Mortgage free by 2023 (!)

debtfreeoneday

One item sold on fleabay, so after fees and postage, another £5 towards the next MFW payments.. I'm going to pay these off in £50's, currently sitting at £10.

The £75 overpayment has been applied, but just my luck, the system went down for a few days, so I couldn't see what real difference it made in terms of money off.

Have another fleabay item to list tomorrow if I get chance.

Tax credits have been assessed as more this year which I don't understand, but hey ho.. so once they come in and the child benefit, I reckon I'll have an extra £30 to allocate. £25 cashback for car insurance has tracked, just need that to be payable and I've got about £28 there to fling at the debts as well

CC1 currently at £4312.

debtfreeoneday

I'm finding these credit cards really difficult to get on top of. The loan was fixed and I couldn't spend on it, but it's too easy too on CC's, so slight change of plan. I'm going to cut CC2 up and focus on this one with the aim of it being gone by the end of the year. That's six payments and it's currently £1824, so £304 to find each month to pay on it.

CC2 is interest free until about April next year, but I will deal with that after Christmas and continue to put the weekly food shop and fuel on there as I just transfer the money straight over to deal with that, so it will cover minimum payments.

Just paid another preschool payment which I'm sure is wrong in my favour, but if they can't be bothered to calculate it correctly, then so be it! Just this week to pay and I can take what's left in the nursery pot and divy it it between everything else.

shangaijimmy

You've done phenomenally well to shift your large debt so your obviously dedicated and committed to plans. I must be honest though rather than splitting nursery savings between pots i'd just throw it all at CC2 and get rid as soon as possible. I'm sure you could knock a month off it and get it done in 5. Its then 1 less thing to look and plan for.

That said you idea of cutting the thing up is a very good move. Think i may pinch that technique for Mrs SJ's cards...

amycool

I got rid of a credit card but foolishly forgot that my amazon account was linked to it. So now I have about £15 sat in it!!! Why I didn't just cancel it, I do not know!

I hate having loads of separate accounts. I think you'll feel better once CC2 has gone forever!

debtfreeoneday

Good point actually SJ.. I think it's because I've had so many months of flinging every spare penny at the debt, I wanted to have a more realistic budget, but you are right - maybe I need to come up with a 50% at the debt and 50% between the pots approach?

Amy - I'm sure I will feel tons better when I am down to one debt again.. I just need to get my head down and crack on.

Bought a Christmas / birthday present today for both of the little people. Their birthdays are very close to Christmas and I've built up some money in Amazon so that covered that and then got something off ebay I'd had a search going for a while and they usually pop up at £50 each, one popped up today at £8 so I snapped that up!

Yes I know I just mentioned the C word, but I like to be done by end October..

amycool

I'm hoping to make a no-presents pact with lots of people this Christmas. Unless I need something specific, I'm finding as I get older that I find receiving presents quite stressful! We have a few situations where we end up swapping money or vouchers too, and it's a total waste. I hate getting presents that go straight to the charity shop as I feel guilty on so many levels! So we'll suggest it and see what people say.

Children are a different matter of course! My Mum always started in January as there were 4 of us and not much money. We weren't the type to suddenly want a specific toy in December and I don't remember ever being disappointed. Hiding them is tricky though.

debtfreeoneday

Feeling miserable here.. both of my CC balances are now more than when I started.. and DH has spent on his card so any extra I might have had has to clear his first as it has interest on it.

How can I pay off £58K and then struggle with two credit cards?

I've cut CC2 up tonight and will start again tomorrow - just feeling a bit hopeless right now :-(

debtfreeoneday

DH's wages in and have estimated mine - so divied up all the money again.

Overpayment on mortgage for the year £435 / £450.. nearly hit target and I've got £30 towards the next lump sum £50 payment and expect to hit this easily this month.

Paying £310.10 off CC2 so balance there is £1573.35 - hope to be able to get under £1500 this month.. Finally feels like some progress is being made there!

Emergency fund up to £210 / £500 - need to give this a bit of focus over next few months to make sure I hit target on this.

Will update mortgage figures after 1 August.


and in other news... I am finished work officially till 7 September - WHOOP!!!

Looking forward to six lazy weeks with the little people, plan is to take it easy and not action pack the days - need to watch the spends as well.. having fun and making memories doesn't have to cost anything!

Sun is out, weather is predicted to be dry, so another day in the garden for us - prepping the raised beds and building the last one.. can't afford any wood this month as we need to buy compost, bark, and some stones and membrane for the paths.. off swimming this morning and then garden garden garden!

Have a good day all!

shangaijimmy

My kids just love paddling pool, water guns and water balloons. Easily entertained in holidays (at the minute anyway). I fully agree on not action packing the days as it can get too much for everyone.

Good money plans too, its a great feeling thinking progress is being made!

debtfreeoneday

Thanks SJ.. I do feel a bit more positive this weekend..

Bought a few more bits of school uniform today, PE pumps etc.

Can't believe how naff the weather is, it's tipping it down. We have a party to go to later, that should be fun!