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Adventure wanted, but first we must rid ourselves of debt
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The £180 dd for CC2 has come out today, so I've also made an additional £25 payment to it, as it takes the balance to £2,997.50. :j I do love getting into the next band of numbers. Today's payments takes me to 40% paid towards my debt repayment target, which I'm really pleased about.
When I set the repayment figure I wasn't sure how well we would get on, but luckily DH has done lots of additional work over the past few months which has really helped. Hoping to bring in some more additional money doing surveys (currently at £13 on PA), using cashback sites when I can and decluttering.LBM Aug 2017.
Debt at LBM - £30,055
Debt at highest - £43,148.59
Current debt - £18,880.00
EF - £1,000.00
Challenges
PAYDBX 2021 - #29 Pd £2,355 / £8,000 PAYDBX 2020 - Pd £6,459.00 | PAYDBX 2019 - Pd £16,945.60 | PAYDBX 2018 - Pd £15,010.60.0 -
40% is great :T :T"Good financial planning is about not spending money on things that add no value to your life in order to have more money for the things that do". Eoin McGee0
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Thanks Jwil.
I've updated my spreadsheets today and been chatting with DH about our debt levels and potential DFD. We are on course to pay off CC2 in July and then the money we repay each month to this card will move to CC3. I keep wondering whether I should start PADing towards our mortgage, or at least the small variable rate part (around £3k). It's currently being charged 3.89% interest, which has been around £9 a month interest. The problem is that although it is my highest interest (everything else is 0%), I'm not sure if I'm worrying about it unnecessarily. I do sometimes have a tendency to go a bit overboard and try and do too much, so this may be one of those times when I really should concentrate on making our unsecured debts less eye watering before worrying about anything else...
I've made a payment of £7.50 to CC2 today (couldn't bare it's odd figure for any longer!!). Half way through the month and I'm already looking forward to my end of month debt summary! (This is a really really sad thing to admit to!!)
Next week DH should be working about 6 hours (possibly a few more), which will be brilliant. Any extra hours he can do whilst he's on his course is a bonus. Next week will be the end of his second week of the 6 week course. He'll also have to do a weeks practical training, but as yet we have not been told when that will be happening. Really looking forward to him being back at work and me being more in control of what money we will be getting in and when.LBM Aug 2017.
Debt at LBM - £30,055
Debt at highest - £43,148.59
Current debt - £18,880.00
EF - £1,000.00
Challenges
PAYDBX 2021 - #29 Pd £2,355 / £8,000 PAYDBX 2020 - Pd £6,459.00 | PAYDBX 2019 - Pd £16,945.60 | PAYDBX 2018 - Pd £15,010.60.0 -
Today's pad:
£5 to CC2
15p to debt savings
Debts at 16/4/18
CC1 - £0
CC2 - £2,985
CC3 - £10,460
CC4 - £12,220
Total debt - £25,665
Emergency Fund - £1,031.50
Debt Savings - £6.26LBM Aug 2017.
Debt at LBM - £30,055
Debt at highest - £43,148.59
Current debt - £18,880.00
EF - £1,000.00
Challenges
PAYDBX 2021 - #29 Pd £2,355 / £8,000 PAYDBX 2020 - Pd £6,459.00 | PAYDBX 2019 - Pd £16,945.60 | PAYDBX 2018 - Pd £15,010.60.0 -
Just finished my daily accounts checks and ynab update. Have rounded down the bank account and sent £11 to CC2 and 26p to debt savings.
Had my renewal letter through for DC3s swimming next term. I'm not really sure how but I've managed to have extra saved in that account than needed (about £55!). Obviously is a good problem to have! I think I'll have to review the monthly amount I budget, as think it's the half terms which throw the figures out. Either I should reduce down the monthly amount or continue as I am and shift any extra money over when I get the bill through. My car insurance is due next month, so might try and do a quote soon so I have a rough idea of price. That way if I haven't budgeted enough I can transfer the extra swimming money to the car account.
Me, DC1&2 have all got the dentist today. I'm always half dreading it, as no matter how many times I tell the DC how important teeth brushing is they never seem to stand still/stop spinning the toothbrush/brush properly. Really hoping their teeth are in good condition. I'm hoping they'll give my teeth a bit of a clean, but they seem really reluctant to do a scale and polish. Before we moved back to this area (5 yrs ago) we'd have a scale and polish every year. Have been saving money each month for dentist bills for me & DH, so unless anything big needs doing (which hopefully it doesn't), then the money is sat waiting to be swapped from savings.
Anyway, best get on and get ready for the day.LBM Aug 2017.
Debt at LBM - £30,055
Debt at highest - £43,148.59
Current debt - £18,880.00
EF - £1,000.00
Challenges
PAYDBX 2021 - #29 Pd £2,355 / £8,000 PAYDBX 2020 - Pd £6,459.00 | PAYDBX 2019 - Pd £16,945.60 | PAYDBX 2018 - Pd £15,010.60.0 -
Good luck at the dentist, ours make us have scale and polish 2x a year regardless of private or NHS patient. I hear you with the kids arsing about at toothbrushing !0
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Well done on the savings!
Agree on the toothbrushing!"Good financial planning is about not spending money on things that add no value to your life in order to have more money for the things that do". Eoin McGee0 -
The dentist went well. Kids were told they do a good job brushing, which I was a bit shocked about!! No fillings needed, so only cost £21.60, which is good. Need to mention the scale and polish before she starts next time, as by the time I was going to mention it she'd already raised the chair back up!
Yesterday I paid £4 to CC2 and 58p to debt savings. Today's payments are £20 to CC2 and 42p to debt savings.
Think I might use the rounding down debt savings accounts to make overpayments on the mortgage. Still not 100% sure though, as I really would like to get rid of the cc's as soon as possible. I read that they are expecting the Bank of England interest rate to increase next month, which will mean our £3k variable part of the mortgage will have more interest charged. At the moment it's being charged 33p interest a day and we pay just over £20 a month. I'd love to overpay on our main fixed mortgage too, but don't think I could stretch to paying the daily interest of £3.59 every day, not without hindering our debt repayment.
Today is set to be another glorious day. I really need to find our sunscreen and order some more ready for the summer. Luckily the friend we visited yesterday had some, as I wasn't really prepared for it to be so hot. Was so lovely being able to spend the afternoon outside yesterday. Kids had a massive water fight with their friends and ran loads, which meant both DC1&2 were awake after 6.30 (DC1 is usually up around 5!).
LBM Aug 2017.
Debt at LBM - £30,055
Debt at highest - £43,148.59
Current debt - £18,880.00
EF - £1,000.00
Challenges
PAYDBX 2021 - #29 Pd £2,355 / £8,000 PAYDBX 2020 - Pd £6,459.00 | PAYDBX 2019 - Pd £16,945.60 | PAYDBX 2018 - Pd £15,010.60.0 -
It's so nice having this good weather and getting outside!
I'm really hoping they wait a little longer before putting rates up again"Good financial planning is about not spending money on things that add no value to your life in order to have more money for the things that do". Eoin McGee0 -
Another scorcher of a day
. Had a brilliant morning reading nature books with the DC in the garden, before taking the DC to tennis lessons. DH popped to the shops on his way home and did a bbq for dinner. I looove bbqs. (Also love not having to cook!!).
Money wise - The dd for CC3 came out today and we also managed to transfer £75 to CC2. Debt is going down steadily, which I'm quite happy about. The Grocery budget has gone horribly wrong this month. Really need to do better.
Next month is DC1s birthday, so I need to set a budget for presents and stick to it. He's outgrown his old bike, so hopefully I can find a decent secondhand bike for sale locally. Not sure whether to go with a bmx style or one with gears. A 'normal' bike with gears may take a while to get to grips with, but at some point he'd have to learn how to use them. Hopefully can pop to Halfords to try different sized bikes out soon (but will definitely try and buy a secondhand bike).
Hoping DH will start building the new decking area this weekend. Fingers crossed the weather stays nice.LBM Aug 2017.
Debt at LBM - £30,055
Debt at highest - £43,148.59
Current debt - £18,880.00
EF - £1,000.00
Challenges
PAYDBX 2021 - #29 Pd £2,355 / £8,000 PAYDBX 2020 - Pd £6,459.00 | PAYDBX 2019 - Pd £16,945.60 | PAYDBX 2018 - Pd £15,010.60.0
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