DFW newbie

lifeispeachy

Good Evening everybody,
I'm new to the forums, ive changed my mind from wanting to be debt-free to declaring I will be debt free by the end of this year! (well maybe by the end of the first working day of 2016 due to pay schedule) but i will be debt free in January 2016. I want to get a mortgage asap but i need to get rid of my debts first. I owe a total of £3664.85. That's split between one family member debt and 3 cc's. Fortunately only one cc has interest (the other 2 are still in their interest-free period) and that card only has £59.31 left on it so that will be paid off by the end of this month. I've worked out I can reach my goal by paying £610.31 a month which, after bills, leaves me £84.37 for extras each month. Sounds easy right? with 3 kids and another on the way, £84 really wont stretch far each month (especially when the school photos come out in Autumn!) but fingers crossed I can do it. I've read advice on hear to withdraw it in cash so once its gone - its gone, and i think i will certainly try that.
Wish me luck guys, I am likely to need it x

andyfromotley

Good luck.

Your phone has a camera on it. no need for school photos!!

Bobarella

Good luck Life is peachy

If you post your statement of affairs you will find people will suggest ways go trim your budget even further. There is a link on here if you do a search.

Bob

sugarcube84

I agree with Andyfromotley, I didn't purchase official school photos for my son despite it being his first year in school (and in a uniform, I know bad mummy!!) what I did instead was take him to the park so we had a nice backdrop and took some photos myself they came out lovely. Then I got copies printed for family members think I spent about a fiver in total.


Lots of people on here can offer advice if you post a SOA. Good Luck.

asparagus1968

hi, here is the link for the SOA:


www.stoozing.com/calculator/soa.php

Sazzie23

Like you attitude to being debt free- go get it :-)

enjoyyourshoes

Hi good luch:-


reconcile you bank evey day with running balance
Don't forget to account for ALL spends (inc internet & pay at pump (no receipts) ALL CC purchases (may as well account for it now knowing you have £ in bank to pay for it rather than blind panic on statement date)


Accrue for annual and 1/2 &1/4ly bills and put in savings account
Don't buy any insurances monthly as they get you on credit charges , always pay annually.


Overspending is £1 at a time, drip, drip , drip, on fags, booze, lotto, mags, coffee, snacks, lunches, little treats. Stop them ! & throw against Debt , mortgage etc or throw into regular savings


You need to be master of the compound interest not the slave.