Paying off £37065 unsecured debt by July 2027 while continuing to travel this amazing world

Nintud

MFWannabe said:

Was that the contracted payment for the loan? Or extra on top of the contracted? 

If extra you need to stick to paying your highest interest debts first which is Very, extra payments on this will make more of a difference 
Maybe redo your soa with all the debts included? 

It was the usual contracted payment. Paying off Very is my priority. Minimum payments to everything else.

Nintud

Up to date SOA inc. pay rises:

[font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

Household Information[/b]

Number of adults in household........... 1

Number of children in household......... 2

Number of cars owned.................... 1[b]

Monthly Income Details[/b]

Monthly income after tax................ 3770

Partners monthly income after tax....... 0

Benefits................................ 102

Other income............................ 216[b]

Total monthly income.................... 4088[/b][b]

Monthly Expense Details[/b]

Mortgage................................ 748

Secured/HP loan repayments.............. 427

Rent.................................... 0

Management charge (leasehold property).. 105

Council tax............................. 140

Electricity............................. 0

Gas..................................... 68

Oil..................................... 68

Water rates............................. 45

Telephone (land line)................... 0

Mobile phone............................ 78

TV Licence.............................. 15

Satellite/Cable TV...................... 5

Internet Services....................... 42

Groceries etc. ......................... 300

Clothing................................ 20

Petrol/diesel........................... 85

Road tax................................ 3

Car Insurance........................... 61

Car maintenance (including MOT)......... 25

Car parking............................. 5

Other travel............................ 0

Childcare/nursery....................... 0

Other child related expenses............ 150

Medical (prescriptions, dentist etc).... 20

Pet insurance/vet bills................. 20

Buildings insurance..................... 0

Contents insurance...................... 10

Life assurance ......................... 31

Other insurance......................... 22

Presents (birthday, christmas etc)...... 100

Haircuts................................ 10

Entertainment........................... 15

Holiday................................. 200

Emergency fund.......................... 50[b]

Total monthly expenses.................. 2868[/b]

[b]

Assets[/b]

Cash.................................... 65

House value (Gross)..................... 177000

Shares and bonds........................ 560

Car(s).................................. 7500

Other assets............................ 0[b]

Total Assets............................ 185125[/b]

[b]

Secured & HP Debts[/b]

Description....................Debt......Monthly...APR

Mortgage...................... 107500...(748)......4.25

Secured Debt.................. 4520.....(347)......11.5

Hire Purchase (HP) debt ...... 799......(80).......0[b]

Total secured & HP debts...... 112819....-.........-   [/b]

[b]Unsecured Debts[/b]

Description....................Debt......Monthly...APR

Very...........................497.......56........42.96

MBNA CC........................13950.....240.......23.76

Santander CC...................10300.....304.......21.66

Union & Pol subs...............24........0.........0

Santander OD...................2900......82........39.94

Nationwide CC..................100.......10........26.9[b]

Total unsecured debts..........27771.....692.......-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 4,088

Expenses (including HP & secured debts). 2,868

Available for debt repayments........... 1,220

Monthly UNsecured debt repayments....... 692[b]

Amount left after debt repayments....... 528[/b]

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 185,125

Total HP & Secured debt................. -112,819

Total Unsecured debt.................... -27,771[b]

Net Assets.............................. 44,535[/b]

[i]Created using the SOA calculator at www.LemonFool.co.uk.

Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]

stymied

You did say in your first post that you weren't including your overdrafts in the total. That was before the bank scuppered the reduced by £50 a month strategy but explains the difference in totals x

MFWannabe

Nintud said:

Up to date SOA inc. pay rises:

[font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

Household Information[/b]

Number of adults in household........... 1

Number of children in household......... 2

Number of cars owned.................... 1[b]

Monthly Income Details[/b]

Monthly income after tax................ 3770

Partners monthly income after tax....... 0

Benefits................................ 102

Other income............................ 216[b]

Total monthly income.................... 4088[/b][b]

Monthly Expense Details[/b]

Mortgage................................ 748

Secured/HP loan repayments.............. 427

Rent.................................... 0

Management charge (leasehold property).. 105

Council tax............................. 140

Electricity............................. 0

Gas..................................... 68

Oil..................................... 68

Water rates............................. 45

Telephone (land line)................... 0

Mobile phone............................ 78

TV Licence.............................. 15

Satellite/Cable TV...................... 5

Internet Services....................... 42

Groceries etc. ......................... 300

Clothing................................ 20

Petrol/diesel........................... 85

Road tax................................ 3

Car Insurance........................... 61

Car maintenance (including MOT)......... 25

Car parking............................. 5

Other travel............................ 0

Childcare/nursery....................... 0

Other child related expenses............ 150

Medical (prescriptions, dentist etc).... 20

Pet insurance/vet bills................. 20

Buildings insurance..................... 0

Contents insurance...................... 10

Life assurance ......................... 31

Other insurance......................... 22

Presents (birthday, christmas etc)...... 100

Haircuts................................ 10

Entertainment........................... 15

Holiday................................. 200

Emergency fund.......................... 50[b]

Total monthly expenses.................. 2868[/b]

[b]

Assets[/b]

Cash.................................... 65

House value (Gross)..................... 177000

Shares and bonds........................ 560

Car(s).................................. 7500

Other assets............................ 0[b]

Total Assets............................ 185125[/b]

[b]

Secured & HP Debts[/b]

Description....................Debt......Monthly...APR

Mortgage...................... 107500...(748)......4.25

Secured Debt.................. 4520.....(347)......11.5

Hire Purchase (HP) debt ...... 799......(80).......0[b]

Total secured & HP debts...... 112819....-.........-   [/b]

[b]Unsecured Debts[/b]

Description....................Debt......Monthly...APR

Very...........................497.......56........42.96

MBNA CC........................13950.....240.......23.76

Santander CC...................10300.....304.......21.66

Union & Pol subs...............24........0.........0

Santander OD...................2900......82........39.94

Nationwide CC..................100.......10........26.9[b]

Total unsecured debts..........27771.....692.......-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 4,088

Expenses (including HP & secured debts). 2,868

Available for debt repayments........... 1,220

Monthly UNsecured debt repayments....... 692[b]

Amount left after debt repayments....... 528[/b]

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 185,125

Total HP & Secured debt................. -112,819

Total Unsecured debt.................... -27,771[b]

Net Assets.............................. 44,535[/b]

[i]Created using the SOA calculator at www.LemonFool.co.uk.

Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]

Morning 
I can’t see that the soa includes all your debts? These ones listed above add up to £33k? Or am I missing something? 🤔

Nintud

[font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

Household Information[/b]

Number of adults in household........... 1

Number of children in household......... 2

Number of cars owned.................... 1[b]

Monthly Income Details[/b]

Monthly income after tax................ 3770

Partners monthly income after tax....... 0

Benefits................................ 102

Other income............................ 216[b]

Total monthly income.................... 4088[/b][b]

Monthly Expense Details[/b]

Mortgage................................ 748

Secured/HP loan repayments.............. 687

Rent.................................... 0

Management charge (leasehold property).. 105

Council tax............................. 140

Electricity............................. 68

Gas..................................... 68

Oil..................................... 0

Water rates............................. 45

Telephone (land line)................... 0

Mobile phone............................ 78

TV Licence.............................. 15

Satellite/Cable TV...................... 5

Internet Services....................... 42

Groceries etc. ......................... 300

Clothing................................ 20

Petrol/diesel........................... 85

Road tax................................ 3

Car Insurance........................... 61

Car maintenance (including MOT)......... 25

Car parking............................. 5

Other travel............................ 0

Childcare/nursery....................... 0

Other child related expenses............ 150

Medical (prescriptions, dentist etc).... 20

Pet insurance/vet bills................. 20

Buildings insurance..................... 0

Contents insurance...................... 10

Life assurance ......................... 31

Other insurance......................... 22

Presents (birthday, christmas etc)...... 100

Haircuts................................ 10

Entertainment........................... 15

Holiday................................. 200

Emergency fund.......................... 50[b]

Total monthly expenses.................. 3128[/b]

[b]

Assets[/b]

Cash.................................... 65

House value (Gross)..................... 177000

Shares and bonds........................ 560

Car(s).................................. 7500

Other assets............................ 0[b]

Total Assets............................ 185125[/b]

[b]

Secured & HP Debts[/b]

Description....................Debt......Monthly...APR

Mortgage...................... 107500...(748)......4.25

Secured Debt.................. 4520.....(347)......11.5

Hire Purchase (HP) debt ...... 799......(80).......0<

Car loan.......................4864.....(260)......12[b]

Total secured & HP debts...... 117683....-.........-   [/b]

[b]Unsecured Debts[/b]

Description....................Debt......Monthly...APR

Very...........................497.......56........42.96

MBNA CC........................13950.....240.......23.76

Santander CC...................10300.....304.......21.66

Nationwide OD..................100.......5.........30

Nationwide CC..................460.......25........27

Santander OD...................2900......50........39[b]

Total unsecured debts..........28207.....680.......-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 4,088

Expenses (including HP & secured debts). 3,128

Available for debt repayments........... 960

Monthly UNsecured debt repayments....... 680[b]

Amount left after debt repayments....... 280[/b]

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 185,125

Total HP & Secured debt................. -117,683

Total Unsecured debt.................... -28,207[b]

Net Assets.............................. 39,235[/b]

[i]Created using the SOA calculator at www.LemonFool.co.uk.

Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]

Nintud

That’s the lot. I’d missed off a personal loan and my Nationwide CC and OD.

Total debt to repay (excluding mortgage) is £38,650.60

Two Vinted sales made this morning. I’m now waiting on £40.05 revenue, which will go to Very.  I’m about to upload five more items then I’m going out to post the things I sold this morning.

Need to tidy up my living room (again) and clean the carpet once the shampoo arrives from Amazon.  My bedroom is a nightmare of boxes and bags full of items to upload to Vinted. I struggled to climb into bed last night!  I’m very glad to be posting out two boxes today. Aim is to sell 2500 items in 2025. Clothes, books, toys, jigsaws, games, shoes, household bits must all go. Hopefully that will make enough to pay the Very debt and my Natiowide CC.

RelievedSheff

Well done on the Vinted sales. Every little really does help.

I must take a leaf our of your book next year and have a look around at what we have to sell that we no longer want/need. We have some boating gear that needs getting rid of and will bring a fair chunk of money in.

MFWannabe

Well done on Vinted listing and sales 
Sounds as though you have a lot more to list 😅

I need to restart my decluttering during the Christmas break; feel so much better when I achieve this 

Nintud

Another sale. Another £2.60 to Very 😁

Humdinger1

Well done @Nintud! Don't beat yourself up re having to add debts to your list.  The story of how I paid off 140k is in my diary; I didn't even dare add it up till it got down to 25k.  I know you're not following the traditional path on here of throwing everything at your debt but it's your journey and you are free to do it in the way that makes sense to you.  Love Humdinger xx