Elmer's moneysaving mission

LianneH

ElmerFudd wrote: »

On the plus side only have £390 left to pay on the loan, and it's payday tomorrow!!!

wont be long til thats gone then! :j

ElmerFudd

LianneH wrote: »

wont be long til thats gone then! :j

I can't wait! Trouble is my student loan payment will start again soon (unless I can defer it), so I'll probably just be left with £40 extra a month . If I can defer it I can get all these bills paid off fairly rapidly.

LianneH

£40 is still £40! fingers crossed you get the student loan defered but if not at least the loan will be paid and you have forty quid to throw at something else!

ElmerFudd

Good news. Just learned I'll be getting an £800 odd a year payrise - starts next month. Not sure what that will work out to after tax though.

Edit: worked out it's probably about £40 extra after tax a month! Supposedly getting another £40 a month rise the following month but I'll believe it when I see it.

LianneH

thats great news - any pay rise is welcomed these days!

ElmerFudd

Haven't been on here for a while. Turns out I did get the pay rise! I'm not sure yet if another one is definitely coming next month but it's all good.
On the down side I will have to start paying back my student loan soon, but on the plus side I will have paid off all of my bank loan by the end of next month. All being well I'll have an extra £30 to £40 from that to go towards debt etc.
So hopefully I will be able to pay an extra £70+ a month towards everything.

*Really hoping my pay goes up again next month - potentially it could be another £40 a month. It will mean all the difference*

ElmerFudd

This time next month I will begin repaying my student loan. Thankfully I have been able to defer it and by rights should be able to afford it. The final bank loan comes out in about 10 days time.
Looking forward to not having to pay that.
Unfortunately it looks like the student loan payments will be about £5 more than I was hoping so I will only have an extra £25 a month.

All told then an extra £65 a month minimum from where I was 2 months ago. Additionally the student loan will start to get paid off.

Sadly I haven't overpaid now on one of the credit cards for a number of months so still have roughly £600 to pay on it.
I'll have to do a proper budget sheet at the end of the month once I know for sure exactly how high my pay has gone up.

Additionally the first thing I want to do once I have money is pay off the overdraft. That should save me at least £30 a month.

I only owe £8400 total on the student loans. My other debt is well below £24000, which is only down £9000 from 20 months ago though!!!

Keep on rocking.

ElmerFudd

By this time Monday (maybe even tomorrow!!!) my final payment to my bank loan will be made. Pretty excited about that.
I'll also have some sort of idea whether or not my pay has increased again. I'm not holding my breath but fingers crossed!!!
Once I'm clear on things I can work out an effective budget. Either way things may be a little tight the next few months. I have to start paying back my overdraft and may have to juggle things.

I'm hopeful.

ElmerFudd

Payrise hasn't occured. If it's going to happen again this year will have to be by the end of the month. If not- oh well. On the plus side the loan has apparently been paid off. I will need to chase up the bank for a letter saying the account is now closed but other than that it's all good!

LianneH

hey elmer! I've not been on in a while, newborn baby taking all my energy! good news on the loan being paid off :-) so which 'debt' are you targeting next?