My 1st Diary - SOA Done, Snowballing Ready

ecoverbee

If i put the debts into the snowball and the amount I pay each month it spits out 39 months. So not sure why people are saying its wrong.

I probably should have stated that £1000 from very doesn't start till march which is also why that debt needs to be gone by then

Thanks
Andy

Scuff

I think it was just confusion caused by the fact that you said in your first post you had £250 to use as snowball, making it sound like the total you were paying off every month is only £250, when infact it's £1360ish. Obviously just looking at it quickly, 250 x 39 is nowhere near £43k, whereas 1360 x 39 is around £55k (or a little less)
Keep up with the spare change too, it definitely helps

ecoverbee

Just added another £0.30 to my loose change pot. It's really starting to add up all these little bits.

I just also update my snowball as paid a few debts this month as officially it will be November when the plan really starts. So after having updated my snowball we now only have 38 months to get rid of it all.

Off shopping today but will try to stick to our £40 weekly food budget, usually we always go over. Let see how it goes today!

ecoverbee

Managed to spend £38 on food this week but still need I get cat litter so will take it to £40.

Also just got our Christmas list and have to buy presents for 21 people in our family so we have £390 in cash to do this, we are aiming to spend only about £200 though. One day next week we will go and get all the gifts in one day before the rush hits.

Very happy that we won't be going into more debt. We still need to get presents for each other but we will have more money coming in November.

ecoverbee

Started our Christmas shopping today and have managed to get most of the presents and are still under budget so far but we probably will hit over £200 more like £240 of our £390 budget which is still good.

We also managed to get 2 £2 coins from some of the change so we have put that away into our holiday fund, not sure how much is in their as the pot is sealed. Also added another £1.02 into the "loose change debt"

We did managed to spend £15.50 + £6 on food, drinks and parking but managed to use money that we had in PayPal so no money has come from the budget.

As I get paid weekly and November has 5 paydays we have £295 spare but my wife needed eye test and some glasses so paid for those out of the spare extra week, again coming from extra money so we are still budgeting strong. Cost £144.95 so made it up to £150 and took the leftover and added it towards a debt so we now have £10.11 in another budget categorie towards the debts at the end of the month.

ecoverbee

Another Christmas shopping day, managed to get 3 more gifts for £20 - £19 it was, so put another £1 in the spare change pot.

£90 left to get another 5 gifts

Also moved some more money around in the budgets and now have £12.47 towards a debt. So far £18.26 towards the end of the month debt.

Not sure if to pay it off using the PAD challenge otherwise there may be a temptation to spend it. What are your thoughts?

Thanks
andy

ecoverbee

Just paid off £286 from using the snowballing for November payment.

On Very we have 2 items for £1009 but they are buy now pay later which is due March 2013. We paid £286 to Very today for November's payment which has taken the balance to £0 but still leaves £899.58 left on the buy now pay later.

This account should not charge us any more interest for the next 3 months so that's a bonus.

ecoverbee

Got my wage slip today and it appears I have earned £134 over my normal wage of £295 so I'm putting £100 into the Christmas/presents fund.

I have also received a £10 refund into PayPal when I ordered some trainers and they sent the wrong pair so they offered £10 if I keep them, been a month I pretty much forgot and then nice email today telling me I got money! Whoop!

I transferred some money between my budgets from some of the overtime and now my debt categories has £19.30 in there and spare change is also building up nicely. Hoping to have around £50 by the end of November to put towards another debt.

We now have £50 for this weekend as we are having a night out which I haven't had for a long time, probably a few cocktails and a meal.

ecoverbee

Went a bit crazy last night ordered a Chinese takeaway cost £20 something so took some of the change and adde it to our spare change jar. Definitely need to be better when it comes to food.

ecoverbee

Busy day today, did our weekly shop and kept in budget at £40.

Also ordered 2 Christmas and 1 birthday present online which averaged around £12 each. We now have £65 left to get another 2 presents and 1 more birthday present and we will have spent £240.

Moving money around in my budget I managed to get £21.96 which has taken just over a week since I started, I decided today to use the PAD challenge so paid £21.96 towards one of our debts so that will bring the total down a little more.