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Our Journey to a Debt Free 2016
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You are doing great DF, you must be feeling a bit like that too already?
Obviously we aren't on the home straight yet, not even halfway, but it's all feeling doable today rather than a giant mountain to climb.
I have had a pathetically unproductive day today. I'm freezing and just can't seem to motivate myself to do anything, not good. Counting down to the school run! Early night tonight, need to make up for it tomorrow!Total Starting Debt August 2014- £38,061
Current Debt- £3600
Mortgage Offset Savings- £600
90.5% paid off so far...0 -
We need some days like that don't we?
I do know what you mean re feeling like I am getting somewhere - I think I need a few more months of it to get going. My momentum has started - I just need to see the results.
Is your DFD still Dec 2016?Debt - CCV £3792
CCB £1383 (took a hit for a holiday)
Loan 1 £1787
Loan 2 £1683
Total £8601 Was £393020 -
'Officially', yes it will be December 2016 as that's when the last loan payment comes out, unless we increase our monthly direct debit before then. We will hopefully have more in savings than we owe on the loan by April next year though.
Our loan interest rate is very low so it makes better sense to save the money we currently pay off our CC each month (once it is paid off), rather than chuck it all at the loan. Will hopefully get us into good savings habits too while we clear the rest of the loan month by month and are still in the DFW mindset!Total Starting Debt August 2014- £38,061
Current Debt- £3600
Mortgage Offset Savings- £600
90.5% paid off so far...0 -
How fabulous!!Debt - CCV £3792
CCB £1383 (took a hit for a holiday)
Loan 1 £1787
Loan 2 £1683
Total £8601 Was £393020 -
Was just working out our total paid off this month for your challenge thread DF, and we were £55 off £2k so I have skimmed it out of the current account to make a nice round figure
Will now have to not spend a thing until payday on Friday as there is nothing left!!
Drawing a line under January now and have updated my signature. CC target for February is to pay off £1038, as that would take us under £25k (once the loan payment goes out over the weekend).
Realised last night that we are 6 months into our journey- they have flown by so quick. In that 6 months we have paid off £11,183, which is a scary amount of money really. We really have cut our spending to the bone in order to do it but looking at that figure makes me wonder what the hell we were thinking before we knuckled down to get rid of our debt??? So much money frittered away over the years that could have been spent so much more wisely.
We are still only a 3rd of the way through our journey but I can not wait to get rid of the lot and use everything we have learnt to actually save and invest, and be able to look forward rather than looking back all the time...
ETS have been a bit naughty and added the loan payment that goes out over the weekend to my total, so my spreadsheet is all set to start focusing on the CC over February, from now.Total Starting Debt August 2014- £38,061
Current Debt- £3600
Mortgage Offset Savings- £600
90.5% paid off so far...0 -
Look at those figures!!! I have updated my sig with my loan payment too which hadn't cleared, but now has. I too HATE to think what the bleep I used to spend money on. Sooo much of it too and little to show for more than half of it.
I'll update my thread too xxDebt - CCV £3792
CCB £1383 (took a hit for a holiday)
Loan 1 £1787
Loan 2 £1683
Total £8601 Was £393020 -
Pay has appeared in our account this morning so I have transferred another £38 onto the CC to take us under £26k.
Going to dig out some leftovers from the freezer to eat tonight. Several bags of chilli/bolognaise in there although hard to tell which is which, will be a surprise
Need to knuckle down and earn some extra cash this month to hit our target, we aren't going to be able to do it by being frugal alone.Total Starting Debt August 2014- £38,061
Current Debt- £3600
Mortgage Offset Savings- £600
90.5% paid off so far...0 -
It only feels like yesterday I was saying congrats for getting into 26 and now you're in 25!!! Well done you. Good luck with making extra pennies xDebt - CCV £3792
CCB £1383 (took a hit for a holiday)
Loan 1 £1787
Loan 2 £1683
Total £8601 Was £393020 -
Quick check in before I get down to work this morning. Last week was hopelessly unproductive so I have given myself a kick up the rear!
Most DDs have gone out for the month now so just checked the accounts and skimmed £107 off to the CC.
Didn't manage a weekly shop at the weekend but think I'll try and make what we have in the fridge/freezer/cupboards last as long as I can and have a bit of a creative 'using up' week!
Looking at my figures I think I need to earn an extra £200 to hit my February target...Total Starting Debt August 2014- £38,061
Current Debt- £3600
Mortgage Offset Savings- £600
90.5% paid off so far...0 -
Good morning lovely - have a great day.
Makes me laugh when you skim money - I skim and make 50p and you make £107! lol
Take care xDebt - CCV £3792
CCB £1383 (took a hit for a holiday)
Loan 1 £1787
Loan 2 £1683
Total £8601 Was £393020
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