My 1st Diary - SOA Done, Snowballing Ready

ecoverbee

The original debt free date was 39 months. Just used YNAB to budget for the next 2 years as the snowball wasnt working right (things will most likely change as they normally do but if the plan stayed then awesome) which will then leave us paying for the car, if we haven't sold or changed it by then and a few grand on the loan depending how much the debt snowball payments have taken from it.

I do all my accounts online by direct debit, no paper bills whatsoever.

We also have an idea on our next home and so once the debts have gone we can save for our home and get a deposit, plus get rid of my shared ownership property which is a flat.

Thank
Andy

ecoverbee

Me and my wife share a car and I use the bike to work which is around 3 miles, yesterday on the way home a car pulled out on me and I had to force myself to stop and hit the floor avoiding the car. Luckily I was in my work clothes and didn't do any harm to myself, the bike slid into the car's tyre but I only received a buckled back wheel. I was shaken up and felt sick for most of the afternoon, but much better today.

My wife has banned me from using my cycle to work and in a way I'm glad as been biking for a few months and on 2 other occasions cars have pulled out on me or forced me to stop when I'm in the right.

This means that now my wife is letting me use the car to work and she is going on the bus but means she can do her work on the way in.

We will be saving around 10 miles in the car each day but will need to spend around £45-£60 each month for bus passes as she will need 2 buses. We are trying it out to see if this works before we look at buying the bus pass in 1 month, 3 months or 6 months.

2 buses for 3 months is £357
2 buses for 1 month is £110 x 3 = £330

Works out better for paying 1 month at a time, would have thought it would be the other way around.

£110 per month will need to come from our budget so not sure how we can do this other than the debt free date will be pushed back.

Thanks

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Been doing a few surveys from mysurvey and earned £9 this month and another £5 from swagbucks need to make sure that I keep the money aside and use on presents and not waste the cash.

specialkaye

Gosh Ebee hope you're okay, not surprised to felt sick!!!

So that's an extra £50-£70 you need to find each month . Might be worth doing another SOA to see how you're doing. If you aren't wanting to cut back any more then the only options are to either up your income to cover this or reduce the payments to debt, which will push back your DFD

optimistic-mummy

have just read through your diary. sorry to hear about ur bike accident hope your feeling better.
your doing well. i understand what your saying about still having a life as well as clearing the debts.
**subscribes**

ecoverbee

specialkaye wrote: »

Gosh Ebee hope you're okay, not surprised to felt sick!!!

So that's an extra £50-£70 you need to find each month . Might be worth doing another SOA to see how you're doing. If you aren't wanting to cut back any more then the only options are to either up your income to cover this or reduce the payments to debt, which will push back your DFD

We are going to trial the buses and decide in Jan as my wife breaks up next Thursday. £110 is a lot of money on buses but I also don't really want to use the bike again, we do have another £90 spare each month that goes towards emergencies or we end up wasting.

We will definitely be looking at all avenues, I could always buy a cheap car and hope the insurance isn't too bad but probably still add up around £100 per month.

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I had a letter from my bank the other day saying they are lowering my credit limit from £6900 to £6900. Crazy huh!

I definitely need to get a 0% deal and my only hope is that once Virgin is gone they offer me a deal to balance transfer but been reading that they are not as good as offering new deals to repeat customers as much as they used too.

Keeping fingers crossed though.

Thanks
Andy

cocalls

Hi Andy

I commute to work on the bike and had someone pull out in front of me the other day so know how you feel. I'm wondering if there's any way you can walk(or run you mention you go to the gym) to work as it's only 3 miles or could you cycle on safer bits and push your bike on the scarier roads(which is what i tend to do) Would be a lot better than paying over £100/month for a bus pass.

ecoverbee

I messed up this month while I was checking my Next account and misread the statement. I had already paid the min payment at the beginning of the month, and the online account didn't update properly so I thought I missed the payment. I then paid the min fee again £42.44 so this month has seen me make an extra payment to them. Wasn't part of the plan so have to take the amount from our overdraft.

Also work commute, my wife will be taking me to work and after work I will just walk about a mile to my parents home and wait for her to pick me up as its on her way home.

This will save us about £1000 per year on buses, not only that but I can get fed at my parents home.

cocalls

ecoverbee wrote: »

Also work commute, my wife will be taking me to work and after work I will just walk about a mile to my parents home and wait for her to pick me up as its on her way home.

This will save us about £1000 per year on buses, not only that but I can get fed at my parents home.

yeah win win! Especially the free grub!

ecoverbee

Sorry for the long delay in updating.

Had a lovely Christmas and a good new years, hope everyone else had a great time too.

Had a little setback and used the credit card a little about £100 so me and the wife could get each other something, I have been a little worried that Virgin credit card was supposed to be complete in Jan 2013 but with a little spending it was looking like April 2013.

I have managed this month to get it paid off by using some money from my wife's bank account with her overdraft, we are also going to be paying money into the account so they will stop sending us letters asking for money, this should keep them happy.

Virgin credit card - finished - 30% interest rate avoided.

Would love them to offer us a good 0% deal but not sure if they will so will have to wait it out or speak to their retentions department in a month or so telling them to close the account.

We have poor credit at the moment which would have been why Virgin Rate Jacked us but least the card is paid off now.

Thanks
Andy

Igamogam

Happy New Year to you Ebee!!

ecoverbee wrote: »

Had a little setback and used the credit card a little about £100 so me and the wife could get each other something

No Ebee I dont often make judgemental comments but................. Lets hope in 2013 you get your second LBM;)