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

bess1234_2

Well done. When you have money you can do what you like. How did you knock the debt down ?

maddiemay

Reducing figure looking good, well done, you can do it, just keep plodding.:D
MM

AlexLK

mum2one wrote: »

thats brilliant news about the debts xx

Thank you.

bess1234 wrote: »

Well done. When you have money you can do what you like. How did you knock the debt down ?

:rotfl: I don't have any money, my salary goes entirely on our bills. Not once have I paid off the debt from earnings, it has been from me selling some of my possessions.

ETA: Thank you, Maddie.

maman

Many congratulations Alex:T
I do hope you're feeling justifiably proud of yourself. Stop worrying about owing money on the house, just focus on getting that debt down to £0!


If you've cleared your cards, what are the other debts? Can you just pay them off a bit at a time? Do they accrue interest?

AlexLK

maman: Thank you.

I am pleased the debt is getting lower. However, not "proud" as such, especially because all I've done is sell things - I have not paid this money from earnings (discounting the appreciation of many of the things I have sold). As for the house, we have little equity and feels very much like we are merely renting a house that requires quite a bit of money throwing at it from the bank. Owning the house outright seems nothing other than a long, long way off at the moment and by then, should we not spend money on maintenance and renovation, it could well have fallen around us. Though in reality, my "forever house" is the place currently in my parents' custody and not this one, not always going to be in this situation, just feels like it sometimes.

I've not cleared all the cards: two I cleared at the very back end of last year were with collection agencies (I spent an awful long time completely ignoring this and hoping it would go away), therefore I paid a lot less to clear those cards than the amount actually owed. The one I have just cleared was with the original creditor and there's one left, which is also with the original creditor but this does not accrue interest.

The last debt is a bank loan which is paid each and every month; this accrues interest but has little time left to run. Hope that makes sense, it's all rather complicated.

maman

AlexLK wrote: »

I am pleased the debt is getting lower. However, not "proud" as such, especially because all I've done is sell things - I have not paid this money from earnings

I suppose it matters to you (or you wouldn't be stressing it) but what matters is you've paid it off. It's all swings and roundabouts really as the things you've sold must have come out of earnings originally (or on credit) so they were yours to sell. Rather splitting hairs IMO.


I know you are trying to increase your earnings but meantime all you can do is make what you do earn stretch as far as possible (minimise fuel costs, meal plan, cheap treats only).


On your mortgage, I believe the vast majority of people are fortunate to even have a toe on the housing ladder by your age. You have a home and, in time, you'll be able to do a few more renovations. Count your blessings!!:)

RainbowBridgeReturns

Hi Alex,

Maybe you see yourself in your little DS, and you know what worked for you, and what your parents could have done differently that would have enhanced your life.

My DS couldn't be accommodated in a state primary school because of special needs. He was home schooled for a couple of years, then driven to a little village primary school in another neighbourhood and given a lot of one to one support. He is now in a state high school, and doing extremely well, he is one of the top in his year in physics/computing and graphics communication and on course to go to university to study Architectural Engineering.

I have just had the mother of all battles with the high School because, due to cuts, they have made the physics teacher redundant and DS can't finish his course there, absolutely ludicrous. We now have a tailor made solution for him.

Because DS didn't fit into conventional boxes, I have had to fight to get him a decent education, so I can understand your concerns x.

AlexLK

maman wrote: »

I suppose it matters to you (or you wouldn't be stressing it) but what matters is you've paid it off. It's all swings and roundabouts really as the things you've sold must have come out of earnings originally (or on credit) so they were yours to sell. Rather splitting hairs IMO.

I know you are trying to increase your earnings but meantime all you can do is make what you do earn stretch as far as possible (minimise fuel costs, meal plan, cheap treats only).

On your mortgage, I believe the vast majority of people are fortunate to even have a toe on the housing ladder by your age. You have a home and, in time, you'll be able to do a few more renovations. Count your blessings!!:)

Thanks, yes the main point is I've paid it off. As for the things I've sold, most of the items I'd had for a rather long time.

I'm hoping the hard work will pay off eventually and my earnings will go up, it's often hard to stay motivated when I seem to be putting a lot of hours in for no real reward. Mind, there have been some positives on the business front lately and the music teaching should get easier when I've built a library of material (making resources and games for pupils seems to take much more of my time than the actual lessons). Often, being "frugal" seems an utter waste of time when Mrs. K. thinks nothing of spending quite a lot of money on non-essential items for herself. Funny, it used to be the other way.

As for the house, it was a bad choice but for what we paid, we couldn't have found anywhere else with as much space / in the same location. Looking towards the positive, if we could afford to renovate and refinish, it would be worth a lot more than we paid for it.

RainbowBridgeReturns wrote: »

Hi Alex,

Maybe you see yourself in your little DS, and you know what worked for you, and what your parents could have done differently that would have enhanced your life.

My DS couldn't be accommodated in a state primary school because of special needs. He was home schooled for a couple of years, then driven to a little village primary school in another neighbourhood and given a lot of one to one support. He is now in a state high school, and doing extremely well, he is one of the top in his year in physics/computing and graphics communication and on course to go to university to study Architectural Engineering.

I have just had the mother of all battles with the high School because, due to cuts, they have made the physics teacher redundant and DS can't finish his course there, absolutely ludicrous. We now have a tailor made solution for him.

Because DS didn't fit into conventional boxes, I have had to fight to get him a decent education, so I can understand your concerns x.

Hi there.

I suppose I do see a bit of me in him - hope he grows out of it!

It is tales like this one that makes me very reluctant to have a state school educate my son; I very, very much doubt any independent school would make a Physics teacher redundant. Actually surprised this is happening in a state school, as Physics would be a core subject, would it not?

Pingu2

AlexLK wrote: »

I very, very much doubt any independent school would make a Physics teacher redundant.

Sorry but why would an independent school not make a Physics teacher, or any other for that matter, redundant. Are they Teflon coated or something? A whole independent school with a good reputation closed with no notice quite recently. I am guessing those teachers where 'redundant'.

I would not normally comment but I am following your thread with increasing incredulity. You, as you and your wife, have enough money to renovate your house but you have no balls to get a grip of the spending your wife does. You, as in you and your wife, choose to spend the money elsewhere and then you, and I think its you alone here, moan and seek sympathy from gullible people who post on this thread. As AlexK you appear to thrive on the attention you get because when it wanes i.e. when followers and posters fall by the wayside, you trot out some real corkers and sit back and bask in the reaction from the next set of readers.

Good luck AlexK

heartbreak_star

How is he supposed to control his wife's spending, Pingu? She has her own money and her own cards. My OH is similar.

Alex, I wonder whether the redundancy has happened because they have another teacher that can also teach physics? Maths teacher maybe? If so, then it sort-of makes sense for cost-cutting, sad though it is.

HBS x