Diary of plans, lists, goals and challenges

debtfreeoneday

If it was me, I'd expect and my DH would offer anyway to pay for it out of his savings / pocket money especially for two and if we'd agreed, he wasn't going on one.

Not being mean, but you are both working towards an end goal meaning a better life for you both.

Lovely about the Christmas present, what a lovely Great Uncle you have. And I bet so great to have paid off a CC with it. My house insurance is due at the end of the month, just waiting for our renewal notice to start searching for that, but we always pay in full - that said I didn't realise they slapped interest on it - naughty!

fyggy

debtfreeoneday wrote: »

If it was me, I'd expect and my DH would offer anyway to pay for it out of his savings / pocket money especially for two and if we'd agreed, he wasn't going on one.

Not being mean, but you are both working towards an end goal meaning a better life for you both.

Lovely about the Christmas present, what a lovely Great Uncle you have. And I bet so great to have paid off a CC with it. My house insurance is due at the end of the month, just waiting for our renewal notice to start searching for that, but we always pay in full - that said I didn't realise they slapped interest on it - naughty!

Thanks for the reply debtfreeoneday. I'll bring it up again in a week and see what he says.:money:

Well, I wonder if it's a new thing then, adding interest to pay monthly? As I was sure it was same price annual as monthly last year when I took it up. The other thing that annoys me is this automatic renewal thing. Seems to be on all insurances these days. And if you want to downgrade anything you have to call, yet to upgrade or take up a quote you can do it online? Doesn't seem right to me. Not allowing full free choice having to speak to a sales person who'll try and sell you their product no matter what.:mad: Anyway, worse things in life!

fyggy

Hello hello,

Just been doing my debt payments and totals, so here's an update:

End of Jan totals

Loan 1- originally £10,000 taken out in March 2012. 5 year term. 6% APR. £269.63 PCM
Outstanding: £9,663.67
Loan 2 - originally £13,000 taken out in February 2013. 3 year term. 5.119% APR. £352.48 PCM
Outstanding: £7,803.30
Total loans now = £17,466.97 (approx according to my Debtpayoff app)

HP - originally £1800 taken out in June 2013. Deposit and then 10 payments at £155.56 until April 2014 = £155.56 to go

CC 1 - £2,999. 0% to July 2014
CC 2 - £0 (~£500 on 0% til Mar 14) 0% to July 2014
CC 3 - £2,025. 0% until Nov 2014
Outstanding: £5,024

OVERALL DEBT TOTAL - £22,646.53

:T :T :T

fyggy

I've not been about, but I've not fallen off the bandwagon! I started my new job at the start of January. It's given me a £250 wage drop which is around what I thought it would. The HP is now paid off. The remaining £250 which was on 0% until 14/4/14 has been paid off CC1. DH this month has secured a new job, a promotion! Woo. And this one means he'll get a pay rise of nearly 3k pa, so around £250 PCM- it'll make up for my salary drop! :money:

Loans are below £15k now and CCs below £5k. All getting there :j I think the finance companies think so too- both CCs have increased our credit limits without our asking and one of the loan companies keeps writing to me offering me more credit. No thank you to all of these. The only way these figures are going is DOWN!


Belated March totals

Loan 1- originally £10,000 taken out in March 2012. 5 year term. 6% APR. £269.63 PCM
Outstanding: £9,219.94
Loan 2 - originally £13,000 taken out in February 2013. 3 year term. 5.119% APR. £352.48 PCM
Outstanding: £5,102.98
Total loans now = £14,322.92 (approx according to my Debtpayoff app)

HP - originally £1800 taken out in June 2013. Deposit and then 10 payments at £155.56 until April 2014 = £0 PAID OFF

CC 1 - £2,696. 0% to July 2014
CC 2 - £0 PAID OFF
CC 3 - £1,988 0% until Nov 2014
Outstanding: £4,684

OVERALL DEBT TOTAL - £19,006.92

fyggy

A small update - I had a crash last week in my car, no one injured. I've had this car for 10years and had hoped to get another year or two out of it- it's a 51 plate but beautiful and rare. The crash has caused only cosmetic damage to mine - it'd need a new bumper (I have a spare), grille and bonnet. The insurance company rang me today to say they have looked at it and said rather than immediately write it off due to its age I have 3 options. They say it's a "borderline write off". I thought it was a forgone conclusion after two conversations with them!

Options:
1. They take it to one of their garages for a full quote and either repair it or write it off.
2. They give me the car back along with £1,300 (this is less my £200 excess) for me to repair it and then provide them proof of my repairs.
3. They write it off. They can't give me a figure unless I agree to go down this route.

My DH & I now car share to work as we work the same hours at the same place. My car since this began and more recently has become a little run around- 4k miles pa- I only use it to visit my Mum and family in the next town or to run errands. DH thinks we need another car, i.e. be a two car family. I'm not sure we do need two cars. I'm torn with first what to do about my current car and whether if we write it off we need another at the moment. All I can think is the money we'd get from my wee car could pay off one of the cards. My car is worth £3k I think. It's a head vs heart thing! I feel terribly guilty for considering writing it off if there's a chance it doesn't need to be.

I could fix up my car with the £1,300 I'm sure. But it was having problems, engine warning light on a lot, not always starting, all the paintwork was peeling and bubbling, all the brakes were due to be replaced in a few months and 2 tyres would need replacing later this year (judging on how long they usually last). I doubt I'd have ever wanted to sell my car and would more than likely drive it into the ground literally. It's expensive in today's world on petrol and car tax (it's a GTI). My insurance is cheap though now due to my age, years of driving and 9yrs NCB (which is thankfully protected!).

If we did get another car we'd not need a powerful one. We use DHs as the main one and it is good on the motorways. I'm leaning towards, if mine is written off, trailing being a one car family for a bit.

fyggy

Made a decision re the car. Decided with a heavy heart to write it off. Now trying to get a good price for it from the insurers. Got them up 72% from their original offer so far. But I have a figure a little higher in mind that the car is worth. Speaking to them again on Tuesday. I held off saying anything on Facebook as I knew I'd get everyone saying for me to buy it back or repair it. Didn't want to be swayed. Sensibleness won.

Being a one car family has been a bit of a struggle, mainly for social activities wise. Going to use the money from my car to pay off a CC so I've just made minimum payments on them so far this month- I will do updated totals once I've had my payout.

Yesterday we decided on a replacement car after much consideration and thinking of the future and where our life is going- opted to get a car on PCP. Managed to haggle the dealer down and get extras added in and the monthly amount is completely doable. Our new plan is to pay off the remaining CC by the end of the year. By doing this we'll also not have to worry about switching to another 0% deal.

fyggy

Hello MSErs

Well after a month of haggling with the car insurers I got them up 90% on their initial offer and to the price I wanted for my car settlement.

The cheques they sent separately at weekly intervals each took 5 working days to clear so I have just sent the final payment and paid off one of the CCs to the tune of £3,100! Super excited to see the £0 balance :T

June totals

Loan 1- originally £10,000 taken out in March 2012. 5 year term. 6% APR. £269.63 PCM
Outstanding: £8,771.71
Loan 2 - originally £13,000 taken out in February 2013. 3 year term. 5.119% APR. £352.48 PCM
Outstanding: £6,673.99
Total loans now = £15,445.76 (approx according to my Debtpayoff app)

HP - originally £1800 taken out in June 2013. Deposit and then 10 payments at £155.56 until April 2014 = £0 PAID OFF

CC 1 - £0 PAID OFF
CC 2 - £0 PAID OFF
CC 3 - £1,860 0% until Nov 2014
Outstanding: £1,860

OVERALL DEBT TOTAL - £17,305.76

Rejigged one of my loan totals as I'd managed to put in it finishing a year sooner! So the balance my app was telling me was for 12months times. Whoops.

Priority now is to pay off remaining CC before the 0% deal ends in November :cool:

apple_muncher

Well done on sticking to your guns about the car! How wonderful to see that much come off your debts! Of course, there's now the reality of living without the car, but I guess you've been doing that anyway while waiting for a decision.

Your debts figures are plummeting - congratulations! :T

fyggy

I got my new car last week. It's beautiful! Very cheap to run compared to my old car! I had to pay a £500 deposit, so this month I've not made as much of a dent in my remaining CC as I'd hoped. But will be able to up the payments from next month.

July totals

Loan 1- originally £10,000 taken out in March 2012. 5 year term. 6% APR. £269.63 PCM
Outstanding: £8,545.99
Loan 2 - originally £13,000 taken out in February 2013. 3 year term. 5.119% APR. £352.48 PCM
Outstanding: £6,349.88
Total loans now = £14,895.87 (approx according to my Debtpayoff app)

HP - originally £1800 taken out in June 2013. Deposit and then 10 payments at £155.56 until April 2014 = £0 PAID OFF

CC 1 - £0 PAID OFF
CC 2 - £0 PAID OFF
CC 3 - £1,840 0% until Nov 2014
Outstanding: £1,840

OVERALL DEBT TOTAL - £16,735.87

Getting there. Target is to get this CC paid off before my 0% runs out in November. That works out at £460 PCM which is doable with careful planning and hopefully increasing income from my 2nd job.