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From debt to freedom...

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Comments

  • savingholmes
    savingholmes Posts: 29,139 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The food sounds great. As does your sink planter
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £169.8K Equity 37.1%
    2) £2.4K Net savings after CCs March 26 (but owed £1.1K) so £3.5K
    3) Mortgage neutral by 06/30 (AVC £36.2K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 42.1£127.5K target 33% 27/2/26 (If took bigger lump sum = 64K or 50.1%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £5.2K updated 16/1/26
  • 6hrs is a long time without a break, surprised the change for accepted so easily. But at least it explains why my supervisor tells me off for not taking my 20 min lunch break all time 🙃 
    *Dad loan - £5300 - £7000
    *Virgin Credit Card - £3552.50 - £0
    *Natwest - £1828.35 -£0.00

    Barclaycard - £2315.25 - £0.00

    Creation Finance - £960.32 £0
    *Total debt - £7000/£11641.17*


    Savings
    *Sinking Fund - £800/£2500
    *Emergency Fund - £1000/£1000


    New diary- https://forums.moneysavingexpert.com/discussion/6474943/the-three-cs-coffee-clothes-credit-cards/
  • dawnybabes
    dawnybabes Posts: 3,612 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I used to have to enforce it as it’s unpaid so some of my staff didn’t ’want’ it when doing a 7 hour shift. 

    Planter sounds fab, I keep looking at growing coriander as we get through so much of the stuff ! 
    Sealed pot challenge 822

    Jan - £176.66 :j
  • Bluegreen143
    Bluegreen143 Posts: 3,722 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 9 September 2024 at 10:13PM
    I think that’s really sensible - I often marvel at the hours you work and wonder how you keep going. I’m glad your SO and DD are looking out for your wellbeing.

    I think your DS3 is roughly ages with my DS (mine will be 9 on his next birthday in December?). I hope he had a brilliant party!
    Part time working mum of DS (2015) and DD (2018).

    NET WORTH Nov 25: £159,943
    Assets: £230,000
    Investments: £70,169
    Savings: £3,288
    Debt: -£143,514 (£700 CC / £16k car / £127k mortgage)
  • Cherryfudge
    Cherryfudge Posts: 14,735 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    29 hours in 48 is a lot of work! I find taking on extra is addictive, particularly when the finances are tight, but I'm glad SO and your daughter persuaded you to reduce the hours.
    I think a bit of sunshine is good for frugal living. (Cranky40)
    The sun's been out and I think I’m solar powered (Onebrokelady)

    Fashion on the Ration 2025: Fabric 2, men's socks 3, Duvet 7.5, 2 t-shirts 10, men's socks 3, uniform top 0, hat 0, shoes 5 = 30.5/68
    2024: Trainers 5, dress 7, slippers 5, 2 prs socks (gift) 2, 3 prs white socks 3, t-shirts x 2 10, 6 prs socks: mostly gifts 6, duvet set 7.5 = 45.5/68 coupons
    20.5 coupons used in 2020. 62.5 used in 2021. 94.5 remaining as of 21/3/22
  • Spendless
    Spendless Posts: 25,137 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Im pleased to hear you're cutting back at job2. Ive long wondered how you manage to juggle everything and the impact it must have on you. 
  • savingholmes
    savingholmes Posts: 29,139 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Spendless said:
    Im pleased to hear you're cutting back at job2. Ive long wondered how you manage to juggle everything and the impact it must have on you. 
    Same from me. Glad you have help, support and encouragement.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £169.8K Equity 37.1%
    2) £2.4K Net savings after CCs March 26 (but owed £1.1K) so £3.5K
    3) Mortgage neutral by 06/30 (AVC £36.2K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 42.1£127.5K target 33% 27/2/26 (If took bigger lump sum = 64K or 50.1%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £5.2K updated 16/1/26
  • Good news about SO chipping in with food costs so that you can cut back on hours. Hopefully you get a better work and life balance. 
    *Dad loan - £5300 - £7000
    *Virgin Credit Card - £3552.50 - £0
    *Natwest - £1828.35 -£0.00

    Barclaycard - £2315.25 - £0.00

    Creation Finance - £960.32 £0
    *Total debt - £7000/£11641.17*


    Savings
    *Sinking Fund - £800/£2500
    *Emergency Fund - £1000/£1000


    New diary- https://forums.moneysavingexpert.com/discussion/6474943/the-three-cs-coffee-clothes-credit-cards/
  • Thank you Bluegreen143, Cherryfudge, Spendless, SH and Sarahwithlove.

    Yes Bluegreen143, you are right. My DS is now 9.

    Main expenses so far in September have been DS’s birthday party. I didn’t go for a whole class extravaganza ( too much like work!!), so he had a few friends to go to a local theme park. We had lunch there and I dropped them home. That came to £170.

    Good news is that the electricity company have reduced my direct debit. I’m thankful for this as last year they doubled it, which resulted in me paying £400 a month for a while, until I ended up asking for reimbursement and getting some back. The new figure is £187 which seems much more reasonable.

    The new hours at Job 2 start in October. I’ve spoken with my manager and emphasised that I enjoy the job, it’s just trying to sustain both jobs for the hours I’ve been doing is tricky. The manager has been understanding.
    paydbx2026 #19 £1499/£6000 . Mortgage start £148k June 23 - now £133k.
    2026 savings challenge £0/£2000
    EF £140. Savings 2 £2.17
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