week which was hard for us at first ( our income is a lot smaller than yours.) we have now got used to it so I am going to up the amount in a few weeks.