Debt, Debt and MORE Debt!!

chelseablue

The £1,200 for Christmas, who do you buy for?

Ilona

I think the OP already has a plan, she seems to know what she is doing. She hasn't asked any questions therefore no answers are required. We can make suggestions but ultimately it's down to the OP whether she acts on them or not. OP, we are here to help if you need us, just ask.

ilona

EssexHebridean

TheRoders wrote: »

I think £1600 a month to the debts which is double the monthly payments and gets me cleared in 2 years is good enough. I don't believe I need to cut back any further on what I have done now. I don't have sleepless nights in all honesty.

Yes, 1 dog. I have tried other cheaper raw diets but his stomach is so bad it doesnt agree with him. This raw diet seems to be the one that works. I can't change him. I've tried. That's fair - my parents have a similar situation with theirs.

I do online shopping with Asda to make sure I only buy what I need. I learnt that lesson a few years ago!

Seriously, all my outgoings are the cheapest I can get them. I've just changed the house insurance this month saving £10 a month. All my other insurances are the cheapest I can get as I ALWAYS shop around!

Council tax is over 10 months as I'd rather have 2 months "free". Good planning but you must make sure you account for the two months where you're not paying -
transfer it straight to a debt as soon as it appears as income those months, I'd suggest

My spreadsheet does cover everything. The monthly repayments to my debts were outlined in my first post. £800 a month and they are detailed on the 2nd spreadsheet I put up with my debts.

Just one further point I will make based on your comments above. If one of you gets made redundant tomorrow - no matter how likely or otherwise that is - will that change the "sleepless nights" situation? Once you are at the point of having a full picture of this level of debt, it's often a sound plan to pull belts in severely for at least the first few months to make as much of an impact at reducing it as quickly as possible. The better the financial position you can put yourself in the better armed you are to cope if the worst happens. I understand that you don't want to compromise on your lifestyle - but looking at the car finance, the furniture finance etc, you perhaps need to revisit whether the lifestyle you are currently living is entirely sustainable.

I hope you'll keep up informed of how you go with this, and as Ilona says, feel free to ask if you need any help or advice on anything.

Debtslayer

TheRoders wrote: »

I think £1600 a month to the debts which is double the monthly payments and gets me cleared in 2 years is good enough. I don't believe I need to cut back any further on what I have done now. I don't have sleepless nights in all honesty.

Yes, 1 dog. I have tried other cheaper raw diets but his stomach is so bad it doesnt agree with him. This raw diet seems to be the one that works. I can't change him. I've tried.

I do online shopping with Asda to make sure I only buy what I need. I learnt that lesson a few years ago!

Seriously, all my outgoings are the cheapest I can get them. I've just changed the house insurance this month saving £10 a month. All my other insurances are the cheapest I can get as I ALWAYS shop around!

Council tax is over 10 months as I'd rather have 2 months "free".

My spreadsheet does cover everything. The monthly repayments to my debts were outlined in my first post. £800 a month and they are detailed on the 2nd spreadsheet I put up with my debts.

You sound really defensive in your post. People here are trying to help. I dont think you've got to 'lightbulb' moment stage yet. But looking at your previous post in March your debt has increased since then. Then you posted that you were in a lot of debt but it was manageable but said you had managed to save £800 extra to throw at the debts, if this is the case they should have gone down and not increased.
I hope you have your lightbulb moment soon before its too late. But maybe your level of debt really truly doesn't bother you.

TheRoders

I have cleared 4 debts already this year.

I am not being defensive. Not at all. I believe that the plan I have in place will see me paying off £50,000 in 2 years whilst still being able to have a life. I think I have the balance just right now.

The change I have made now is that my savings and debt were all rolled into one before now. It was a mess because there was no differentiation which meant I couldn't plan. Splitting them out means I can now see clearly my savings plan and my debt plan.

My hope is to keep my focus by posting updates on here.

My overdraft is being paid off in full this month. My next one is in November.

tempus_fugit

Well, keep us up to date, it will be good to see how it goes. But do consider some of the suggestions from people here, they are good suggestions from people many of whom have been through the same experiences, and any way of paying off debt quicker is worth considering in my view. The interest is better off in your pocket after all.

Ilona

TheRoders wrote: »

I believe that the plan I have in place will see me paying off £50,000 in 2 years whilst still being able to have a life. I think I have the balance just right now.

My hope is to keep my focus by posting updates on here.

My overdraft is being paid off in full this month. My next one is in November.

It's good to know you are on the job. If this is to continue as a diary, to keep you focused, and you don't need any help, you could maybe move it to the Diary section. Then people will know where to come for updates.

Ilona

TheRoders

A quick update from me. I have also started a diary

The great news is that this month I cleared the one overdraft. I have also reduced my Lloyds CC to £1000 limit from £5000 and I've closed the £650 overdraft!!

I have juggled the figures based on all your fab advice and am throwing on average £1800 to the debts every month while still being able to put a bit away for a holiday next year The payments total £800 a month so an extra £1000 a month towards the debts should see them gone (apart from Black Horse) by June 2019. Can't Wait!!!

iolanthe07

Absolutely with you on the raw food diet. My sister's dog was so ill with gastric troubles that she was desperate and there was talk of euthanasia until the vet suggested the raw diet. Dogs never evolved to eat cereal, and 'meat derivatives' can be any horrible sweepings from the abbatoir. Well worth the extra expense, imo.

TheRoders

I have noticed recently that he is putting on weight so am going to reduce him to 750g a day rather than 1kg so that should save £25 a month Every little helps!! But yes, I can't change or I would lose him