Debt free before August 2023

Poppy1984

Hi 👋 
The roof seems to be ongoing so I'm no further forward with that 😒 in other debt busting news I've got £20 shoppix pay out and almost £30 on prolific so that'll be £50 I can use to overpay my loan this month. Any other money I was planning to use to over pay my loan this month I'm going to transfer to my EF whilst I work out what's going on with my roof. Once that works been completed and paid for I may use any left over as overpayment or to be honest I might leave it in my EF as currently I leave it sat around £300 but after the shock of the quote for the roof I'm now thinking I should maybe have it as £500. 

I seem to be spending a lot more on food shopping during the lockdown period I think with everyone at home all the time it's meant we're eating a lot more at home. My gas and electricity bill have also increased with everyone being home. Frustrating that I've not really saved any money as I did very little socially that cost any money anyway. Whereas I've got friends saying they're saving £100's a month due to not going out etc. 

No other news really, I will update totals on the 16th/17th 

Sarahwithlove

You may find that once their gas and electric bills have adjusted for the overusage during this period that they too haven't saved as much as they would like. It's also important to remember that we all are different and have different ways of coping through this period. I too have found that my food bill has increased but I am choosing to have nicer meals and more fruit around to snack on which all costs more. Try not to compare your financial journey to others just focus on what you are doing and how you can make savings and pay off debts yourself. It may be that they don't have debts to pay at the moment and therefore all the extra can go into their savings in which makes it seem more than it is when your spreading it across several categories. A little extra on food, a bit in your EF and a bit to over payment all adds up but you just don't see the effect as much due to it being spread out. 

savingholmes

My food bill is majorly more. Time will tell on the utilities. We haven't saved masses as food soaked up a lot of our 'savings'.

Poppy1984

@Sarahwithlove yes this is true, comparing is no good but I think we are all guilty of it at times. 

@savingholmes glad it's not just me with the food bill, I think everyone being at home all the time it's like a 24 hour restaurant! 

Hi 👋 diary world 

thought I'd just pop on and update my totals, so roof repairs are still ongoing, not really sure exactly how much they are going to cost so I haven't made any overpayment on the loan this month. Instead I've put what I would have used to over pay into my EF. I was really lucky that when remortgaging to a better interest rate with a different provider it all completed on the 26th of the month my payment for the old provider was due to come out on the 1st of the month and my payment with the new provider wasn't due to come out till the 16th of the month so I effectively got a free month. So that payment that would have been for the mortgage i had planned to use to overpay my loan but I've also put into my EF for now until I know when the repairs are going to be made and how much they will cost. 

My new debt figure stands at £12,957 only just into the next thousand bracket. Hopefully still on target to have it down to £10,000 by the end of this year.

 My goal for the 14th August is to over pay my loan by £190 at least as that will knock a month off my DFD and bring it into 2022. Obviously it's all kind of up in the air and dependant on the roof repairs but I should know more about that in the next couple of weeks. I'm just conscious of keeping all spare money to one side until they are sorted and then I can go back to overpaying. 

That's all for now  

poppy

FootyFanDan

Hiya Poppy

Hope you are well. Great so see that debt figure still coming down nicely and loving the fact depsite the roof drama you have not let that discourage you! It defo looks like you have a solid plan going forward

Keep going x

Poppy1984

Hi @FootyFanDan 👋 
Thank you, roof drama is still not resolved, why is nothing straight forward?! However I feel better knowing the money is there for when it's needed. 

Still aiming to overpay by £190 to bring my dfd into the next year bracket but no real debt busting news. All direct debits and standing orders have left my account so just a case of trying not to sped too much before pay day. Haven't spent much other than for food shopping so far. Not a lot of other planned spends, so have a couple of family bdays this month and early next month so I will be buying cards and a smallish gift for those. 

I'm still hoping to be on track to get the debt to 10,000 by the end of this year but feels like it's slow progress atm 

Poppy  

savingholmes

Glad that the roof repairs are at least underway. Good that you are adding to your savings too. Things will sort. Have a good summer!

Poppy1984

Hi @savingholmes 👋 
yes on the way! Hopefully will all be sorted soon. Thank you, you too  

Poppy  

Poppy1984

Hi 👋 
The roof has finally been repaired, all paid for and much better price than originally thought. So crisis averted and my EF is still intact. I used my spare mortgage payment from moving mortgage and some shopping /spending money left overs to pay for it. All in all very relieved to have that sorted. 

In overpayment news I'm on track for overpaying by at least £190 this month which would take my dfd into 2022 December 2022. I've got about £14 in prolific, haven't decided whether to withdraw that and put against my loan or keep it in there and leave it building up for maybe a treat at Xmas. I guess it depends how the overpayments go. 

I need to do some food shopping, get a little bit of petrol and need a Small birthday Gift for a family member but apart from that no other planned spends before next pay day. 

The holiday for family members big bday has been rebooked for next year now so seems like it was the right decision to use the money I had saved to over pay my loan. I've already saved enough to pay the holiday in full but will need to continue saving for spending money present etc so will just keep that going until next year when we go in May, plenty of time. By then I should definitely have my debt under £10,000 which will feel good!! 

Poppy

welshspendthrift

Glad so pleased your roof costs weren’t as bad as you thought and EF is still intact. I’m going to do some work on my payments ready for payday tomorrow! No major spends this month and doing Prolific and Shoppix to help with extra funding!