Getting worse before it gets better...

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Hello everyone!
Bizarrely for DFW my current debt is around £2k but it's set to increase by around £10k in the next few months and I really need to get a grip on things before that happens so that I can prepare for it.
The £2k is on a credit card which we used to use for fuel and pay off and then used for some house repairs. It's interest free until June 2017 so not a huge concern at the moment, currently paying £25/month until our house sells. The house which is the cause of all of these problems.
In 2007 my husband bought a house with his cousin for £105k. In 2009 I moved in & cousin moved out. I never liked the house but after we had some issues with damage to the car outside and the mortgage going down a bit we decided we should rent out the house and then rent a flat. I know I probably should but I really don't regret this decision, I love our flat.
We rented it for a short period but long story short we've decided to sell it. It's been on the market since mid-January and have had quite a bit of interest but no offers yet. Unfortunately if it sells for what we anticipate we'll be left with around £10k debt (and my husband's cousin the same). Luckily my FIL has offered to lend us the money so there'll be no interest && no having to search around - but I still want this out of our life as soon as possible.
I think the idea currently is to pay him back at £200/month for just over 4 years. Shouldn't be an issue since we currently pay £350 towards the mortgage/insurances on the house, but obviously I'd like to get this paid off quicker and get saving for a deposit on our own place.
So yeah, DFW's, my debt is set to increase 5 fold in the next few months - eek!
Bizarrely for DFW my current debt is around £2k but it's set to increase by around £10k in the next few months and I really need to get a grip on things before that happens so that I can prepare for it.
The £2k is on a credit card which we used to use for fuel and pay off and then used for some house repairs. It's interest free until June 2017 so not a huge concern at the moment, currently paying £25/month until our house sells. The house which is the cause of all of these problems.
In 2007 my husband bought a house with his cousin for £105k. In 2009 I moved in & cousin moved out. I never liked the house but after we had some issues with damage to the car outside and the mortgage going down a bit we decided we should rent out the house and then rent a flat. I know I probably should but I really don't regret this decision, I love our flat.
We rented it for a short period but long story short we've decided to sell it. It's been on the market since mid-January and have had quite a bit of interest but no offers yet. Unfortunately if it sells for what we anticipate we'll be left with around £10k debt (and my husband's cousin the same). Luckily my FIL has offered to lend us the money so there'll be no interest && no having to search around - but I still want this out of our life as soon as possible.
I think the idea currently is to pay him back at £200/month for just over 4 years. Shouldn't be an issue since we currently pay £350 towards the mortgage/insurances on the house, but obviously I'd like to get this paid off quicker and get saving for a deposit on our own place.
So yeah, DFW's, my debt is set to increase 5 fold in the next few months - eek!
My Debt Free Diary
http://forums.moneysavingexpert.com/showthread.php?t=5415346
http://forums.moneysavingexpert.com/showthread.php?t=5415346
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http://forums.moneysavingexpert.com/showthread.php?t=5415346
Bills........... -429.85
Car............ -91.92
Cash......... -190
Me............. -65.03
Eating Out.. -208.87
Baby........... -106.42
Food.......... -149.28
House........ -735.79
OH............ -134.67
Presents..... -81.9
Savings...... -750
Thornton Street -350
Whisky...... -0.05
So this probably won't mean much to anyone but it's something I can look at anyway. I will break it down into a proper SOA once I have a few months data and I can see it in a meaningful way.
Jumping out to me, obviously, is £81 on presents but most of my big birthdays were this month; OH, my mum, my brother as well as my cousin and a coworker, and valentines day of course.
And then there's eating out...:eek:
http://forums.moneysavingexpert.com/showthread.php?t=5415346
In work this morning, caught up with various DFDs before I start and just about to sit down and do my banking for over the weekend. Spent a bit 'cause tiny tot needed new trainers (Sports Direct, though, £22 so I can't complain too much) but otherwise was a relatively non-spendy weekend. Did a small shop in M&S food but only 'cause we had vouchers left over from Christmas, only cost 5p in the end!
Today I'm aiming for a NSD. Shouldn't be too difficult since I'm in work and have a lunch meeting at a restaurant so the boss is paying. Plan is to go home for a run (day 1 of the 5k to 10k plan - my brother did it yesterday and text saying he's dying - eek!) and then have a small dinner before aforementioned tiny tot gets home from my mums.
Have to download some lectures for my exam in a couple of weeks so I can listen to them while running...better get started before everyone else gets into the office!
http://forums.moneysavingexpert.com/showthread.php?t=5415346
Had a productive (and yummy) lunch meeting with my boss which should keep me full and just have a small dinner. Not looking forward to my run, though :eek:
Is anyone out there? Feels a bit lonely in here...or maybe that's just my social paranoia, haha!
http://forums.moneysavingexpert.com/showthread.php?t=5415346
If you are already putting £750 a month away for savings could you not add that to the £250 you would be paying back and be clear in ten months. Then everything could be thrown at the savings pot.
Diet loss starting Sept 2019 0/80lbs:eek::o
Proud to be No. 47 of the DMP mutual support club
DFW Nerd #380. Proud to be dealing with my debt
http://forums.moneysavingexpert.com/showthread.php?t=5415346
http://forums.moneysavingexpert.com/showthread.php?t=5415346
I'm impressed how you only have £2K debt, that's so good - yes I know it will go up but it's good now!
So are you looking to sell because the house doesn't pay for itself or because you're looking to buy elsewhere?
Sorry it's going to be a loss. Is there anyway you can Sarah Beeny that bad boy? But some paint? Bring the price up? Does the cousin not want it either?
Poor you getting a debt this unfairly
Anyway. £750 looks like a fantastic start! Well done you.
Best thing I ever did was hide my credit cards. Any payments just reduce the balance and I don't overspend anymore. Good luck xxx
Loan 2 £300/£5800
Total £5500/£13800