Catriona's Credit Card Countdown

beanielou

Debt at highest was about 19k.
Took longer than it should have to pay off as it took me a while to have a real LBM.

Orange_Ena

catriona79 wrote: »

Ena - it's soooooo addictive on this and the MFW board!!! What if you went even further and added £300 from lodger, how many years does that knock off? :A
Life would be sweet and the security you'd have - amazing!

Yeah, so like Beanie Lou says, is your debt on0%? And can you get 0% cards in the future? I have to say it would be nice psychologically not to have the cards around my neck and then pay off the mortgage. But realistically, it would be cards, then career change.

You can't have everything.. But I'm looking for fulfillment at the moment. I'll adjust as I go.

You?

Oh dear, that £300 from the lodger as well would knock off over 12 years! Cripes! That is such an attractive prospect. I can see why so many MFWers are dedicated to the cause!

I've just got a new 0% card (see the post above!) so hopefully I'll be blasting that down quicker. I'm really excited again haha.

It's all a balance isn't it really. But to be happy and do something you love is worth a lot. Congratulations on the compressed hours, brilliant news and so glad they've agreed. Woo hoo to studying. Ooh psychology. Really interesting subject. I did a psychology GCSE years ago and I loved it. Can't remember much now like! Good for you for doing something about your working life. The samaritans will be lucky to have you. Go for it girl!

I might check out that mindfulness book, cheers for the recommendation

Nearly Friday, woo!

catriona79

Orange_Ena wrote: »

Oh dear, that £300 from the lodger as well would knock off over 12 years! Cripes! That is such an attractive prospect. I can see why so many MFWers are dedicated to the cause!

I've just got a new 0% card (see the post above!) so hopefully I'll be blasting that down quicker. I'm really excited again haha.

It's all a balance isn't it really. But to be happy and do something you love is worth a lot. Congratulations on the compressed hours, brilliant news and so glad they've agreed. Woo hoo to studying. Ooh psychology. Really interesting subject. I did a psychology GCSE years ago and I loved it. Can't remember much now like! Good for you for doing something about your working life. The samaritans will be lucky to have you. Go for it girl!

I might check out that mindfulness book, cheers for the recommendation

Nearly Friday, woo!

Hey Ena,

Thanks for your message and well done on getting the 0% card! Now your money will be paying off your debt, rather than lining the banks' pockets. Celebration time!!! :T:beer:

12 years off your mortgage is massive! Wow! That's practically halving it. Amazing.

I've been looking at some numbers too, inspired by you!:) I don't think this scenario is going to happen, but it's good to dream...
So if I paid off my debt in the next 6 months, and put what I currently put towards debt repayments towards the mortgage (£350), that would mean my new mortgage free date would be in 14 years, in time for my 50th! Which would be great!
If I paid off my debt and then chucked £900 o/p a month at the mortgage, my MFD would be in May 2023! When I'm 44. That's not bad at all!
Circumstances change, so I don't know what that's all going to be like, but it's addictive! Just reducing it to 14 years, with no pain would be great.

Have a good Friday :T :T :T

beanielou

14 years with no pain sounds good to me

catriona79

Saturday afternoon, what a lovely day it's been. Just got back from a lovely walk out with my lodger/friend (L1).

The new lodger (L2 ) moved her stuff in, and will be paying her rent and deposit shortly (19th) so then I shall go and pay that off my cards. That will take care of my Virgin card, which I can then forget about! All good.
It's made me realise that if I do that I will get my card debt under 10k, for the first time in FOUR years! Which is going to be an amazing feeling:) finally, after years of plodding there is a big landmark ahead, and really close too!

Have decided to go for a tracker mortgage with no early repayment charges, best APR I can get at the moment on that is 1.69%, which means that a bit less will be going on interest and bit more on the humongous 110k that I need to pay off!

The only decision which needs to be made now is whether to ask for 35k additional borrowing for the loft conversion. It takes a while to get a mortgage and probably by the time it is all approved, I will have a good idea of whether I should get the loft done or not!
Equally, it would be good to have the money and feel secure, in case of a job loss or if I wanted to study.

hope everyone is having a fab time !!!

Orange_Ena

catriona79 wrote: »

Hey Ena,

Thanks for your message and well done on getting the 0% card! Now your money will be paying off your debt, rather than lining the banks' pockets. Celebration time!!! :T:beer:

12 years off your mortgage is massive! Wow! That's practically halving it. Amazing.

I've been looking at some numbers too, inspired by you!:) I don't think this scenario is going to happen, but it's good to dream...
So if I paid off my debt in the next 6 months, and put what I currently put towards debt repayments towards the mortgage (£350), that would mean my new mortgage free date would be in 14 years, in time for my 50th! Which would be great!
If I paid off my debt and then chucked £900 o/p a month at the mortgage, my MFD would be in May 2023! When I'm 44. That's not bad at all!
Circumstances change, so I don't know what that's all going to be like, but it's addictive! Just reducing it to 14 years, with no pain would be great.

Have a good Friday :T :T :T

Hi Catriona. It's a relief to get a new card, I always worry I'm going to get declined. Can't wait to get the balance transfer done and one card closed!

It's amazing isn't it, that over payments can make such a difference. And I am addicted to that blimming calculator! I was already feeling fairly focused but anytime I want to fritter money, I'll check that calculator :rotfl:

It's nice to know it's all possible and like you say, we don't know what's around the corner! It's great to have some sort of target though, whether that's debt free, mortgage free or a new career!

Orange_Ena

catriona79 wrote: »

Saturday afternoon, what a lovely day it's been. Just got back from a lovely walk out with my lodger/friend (L1).

The new lodger (L2 ) moved her stuff in, and will be paying her rent and deposit shortly (19th) so then I shall go and pay that off my cards. That will take care of my Virgin card, which I can then forget about! All good.
It's made me realise that if I do that I will get my card debt under 10k, for the first time in FOUR years! Which is going to be an amazing feeling:) finally, after years of plodding there is a big landmark ahead, and really close too!

Have decided to go for a tracker mortgage with no early repayment charges, best APR I can get at the moment on that is 1.69%, which means that a bit less will be going on interest and bit more on the humongous 110k that I need to pay off!

The only decision which needs to be made now is whether to ask for 35k additional borrowing for the loft conversion. It takes a while to get a mortgage and probably by the time it is all approved, I will have a good idea of whether I should get the loft done or not!
Equally, it would be good to have the money and feel secure, in case of a job loss or if I wanted to study.

hope everyone is having a fab time !!!

Woohoo. Under 10K is fantastic. Celebrations :beer: Must be a huge psychological boost to get into the single digit bracket

Brilliant mortgage rate too, that's a huge help. It's addictive getting all these better deals! So many people out here just drift along, not checking they can get stuff cheaper!

Good luck with the loft conversion decision!

beanielou

All sounding good

catriona79

:j Hello Lou and Ena!

How was your weekend?

Mine was super, both enjoyable and productive. Firstly a coffee and a walk around town with a friend and then back home for the afternoon, sorting out my wardrobe, putting clothes in neat piles and ironing! I got a sense of achievement and feel great. I also didn't spend a lot of money.

In other news, a date has been scheduled for next Saturday. :eek:
My housemate is going away (and the other one too!) so I'm looking forward to it even more, as otherwise I'd have been in by myself. All good!

catriona79

Also, I need to add (excitedly!) that I'll get my forts lot of rent on 19th, which will go straight to debt reduction! It's going to be a good feeling!

Can't wait! :T