Skaps's "Will i ever be debt free?" diary

skaps

Yesterday I had a lovely day out in Camden with the OH. Did not spent lots just on food. Today looking to buy my wedding shoes for less than 20 pounds.

The bt has finally gone through but as santander is crap at answering the phones i cant use internet banking to check my statements so i have had to estimate the bt fee. My debt free date is now april 2014. By balance transferring it has taken 4 months off my date. :j

skaps

Had a success with the wedding shoes, have got some lovely sparkly ones which my mum bought for me.Yay! Going to put this money towards the wedding now.

Im so stupid - i thought i had transferred £231 to my isa instead i had set it up for next year plus i had transferred it to my current account. Oh well at least the money is still there - i have now transferred £260 to the isa. So i am now up to £5141.64 which is 96% - £210 left to save.

skaps

NEW AND CURRENT TARGETS:

1. Save £5350 for the wedding - 96% of the way there
2. Save £1000 for honeymoon spending money by end of July
3. Save £800 for car insurance
4. Buy wedding rings
5. Pay £900 off ccs with the 1 debt vs 100 challenge
   
6. Apply for a promotion
   
7. Save £350 for home insurance for October
8. From October increase mortgage overpayment from £60.11 to at least £80.11
9. From October save at least £50 a month for emergency/kitchen savings.
10. By the end of 2010 reduce debt free date by another 4 months so it is december 2013.

Thought I should write down all my targets now to help me budget for everything. The ones in pink are the main priorities at the moment.

skaps

Interest has been added to the isas which was nearly £14. Yay. Now have £195 left to save for the wedding.

skaps

Today im at home pressure washing the tiles so another NSD for me which takes me up to 7. Also the bric a brac van came down the road and i ran to stop them so they have taken our two pc monitors away. Still have to go to the dumping ground tomorrow though as we have wardrobe parts to chuck.

skaps

Just have remotivated myself and the OH - my overpayments of £60.11 mean that I will reduce my mortgage term by 3 years and 1 month and I will save £49000! Hoping to increase overpayments after the wedding is over to £100.11 which would reduce the mortgage term by 4 years and 8 months & £73,835.12.

1. Save £5350 for the wedding - 96% of the way there
2. Save £1000 for honeymoon spending money by end of July
3. Save £800 for car insurance
4. Buy wedding rings
5. Pay £900 off ccs with the 1 debt vs 100 challenge
   
6. Apply for a promotion
   
7. Save £350 for home insurance for October
8. [STRIKE]From October increase mortgage overpayment from £60.11 to at least £80.11 [/STRIKE]- this has now changed to £100.11 from September
9. From October save at least £50 a month for emergency/kitchen savings.
10. By the end of 2010 reduce debt free date by another 4 months so it is december 2013.

skaps

1. Save £5350 for the wedding - 96% of the way there
2. Save £1000 for honeymoon spending money by end of July - £30 so far 3% there
   
3. Save £800 for car insurance
4. Buy wedding rings - have found out my wedding ring size which is an L or M
   
5. Pay £900 off ccs with the 1 debt vs 100 challenge
   
6. Apply for a promotion
   
7. Save £350 for home insurance for October
8. From October increase mortgage overpayment from £60.11 to at least £80.11 - this has now changed to £100.11 from September
9. From October save at least £50 a month for emergency/kitchen savings.
10. By the end of 2010 reduce debt free date by another 4 months so it is december 2013.

Today has been another NSD for me so now am up to 9/18. I woke up early and have got lots done. Back to work tomorrow.

Lemon_Tree

hi just found your diary again, you are doing so well you must be feeling very proud of yourself.
how did you work out how much your overpayments on the mortgage were saving you? was it via a snowball?

skaps

Thanks, its been great joining this website i finally feel in control of my finances. You are doing really well too.

I used the calculator on here - hope the link works
http://www.moneysavingexpert.com/mortgages/mortgage-calculator

Lemon_Tree

thanks, just checked out the link, at the moment the little we can push towards the mortage will save us just 7mths or £1k but when we're debt free a year sept and can put £500 extra against it (the most they will let us) we'll have paid it off in 5 years rather than 21. It's great to see how much difference that's going to make for us.