Wobbling my way out of debt

clearmydebts

findingthisdifficult wrote: »

Just checking in, we're in limbo land before pay day so nothing too exciting going on.

I'm finally starting to see the end of this nasty cold, the usage of kleenex has finally started to slow.

I am super excited that I've just realised that as of the 1st January (2nd if we have to count the bank hol) we should be in the £6k bracket on the loan - it'll be like a late Christmas present.
I don't like to wish my life away but getting out of this loan repayment cycle will make such a difference to our lives.

That's amazing!

findingthisdifficult

Evening all, :hello:

How have I managed to ramble on for 8 pages?! Thanks for putting up with me.

The weather has really taken a turn hasn't it? It's so chilly but we are resisting putting the heating on, we've only caved once last weekend.

Some wobbling has occurred, did some online research on latest TVs and almost managed to let Mr FTD convince me to go and buy one (using HP)
Luckily I thought it through and told him to remember that this time next year we will be looking at our final payment on the never-ending loan. We could buy a new TV outright without needing to save for more than a couple of months. - this is the first time it really feels like I've had the infamous lightbulb moment.

mark55man

yay - butnow you have done without it for 2 months about 12? think how much of an emergency fund you could put together.

for me the lesson on DFD is both that you clear your debts from pre LBM, but also that you don't get into the situation again. for me this
is mainly about spending differently and not returning to pre LBM ways

findingthisdifficult

Thanks for stopping Mark and sound advice, I can imagine it would be super easy to get back in to the pit of hp and owing people money, I will definitely have to be careful of this.
Luckily we are building up our emergency fund nicely, even when we're out of the loan repayment cycle we'll still be paying in to the EF. Hopefully we will have moved to our 'forever' home by the time that comes and we'll also be able to use money to overpay on our mortgage.

findingthisdifficult

A spendy weekend in the FTD household, luckily funded by Mr FTD's side hustle so not too much damage done. I had to buy some new jeans and winter shoes, this is a rare occurrence...I absolutely hate clothes shopping. Mr FTD treated himself to a couple of things too.

It was a nice little pick me up a few days before pay day, need to redo my budget as I have a couple of things to factor in next month.

findingthisdifficult

It's nearly payday and I think my expenditure is done for the month so I'm going to do a check over the accounts tonight and then tomorrow if nothing goes out I can tidy up the loose ends, moving anything left over to the credit card and savings ready for a new month to begin on Friday.

findingthisdifficult

So we made it to payday, I sent £13 to the card yesterday and paid off £185 this morning, usually I would only pay £100 and keep the £85 just in case but decided to take the plunge and pay the amount I budget for it. Hopefully I won't regret that later in the month, only time will tell. Back tomorrow with a loan update, should hopefully be entering the £7k bracket...

enthusiasticsaver

Good decision to delay on taking out a TV on HP until the current debt is gone. A good way to think of it is that debt is things you have bought or enjoyed in the past which you have not yet paid for so getting rid of that before embarking on paying for new things you want is a wise move.

The budgeting sounds like it is going well.

findingthisdifficult

FTD's update - sorry I've been a bit hit and miss but I have been reading and not posting so not all bad.
We're in to the £7k bracket on the loan, I remember getting excited about being below £10k so this is a pretty big deal and only 14 payments left to go on the longest standing debt we've had.

I was also shocked to notice that my phone contract ends at the end of March, normally I would have paid more than £100 to upgrade to the latest phone early. I haven't even considered that this time, I'm kind of ok with the phone I've got so that could be some progress too.

Got a cheeky tax rebate too, less than £20 but still money that's better off in my hand than the tax man's...I'm thinking I'll pay this off the card too as every little helps it would seem.

clearmydebts

findingthisdifficult wrote: »

FTD's update - sorry I've been a bit hit and miss but I have been reading and not posting so not all bad.
We're in to the £7k bracket on the loan, I remember getting excited about being below £10k so this is a pretty big deal and only 14 payments left to go on the longest standing debt we've had.

I was also shocked to notice that my phone contract ends at the end of March, normally I would have paid more than £100 to upgrade to the latest phone early. I haven't even considered that this time, I'm kind of ok with the phone I've got so that could be some progress too.

Got a cheeky tax rebate too, less than £20 but still money that's better off in my hand than the tax man's...I'm thinking I'll pay this off the card too as every little helps it would seem.

Well done! Every little bit certainly does help, it really makes a dent