The 46 weeks debt free challenge

Philliggi

Thats why i like these diaries. Feel like im.amongst my own and people get me 😁. (Not often i can say that)

Thanks for the words of support

Philliggi

Not been a great week so far for various reasons. Couple of things away from money have put me on a downer and ill be honest im finding things tough at the moment. 

My success with the debt plan has come to a grinding halt until payday on Thursday. This has been my one hope for optimism and im desperate for payday to come so i can get nearly £1000 paid off the loan. 

Philliggi

Payday today. Decided not to get giddy  and pay massive amounts off leaving me short. Instead ive just paid the £45 weekly target and the £500 from the mortgage overpayment holiday im taking. This still gets me a digit lower and my debt  now starts with a 6 not a 7. 

The big 4-0 tommorro and taking the girls away for the weekend. Desperately need a break so hoping they behave and give us some respite.

Decided to switch to huel energy drinks for a month. Still full of caffeine but also loaded with plenty of health benefits. Ill switch to the caffeine free after a month and wean myself off them that way rather than go cold turkey. I have a plan tho and thats the main thing. Also gunna switch to homemade dinners from monay save a few pennies that way.

40. Time to grow up and lose the beer belly

Philliggi

Away at the minute and not.goimg to be able to update this tommorro so its an early weigh in this week. 

Its a satisfying one this week. Another 500+ off the debt, mainly due to redirecting the mortgage money we should pay, but ive diverted that to the debt having used the borrow back feature from my overpayments. 

The remaining 50 quid or so is my weekly target of £45. 

Spent an absolute fortune on the kids today in blackpool. All on tack, and a trip up the tower which saw me with 2 girls hanging off me for half an hr for dear life after discovering they are both petrified of heights. Oops. 

enthusiasticsaver

Well done on getting the debt to start with a 6. I hope you had a nice birthday. 

Philliggi

So im not getting very far with earning extra money. I play the earn to play games and do the survey sites but it literally brings in peanute for hrs work. Need to reevaluate income streams and redirect my time.to something more productive. Feeling a deep dive into the mse forums and guides on this one. 

Off work with the kids all week this week. They have a weird extra week off school compared to all the other local scbools which is annoying. Means i have to take a wekk off with them but we cant put it to any real good use cos the wife is back in work at her school, so got my super dad costume on trying to entertain 2 hyperactive girls. 

birdsfoottrefoil

Well done on getting the debt down. Hopefully they’ll be some nice weather for you this week for the extra bit of half term. Had my nephews last week, took them to an outdoor pool and it was overcast and rainy 😬

Philliggi

Kids do so much better when they are outside dont they? Ive discovered the macadam app, which is basically a paid to walk app but their is a feature on there a little like pokamon go where you walk to each virtual tag on the map and the kids love it. Treat it like a treasure hunt. Its basic, but its got them walking 3 or 4 miles a day and gets them out. Win win.

As for the debt, i like to compare my actual monthly repayments to what it would be now if i still went the full term of the loan.

So my agreed monthly payment is £298 or thereabouts, but after making considerable overpayments, i would only need to pay back £181.02 to still pay off my loan over the agreed timeframe. I enjoyed getting this figure to less than £200. Im now working towards that £150 mark and it cant come soon enough

Philliggi

Morning everyone, and welcome to week 42. Been a different week this week, had to spend some money entertaining the girls. We had a trip to puttstars as a treat but also managed quite a few no spend days as well. Not buying my dinner for work and saving on the fuel im probably up for the week but cant be bothered to work it out to the penny. 

My minimum payment for the loan came out this week of £298, and ive also made my additional payment of £45.50, as well as a couple of quid in there from a paid game, so its ticking along nicely. Now down to a figure of £6395.08.

Ive got the nationwide £100 payment coming across next week at some point and if i can keep up the £45 additional payments i shouldnt be too far off getting below £6000 before the end of the month. Happy with that. 

Philliggi

Im a man on a mission this week. The debt payment has stalled due to payday being a simple speck on the horizon, so ive refocused my energies to other money matters. 

Been  looking into my pensions and realised they are all over the show. I set up a pension bee around 2 years ago with 2 pensions merged, totalling around £8500. Thats now grown to around £11,500. A 27% return which im actually quite impressed with.

Howevervits got me thinking, what about all my other employment.

Until getting my hgv license my employment history hs been quite nomadic, never really staying anywhere longer than 3 years.

Ive worked in mcdonalds, tesco, a plumbing warehouse, petrol station, hotel and even a day as a door to door salesman beforevrealising im not a con man and convincing pensioners to part with £17 a month was pushing my morals too far.

Anyway, this has basically left me with 10+ lost pension pots, and im now on a mission to find them.

Ive set about moving one over from creative, that was quite easy, and ive set the ball rolling with the tesco one, which should be quite substantial after 7 years service part time andfull time, over 2 different stints, but the others im looking for blind. Some of them i probably havent even got one with, they go back to 2000 when i started employment, but i want to double check just in case. Although i cant imagine me flipping burgers and getting £45 a week part time back then amounts to much even if there is one 😆. However it feels good to be productive. 

Still not had the nationwide payment.

Watch this space

Watch this space