Small Steps Out Of Massive Debt!

GeorgianaCavendish

Bonus received and I've paid off that Tesco 1 balance. Glad to get rid of that before the awful interest rate kicks in!

redofromstart

Hurrah, well done you!

Seasidegal58

Yes! Well done! Onwards and upwards!:j:j:j

JoJoC

Excellent news! Well done!

WannabeFree

Brilliant news

You're doing fab

x

GeorgianaCavendish

Thank you everyone! I'm really pleased to have caught it before it went up to that scary rate :eek:

We've been having a long think about our current living situation. We like our flat and the landlady is great (we rent directly from her so no annoying estate or management agents to deal with) but the small size and the location is really starting to get to us. We're on top of a busy tube station that has underground and mainline trains going through AND right next to a very busy high street. The constant noise and light pollution from the station means we get a rubbish quality of sleep (don't notice it day-to-day, apart from feeling knackered all the time!, but we visited DH's parents last week and the difference in sleep quality was eye opening). Also we haven't got any outdoor space or even a balcony, and the flat is roasting in the summer. The warm weather we had last weekend felt almost unbearable.

SO, we would like to move to another area a few miles away and look for a slightly larger property with outdoor space. And away from railway stations / main roads! We've been doing some research on prices and we could get a 2 bedroom property with outdoor space for about £150-200 more per month than our current rent. This isn't feasible at the moment but we should be able to do it by this time next year, so to start with we are going to pay the difference between our rent and projected rent into a savings account so that we have money to cover deposit, moving expenses etc. That goal is bringing home how much we need to stay on top of the small outgoings to make a big positive change to our lives

Seasidegal58

Good idea on the savings account to upgrade your abode! I live in a flat with no balcony and it would be lovely to have one - even a juliette style so I could open some nice big windows fully for some fresh air when it is hot! We have a communal lawn but it never inspires me to sit out there - I like my own privacy and space!

As you say small changes to lifestyle like cutting down on takeaway coffees etc, will soon start to fill up the savings pot!

JoJoC

Great plan to get moving! Itll be interesting to see how the motivation of having a lovely new home will help ypu stay on track with savings goals. Maybe more than if you were just generally saving?

wishingthemortgaheaway

Sounds like a fab plan, I'm doing something similar, putting £100 a month aside as I think that's about what the bills increase (minus the mortgae increase) For if/when we move.

GeorgianaCavendish

Thanks everyone, I am feeling quite reenergised now that I feel like I'm cutting spending / saving for something tangible!

I just closed Tesco 1. AND I've just done my first proper snowball! The £25 a month minimum payment that I was making to Tesco is now going towards my Barclaycard debt. It feels like a drop in the ocean (I think it is something like 0.01% of my Barclaycard balance :rotfl:) but it will help.

At some point in the next couple of weeks I will update with my percentages paid, I like seeing that some debts are at 100% paid (and others, like my Lloyds balance are languishing around 2.5% !)

Have a lovely weekend everyone!