Catriona's Credit Card Countdown

catriona79

Ena!!!! JD Williams - zero pounds!!!! Wow!!! ��

catriona79

Orange_Ena wrote: »

Or, secret option C? You can lurk around the tills, waiting for someone to whip their cash out and then shout "NO! Swap me your lovely cash for these equally lovely vouchers" Hey presto, you get the cash for debts, they get their goods as well as a nice fuzzy feeling for doing something nice. Is that a go-er? :rotfl::D

If you see a woman hovering by the tills in m&s... That'll be me!

Interesting idea. I wonder if I know anyone who wants to swap!!! :T

Orange_Ena

Thank you! So happy it's gone. :j

Haha or you could just treat yourself after all. If you hadn't been money savvy you wouldn't have had them so you should be rewarded. Have funding spending them

catriona79

Hello hello

A bit of news from me. Mortgage.

I'm just finalising my application with the broker. Have gone for a tracker with a low fee. That way I will have the flexibility to change the deal in about a year's time, depending on work, study and other circumstances. Hunky dory.

The upside (there are many), aside from a rate drop from 2.49 to 1.69 or 1.85% is that my current mortgage consists of the mortgage proper and another £10k which is a homeowner loan. This means that payments are £438 + £149 (the loan was taken out over 8 years).
Now, when consolidated, my total payments will be in the range of £460, so hopefully this means more £ towards cards or savings. I know it will cost more in the long term, but I just want to see the back of the cards or have a solid amount of savings. This will enable a career change, which will be super.

So that's good. Think i will be going with nationwide.

I don't think it will not go through, there's no reason for it not to, so I will work out roughly what my budget will be and how to approach it all. Better days are coming, I think

catriona79

It would be great to be able to pay the vouchers towards the debt. I'm not sure if anyone i know is about to buy something big at m&s... I thought I could do my weekly shop there and then transfer the equivalent to savings. If I'm careful and buy bargains and stickered stuff, I may well live on it for 4 weeks. Do you think that's doable?

Tinkerbelle2000

Wow Cartiona you are doing really well. I lost you for a while, thought I had subscribed.

Explains a lot regarding the lodger, I was wondering where you had put her lol.

Mortgage is a long way off for me but did have a look to see if I could get one on my income and I could without the debt. I've said on my diary that I found a lovely house that I could afford if I wasn't in debt so I'm going to get the details and stick it in my diary as an incentive (or torture) lol.

Hope you have a good day.

Tink xx

catriona79

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 2078
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 900
Total monthly income.................... 2978

Monthly Expense Details
Mortgage................................ 465.7
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 100
Electricity............................. 45
Gas..................................... 45
Oil..................................... 0
Water rates............................. 23
Telephone (land line)................... 0
Mobile phone............................ 20
TV Licence.............................. 12.13
Satellite/Cable TV...................... 42
Internet Services....................... 0
Groceries etc. ......................... 150
Clothing................................ 150
Petrol/diesel........................... 100
Road tax................................ 0
Car Insurance........................... 45
Car maintenance (including MOT)......... 25
Car parking............................. 15
Other travel............................ 0
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 8
Contents insurance...................... 8
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 90
Entertainment........................... 100
Holiday................................. 50
Emergency fund.......................... 0
Regular saver........................... 325
Total monthly expenses.................. 1840.83


Assets
Cash.................................... 3300
House value (Gross)..................... 210000
Shares and bonds........................ 0
Car(s).................................. 10000
Other assets............................ 0
Total Assets............................ 223300


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 110000...(465.7)....1.99
Total secured & HP debts...... 110000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Santander......................2885......50........0
Halifax........................6200......100.......0
Virgin ........................1000......50........0
Total unsecured debts..........10085.....200.......-


Monthly Budget Summary
Total monthly income.................... 2,978
Expenses (including HP & secured debts). 1,840.83
Available for debt repayments........... 1,137.17
Monthly UNsecured debt repayments....... 200
Amount left after debt repayments....... 937.17

Personal Balance Sheet Summary
Total assets (things you own)........... 223,300
Total HP & Secured debt................. -110,000
Total Unsecured debt.................... -10,085
Net Assets.............................. 103,215

catriona79

Have done my new SOA. It looks like I can be paying £1100 towards my debts a month. Or saving the same amount.
Which means that I should be able to get rid of this debt within 12 months, taking also into account that I will need to pay my tuition fees and have some expensive dental work done. Also pay off a holiday.
But that's heartening! I think I'm going to sit down and work out when, realistically it can get paid off. Hopefully just halving it and then sticking it onto a three year 0% deal, like a Barclaycard, would do it.
I wouldn't mind it if the cards were in the background, if only I had cash to pay them all sitting in an account, making me feel secure.

I am sure life's twists and turns will make a hole in any plan, so they key is to have your options open!

catriona79

I'm having a pretty low day after a semi sleepless night. Thoughts about loneliness etc reigning supreme - I need a good listen to my mindfulness book!

But let's look at the positives
- I am ok the way I am, I have everything I need
- I have just got a new mortgage deal meaning that my expenses will decrease by a bit
- I am healthy and live with two cool girls, one of whom is already a really good friend, and the other one may become one in the future
- next week will be my first week of compressed hours! Whoop whoop!
- I am going to study something I enjoy - hard work but worth it! Fulfilment! Happiness
- I am going to my first Samaritans meeting tomorrow night and will hopefully start doing voluntary work soon!

Orange_Ena

catriona79 wrote: »

Hello hello

A bit of news from me. Mortgage.

I'm just finalising my application with the broker. Have gone for a tracker with a low fee. That way I will have the flexibility to change the deal in about a year's time, depending on work, study and other circumstances. Hunky dory.

The upside (there are many), aside from a rate drop from 2.49 to 1.69 or 1.85% is that my current mortgage consists of the mortgage proper and another £10k which is a homeowner loan. This means that payments are £438 + £149 (the loan was taken out over 8 years).
Now, when consolidated, my total payments will be in the range of £460, so hopefully this means more £ towards cards or savings. I know it will cost more in the long term, but I just want to see the back of the cards or have a solid amount of savings. This will enable a career change, which will be super.

So that's good. Think i will be going with nationwide.

I don't think it will not go through, there's no reason for it not to, so I will work out roughly what my budget will be and how to approach it all. Better days are coming, I think

:j:beer::T Brilliant work Catriona, sounds like a very good deal to me. I know you say it will cost more long term but you could always overpay if you could and wanted to in the future. In my mind, there's no point making it unaffordable now, working to pay for it and not having a life. Definitely breathing room. You're in a fantastic position, with the lodger income, to be able to follow your career dreams. Go for it. It's very exciting getting the financial side of life sorted.

Bring on the better days :beer: