2011 is my year to get sorted

MRSM1983

Happy new year to everyone. Can't believe it was I year ago I started this diary. I know I am not a regualar poster but looking back over my posts has really inspired me today. Looking back I am really proud of our achievements.

Well what can I say we are now have nearly £14K less debt than when I first signed up to the website and are still going strong trying to pay off our debts. Some months we only make the minimun repayments but other months we try to do more and slowly but surely it is starting to add up. Although I know we still have a really really long way to go.

So my new target for the next couple of months is to try and pay my overdraft off. I am really going to do my best to do this by march or as close to it as possible. It is £1500 so wish me luck. It was I feel where all my debts started from, it was the first thing I ever had a credit and that was nearly 10 years ago now, To see my bank balance in the black every month will feel amazing I just know. That is my motivation.

My husband and I have also put our flat on the market for sale so fingers crossed it sells soon and we can move in with my in laws to pay off some more debts quicker than we are and to save for a bit of a deposit for a house that we hope to buy hopefully this time next year....so watch this space.


We have also started tryiong for a baby. I know financially it is not perfect timing but my son is 3 now and I really want my children to grow up playing together. This time though I WILL budget. However we have to get pregnant first, so this is the fun bit. I am still trying to lose those lbs too, back as ww yesterday so who knows, one day I might actually be the 8st 10lbs I was when I met my hubby.

WOW in a year how things have moved on all the things I talked about us doing next year are now actually happening. :j

So for now my aim is to get our debt to under £40000 by 30th March and to get of my overdraft in the process.......so it's time to get busy.

MRSM1983

Everytime I come on here and write a new entry I always look back over the previous ones. I am proud of how far we have come with our debt, sometimes I wish it was more but on the other hand we have not got ANYTHING in credit for the past two years and our debts have gone down every month which I think is really impressive.

So my big news is that I am currently 5 months pregnant with baby number two :jstarting to get very big and very excited. We also had a buyer for our flat but that all went pear shaped yesterday he has basically dropped off the planet and no one can get hold of him so our flat is back on the market. We are really hoping to move asap as we want to make a real dent in our debts an buy a house. We have about £12,000 for a despoit for far which has come from the husbands inheritance. We are hoping to save another £12-15 k while staying at my in laws so that we can buy somewhere. We are also hoping to make a real dent into our debts during this time.

The plan is to have them at about £20,000 by this time next year which for us will be amazing and will mean we have paid off the best part of £37,000. We have currently paid off £20,000 which I am so proud of.:T:j

So between now and christmas finance wise here is my plan:
1. To get rid of my overdraft (I know I say this everytime)
2. Hubby and I to both be overdraft free
3. To have all CC on interest free and to have the whole lot together under 20k

Lets see what happens. I am going to try and write my diary every month from now on with an update towards these targets. Fingers crosses

xx

MRSM1983

Target 4 and 5
4: To organise my bank account
5: financial review and 2013 targets

MRSM1983

Wow just been re reading my previous posts. Some things feel like such a long time ago. So what has happened in the last six months:
Well firstly and most importantly we have had a beautiful baby Girl :happylove:happylove who is completely amazing.
we have also sold our flat and moved in with my in laws to save for a house deposit. Hopefully we will have £11,000 saving by new years eve :j:j:j:j:j:T:T we still need the save at least another £9,000 but are going to look at out first house this weekend.
debt wise all cc's are now on interest free and the old ones are in the process of being cancelled. I need to update my signature as things have changed quite a bit but just need final figures first.

So goals for 2013:
To reduce debts to £20,000 by NYE 2013
To buy a house
Hubby paying into a private pension

Massive goals for one year I know and I need to break them down slightly.

Debts by 2013:
Overdraft gone = £1500
Loan to inlaws gone = £3000
Loans to parents reduced by: £1200
Loan to Santander reduced by £3000
Hubbies CC reduced by £2400
My CC reduced by: £5000


House:
Save £18000 by June 2013
Apply for mortgage in June/July
Find house
Carry on saving
Move in before Christmas 2013

Pension:
Have a look around for the best deal
Dave start private pension by September 2013



So first steps to be achieved by 25th Jan 2013:
Halifax and virgin cc cancelled
Hubby halifax cc cancelled
Full financial review ( what we owe)
Update MSE sig
check total in deposit savings
£12,000 in deposit savings
£300 off overdraft - going to rejoin 1% at a time thread
£500 off my cc

MRSM1983

Well it's the 1st of feb and we've been working hard on our goals. Again as ever I always aim to high so haven't done everything on there but what we have achieved is:
£11700 in savings for a house deposit
Cancelled virgin cc and will cancel the Halifax ones next week - just waiting for a final statement
Debts are now at £34,250 and by the end of this months with be at
£33, 100 :-)
We are currently in the review process. We also checked both our credit score and we both have very good score :-)

So this month:
Hopefully £12,000 in deposit by the end of feb
Debts at £33,100
Halifax cc cancelled
Full financial review
Join 1 debt 100 days and start paying off overdraft

MRSM1983

Hey,

Well it has been 5 months since my last post and I am happy to say that things are heading in the right direction.

Debts now stand at £29,140 which for us is amazeballs. To get under £30,000 has been such an achievemenT and it feels good. So by December 31st the plan is for our debts to be no higher than £24,000. Then relistically we can have them cleared by 31st December 2015 and that is my DFD hopefully. Orginally wehoped it would be July 2014 but that just wasnt realistic by then we should ahve paid off £40000 which I don't think is bad going.

WE are still saving hard for our house and by the end of the month will have £15,000 saved and by christmas we should have our deposit. So hopefully we will be in or at least have an offer in by christmas. Fingers crossed.

I have also now got rid of both of our halifax credit cards. We now both only have our barclaycards which are intertes free for the next 15-18 months and we have not spent anything on them :j One of our in law loans also finishes in december and we got that 5 years ago and it was originally for £15000 so that feels brilliant.

The way I see it is by December 31st 2015 we will have our home which we will have put a 10% deposit down on and have been paying a mortage on it for at least 18 months. It was be decorated and fully furnished. We will then be debt free and what we want from that moment onwards WE WILL SAVE FOR!!!! That is going to become my mantra. We have come so far already though just that next big push now.

So targets for the next few months

By September 30th:
Deposit: £20,000
Debts: £27,000
Register with all estate agents
Book appointment to go and see the bank.

wish me luck!!!!!!!:)