Getting it before it gets me

klfairy

Between us we owe:


Me Overdraft £2,000.00
OH Overdraft £2,200.00
Me CC £1,865.16 - Target March 2015
OH CC 1 £3,300.00 - Target January 2014
OH CC 2 £400.00 - Target March 2012
DWP £144.00

TOTAL DEBT £9,909.16

My current plan is to pay OH CC 2 off first because it's at 34.08% APR. 4 months at £120 and it'll be gone. I think this will be March 2012. Other payments will be reduced while this is paid off.

Then I will move on to OH CC 1. Not sure of the APR because I can't find any documentation for it. "About 16%" is what I've been told.

I need to know what the APR on OH's overdraft is. My overdraft is charged at a flat rate of £1/day regardless of the amount. I need to get on to Halifax and see if they can suggest something helpful.

I think we could raise £200 or thereabouts from selling things on ebay. Any money raised will go straight to the highest priority debt.

I don't yet know when we'll be debt-free. 2018 is a rough guess, but it really depends on a huge range of factors.

klfairy

I gave OH the outline of a plan of action. He looked horrified when I said I estimated it'd be 2017 before we'd be debt free. I thought that was quite good really and was a bit disappointed he wasn't chirpier. To be honest I think it could be a lot faster than that, because his monster loan is due to finish in the Spring/Summer of 2016. That will free up over £200 per month which we can use to clear off whatever we're still paying at that point.

Today's debt-related goal is to investigate this Quidco thingie.

Things are complicated here. I suspect everyone has reasons why their lives are complicated though. I'm currently off work (very long and stressful story) and this means that I either drop down to half pay in a few months or find a new job, which is further complicated by the fact that I have kidney failure and will need a transplant in the not-too-distant future. When not at work my kidney function seems stable at around 18%, but in work it drops to a frightening 13%. Hence being off. I'd like to say more about the work situation, but it would be unwise. I'd love to have a good rant/moan, but I don't want to be fired. Although that's on the horizon possibly too, which is further part of the massive complications.

Anyway, my intention is to pay what we can when we can.

What I'm really looking forward to is our wedding We're getting married in December next year. In a "sensible" world we'd delay the wedding until the debts are clear, and would be able to clear them faster if we weren't putting money aside for the wedding. In the real world, we're not getting any younger (I'm 36 and OH is 40) and the longer we leave it the more likely it is that I'll be a dialysis bride. I do not want to be a dialysis bride. I also have this idea that I want to be married when I have a transplant.

I really am a novice at this money lark. I've got a SOA and a budget and endless spreadsheets... it's just sticking to it and keeping control of my OH that's the hard part!

inthegreen

It all sounds a bit stressful indeed. Is there any work you can do without affecting your health?

Could you get married in a registry office and once you clear your debts save for the party etc and have a blessing?

Good luck

klfairy

Hello inthegreen Our venue is already booked and very special to us. It's the one non-negotiable aspect of the wedding!

I've joined Quidco, although yet to work it out.

I've planned our week's food, and using the clubcard vouchers in my purse and taking advantage of the reduced bin (which I always call the recycling bin) it cost me a tiny £4.72. Feeling rather chuffed.

Jobwise I've found a wonderful job that's totally ME and although a bit less money than I make at the moment, well worth it. Much less strain on my health too! I now need OH to keep Toddler out of my hair for a while so I can fill in the application.

Feeling very positive today

klfairy

Little bit concerned about dragging OH along in the moneysaving wake... he's a total brand snob and will ONLY have coca-cola, smokes (although he's on roll-ups now) and seems rather reluctant to tighten his belt. Now he's announced he needs new jeans, new shirts and a new suit for when he starts his new job in January.

Help!

findingmyownway

Welcome to the boards. Commiserations regarding CKD - I have experience of dialysis so if you ever think you'd like the benefit of other's experience then feel free to PM.

Agree that getting rid of the debt needs to be a priority pre-dialysis, but I do understand the emotional side of you wanting to be married before fighting that battle. There is a good wedding forum on here which will be able to give you advice to keep wedding costs down.

klfairy

Thank you findingmyownway. I have trouble explaining it myself sometimes! Have you found your way?

chevalier

hi there just a quick note to say welcome. if youbgo to the debt free wannabe part of the forum there is a thread for first time posters there which has a link to a soa ( statement of affairs) maker. you can fill this in and it will give you a true picture of your income and outgoings. I am sure that if you do this it will help you and your OH on where you need help.

ref OH being a brand slob, just swap them without telling him! if he notices that particular thing then fair enough, but i am guessing that if he doesn`t see he wont really notice.
ref the ` new clothes` your oh needs well tell him to go to the charities shops! plenty of good stuff in there .NEEDS MUST WHEN IN DEBT.
chev

klfairy

I have made a complete hash of the SOA several times. I get a bit tied up with it because things are up in the air with me not at work and OH starting a new job in January. I can do *now* but it's not a picture of it should be or how it will be in January, which may still not be how it should be. I don't really know how to fill it in for the best. Plus I don't know (and can't find information about) some of the APRs on OH's debts. I'm not sure of the APR on our mortgage either.

I have to confess that part of the problem is that OH and I are not naturally tidy people, so the information is probably not being deliberately concealed, more likely that it's hidden under a heap of other things. Of course, he's not a good opener of post, which doesn't help. I usually find a stash of letters every month or so, unopened of course.

klfairy

Yesterday, apart from reading things on here and joining Quidco, I basically did sod all. I have a tendency to an All-or-Nothing approach, and I'm mostly in a Nothing phase. The All phase has its downside as it tires me out very quickly, which means I really need to to ditch the old way and aim for the knitted cardigan of moderation.

I am armed with my kitchen timer and will work at whatever's on my list for 15 minutes before resting for 5, and repeating until the monstrous mess looks vaguely tamed.

Now, Small Boy, where have you put the kitchen timer?

klfairy

Today's MS jobs: phone the bank *sigh* and downgrade my account to a normal, free (apart from overdraft fees) one, and set up a wedding savings fund. Must also pester OH to find out what the deal is with the HP on our sofa. I hope it's 0% (might actually be 0%) and at a guess has 3 more years to go on it. It was in his name and I know he missed a few payments.

I feel like everything has to be in my name from now on if I want it dealt with properly. He's fine when everything's fine, but otherwise is a bit ostrichy.

I've made a good start on the housework today. I like to take DS to the SureStart centre on Wednesdays for a play session. It's good for him and he enjoys it (but the hokey-cokey makes him cry) but it wears me out. I feel bad skipping it, but there's no way I'll get anything done for the rest of the day if I go. I very much doubt I can talk OH into taking him instead, because he's still in bed (back to bed after being up early with DS) and would need to leave in 5 minutes.

Ho hum.

Positive steps so far: joined the SPC, I know EXACTLY where we're up to with money (barring the APR on a couple of things) including precisely how much is in my purse (£4.46). I have meals planned for the rest of the week.

I've not had a drink since the weekend and nor has OH. I'm not a big drinker, but I usually do have one or two in week. I intend to have an alcohol-free weekend too. OH had a terrible hangover on Sunday so hoping he'll be dry this weekend too! I'm hoping today with be a NSD too.