I want to be debt free......

lisaburton

WOw its according to this its going to take me 98 months to clear my debts so I wont be debt free until at least 2014!!

but that is only with me paying an extra £150 month more towards my debts a month.

The months could either go up or down depending on if I get a larger payrise in april or if something happens and I lose money.

Now I have looked at that I am even more determined to get them paid off although its at least 98 months away there is some light at the end of the tunnel at last.

Thanks so much for that site its brilliant and I have printed of the table and am going to put it on my fridge so I can tick of each month as I go.

Thanks
Lisa

lisaburton

Yes thats correct I get £1100 a month every month. Then If its available I can earn on average an extra £400 a month on top of that.

the reason that I do not have an exact figure on how much the other things cost is because I dont buy them every month only when I can afford to (things like clothes) and my husband pays for my MOT and TAX yearly along with his.

lisaburton

Im going to start a diary of what I spend starting the 1st january because if im truely honest I havent got a clue what I spend each day.

Chriswil

Can your husband help pay off your debt? I must admit that I find the husband / wife money split quite strange. My wife and I are jointly responsible for all of our outgoings, have all joint accounts etc. No money is 'my' money or 'her' money...

raq

Personally I wouldn't put shopping on the credit card, you will tend to spend much much more. Just take the cash out . I have found this much easier over the last couple of months and also do a shopping list, this also helps myself. My bills have come down to £25.00 per week ( saving that is ).

Also, although you had awful trouble few years back how come credit card companies allowed you to have another card. What was your credit score then ??

lisaburton

I havent got a clue how I managed to get another 2 cards since my credit score is apualing. I was totally honest when I filled the applications in the only thing I can think is that it may be due to me having a secure job, homeowner etc. I havent a clue.

My husband also applied for a card at the same time and got refused.

As mentioned by another poster the reason we have his/her money etc Is because we have been together for 5 years and in the first two years we lived separetly as I was in the Navy. Anyway my debts are for things that I stupidly brought. Although we are now married neither of us see why the other should pay for the others debts if that makes sense.

example: My husband brought a flash car 4 years ago (one of those sucked up bmw's) within 6 months he was hit by a drunk driver and had to claim on his car insurance due to him only being 3rd party he lost out on about £5,000. The thing is I dont see why I should pay that debt of his I never drove the car, Didnt particulary want him to buy it in the first place.
My debts are mainly due to expensive holidays with friends whilst in the navy, extras that I didnt really need like clothes etc. My car and also repairs to my car when the head gasket blew.

All marrages work differantly and people all deal with there finaces in their own ways the way I see it is If I have a credit card bill for £100 that I used to pay for extras over a few months like magazines, lunches at work, clothes, going out etc. Then my husband has been really careful with his money why should he be penalised for what I have spent just because he is a saver and really careful whilst I am a spender.
Dont get me wrong when I have had trouble with paments etc he has helped me and but the his/hers money thing works for us. He wants something for him that he doesnt really need he pays with his money. I want something I pay with my money. The kids need anything we go halves or the house needs anything we go halves.

It workd for us

efrieze

lisaburton wrote:

All marrages work differantly and people all deal with there finaces in their own ways the way I see it is If I have a credit card bill for £100 that I used to pay for extras over a few months like magazines, lunches at work, clothes, going out etc. Then my husband has been really careful with his money why should he be penalised for what I have spent just because he is a saver and really careful whilst I am a spender.
Dont get me wrong when I have had trouble with paments etc he has helped me and but the his/hers money thing works for us. He wants something for him that he doesnt really need he pays with his money. I want something I pay with my money. The kids need anything we go halves or the house needs anything we go halves.

It workd for us

I totally agree. My husband and I have totally seperate finances so that if I want to be frugal one month and he doesn't, that is our individual choice. Then there can never be a time where we can stop each other buying the things we want. We both earn reasonable salaries. We both put the same money in 'the pot'. Our friends think we are crazy but we are both control freaks and don't want to hand over the control on our cash to each other.

Well done lisa for all your efforts so far.

lisaburton

Thanks, was beginning to wonder If we are the only ones out there that deal with our finaces this way. I spoke with my husband last night about my plans to clear my debts and he is really prud of me at the moment that I have actually switched on a realised that I have to pay them off.

What I am going to do as of 1st January is pay an extra £100 a months townard my debts including monthly payments. Im planning on snowballing it and just want to get started but cant at the moment a I havent been paid yet.

Any extra money left in the account at the end of the month I also plan to add to the debt.

Lisa

pudding06

do you know the apr's of the store cards? I suspect some of them will be very high and they will be fairly easy to pay off quickly with an extra £100 per month.
then you'll have extra to pay off the rest.

good luck with your snowballing. Are you planning on doing it highest interest first or lowest balance first.?

pudds

Serialdieter

Hi Lisa

Welcome along. We have separate finances too, we both put £x into the pot from our individual accounts. Whatever works for you is what I say.

Just a thought, why not start your spending diary now, as you say you have £80, so see where it goes.

Jx