What I/we've been up to..

newleafer

Hi

I thought I should post an update, its also a confession, in as much as we've not been doing so well in terms of MS. Yes we got our outgoings down to under our incomings, which is great, but due to our cicumstances (wont bore you with the details that I've already posted, but OH works away 4/5days 110miles away) we've both been spending on the "I'm on my own so I'll have a bottle of wine, or its not so easy for me (OH) to cook or make my lunch so I'll buy it out". SO the money thats supposed to go on debt is not, and in true brooding wife fashion I cried and sobbed about never being able to have a baby etc....., its always on my shoulders, my body clock......blah blah blah!!! :mad:

So OH does what I've needed him to do was take over for a while....., good you all think, its his share too. Thats true but he looked at our finances in a different way, anyway the up shot of this turn our lifes round in a year by getting our outgoings down by 300-400 inabling me to to need to earn less etc.

So cool, move this here, move that there......and this is our not quite doing it the MSE way, hubby has consolidated all our credit card debt into one loan:eek: which apr wise is much, much better. We are left with 3 loans, no credit cards, thats good, but only one allows us to throw the extra money at it.

So thats the confession over with, I didn't feel very MSE about this decision but I did need OH to take over for a while. And now we know exactly when these loans end, in a year our credit rating will be better than now we could swap to a better rate or join 2 of them. We have our fixed period on the mortgage finishing soon, and more equity in the house so we will drop under the LTV 95%, no more redemption fees!!!

So in a way for us a more rigid budget is better, the credit cards will be cut up and closed! So I hope as much as I dont feel we've really done it the MSE way it does mean that I can have a baby before I reach 40! And if you knew me you would want me to have a baby just to shut me up!

I'm grateful all the advice I get here, and everyone is great, but I do expect a slap on the wrist from you all for taking the easy way out, but it wasn't wholly my decision.!!:rolleyes:

Thanks for listening as usual! :j

oops_a_daisy

no body is going to slap you for sorting yourself out the way that makes you feel happiest. At least now you know exactly where you are going and seem more content with that.
All the best for the future and good luck

Fuffa

Yay well done I've also taken out a loan and cut up my cards here's to us and everyone else who's sorting out their debts.:T

duncans-mum_2

Well done for getting things sorted. If the apr is better, then surely saving money in the long run on interest charges is a good thing.

newleaf

Hi there :wave:
I wondered where you had got to! You talk as though you have done something wrong, but I don't think you should be so down on yourself. Our personal situations are all different and we all work things out in the way that makes most sense to us. The way you have worked things out is obviously what suits you best in your circumstances. No-one ever said it was going to be easy! The important thing is that you had your LBM, and you are sorting things out.
Keep up the good work

yung

wether you do it the MSE way or your own way does not really matter, as long as you take control of your finance, the good folks on here give helps and advises at the end of the day the decision is yours. I wish you all the luck for the future with the Baby. good luck

roswell

dont just cut the cards up close the accounts as well make sure you cant just phone for a new card :-)

saubryn

You've found the way that works best for you, and it sounds like you know what you're doing, so its all good! Consolodation isn't instantly a bad thing, its just those stupid ads on TV that offer it as an instant solution, and have people going into it without even considering cutting up their old credit cards, etc that are bad.

If you need to know where you stand, and if it is helping you do things that you want to with your life later on, then more power to you

Murtle

Consolodation loans are not good when people build up the credit again, so close the credit card accounts so you aren't tempted to spend on them you'll feel great for it - promise!!

Throw the money at the one you can so that it disappears for good. Then throw the excess into a savings account if you can't throw it at the next pot. You'll build up a nice pot of savings whilst knowing that you'll be debt-free soon.

It really is important to cancel the cards, if they are there they will end up being spent on

nag over - Congratulations for sorting it all out and getting OH on board. Now just to find some cheap treats for when OH is away

x x

roswell

Oops forgot to mention if you really really dont want credit again you could get a notice put on your credit file saying contact (home number) before giving credit. good early warning system as long as the company searching your file actualy reads it

newleafer

Just wanted to say thanks for all your great replies. You've made me feel sp mich better about the situation, I was feeling like I had taken the easy way out with the loan.

NW