Starting my Journey

Ashamed_2

If we carry on the way we are, in 4 years we willl owe £48,000+ on debts alone.
Making the small changes and taking advice from this forum, I have worked out that if I make some changes and not even big changes. In 4 years time we will owe £2,000 . Let see if we can do it. I'll post up monthly balances on this thread.

Barclaycard (Balance £10,306.73 APR 21.6%)
HSBC (Balance £5,800 APR 20.76%)
Santander (Balance £8,090.91 APR 10.56%)
Halifax (Balance £10,400 APR 3.96%)
HP (Balance £9,320 APR 0%)
DFS (Balance £1,400 3.5 Years remaining APR 0%)
Halifax Loan (Balance £18,328 6.5 year remaining APR 13.7%)
Mortgage (Balance £166,894.00 22 years remaining APR 6.5% fixed for another 6 years)

Total Creditcards / loans £63,645.64
Total Mortgage £166,894.02

Overall Total
May 2010 £222,448.73

skaps

Good luck. Thats great that you will be down to £2000 in 4 years time. I have subscribed so I will be back to see how its going.

Determined_2b_Debt_Free

Fab news! I saw your original post so will be great to follow your progress - good luck!

beanielou

Hope that your journey goes well

Snowdonlily

Good Luck....you can do it

Wol2

Hi Ash

Read your original post today (and could really associate with your current position).... and so couldn;t pass your new diary by without saying - well done; stick with it; stay strong; .....:grouphug::grouphug:

......and with the wonderful peeps help and support on this forum coupled with you and OH;s determination you WILL get there. :T

It may be a bit of a roller coaster sometimes - but stick with it. This is THE BEST place to be ..and the DFW peeps will support you ...wobbles or no wobbles

I am so pleased to see you have now started a diary - welcome to DFW diary land :T

xxxx

yukkibear

I'm subscribing too, good luck with your journey

hypno06

Welcome aboard the good ship DFW

mz_grim

Welcome, I have also read your original post good luck with everything you WILL get there

"subscribed"

Ashamed_2

Thanks guys & girls,

We have started making some changes aleady. Contacted Barclaycard to see if they could lower my interest rate. No luck there and got told that the interest would be rising in June. So straight away we looked into transferring some balances around. Only had space on my Santander card. Transfered £5,130 from Barclaycard to Santander, so interest on that £5,130 has dropped from 21.6% to 10.56%. I also managed to talk my way into wavering the transfer fee of 2.5% .
So the credit cards now look like this:

Barclaycard (Balance £5,176.73 APR 21.6%)
HSBC (Balance £5,800 APR 20.76%)
Santander (Balance £10,130 APR 10.56%)
Halifax (Balance £10,400 APR 3.96%)

Under investigation at present:
Electricity and Gas
Building and Contents Insurance

I'm very excited about publishing the months results in 3 weeks, so see how much I've paid off in 1 month and set the bench mark for the next 4 years .

Ashamed_2

Just got back from the Halifax. Turns out that my Building and Contents insurance is £41.77 a month. The other £68.55 is mortgage protection.

Going to have a read up on this. Not sure if I should stop the Mortgage Protection overall or just downsize it.

I know I can still do better than £41.77 a month for the same cover on the building and contents so will look into this this afternoon.

On the upside. I've only spent £1.65 at work today rather than the usual £12