Blinded by the LBM...!

Beencounting

My latest T3sc0 statement has just been produced and my balance is now £1080, reduced from over £4,000 at the beginning of the month :T. I'm really pleased as I expected, with interest, for the balance to be nearer £1,125 .

My monthly minimum payments are now £38 from £82, and interest has dropped from over £70 a month to £28 .

Needless to say I'll be aiming to pay more than the minimum each month, but it's such a relief to see the impact the large payments have made this month .

Thinking ahead, I have cashback due from DDs phone - £125, insurance refund - £237, payrise, not sure exactly how much, but say - £35 per month. Then early next year, two months with no community charge (or whatever they call this tax now) - £200, and then two months with no subs for OH and Ds - £160.

These things, along with monthly overpayments could see the balance cleared by next May...or even April if I work hard at it!!!

I'm getting carried away now, but it feels good to see the balance drop so much

Been

Beencounting

Thanks all for the lovely comments on the payrise

Beencounting

Well I've been back about 1/2 an hour from the Sunday morning drop off ritual which has now become the reality for my Sunday mornings . I was up at 7.45, out by 8.30 to drop OH and DS at their club, then back home, managed to grab a cuppa before taking DD to work. I've chucked a load of washing in the machine and am now sitting with a cup of coffee and MSE . Sorry if that sounds like a whinge, it's not really meant to. I think I need to apply Banwa's costings to the time spent (wasted ) versus being in debt of this activity to give it a more positive slant.

On the plus side, it's also a chance to catch up with DD for a bit as being a teenager, she's not often talkative .

I have a few things I need to do today:

• catch up on all my subscribed threads
• check bank and update spreadsheet
• review spends
• lots of boring domestic stuff...which will keep me busy and away from the shops
• review budget for next month (payday just over a week away)

Right, off to catch up...

Been

banwa

Oh Been, you are being vey brave about this whole car thing. I'm not sure I could stand it. Still there are hundreds of families that manage with one car so it must be possible. But you have my utmost admiration.

I salute you:D

hillside777

Sounds like you've had a busy morning.

You've doing very well, especially leaving home earlyish on a Sunday morning OK, so there may not be a word earlyish, but could not think of anything better. :rotfl:

Keep up the good work, I know you will, and enjoy your day.

scotdebs

Early start to a Sunday for you Been... but look at what you have achieved on the Te3co balance great job!!

Beencounting

Thanks for your support, folks, I really do appreciate it :D. It's not easy and I soooo want to give in and get another car, but I must hold out for as long as possible.

Banwa, I've taken a variation of your idea....

as a direct result of selling the car, we paid £2,995 off the CC. My monthly payments were £80. So on this basis it would have taken me a minimum of 4 1/2 years to repay (assuming current interest) :eek: and that's without tackling the other debts....:eek::eek:

So I'm 4 1/2 years closer to being debt-free .

Onward and upward!

Beencounting

I've reviewed my monthly CC repayments this morning, now that all the payments for the month have gone and the statements are available. In October our minimum payments were just under £1,030 :eek:, which are not sustainable in the long run. We've really been feeling it this month with the lack of food in the house and the petrol budget is overspent too.

Part of the problem is that October's a five week month, so I'm looking forward to a four week month in November which will ease things a little .

Anyway, I've plugged my new balances and minimum payments into my spreadsheet, and our monthly CC payment for November will be £938ish (maybe be a little less). This is a big difference on last month . I've allocated this difference as £12 overpayment to target card, extra £20 to food and £15 to petrol, and an extra £10 to DD at uni. I was already looking at an overspend for November, so the rest has just been absorbed . These changes along with a 4 week month should make things a little more bearable . Just need to get to the end of this month first :rotfl:.

On another note, we lost Sky yesterday, our final payment having cleared the bank. There was a distinct mood in the air when this happened . I think it's going to take OH and the mini-Beens a little while to get used to the freebox. I'm not especially bothered as I don't watch much tv anyway . Will need to watch this space!

Been

Skintfoodie

Losing the Sky will be tough at first, but the Been's will all get used to it!

banwa

We need to keep telling ourselves, these sacrifices, they're not forever. Anyone can endure anything for a while :cool:

That's what I keep telling myself anyway

*Grits teeth and smiles*

:rotfl: