DFB35 Diary

stepuptothepl8

I like this plan

with a very sensible head on, you'd make as many OPs to the loan as you could, but if it makes you feel better to do a split then of course you should (I do too, £50 a month at the moment goes to the mortgage, which is tiny, but at least I feel I'm doing something). I do love a good plan, tinkering with my spreadsheet keeps me happy for hours!!

lcc86

I know what you mean DFB35, I have been suffering with depression since early this year (maybe longer) and find that stress can increase quite a lot if I chuck all I have at my debt and give myself somewhat unrealistic targets. You can always overpay if you want to, that's the beauty of it!

DFB35

The roof has been finally fixed yesterday, and hopefully scaffolding will be gone soon. I'm feeling very relieved about it as it has been getting me down and I've not been dealing with it very well! I think it's because I've been stressing that the rest of it will come off and about being out of control with it all. Husband will sort out the payment, but luckily this won't affect our budget as the money coming from the separate account he has.

Kids Christmas shopping is done! Well it was supposed to have been finished last month but couple more bits have sneaked in somehow but now that's it - no more!

Me and hubby agreed no presents for ourselves but will go out between Christmas and new year and get ourselves some new clothes! This way it won't affect this months budget, which been stretched by me paying off the credit card with the flights for the summer (for my nans year anniversary and I'm taking the kids) and the boiler fixing.. Plus these extra kids presents (about 50 extra not very MSE I know ) oh and the steam cleaning of the carpets, almost forgot that one!

So it's been a very spendy month already!

On the plus side we only have one more week of childcare expenses as I've already paid for next week and I will save on travel over the holiday period and of course have the £500 in my savings so I'm sure things will get balanced out if need be but hoping not to touch that!

I've just realised that I always end up overstretching myself.. and must have been the driving culprit behind all the debt we got ourselves into in the first place

But it's been a good year financially and we have managed to pay a lot off plus this is the first year all the bonus going to debt and I've not "already spent it" as had been the case in previous years!

I'm feeling really rough and ill today so that could be the reason for a more moany than usual post

Anyway must get myself together as have a lot to do today!

DFB35

I'm having some doubts with what to do with my bonus... All the while I've been planning to close cc1 but now thinking of paying that money towards the loan! It will be around 2k after tax.... Arghhhh (but I suppose a nice dilemma to have!)

Psychological reason wants to see cc1 gone but more practical reason wants to shave 2k of the loan as it will be another year if I'm lucky to have a lump sum again and it can really help shift the loan. Plus the loan is on 4ish apr... Whereas cc1 is on 0%

DFB35

Spoke to hubby last night and he wants CC gone, also hes getting paid on friday and done well arranging money for the roof therefore we can shave off another 200 of the credit card for now. Leaving 1600 to clear in a few days time.

what I might do with any bonus money left plus the usual savings and the money which we used to pay for the car is put that towards the loan to start us off over paying that!

Its really strange as I was looking forward to maybe have more spending money each month and paying it off a bit slower. so not to stress us out. but I seem to be going the opposite and literally very eager to start overpaying it now! Must be the excitement of only having one creditor and actually seeing the light at the end of the tunnel now!

littleskintdragon

Just wanted to say, ive been having the same dilemma!
Ive recently paid off my loan, and now need to decide whether to pay off my credit card with the lowest balance which is on 0% or start chipping away at the high one.

Mse tells me to pay the bigger one, some people tell you to pay the small balances.

I could possible pay off the smallest one in Jan with my bonus.

Good luck and well done on your journey so far

lcc86

I have a similar dilemma, I'm close to clearing my 0% card but also have a loan, and equally think about having more spending money but then get all eager beaver about paying off debt! I've decided to plough on with clearing my card, which is also 0% as it leaves me with 1 creditor, and this gives me some peace of mind if that makes sense.

DFB35

Its strange isnt it? in the past pre LBM days I would never dream of paying off 0% card ... how the times have changed!

Lets do it guys I think psychologically having one less creditor will be a lot better for us in the long run..

Cant wait to hit the loan balance in the new year now

However we also have a huge list of things that need doing in the house, I really dont know when/ how we will start doing all the bits that need doing.

I literally want (need?) to change/ replace pretty much everything ie garden, windows, drive, front garden, kitchen, bathroom (extension )... But the most pressing issue is the mould we get in the small room and the bathroom - I had it checked out and its not rising damp but keeps coming back each winter.. They said its a condensation/ ventilation issue and that really needs to get sorted first...

I even went as far as looking at other houses since it might be cheaper to move, but nothing that we like really, just need to invest money and improve what we already got.

littleskintdragon

Owning a house is an expensive business!! We bought new 4 years ago, as dh is rubbish at diy. We paid more than we would have for an older style, but it probably evens itself out with having less to do.

Yes i agree on the cc, then i'd be left with one cc, and my car to pay for. Im not worried about the car, i had to change it, i had a fiat 500 until july and baby number three is coming two weeks today. It was impossible! When the cc is paid, i will over pay the car, but at the moment its a necessity so im happy to pay it.

DFB35

We've done it! Paid off the CC1 (originally Loan 1) and its feels fantastic! :j :j :j :j :j :j

Cant believe how much we have achieved this year and how we learned to budget to not only afford Christmas without getting into credit card debt but actually changing the habits of a lifetime and having some savings in December which was previously unheard of!

There is still some surplus money from the bonus in our account but I will hang on to it for now and decide whats best to do with it in the new year.

So I am officially beginning 2016 with £8,814 debt outstanding :money:

I am also thinking of creating a new diary for 2016 but will link this one to it once I get round to it!