The man who likes stuff. Can I pay 7k this year?

MB148

My OH and I were chatting about money and how much we have been spending in the run up to Christmas (too much) and this is the first year where no credit cards, Overdrafts or Next accounts have been used which feels great.
Last couple of days I have ordered the Christmas meat from the butcher and bought the Christmas tree, as well as putting up the lights so feeling very Christmassy!
Also looking forward to the New Year where I am going to do some more calculations to be debt free within a year as my New Years resolution, that will mean paying off 12k in a year which would be amazing, I am going to hopefully make a £200 overpayment to the loan this month but waiting until the last minute to do that in case any else hits me financially.

Sarahwithlove

It's a great feeling not having to put Christmas on credit. I too am looking forward to the new year so a plan of action can be made. 

MB148

Sarahwithlove said:

It's a great feeling not having to put Christmas on credit. I too am looking forward to the new year so a plan of action can be made. 

Agreed! I never really used to do the whole thing on the CC, I would spend all my wages then start to feel that I hadn't done enough in the present department then forget about expenses like the tree and the huge food bill so would make sure I was contributing to these by using the CC, far more planned out this year. I'm sure we aren't going to be the only ones with a New Years plan of action, good luck with yours!

MB148

So its almost Christmas payday and I am going to manage a £300 loan overpayment which I am so happy about considering I was hoping to do £200, we had 3 internal doors put in upstairs in the house by my brother which is the start of us renovating the hallway/landing in the house, not sure of the total amount as of yet but will probably go half with the OH but have the savings to do this. I've only really bought myself some car washing supplies recently which I buy in bulk from Amazon to save money in the long run.
Stopped a motorbike with no front headlight in the hammering rain the other night and realised that I had dropped my nice torch which I have had for 7 years, after searching the car and my pockets I realised it may have dropped out of my pocket down the road when I had to get under the car to sort out the handbrake cable which was dragging on the floor, I was sick at the thought of spending money on a new torch so went back to look for it and found it sitting in a puddle exactly where I had stopped, I was so grateful, things like a decent torch are so important to my daily work its great to have it back and not have to spend any money getting a new one, an MSE win
EF stands at £1000, regular savings at £400 and the watch fund is at £1000 at the moment, debt totals to follow once payments have gone through. 
Looking forward to a clear out in the New Year, got some things to sell which is going towards the debts.

I hope anyone reading this has a safe and happy Christmas!

MB148

Back in December I made the £300 overpayment to the loan which along with the regular payment has brought me down to £7684 (including £23 interest) which is great, but if I can do this at Christmas then I can do better in the New Year surely?
6 days till payday and I am on track for a £500 overpayment to the loan and still making another contribution to the EF, I am very grateful to be able to do this but have been very strict on myself (made easier by lockdown)
The Halifax CC is almost paid off as well so the Tesco CC is next, I aiming to be debt free by the end of the year now (my date was originally 2023) and that is thanks to this forum getting me focused.
Current balances:
£664/£9000 - Halifax CC
£2638/£3000 - Tesco CC
Halifax personal loan: £7684/£16k
EF now at £1500

Choccygirl123

Well done MB any over payments made on December and January are amazing! Keep going, you've got this! I love the idea of a watch fund....I know my hubby has his eye on a very nice one when retires and joins civvie street.

MB148

Choccygirl123 said:

Well done MB any over payments made on December and January are amazing! Keep going, you've got this! I love the idea of a watch fund....I know my hubby has his eye on a very nice one when retires and joins civvie street.

Thanks alot! Luckily keeping the watch fund so separate I am using an old bank book for it and not counting it as 'savings' unless things go very wrong! Its a nice goal to aim for I think

Sarahwithlove

Well done that's some great overpayment amounts. I'm aiming for 500 a month savings/debt repayment a month myself. Its deffo easier to do in lockdown then normal time. 

MB148

Sarahwithlove said:

Well done that's some great overpayment amounts. I'm aiming for 500 a month savings/debt repayment a month myself. Its deffo easier to do in lockdown then normal time. 

Thanks alot Sarah, 500 a month between savings and overpayments is a great target, you are clearly making some great progress as well, not long till your CC's are all gone! (unless your sig is out of date like mine)

Sarahwithlove

MB148 said:

Sarahwithlove said:

Well done that's some great overpayment amounts. I'm aiming for 500 a month savings/debt repayment a month myself. Its deffo easier to do in lockdown then normal time. 

Thanks alot Sarah, 500 a month between savings and overpayments is a great target, you are clearly making some great progress as well, not long till your CC's are all gone! (unless your sig is out of date like mine)

No it's up to date thanks but I'm focusing on my sinking funds the next couple months to build them back up as they have taken a battering lately but should have the card gone by end of year easily.