This debt must go

clearmydebts

Sounds like a very productive weekend Star. Really annoying about the company not paying you. Are they usually like that?

We could do with another toy clear out. This weekend maybe!

Just looked at your sig. You are doing so well. Past the half way point now which must be so motivating!

starnac

clearmydebts wrote: »

Sounds like a very productive weekend Star. Really annoying about the company not paying you. Are they usually like that?

We could do with another toy clear out. This weekend maybe!

Just looked at your sig. You are doing so well. Past the half way point now which must be so motivating!

Yes they are :mad: We are in contract with them til March and then we are moving from them. I'm pretty sure we could force them to cancel the contract early due to their incompetence but it's complicated so it'll be easier to wait til March then have a clean cut from them. (Hopefully :cool:)

Yes we are past half way and so close. :T Unfortunately I'm feeling more apathy than motivation The debt is so low compared to what it has been, the payments are manageable, plus we've been doing it so long, it's just so tempting to just ignore it and leave it run it's course (got 4 years left on the loan) But I won't I promise. It has to go this year. No excuses!

clearmydebts

starnac wrote: »

Yes they are :mad: We are in contract with them til March and then we are moving from them. I'm pretty sure we could force them to cancel the contract early due to their incompetence but it's complicated so it'll be easier to wait til March then have a clean cut from them. (Hopefully :cool:)

Yes we are past half way and so close. :T Unfortunately I'm feeling more apathy than motivation The debt is so low compared to what it has been, the payments are manageable, plus we've been doing it so long, it's just so tempting to just ignore it and leave it run it's course (got 4 years left on the loan) But I won't I promise. It has to go this year. No excuses!

Have you a goal for what you want to do when you are debt free? Maybe if you had something to aim for it might increase your motivation?

Personally I just feel I have been floundering around for years talking about clearing debt. I just want to get rid of this noose around my neck now!Wouldn't it be lovely in a few years time to have no debt and about 10k savings in the bank!

starnac

clearmydebts wrote: »

Have you a goal for what you want to do when you are debt free? Maybe if you had something to aim for it might increase your motivation?

We do. We would ideally like to move. As much as I love this house, it's on a main road and we only have a yard out the back. I would love somewhere that has a drive (I'm not bothered by a garage, as long as I can actually park outside my own house every night) and a big garden. Ideally an acre! Our big dream is to build our own home but that just doesn't seem achievable really as we would need a LOT of savings to make that happen

clearmydebts

starnac wrote: »

We do. We would ideally like to move. As much as I love this house, it's on a main road and we only have a yard out the back. I would love somewhere that has a drive (I'm not bothered by a garage, as long as I can actually park outside my own house every night) and a big garden. Ideally an acre! Our big dream is to build our own home but that just doesn't seem achievable really as we would need a LOT of savings to make that happen

Some great aims there Star. Rather than focussing on what seems unachievable how about your reward yourself with something nice when you clear your debts and then put the heads down and start overpaying the mortgage. Its amazing what's achievable when you have a nice bit of equity in your house!

Says the one who doesn't even have a house!!!

starnac

Thanks CMD. I'm not really sure what we would want though. We already overpay the mortgage every month as we kept the same payment amount when we changed our fixed rate and our interest rate (and therefore monthly payment) dropped. Our aim is not to sell this house when we move so we would need to save a lot of money for a deposit.

All I can see at the minute is as soon as we are debt free we will need to start saving asap! It's hard. What's your goal after debt freedom?

clearmydebts

Ah I see where you are coming from now! It must be a great feeling to over pay. Do you have many years left on your mortgage?

Well my aim is to clear the Irish card, get a mortgage, clear the UK card, over pay the mortgage and then move to our preferred location. Oh and somewhere along the way acquire a little holiday home in Portugal.

Did I mention I was a dreamer. Ha ha ha

starnac

I am also a dreamer!!

We've got about 20 years left on this mortgage. When we moved here, it wasn't our dream house but we were living with my parents and just needed to get out. We said that we would live here for 5 years. We would pay off our debt then save to move while keeping this as a rental income. We've lived here 4 years now and are still paying off our debt!! However we have got a lovely DS that we didn't really factor in when we made the 5 year plan.

When our fixed rate was up and we looked around, we realised that our monthly payment would drop by about £120 a month. We could have kept that money and paid it off the debts but long term we decided it would be better to have a smaller LTV ratio on this for when we have to change the mortgage from a residential one to a BTL. We don't really notice it as the payments didn't change

Cheery_Daff

So close now starnac! :j :j Must be hard to keep motivated after years but I can tell you it feels just SO good to be debt free :j :j Keep going, you'll be there before you know it!

starnac

Cheery_Daff wrote: »

So close now starnac! :j :j Must be hard to keep motivated after years but I can tell you it feels just SO good to be debt free :j :j Keep going, you'll be there before you know it!

Thanks cheery. I've been reminded today (on a separate topic) of the quote that goes something like "a year from now, you'll be glad you started" or something like that anyway