I've got myself into a MASSIVE debt in 9 months...

weebit

This has been a good month. Debt now at £46,298.58 - a whole £1.42 more than my target of £46,300! Next month is going to be even awesomerer... if that's a word?

ratrace

weebit wrote: »

This has been a good month. Debt now at £46,298.58 - a whole £1.42 more than my target of £46,300! Next month is going to be even awesomerer... if that's a word?

Great news mate, you seem to be doing well when I first read your dairy I thought this guy is in serious denial and you would just keep on spending, But it seems it really was a true lbm and the plan you have seems to be working

Keep going.

weebit

ratrace wrote: »

Great news mate, you seem to be doing well when I first read your dairy I thought this guy is in serious denial and you would just keep on spending, But it seems it really was a true lbm and the plan you have seems to be working

Keep going.

Thanks. I had a slow start for a number of reasons, but things are moving along nicely now. I hope that by Christmas, I'll pass the £36,000 mark.

Teacher2

weebit wrote: »

Thanks. I had a slow start for a number of reasons, but things are moving along nicely now. I hope that by Christmas, I'll pass the £36,000 mark.

That's amazing. Keep it up!

weebit

We've actually had an exceptionally good month this month, thanks to a bumper overtime pay-packet by my wife, and also additional income from cat-sitting.

However, my landlord now wants to increase our rent by another £106/month, BUT hopefully next month I'll have a wage increase which counter-acts this. I should hear about this later this week or next.

One thing I am really looking forward to is buying a house so I no longer have to pay someone else's mortgage! This will take many years to happen though, but I cam dream

chevalier

Have read your diary. Good luck with getting sorted. Don't forget to look at the link that was given above about how long your OH has to wait to become naturalised. It might mean you have to pay that cost not the cost of a new visa.

chev

weebit

chevalier wrote: »

Have read your diary. Good luck with getting sorted. Don't forget to look at the link that was given above about how long your OH has to wait to become naturalised. It might mean you have to pay that cost not the cost of a new visa.

chev

Thanks for the kind words. However, I know the visa process inside out, so no need to give me advise on that!

weebit

So i had a good week. MBNA offered both me and wife a 0% balance transfer deal for 12 months, so we've moved around £9,500 to 0% - which after taking off the fee, will save us around £1000 in interest in the next 12 months! This has meant I have completely paid off 3 cards which feels great. I know my debt hasn't reduced due to this BT, but it feels good to owe money to fewer banks!!!

KxMx

Actually weebit I think £1k less interest due to the BT means you can use that £1k to pay off debt, so it will lead to a reduction in overall debt.

weebit

KxMx wrote: »

Actually weebit I think £1k less interest due to the BT means you can use that £1k to pay off debt, so it will lead to a reduction in overall debt.

That is true if you're looking at what my circumstances will be in 12 months time, but right at this moment in time, my debt has actually increased by about £300 due to the Balance Transfer fees, but in 12 months' time I'll be better off by £1000 than I would have been had I not had a balance transfer.