Debt payment tracker

JamesO

This isn't a diary really but I need somewhere to write this stuff down all in one place so I can keep track and see it all together. Will probably just edit first post as needed. Advice welcome (esp if I'm missing something obvious)

Debts

Priority - Tesco credit card - £1,567.02 (interest rate something like 20%)

Priority - Also need £5k for ground rent in March each year (£416 per month) Inc this year (pay on tesco card?)

Barclay credit card - £3,859.63 (0% for 12 months - clear by Jan 2025. Currently set to min payment).

MBNA loan - £8,815.22 (Original loan amount £11k @ 6.59% £490.49 per month. Fully repaid by September 2025)

AA loan - £12,285 (?% less than 10. £372.29 per month. Fully repaid by September 2026) 

Fixed monthly 'min payments' (plus ground rent saving) about £1,548

Essencial Bills 
Mortgage £640 (rate fixed to Jan 2027)
CT £150 (not yet confirmed for next year)
Power £100 (credit of £280 on account)
Water £41.50 (next bill due next month. may recalculate payments but not by much?)
Internet/phone £20 (contract up November 2024)

Total £951.50 

Running total £2499.50

Income £2,826 per month after tax etc. 

£326.50 for food and other expenses? 

Current bank balance £798.75


(Only me. No car. Building insurance paid annually due in July (100?). netflix on annual due in May (100?) gamepass paid until Aug 2025)

JamesO

March 2024 update:

Debt

Tesco credit card - £1,067.02/6000
Barclay credit card - £3,859.63/4800

MBNA loan - £8,370.76 (18 months)

AA loan - £11,540.99 (30 months)
payments £962.78 per month total £24,838.4 

Bills 
Mortgage £640 (£96,786.15/197 months)
CT £189 (! that's gone up more than I expected/10 months)
Power £100 (credit of £211 on account)
Water £41.50 (next bill due anytime)
Internet/phone £20 (contract up November 2024)
payments £990.50 per month

Min monthly outgoings £1,953.28
Post tax income: £2,826.08
Difference: £872.80
Today's bank balance: £999.91

About £600 outstanding in expenses for work travel, but I keep recycling that cash for the next work trip - make second current account to ring fence?
 
Need to pay £4,707.10 for ground rent before end of month (pay on tesco card then pay down monthly and try to save for next year) 

[Deleted User]

That is an expensive ground rent!
The 2nd Current account for travel expenses in and out sounds a good idea.

JamesO

Belated April update. 

Debt 
Tesco credit card - paid off
Barclay credit card (0% Jan 2025. repayment about £150) - £3,425/£4,800
Lloyds Credit card (0% Oct 2025. repayment about £150) - £5,832.83/£7,000

MBNA loan - £10,490.34 (repayment £755.80 - 16/24 months)

AA loan - unknown as they make it difficult to get a balance, but about £11k still (29 months. repayment £372.29)

Payments £1428.09 per month total £31,288 - Gone up due to paying ground rent on Lloyds card (expected) 

Bills 
Mortgage £640 (£96,024/196 months)
CT £189 (10 months)
Power £100 (credit of £297 on account) 
Water £41.50 (next bill due August)
Internet/phone £20 (contract up November 2024)

Payments £990.50 per month

Min monthly outgoings £2,418
Post tax income: £2,883
Difference: £465
Today's bank balance: £450

£465 in the green is less than I'm comfortable with, but I needed to pay the ground rent and I wanted to clear the tesco card so I'm not paying the high rate of interest on it or the vanquis card anymore. Hopefully no big changes to expenditure now expected until the 0% on the Barclay card runs out. If I can put all or most of that £460 on the barclay card I think I can clear it in 6 months. Then would have around £600 to play with. 

Content insurance due for renewal in July (I go bare min for the mortgage so sub £100 normally)
Energy fix ends on 22 May. Should reduce rates but I'll keep the payment the same to build up credit for winter. 
Renewed netflix for another 12 months this month  
Ground rent £5k due March/April 2025 
Due about £3k in December from a private sale. 

[Deleted User] said:

That is an expensive ground rent!
The 2nd Current account for travel expenses in and out sounds a good idea.

I call it ground rent. I own the building with family so pay them a portion of what the rent would be on the open market plus pay a share of the maintenance costs. It's part of a personal arrangement that I'm not looking to change.

JamesO

June update

Debt
1. Barclay credit card - £3,355 (0% until Jan 2025. repayment about £150)
2. Lloyds Credit card - £5,991 (0% until Oct 2025. repayment about £150)
3. MBNA loan - £9,803 (repayment £755.80 - 15 months remaining/September 2025)
4. AA loan - £10,424.12 (repayment £372.29 - 27 months remaining/August 2026)
Total payments £1,428 per month. Total debt £29,573 

Bills
1. Mortgage £642 (£95,646/194 months)
2. CT £189 (10 months)
3. Power £100 (credit of £0 on account as just switched providers)
4. Water £41.50 (next bill due August)
5. Internet/phone £20 (contract up November 2024)
Payments £990.50 per month

Income: £2,883
Outgoings: £2,420
Bank balance £256 to go off Barclay card at end of month. 

Upcoming:  
House insurance due next month. 
Ground rent £5k due March/April 2025 
Due about £3k in December from a private sale. 

JamesO

July - early in the month but I think all automated payments have gone out so as good a time as any. 

Debt 
1. Barclay credit card - £3,237 (0% until Jan 2025. repayment about £150) 
2. Lloyds Credit card - £5,843 (0% until Oct 2025. repayment about £150) 
3. MBNA loan - £9,112 (repayment £755.80 - 14 months remaining/September 2025) 
4. AA loan - £10,000 (repayment £372.29 - 26 months remaining/August 2026) 
Total payments £1,428 per month. Total debt £28,192

Bills
1. Mortgage £642 (£95,259/193 months) 
2. CT £189 (10 months) 
3. Power £100 (credit of £146) 
4. Water £41.50 (next bill due August) 
5. Internet/phone £20 (contract up November 2024) 
Payments £990.50 per month

Income: £2,883
Outgoings: £2,420
Bank balance £450 to go off Barclay card at end of month. 

Upcoming:  
House insurance due this month. Quotes around £150 
Ground rent £5k due March/April 2025 
Due about £3k in December from a private sale. 

JamesO

Been a while since I've done an update. Time to take stock 

Debt 
1. MBNA credit card - £9,746 (21 months 0% interest)
2. MBNA loan - £7,011 (repayment £755.80 - 11 months remaining/September 2025) 
4. AA loan - £9,307 (repayment £372.29 - 21 months remaining/August 2026) 
Total payments £1,428 per month. Total debt £26,064 

Bills
1. Mortgage £642 (£94,107/187 months) 
2. CT £189 (10 months) 
3. Power £100 (credit of £254) 
4. Water £41.50 (next bill due February) 
5. Internet/phone £20 (contract up February 2025) 
Payments £990.50 per month

Income: £3,027 (I also changed my pension contributions so might be slightly higher next month - depending on the budget)
Outgoings: £2,420 (difference £607)
Bank balance £452 

Upcoming:  
House insurance due July
Deal on internet extended by a couple of months but might see if there's a Black Friday deal to lock in another 12 months
Ground rent £5k due March/April 2025 - paid £1000 when I had some cash available
Christmas food ordered and paid for (I cook for the family) 
Dishwasher is broken and looks like it's going to cost about £300 to fix - but cheaper than a new one and I've been missing having it. 

JamesO

November update. Things got a bit squeaky this month as I've had to pay for three nights in London for work and to fix the dishwasher. Should ease up now cards consolidated.  

Debt 
1. MBNA credit card - £9,746 (repayment £243 - 20 months remaining/July 2026)
2. MBNA loan - £6,301 (repayment £755 - 10 months remaining/September 2025) 
4. AA loan - £8,935 (repayment £372 - 21 months remaining/August 2026) 
Total payments £1,370 per month. Total debt £24,982

Bills
1. Mortgage £642 (£93,724/186 months) 
2. CT £189 (10 months) 
3. Power £100 (credit of £279) 
4. Water £41.50 (next bill due February) 
5. Internet/phone £20 (contract up February 2025) 
Payments £992.50 per month

Income: £2,883
Outgoings: £2,362.5 (difference £520.5)
Bank balance £36

Upcoming:  
House insurance due July
Deal on internet extended by a couple of months but might see if there's a Black Friday deal to lock in another 12 months
Ground rent £5k due March/April 2025 - paid £1000 when I had some cash available
Christmas food ordered and paid for (I cook for the family) 
£800 to claim back on T&S next month plus Christmas bonus c£800 after tax - both to go on ground rent. 

JamesO

Time for a 2025 update... 

Debts
1. MBNA credit card - £9,033 (repayment £231 - 16 months remaining @ 0%/July 2026)
2. MBNA loan 1 - £3,837 (repayment £490 - 8 months remaining/September 2025) 
3 MBNA loan 2 - £1,060 (repayment £265 - 4 months remaining/April 2025)
4. AA loan - £7,819 (repayment £372 - 18 months remaining/August 2026) 
5. Barclaycard - £419 (repayment £21 per month - 0% expired so need to pay and close)
6. Lloyds card - £696 (repayment £23 per month - 0% on purchases until Oct 2025)
Total debt payments £1,402 per month. 

* 7. 'Ground rent' - £4,000 per year due on 1 April. £2,700 in account ready to pay. 
Total debt £24,164

Bills
1. Mortgage £642 (£93,201/184 months) 
2. CT £ (Not due this month - over 10 months) 
3. Power £100 (credit of £208) 
4. Water £20 (next bill due August) 
5. Internet/phone £16 (contract up February 2026) 
Payments £778 per month

Income: £3,016
Outgoings: £2,180 (difference £836)
Bank balance £923

Upcoming:  
House insurance due July
Ground rent £5k due April 2025 - paid £1000 when I had some cash available so outstanding balance £4k
Need to buy dogfood - expect £120-200 (bulk online every few months) 
Need to get some tiles replaced/fixed on roof after storm (expect again about £100)

Priorities:
Ground rent. intend to put aside £500 from this month's pay (1 Feb), then £500 from 1 March, and £300 from 1 April (when I'll also have council tax to pay again). First year I've not had to get a loan/use credit card to pay it - small progress, but progress... 

Next would be paying off and closing barclaycard - can keep using Lloyds for online purchases and work travel 

Then MBNA 2 - should be able to pay off at least a month early, which then gives £250ish to start paying off MBNA credit card. According to my calculations, if I snowball my MBNA loan payments when the balances are clear I should be able to clear the balance in 15 months... if I don't then at least I can get it as low as possible before they start charging interest. 

Sarahwithlove

Can I ask about your arrangement with family I.e ground rent as you call it. Seems alot of money which you can't really afford at the moment. What is included in this as I notice you are paying for roof tiles. Are they contributing? 

Have you considered moving your council tax to 12 months so that you pay less each month and more you can put towards the debt. 

JamesO

Sarahwithlove said:

Can I ask about your arrangement with family I.e ground rent as you call it. Seems alot of money which you can't really afford at the moment. What is included in this as I notice you are paying for roof tiles. Are they contributing? 

Have you considered moving your council tax to 12 months so that you pay less each month and more you can put towards the debt. 

I get to live here. We didn't have the cash for a deposit so my brother 'gifted' me a six figure lump sum which meant we could get a decent interest rate, then I needed some more to pay off my ex when we split. The £5k a year is about half of what we'd get if we rented it out instead (less really as it was half the rent when we bought and rents have gone up massively) and the alternate is me having to rent somewhere so no cheaper. Our agreement is that I'm paying the mortgage and when it's paid off the house will be mine outright. Yes it's a mess, but like I said I'm not looking to change the arrangement and I appreciate my brother helping me out the way he has.  

I prefer council tax over 10 months because it gives me a bit of breathing room this time of year for one off costs like maintenance or whatever. I've managed to pull back on my spending over the last year so when some of the loans are paid back then I'll have more cash to put towards the bigger debts.

Big thing is not having to add £5k debt to the heap this year so while my total debt is basically the same as it was last feb I'm actually better off by £5k as I'm not adding a new credit card or loan in March to cover the ground rent. last year I was tredding water a bit but this year I should be making some actual decent progress.