My accountability Diary for £42k!!!!

KellyAS

Merry Christmas one and all.

£300 left from November pay so gone towards MBNA card.

Lemon_Tree

Merry Christmas, well done

clearmydebts

So sorry to hear about your Grandad.

dawnybabes

Sorry to hear about your grandad,

KellyAS

Thank you all for your condolences.

Quick update but we have just gone under the £40k mark! Today's outstanding debt is £39,834.80!! That means Barclaycard 1 is now also under £9k and we have £1000 in the emergency fund!

I know it's still a lot but to get under that benchmark and have savings too by when I wanted to makes me so happy!

Next target is to pay off or save £5525k by June so we can pay off the kitchen without a loan.

Monthly standard payments are £517 so that's £2585 paid off so need an extra £2940 which is £588 a month. I think we might struggle with that especially as I now have no maternity pay so have to work as much as I can around Mr K's shifts and the kids but we will try. I am now getting new 0% offers on my existing cards so can use those if I have to but obviously will have fees to add on so I don't really want to if we don't have to.

I would really like to end this year under £30k.

KellyAS

Well it's been a while! I haven't updated because things were just plodding along then the virus happened! So hubby has been furloughed til October, had a mortgage holiday for 3 months which is roughly the amount we are down each month so we have been coping with just a little added to the credit cards but I've managed to pay that off each month so not adding to overall debt, just means I can't pay it off the other cards. Food is now costing us more as all 4 of us are home 24/7!

The debts are still coming down, we are still under £40k. I've rewritten my plan so I have also now put the kitchen onto the credit cards (silly me didn't allow for a few days to transfer the funds so we've had to pay interest! lesson well and truly learnt) and I have started saving towards the money we owe my Mum this month in a separate account that we can't touch. Our emergency fund is now only £60 because our shower leaked at the beginning of lockdown so we needed to get the other bathroom fit for use and replace the shower tray etc upstairs.
Debts now:

MBNA	7101.50
Amazon	6454.59
Santander	1237.52
Creation Loans	1320.52
Barclaycard 2	2635.75
Barclaycard 1	7867.31
Mum	12900
	39517.19

KellyAS

Also forgot to add that I am saving monthly for the following:
car insurances
house insurance (renewed in April & paid for without credit)
car tax & MOT's
gifts
and I round up all my payments and save the spare pennies in the account we pay all our bills from, in case we have any bills slightly higher at any time it means there's a little extra in there to cover them.

Still need to put money aside for clothing but that will have to be at a later date, or from when my earnings pick up. I have earnt some money through top cash back (nearly £260!) so got £62 as cash which I have put towards CC debt then got about £40 in supermarket vouchers, coupled with a voucher for money off clothing I will get this years school uniform and shoes from the supermarket. Still waiting for the rest of the cashback payout.

Goal for this month is to pay £600 off the debt. £200 done so far, the rest should now be covered by my standard payments. I have set all payments to minimum DD and am using the debt snowball method to clear them. First is the MBNA which has one 0% balance at £577.50 with the offer ending on 01/12/20. Luckily they put all payments to this amount first because the offer is finishing first. I should be able to clear that by October, the remaining £6k on that card is 0% til Aug next year so I'll just do the minimum for that and move onto the Amazon card which has £772.43 at 0% til 21/12/20. That should then be cleared by Nov leaving £5k on there, again they attribute all payments to the debt finishing first.

By the end of the year we should be under the £35k mark.

KellyAS

Another £63.52 to Creation today and £60 to Amazon

KellyAS

Today I got 4 pairs of school trousers, 2 polo shirts and 2 pairs of shorts plus some shorts for my nephews birthday on Sunday. Came to £34.50 but I had a voucher for £6 off any spends over £30 which made it £28.50 then I also had a £49 voucher from top cashback so school uniform hasn't actually cost me anything. I overspent on the food budget though, mainly because lots of things that we regularly have were on offer so I thought I would stock up while I had the voucher as it saves me money in the long run.

Need to get the dog a new collar. Mini me 2 is also starting to walk a bit now so need to budget for some shoes for him in the next couple of months.

KellyAS

Ordered dogs new collar and tag today £32.50. Big dog big bills!
Also got bits to finish off our bathroom finally - new flooring, skirting board & beading, mirror - plus grass seed cos our lawn is terrible, varnish for our lovely oak doors which are getting ruined with dog slobber and kids fingerprints and paint to cover the ceiling stain from our water leak. Total spend £128.
Laid the floor (only vinyl planks so cheap and easy at £22)
Also went to post office to send an order I had for work.