Debt Free By 30 - Mission Possible?

beanielou

Well what do you have to pay out of the 700?

Mockingjay

beanielou wrote: »

Well what do you have to pay out of the 700?

The essentials are;
Rent £370 (includes bills, renting from a good friend)
Car Ins £29
House Ins £28
Food shopping £70
Mobile £36
Petrol £60
Storage (cancelling mid December) £98

That leaves £28. Obviously these are the bare essentials, no clothes/toiletries/presents. From January I'll have £126 left over. I was thinking that I could withdraw that as my monthly spending money for non essentials & once it's gone...it's gone. I'm going to try it out on my October/November pay...:A

Mockingjay

NSD today! I'm home & I'm staying home for the rest of the day. BF is away so I'm going to tidy & clean our flat into submission. Such fun...:cool:

Scuff

Mockingjay wrote: »

Yey! I have a balance of £994 on my student loan! Delighted!! Was hoping it was around a grand.
Oh actually it's....£254.70!!
Just realised the £994 didn't factor in this years payments. Only three (well 2 & a bit) more payments then I have an extra £91 a month to throw at my debt!!! :cool::eek:

Wows, last time I got my student loan statement it was just over £18k that's amazing!! I nearly fell off my chair! :rotfl: I dream of this day!!!

Well done so far, I've just bitten the bullet and started mine, it's crazy how fast you go from getting thrills out of spends to thrills out of NSD isn't it haha! 15 months isn't long at all in the long run either! Good luck! xx

Mockingjay

Scuff wrote: »

Wows, last time I got my student loan statement it was just over £18k that's amazing!! I nearly fell off my chair! :rotfl: I dream of this day!!!

Well done so far, I've just bitten the bullet and started mine, it's crazy how fast you go from getting thrills out of spends to thrills out of NSD isn't it haha! 15 months isn't long at all in the long run either! Good luck! xx

I know I can't believe it! I only took £6k student loan but my other debts started at the same time so in hindsight maybe I should have taken more & not take all the lovely 'free' credit card money

Yes! It's mad how I've changed my complete money mind! I keep one thing in my mind if I'm tempted to spend... As long as I'm in the red in any account it's not my money to spend!

I've subscribed to your diary - good luck! We can do this! :T

Heffi1

Well done MockingJay, that is a lovely surprise with the student loan, I bet it feels good to know there is such a little time left until you are debt free. Woo hoo I am pleased for you.

Mockingjay

Heffi1 wrote: »

Well done MockingJay, that is a lovely surprise with the student loan, I bet it feels good to know there is such a little time left until you are debt free. Woo hoo I am pleased for you.

Thanks Heffi! Soooo looking forward to next payday so I can be one step closer to freedom!

NinjaSavingKat

Hey there.. loving your posts. This money saving malarky is great fun when you get stuck in..I'm subscribing to you by the way, you sound super positive and my kinda debt-buster!:o

I am determined to get rid of my debts and am selling all my bits "bit by bit" ..... however will never get this done before 30 ( which is depressingly next year ).. but am pushing it hard...:T

I check my student loan every month..http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,3866794&_dad=portal&_schema=PORTAL
Called them and got a reference number which allows you to set a pass word... very clever but hopefully yours is very very low by now... you can also pay into it so if you have £100 left you could just whack that on and get it done with....

Well done on the make-up down-grade! Always the hardest thing to do..

Mockingjay

Thanks Kat! Good luck on your mission too! I never thought I'd be even near debt free by 30 but playing about with snowballing has really motivated me and I'm even thinking about savings afterwards! I just want the time to fly by. 15 months is short compared to some but still feels like a long road and I'm pretty impatient! But I'll get there, we'll get there, in the end!!

I'm now all signed up to student loan online & I'm going to call them in December and make sure I don't overpay. Apparently it's quite common! :eek:

Ooh & in other MSE news I have sold my first bit of furniture for £40 My old bed frame is next to go...

NinjaSavingKat

Yeah for extra selling!!! We will get there in the end. Its a 15 month haul for me too so I will be interested in your progress....

I just saw your other posts ( doh! ) - small amount to pay! WELL DONE!!!! .. a friend overpaid his so you are right to keep a check on it...

Excellent job so far though...