Debt free before I'm 40 snowball calculator says yes

buddiebabe

Hi

It's been a long time since I posted on here but the last few days have made me realise I need to be more proactive in reducing my debt. So here I am again.

I still have to check my accounts and do a grand total but according to last details input into the snowball calculator my debt stands at £17709.08 and my debt free date is October 2017 which is 3 months before my 40th birthday.

I have really let things slide when it comes to money I got a promotion at work about a year ago and since then things have been a bit easier. I have also cut my hours in my second job so the extra I would have had seems to have just been swallowed up! I no longer know how much is in my account or what I still need to pay... Usually I would have known this but now I find myself paying bills just before they are due so need to get back on track.

I am going to go see how things stand then come back and post the true picture.

Buddiebabe xxx

Siberianski

october 2017 i am jealous, mine is 2022 at the moment. I really need too ring cccs and up my payments lol

GunWharf

Good luck and it is possible! :j

buddiebabe

Thank you I know I can do this just need to get back on track.

Ok so here is the debt outstanding at today:

Tesco £1920
MBNA £2000
RBS MC 1 £7320
RBS MC 2 £5360
DEBENHAMS £484.67
Loan from sister £464.41

Total debt outstanding £17549.08

I still have minimum payments and interest to go onto DEBENHAMS and RBS MC2 but not due statements until 20th of the month or after so will pay these when they are due.

I make enough to pay all direct debits and put away money for house, car expenses and Xmas. I pay £630 per month towards my debts every month. I should really be overpaying my RBS credit cards first however when I checked it actually makes only one month of a difference and pennies at the end of the day and I think I would feel better having the smaller ones gone first will make me feel like am getting somewhere.

The loan from my sister I am paying back at £100 per month so only 5 months and that will be gone then I'm going to get the debenhams one paid off. If possible I hope to pay both these off before the end of the year.

A wee bit of info about me. I live with my husband in a one bedroom flat which I would love to move out of but until the debt is paid off we are stuck here. It is our flat but we have an outstanding mortgage of approx £55k and not much equity in it. We both work full time, I also have 2 part time jobs and run a small business in my spare time.

I'm 36 years kid and my husband is 32 and we would live to have children however I keep putting it off once the debt has cleared then we can have them but there is no guarantee it will happen especially at that age so we have decided to start trying for a family now. I know this will affect my debt free date but if we don't try now then it may never happen.

Anyway I'm off to see what I have in my purse to last me this week

Buddiebabe xxx

Igamogam

Your snowball calculation sounds interesting - I have a similar amount of debt but snowball was giving me a silly date in the future - must have input details wrong. Hmmmm you have inspired me to back and have a look at it again!

Good luck with Debt free journey and journey into parent hood.

*subscribes*

jwil

Good luck

buddiebabe

Well so much for me keeping up to date must try harder. I have paid everything I need to pay this month so my debt won't be changing so here's how things stand

Tesco £1920 no change
MBNA £2000 no change
RBS MC 1 £7320 no change
RBS MC 2 £5360 now £5340
DEBENHAMS £484.67 now £430
Loan from sister £464.41 now £445.31

Total debt outstanding £17549.08 now £17455.31 and debt free date stands at September 2017 which is 4 months away from my 40th birthday. It is also one month earlier than in previous posts so is going in the right direction

Just looked at calculator again and if I had a spare £130 then I'd be able to take another month off it but I don't so not even going to think about trying to find that!

I am going on holiday next week with my husband and my parents. We are off for a week in a caravan that we booked through the daily mail deal. I've managed to get £50 of meal tokens for ask Italian which will do us for one dinner :eek: it's expensive but it will be our treat and managed to get sealife tickets using my club card vouchers so that's one wee day trip sorted. I'm hoping the weather holds out for the week we are away cause it will make such a difference if it does.

I was hoping I'd have lost a bit of weight but that's not happened and a lot of my clothes no longer fit me I just need to get things sorted out and ready this week.

I have spent this morning clearing out the kitchen, cupboards, fridge and freezer also done 3 loads of washing....I have way too many clothes...

Going to hang another load out then sit out and enjoy the sunshine for a while. My hubby is lying in bed feeling worse for wear after a works day out yesterday so is missing out on the sun :rotfl:

Need to take a trip to shops to buy some bread and some garlic butter for the steaks for tonight just can't be bothered yet!

Hope everyone is enjoying the sunshine

Buddiebabe xxx

buddiebabe

Managed an hour relaxing in the garden then back inside to get some ironing done. I sorted out some clothes and have put them on my local Facebook selling page and so far have managed to sell 4 things for a grand total of £8.00 all go be collected tomorrow. This will go towards holiday fund either as spending money or to get something to wear.

Once the holiday is over I will be focusing all my energy on debt busting and decluttering... Honest I will

Off to bed now clothes all ready but still got lunch to make will do that in the morning

Buddiebabe x

buddiebabe

Well so much for my debt not changing. I got the money saving expert weekly email and read about the 0% Barclay card for 33 months so in a fit of madness I applied for it.... To my amazement I was accepted :j didn't think I'd get a good credit limit but was shocked to say the least when I got my credit limit £13900 :eek: kept thinking it was a mistake but no it's right.

Card was received this morning so I have already transferred my Tesco, MBNA, RBS MC2 and DEBENHAMS in full so once these go through that will be these cards gone... Well I know there will be a few weeks or days interest on some of them.

I have also transferred £2000 to RBS MC1 to bring this balance down to.

I have increased my debt now by incurring a 3.5% fee for transferring, however, 2 months interest covers that. It also means that my minimum payments are now more manageable. I have reduced the amount that I am going to pay from £630 a month to £600 to give us some breathing space as our budget was already very tight.

The new credit card now gives a debt free date of 32 months which is February 2017 which is one month after my 39th birthday.... So my aim is now to get my debt paid off when I'm 39 to give us chance to save for my 40th

Am off on holiday on Monday and whilst we don't have much spending money I'm looking forward to the break just hope the weather stays dry or it could be a very wet cold caravan holiday.

Will update once am home
Buddiebabe x

buddiebabe

Hey

Got back from holiday on Monday and I am thoroughly depressed :(:( I actually don't want to do anything or see anyone.

It was a great holiday just didn't want it to end. Was so nice just going into a clean and clutter free caravan. Was so easy to get up in the morning make a coffee have some breakfast then clean up before heading out knowing that when we got back there was nothing to do except relax.

Got home on Monday to a hoarded house with stuff lying around everywhere makes me hate my house and myself for letting it get in this mess. I haven't got dressed since I got home just put my pyjamas on and am still in them

Yesterday I decided to do some cleaning and I got the bathroom cleaned and cleared out the medicine cabinet and also got rid of a lot of half bottles of unused toiletries. Not very MSE but they have been in there for years and I have loads of good things I never get round to using so now I may get the chance. It turns out that the only room in the house that I now want to spend any time is the newly cleaned and clutter free bathroom. If only it would be that easy to clean the rest of the rooms I'd be more happy to spend time in the house.

Sorry for the long depressing post just needed to put it out there

Buddiebabe x

Olivia-Louise_2

Hope you start feeling better soon. As for the de-cluttering do one thing at a time, break each room down into a list of smaller jobs. Don't spend hours doing it just do one small job and it will make it feel less daunting x