Young, free and simply stupid; MrCF takes control!

MrCrimeFiction

I have worked out Loans 1 and 2 by myself after reading my statements :rotfl:

My light bulb moment (LBM) happened on the 01/09/2014 although I started my diary a few days later.

So when I started my diary, my loans had the following balances remaining.

Loan 1 - £11,164.64
Loan 2 - £3093.06

Which adds upto a lovely sum of £14,257.70

The car loan was difficult to work out as on the paperwork they added the interest onto the loan and just subtract the full monthly payments, where as the banks add the interest monthly and take away the full payment. Strange.

Can someone work out the car loan for me please. The amount of credit was £4673, with the interest/fees being £1022.08. Can someone work out how much would have been outstanding after 4 payments. My payments were £154.03.

Once I add the car on, il be able to get my full total and work out how much I've paid to date.

Totally focused on debt busting now

MrCF

MrCrimeFiction

So I've given up on finding out the loan amount for the car loan so I'm just going to count the interest into my debt as it's easier to work out monthly.

My total car loan is £5695. This makes the total debt I had when I started my diary as roughly £19,952.70!!

Here is the current balances;

Loan 1 - £9188/£15500 = 40.7% paid
Loan 2 - £1139/£4000 = 71.5% paid
Car loan - £3692/£5695 = 35.2% paid

Downwards is upwards I say!

Loan 2 came out today but online banking hasn't updated yet. It should come down close to 1k. Can't wait to update the sig. Gosh my life is getting sad!!!

MrCrimeFiction

So a quick sneeky peek of online banking before work shows its now down to £1026.26.

Let's be adventurous. I'm in the process of paying over the £26.26 so the balance of loan 2 will be a humble £1,000

Trying to think of a new thread name. 'Savings Novel" doesn't really cover it anymore :rotfl:

Only a week till payday. I'm excited about my overtime

Today looks like lovely weather, enjoy!

MrCF

[Deleted User]

If you decide to start a new diary please don't forget to tell us what it is/link to it from this thread so we can all find you:).

Don't want you disappearing off into cyberspace, writing away with nobody reading it or encouraging you along the way:eek:.

MrCrimeFiction

No no, I'm not leaving. I got my thread title changed. It now sounds a bit better rather than a bland savings diary. What do you think?

MrCrimeFiction

Got a quick glimps at my payslip for next week. Yes it's a pretty good one. Should cover my expensive week there at the beginning of the month.

Spent a few pounds at work this week, shouldn't have but I was hungry :rotfl:

Works actually pretty good. No overtime or any extra cash but at least I'm going in with a smile

Need to think of a plan for where my wage is going. Think I'm going to bump the ISA upto £100 and put another £100 into my xmas pot. Leaving possibly £300 for an overpayment fr loan 2

Away meeting a friend today to play some tennis. Enjoy your weekend everyone.

MrCF

[Deleted User]

MrCrimeFiction wrote: »

No no, I'm not leaving. I got my thread title changed. It now sounds a bit better rather than a bland savings diary. What do you think?

I didn't realise you could change a thread's title, I assumed you had to start a new one. Shows how little I know and I've been a member for about 6 years:o

Yes, it's good, but I'd never describe you as 'stupid'. For a young guy you are pretty savvy IMO:T

MrCrimeFiction

I picked the title as I was pretty stupid at the time when I racked up over £20,000 worth of debt. I'm just glad it's coming down

Ok so the last few days have been ok. Over the weekend I went and bought some new equipment for my tennis. Think it was between £20-£25. I then spent £5 on hiring out the court, £5 for lunch and I stuck £22 worth of fuel into the car. This now leave my current account dangerously short oops. At least it's pay week this week.

Had a long think over the weekend about my situation. I love tennis and I want to be really good at it. Every time I hire out a court it's £10 (£5 each) so if I'm there once a week it fairly adds up. Plus I have to drive over 15 miles to get there so adding in the fuel, it's a costly expense. I can't afford to join my local club as obviously I'm trying to pay my loans off but if I'm enjoying myself and happy, I don't think il have another financial gambling disaster. The day I spent the £400 I was alone in the house bored and stressed. Maybe signing up to my local club is worth it just to keep myself busy, enjoy myself and stop focusing on my mistakes.

My local club is about 3 miles away from my house so it's ideal but very costly. I'm going to ring them tomorrow to see about prices. I could possible pay monthly as I wouldn't be paying all those trips to the tennis club out of town. I ideally would like a 3 month membership as I don't want to be paying for a membership throughout the winter when I'm not using it. I wait hopefully get a good deal

I think il do an SOA just to see how much money I should have at the end of my wage on a basic month.

Back at my work gym so really enjoying myself. Not too sure if I'm enjoying my new job, it's good but I sort of miss the people in my old department. Will wait it out and see what happens.

On a side note, OH is feeling much better and we are both a bit happier. We treated ourselves to a take out last night which was lovely.

In the words of Arnold Schwarzenegger - hasta la vista baby :rotfl:

MrCF

MrCrimeFiction

I've disregarded the idea of joining the tennis club. I just can't justify it with my debts and I simply can't afford it at the moment.

In other news, it's payday :j:j:j:j

Including all my overtime, my wage this month came in at a huge £2067.64

I transferred over £69.23 to build my ISA upto £100 which would act as my emergency fund if all goes wrong. I also made an overpayment of £100.00 to loan 2, bringing down its total to £900.00

Rather than go crazy on the overpayments, I'm going to be careful as I know the OH has a few things planned this month which could be costly for us both. I also have a night out with some work colleagues and a sports day. I should have more than enough to cover everything.

Hurt my arm playing tennis the other day. I hope the pain goes away soon. Not fun having to work with an injury :rotfl:

I would go outside and do the garden, but yes it's raining

MrCF

MrCrimeFiction

Happy Man today :j:j :beer:

£30.65 appeared in my TCB account the other day. I withdrew it and it swiftly found its way into my account today

So that's a £30.65 overpayment made to loan 2, the balance of which is going down pretty quickly.

I withdrew £100 cash from the bank and put £50 into the joint xmas / holiday fund. OH put in the same so that is building up nicely.

I then put in £41.50 into my personal xmas pot, bringing my total not far off £300.

Couple of little spends at shops for lunch, but this was deserved.

Oh and I nearly forgot, I got 4 hours of overtime a few night ago. Simply better than nothing.

Debts, what debts :rotfl:

MrCF