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Mr and Mrs K's New Journey to a Debt Free Life.
Comments
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Friday 9th January, 2015.
Dear Diary,
Well, after reading somewhere on here that it's now the weekend, it dawned on me that I often miss whole weeks, including this one, in some kind of haze. Not really sure how things can get better and I'm aware I've got so much to be thankful for which only leaves me more annoyed that I seem to find the day to day impossible and be permanently depressed. Convinced this does not help my judgement of situations and led to me stuffing unopened letters into a draw and letting the debts pile up in the first place.
In many ways I wished I'd paid off the reminder of the debt in December as planned because now I'm struggling to let go of the cash and actually pay back the money I owe.
Yours Faithfully,
Alex.
It could be you've found yourself in a weird kind of comfort zone of being effectively 'debt neutral' - you have the pot of money to pay it off.
Only suggesting this on the basis that I'm feeling kind of strange about when the debt has gone in the coming months and having choices again.
Take a deep breath and just pay it
Back on the DFW Wagon:
CC - £3,300 on 0% til 04/2020
CC - £4,500 on 0% til 02/2019
Loan - £12,063.84 as at 4/1/180 -
Thanks, Ali.
I think you're right about the debt. Yes, I just need to pay it and face that if something happens between my wife and I there is money I can access, even if I don't want to.2018 totals:
Savings £11,200
Mortgage Overpayments £5,5000 -
Yes, it's become a bit of a security blanket.
Pay it off and start saving again, knowing this time it's a fund you can keep and is all yours Back on the DFW Wagon:
CC - £3,300 on 0% til 04/2020
CC - £4,500 on 0% til 02/2019
Loan - £12,063.84 as at 4/1/180 -
I'm glad you don't take offence at my 'inquisition' and bossy comments. They're well intentioned but you're a good sort Alex.
I managed to make around £10,000 from "extras" last year which was reinvested in the business. Therefore, I do not see why it's not doable this year?
Great that you made the £10 100. I don't remember saying it wasn't doable just that why bother with overpaying. Now you've explained it might become part of your future portfolio etc. it makes more sense but I still think you need to get the feel of being solvent.
Currently, my business is more a hobby than anything.
Yes, just on the business. The music lessons are done in my free time and I put the money straight into the business.
Stop thinking of your business as a hobby though and start focusing on it as a job (as your goals for website etc show).
She won't be contributing to the costs but will help me with some of the work.
Why would that be? It's her home too, why is it just your responsibility to sort it out? And (as I said above) she'll benefit whether it's in a more comfortable home or a more saleable one if/when you move to the 'big house'.
May I ask your reasoning? I am not going to dismiss the prospect of my son attending the pre-prep years at our village school. Currently, there are four potential schools: my old one, another prep school and two village schools. I intend to visit all the schools in question with my son and see which he seems to like the most.
The reasoning is what you've heard before from me and others that I think it would be good for LittleK to live in the 'real world' for a little longer and not just mix with privileged children that he'd meet at pre Prep. He'd then end up with a much more balanced view of the world long term. That's for him but for you I think it would help your self esteem if you got your finances sorted and properly 'in the black' before taking on additional expense.
Finances are not really an issue as my parents understand I'm not willing to help them out with their properties for free. The village schools are on the list for different reasons (locality, less hours, a chance for him to make some local friends and focus on his music making).
I can understand that they'd volunteer to pay for his education and/or that you could explain it to yourself by seeing it as payment for managing the BTLs. My standpoint is that you're so keen to beat yourself up as worthless that it would be good for you to feel that you can earn a living/stand on your own two feet/organise your own family even though you don't 'need' to if you see what I mean.0 -
Just bloody well pay it off Alex. NOW
. A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort Mortgage Balance = £0
"Do what others won't early in life so you can do what others can't later in life"0 -
Pay it off Alex you have done the work enjoy leaping the final hurdle. Next stage is savings.0
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Yes, it's become a bit of a security blanket.
Pay it off and start saving again, knowing this time it's a fund you can keep and is all yoursJust bloody well pay it off Alex. NOW.tootallulah wrote: »Pay it off Alex you have done the work enjoy leaping the final hurdle. Next stage is savings.
Thanks all, I have got as far as writing a cheque today. Now all that remains is to post it on Monday.2018 totals:
Savings £11,200
Mortgage Overpayments £5,5000 -
I'm glad you don't take offence at my 'inquisition' and bossy comments. They're well intentioned but you're a good sort Alex.
Thank you.
Great that you made the £10 100. I don't remember saying it wasn't doable just that why bother with overpaying. Now you've explained it might become part of your future portfolio etc. it makes more sense but I still think you need to get the feel of being solvent.
Sorry, I think I had misinterpreted your message. You are likely right regarding financial solvency. I cannot help but wonder if time is running out for me to be in a position where I can invest money in property? Currently, I'm 34 and I know there's going to be a few years worth of saving deposits and also staying "off the radar" so far as credit is concerned to be in with a chance of a BTL mortgage.Stop thinking of your business as a hobby though and start focusing on it as a job (as your goals for website etc show).
That is a problem for me, I must admit. I tend to think of my work as "something to do" rather than as a job. This is probably one of the reasons there are times that I fail to deal with the paperwork or other parts I don't enjoy. Not really sure how to get out of this mind set though?Why would that be? It's her home too, why is it just your responsibility to sort it out? And (as I said above) she'll benefit whether it's in a more comfortable home or a more saleable one if/when you move to the 'big house'.
She is saving towards a new BMW, still.The reasoning is what you've heard before from me and others that I think it would be good for LittleK to live in the 'real world' for a little longer and not just mix with privileged children that he'd meet at pre Prep. He'd then end up with a much more balanced view of the world long term. That's for him but for you I think it would help your self esteem if you got your finances sorted and properly 'in the black' before taking on additional expense.
Thank you. It's certainly something for me to think about. I do a little work for my old school (music related) and going back there as an adult I do know what you mean by some of the children being privileged. The amount of technology some of these children seem to have is unreal and I must say I really don't want to be going down that route with my son for various reasons. In an ideal world I would educate him at home but my wife is having none of that and I do understand he needs to socialise with other children.
Not sure anything will help my self esteem.I can understand that they'd volunteer to pay for his education and/or that you could explain it to yourself by seeing it as payment for managing the BTLs. My standpoint is that you're so keen to beat yourself up as worthless that it would be good for you to feel that you can earn a living/stand on your own two feet/organise your own family even though you don't 'need' to if you see what I mean.
That is a good point. Not sure I'll ever have any feeling of self worth again so I'm certainly not going to risk my son's education for the sake of trying to make me feel better about myself but thank you anyway.2018 totals:
Savings £11,200
Mortgage Overpayments £5,5000 -
Sunday 11th January, 2015.
Dear Diary,
Today has been something of a strange one and it seems rather exciting to think this time next week I should be completely free of personal debt. Yes, I plan to send the cheque tomorrow.
It seems my wife is also somewhat impressed as she has decided she must clear the balances owing on her credit cards from last year too. Whilst I am pleased, I won't be surprised if this isn't just something for her to say and next week she'll be back to spending her Saturday shopping. Her latest expenses relate to staying away with work, apparently she finds it productive to be near the site when she's meant to be working from home. Not really sure how to address that one but it is costing quite a bit of money.
I think I must be getting used to not spending money at every opportunity as I do try to think if I'm getting a good deal these days. Pre-MSE I was somebody that didn't know the cost of something basic like food shopping despite being the one that did it. I also didn't care if I filled the car with petrol at an out of town place charging 10p per litre more than S.burys. Rather embarrassing to look back and realise how much I was wasting everyday. Whilst I'm not exactly good at being frugal, I do not want to slip back into the old, unsustainable, habits. I realise that I often write something similar on here but it serves as a reminder for me not to be so stupid in the future.
Yours Faithfully,
Alex.2018 totals:
Savings £11,200
Mortgage Overpayments £5,5000 -
Hello Alex,
Well done :beer:
It doesn't matter if it doesn't materialize that your wife doesn't pay off her debts. At least you are showing her what life might be like in the future and are being a role model. Fantastic work. You're right, she might go back to her old ways next weekend but at least she is demonstrating that she is starting to think slightly differently. That is a huge step forward from when I last commented on your diary. A LONG time ago as I think we got a bit cross with each other
Glad to see you didn't give up and you are doing brilliantly.
Hope Little K is well.
TTFN xE.F. #38 240.55/1000 SPC8 #375
DFBXmas 2015 #162 18554 /18554 100%0
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