Tidying up the mess

in_need_of_direction

Looks to me more like giant leaps than babysteps

BabyStepper

I've just been messing around with the mortgage overpayment calculator. Discovered that if we were to pay £1400 to the mortgage as an overpayment every month then it would be gone in 6 years.

As if. :rotfl: It's nice to dream though.

girlatplay

:T brilliant post! Should go in the money tips

(the Ten Lessons one)

BabyStepper

I've started to get things ready for me and OH's holiday next week. Dug out the suitcases last night, making lists of things to take and getting a bit of laundry done. It feels very different having everything paid for upfront - so much better! I'll be withdrawing our spends later and putting it in envelopes.

Also realised that with reduced payments at the end of the month, the debt won't dip below £10k as I'd hoped. Need to wait another month for that. Ah well, patience, we will get there eventually.

BabyStepper

girlatplay wrote: »

:T brilliant post! Should go in the money tips

(the Ten Lessons one)

Thanks for this. Not sure what the money tips are though? :rotfl:

girlatplay

BabyStepper wrote: »

Thanks for this. Not sure what the money tips are though? :rotfl:

The weekly email. MSE's Money Tips

BabyStepper

Got home last night from our break, just before the lightening struck, and wow we could not have picked a better week to be away! The weather's been great and we came in only £7 over our £1100 budget. Very pleased about all of that.

But back to reality now and juggling numbers. Strangely some of my invoices have been paid early but I'm not complaining. Gives me time to get ready for the new month.

BabyStepper

Time for an update. I took a smaller wage this month so less paid off the debt, but I did manage to get half of the remaining Santander balance paid so that's good. All other minimums paid. I now have 3 cards with small (ish) balances so the new goal is to get those cleared up over the next 3 months. That would leave only 2 debts to manage, can't wait for that day.

[STRIKE]Barclaycard (1) £3,044.54[/STRIKE] PAID OFF
[STRIKE]Lloyds (1) cc £434.33[/STRIKE] PAID OFF
[STRIKE]Barclaycard (2) £517.12[/STRIKE] PAID OFF
[STRIKE]Hitachi loan £970.60[/STRIKE] PAID OFF
[STRIKE]Overdraft £2,000 [/STRIKE]PAID OFF
Santander cc £3,435.67/£855 0% Dec 2019
Barclaycard (3) £1,250/£1,045 0% Feb 2020
MBNA cc £5,325.99/£4,880 0% Feb 2020
Lloyds (2) £907.57/£770 0% Nov 2020
Halifax cc £3,342.25/£2,795 0% Oct 2020

Total May 2018 £21,228.07
Total August 2019 £10,345
£10,883.07 paid off :T:T:T

Nothing much happening this month. Just as well really as the budget is quite tight. Just the usual sticking to plan and trying to think of free things to do to stay entertained.

enthusiasticsaver

I think that is a good idea to get those three smallish balances gone then presumably focus on MBNA as the one which comes off 0% in February of next year. So motivating to get rid of the Santander, Lloyds and Barclaycard. Glad you had a nice break. We have had gorgeous weather in the South West for well over a month now.

BabyStepper

Isn't the sunshine great? Finally we get a good British summer, what a treat for us mse-ers who are saving money by not going abroad this year. Yes paying off those small debts will be quite motivating. We are keeping the Barclaycard as they have continued to send good deals and if we need to transfer a balance from MBNA in February then that's where it will go. The ultimate goal is to have no credit cards.

Also noticed we have over 50% of the debt paid off. :T I didn't think this would feel like a big deal as we are only half way there but actually it feels like getting over the hump of a mountain. It's all downhill now, hopefully faster and easier than the initial climb, just hoping I don't get sore knees on the way down.