Preparing for adult life ..

bma14

Happy 2019 (October!!) MSE'ers.


I have decided to come back and use this forum again as I have been a bit MIA with money and need a bit of accountability and this always works for me And I wanna be Debt-Free not just a Wannabe anymore


So the repaying debt has slowed a bit for me as we have been saving to buy a House!


As a result all of my excess income has gone to saving and we managed to get enough for our deposit. We move in tomorrow!


So I thought this was a good time to look at my debts and re-assess to get everything cleared.


So I now have the following Debts:
M&S Credit Card: £320 (I don't really consider this a 'debt' as I use it only to buy my annual season pass for work and pay it off monthly like I would if it was a monthly ticket).
Virgin Money Credit Card: £300 (I have previously paid off the student overdraft which was transferred to this but have used it to pay for our holiday last year and this is the remaining amount due to be paid).


And that is all! It really is a tiny fraction compared to what I used to have but I want to clear it anyway and this blog should help me do that


I have budgeted in our new house budget to be able to pay £100 a month off that card so that it is paid by the end of the year. I am hoping to be able to do a bit more if I save my personal spending money throughout the year but I know we will probably need some big outlays on the house which I will probably need to put on that card and then repay. I am not sure exactly yet how much cash from our savings will be left over as we don't know when our first mortgage payment will be yet (or how much it will be for!) but I will look and work that all out during my week off next week.


There are bits that need done in the house and so I am going to be trying to do as much as I can on a budget Looking forward to being DFW Alumn soon hopefully!!