Determined to get from £13K to £0 debt!

debtfreeoneday

Well done! It's bad isn't it, but I also can't wait till November (hopefully October) when the debt is gone forever!

killerpeaty

Hi Courage, you sound like you're doing great already and I will follow your journey.

courage2change

debtfreeoneday wrote: »

Well done! It's bad isn't it, but I also can't wait till November (hopefully October) when the debt is gone forever!

Tell me about it DFOD I suppose whilst I'm wishing, I should really just wish to be DF and MF but that removes all the fun of finding the extra pennies Hope you're having a good Sunday!

Hi Killerpeaty, thanks so much for joining me! I don't know how to subscribe to diaries yet, need to work out how to do that today!

Been playing with my spreadsheets again this morning (what fun!) and my loan plan at the start of 2015 was based on the original figure at that date, before I did any transfers or overpayments....

So when updating this each day, I don't think it has taken into account interest savings by the looks of it, and when I base the calculation on the £1905 balance outstanding as at today, minus all the Feb - May planned payments, my figure to find is £46, not £85. Presumably once I make all of these payments and the regular overpayments that £46 will reduce naturally a little too.... I want to know an exact figure NOW :rotfl:
Anyway, £46 is better than £85.... ! My thinking is that I could now work towards end April to clear the loan instead of end May!

eBay sales ending today are now looking at £22 profit with a few hours to go until they end!

Haven't listed any since Friday night, need to do some more today!

All my monthly spending pots still have plenty for the next 3 weeks and I still have a buffer over and above the pots of £200. This is different to any other attempt I have ever made and whilst I am soooo tempted to make more OP's I think it is knowing I am in control and have plenty "available" as well as the savings pots that is giving me the motivation to find extra / trim / make regular OP's. I hope all of that rambling makes sense! :cool:

Have a good day MSE
C2C:A

killerpeaty

You can subscribe via thread tools, then you can see your subscribed threads via the User CP, personally I don't like this method but you might find it useful.

So exciting that your overpayments might be half of what they might, but if you split the difference then you could get rid of it earlier! I might be overzealous though.

courage2change

Thanks KP! Think Im getting the hang of it now :T

eBay sales on Sunday ended at £27 profit and all paid. Fees paid aand all posted so the £27 has now been OPd! Signature updated and i am now above 10.5% paid :j

£23 of TCB became payable to me yesterday so I'm now waiting on that hitting my bank account to do another OP. A further £63 is confirmed but not yet payable - that will be OPd as soon as I get it!

eBay bids of around net £5 this week so far. Adding more listings tonight.

Have had 3 NSDs in a row (including today - hopefully!) so im still on track to have enough money left at the end of the month to do another £100 OP.

The £180 holiday money in my savings is giving me food for thought - I'm not planning on one any time soon... Why not OP?
I like the security of having these savings at the moment but it seems an unnecessary pot at the moment...

I could shift it to emergency fund... The car fund is getting another £100 when I get paid at the end of Feb and Xmas another £50 and I'm also adding £100 to a pot for DDs b-day which is at the start of June (really like the idea of being prepared well in advance this year).

If I do OP it, this will mean I have very little to OP at the end of May in order to fully clear the loan, and gives me a target to work towards - i.e. no OP at all required at end May! Will give it some more thought.

Hope everyone having a good Day
C2C :A

courage2change

Have also done some sums and the total I have OPd since 1st Jan is £1306!

£200 - Dec salary
£300 - Jan salary
£500 - vested shares
£306 - all the small OP's have really added up!

The loan balance is now £1878 which will be paid as follows:

£400 - 4 x regular payments of £159 minus rough interest (28th Feb, March, April and May
£100 - should be left from Feb salary
£300 - OP end Feb (March salary)
£450 - OP end March inc. £150 bonus
£300 - OP end April
£85 - TCB (inc. £22 in progress)
£5 - eBay (current sales)

This leaves £238 and in my original plan I thought I would need to do a £250 at end May + I had a bit to find on top of that!

I'm now £12 into the May OP and if I do OP the £180 from the holiday fund, my May OP would only need to be £250-£12-£180 = £58 - which I would aim to find (and more!) before the time comes.

Really hope all makes sense!
C2C :A

courage2change

Evening fellow MSErs

The £23 TCB appeared in my bank account :j so i've now OP'd that + managed to trim a little more off my spending pots for February and OP'd a further £12 = £35 today

I have had another £10 of eBay sales (after fees) and am just awaiting payment - hopefully get that soon!

The loan figure is now £1843 and based on the above, my large OP for May has now reduced by £30 down to £220 to clear the loan... all going to plan I will hopefully avoid the May OP in full and can start to throw it at the 0% debts!

Going to read a few diaries tonight for some new inspiration! Have a great evening all
C2C :A

DFB35

Good luck C2C!

You sound so organised, I'm looking forward to reading your debt free journey. Subscribing (if I can figure out how to do it haha)