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NST: February: Back to Basics.
in Debt-free wannabe challenges
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Womble #17- £2,018.41 €2
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Ok, made my goals.
LBM 2009 Total Debt £49046.24 Debt Free as of 27/08/2015
Need to sit down an properly sort this out.
For this you need to know:
- how much you owe
- how much your monthly payments are
- what the interest rate is on your debt
What are the consequences of not paying it back by then? Can you pay it back earlier?
My debt is my mortgage. It is offset. We pay about £30 pcm in interest. We were on schedule to pay it off by the end of 2018, but dh is about to be made redundant. To pay it off within the agreed time, we now need to pay over £430 pcm. Obviously, not paying it off isn't an option! As and when dh is back in work, we shall throw all we can at it. The security of owning our house and never being threatened with losing it is something I am looking forward to. The sooner we can reach that point, the better.
I appreciate that not everyone will want to write it on here, but do work it out for yourself.
The challenge is looking fab Apple. Here is my plan for Feb:
What is important to you? Becoming debt free. That is my main focus at the moment and I will take a big step towards it this month by paying off my main cc.
When is your Debt Free Date? According to my current plan, by August I will have just my car finance and mortgage left. I could bring this forward, but things are going to be so tight in Feb and March that I want to be able to really enjoy our little holiday in April, and have a little left over so things aren't quite so tight.
Food: I don't have an awful lot in the cupboards but am trying to keep food shopping to the absolute minimum. I am going to aim for a budget of £150 and 20 SFDs. This includes other essentials, such as loo roll, toothpaste etc.
Every penny has a purpose and a job. I can't afford to waste a single penny this month so all spends will be planned.
Buy a homeless person a tea/coffee; donate to a foodbank or the trussell trust; volunteer. We have a food bank drop off in work so will make a donation to it.
Recharge your batteries. I have been trying to eat better, so will continue upping my fruit and veg intake in the hope it will help me feel more energised. I also want to take more me time, so maybe bubble baths, using up my toiletry supplies, face masks, foot spa etc, none of which will cost a penny.
Use what you have before replenishing eg toiletries, cleaning products. Use up your freezer and cupboard stocks. Plan your meals. Take your lunch to work every single day you are there. Definitely.
Avoid the virus that puts the over-riding feeling of ‘want’ beyond what you actually ‘need’, that makes us spend, waste food, accumulate debts. As above, only essential spends this month.
Reduce your outings. Actually, this is where I aim to rebel! I want to get out of the house more, but will see what free outings we can come up with.
Yellow stickers are your friend. I shop in ald! And very rarely find reduced items there, but will keep an eye out.
Could you just do half the challenge???
Enjoy the days away x