Determined to be debt free in five years!

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  • Debtfreein5yrs
    Debtfreein5yrs Posts: 62 Forumite
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    joedenise wrote: »
    Couldn't recommend YNAB more. It's definitely worked for me.

    Denise

    Hi Denise :)
    I have to say now I've got my head round it I think it will work for us too
    Total Debt April 2017 = £98086.93 :eek: May 2017 paid back £678.63/£97943.93 or 0.69%
    Short term financial goal :-
    Clear £7107.78 of high interest debt (includes clearing overdrafts)
    April 2017 £0/£7107.78 paid. May 2017 £678.63/£7107.78 paid (9.54%)
    Weight loss goal:- Lose 30lbs by Christmas 2017 April 2017 1/30 lbs lost
  • Tahlullah
    Tahlullah Posts: 1,086 Forumite
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    Two great things for you then. Spending quality time with family and starting to enjoy budgeting! A win-win situation. And you budgeted for your social event and managed an over-payment. On a roll!!!

    Tx
    Still striving to be mortgage free before I get to a point I can't enjoy it.

    Owed at the end of -
    02/19 - £78,400. 04/19 - £85,000. 05/19 - £83,300. 06/19 - £78,900.
    07/19 - £77,500. 08/19 - £76,000.
  • Debtfreein5yrs
    Debtfreein5yrs Posts: 62 Forumite
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    Tahlullah wrote: »
    Two great things for you then. Spending quality time with family and starting to enjoy budgeting! A win-win situation. And you budgeted for your social event and managed an over-payment. On a roll!!!

    Tx

    Absolutely :j
    Total Debt April 2017 = £98086.93 :eek: May 2017 paid back £678.63/£97943.93 or 0.69%
    Short term financial goal :-
    Clear £7107.78 of high interest debt (includes clearing overdrafts)
    April 2017 £0/£7107.78 paid. May 2017 £678.63/£7107.78 paid (9.54%)
    Weight loss goal:- Lose 30lbs by Christmas 2017 April 2017 1/30 lbs lost
  • Debtfreein5yrs
    Debtfreein5yrs Posts: 62 Forumite
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    Well I've updated my signature to include all the little payments that I've paid in the last week :)
    In just one week we've paid off a total of £157.65 which is 2.2% of our short term goal. Feels really good
    Total Debt April 2017 = £98086.93 :eek: May 2017 paid back £678.63/£97943.93 or 0.69%
    Short term financial goal :-
    Clear £7107.78 of high interest debt (includes clearing overdrafts)
    April 2017 £0/£7107.78 paid. May 2017 £678.63/£7107.78 paid (9.54%)
    Weight loss goal:- Lose 30lbs by Christmas 2017 April 2017 1/30 lbs lost
  • Debtfreein5yrs
    Debtfreein5yrs Posts: 62 Forumite
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    Had a really busy but really enjoyable weekend. Spent lots of quality time with family and friends which is very important to us. Despite it being busy we have spent very little :)
    Had a NSD yesterday which was brilliant. Today we went out for Sunday lunch with friends and managed to keep the bill down to just £18.31 for two of us!! Both had a lovely healthy meal. Drank water instead of wine which helps with the healthier eating goals and to be honest didn't miss it at all. Amazing what a difference it makes to the bill. We budget £50 a week for entertainment so the cost of the meal was well covered. Not planning on going anywhere else all week (other than work) so should have a nice chunk left over to go towards debt :)

    We also walked 6.5 miles today in the sunshine. Again helps towards our healthier lifestyle goal and cost nothing. Really enjoyed it. Just goes to show that you don't need to spend a lot to have a good time.

    Not had time to do grocery shopping but to be honest there's so much food in the fridge, freezer and cupboards that we can probably manage with just 'bits' this week. Hopefully that will mean even more money to throw at debts.

    Called at local shop on way home this evening to buy nice coffee and a packet of biscuits to have at home instead of dropping into Starbucks. Spent £5 but have enough to last the week. Much cheaper option than our usual coffee shop visit :)

    Hope you have all had a nice MSE weekend?
    Total Debt April 2017 = £98086.93 :eek: May 2017 paid back £678.63/£97943.93 or 0.69%
    Short term financial goal :-
    Clear £7107.78 of high interest debt (includes clearing overdrafts)
    April 2017 £0/£7107.78 paid. May 2017 £678.63/£7107.78 paid (9.54%)
    Weight loss goal:- Lose 30lbs by Christmas 2017 April 2017 1/30 lbs lost
  • Debtfreein5yrs
    Debtfreein5yrs Posts: 62 Forumite
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    Quick update on another good debt busting day.
    Budgeted £125 out of OH's weekly wage to pay towards short term debt so paid £114 towards a high interest loan and £11 off overdraft 1 this morning
    Stuck to diet by taking packed lunch to work and resisted buying anything to add to it so it's been a NSD.
    Total NSD's this month 4/15
    Total Debt April 2017 = £98086.93 :eek: May 2017 paid back £678.63/£97943.93 or 0.69%
    Short term financial goal :-
    Clear £7107.78 of high interest debt (includes clearing overdrafts)
    April 2017 £0/£7107.78 paid. May 2017 £678.63/£7107.78 paid (9.54%)
    Weight loss goal:- Lose 30lbs by Christmas 2017 April 2017 1/30 lbs lost
  • Debtfreein5yrs
    Debtfreein5yrs Posts: 62 Forumite
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    Didn't get chance to post yesterday. OH picked up some bits from local supermarket including a chicken, gammon steaks, bread and fruit. Spent £13 which wasn't bad considering we haven't done a supermarket shop this week. Still leaves us with £32 in groceries budget which I'm hoping we won't need to spend. OH also used £12 out of petrol budget. We did however manage to make another small payment to our debts as OH's Mobile Phone bill was £11.34 less than what we had budgeted for. Don't know why but not complaining. The £11.34 was used as a payment to overdraft 1.

    Not a lot to report from today other than it has been another NSD. This makes 5/15 for May.

    Still feeling motivated :)
    Total Debt April 2017 = £98086.93 :eek: May 2017 paid back £678.63/£97943.93 or 0.69%
    Short term financial goal :-
    Clear £7107.78 of high interest debt (includes clearing overdrafts)
    April 2017 £0/£7107.78 paid. May 2017 £678.63/£7107.78 paid (9.54%)
    Weight loss goal:- Lose 30lbs by Christmas 2017 April 2017 1/30 lbs lost
  • Hiddenidenity
    Hiddenidenity Posts: 5,423 Forumite
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    Amazing progress and you 'sound' so happy and up beat.

    Following x
  • Debtfreein5yrs
    Debtfreein5yrs Posts: 62 Forumite
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    Hiddenidenity wrote: »
    Amazing progress and you 'sound' so happy and up beat.

    Following x

    Thank you :)
    Must admit since we made the decision that we are going to clear our debt once and for all our motivation has 'sky rocketed'. For probably the first time in my life I feel totally in control of our finances and it is a good feeling :j
    Total Debt April 2017 = £98086.93 :eek: May 2017 paid back £678.63/£97943.93 or 0.69%
    Short term financial goal :-
    Clear £7107.78 of high interest debt (includes clearing overdrafts)
    April 2017 £0/£7107.78 paid. May 2017 £678.63/£7107.78 paid (9.54%)
    Weight loss goal:- Lose 30lbs by Christmas 2017 April 2017 1/30 lbs lost
  • Debtfreein5yrs
    Debtfreein5yrs Posts: 62 Forumite
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    Today has been a fantastic debt busting day. By being frugal all week we have managed to make a £200 overpayment to one of our loans. This loan is attracting really high interest so by making this payment we have saved a massive £44.41 in interest. Just goes to show how 'snowballing' debts can make a huge difference!!
    Really looking forward to updating our signature in the morning
    Total Debt April 2017 = £98086.93 :eek: May 2017 paid back £678.63/£97943.93 or 0.69%
    Short term financial goal :-
    Clear £7107.78 of high interest debt (includes clearing overdrafts)
    April 2017 £0/£7107.78 paid. May 2017 £678.63/£7107.78 paid (9.54%)
    Weight loss goal:- Lose 30lbs by Christmas 2017 April 2017 1/30 lbs lost
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