Pay off debts before Baby number 2!!

crunch_time

yes mum2one it feels very good!!!!


Payday today! Got paid more than I budgeted for so able to pay off the last £100 of the overdraft and then cancel it!! And also slush another £20 towards energy debt.


husband was delighted. We sat at the laptop together and did it whilst I hummed 'its the final countdown.':rotfl:


Signature updated, the 'rock' has been busted! Next debt to tackle - energy debt.


Crunchy xxx

abba1772

Well done on clearing the overdraft it must be a great feeling xx

crunch_time

Hey diaryland!!


Husband was very pleased about the overdraft pay off! We had a celebratory meal for £10 on Friday night and spent some time discussing what it means to us to have it paid off finally. Although we still have a little immediate debt to go, it feels like the end of that tunnel is near and we can move on with our lives. We have started an 'adventure fund' - only £50 a month at the moment but its a start!!


I was going to leave after this was paid off but I've been bitten by the debt paying off bug!!


Therefore the next aim is to pay off one of our loans early. We have a loan each; both for car purchase and debt consolidation:
Husband - £9964 about 3 years left at £255 a month
Me - £7587 about 4 years left at £164 a month


We would need to save approx. £3k to pay off husbands a year early and approx. £2k to pay off mine a year early.

We have decided on a plan of action for the new year.....

!) Any savings we make from our spend accounts e.g. money left in the food account or stuff we sell on ebay will go on repaying the energy debt and credit card with the aim of keeping us frugal and not complacent.
2) Any windfalls or extra money left at the end of the month will go into a pot which will serve as our emergency fund/buying stuff (cheaply) for the new house/loan pay off and see how we get on.
Starting things off - Husband had a letter from the bank today to say they had over charged him interest on his loan and he would be due a rebate in the next few days of £443!!! What a start to the fund!!


Signature updated with the new fund!!


Hope everyone is getting into the festivities!! It will all be over in a week :rotfl:
Crunchy xx

crunch_time

Morning!


Boys clothes finished on ebay yesterday! Going to post this afternoon and I made £30!!! Some of it didn't sell and has been relisted for another week!
This means another £30 off the energy debt bringing it to....


£230!!!!!

Its husbands pay day tomorrow so will have more update then but signature update done!!


I'm going to smash this energy debt!!


Crunchy xx

crunch_time

Just checked bank accounts and our child benefit has been paid in so I can pay off our allocated Jan payment towards the energy debt making it....


£210!!!

Crunchy xx

debtfreeoneday

Wow, well done on smashing the rock and making great progress towards the energy debt. Reading stories like yours really motivates me to kick the last bit of my debt goodbye asap!

crunch_time

Thanks debtfreeoneday!! I hope I am motivating people on here as sure have been motivated myself these last 6 months by diaries I have read on here!! A lovely circle of thanks!!:beer:


I have got the energy debt down another £20 as by some miracle husband had £20 left in his account before he got paid so have slushed that towards the energy debt making it.....


£190!!!!!

Got a few bits on ebay finishing tomorrow so will hopefully be able to slush away at least another £10 on Monday when I post.


I have also popped £740 into the emergency fund/Pay back loan early fund although this will go down next week as will need to budget for cats annual jabs and we have decided to treat ourselves to some new pillows in the sales.:T


However on the 29th the rebate for the loan will go in so the fund will be over £1000 already!!


I have decided to rename it the 'financial freedom fund' to encompass emergency fund and paying back debt.


In the meantime going to get the house sorted this week ready for a move (fingers crossed) in January and hopefully get some more things on ebay/gumtree to slush towards the energy debt.


In fact - I just remembered that MIL said she would buy our fridge freezer and washing machine off us when we move so just need to decide how mush to sell them for and that can be slushed towards the debt.


I going to see where we are with all our budgets on Monday and then see how much we need to pull the horns in for January!!!


Hope everyone had a lovely Christmas!!


Crunchy xx

debtfreeoneday

All sounding good as usual in here! Well done on those little bits towards the energy debt! Have a lovely New Year!

crunch_time

Happy New Year everyone!!!


Happy to report that managed to slush another £30 towards the energy debt. I cant remember how now as it was a few days ago but it doesn't matter as it is now down to....


£160!!!

Husband is currently doing his expenses and mileage as we speak so will know officially how much we owe on his credit card in a little while....


But have updated the signature with the energy debt.


Will update again later


crunchy xx

MrsSmith2013

Hi Crunchy!

Happy new year to you too! Hope you had a good first one as your family of four

I'm going to start myself a 2015 diary to get myself kickstarted into clearing the debts, it has to be this year!

Look forward to following your progress,
Mrs S x