Pinot's Potty debt free journey!!!

PinotGrigio41

Happy that percentage is great news. Well Done you !:j

Dont apologise, diary wasnt hi jacked, and we all learnt how to do something new, well those of us whose school days are a far distant memory at least !

Thankyou so much for the facebook link thingy. It sounds really interesting, and I will definately take a look and show it to the girls. Much appreciated !

Have a good day xx

PinotGrigio41

Hopelessly_Hopeful wrote: »

Re calculation - I think the easiest way to do it is (I am a simple soul)

Amount outstanding now (divided) by amount outstanding at the start (times) 100 (divided) by 1 = %Amount still left to pay from original balance. So logical tells us we can take that number away from 100 to see what we have paid off rather than what we owe.

So Happy, for your unsecured debt, 69225 / 69579 X 100 / 1 =99.49% to pay or 0.51 paid off.


Hope that helps. Please don't be embarrassed if anyone can't work it out, we will just find another way to explain so please shout up. We are stronger together and all that

Try not to be disheartened by 0.51%. when was the last time you saw a reduction rather than an increase. It will gather momentum but will feel slow at the start. My debt went up by 2.5% at the stage you are at Happy, 21 months in I am now at 40%. I try to focus on celebrating minigoals as this keeps me going. Ever the hopeful one I set up a simple excel spreadsheet (I can't really do formulae just basic add up sum and didn't even know how to do that at the start so did it manually). What's really great is that I predicted creditor balance for each month upto the end of the DMP. I alter as neccesary each month and chip away at the balance .




HHx

Thankyou HH. Your percentage reduction is amazing after just 21 months. Well Done !

It seems that everyone has their own slightly different way of working it out, as long as the end result is the same thats fine !

Hope you are well x

kerri_dfw

Pinot, I confuse everyone on FB by putting random status updates My friends are convinced I mostly live in the hills of Wales, have gone completely vegan and only eat baked beans When in actual fact I live in London, love cake too much to be vegan and eat lots of other yummy things aside from beans...however when my friend I'd not spoken to since about 9mnths ago said "how's life all I know from your FB is wales, beans, vegan" I had to chuckle and felt rather pleased with myself

PinotGrigio41

Bit late in the day for this but:-

Plans for the day are:-

Go to post office and post yesterdays letters to Westcot & MBNA - DONE !!

Pay very very overdue Water Bill - DONE !!

Chase refund off DD2's missing returned Converse. - Done, getting nowhere !

Put Fuel in my Car as Ive been driving around with it in the red for 2 days !- Will only half fill as is now £100 to top up completely. Gas guzzler that he is ! Mr Pinots has his car which I use when I can and is far more economical, but I have alot of driving to do today, so needs must - £50 half filled the tank !

Think about dinner Chinese takeaway is sounding tempting, but I cant and I wont !!:) - LEFTOVERS !

Buy some food cant really be bothered to do that, far too cold outside ! - NOPE STILL NOT DONE THAT !

Sort out money - We have only received half of what we need to get through the month so far. Although enough is due in it will be in bits and pieces, so I am finding it difficult to budget properly when we dont actually have the money in yet. Still need to put fuel in cars for work, and pay train fares and hotels for overnight jobs. I need to put a plan of action into place, I am determined not to touch my emergency of F&F funds, but dont much feel like doing it today for some reason, but that wont resolve the problem will it?!! SORT OF GLANCED AT IT !!

Sooooooo...... I will dust myself down and get on with it and report back later if Ihave actually done any of the above !!

15 watchers now on ebay item

PinotGrigio41

kerri_dfw wrote: »

Pinot, I confuse everyone on FB by putting random status updates My friends are convinced I mostly live in the hills of Wales, have gone completely vegan and only eat baked beans When in actual fact I live in London, love cake too much to be vegan and eat lots of other yummy things aside from beans...however when my friend I'd not spoken to since about 9mnths ago said "how's life all I know from your FB is wales, beans, vegan" I had to chuckle and felt rather pleased with myself

Sounds perfect to me :rotfl:Keep them guessing !

My friends think I have emigrated I think, by refusing to go on facebook and keep in touch with any of them ! I did join Twitter in July last year much to my girls amusement, but the only people I said I would follow were One Direction (for the girls , obviously !!) I have not logged on since .

On another note, SAAC posted earlier on the DMP Mutual Support Threat the following link.

For anyone who hasnt seen it, makes very interesting reading !

[FONT=Calibri, Verdana, Helvetica, Arial]http://www.guardian.co.uk/money/blog/2012/feb/07/cccs-callers-60m-debt-mountain[/FONT]

kerri_dfw

what does F&F mean?

Shelski_2

Hi Mrs PG

Don't know if this will help or not in the future when things aren't as tight, but our accountant told us to have a separate current account as an 'expense' account. This account has a float of £200/ £250. The expenses such as accommodation, meals etc that you claim as business expenses get put into this account. In the books this is where the 'petty cash' is. Mr S then pays for any expenses with this money and gets reimbursed from the business straight into this account. It has really helped us to keep the business and home accounts separate which you really have to do with a ltd company.

PinotGrigio41

kerri_dfw wrote: »

what does F&F mean?

Its my Full and Final Settlement Fund I am trying to build up if I can, so that I can make some offers to the predators sometime in the future, otherwise I will be old and very very greay by the time these debts are paid !! I put any odd change, ebay money etc etc into it.:D

kerri_dfw

PinotGrigio41 wrote: »

Its my Full and Final Settlement Fund I am trying to build up if I can, so that I can make some offers to the predators sometime in the future, otherwise I will be old and very very greay by the time these debts are paid !! I put any odd change, ebay money etc etc into it.:D

Thanks Pinot I was contemplating suggesting something similar to OH for when he starts work and needs to repay his £10k :eek::eek: Although have also contemplated throwing what savings I have then at it and starting our house fund from scratch and he has to put double in for 5 months I doubt he'll like the 2nd idea as much.

Skelski, that's a grand idea I might nab that for when I start my new job and have to expense my travel/food/hotels/etc

PinotGrigio41

Shelski wrote: »

Hi Mrs PG

Don't know if this will help or not in the future when things aren't as tight, but our accountant told us to have a separate current account as an 'expense' account. This account has a float of £200/ £250. The expenses such as accommodation, meals etc that you claim as business expenses get put into this account. In the books this is where the 'petty cash' is. Mr S then pays for any expenses with this money and gets reimbursed from the business straight into this account. It has really helped us to keep the business and home accounts separate which you really have to do with a ltd company.

Thanks Shelski, thats interesting. Our personal and business accounts are totally seperate and we aim to pay ourselves personally £4000 a month and then obviously fuel, hotels etc are paid for from the business. Ive only been able to pay us half of the required amount so far this month. We will get it sorted but it may take a bit of juggling that I'm not int he mood for dealing with today ! Unfortunately the business is slightly depleted at the moment, so it cant afford to pay us what I need to also make sure there is enough in there for the expenses above. Since my LBM we pay ourselves less than we were having too as our min payments to creditors were £2500 a month, so the business will start to built back up again luckily. January was a quiet month so we are just waiting for the money to dribble in again, so all will be good but its just a bit of a waiting game as these things are !!