Mr and Mrs K's New Journey to a Debt Free Life.

Mara_uk7

Didnt you say in an earlier post that your parents were paying for little K's Education ?

Goldiegirl

If you used the £12000 saved towards Little K's education, and the £13825 saved towards paying your debts...... you'd clear your outstanding debts.


For me it's a no brainer - clear the debts and have freedom.


I don't understand what's holding you back - it is in your power to resolve your debt situation now. Once that's done you can get on with living your life.


I mean this in a caring way, but sometimes I just want to give you a kick up the backside!!! LOL

LannieDuck

* £25 per month on presents is a lot.

* I agree that £150 a month on clothes is ridiculous, esp if Mrs K has additional spending money that she could presumably choose to spend on clothes.

* How much emergency fund do you have already saved? (I seem to recall this has been in your SOA since the start.) If you've got £500 say, I would cut it back to £20 per month and put the other £30 towards the debt.

"Mrs. K. will keep the remainder of the money she makes. Basically whatever I earn will go towards paying our bills as stated on the SOA and part of her wages will. The rest is hers to do with as she wishes."

I'm rather uncomfortable with that - you're supposed to be a team. Yes, you're paying off debts, but that doesn't mean the split should be so unequal. It would be a bit like me saying that I earn all the money in our relationship (OH is SAHD), so I should get to keep all the excess after we've paid bills

AlexLK

Mara_uk7 wrote: »

Didnt you say in an earlier post that your parents were paying for little K's Education ?

They would. However, I would like us to pay for this ourselves and stop relying on them.

Goldiegirl wrote: »

If you used the £12000 saved towards Little K's education, and the £13825 saved towards paying your debts...... you'd clear your outstanding debts.


For me it's a no brainer - clear the debts and have freedom.


I don't understand what's holding you back - it is in your power to resolve your debt situation now. Once that's done you can get on with living your life.


I mean this in a caring way, but sometimes I just want to give you a kick up the backside!!! LOL

I have £7250 left and that will be going down today as I've received an acceptable offer from the Full and Final. If we used the money saved for our son, we's have to save more on a monthly basis towards his education and this is only sending him to a very mediocre school.

AlexLK

LannieDuck wrote: »

* £25 per month on presents is a lot.

* I agree that £150 a month on clothes is ridiculous, esp if Mrs K has additional spending money that she could presumably choose to spend on clothes.

* How much emergency fund do you have already saved? (I seem to recall this has been in your SOA since the start.) If you've got £500 say, I would cut it back to £20 per month and put the other £30 towards the debt.

"Mrs. K. will keep the remainder of the money she makes. Basically whatever I earn will go towards paying our bills as stated on the SOA and part of her wages will. The rest is hers to do with as she wishes."

I'm rather uncomfortable with that - you're supposed to be a team. Yes, you're paying off debts, but that doesn't mean the split should be so unequal. It would be a bit like me saying that I earn all the money in our relationship (OH is SAHD), so I should get to keep all the excess after we've paid bills

We'll really struggle to do presents on £300 but going to have a go.

Clothes: we're going to try not to spend that.

Emergency fund: this is towards sorting the house out, so we do need considerably more than £500.

My wife wants to start saving towards a new daily car and going out with her friends, possibly taking our son on holiday. I wasn't happy about it at first but she deserves to have some fun.

Mara_uk7

AlexLK wrote: »

My wife wants to start saving towards a new daily car and going out with her friends, possibly taking our son on holiday. I wasn't happy about it at first but she deserves to have some fun.

And you dont ? Oh Alex, That is terribly sad that your wife is treating you SO badly. In any decent marriage the money is OURS, Not Hers & mine. Same as any debts are OURS ..

PS Good news on the F&F ! Hopefully leave you a little to throw at one of the other cards too !

LannieDuck

AlexLK wrote: »

I have £7250 left and that will be going down today as I've received an acceptable offer from the Full and Final.

Excellent news! So you will get your second F&F done before the end of the year afterall :T

heartbreak_star

There are perfectly acceptable state schools available. I reiterate, me and several others I know from a normal, bog-standard school are doing as well as if not better than our privately-educated peers. *eyeroll*

Best of luck for 2014 and glad to hear you're finishing 2013 on a high with the F&F

HBS x

AlexLK

Mara_uk7 wrote: »

And you dont ? Oh Alex, That is terribly sad that your wife is treating you SO badly. In any decent marriage the money is OURS, Not Hers & mine. Same as any debts are OURS ..

PS Good news on the F&F ! Hopefully leave you a little to throw at one of the other cards too !

Mrs. K. isn't bothered about where our son is educated, I am. The condition towards us saving for his education was that she gets the remainder of money left over. She seems happier with the arrangement than she has been in a long time and is very motivated with the budgeting as she's got her mind set on ordering a M235i in April.

The debts are / were mine, I kept them from her.

LannieDuck wrote: »

Excellent news! So you will get your second F&F done before the end of the year afterall :T

Onto better news, yes that's 2/4 with the cards.

AlexLK

heartbreak_star wrote: »

There are perfectly acceptable state schools available. I reiterate, me and several others I know from a normal, bog-standard school are doing as well as if not better than our privately-educated peers. *eyeroll*

Best of luck for 2014 and glad to hear you're finishing 2013 on a high with the F&F

HBS x

If I'm honest it's more about giving him the opportunities that were given to me. OK, we cannot afford to send him to the schools I went to but still, it's a start and if things pick up business wise, who knows what will happen in the future?

I wasn't looking forward to the new year until today feel a bit better about it today.