if i make a start . then there has to be an end right ?!

mumof3.12kindebt

Or.i can use the 250 towards debt instead of to house fund and be completely debt free in 14 months

mumof3.12kindebt

Whatever we decide if we stay on the right path we will be looking at buying in 3-5 years. With at least a 10% deposit

mumof3.12kindebt

Oh I nearly forgot. My food shop came in under budget. £47 for the week.

mumof3.12kindebt

I've decided.
Between now and the first of January I'm going to concentrate on my debt and building an emergency fund.

From January I will split money after bills between debt and savings

This way I see my debt go down but savings go up and will hopefully help me to stay focused better.

DebtFreeDuo

The way I decided was comparing the interest, if my debts had cost more than I would have gained by saving then I would have used my savings to clear my debt but as I gain so many benefits from my ISA it doesn't make any sense for me to pay it off, also considering I hope to have both my loans cleared in a little over 6 months and will therefore pay no interest after that.

mumof3.12kindebt

Debts to be paid.
November
100 to credit card
100 to catalogue
184 car

December
100 to credit card
100 to catalogue
184 to car

January 2018
300 to catalogue to avoid interest
100 to credit card
200 to family member
250 house fund
150 emergency fund

February
300 to catalogue
300 to credit card
250 to house fund
150 to emergency fund

March
500 to catalogue
100 to credit card
250 to house fund
150 to emergency fund

April
Catalogue paid off
Credit card 600
House fund 250
Emergency fund 150

May to November (8 months)
600 to credit card
250 to house
150 to emergency fund

Remaining on car £4840

This is my plan and after a lot of changing my mind is what I'm going to stick too.
It will mean I should be debt free excluding my car in 14 months or less

I will then focus on paying off my car early along side continuing to save for a deposit

By the end of next year I would of cleared over half my debt and have around 3k in my house fund.


We all have to start somewhere

mumof3.12kindebt

Any extra on the off chance I do earn I will put towards one of my debts including my car.

117pauline

All I can say is

WOW

You are doing a fantastic job of paying off your debts.

Have you thought of doing an SOA. I suggest it as its a starting point for you and your partner. It will help you to budget for the monthly, irregulars and yearly costs.

You mentioned wanting to quit smoking. How about working out how much it costs you both per year and what that would do for your house deposit fund.

I do hope though that you are building some treats for you all along the way. I have found my willpower can suddenly disappear but a small treat can be just enough to get you back on the straight and narrow.

I almost always suggest a spending diary which also includes how you are feeling - to see if there are any particular triggers for you.

Have a good week
Pauline

mumof3.12kindebt

So sorry pauline. I thought I'd replied.

mumof3.12kindebt

My new years resolution this year is too quit smoking. I'll put what I would of spent in a tin and empty it after 12 months.

This week has been an expensive week. Car service and mot with some repairs set me back 330 pound

New phone after partners old one finally gave up on me 120 pound.

Fuel 48 pound today
Electric 30 pound
Tobacco 20 pound