Indebted 2U

Indebted2U

Decided that as my CC debts are now on a 0% card until end of May 2014. Rather than just clearing them as quickly as possible, I will pay a set amount each month that will pay them off just in time. It means I can put any extra cash, (doubt there will be much but every little helps) into an emergency savings ISA. I will still reach a point where the savings equal the remaining debt before May, so I'll be effectively debt free. But I'll also have some savings just in case of emergencies and I'll earn a little bit of interest along the way. I know many would say just pay the debt off as quickly as possible but I'm hoping that by looking at the regularly reducing debt and regularly increasing savings balances, I'll have an added psychological MSE boost:)

FreebyFifty_2

Hi I2U You have made an impressive start and seem very organised :T

I am off to subscribe and follow your journey.

Breeze_Hill

Hi I2U!! Just found your diary, and now that I know how, I will subscribe to it!
You are doing amazingly - you seem to have paid off loads already!:beer: Being mortgage free would be absolutely great. Will be watching this space.

Indebted2U

Breeze_Hill wrote: »

Hi I2U!! Just found your diary, and now that I know how, I will subscribe to it!
You are doing amazingly - you seem to have paid off loads already!:beer: Being mortgage free would be absolutely great. Will be watching this space.

Thanks BH. :j
My long term plan is to move closer to where I work as the commute is killing me. Unfortunately house prices are quite a lot more in that area :shocked: and I never really thought it would be viable. However now that I've started to tackle the dreaded plastic payoff , I've decided that I might as well really go for it and aim for something that would really improve my quality of life. So I'm hoping to clear the CC debt, build up a bigger chunk of equity in my current little home and save some cash reserves to add to the moving pot. I'm hoping that 24 months should see me reach my goal:dance:

Indebted2U

Well I made June's CC payment this morning as soon as my pay arrived, so I wouldn't be tempted to spend it. That's £3864 paid off since my LBM a little over 3 months ago. :j

Hoping to be able to put some into savings as well this month as I'm due some expenses from work but think that will have to wait until nearer the end of the month as I don't want to run out of cash too early and I flatly refuse to put anything else on credit cards ever again.

Wow listen to me, might just have to add the caveat "If I can possibly avoid it" to that MSE declaration. :rotfl:

Have a great weekend everyone.

Breeze_Hill

Go you!! That's an amazing amount to have paid off!! :T Loving your plan too - that's the sort of plan I would make.

Indebted2U

Breeze_Hill wrote: »

Go you!! That's an amazing amount to have paid off!! :T Loving your plan too - that's the sort of plan I would make.

Thanks BH, targets, milestones and goals seem to be what really focuses me into paying off the debt and not slipping back into plastic purgatory

Well it's my Dad's birthday next week so I decided to try and get an MSE compliant gift for the first time. My folks have given me so much over the years, so I always try and treat them on birthdays and at Christmas. They're both pensioners who worked and saved all their days, only to see a lot of their hard earned golden year plans dashed, when Equitable Life crashed and their pensions significantly reduced overnight. They don't have a lot of cash for life's little luxuries so I decided red wine was in order this year. :beer:

MSE had a great comparison section on wine offers and I managed to bag 2 X 6 bottle cases of decent red plonk at 50% off, with free delivery and 500 clubcard points to boot from Mr T :T So am very pleased with myself, as the old pre-LBM me would have just paid up without checking for discounts first.

Have a great Sunday everyone.

p.s. Ooh just noticed I am no longer a Newbie, GULP!! Please don't suddenly expect me to know all the MSE rules and regs yet everyone:eek:

Blackpool_Saver

roomontheend wrote: »

We just have free sat, I was with sky for twenty years. Then we moved house and they couldn't get a signal but they kept charging me because they said it wasn't cancelled. Why would I cancel a service I didn't have? We then got another company in who charged us £570, they had to put it on a fence and dig up the drive but this was the only way we could get a tv signal.

huh?:eek:....

Igamogam

Indebted2U wrote: »

p.s. Ooh just noticed I am no longer a Newbie, GULP!! Please don't suddenly expect me to know all the MSE rules and regs yet everyone:eek:

Wait till you get your first star!!;)

Indebted2U

Following my blocked drain and the water company clearing it rather than having to pay for it myself. I dropped an e-mail to the company to say thank you and point out how professional the last engineer was. As I really believe in rewarding good customer service. I got a letter today to say thank you for my nice comments that have been passed on to the engineer and apologising for the blockage. Oh and they will reimburse me for a years waste water charges :T

Thank you Karma