Diary with an end.....31.12.12.....

Choc-addict

May2013 wrote: »

Just dropped by to say well done on clearing a great big chunk of debt already and to wish you luck on the rest of your journey - you sound very focused so I'm sure you'll do well.

My goal is to achieve a DF status by 31.12.12 too and like you I will also be factoring in a wedding next year, although in my case I'll be mother of the bride

Exciting times for you in the year ahead - Good luck x

Thank you May2013. How exciting being mother of the bride! I hope the plans are going well. Will pop over and take a peak at your diary a bit later.

Seems there are a few of us hoping to be debt free by 31.12.12 - can't wait!! x

Choc-addict

Ok plans are still coming along nicely, seems we're on a mission as a couple to sorting out our lives (financially) and I for one am very very excited! Oh has an appt at bank tomorrow to go through policies, savings accounts etc to ensure we have the best we can.

On that note, for those that don't know me, OH has a really good credit history, very litle debt. I on the other hand through a combination of a rather pathetic, sneaky ex and family members i've helped (as well as myself, not blaming others honest!) managed back in 2007 to amount to 64k ish of debt. Now this was fine when I was contracting, receiving regular money from those that owed it to me but then the tables turned the ex disappeared leaving me with, lets just 'thousands' of £'s of debt (none of which I contributed to) that I helped him out by taking out a loan and cc'ds (silly me)....my parents (separated) both fell into trouble work wise and then my contracting stopped. Basically = NIGHTMARE and then the dmp route with payplan which then due to problems with them and payments having to take it all on myself and deal with my creditors myself.... phew! Brief but needed account of the situ and how it became....

Anyway, going back to present life....we need OH to maintain fab credit as he's the only one that can get reasonable mortgage rates etc etc. We won't have any joint accounts in the sense of both our names on it....however we do share I finances, have a household account which we both pay in to and work together as a team to ensure we can lead a relatively nice lifestyle, not flash by any means but one we're happy in and can move forward comfortably.

This brings about the clearing debts, money makeover, sorting ourselves out....we have a wedding to pay for in April 2012 and I want to clear my debts by the end of 2012 and hopefully (all being well) we can think about perhaps starting a family as I will be 34 next year and don't want to wait too much longer. As others have said, very very exciting times ahead

You are probably thinking 'quit your jibber jabber' by now....I can yap for ages .....so back to money plans.... OH and I are going to start a weekly cash budget for each of us. I work from home so can keep it relatively low and am starting at £50 per week to cover my half of food costs, petrol and anything else. Should be doable and I will take the cash out (by walking to the cash point at local shops :money:) every Sunday evening and that will be all I have until the following Sunday evening. Basically i'll have to start thinking about what I am spending which, lets face it, is part of why i'm in this mess in the first place! By doing this it will allow me to pay £300 towards the wedding savings each month and leave me with a buffer in my account of around £50-£100 per month if I don't account for anything. Anything left at the end of the month will be split between my savings accounts (which are not really savings, more like forward planning i.e. xmas, bday, car) and overpaying debts. Once the wedding is over i'll be so used to saving £300 per month that I will then throw this at the debts too therefore clearing them by over £1k a month.

That's the plan, will be logging spends here. Now next plan of action is how to clear this debt quicker. Think it'll have to be some serious cutting back and offers of settlements if they'll play ball.

Right enough from me and my mammoth post!

Choc x

Choc-addict

Been awol for a while - time off work, camping trip in snowdonia amoungst other things.

Had a fab time camping, very cheap but very much enjoyable. Who needs holidays abroad when you have the most spectacular scenery here in the UK eh?

So money front has started, I am on a strict budget of £50 per week. Taking out on each Friday (coincided with pay day this mth) and so far it's going ok. OH is doing the same with his finances - we're hoping it'll make us more aware of what we are spending but also not to keep switching something when we need too. It's 4 weeks exactly between pay days this month so makes things easier. Next month it may end up being a 5 week month but we'll assess that when we need to.

Total debt after Aug payments = £31,588.33 ..... i'm really pleased with this as I now know that it'll be sub 30k before the end of the year based on minimum payments alone. Another milestone reached. Hopefully it'll be considerably lower than 30k but we shall have to wait and see on that one.

Right, back to work for me. Researching possible weekend jobs at the moment, just need to weigh it all up.

Choc x

Choc-addict

Gosh i'm rubbish at writing on my own diary - good at others but just not my own

Been a busy couple of weeks but happy to report that my £50 per week budget is working out so far. Been tough but has to be done and I kind of like knowing that I am not wasting all of my money.

That said, this morning the post has arrived an we have to re-look at our joint household finances. Prices are going up, maybe time to switch to a different provider - will start looking into that. We were very lucky and my Dad paid for a job lot of food shopping at the weekend to help us out, he's so great like that.

I have put aside £400 from my wages - majority of this will be going to the wedding fund but a small % I want to keep back for debt overpayment too. I'm finding it hard to balance it all - never know what best to do but at the end of the day I know come Feb/Mar there will be balances to be paid for wedding so have to concentrate higher amount to the wedding account at the moment.

Need to get back onto payment a day - albeit a small amount it does make a difference. I will leave this at my Lloyds CC as it's highest interest and second highest balance also. Other highest balance is on nil interest. I'm half tempted to up all my debt repayments a little but there is part of me that thinks keeping back in case of emergencies etc is a better solution.

Hey ho, all these ideas and i've no idea which way to turn....got to take is slow and methodical. All or nothing never works for me, these have to be lifestyle changes, I think for next montha gain i'll concentrate on the £50 per week budget - this is helping.

On another plus side i'm doing so well on exercise front - can't tell you what a diff it is making both mentally and physically. Long may it continue! Have joined a netball team too - social and fitness

Choc x

Choc-addict

£1.39 overpayment to dreaded Lloyds CC

Choc-addict

Mini to-do-list...

• Continue to eat healthy for rest of the day (so far so good!)
• Attend netball training session this evening
• Start working out/looking at wedding invite costs and ordering stationary to make them
• Quick spruce of house and small washload
• Check OH has emailed wedding band, sorted utility payments
• Organise visit to wedding venue

Lots of little bits, main bits to be done over next few days but jotting them down to remind me!

chevalier

you sound like now you are super organised, it should all fall by the way side easily.

If these debts are quite old, is it worth asking some of the creditors about full and final settlement prices? If you could write off some of the debt it would make your DFD more doable perhaps?
chev

Choc-addict

chevalier wrote: »

you sound like now you are super organised, it should all fall by the way side easily.

If these debts are quite old, is it worth asking some of the creditors about full and final settlement prices? If you could write off some of the debt it would make your DFD more doable perhaps?
chev

Thanks Chev, funny enough I was thinking about settlements just yesterday. I'm going to start a debt repayment pot and save as much as poss for settlements. I have a couple of lowish ones, around £500/600 each so I could aim for those first.

I have also been thinking about putting up my payments to see if that'll help. Just need to be precise with my budget first!

Choc-addict

It's Friday :j:D

So mini list for today -

• Do two washloads and dry outside in this glorious sunshine
• Body pump class at gym
• Eat sensible
• Overpayment to debt (no matter how small)
• Continue with spruce of house

Idea is that house is sorted by end of play today so that OH and I can spend some time together tomorrow. Vary rare we have a day off together (albeit it has to start work at 9pm ) but I am determined our day off will not be spent cleaning or sorting! I'm thinking more like a nice walk in the sunshine

Choc-addict

Update...

• [STRIKE]
  
• Do two washloads and dry outside in this glorious sunshine
• [/STRIKE][STRIKE]
  
• Body pump class at gym
• [/STRIKE]Eat sensible (so far so good)
• Overpayment to debt (no matter how small)
• Continue with spruce of house