A return to MSE with a DMP so I can be debt free

natlie

Oh no @pencakes26 you've inspired me to keep a duplicate of my budget sheet just in case!

Can I ask, what is your monthly DMP repayment? as I have really similar debt to you but my DFD is May 2024 

pencakes26

natlie said:

Oh no @pencakes26 you've inspired me to keep a duplicate of my budget sheet just in case!

Can I ask, what is your monthly DMP repayment? as I have really similar debt to you but my DFD is May 2024 

Such a nightmare! Create a duplicate and email yourself a copy too - just in case!! 
I'm paying around £580 a month to my DMP, but I'm trying to build up some extra funds to help me change my DFD from Nov 2022 to March 2022. My debt is also split between my DMP and a family loan so my DMP repayment would be higher if it was all there. It's a big task but I like something to aim for... 🤞

pencakes26

Oh and my payment will go up soon - I'm on a reduced amount because my salary has been reduced due to corona. 

pencakes26

The weather really is pretty rubbish today isn't it! I feel like it's gone to autumn already. Keeping my fingers cross for the apparently hot weather coming our way this week 🤞🤞
Found out that our pay cut has been extended for another month now, with no idea when it'll go back up. All we've been told is that it will be reviewed again at the end of August. Meanwhile, my DMP payments are due to go back to their original level in August. 🤦🏻‍♀️
The thing that really confuses/annoys me is that the business I work for is actually recruiting! I don't understand how they can do that whilst not paying their staff. It feels like they're taking advantage a little bit. My manager and another department has formally feedback about it being unfair and unreasonable so we'll see. 
Not my usual positive post today but definitely have a case of the Mondays! 

pencakes26

I'm not posting on here as often as I should as it always helps me when I do... Should try and keep it up! 
Well nothing much to report, another month of working from home and reduced salary but my DMP payment has returned to its normal level. Means money is tighter now but still manageable, especially as I am not paying for my commute. Apparently if we have to start going back into the office again, our salaries will return to normal but I have not heard anything officially so who knows? 
Anyway, one positive, the debt is going down and that's what matters 🤞

Mum2Nan

@pencakes26

Did you check your deleted items and the recyle bin?

I understand where you are comng from with working from home and and on a paycut and hope things pan out for you.  As you say, the debt is going down.  That is brilliant news.

M2N

pencakes26

Mum2Nan said:

@pencakes26

Did you check your deleted items and the recyle bin?

I understand where you are comng from with working from home and and on a paycut and hope things pan out for you.  As you say, the debt is going down.  That is brilliant news.

M2N

I did but I'd emptied everything intentionally - my computer was running out of space! Silly me! But I have a new sheet now and email it to myself as a back up too. Lesson learnt 
Pay cut is still in place, but I've hear from someone in HR department that we're about to go on a big recruitment drive for new staff..! I feel like we're being taken for a ride a bit now, surely if you can hire new people you can afford to pay your staff their normal pay? 

pencakes26

Just checking in. Nothing exciting to report, still working from home, still on a pay cut and still paying off my debts. I am grateful to still have a job - there's still some uncertainty around it, but I am grateful I have got this far despite everything. 

My DMP payments went back up to 100% so my 'spare' cash each month is even lower, but it's still manageable especially given the fact I am not commuting. I guess I could ask for another reduction on my payments but I'd rather not unless I really have to. 

I set myself the task of being debt free by March 2022 (that's when I turn 36). Given the current situation I'm not there yet, but have managed to shift my DFD from December 2022 to August 2022 so progress is happening 🤞Hopefully next year I can work at bringing that date down even further. 

pencakes26

Starting the week off with some good and bad ££ news but nothing I can't deal with. I've reached 45% of my total debt paid off so that's a nice feeling. Once my DMP payment clears, I'll also be sub £20k on my non-family related debts which I haven't been for maybe 6/7 years. Feels like a milestone. 

Unfortunately I have two chunky things I need to pay this month - my MOT and repair costs (long over due brake repairs that can't be ignored) and then the final payment on an overdue parking ticket that stupidly I forgot about for months so that will hurt. Luckily, I am still working from home so no commute costs, and I can use my savings to pay for it. It's frustrating to have to use savings, but for the first time I am not relying (or using!) credit cards or loans. I guess that means I am learning about money!  😬🤞

Sarahwithlove

That is what it's for. Hope the brakes don't cost too much. I had mine done recently and was £170 so not as bad as I thought. Fingers crossed for you