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Got My Prince Charming... Now It's Time To Turn Myself Into A Princess
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misslauren
Posts: 403 Forumite
So I have been on and off MSE forums for a while now... I have what I think are light bulb moments but they have yet to stick completely. However my current situation has got me wanting... no needing.. to change my ways for the better.
April last year I was fortunate enough to be introduced to the man of my dreams. He's sweet, funny, good looking, loves horses like me, is great around the house, a good cook, has a great job and is fantastic with money. He also spoils me rotten, flying me from Australia where I live to Dubai, Europe and New York for Christmas.
We're currently planning on moving in together (I'm just trying to get my career on track first) but as we talk about the future, about buying a house and what not, I really need to address the fact that I have significant debt which could put strain on our relationship if I don't deal with it now.
I currently owe money on my car, have two credit cards (one cancelled but with money owing) and an overdraft. Will put all the details in my signature bar. I'm currently 26, and ideally will have these paid off in three years... sooner if I can manage a few raises between now and then. Want this done with so I can start putting money away for a house... and a wedding if my man decides that's what he wants to do
He's currently been posted overseas for two months, he's military, so I've got time to myself to get everything sorted and get plans in place... Once he's back he'll want me to be moving in fairly soon...
Exciting... :j ... But scary! :eek:
April last year I was fortunate enough to be introduced to the man of my dreams. He's sweet, funny, good looking, loves horses like me, is great around the house, a good cook, has a great job and is fantastic with money. He also spoils me rotten, flying me from Australia where I live to Dubai, Europe and New York for Christmas.
We're currently planning on moving in together (I'm just trying to get my career on track first) but as we talk about the future, about buying a house and what not, I really need to address the fact that I have significant debt which could put strain on our relationship if I don't deal with it now.
I currently owe money on my car, have two credit cards (one cancelled but with money owing) and an overdraft. Will put all the details in my signature bar. I'm currently 26, and ideally will have these paid off in three years... sooner if I can manage a few raises between now and then. Want this done with so I can start putting money away for a house... and a wedding if my man decides that's what he wants to do
He's currently been posted overseas for two months, he's military, so I've got time to myself to get everything sorted and get plans in place... Once he's back he'll want me to be moving in fairly soon...
Exciting... :j ... But scary! :eek:
LBM - June 2014 DFD Goal: June 2016 (28th Bday!)
Car: [STRIKE]-$13,109.06 [/STRIKE] -$12,221.26
Amex: [STRIKE]-$7,154.38 [/STRIKE] -$8,000.00 :mad:
M/C: [STRIKE]-$3,172.73 [/STRIKE] -$3,034.50
Overdraft: -$2,500
Car: [STRIKE]-$13,109.06 [/STRIKE] -$12,221.26
Amex: [STRIKE]-$7,154.38 [/STRIKE] -$8,000.00 :mad:
M/C: [STRIKE]-$3,172.73 [/STRIKE] -$3,034.50
Overdraft: -$2,500
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Comments
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oh no, just exciting!
I'll be keeping up with you - I love a good wedding.
what are the interest rates? Have you worked out what to tackle first yet?0 -
Interest rates.. man I don't like Australian banking, it's hard to get a deal =(
Car Loan - 13.74% - Fixed payment of $165 per fortnight.
Have been paying 2.5 the fortnightly payment each month which works out at an extra $660 payment each year.
Mastercard - 13.24% (Closed Account)
Planning on making extra repayments as I can't withdraw or access from this at all.
Overdraft - 17.00%
Have to talk to my bank account about this, currently every dollar put in automatically goes to my car loan account, which is ahead in payments... Need to follow up.
AMEX - 19.99%
Definitely the highest ... luckily I currently have $3.5k stashed in a homesaver account which the government has decided to unlock as of July 1 next year, so that will go straight off this card.
Last time I checked it was somewhere in the realm of $2.5k interest each year... :mad::mad::mad: stupid, stupid shopaholic younger me.LBM - June 2014 DFD Goal: June 2016 (28th Bday!)
Car: [STRIKE]-$13,109.06 [/STRIKE] -$12,221.26
Amex: [STRIKE]-$7,154.38 [/STRIKE] -$8,000.00 :mad:
M/C: [STRIKE]-$3,172.73 [/STRIKE] -$3,034.50
Overdraft: -$2,500
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We all do that - rather than overpaying the car loan can you over pay the Amex?0
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Yes... Would make more sense to overpay the AMEX wouldn't it..
Just sat down on YNAB.. I bought the software last year but hadn't used it much, have been tracking my expenses the last six weeks.
If I stick to my budget I should be able to put 30% of my take home wage towards securing my finances... which works out at $954 a month.
So the goal until the end of the year at least will be:
$100 - Emergency Savings Fund
$365 - Car Loan Repayment
$61.50 - Overdraft
$65 - Mastercard
$362.50 - AMEXLBM - June 2014 DFD Goal: June 2016 (28th Bday!)
Car: [STRIKE]-$13,109.06 [/STRIKE] -$12,221.26
Amex: [STRIKE]-$7,154.38 [/STRIKE] -$8,000.00 :mad:
M/C: [STRIKE]-$3,172.73 [/STRIKE] -$3,034.50
Overdraft: -$2,500
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Great idea to go after Amex first.
Keep going.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
Double whammy for this month... one of the pitfalls of not being organised is getting a $450 electricity bill and not having planned for it at all....
Then I got a $236 fine for not having my P plates on my car while driving... wasn't speeding, wasn't doing anything illegal.. just didn't have the plates on... Stupid, stupid Lauren :mad:
Hmph... don't like spanners being thrown in the works...
LBM - June 2014 DFD Goal: June 2016 (28th Bday!)
Car: [STRIKE]-$13,109.06 [/STRIKE] -$12,221.26
Amex: [STRIKE]-$7,154.38 [/STRIKE] -$8,000.00 :mad:
M/C: [STRIKE]-$3,172.73 [/STRIKE] -$3,034.50
Overdraft: -$2,500
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So good news and bad news, bad news first.. due to expenses listed previously my AMEX has increased, which I'm not happy about.
Good news.. I've got a job interview on Monday for a job near where my partner lives (he's been 3 hours away for the last 12 months). If I get the job it is a 33% raise which will be AMAZING in tackling these debts, plus my travel and living expenses will go down as I'll be moving in with SO.
I've got my fingers crossed so much they're tangled....LBM - June 2014 DFD Goal: June 2016 (28th Bday!)
Car: [STRIKE]-$13,109.06 [/STRIKE] -$12,221.26
Amex: [STRIKE]-$7,154.38 [/STRIKE] -$8,000.00 :mad:
M/C: [STRIKE]-$3,172.73 [/STRIKE] -$3,034.50
Overdraft: -$2,500
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As you plan on moving in with your prince soon, how about decluttering everything you can through eBay so that you also raise some extra dollars to chuck at the Amex?What would you get if all you got was what you were thankful for?0
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Decluttering is definitely the go... and will be necessary because I got the job!!!:j:eek::beer:
So excited, not the least because it is an $11k pay rise... will really, really help with the debt reduction. I have just over two weeks left in my current job then it's moving time! Haven't left a whole lot of time to get organised; I'm moving cities.. .. but fingers crossed it will all work out.
Will also have time to finish my studies now that I'll only be commuting 20 minutes a day as opposed to two and a half hours... Not going to know myself!!!LBM - June 2014 DFD Goal: June 2016 (28th Bday!)
Car: [STRIKE]-$13,109.06 [/STRIKE] -$12,221.26
Amex: [STRIKE]-$7,154.38 [/STRIKE] -$8,000.00 :mad:
M/C: [STRIKE]-$3,172.73 [/STRIKE] -$3,034.50
Overdraft: -$2,500
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Have paid off a bit from each of my debts (bar the overdraft that feeds my car loan).
Nice to see those numbers start their long crawl down
LBM - June 2014 DFD Goal: June 2016 (28th Bday!)
Car: [STRIKE]-$13,109.06 [/STRIKE] -$12,221.26
Amex: [STRIKE]-$7,154.38 [/STRIKE] -$8,000.00 :mad:
M/C: [STRIKE]-$3,172.73 [/STRIKE] -$3,034.50
Overdraft: -$2,500
0
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