£25,000 to clear. Ready...steady...GO

banwa

Thanks guys, we do feel like we're in a good position now. No big projects or expenses this year (it was Mr B's 40th last year hence the expensive Isle of Man trip for the TT), and healthy wages.

I think that is/was the main problem. We bought our house in the Bad Old Days of easy mortgages. We got a 97% mortgage with BOM deposit that actually now, looking back, completely overstretched us. We were totally overcommitted; neither of us are 'shopaholics' or spend needlessly particularly, but our wages didn't cover the mortgage AND our basic needs really. We got into debt in the first couple of years and then have never really got out of debt.

BUT for us, it worked out ok. We now can comfortable pay all our bills AND afford to pay back £1200 per month-ish, (oh imagine what it will be like to have that spare:j). But for all those poor souls who couldn't manage, and are now losing their homes, my heart goes out to them. You are right about getting there before we were outpriced, we are so lucky.:T

banwa

My sister still very poorly. She is on dialysis, my parents say this is temporary, please let this be true. Thanks to all the people who asked after her. She doesn't want any visitors, so I am getting everything from Mum and Dad. I will go up one evening when she does.

Feel sick every time I think about it. So going to try not to think about it until we know more.

banwa

ScarlettOHara wrote: »

When you have done your house Banwa what about tackling mine?

Discovered I quite like decorating, so let me know where and when:D

Knitting_Nora wrote: »

will help you be even more thrifty in the long run, because you're largely happy in yourself and your environment

I REALLY think there is something in this. It's all good for the soul which is a good place to be when tackling a big problem.:)

GreenSaints wrote: »

Me and my BF have another BOM loan (£30k!) which is all down to house improvements. We're slowly paying her back, but house renovations have stopped because we can't afford to pay for them! Swings and roundabouts really......

Not married or planning on being, but that figure seems quite low considering what you can spend on a wedding.

Needless to say, you have a fabulous home and had a great wedding, and you are sorting out paying for it now. Sounds like a good idea to me

It's all back to front isn't it? Normal people would have saved first. But if I'd done that I wouldn' have 'met' you lovely people:A

Not that you're all not normal;)

banwa

kerri_dfw wrote: »

Think how much happier you are now you have a lovely house I think you've done the right think. Debt is depressing, so living in a fabulous house whilst your paying it off is definitely the right way to go, and you got in there before the prices skyrocketed.

Actually you are quite right, if we'd saved, the house prices would have gone up and we'd have never got on the property ladder at all. There were still quite high at the time though (not like the peak), we paid way more than it should be worth. And it's worth now way more than it should be worth IYSWIM. God help the first time buyers now.

debtfreewannabe321 wrote: »

Wow at least you know where all your debt comes from!

Well that's where I am guessing the debt comes from. It might just be a long list of excuses. It makes me feel better anyway:D

Knitting_Nora

banwa wrote: »

Not that you're all not normal;)

*snort* Discovered! :rotfl:

banwa

Good Things about today:)

• Feel refocused on the MSE, spreadsheet and diary updated. Mostly caught up on all other diaries too
• NSD
• Hearing test at doctors says my hearing is perfect.
• Had a lazy day off
• £69 of payments made
• Email sent asking Cahoot for a refund. You never know

Bad Things about today:(

• Sister still v poorly. Worried

I am going to score myself on my MSE-ness (MSE-ness? MSEivity? MSEtion?) every day from now on

Today I give myself an MSE scoring of 8/10:D

banwa

Good Things about today:)

• First day of car share
• Am posting 2 days on the trot
• Did my frog (is that the correct terminology?), changed all the children's bedding, washed, ironed and put back on
• NSD
• Acknowledgement from Cahoot, I am reasonably impressed with that

Bad Things about today:(

• Sister still poorly. Still worried, but things have improved

MSE scoring - 9/10 for finally doing the car share and not just talking about it

banwa

Plan for reducing diesel spends


Car route = 10 miles (there is a shorter route but through lllooong queues) - takes 18 minutes
Bike route = 7.5 miles -takes 45 minute. This is 3 miles down Terrifying B Road (lots of traffic on skinny, potholed road, not nice), then 4.5 miles on lovely cycle track.

So here is my plan



Before clocks go forward

• Three days per week car share (M or Q driving)
• One day per week car share (Banwa driving)
• One day per week drive on my own so I can shop (Friday)

Reducing work milage from 100 miles to 40 miles




After clocks go forward

• One day per week car share (M or Q driving)
• One day per week car share (Banwa driving and this would need to be a Friday because that is my shop day)
• Two days a week drive down the scary road (3 miles) with bike in boot and cycle 4.5 miles down cycle track
• One day per week cycle the jfull route

Reducing work milage from 40 (or 100 originally) miles to 32 miles. And increasing cycle miles from 0 to 28

Really pleased that there are now three of us going to car share, so even more chance of saving money.

Every day that I manage not to drive to work saves me £2.80. So I should be able to save around £40 without much trouble:T

debtfreewannabe321

I love the new MSE-ness scoring

And :smileyhealots of get well vibes to your sister :smileyhea i hope you hear some good news soon xx

Itsadogslife_2

Hi Banwa,

So so sorry to hear your sister is so poorly Such a worry for you. Big hugs to you and your family.

I think it is a really good exercise to see where the debts came from in the first place. At least you can see where the money has gone and you have some lovely things to show for it. Your house sounds lovely - there are parts of my house that I really dislike, my spare room has a really bad mould problem above the window (I don't think I am helping by trying to not use the tumble dryer and drying on the airer instead - creating more moisture!). And I dislike my hall stairs and landing as it has grubby marks up the wall where DD has grown up from 6 months to 7yrs since we have been here and this is like her own special grimy height chart. When I decorate, I will be doing it in a vinyl wipeable paint this time

But being in debt has it's good bits - US LOVELY PEEPS :T (looking on the bright side )