Post wedding debt plan

Pengwern

Well shower repairs cost us zero! A relative owns a renovation company so we traded skills, he sorted our bathroom and my husband fixed his bad knee. We like that sort of payment. Cottage boiler broke again but when they visited it turned out it had no issue when the engineer inspected it so just £70 call out and their time. Still a lot but it could have been worse. Hopefully feb will be the first month we recieve the rent with no deductions.

Currently managing to save £1,000 per month! Cannot believe it but going with it for now. It helps that I have only put £40 work of fuel in my car this month. No sale purchases so feeling good but I have a few birthdays at the end of the month. Still on track with savings and husband just received an unexpected gift of cash. Unfortunately it is from his nana that passed away. That is going towards his cc debt.

Have decided to pay off cc once we have enough saved and an emergency slush fund. So positive start to the year, let's hope it continues for us and every other person trying to deal with their finances.

Pengwern

I knew life was appearing too good. A relative has just has a cancer diagnosis. There it is the kick you get when things appear too good to be true.

ellesbellesxxx

Sorry to hear that Pengwern x

Pengwern

Thank you for your kind words. Money saving is still going strong for my husband should be £500 at the end of Feb, joint account has saved another whopping £1,100. All gone to the savings account to clear cc, by the end of march we should have enough to pay off the big cc. But it is not due till June so will wait till then before doing that. I am not doing well at all on the savings, none this month. Really frustrated so need to go back to basics and find out the issues. I am not overspending so that is a positive but I would like more than £2 in my account the week before payday. Need to start selling things again. It takes effort so I tend to do in short bursts, not good for cash flow but does help all the same.

ellesbellesxxx

I always do the selling in bursts in the holidays - especially when I have to keep relisting/bumping threads... Sounds like you are doing well with debts though xxx

Pengwern

Can't believe it's been a year since I last posted. Lots have happened and our family has grown by 1. We have sold the flat and brought a house. Paid off the big cc and payed down the small cc. I have just started my non paid leave so really need to watch the pennies now. This year it's all about saving and paying off the family loan. Small cc has been shifted to another 0% cc with a set amount paid to it each month that it will be paid off at the end of the promotion.

Current debt

£1500 0%cc will be gone in 15 months
£7300 family loan. To be attacked if we can

Pengwern

Maternity leave has ended and I am 2 weeks into paid work. We are still making progress but I have managed to increase the debt again. Finally decided credit cards are not for me. However many spread sheets I have it just never seems to work. I am very luck and have not been refused any 0% offers when I need them but the time has come to finally admit I just need to spend what I have.
So as you can see from my updated signature we are still in the red. However none of it is accruing any interest yet.


I am saving £500/month to pay off CC3 by xmas I have £2,600 saved already so doing quite well. I have thrown an extra £200 this month to CC1 and the regular £100 is still to be paid. I am hoping next month to pay that one off, £100 regular payment and £200 extra. CC2 is being paid £100/month and that should be paid off within the 0% period. Family loan is a concern, they are not pressing us for it but its a large amount and we have paid nothing in 2016 so far. I intend to start paying £200/month in January.


I have switched our utilities via the energy club and reduced our monthly payment from £76 to £35, so very happy. We have sold a car so only have 1 now. this has helped loads and is part of the reason why I can save £500/month as that was my car costs!! I have removed all my cc from my purse and updated my card info on most of the sites I buy things from. However I am much better at not buying stuff now. It is disappointing not to receive parcels most days but the bank balance is smiling at me.


What I find most frustrating is that by now its still 2 weeks before I get paid and I have moved all the money around. I just want these debts gone. We can then attack the mortgage while interest rates are low and provide us a buffer when the shoot up.


Trying to find things to sell but I have got rid of most things while on maternity leave to help generate me a small income.

Pengwern

It's payday tomorrow which is a very good day in the month. I really do like making progress and getting my fix of updating my budget. I should be able to pay off one of my CC. there is £300 left on it and I will make the usual £100 payment and pay and additional £200 rather than put it in savings.


Managed to sell a desk for £20 so that helped out with some food shopping I had to do this week.


I also overpaid on childcare last month so this month the bill is £26. This leaves me with a choice about what to do with the cash. Put it away or send it to one of the CC. They are all on 0% but I just want them gone. It is starting to bug me that whenever we re mortgage I always have to tell our mortgage adviser that we have debt on a CC. I think he must look at us and wonder why we never clear it. Well we do we just then run up the debt again. So in December our fixed rate on the mortgage ends and I am determined to tell our mortgage adviser that we have no debt!!


Will post again once I have moved the money about and update the signature.