No idea how I got here but need to get out of this place!

missrlr

So following confession time the current household debt currently stands at a gobsmackingly outrageously huge::eek:
Halifax £10813.50 - finishes August 2016
Mortgage £120300 - repayment Due March 2037
Mortgage £205000 - interest only Due Sept 2030
Barclays £25000 - finishes Nov 2016
Santander £9300 - finishes August 2014
Total:£370103.50

Cannot shift Santander due to amount left versus penalty versus length of deal at lower rate :mad:
Barclays DH just got but is flexible so possibility to overpay also not too bad rate @8.7%
Halifax is a long story and basically they can bloody well wait for it , it is NOT a priority and I begrudgingly pay it as it is. It is also 0% I just have to let that one tick along @£200 per month
The interest only mortgage is a worry , there is no method for repayment currently. It needs to be repaid or something done to change the interest only bit ... But that is phase 2
The repayment mortgage is usually covered along with other bills related to this house as it it rented But there is always the what if not tenant or no rent scenario ... You never know!

We aim to get the loans except Halifax cleared by end 2014 nothing like being optimistic is there

We will then attack the mortgage with much gusto without hesitation and aim to clear within 10 years currently these are 20 and 25 year terms.

However the biggest hurdle is to make sure we clear Santander just in case DH actually has his income cut by the threatened 30% :eek: ASAP preferably before the end 2012 ..... I said nothing like setting a challenge :rotfl:

JoeyGrey

I love to follow a good challenge
Subscribed :T

missrlr

Ooff, blimey well himself is also involved so need to provide impetus there (oh and not get side tracked when we nearly get there by a Gallardo dribble but they do look so pretty)

chevalier

Hi there
Welcome to the boards. It has often been the case, that people just starting out have filled in a Statement of Affairs in order to really focus on where cuts can be made.

Here is the link
http://www.makesenseofcards.com/soacalc.html

Ref the rental property, might be worth looking at void insurance, as the mortgage would be quite a worry without it.

good luck
chev

missrlr

Hi

As much as this is the first diary I have started, I have a very detailed spreadsheet with all expenditure per month and on an annual basis, with a year on year comparison for each spend section just so I can scare myself how much more it costs every year (had this since I left home some (OK many) years ago) so have a good idea as to the bits I can cut for now.

If it gets to the point of "oh rubbish" and inspiration is needed then I will be using the link.

I have void insurance as part of the landlords insurance I have, but as always (paranoid been that I am) have to have a cash back up just in case the insurance doesn't pay up in time and to fill the excess part.

According to the spreadsheet will have £100 by end of Feb to plonk in the "pay off Santander" account .... and Ebay here I come.

missrlr

Morning, so final credit card statement came in that is due for payment in February so have completed spreadsheet and set up the first payment to the "Bye bye Santander loan" should be £300!

All monies for the month of Feb are accounted for including a small personal spend amount for us - which will be used for the 2 weekends we have people staying I expect.

Our plan is get rid of the Santander loan first as it is the highest interest and also the smallest - so double whammy there!

We have decided that as we have an account from which the loans are paid already and the fact the Santander loan is one you have to pay it off in full only options; what we are going do it put all the money we can each month into the account and when we think we have enough we will phone, get the F&F figure then make the payment from that account.

Apart from that will also be able to throw a bit more money into it when get the (unexpected) expenses reclaim monies early Feb so might be about £120 more to chuck at it in Month 1.

OH had another meeting re the whole possible change thing with line manager and was told there are no plans as yet they have been advised of to discuss this further, we are not letting this change the aim as this organisation have a habit of changing their mind and making last minute changes .....

His salary figure for the last month should be though any day too so will be able to understand what the actual figure for the possible decreased salary is likely to be and also what his spare cash is for the month and then make another payment to the account!

I like making progress, but now want the end of next month to come around to do the same - impatient girl that I am!

missrlr

Right bit of a disaster ended up buying stuff for company on my personal card, will get the money back but more importantly handbag strap AND zip broke just as I got out of the car spreading it's contents all over the car park and under the car very embarrassing . Retrieved it all but had to buy a new one at the airport, hoping as it fits laptop can get t reimbursed too. Strap was totally shredded and had important meeting so a carrier bag was not going to cut it. plus lack of security sans zip is no good in airport

Better luck tomorrow

But got mileage. And more tomorrow so all adds up.

missrlr

Ok £155 from mileage this week to add to pot ... Accounts promises this will be in bank by end of next week yippee
Also will get several more mileage days in Feb having updated calendar with confirmed events ... All unexpected additional income!
Plus listed old fish tank on Evil Bay hopefully get some money for that too!
Finally got paperwork necessary for DH budget to begin so will sort that next.
Reading meters next on list to make sure bills accurate.

missrlr

Sub £50 spend on weekly shop even with a replacement toaster - managed to half our usual bill!

Bad_Weather

Hi Missrlr!

*Subscribed*

You sound like your doing well! :T Very upsetting re the handbag...i would be very upset about that and regardless of the situation a carrier bag would just never be acceptable! :rotfl:

I'll keep popping in! x

missrlr

Expenses in might even get the laptop hand bag through !
Found a lip balm to replaced used one in dog walk coat in back of pharmaceutical drawer knew I had one just needed to remember where!
OH has agreed when his salary is in and all bills paid the rest comes to me so can be saved for the anti-Santander fund. This is a huge step for him and might just mean we get this debt busted this centuary!