Time to Face The Music

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  • A little update on our account balances:

    Credit Card 1: 0% £450 balance, £150pm payment 
    Credit Card 2: 29.9% £590 balance, £80pm payment 
    Car Finance HP:  £4438 balance £251pm last payment February 2022

    Debt 1 (old store card): £46.45 balance, £46.45 payment
    Credit Card 3: 29.9% £3590 balance, £200pm payment
    Credit Card 4: 0% £4660 balance, £100pm payment
    Credit Card 5: 0% £8018 balance, £150pm payment
    Furniture Loan: 0% £690 balance, £16pm payment
    While I had a little time to kill this morning I had a little think about our debt repayment plan and how it is going to pan out and set some aims and goals which are realistic and still leaving us able to enjoy our time without feeling that the debt repayments are a burden.

    So the plan is as follows:

    Step 1: Clear debt 1 =  October 2020
    Step 2: Clear Credit Card 1 = December 2020
    Step 3: Clear Credit Card 2 = February 2021
    Step 4: Remortgage house = March 2021 (No additional borrowing)
    Step 5: Clear Credit Card 3 = August 2021
    Step 6: Clear furniture loan = December 2021
    Step 7: Clear Car HP Finance = February 2022
    Step 8: Clear Credit Card 4 = June 2022
    Step 9: Clear Credit Card 5 = December 2022

    I'm sure there will be changes to this along the way and we do hope that we may be able to clear a couple of the debts before the target dates we have set which will be an extra moral boost.


  • alt80
    alt80 Posts: 4,152
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    Looks like a very doable plan. Like the idea of having a plan of which order to pay them in. Quite envious of your weekends too, they sound great. 


  • alt80 said:
    Looks like a very doable plan. Like the idea of having a plan of which order to pay them in. Quite envious of your weekends too, they sound great. 


    I like a plan and I like a challenge so setting little targets feels like a challenge and is something to aim for. 

    We do enjoy our weekends. You can do the same with your son and the cars. We used to love just going out for a drive before we got the boat.
  • The plan for today.

    It will be another no spend day. Breakfast, lunch and dinner will be from stores, the fridge and freezer. The other half has taken his packed lunch to work. Not sure what I'm having for lunch yet but I'm pretty sure I can rustle something up with what we have in.

    Today's jobs include:
    • Working from home
    • Walking the dog x 2
    • Bathing the dogs legs (not as bad as I imagined yesterday)
    • Cleaning the kitchen
    Not as busy a day today. My last Ebay battery auction is due to finish today. That is currently sat at £11.50 so again much more than we expected. We certainly will not be throwing batteries away again as we have in the past!

    I also need to start a bit of meal planning and route planning for our first few days away on the boat. Saturday will be a bit of an odd day as we will be sat around most of the day waiting for the tide which means it will be going dark by the time that we are able to get off the tidal river. Not ideal but needs must and with no facilities at our first couple of nights stops we will need to fend for ourselves on the food and drink front. Which will probably mean a couple of extra no spend days  :)
     
  • alt80
    alt80 Posts: 4,152
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    I think the targets are something I can consider after adjusting to the new budget. I like the idea of something to aim for. Yes I hope I can start to enjoy my weekends too. 

    Does your dog go on the boat?

  • It is a bit quiet at this time of the month regards paying down the debt balance. Just one more credit card payment to make on the 28th and that it is for this month. It is just how the timings of the payments has worked out.

    It will be another no spend day today. Breakfast, lunch and dinner will be from the fridge. The other half has taken his packed lunch to work, I think I will have some fish at lunchtime and then we have stuffed chicken for dinner tonight.

    Today's jobs are:
    • Working from home (after Boris's announcement yesterday it looks like this could be another six months!)
    • vacuuming the house
    • cleaning the bathrooms
    • load of washing (really hope the dryer works today as it looks set to rain all day!)
    • walking the dog x 2
    • bathing the dogs legs (the mites are gone now and his skin is starting to heal nicely and is becoming less red)

  • The debt repayment plan looks good.  Just over 2 years away maximum sounds great to get rid of it all. 

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  • The debt repayment plan looks good.  Just over 2 years away maximum sounds great to get rid of it all. 
    Fingers crossed it goes according to plan. 
  • Another grey rainy day in store for today. Thankfully yesterday the washer/dryer decided it was going to dry so not wet clothes strewn around the house!

    Another no spend day today. Breakfast, lunch and dinners will be from the fridge. The other half has taken his packed lunch to work and I will grab something from the cupboard. Dinner tonight is haggis with mashed root vegetables and greens.

    Today's jobs are:
    • Working from home
    • Walking the dog x 2
    • Dusting the house
    • Watering and pruning the house plants
    A quiet day today compared to some this week. Tomorrow will be busier.
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