£100k Debt Free in 4 1/2 years - My Debt Diary

[Deleted User]

You only spend 80 per month on food! thats got to be bad for your health a sensible budget is more like 2-300.

ThankYouAndEnjoy!

Quick Calculation!!

Total Debt Outstanding 20/09/2007 - thinking ahead! Essential Plannin!

Income

£127 - PlayTrade
£448 - Soph Maternity Pay (July)
£448 - Soph Maternity Pay (Aug)
£448 - Soph Maternity Pay (Sept)
£1496 - My Pay (July)
£1496 - My Pay (Aug)
£1496 - My Pay (Sept)
£400 - Share Sale
£210 - GS (Aug)
£210 - GS (Sept)
£60 - Quidco (Aug)
£70 - Quidco (Sept)
£91 - Tax Credits (Aug)
£91 - Tax Credits (Sept)

£7047 - Total Income

Expenditure

£611 - Credit Card
£4820 - OverDrawn
£1350 - Bills (20/07 - 20/08) Max
£1350 - Bills (20/08 - 20/09) Max

£8131 - Total Expenditure


So – OverDraft as of 20/09 *should* stand at £1084

Quick Snapshot of our SIG *should* show on 20/09 - Mortgage + Loan Approximates based on believed Daily Interest on both debt products

ThankYouAndEnjoy! wrote:

Total Debt £103,592.98 / £102,796.20
(10.04.07 / 20.09.07)

NationWide Mortgage: £93,869.31 / £92,320.78
LloydsTSB Credit Card: £2,187.30 / £00.00
LloydsTSB 7Year Loan: £4,745.71 / £4,501.44
LloydsTSB OverDraft: £1,135.72 / £1,084.00
Interest Free Carpet: £1,400.00 / £700.00
Argos Pers Store Card: £254.94 / £00.00
Virgin C/Card 0%(March 08): £00.00 / £4,190

Total Debt Down/Up -0.77% :j

OMG - How Pleased will we be if everything goes to play and we are below our starting debt come 20/09 !! - and thats with taking on the £8.5k of extra debt that GS is paying back!! - GOOOOO US!

SarahNeedle1872

Wow TYAE, that would be fantastic, especially after u took on GS debts too! If only u could fast forward time....:D

Hope it all works out

Sarah x

ThankYouAndEnjoy!

SarahNeedle1872 wrote:

If only u could fast forward time....:D

Sarah x

If only ....

Personally, we wouldn't change being in debt - and the reason for it, for anything! -

Granted; we want the debt 'stranglehold' loosened from around our necks A.S.A.P; however, being in debt allowed GF and I to live together and have Charlie. I wouldnt change that for the World (sheds a tear, feels choked)

Planning months ahead really helps us with our Debt; knowing that everythin will look brighter lessens any stress associated to the value of debt we are currently in -

SarahNeedle1872

ThankYouAndEnjoy! wrote: »

If only ....

Personally, we wouldn't change being in debt - and the reason for it, for anything! -

Granted; we want the debt 'stranglehold' loosened from around our necks A.S.A.P; however, being in debt allowed GF and I to live together and have Charlie. I wouldnt change that for the World (sheds a tear, feels choked)

Planning months ahead really helps us with our Debt; knowing that everythin will look brighter lessens any stress associated to the value of debt we are currently in -

I wouldn't either, because I think I've learned an important lesson in life - to value money and not just throw it away. When I was previously married, my ex had a house with no mortgage and brought home nearly £3k a month... we used to go on hols, out to dinner 3 nights a week, shop every weekend etc, and money wasn't an issue... but there was still very little left at the end of the month. We had no idea how much we were spending, and we weren't bothered.
Now I know the value of money - even if I don't have much! - but I know how much is being spent and what it's spent on. Without having the debt, I think I'd still be in the 'spend bubble' I was in before.

Sarah x

ThankYouAndEnjoy!

Another Day ... Another Update

Still waiting for GFs money to go into the account ... no idea where that has gone!! Shes going into work tomorrow to find out - hopefully it wont be too long until it arrives. Our little account is worried sick where it might be

I've updated our S.O.A on page 1 to include the payment to Virgin C/Card; it comes out to roughly £80 a month

Was really naughty yesterday - GF and I purchased GIG tickets for the following bands ....

* Within Temptation
* Taste Of Chaos (The Used + Rise Against amongst others)
* Alexisonfire

The total cost to us, nearly £100 !! - The GIGs are all in November - Im kinda thinking to make myself feel better about the guilt of spending the money is to say £100 divided by 4months (until GIG date) = £25/month - It doesnt sound half as bad (or a quarter :rotfl: ) when looked at like that!

(Note to self - Is that creative accounting being cheeky and likely to get me nowhere?)

fiveyearplan

Why don't you change broadband to Talk Talk. You get unlimited free phone calls and broadband for £25 per month (I think they may have reduced it to £20). That includes line rental. My children nearly bankrupted me last year with phone bills now I'm with Talk Talk and we have barred calling mobiles so thats all we pay. Huge savings for us and possibly £20 per month saving for you.

clairel_3

Hi TYAE!

I've just read this thread for the first time - congratulations on doing so well so far and for being so clued up! I'm considering doing a diary myself and you've given me a bit of inspiration and a few ideas about ways to look at money, so thank you!

Congratulations on Charlie, hope you're getting a bit more sleep now! Bad luck with the job but you probably don't need all that travel anyway so maybe a blessing in disguise.

Good luck, keep us posted!
Claire
x

ThankYouAndEnjoy!

clairel wrote:

Hi TYAE!

Bad luck with the job but you probably don't need all that travel anyway so maybe a blessing in disguise.

Good luck, keep us posted!
Claire
x

I think you could well be right ....

It would have been 10 hours of travelling; by my reckoning using those 10 hours of o/time here i should earn the following in o/time

£9.31*1.5 (1.5x Hourly Wage) = £13.96 x 10 (week) = £139.60
£139.60 x 52 (weeks In Year) = £7259

So, i should be no worse off by not getting the job, and obviously o/time is flexible so if im tired / Charlie of GF need me im just round the corner....

Have to think of the positives during a situation before negatives

ThankYouAndEnjoy!

YAY :j

Took my theory driving test this morning - first time pass - No revision whatsoever :rotfl:

I've got a 2 hour 'taster' booked for thursday week (02/08) - if all goes well, i ll be taking the 'intensive course' (30hr over 1 week) 1st week of September!

Then it gets expensive.......Goodbye 4 1/2 year plan :rotfl: