Debt Free by 30?

debtfreeby30?_2

It has taken me many wobbles to come to the final LBM at 3am on 1st Decemeber! :mad:

But here is the cold hard truth in black & white (minus the £80,104 mortgage);

• Car finance - £9,974
• BOS Loan - £4,237
• Old Student O/Draft (from about 4 yrs ago!) - £1,609.53
• Barclays CC1 - £3,481.61
• Barclays CC2 - £4,284.22
• Hitattchi Capital Loan - £4,722.75

Total debt at the age of 27yrs...£28,309.11!

:eek::eek::eek:

Really would like this gone by the time OH & I turn 30. Not only for us but for our little ones too! Fed up of worrying and constantly thinking that we have no money when really we do, we just flush it down the toilet every month!!!!

debtfreeby30?_2

Currently want to pay the debt of in following order...(until I find out which other way is benefitial once I look at interest rates in my holidays)

1. O/Draft
2. Barclays CC2
3. Barclays CC1
4. BOS Loan
5. Car
6. Hittachi
7. [move onto mortgage]

Also decided to put away £20 in ISA a week...so that next Xmas I will not be putting everything on CC like I did this year and we actually are standing on own two feet a bit and not borrowing.

If it is worth it, we save for it!!!!

Trying to get positive with it all. Meeting the problem head on!

stiltoncheese

Good luck. I've been debtbusting for quite a few years now, but finding out I was pregnant for the first time in early 2013 really put things into perspective and I was determined to clear everything as fast as I could before my son was born so I could make a better future for him. I'm 5 loan payments away from being debt free now and my son's baby sister is 6 weeks or so away from making her grand entrance into the world. Saving hard for a mortgage deposit now instead of throwing it to debt and it feels great to think it's for their future security.

This year is the first year I've paid for Christmas in cash and it feels so good.

Subscribing to your thread

debtfreeby30?_2

Wow that's excellent!

And so exciting to soon be debt free while your little ones are still wee Good luck for the coming weeks

I can't wait for next year to achieve paying for Xmas through saving hard! Will be such an achievement instead of throwing credit at everything.

xx

debtfreeby30?_2

Update for today - been a NSD Not left the house as have been studying for exam tomorrow.

Have to go out to WW in an hour or so and then when I come back shutting the books so there will be no more stressing and will just need to get on with it tomorrow.

Won't be spending any money when I go out so it will still be a NSD hehe.

No money for any pots today however early hours of this morning I was looking into the bank accounts that I had and the one with the overdraft from the Uni student days which has been changed to a select account is being charge £6 a month just for being in the overdraft and the nil taxed odraft amount is £10. Would like to get that down asap. Hoping to continue to save the money from the shopping - probably wont be any notes for a few weeks (all the change is going in the pot for the SPC ) (have notes to value of £45 in another jar) plus double budgeted fuel this month (£80) plus have an amount of £100 budgeted for clothes which tbh we will be getting things at Xmas to cover this...there is always clothes and we don't need anymore! so thinking will take the total left (less works night out to Glasgow of Approx £20) and putting £205 extra this month on top of the £600 budgeted towards the odraft.

That maybe long winded!!!

That should hopefully reduce it to around £800.

Also put in an estimate for my salary as have had an increase and not included the 4 extra days I worked so fingers crossed that will be more to set off against the o/draft plus any bonus i get but not holding on to that.

Really motivated to get this paid off. Especially with the whole family behind it now. It makes it a lot better when you are making it into a challange like how much can we save in a pot and convert for next Xmas/a holiday/to go places like the cinema.

Need to keep thinking of ways to make it exciting for them especially the 2 wee ones.

debtfreeby30?_2

no nsd today as bought two pizzas for dinner after I came back from exam. So tired. Trying to get parents into the money saving mind though

monz

Hey

I am from Glasgow also just thought would say hi and subscribe