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Debt free by 40 -- 19 Months and counting

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Comments

  • StressedSteph
    StressedSteph Posts: 2,834 Forumite
    Part of the Furniture Combo Breaker
    eco_farmer wrote: »
    quick thought as you were worried it might not pass the MOT would it not be better to get it checked over first before buying the tyres?(probably already done this )
    eco


    Hi eco,


    The mechanic was shocked at the state of all my four tyres and said I shouldn't be driving the car :eek:.


    They have lasted a good few years so I shouldn't be moaning. just always a nasty expense.
    Tons of folks need tyres at the moment!! We just had 2 for our land rover. Very pricey. The emergency funds are definitely a big help. I must start saving for Christmas!



    Hi SBO


    It must be the season for MOT's. Yes I must remember that I have done well to have even this small emergency fund in place to virtually cover all the MOT costs. After this I just have to hope the vehicles don't have any issues until I have built it back up again.


    I currently have £195 saved for Christmas. No where near enough, but I have promised I will make do with whatever I manage to save and nothing more.
    misstara wrote: »
    Great news about hubby's van, not so great about the car but as you say at least you have the money saved up for it. The emergency pots can be built up again, the main thing is that you were prepared and have not added to your debt :)


    Hi Misstara,


    You are right. In previous years we would just React to big bills, I feel like this year I am trying to be more Pro-Active, knowing that MOT's are coming and knowing that Birthdays and Christmas are coming whether I like it or not.

    I can't promise I will have enough in each pot, but as with the MOT's, it is proving to definitely be taking the strain off us having at least some saved.
  • dawnybabes
    dawnybabes Posts: 3,508 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Could you not put 2nd hand tyres on ? Or buy the. On line and pay a garage to fit them ?
    Sealed pot challenge 822

    Jan - £176.66 :j
  • dearlouise
    dearlouise Posts: 354 Forumite
    Ninth Anniversary Combo Breaker
    Car emergencies are the one thing I worry about... I need my car, I need to create a fund myself. I think my breaks are on the way out.

    I need to pre-empt lots of things. You're doing so well with Christmas!
  • Ciaerda
    Ciaerda Posts: 60 Forumite
    Steph, you have inspired me to listen to Dave Ramsey I love him he is brill thank you x
    Ciaerda:T
  • Morning Steph,

    Could you not buy two new tyres and two part worn tyres (and then save up for the other two?). We've just bought a new tyre for our volvo and it was £45 for a part worn one (fitted), we usually get them now tbh rather than new as they seem to last just as long!

    I've just put the trial version of YNAB on the lappy again! My laptop died and after coming back fixed they have wiped everything, all of my spreadsheets that i'd spent so long making and spend diaries, everything :( so have downloaded the YNAB in the hope I get it this time. I'm confused with working in the negative though as i've put all my projected spends in for the month but obviously I can't put the income in until it arrives. I've put it on scheduled transactions due in but I don't think it automatically transfers to available income does it :huh: I have watched a few videos and am still massively struggling :rotfl: i'm not the most logically minded person so was quite happy with my simple spreadsheets! I'll keep trying though as everyone who does use it raves about it!

    Anyway hope you have a nice chilled day xx
    Mortgage Overpayments 2024/25 - September-December, £152.46. J- £103.27, F- £115, M- £91.50, A- £100, M- £200, J- £200. J- £200. A-£200, S- £221.34. O-£200
    Total- £1783.67
    Goal pay off 1% of current mortgage in 1 year. £1650
    EF- £642.41/500
  • StressedSteph
    StressedSteph Posts: 2,834 Forumite
    Part of the Furniture Combo Breaker
    dawnybabes wrote: »
    Could you not put 2nd hand tyres on ? Or buy the. On line and pay a garage to fit them ?



    Hi Dawn,


    I feel REALLY dumb, but I didn't even know 2nd hand tyres were an option!!!.


    My tyres on my truck are a crazy size (285/55 R18's) so not sure 2nd hand ones will be readily available but will chat to hubby about it when he gets home. Certainly worth looking into. I am TOTALLY not bothered about what sort of tyre goes on my car, I just look at £££££.


    Thanks for the tip off xxx
    dearlouise wrote: »
    Car emergencies are the one thing I worry about... I need my car, I need to create a fund myself. I think my breaks are on the way out.

    I need to pre-empt lots of things. You're doing so well with Christmas!


    Hi Louise,


    I must admit to feeling pretty certain that savings pots are one of the BIG keys to getting and keeping us out of debt.


    Its those life events that throw us into turmoil and make us give up on the debt busting when we have a big set back or extra expenses like kids birthdays etc.


    I feel if I can keep my savings pots going then I won't be starting 2015 with massive Birthday and Christmas overspends to deal with before I can carry on with my debt busting.


    A lot easier said than done though. Good Luck
    Ciaerda wrote: »
    Steph, you have inspired me to listen to Dave Ramsey I love him he is brill thank you x


    Aaaaaw I super lover Dave Ramsey and wish he was my dad haha
    Glad you have found him. Have you downloaded his app?
    When I am in need of inspiration to keep going, I plug my headphones in and listen to his audio archives. Fantastic listening xxx
  • StressedSteph
    StressedSteph Posts: 2,834 Forumite
    Part of the Furniture Combo Breaker
    Morning Steph,

    Could you not buy two new tyres and two part worn tyres (and then save up for the other two?). We've just bought a new tyre for our volvo and it was £45 for a part worn one (fitted), we usually get them now tbh rather than new as they seem to last just as long!

    I've just put the trial version of YNAB on the lappy again! My laptop died and after coming back fixed they have wiped everything, all of my spreadsheets that i'd spent so long making and spend diaries, everything :( so have downloaded the YNAB in the hope I get it this time. I'm confused with working in the negative though as i've put all my projected spends in for the month but obviously I can't put the income in until it arrives. I've put it on scheduled transactions due in but I don't think it automatically transfers to available income does it :huh: I have watched a few videos and am still massively struggling :rotfl: i'm not the most logically minded person so was quite happy with my simple spreadsheets! I'll keep trying though as everyone who does use it raves about it!

    Anyway hope you have a nice chilled day xx


    Hi DFW,


    Dawn above suggested about the 2nd hand tyres too, so I will definitely be looking into it. Fingers Crossed x


    On the YNAB issue. Do you get paid Monthly or Weekly??


    We get paid weekly so ours is quite complicated but either way what I have done is:-


    In the BUDGET Screen


    I have set up Categories which are Weeks of the Month.


    Week 1
    Phone (1st - £48)
    Car Insurance (2nd - £31.72)
    Water (1st - £65)
    TV Lic (1st - 12.12)
    House Ins (7th - 56.48)
    FOOD (£60)
    FUEL (£60)
    FUN (£20)


    Week 2
    Council Tax (8th - £163)
    Electricity (15th - £27.69)


    So with it all laid out in the BUDGET screen like this, I don't need to put it all in the ACCOUNTS screen under Scheduled transactions because the Budget screen reminds me what Bill need money allocated to them each week.


    All I put in the scheduled payments section is all the incoming monies. (Hubby's weekly wage, Child Benefit, Children's Tax Credit) just so that I don't forget.


    Now, if you are monthly paid then that is super easy. You don't need the WEEKLY categories, just put all your bills in date order that they go out.


    when a bill goes out of you account, you go to the accounts section of the YNAB screen and load it in and the reconcile.


    I like to reconcile every day after updating across from my online Bank statement so that I keep it up to date. Otherwise if there is a slight difference you don't have to scroll back weeks to try and find the mistake.


    I do think YNAB will be confusing if you are living in your overdraft, like I used to be. but it is still possible, you will just have to get used to living with the red numbers all the time, but hopefully you will see the total minus figure getting lower every month.


    I have no clue if all my nattering has made any sense to you.
    Ask me anything else about it, I will be happy to chat about it. Pity we can't speak over the phone as it would be so much easier to explain. Keep watching their video's they really helped me.


    Keep going xxx
  • I've just finished reading your diary and it's very inspiring. My hubby and I have been paying our debts off for what feels like forever. In fact it's been just under two years have reduced the amount from £ £13,094.67 to £7,881.54 in that time. Still have a long way to go though hoping that by April 2015 we will be completely debt free and can finally start saving for a deposit on our first house and learning how to drive. Our debt has really held us back over the years we are looking forward to that day when we have made that last payment and feel like we can breathe.

    I have downloaded the dave ramsey app that has been recommended going to go and listen to it now whilst I do some housework
    That voice in your head that says you can’t do this is a LIAR!

    Debt Free - January 2021 :D
  • fern44
    fern44 Posts: 62 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    hi
    love it you've got a monstertruck like me great in country lanes with huge pot holes and on snow and ice !
    but about the tyres go for the new ones part worn can be a false economy and my not last that long but its more a matter of safety
    as they are more likely to go wrong.


    sometimes you need to take the long view just think how far you have got so far
  • StressedSteph
    StressedSteph Posts: 2,834 Forumite
    Part of the Furniture Combo Breaker
    I've just finished reading your diary and it's very inspiring. My hubby and I have been paying our debts off for what feels like forever. In fact it's been just under two years have reduced the amount from £ £13,094.67 to £7,881.54 in that time. Still have a long way to go though hoping that by April 2015 we will be completely debt free and can finally start saving for a deposit on our first house and learning how to drive. Our debt has really held us back over the years we are looking forward to that day when we have made that last payment and feel like we can breathe.

    I have downloaded the dave ramsey app that has been recommended going to go and listen to it now whilst I do some housework


    Hi First Trouble,


    Thanks for reading my diary and posting to say hi. x
    You have done fantastically well with your debt busting :T. I can't wait to get down to under 10k.
    You are right about how the debt holds you back. I have a friend who runs a health spa who offered me the job of doing hot stone therapy and indian head massage treatments. Trouble is I would have to spend over £500 on the training first and with all the debt I just don't have the luxury of being able to spend money before making money, so I feel I may have missed out on that job offer. I was hoping to stall her for a few months until I got passed all this MOT nightmare, but another friend has now said that she has also been offered to do this training, so think I have lost out (because of my debt :mad:). So annoying.


    How did you Like the Dave Ramsey App? If you look in the top left tab on the app you have listen to Audio Archives which will give you hours and hours to listen to while you are cleaning. I love it. xx
    fern44 wrote: »
    hi
    love it you've got a monstertruck like me great in country lanes with huge pot holes and on snow and ice !
    but about the tyres go for the new ones part worn can be a false economy and my not last that long but its more a matter of safety
    as they are more likely to go wrong.


    sometimes you need to take the long view just think how far you have got so far


    Hi Fern


    Having an all weather truck is essential for out here. We are down a no through lane and we often get snowed in, and our village got cut off by floods last December so a little cheap Nissan Micra is out of the question for us unfortunately.


    I chatted to hubby about 2nd hand tyres and he reckons they will be impossible to find for our tyre size. Its just not a common size at all. Shame but it has been three years since it has had tyres so we have had our monies worth I think.


    Hope all is going well for you xx
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