Debt free by Summer 2012 (if not sooner!)

DebtFree2012

Right I have taken the plunge and worked out my new DFD.

This is based on assumptions and facts LOL.

Assuming I can get a new 0% card from January 2012 to cover Virgin balance I will aim to clear that in 2012 whilst making min payments elsewhere. So 2012 goal, clear Virgin.

Then in Jan 2013 (assuming last payment to Virgin is Dec 2012) I will then combine the remaining CC balances which will be around £5665 ( I hate owing this much - why o why did I do it). I will clear this (final CC) in 2013, last payment in Dec again.

Then I will start Jan 2014 owing 2 final payments to my loan along with my balance on my 0% loan. This is apx £3941. I will have 3 months of payments in 2014 then I will be Debt Free!!!!

I stupidly worked out the days and pay days to debt free date which is 929 and 31.

The good thing is I have included an entertainement budget and clothes allowance in there for those times when you feel like you just need to. Entertainment is £70 every other month (DH should pay in between if I offer every other so that's a bonus) and clothes is £50 which I will save and have a seasonal shop every 3 months maybe.

Also I have covered everything I can think of, mot, tax, usual outgoings, emergency fund (only £15 a month but better than nothing), birthdays, holiday (£50 a month) xmas savings and school expenses. I think this is as much as I can do for now. I have restricted myself too much previously hence the break out during the holidays so now I know I have some personal money set aside, pocket money if you like, I don't feel the rebel need in me...as much!

Any ideas greatfully received!

Oh I haven't assumed rises at work or anything, we're supposed to get a bit a year but I haven't calculated for that. Nor does this include anything I sell on ebay and such like which would go towards the kids clothing and things anyway. same for quidco....can't think of any more....

Skint_but_Optimistic

Life is about balance. You do right.

I am going to hit my 30k target this year and then recalculate my DFD. One focus at a time!!

DebtFree2012

Capital 1 closed!

x

DebtFree2012

No post yet but works post due at 215....not holding much hope though.

needingaccountability

Looks like your all set to make it to the finish line. You need to pace yourself, no good setting of at sprint when it's a long distance race. I so know if I was in for the long haul there would be no way I could keep going on the budget that I have at the moment. It's only the light at the end of the tunnel that keeps me going (with the odd blip :-) ) You've got to enjoy the journey on the way. Congrats on the Capital 1 closure :T

DebtFree2012

That's very true. Thank you

xx

DebtFree2012

No chq it'll be Monday now as it's coming to work....at the earliest!

Skint_but_Optimistic

Well rid of capital one. The cheque is coming. Good things happen in threes!
Something good is coming!!
XXX

Kepp

Fingers crossed for cheque arriving soon!

needingaccountability

DebtFree2012 wrote: »

No chq it'll be Monday now as it's coming to work....at the earliest!

Hope it's arrived