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Well, a month of lock down has gone by since I last updated - I've never found it so easy to stick to a budget; clothes and shoes spending has gone out of the window as I have no where to go and a takeaway treat once a week is definitely not as expensive as an occasional night out (to be honest, a night out is rarely less than £80!). I've stuck to minimum payments and focusing on my emergency fund, it's slightly frustrating that I have enough saved to clear the smaller CC but can't - I'm not paying interest so there is no financial detriment to this course of action but it would have been nice to finish the month with less than £10k of debt!17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
Emergency fund - £977.430 -
I would pay the card anyway so it is done.
I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.1 -
2 months since my last update but there isn't a lot to talk about when you can't leave the house.
Today, I have just made my final payment to CC1! The debt is under £10k and it feels like the end is in sight. If all goes to plan, I may be debt free by February and then I can start working on the mortgage.17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
Emergency fund - £977.430 -
Good news on CC1 & the debt going down
I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.1 -
I've not been on here for a while but I'm still plodding on with my repayments and am still on track for February. I have probably saved a fortune on nights out, lunches and clothes thanks to the lockdown, not to mention no holidays (although I am definitely going a bit stir crazy now!). The spending has been a bit higher in the past few weeks but I think this is just boredom and looking for the quick dopamine hit that buying something new brings.
Total debt is around £7000 now which is amazing considering where I was a couple of years ago, I have an emergency fund sitting at £1000 and £30 each month goes into a gift fund for birthdays and Christmas; I feel like I am in a good place financially, although, I am getting impatient now that the end is in sight.17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
Emergency fund - £977.430 -
Well done.When is your loan due to finish?I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.1 -
Thanks Beanie. The loan is due to finish in September but I should be able to repay by February (as long as nothing extreme happens!)17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
Emergency fund - £977.431 -
I'm getting so impatient now that the end of my repayments is in sight! All being well, I can be done by March (Just in time for my birthday). Ive probably saved over £1000 not being able to go on holiday and who knows how much I have saved thanks to no more £10 sushi lunches and no popping into the city centre because it is on my way home, although I'm desperate for life to go back to normal and I mean actual normal not 'new normal'! Weirdly the debt repayments have been a good thing because they have given me something to focus on and to help me feel like some good has come from this disaster of a year.17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
Emergency fund - £977.431 -
I have no loan! I've emptied my emergency savings but I am loan free (and the interest saved definitely outweighs the interest earned on the savings account). It feels like the end is in sight more than ever.17/06/18 - loan £11,527.23, CC1 £3,682.79, CC2 £2,356.69, CC3 £2,128.70 - total £19,695.41
01/03/2021 - CC1 £1126.13 CC2 £1850 total £2976.13
Emergency fund - £977.431 -
Wow. Wow. Well done @Dragonpie.
What's next on the list then? CC1 or 2?I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0
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