FinancialBliss: My mortgage free journey…

financialbliss

Long time diary followers may recall that I did a month end interest post giving a state of affairs of the mortgage and payments made month by month.

So, I've got a similar but slightly less detailed post for the credit cards. Here I'm showing a card summary and then breaking it down, card by card.

Here's where we are just now - figures in brackets are the opening balances as of 1st January 2013.

Overview: (Opening Balance: 17,547.02)
Month / Spending / Payments / Difference / Balance
January: 1,042.91 / 2,250.00 / -704.02 / 16,843.00


Tesco Card (Opening balance: 4,750.00)
Month / Spending / Payments / Difference / Balance
January: 0.00 / 1,500.00 / -1,500.00 / 3,250.00


Nationwide Card (Opening balance: 8,684.06)
Month / Spending / Payments / Difference / Balance
January: 503.07 / 184.06 / +319.01 / 9,003.07


NatWest Card (Opening balance: 4,112.96)
Month / Spending / Payments / Difference / Balance
January: 1,042.91 / 565.94 / +476.67 / 4,793.30

So, that shows January wasn't off to a good start. Paid £2,250 yet only dented the debt by £500. Plan to continue with £2,250 a month to the cards, especially as the Tesco card statement has this month shown that I have until 24th March to pay it off completely. Concentrating on that card for now.

If I've picked up any newbie diary followers, the credit card debt is a result of stoozing, where I spent on the cards, paid off just more than the minimum and used the freed up cash towards the mortgage.

All cards are currently at 0% with then needing clearing in the order they are listed, ie Tesco, Nationwide, Natwest.

FB.

HelenDaveKids

I still find the thought of stoozing really scarey and its the one big area havent addressed as a MFW. Dont know if Ill ever be brave enough!

financialbliss

I really can't believe a whole month has past without a single diary post by me. Would never have occurred when crunching the numbers with the mortgage.

Well, February has been busy. Our washing machine died (only 4 years old). We bought four suitcases. The villa balance needed paying. Day to day spending, fuel, couple of meals out etc. Thus we spent lots on the cards.

It's looking like this just now with regard to the credit card debt:

Overview: (Opening Balance: 17,547.02)
Month / Spending / Payments / Difference / Balance
January: 1,042.91 / 2,250.00 / -704.02 / 16,843.00
February: 1,793.15 / 3,000.00 / -937.14 / 15,905.86


Tesco Card (Opening balance: 4,750.00)
Month / Spending / Payments / Difference / Balance
January: 0.00 / 1,500.00 / -1,500.00 / 3,250.00
February: 0.00 / 1,500.00 / -1,500.00 / 1,750.00


Nationwide Card (Opening balance: 8,684.06)
Month / Spending / Payments / Difference / Balance
January: 503.07 / 184.06 / +319.01 / 9,003.07
February: 269.71 / 103.07 / +166.64 / 9,169.71

NatWest Card (Opening balance: 4,112.96)
Month / Spending / Payments / Difference / Balance
January: 1,042.91 / 565.94 / +476.67 / 4,793.30
February: 1,246.28 / 1,396.93 / +396.22 / 4,986.15


I also managed to mis-state January - too much spending added to the NatWest card, which once I tried to align with the February data, I've just spotted the error.

The Tesco card needs paying off completely around 8th March. £1,750 coming out of savings for that.

Aim to not be a whole month before my next post here.

FB.

financialbliss

Quick item of good news. I' made a payment of £1,500 towards the Tesco credit card earlier in the week and I made a further payment of £250 today, meaning the card balance once cleared will be zero.

Can't decided to call up and close the account as soon as they payment clears or wait until the statement date (towards the end of the month), then close it. Don't suppose it really matters.

Turning in now, as I'm at work tomorrow.

FB.

financialbliss

I started this earlier in the week, but never got around to completing / posting it...

Sheepish hello.

Let me introduce myself. I’m Financial Bliss – I’m 43 – I’m a software developer and I’ve been involved in a software project at work for the last two years. We went live with the computer system in April. From February, I’ve been doing some pretty silly hours at work – a sustained occurrence of between 55 and 60 hours a week working mostly 6 day weeks with my maximum being 61 ½ hours in one week.

Luckily, I’ve been able to claim overtime for this, so I’ve been beaving away with the work / overtime. It’s only just got a bit quieter this last week – two hours overtime for last week was I think one of my lowest claims.

You may recall I started cycling into work last year. Since February, I’ve ditched the bike and have been getting the bus into work so I can get there quicker and crack on with the work. Have only just reverted back to the bike in recent weeks as the weather has improved and things have settled down a bit.

Well, I can almost see light at the end of the tunnel, but boy have things suffered.

Me: I’ve felt immense stress at times, exhaustion, depression, and wanting to quit my job.

Family: Leaving for work when your kids are in bed and also getting back when your kids are in bed just isn’t a work / life balance.

Social life: Well that just stopped. I managed to work 13 days straight through and things such as a social life are the first to go.

MSE: As you have probably noticed, I’ve not logged in for ages. Simply didn’t have time.

But on the plus front, I’ve logged around 150 hours of overtime – some of which is at time and a half and while I’ve had some, I’ve a substantial chunk outstanding.

Good news, is that things are returning to normal, but they will be getting quieter for a few weeks soon, as I’m off over the pond to Florida on Monday. Really can’t wait and feel I now really deserve the break.

Correction - Flight in less than 12 hours - I'm off to bed in a mo...

Financial Bliss

I_want_a_baby

Hope you have a lovely relaxing break FB and you can get things truely back to normal on your return (and even up your work/life balance). Have an amazing time chilling out x

fothers365

Have a fantastic time, I hope you manage to relax and unwind and that the work/life balance settles on your return.

I read your whole diary when I was starting this journey a couple of months ago and you have been a huge inspiration to me as have your spreadsheet tutorials!

CathT

Have a fantastic much needed break FB. Hope work is less stressful and demanding on your return.

Peonie

FB, have a great holiday. Enjoy the time with your family and recharge your batteries.

drinkduffbeers

FB just read post 1880

Gave me a warm fuzzy feeling:j. Congratulations and many thanks for helping the rest of us

Look forward to opening a bottle myself next year