A new chapter

lincoln-potter

So i was long time member and used to frequent the boards quite regularly however my circumstances have changed quite drastically.

I have now split from the OH and whilst I was very close to being MF I now find myself with an additional amount of debt in having had to buy her out.

I'll post a current SoA shortly but pretty much the overall debt stands at around £300k.

I have a fairly ambitious plan to pay off this debt within 5-6 years and still aim to be MF by the time I hit 40. Being single I am hoping will allow me the freedom to be money savvy where previously the ex liked to spend.

misscousinitt

Oh LP I am so sorry to hear about your split with your OH.

Wishing you loads of luck with your new adventure.

MCI

lincoln-potter

Thanks Miss.

These things happen I guess. Still life goes on, I'm still only early 30's so not the end of the world I can recoup.

So how am I planning on paying off such an amount in such a short space of time? By doing all the MSE activities which previously the ex wasn't keen on, these include:

1 - Bank account switching for rewards
2 - Stoozing
3 - Reducing monthly overheads (Batch cooking since it'll be for 1 rather than 6 now)

Obviously I am on a good wage so the majority of the repayments will be a result of this. The aim now is to still be MF by the time I am 35, and then reduce the further debt by the time I am 40 or sooner.

First thing I have done already today is change my electric supply to Robinhood energy from Jan 1st. Which is a lower variable tarriff, the key for me will be to time using appliances on timer in the daytime to take advantage of what solar energy I produce.

I have also today managed to get Plusnet to offer a lower than standard rate to match POP broadband. Thats a huge saving of £15 a month.... every little helps i guess.

atypicalblonde

Good luck LP, I will follow your thread with interest x

Kittenkirst

Hi LP :wave:
Really sorry to hear about your split, it sounds like you are focussing on the future and your goals.

What type of things are you planning to batch cook?

Yaz_2016

Good luck with your journey Lincoln

lincoln-potter

Kittenkirst wrote: »

Hi LP :wave:
Really sorry to hear about your split, it sounds like you are focussing on the future and your goals.

What type of things are you planning to batch cook?

Thanks for that, yes I am more determined than ever now, if I don't reach my goal I'll only have myself to blame now.

Well depending on how organised I am firstly I'll try to hit the Mr T's and see what reduced items he has and take it from there. If however I don't find much I'll probably end up doing meals like hotpot, lasagne, cottage pie. I have a large chest freezer so I'll end up freezing quite an amount I imagine.

Yaz_2016 wrote: »

Good luck with your journey Lincoln

Thanks for stopping by Yaz.

lincoln-potter

Today I am going to be making a list of all the important birthdays throughout the year along with some possible gift ideas so that if I stumble across a deal early I can buy it soonest.

I did see some nifty homemade gift ideas last night on "Escape to the Chateau" where they printed on an inkjet onto the waxy part of a label and then whilst wet stamped it onto some wood. Gave of a great impression of the children's picture. That is something the FIL would like for sure.

Just signed up for receipt hog also.

Also just had £66 pay in from the solar panel feed in tariff.

lincoln-potter

Okay I have also planned out various current accounts and money transfers which should once I get the cash reserves up add up to £1017.00 interest a year. It will take a bit of sorting and some time to space out the applications as I will be using 8 current accounts. Still once setup it will require virtually no interaction.

Next on the list, pre-planning stoozing cards and long term savers.

lippy1923

Hi Lincoln

Good luck with your journey. Life takes us down some odd paths, but you have a great goal in sight, so keep heading in that direction. You mentioned changing energy providers but definitely worth doing a complete SOA to go through your entire new budget and get some useful tips along the way.


Keep updating as often as you can, it really does motivate you tracking all of your progress. I have had my diary over a year now, but its nice to look back sometimes and see how far I have come.


I will be reading with interest
Lippy

lincoln-potter

Hi Lippy,

I have a full SoA, only thing is the ex knows I use this site so not sure if I'll post it all here. Maybe just the key points.

I'll pop over to yours now and have a read!