Working Hard Debt Diary - Here goes

WorkingHardDFW

Hurray:j - the useless lump of metal (my OH's extra car:mad: :mad: ) has gone to the garage to be MOT'd. The garage had to come out to get it since it wouldn't start and the recovery didn't cover it but it was just a dud battery (less cost hopefully).

Now its just fingers crossed on the MOT.

Once its MOT'd it will be sold asap and the money thrown at the first taget CC debt. I want it off our hands by the end of Feb so watch this space. With a bit of luck we should be able to clear a debt by April one of my challenges...I really am hoping that we can do it.

Bit job interview tomorrow which I need to prep for tonight...and at least 5 other applications to complete asap....:rolleyes:

Sold another 6 items on ebay today which is a further £30 off the CC - every little really does help.

Took my steamer back to Argos today since the handle broke off after only a few months. Got a full refund (£40) and bought another one on offer from £65 to £19 so an extra £20 up to throw at the debts.

Does anyone have any comments ref the Mortgage holiday v clearing a credit card? Any thoughts welcome

beanielou

I think the MH is a good idea but have to say that Im not an expert!
HTH

WorkingHardDFW

Thanks for that Beanielou.

We've never taken a mortgage holiday before so it feels a little strange. It seems to make sense to me and OH but as I've said we've not done the figs or spoken to the BS.

It feels like we are coming up for air in our struggle with debt (that sounds a little dramtic doesn't it) but I want this year to count and get at least a couple of debts cleared if not more if I get a new job.

Once I've got my batch of job app's done I've try and concentrate of working out the figs on the MH.

WorkingHardDFW

The bad news....

My OH lump of metal failed its MOT......:mad: and to repair will cost nearly £1k which we don't have. Now faced with the idea of having to sell car with no MOT since it doesn't make sense to spend the money.

My OH and cars are not a good combination I have finally realised.....

Any hopes of clearing the target one cc by April are now shot....

It makes me so mad...

Sorry all I just had to share the frustration you know what its like! :rolleyes:

dancingfairy

Sorry about the car issues . Re the mortage payment holiday - I am not an expert in this either but if it is only for a fwe months then I would say go for it. If it allows you to pay off your debts quicker then you can use that money to pay off the mortgage quicker if you see what I mean. I guess what it comes down to is is the rate on your mortgage less than on your other debts - in which case it would seem to be the correct action to take a holiday and pay off the other more expensive debts.

WorkingHardDFW

Not having a very good week at present:

OH Car now back from the garage without an MOT. Plan is to sell it asap for parts/spares/doing up (its in fairly good nick just needs a bit of work doing!)

The present balance of the target CC, for the clear a debt by April challenge is £2400. I want to achieve clearing it by April. I was hoping to knock at least £1.5k with the car but that can't happen now - I am letting it go...therefore my reduced target for selling the car is £500 plus insurance and tax back.

I put in for an additional 45 hours at work which I reckon will bring me £500 after tax next month.

In totol thats another £1k off the total leaving £1400 to go....

Ebaying is continuing to bring in small amounts - I would say £150 between now and April it things continue as they are.

Mystery shopping is doing Ok and I've just signed up for a new website so I should get a bit more.

Continuing the job hunting which if I get a new job my income will go up considerably which will really help reduce the debts.

Still considering the mortgage holiday but I want to get shot of OH's car first before I embark on that.

Same old really just like the rest of us but the position is improving.

WorkingHardDFW

Finally got the OH's car up for sale and have had a lot of interest already and 1 bid for the reserve price which is fantastic!! I try not to think about what it cost him and what he has spent on it ....positive thinking and all that.

Got a few more bits listed on ebay and get rid of all the outstanding parcels. I don't take paypal for purchases since I think that they charge too much especially on small sales. Planning to get loads listed this week to really have a chance of cracking the target CC debt by April. With the car and my extra work earnings we're still £1.5k short so I need to sell an awful lot between now and then

Mind you I've still got my Quidoc, Greasypalm and Topcashback earnings to come in. I've not had a payout from any of them before (only got the hang of them in November) so they should bring in another £150.

Still job hunting and still gots a few irons in the fire.

Felt quite depressed about fin situation earlier on in the week but now feeling a little more positive. I'm a cup half empty person and I was sat here thinking about the worse what if's rather than about how far we've come in the last six months. Incredibly I think we are under 50K now but I don't want to change my sig until I've checked all my CC's balances etc. Out debt is definately reducing which is what we want - big wipe outs aren't going to come along very often.

My Oh this morning emailed me to say his was drinking a cup of coffee he'd taken with him to work rather than stopping at the services to buy one. Saving a couple of quid were his words. Its so great to know that he is on board with things now and we are working as a team.

Sorry for the long post - its so theraputic :rolleyes:

WorkingHardDFW

Managing to get through half term week without spending too much money which is great but the kids have had a lovely time. We've had plenty of time in the park, outside and in some lovely play areas. We went indoors today but got a good deal so pleased with that. I've remembered to take drinks and snacks with me so I'm not forking out for stuff whilst I'm out.

Brought my spending diary upto date today which was good and got all the current CC balances so I've updated my signature (under the new rules). I am so pleased to be under £50K :eek: now at a still very scarey £48,621 :rolleyes: . Now I feel that we are in control of what we are spending and where all the money is going it feels like the only way for the debt to go is down. I'm sure we'll have some hiccups on the way but these will have to be dealt with. We both want to see that debt figure really reduce this year.....

The budget needs revisiting since from the spending diary I can see that we've spending on things I've not budgeted for like days out in the holidays. In theory that should be offset against not spending for holiday childcare but now I'm budgeting properly I want every penny accounted for and set against a budget. Slightly sad I know but it seems to be working for us.

The Car is doing well on ebay (I think - not sold a car like this before) so fingers crossed.

So its heads down and focusing on the job interview next week. If I get offered it then its decision time big style....here's hoping :rolleyes:

WorkingHardDFW

Sold the car................:beer:

Can't quite believe it and won't until the car is gone and the money is in the bank. Got £200 more of it that we were expecting....once received it will all go off target CC one............we are so close to paying that one off now only £1200 left to go once my extra money comes in and the car money. We should also get a refund from the insurance and the car tax all of which will go straight off the debt. The end of the first target cc is in sight. With only £1200 to go on it by the end of this month some serious ebaying etc should sort that out.

Once that one is clear the Halifax one is next....onyl £4700!! But unless OH gets a bonus clearing that will be down to good old fashioned slogging.

Went for a second interview today for a full time job I think I really want.....fingers crossed but I won't find out until next week..........Oh the waiting is awful.

wendybird

Hello -

I've just read your diary and wanted to say what a great job you are doing!! I'm also looking for a new job and have just been offered a second interview for a job I think I quite fancy

Just wanted to say good luck and well done!