New Year, New me

bigbeff

Hi all, ticking along as usual. Been up to London for a weekend with my mum, spent a fortune, but nice to have a weekend away just us.

I think I have come up with my debt plan. I am going to hammer my loan next, it’s got a higher interest rate than my mortgage and interest is currently about £70 a month (mortgage interest is about £100 on much bigger amount and mortgage is fixed for another 18 months). If I hammer loan, I’d love to get it gone by my birthday in June next year… so in order to hit that aspirational target I’m going to need to pay £965 a month….maybe that is a bit much?! Aim high and see where we end up right?

goal 1: reduce loan to £6000 by 31st Dec
goal 2: reduce loan to £3000 by 31st March
goal 3: loan gone by 22nd June! 

I’m going to hit the ground running and have a little wardrobe sort out later. Getting on prolific and CC now for 20 mins….. I WILL do this! 

LittleMissDetermined

Hey lovely, glad things are going well  

Looks like we are going to debt free at the same time according to our plans so we can count down together! 
LMD x

bigbeff

@LittleMissDetermined yes! You can keep me on the straight and narrow 😂

LittleMissDetermined

bigbeff said:

@LittleMissDetermined yes! You can keep me on the straight and narrow 😂

I was hoping you'd do that for me!! 211 days to debt freedom!!

bigbeff

Morning all, 

Today's plan: gym 
Sort washing 
Washing up

Sort Dec invoices
Tutor (extra hour this week)
Write shopping list and do food shop

Plan lesson and teach this evening. 

What a fun filled day, but with extra hour tutoring and expenses for petrol (that I spent back in Sept) in my pay packet this month, I'm £100 up. So payday tmw will see that transferred straight to loan. 

enthusiasticsaver

Great idea to get rid of the loan. You have paid down a lot since January. Is it a plan to overpay the mortgage once the loan is gone? 

bigbeff

enthusiasticsaver said:

Great idea to get rid of the loan. You have paid down a lot since January. Is it a plan to overpay the mortgage once the loan is gone? 

Yes I think so...makes sense with the rising interest rates, but I might give myself a break then and have some fun! Or put in savings account and pay some off at renewal, I'm a little undecided! 

LittleMissDetermined

I think sometimes it depends on what amount you have available as disposable income. I intend to split mine so I can build some savings to have better holidays and experiences but also allocate a regular overpayment on the mortgage each month. I'd like to be able to overpay the mortgage by the total monthly interest (£300) as it annoys me seeing it go up each day  
LMD x

bigbeff

Well, I have been I’ll yet again. I just feel like it’s all the time and it’s really getting to me. I’m not myself, always tired and I haven’t been enjoying life. Picked up atrocious cough with it this time so did covid test. Sat here positive 😔. We were due to go to France for weekend, I’m gutted and seeing if i can rearrange flights without too much cost. Luckily we were staying with family so no hotels to cancel/lose on. But feeling so fed up. I really felt like a break might have helped me recuperate after such a rough half term of illness. I am starting to wonder if I’ll ever be well again! 

LittleMissDetermined

Ah bless you! Covid really does take it out of you so you have my sympathy!  Make sure you get plenty of rest and fluids lovely x