Round and round the overdraft....soon to be no more

SpekySquarehead

Louby - my thoughts, for what it's worth...you're working super hard to get rid of the debt that you have, only to get a loan and go back into debt afterwards?

Do you need a new en-suite? If can wait a further 6-8 months after your debt free then you could potentially pay it off, cash. Doesn't that sound attractive?

You know your circumstances better than I do and I know you'll make the right decision.

louby40

Speky

I am DESPERATE for so much to be done in my house. I currently have brown tape at the bottom of the shower door otherwise it leaks. The carpet in there is stained (as is the whole carpet throughout the house - it's cream!!) My house, although 13 years old has all the original features and is looking quite tired. It was rented out for a time and left empty for 12 months.

I need new carpet throughout, the whole house needs decorating and I need a new kitchen. The kitchen will cost me £10k I reckon. My brother has just had his done and he spent £10k

I could save next year, like crazy and pay cash. I'd prefer that.

But the kitchen.....that's a whole other story. That will have to be a loan.

louby40

In other news.....

I've joined my first challenge, I'm in the 10th Sealed Pot challenge with £1.30 so far in my pot.

I've sold some stuff on ebay and got a payout on a survey, so I've managed to nearly cover the money that I've paid for my Take That ticket.

By Christmas my EF will be £500 and I'm going to start paying more off my CC.

My DF date is July! Would love it to be sooner!

SpekySquarehead

I can totally understand the urge to get work done in the house, so it can't be grudged. Just imagine being able to pay for things like that, with cash, in full. Things like that even give me motivation to continue saving haha!

Well done on the ebay selling and survey. Every little helps. I sold some stuff I found in the house, unused and covered in dust. A lock for a bike is sitting at £60!!! And I only came across it after reading the Kon Marie book. Recommended.

louby40

Great night last night. We went into Manchester, stayed in a Travelodge (£38 with a 15% off deal) - and saw the comedy legend Billy Conolly.

I spent a bit of money, £20 on drinks, £11 on breakfast and £8 on parking.

Not going out again now though until December!

louby40

I officially hate the money that Christmas costs! I decided after our great time in Manchester to buy 2 Kaiser Chief tickets for next March. They came to £71 but half of that will be covered by my Xmas savings as it's a gift to my OH for Christmas.

I also bought him a electric shaver using a free Amazon voucher after he left his in Jersey so that's a free present.

Two paydays before Christmas, but Decembers is 2 weeks early so I'm going to move most of that to my savings account until I officially get paid. I hate the 5/6 week wait until January's pay.

SpekySquarehead

I'm with you on that louby,, January is a loooooooooong month.

Admittedly Xmas does cost too much for most of us, but it is a such a special time of the year so I don't grudge it.

Never seen Kaiser Chiefs but I'd imagine they'd be awesome live

louby40

Speky I've seen them twice and they are brilliant!

We went out for tea last night, £20 each - shouldn't have really but sometimes you just have to do these things.

Bit of shopping today
Aldi £55
Boots £6
BM £4.50

Don't get paid for another 9 days and I'm into my overdraft. This is the second time since I had my LBM that I've gone overdrawn. Not happy about this as once you're dipping in your overdraft it's so hard to get back into the black.

I can't see December being much better. It's so difficult. My £400 emergency fund could pay off my Barclaycard- I'm so tempted to do this. Then I only have £800 on my second CC and the £2000 I owe my parents.

But then I would have no emergency fund.

System

Hey Louby.
Sounds like you have been doing some amazing things!
How about a compromise - Keep 50% of the your EF? What things could go wrong for you? Is an MOT looming? If it is, I'd hang on to your EF.

On the DIY front, we did our kitchen for approx £2K, not including appliances - but installed it all ourself. By the time we added in flooring, tiles, painting and appliances it was probably closer to £4.5K.
We have used Ikea and I have to say the quality is amazing (25 year guarantee!). I'd really recommend drawers instead of cupboards - it makes life so much easier!

Hope you are well xx

louby40

Ramble funnily enough we were looking at Ikea kitchens the other week and I really liked one of them. I'm going to have loads of those big deep drawers - I agree, very useful!

My car passed it's MOT in Sept so all good there.

I've decided to make another payment to my EF to make it £500 then start adding that amount to my CC. I usually pay £100 a month so I can make it £200 then. It will be gone by February. Then I can start on my First Direct one.

I hope you house refurb/move is going well xx