The Secret DFW Diary of Eamd Aged 13¾

embarrassed_about_my_debt

Hey P!!! Yea was good to see it go sub £11.5k Now paid off £4k since my Lightbulb moment!!

Just been enjoying time to myself after the manic period! Which was nice, the batteries feel recharged a bit now so feel alot better.

Hows things with you?

embarrassed_about_my_debt

Afternoon all!

Checked my online banking and bloody Abbey have taking the direct debit out even though my account is clear! So I had to get a couple of things for valentines day for my gf so i have put them on my Abbey card to bring it near as i can to zero (£0.28 in credit!) Probably end up getting charged a bit of interest next month though so will leave it and see.

Really impressed that i have paid off over 25% of my total debt since my light bulb moment! :j

Things are looking up and after my week off im begining to feel in control again, been tidying and sorting paper work at home. Calming down a bit aswell which always helps! :cool:

Got an appointment for a medical problem that is really holding me back both in my personal and work life. :j

Got plenty more stuff to go through and sort but im getting there! Didnt get round to listing the stuff on ebay that i wanted to in my week off so will try and sort them at the weekend.:rotfl:

Listed some stuff on amazon though although i havent sold any of it yet.:rolleyes:

Not sure what to do about my gym membership havent been for ages so in effect have wasted about £90 :eek: . Thinking about cancelling it and buying myself a new bike instead and doing that but cant decide.

Also cant decide what to do about my card order. My next target was my Mint card as it has a 0% Until november or i could go for the smaller Barclaycard so i can clear it and cut it up! I know the money saving thing to do would be to do the Mint card as when the interest kicks in on that one it will cost more but it would be nice to get rid of a card from my wallet!

Decisions Decisions

Now off for :coffee: and lunch!

evab_2

hi there, hope you're well.

Does the barclay card charge you interest, is it does I would clear that one then you'd have more to throw at the Mint card.

Well done with how much you've paid off already.

Ev

embarrassed_about_my_debt

Hi evab,

Barclaycard charges 6.9% from memory which is for the life of the balance. Mint will charge 12.9% once the 0% period has ended.

Barclaycard interest is approx £8.00 a month.

pania

hiya EAMD, how you doing? Juts posted a very long rambling post on me diary, was nice to get it out of my system... I'm fine thanks, just want to launch an amnesty on rude customer services staff... grrrrrr...

Ok re the bike.... will you use it, or will it be to wet to dry to hot to cold i'd only fall off anyway?;) What has caused your gym use to lapse and is there anything that would spur you into going regularly again? Have a think on these and see what would be the best thing to do.

Re the cards, how many months would it take to clear barclaycard?
If it would be well before november, i'd clear barclaycard but keep it somewhere safe, pay as much off Mint as poss before November then when the interest rate is about to kick in, balance transfer to barclaycard (as it has the lower interest rate) and then bobs your uncle, high interest avoided, excess interest on barclaycard avoided and 0% made the most of?

Joining you in that cuppa, glad tohear that you are feeling more relaxed and happier after your time off... big hugs from down the road. P

(ps if you are in the city about 4 join Hypno and i for a cuppa in costa coffee)

pania

PS, Hi ev!!!! how are you?

itsallaboutyou

EAMD - just read your thread from start to finish! You're doing fantastically well!! Keep it up!

Further to your post about mortgages etc etc, I'll let you know how much it costs me.. Its only a 2bed flat but is similarly priced.

My mortgage is £135,000 to which I put down £20,000 as a deposit.

Over 25 years, that works out at £627.22 per month fixed for 3 years.

Unless I've been duped - I think you'd be hard pushed to get a £140,000 mortgage for £440 - unless you're looking at interest only?? To be honest, I'm not entirely sure how that process works - but on a straight repayment mortgage you wouldnt be far wrong to work off £600ish!

As you're young, your life insurance wont be that expensive. I'm currently paying £6.65 pcm for decreasing life insurance cover - which simply pays of the mortgage should I die (touch wood!) which decreases over the time of the mortgage. I also have a life assurance policy, which is just over £7 a month which insures me for £75,000 incl critical life etc etc.

You'll find its a struggle to start with - I know I did - but you're a bit luckier than I was having a gf to move in with! 2 incomes is definitely a plus!

Anyway - keep up the good work!!

Tom

embarrassed_about_my_debt

hi P, no back at work so cant make a coffee, sorry!

The bike - Not sure, went to the forest up the road at the weekend with the gf and did about a 10 mile ride. Really enjoyed it and did do the biking round here for a bit last summer.

The Gym - Dont know really, just cant seem to get motivated and it seems like im wasting my money which could go on paying off debts.

Barclay card would take approx 4-5 months to clear. The 6.9% was a lob offer so dont think i'll get it again but do have my abbey sitting with 9.9% so can transfer there if need be.

Hi IAAY,

The £440 in my budget was for my half of the mortgage so with my Gf paying the other half that would be £880 a month total for the mortgage. All my expenditure that i put done was for my half if it was a household expense. Hope that makes sense now and does the workings out seem about right now?

itsallaboutyou

embarrassed_about_my_debt wrote: »

Hi IAAY,

The £440 in my budget was for my half of the mortgage so with my Gf paying the other half that would be £880 a month total for the mortgage. All my expenditure that i put done was for my half if it was a household expense. Hope that makes sense now and does the workings out seem about right now?

"D'oh" I've done a Home Simpson on you there... You're spot on! I think, unless anybody cares to correct that £880 sounds like a good idea!

I also know that few select companies are ignoring the whole income multiplier and looking at affordability - so if you can show that you can afford it between the two of you - you'll be in a great position! And the advent of your challenge means it'll happen sooner rather than later! :T

Tom

embarrassed_about_my_debt

Morning all! Hope everyone is ok this morning.

Still undecided about the gym vs. bike thing.

Got a £2 in my change today which is good! As it had stalled a bit with being off.

Got to get back into the swing of things with my spending diary as that has lapsed that last couple of weeks. Then i can get back into the weekly challenge.

With the house budget at least i know im on the right track then and all debts need to be cleared realistically.

Now off for a :coffee: