Crunchy pays off the loan early, and other stories

remote_control

I did a masters with the student loan, it was all really easy to sort out and I would recommend. I have to do it every single evening, weekend etc. It is really hard work but worth it if you know you can do that. 

Seasidegal58

Nice to see you back crunchy. 

Re the breakfast cereals - Aldi's versions of shredded wheat bite size and Flavahan's porridge oats are way, way cheaper and you can't tell the difference!😀

crunchy_time

Good evening everybody!
In the spirit of updating more regularly to keep myself more accountable - here I am!
A few things to update on.
- Education - I have decided to wait until September 2021 to do my masters/further training.  I feel I need more time in my current role first.  Also, my work are funding me to do another course to further my learning that involves assignments so it would be better to do this as well as a few free courses and see how things go.  Lockdown/BLM has taught me to stop being so desperate and graspy about money so happy to stay in my current role for longer as its a good team and I am getting some good experience, even though I am being paid less than I am qualified for - at least I have a good job!
- Being overtaxed - still awaiting my P45 so currently owed about £600 at this point.  It would be nice to stop paying so much tax and then I just have to sort out the rebate but both HR places are being slow to respond.
- Painting the house is going to cost £1850 ish.  We are going to pay for it using the child care line in the budget we are not using at the moment and the extra money we have leftover which currently pays for house stuff - should take about 4-6 months.  I get paid on Friday so I shall save some money then.
- my seat covers need replacing and I can't find the colour I want anywhere without spending a fortune so I am going to make them myself!  Will do a cost-saving analysis once I have found the right fabric.
- I'm enjoying being more frugal and making the most of what we have during these tricky times.  I am definitely being more balanced and taking my time with things.
- Books - I have bought so many books recently I need to give myself a break so that I can catch up!  Will report back on this!

Payday on Friday and being paid slightly more than I normally would for some reason so that will go into the house painting pot.
It's nice to come on here and write everything down.  We are determined to smash this loan.  At the moment it seems so big but I know from experience to just chip away slowly and it will soon go down!!  I'd like to pay it off in 3 years so two years early.  If we put our minds to it we can.  In fact - our broadband bill was £12 less than expected this month for some reason - going to slush that towards it now.  Unexpected money is the way forward in this battle.
Right - I think I had better go and read one of my books!
Crunchy xx

savingholmes

You will get there. The house plans sound positive. Hope you get a tax refund soon.

crunchy_time

Morning all
I found some seat pads in Morrisons this morning which were only £6 each and will save me some time making them.  I only bought 4 so I will need to make 2 more using the old pads but £24 is much better than the £39 that I found for 6 online!

I also went onto music magpie last night and to sell some books that I don't want anymore - £13!  They are already in the box - I just need to print off the label.  That will take me up to £300 extra paid off the loan when it comes in.  
In the spirit of unexpected money, I am going to slush the money I would have spent on seat pads towards the loan tomorrow when I get paid, as I honestly would have bought the ones online.  What stopped me was that they had sold out which gave me a chance to rethink my purchase plans.
Another £15 towards the loan!  I've nearly shaved off a month now - our monthly payment is £356.
We have £100 left in the food budget for another week before husband gets paid next week.  I don't think there will be any change from it but we will see.  There is about £15 in the rounded up on Monzo which I plan to slush as well.
Unexpected money seems to be easy to find at the moment - let's see how this lasts.
Crunchy xx

ohdearhowdidthathappen

There does seem to be more spare money around at the moment, I'm finding the same.  Glad you're enjoying the job and that you've settled on when to do the further training.  The seat pads sound like a bargain.
Much as the loan is big, at least it's all in one place and as you said, chipping away will make all the difference.  Already getting one month's payment together is great

crunchy_time

ohshithowdidthathappen said:

There does seem to be more spare money around at the moment, I'm finding the same.  Glad you're enjoying the job and that you've settled on when to do the further training.  The seat pads sound like a bargain.
Much as the loan is big, at least it's all in one place and as you said, chipping away will make all the difference.  Already getting one month's payment together is great

Yes, it's so much better when it is all in one place.  Although the credit cards we had before were all at 0%, it was tricky trying to decide on which one to focus on.  It's nice when one balance is the focus.

crunchy_time

Afternoon all!
Payday today so £50 in the savings pot and another £27 off the loan bringing the total amount paid off early to £314 - just another £52 to find for a whole month paid off early!!
Now to stick to the £100 budget for food for a week.  Then I can slush anything left over onto it as well.  on the 1st July the minimum payment will come out too so we will be in the £16xxx.
I'm printing off the label for the books tonight so I can post them tomorrow.
I have put £300 into a savings account to start off the house painting fund.
Husband is off out tonight to drink beers outside on a friends farm - socially distanced of course.
I'm taking the time to catch up with myself and perhaps do some planning for the rest of the year.  Now we sort of know what it is going to look like.
But for now back to the housework/work/homeschooling grind!
Crunchy xx

crunchy_time

Just realised we have paid off £1000 of the loan in 3 months!  Not bad going at all!
xx

Toni'sfriend

Just realised we have paid off £1000 of the loan in 3 months!  Not bad going at all!

Not bad? That's fantastic!!!!!!