The "Pay ALL your debt off by Xmas 2012" challenge - PART 2!!!

xoxo_2

jakes-mum wrote: »

not crap . . . its hidden treasure when your ebaying :rotfl::rotfl:

Oh yeah:rotfl: My wonderful, delightful piles of hidden treasure:D

jakes-mum

camuk81 wrote: »

Well the day, checked my emails this morning and some property I had been left by a family member is going to go through.

At this point you are probably thinking jammy cow why is she rubbing it in, however the problem is having only had my lightbulb moment in November I know I'm going to slip back into my old ways.

I know some people have savings to counter loans etc (Jemma been watching your loan bits with intrest) so here goes, do I pay off the biggest/ highest apr and keep going on with trying to push toward the debt free, whilst saving some money in the bank and really learning what a budget is!

Yes pay off your high rate debt and Save Save Save!!! Try to think of your savings as not your money, its the mortgage mans money or the deposit mans money or the babys college money (sorry cant keep up with who's got kids, wants kids etc) to help with budgeting. Both my kids have ISA's in their and my name and no matter how broke I was I never touched it as it was always called 'the kids university fund' (had a sister who turned round and said at 14 'mum, dad im going to be a doctor' and watched them struggle for her entire college/university years as they had no savings for it :eek:)

jakes-mum

xoxo wrote: »

Thanks! I'll give it a go:D Extra cash and 'payday' tomorrow so worth a go I think. :j

Anyone here got a referral to use for the one on quidco?:j

I rememebr Psychopathbabble posted on the referals thread that she had joined. She used the same user name

rdchick

camuk81 wrote: »

Well the day, checked my emails this morning and some property I had been left by a family member is going to go through.

At this point you are probably thinking jammy cow why is she rubbing it in, however the problem is having only had my lightbulb moment in November I know I'm going to slip back into my old ways.

I know some people have savings to counter loans etc (Jemma been watching your loan bits with intrest) so here goes, do I pay off the biggest/ highest apr and keep going on with trying to push toward the debt free, whilst saving some money in the bank and really learning what a budget is!

Personally I would pay off and close all that I could with the new money... I have a very bad impulse level and money burns a serious hole in my pocket! I know what you mean about learning to budget and save and stuff but I know in my heart of hearts I won't do it even though I have the best intentions to!

Love to know what others think xxx

rdchick

jakes-mum wrote: »

Yes pay off your high rate debt and Save Save Save!!! Try to think of your savings as not your money, its the mortgage mans money or the deposit mans money or the babys college money (sorry cant keep up with who's got kids, wants kids etc) to help with budgeting. Both my kids have ISA's in their and my name and no matter how broke I was I never touched it as it was always called 'the kids university fund' (had a sister who turned round and said at 14 'mum, dad im going to be a doctor' and watched them struggle for her entire college/university years as they had no savings for it :eek:)

This is true, can tell I don't have kids, didn't even think about the future!

As for money for kids education my mum and dad couldn't help me through university (but I also didn't ask them to) all they could do was put me up rent free, feed and clothe me - it's all I needed but was lucky enough to have a university that did the course I wanted to do on my doorstep (well 20 miles away) - still moved out in my final year... BIGGEST MISTAKE OF MY LIFE and it's why I am here!

Savings are great! :rotfl:

xxx

jakes-mum

rdchick wrote: »

This is true, can tell I don't have kids, didn't even think about the future!

As for money for kids education my mum and dad couldn't help me through university (but I also didn't ask them to) all they could do was put me up rent free, feed and clothe me - it's all I needed but was lucky enough to have a university that did the course I wanted to do on my doorstep (well 20 miles away) - still moved out in my final year... BIGGEST MISTAKE OF MY LIFE and it's why I am here!

Savings are great! :rotfl:

xxx

We have cambridge univeristy on our doorstep so my sister decided to go to university at . . . . St Andrews Scotland :eek::eek: We still say she was trying to put as much distance between herself and us as she could :rotfl::rotfl:

I moved out at 21, but then again I was pregnant so believed I was fully ready to live in my own home and pay my own bills with (now) DH. Oh I laugh now at our constant moaning about our £200 mortgage . . . . only a 1/4 of what we pay now :rotfl: and I can promise our money hasnt quadrupled :eek: still have no idea what we spent all our cash on

rdchick

jakes-mum wrote: »

We have cambridge univeristy on our doorstep so my sister decided to go to university at . . . . St Andrews Scotland :eek::eek: We still say she was trying to put as much distance between herself and us as she could :rotfl::rotfl:

Haha! I wanted to go to Canterbury... until I went there on an open day :eek: ! Oh how things would have been very different had I gone there! I miss home too much, moved out now and live 25 miles away from my mum and dad, 25 miles is too far sometimes!

jakes-mum

rdchick wrote: »

Haha! I wanted to go to Canterbury... until I went there on an open day :eek: ! Oh how things would have been very different had I gone there! I miss home too much, moved out now and live 25 miles away from my mum and dad, 25 miles is too far sometimes!

my mum and dad live 5 minutes away in the next village I see her about 4 times a week

mf0u1098

camuk81 wrote: »

Well the day, checked my emails this morning and some property I had been left by a family member is going to go through.

At this point you are probably thinking jammy cow why is she rubbing it in, however the problem is having only had my lightbulb moment in November I know I'm going to slip back into my old ways.

I know some people have savings to counter loans etc (Jemma been watching your loan bits with intrest) so here goes, do I pay off the biggest/ highest apr and keep going on with trying to push toward the debt free, whilst saving some money in the bank and really learning what a budget is!

If you are at all concerned about whether you'll go back to your old ways then the best thing to do is keep trying to become debt free as any savings will be at a lower APR than your debt (assuming they are not all on 0% credit cards). If in any doubt then don't bother with savings until you've no other debt.

My situation was a bit different in that I knew I wouldn't go back to my old ways, I just hate HSBC so much and I've had this particular loan for 6yrs so far and the thought of another 2.5yrs made me feel sick. I too have been slightly concerned at what will happen to all the surplus that I'll have once all my debts are gone but that's when i'm going to have a new goal of saving for a house so that I don't go back to my old spending ways.

I personally think you are stronger at paying off your debt than you think and you need to be proud of the changes you've made since November. Believe in yourself! :A

jakes-mum

Oh talking about what we will all do with our surplus, I was having this convo with DH on the weekend (by convo I mean lecture :rotfl:) and he agrees with me that out of the £350 a month we pay to debt :eek: £250 a month will be going into the ISA to save for each years holiday for all of us, £20 a month needs to go into a pot for DS's bus pass if he gets into the non catchment school and then £40 each for us as play money (he wanted £100 :eek: :eek: as if! :rotfl:)