She turned her can'ts into cans & her dreams into plans...

WifeandMummy

Evening everyone :wave:


Hope you all had a pleasant Christmas


I've been absent from MSE for a few months now, I haven't made the dent in 2014 that I had hoped but I haven't increased my debt either. I have been on Maternity Leave meaning our income hasn't been its normal self so we have kind of just plodded along, but I'm back to work now and our income is on the up.


We have just over 11k of debt and the plan is to have this all cleared by this time next year - eeeeeekk!


I have managed to move the majority of this onto 0% which will be a great help to our 2015 mission. I am currently waiting on payments to be processed and money to clear and then I will be able to update my total and post exactly how much I owe and who to...


I've also joined a couple of challenges to keep me focussed


Would love to follow others journeys too so if you have a diary then please let me know so I can subscribe!


Thanks for reading! X

beanielou

Happy shiny new diary

WifeandMummy

beanielou wrote: »

Happy shiny new diary

Thanks Beanielou


So today I have received a 0% money transfer that has enabled me to clear one CC in full and pay £1300 off another, of course the debt itself hasn't gone as its now sat on another credit card however with it being 0% it will be a lot easier to get the balance down! so as it stands our debts are broken down as follows:


CC1 - £999.00 - 29.5%
CC2 - £7522.21 - 0%
VERY - £1087.05 - 0%
Wescott - £1751.88 - 0%


So the plan is to throw everything I can at CC1 to get this gone ASAP, then I will focus on CC2, with the majority of debt being on here and it being 0% we should be able to pay a good amount off this each month. Very is made up of 3 buy now pay laters - eeeeeekk so I am going to look at these as 3 separate payments, the first one is £260 and needs paying by March so the plan is to pay £86.66 in Jan, Feb and March to avoid any interest. Wescott is an ongoing set up that we pay £50.06 a month to, this is due to end in 2 years so I will let these payments continue as normal and then look at paying this off once everything else has been dealt with.


We've set ourselves the target to pay everything off in 2015, some days I think we can do it, other days I think we must be mad but I will definitely give it a good go!!

in_need_of_direction

Loving the thread title, can't wait to see your progress.

WifeandMummy

in_need_of_direction wrote: »

Loving the thread title, can't wait to see your progress.

Thanks so much

So today I logged onto my online banking, as I do every day and saw that a direct debit payment had gone out to CC1. I set it up a couple of weeks ago but was advised to keep making payments as usual until they sent me details of it being set up, so that's what i did, which now means its been paid twice... ah well, I could have done without it if I'm honest but luckily all bills have been paid so I'll just look at it as an extra boost to get the credit card balance down!

Hope everyone has a good new year's eve, whatever your plans x

WifeandMummy

It's been a quiet one today, nothing debt busting wise as happened, infact the extra credit card payment has left things a little tight now until pay day so I don't think there will be any over payments being made for a while

I have listed a few things to sell though, whether people will buy stuff so soon after Christmas or not, I don't know but its worth a shot.


Hope everyone has had a good new years day! hopefully i'll have some progress to post about soon! xx

WifeandMummy

Woke up today full of cold so feeling sorry for myself. I have bought myself an A4 diary which I plan to use for finance purposes, so the plan tonight is to write down all my payments for the year and make a list of birthdays / Christmas etc and anything else I know I have coming up in the year so I can put money aside and plan for it instead of trying to find the money the week before its due!


I'm also going to attempt to do a shop online as I'm struggling to get to the supermarket, also hope that it may help me stick to a budget too instead of me throwing items into my trolley on a whim like I have done in the past!


12 days and counting until pay day (but who's counting!)

WifeandMummy

Didn't get the shopping done last night but have managed to do it today, also got some discount codes so managed to knock a few pounds off the total which is always a bonus


listing more things to sell this weekend however so far I've not had much luck, I guess its just a bad time of year or something!


I've also worked out my finances for the upcoming month and I should be making basic payments of £330.00 off my debt total, will be waiting until I get a full months pay before over paying anything! also we have a holiday to pay for (it seemed like a good idea at the time!) ah well, it's not like we do it every year...


I'm starting to wonder if I should start an emergency fund, I've always thought all money should go towards debt but I am also very aware that if anything was to happen I wouldn't have any funds to cover the bills for or anything? Its definitely something I need to consider!


Hope everyone is having a great weekend!

in_need_of_direction

Can you use the money saved via discount codes to start an emergency fund?

WifeandMummy

in_need_of_direction wrote: »

Can you use the money saved via discount codes to start an emergency fund?

That's a good idea, I think what we will do as well is over pay into our bills account so the surplus is rolling over each month and gradually building up some money. We have always shared a joint account and paid bills etc out of it but have decided to tidy this up now and have the joint account for bills only and each have our own personal accounts.


We're also hoping to make a start on a house deposit and some point through the year, though at the moment this comes 2nd priority to debt repayments but we really hope to move in 2 years so are trying to make ourselves look as presentable as possible! we have a mortgage now but we have very little equity so will require a deposit to help make the jump!


feels ages away but then I think how quick the last few years have gone and i'm sure it will be here in no time! x

WifeandMummy

I haven't updated for a couple of days but that's because nothing has happened, its so frustrating! desperately want to get things moving but until I get my first wages there is nothing I can do! I did do a new SOA based on what I will be earning and the numbers looked good, once all bills were paid including shopping, petrol etc and minimum payments on debts were paid it was showing a good surplus amount of money so i'm confident we can get this debt down of course we will need to budget to ensure we are using the money wisely! so for now im just twiddling my thumbs until my wages kick in hope you're all well x