Debt Demolisher

Cherryfudge

You are doing so well. It sounds as though you really have a handle on this.

I like the way you have divided money into accounts and this:

motivated wrote: »

...one is for car insurance, tax etc I call this my yearly account.

is such a good idea! Do you put a twelfth in every month or lump sums if available?

motivated

Thank you arsenalbarnie

Judging by your username name I take it you aren't a West Ham Fan I'm not personally but family members are

I'm also inclined to agree with you there to be honest. I will start doing just that. I think I'm trying to run before I can walk and need to get my head around the long haul as you quite rightly put it.

I am trying to get there too quickly with everything. My target for my yearly account is to have approx £750 by March/April to be able to pay my car tax and insurance and any vet bills that may occur. I have just calculated that I only need to put £15.60 per week to meet this goal and £13 per week to meet my Christmas target. Why didn't I work it out like this sooner :wall: I can do this weekly from DHs wages and then anything extra when I get paid after my DMP payment can be shared between my F&F savings and my EF building it up like you said :beer:

I have just logged onto my accounts and transferred said amounts for this week already Now I know I am on track to meet these targets.
Thanks Arsenal
M
M

arsenalbarnie

motivated wrote: »

Thank you arsenalbarnie

Judging by your username name I take it you aren't a West Ham Fan I'm not personally but family members are

I'm also inclined to agree with you there to be honest. I will start doing just that. I think I'm trying to run before I can walk and need to get my head around the long haul as you quite rightly put it.

I am trying to get there too quickly with everything. My target for my yearly account is to have approx £750 by March/April to be able to pay my car tax and insurance and any vet bills that may occur. I have just calculated that I only need to put £15.60 per week to meet this goal and £13 per week to meet my Christmas target. Why didn't I work it out like this sooner :wall: I can do this weekly from DHs wages and then anything extra when I get paid after my DMP payment can be shared between my F&F savings and my EF building it up like you said :beer:

I have just logged onto my accounts and transferred said amounts for this week already Now I know I am on track to meet these targets.
Thanks Arsenal
M
M

Ha ha thanks 'up the Gunners!'. At the end of the day or nearer the time you could always use some of the EF money for f&f's if you haven't used it.

motivated

Cherryfudge wrote: »

You are doing so well. It sounds as though you really have a handle on this.

I like the way you have divided money into accounts and this: is such a good idea! Do you put a twelfth in every month or lump sums if available?

Hi cherryfudge

As I have just worked out a simpler way doing things I thinks I will feel a lot better.

to summarise it I get paid on the 15th of the month and this pays all essential DDs like rent, council tax, pet insurance etc I also take my DMP payment out of this too. Anything left over will be shared between my EF account and my F&F savings account.

DH gets paid weekly and he draws out some fun money for himself for the week and leaves the rest so I use this for my bit of fun money, topping up my gas/electric, I pay £5 per week on my TV licence (doing it this way I have already paid this years and am now paying next years already)
We buy the weekly groceries and pay an amount towards our Virgin TV and then when the monthly bill comes we've already paid it. I will also now be transferring the amounts I need for my yearly account and my Christmas account in order to meet my targets. We have a little money left over in the account for grocery top ups like bread and milk during the week.

I am also playing the round down accounts game. I keep the main account at round figures and transfer any odd amounts to one of the others. Even if its as little as 22p.

I have a top up debit card for spending and only load this up with what we can afford to spend. This has been a Godsend and a great idea. It just came with my Santander basic account.

Seems complicated but its working for us as I know that all bills are paid and we are able to save money regularly.

I have to be this organised for my sanity and I haven't even looked at a CC for months :beer:
M

motivated

arsenalbarnie wrote: »

Ha ha thanks 'up the Gunners!'. At the end of the day or nearer the time you could always use some of the EF money for f&f's if you haven't used it.

Another great idea of yours arsenal (up the Hammers, go the Cockney Irons)

I love all of the new ideas I am picking up along the way.

I have learnt so much since I had my long overdue Light Bulb Moment
M

Bobarella

motivated wrote: »

:rotfl: how funny I love it. My DS used to think he was American when he was little.

That's the sort of things I miss. I'm broody but to me a granny now but maybe a while yet and I will blow my budgets big time if I was to find out I was going to be a nanny so maybe best to wait. ( I say it like I have a choice)
M

Where do they pick these things up from?:rotfl:

I remember years ago when my MIL thought I was already pregnant (I stopped to admire some items in mothercare) and she gave me an enormous hug and was practically in tears of delight. I felt terrible telling her it was not the case :rotfl:

motivated

Bobarella wrote: »

Where do they pick these things up from?:rotfl:

I remember years ago when my MIL thought I was already pregnant (I stopped to admire some items in mothercare) and she gave me an enormous hug and was practically in tears of delight. I felt terrible telling her it was not the case :rotfl:

:rotfl: ahh I know how she felt lol

I was asked by a student if I was having a baby :eek: If that's not reason to diet I don't know what is considering I'm past 50 :rotfl: :rotfl:

Tipsntreats

Hello, motivated.
I spotted a post of yours in Debt Free wannabe, then I found this.
So I am here to support you.
I have been there and got the Tshirt, so I understand the struggle.
I am now completely debt free. But the worry beforehand is emotionally draining at times.
You will get there in the end.
I hope you don't mind me barging in.
Tips x

motivated

Tipsntreats wrote: »

Hello, motivated.
I spotted a post of yours in Debt Free wannabe, then I found this.
So I am here to support you.
I have been there and got the Tshirt, so I understand the struggle.
I am now completely debt free. But the worry beforehand is emotionally draining at times.
You will get there in the end.
I hope you don't mind me barging in.
Tips x

Hi Tips you are welcome to barge away

You're debt free now :T. I will be too one day. I'm in a much better place than I was 3 months ago I can tell you. I'm trying to stay positive and plod away

Thanks for your support
M

The_Real_Cheddar_Bob

Dear Motivated,

WOW! Firstly well done for starting the journey you have and i've glossed over this thread and it seems you have done exceptionally well at getting your situation under control.

I hope when this is over in 2024, you find yourself educating others about your situation and the things you have done along your journey.

I like so many others look forward to seeing how this progresses over the coming years.

(thumbs up smiley thing)