I want to be Debt and Mortgage Free by 35!

lorriedriver1988

Evening everyone,

I have decided on my short term and long term goals:

Short term Goals

1) Bespoke blinds for Extension: £31.03/ £1500 by December 2015

2) Family Holiday In Cornwall for August 2016: £18.67/ £500 by January 2016

3) House Items: £0/ £1500 As and when.

These targets are quite challenging. The money for these targets has to be made from selling items, surveys, etc- no income

Long term Goals:

1) All Debt to be cleared by December 2016: £94.78/ £9842.81. This debt will be paid off with minimum payment plus any spare pennies we can spare from our budget. I will do a breakdown of debt in a separate post.

2) 10% Help to Buy Loan: £1030.00/ £17,500- by September 2018. Savings for this come from surveys, selling items and interest on savings, cashback etc. Currently in a regular saver with FD.

3) Mortgage: £0/£80,300- Once all debt is paid of all spare pennies will be thrown at this. Would like to clear it by 2023, I do like a challenge.

4) Buy to let deposit: £0/ £25,000- December 2020.

Will update as and when I increase each pot.

lorriedriver1988

A summary of debts:

Car Loan: £6454.70 @ 4.8%. Monthly Payment: £160.25

Lloyds CC: £904.36 @ 0%

Fluid CC: £1745.00 @ 0% clear by July 2016

Furniture: BNPL: £738.75 @ 0% clear by February 2016

lorriedriver1988

MSE things for today:

1) Completed all surveys that were available
2) Washed two loads of washing @ 30 degrees
3) Relisted items on bay of e
4) Used up cleaning products found at back of cupboard
5) Checked for ms shops
6) Joined product testing website and was accepted onto a study.
7) Checked more money off coupons
8) Doing research on holidays- trying to get best deal
9) After arguing with a company I managed to get to refund on delivery charge.

That's it for now,

lorriedriver1988

MSE things for today:

1) Three loads of washing, washed at 30 degrees and placed on airer, although bedding tumble dried so could be put back on bed.

2) Posted bay of e parcel £5.45 after postage.

3) Received £1.35 from TCB transferred to B-savings

4) Completed all surveys available, do need to redeem some vouchers.

5) Received £15 refund from furniture company for delivery charge.

6) Read martin's email, going to transfer one redundant bank account to HSBC for switch incentive plus 6% regular saver

7) Added some funds to savings pots.

Update on savings

Short term goals:

Blinds fund: Added £2.50= £32.53/ £1500
Holiday: Added £2.50= £21.17/ £500

That's it for today. Off to carry on with swagbucks.

belleandthebudget

Wow, sounds like a great day! Good luck with SB. I get so frustrated as I seem to get screened out of almost all their surveys and the TV stuff takes soooooooo long.

lorriedriver1988

Morning folks,

MSE things for yesterday:

1. All surveys completed that were available.
2. Redeemed £10 B00ts voucher from VO
3. Received £10 cinema gc in post
4. Washed all clothes at 30 degrees and placed on airer
5. Sort of accidentally booked a holiday in Cornwall.:o At a holiday park for 4 nights for £105, for the 5 of us for April 2016 as seen on Hot UK Deals :money:. I paid £53.00 last night but have to wait for an invoice from the park for £52.00, need to get saving. I will also research what attractions we can use CC vouchers for whilst we're down there. I will also look at survey sites to see which ones I can redeem for supermarket vouchers:T
6. Checked for more money off coupons.
7. Decluttered another cupboard not very mse but made me feel better.
8. Finished packing bags for hospital.:D

DeanZ

sorry to say this...but the only way to truly remain debt free is to not get into it in the first place and live within your means! something we should teach our kids..as opposed to being nihilistic in approach...


any good suggestions for ways to save money buying stuff online? Other than cashback sites?

lorriedriver1988

DeanZ wrote: »

sorry to say this...but the only way to truly remain debt free is to not get into it in the first place and live within your means! something we should teach our kids..as opposed to being nihilistic in approach...


any good suggestions for ways to save money buying stuff online? Other than cashback sites?

Hi DeanZ,

I agree completely about the best way to stay debt free is never to get into debt in the first place. A priority of mine is to bring my children up on the principle that saving for things is the best option.

A lot of the debt that has been accumulated is because of my DH's approach to money management. He has been brought up by his DM to believe that there is nothing wrong with debt.

Where as, I was brought up to work hard, live frugally and save to buy anything. My dad was a self-employed accountant who ran a very successful chartered accountant business for many years, employing around 20 staff. In many ways he was an entrepeneur, he had buy to let properties, land and many other assets. He accumulated all of that by working extremely hard and living frugally. I thank him each and everyday for the commitment he put in to provide for myself and my brother. If it wasn't for his dedication, when he passed away, his estate wouldn't have had the combined total of £1 million +.

As for the current debt that I have hanging around my neck, money for the two 0% credit cards I had saved up for plus excess, until my DH decided to be impatient and buy a bigger car. I originally took the 0% cards out as a plan to stooze the cash and earn interest, rather than pay all cash for the extension. The plan was working until DH decided the car he wanted was nearly 10 k. Originally he had a budget of £7,000, which I was going to lend him, with the arrangement he pay me back in monthly instalments. Additionally, he wasn't meant to buy the car until around now. However, due to me not being able to access the money instantly and DH being impatient, he took out a 7 k loan, part ex our old car and took the money I had saved up for the 0% cc's and paid for our current car this way.

I have told him in no uncertain terms that I want all our debt paid off by December 2016 as currently he has scuppered our long term plans to provide financial security for our family.

As for saving money on buying items online, the only suggestions I have are always check for money off codes vouchers by using a search engine, only buying needs not wants, maintaining a list of items you need/want and looking in sales/special offer events and complete surveys for vouchers to pay for things rather than cold hard cash. That's it really, there are plenty of other people on here who are far more frugal then me.

Apologies for the long reply,

lorriedriver1988

lorriedriver1988

MSE things for today:

1. Completed all surveys available.

2. Two loads of washing on @ 30 degrees and placed on airer. Washed car seat covers on 40 degrees and placed on airer.

3. Received £1.78 refund from Mr T, promptly returned to B-savings

4. Reserved two new laundry baskets @ Arg0s with 25% off them each. Will get DH to use voucher from surveys and £5 nectar points to pay for them :T

5. Considering whether to order a few more baby clothes whilst DH has 20% off as a precaution. I can always return them if not needed:cool: Will come from b-savings account. Must ask him to buy some more nappies whilst discount is 20%

6. Listed a few more items on bay of e. Reluctant to list anymore atm, in case I'm not around when they sell.

Oh well that's it for today, need to try harder:o

Back to swagbucks it is.

lorriedriver1988

PS. Forgot to add one MSE thing from today.

Padded straps for the car seat have gone walkies. So ordered new ones on Amaz0n and used gift cards to pay for them:j