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Debt free by Christmas...!
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Posts: 3 Newbie
Hi Everyone,
I have been reading lots of DFD over the bank holiday weekend & I think this could be the motivation I need to get all debts cleared/all payment plans finished by the last payday before christmas.... so debt free by 1st December.
I spend too much on tat, takeaways and general rubbish! The debts are crap too which makes it worse - I wouldn't mind if it was something worthwhile like a car or holiday!
This year so far we have cleared about 2k worth of debt, and outstanding we have:
Debt Collector (Old House Water Bill): £245.27 (£49.55/pm Until 1st Oct)
Barclays (Old Account Overdraft): £149.00
Vanquis CC: £256.00 (£50/pm Until Cleared - but do pay off here & there)
Capital One CC: £358.97 (£50/pm Until Cleared - but do pay off here & there)
Moorcroft (BF Old Phone Bill): £550.00 (On BF list to call today and double check what is outstanding...)
Satsuma Loan
£823.20 (Very old & in arrears - just upped the monthly DD to £117.57/pm meaning last payment will be 1/12/2020)
Rossendales (Council Tax): £267.40 (£66.85 pm will end this debt by August)
So about £2,600 to be debt free!! After burying our heads in the sand and wrecking credit files in the process I now want to get this cleared!
The kicker is I am currently on MAT leave (returning to work in Aug) & my partner is on 90% wages as reduced hours due to Covid...! So not much progress to be made until then, & will have £600 rough nursery fees PM once I return.
Any advice? I need to meal plan more carefully, should I give ourselves personal spending money, what percentage of wages should I try to save, how can I apply for tax free child care?
The next big thing.... we are slowly building our credit back up and want to buy a house... we are lucky to be renting from a family member so we pay fairly low rent, but its a horrible flat with no garden and no fun for our DD who is nearly 1. Plus it is 1st floor and its bloody hard work carrying a baby up and down everyday as well as everything else! We are looking at shared ownership, and are hoping to save £800 a month once back at work but I say this all the time.... and we currently have a grand total of £700 in savings....
Anyone want to join me? Or nag me!
I have been reading lots of DFD over the bank holiday weekend & I think this could be the motivation I need to get all debts cleared/all payment plans finished by the last payday before christmas.... so debt free by 1st December.
I spend too much on tat, takeaways and general rubbish! The debts are crap too which makes it worse - I wouldn't mind if it was something worthwhile like a car or holiday!
This year so far we have cleared about 2k worth of debt, and outstanding we have:
Debt Collector (Old House Water Bill): £245.27 (£49.55/pm Until 1st Oct)
Barclays (Old Account Overdraft): £149.00
Vanquis CC: £256.00 (£50/pm Until Cleared - but do pay off here & there)
Capital One CC: £358.97 (£50/pm Until Cleared - but do pay off here & there)
Moorcroft (BF Old Phone Bill): £550.00 (On BF list to call today and double check what is outstanding...)
Satsuma Loan
£823.20 (Very old & in arrears - just upped the monthly DD to £117.57/pm meaning last payment will be 1/12/2020)Rossendales (Council Tax): £267.40 (£66.85 pm will end this debt by August)
So about £2,600 to be debt free!! After burying our heads in the sand and wrecking credit files in the process I now want to get this cleared!
The kicker is I am currently on MAT leave (returning to work in Aug) & my partner is on 90% wages as reduced hours due to Covid...! So not much progress to be made until then, & will have £600 rough nursery fees PM once I return.
Any advice? I need to meal plan more carefully, should I give ourselves personal spending money, what percentage of wages should I try to save, how can I apply for tax free child care?
The next big thing.... we are slowly building our credit back up and want to buy a house... we are lucky to be renting from a family member so we pay fairly low rent, but its a horrible flat with no garden and no fun for our DD who is nearly 1. Plus it is 1st floor and its bloody hard work carrying a baby up and down everyday as well as everything else! We are looking at shared ownership, and are hoping to save £800 a month once back at work but I say this all the time.... and we currently have a grand total of £700 in savings....
Anyone want to join me? Or nag me!
0
Comments
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It would be a good idea to post your SOA then others will be able to help you see where you could cut back using this link https://www.lemonfool.co.uk/financecalculators/soa.php
and format for MSE to post here.
Good luck with clearing this by Christmas. Certainly looks doable as not a huge amount to clear.
0
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