Sophie's Debt Free Adventure

hbl_2

sophie27 wrote: »

I know! I'm planning to get rid of Student Loan DD and up my Barclaycard payment. Its just I graduated five years ago and I am dying to get rid of it.

I was going to suggest canning the £100 DD on your student loan. If you're paying out £100 every month direct from your earnings, that should be enough. There is no point in paying it down any further than it comes out of your PAYE. It is annoying that the rate has jumped to 4.8%, but from what I've read, this is likely to go down again in September in line with inflation. (fingers crossed)

It's better to apply that £100 to a higher interest loan, and even once those loans are settled, to save and invest that £100 instead. It's my understanding that student loans are paid down with pre-tax £££ so in real terms it's just another income tax.

I'm saving and investing against mine, the idea being that I offset the loan with my savings, with the aim being to earn more than I am charged. At the end of the day I will have a lump sum which I can then use for xyz at an inflationary rate rather than 7-9% for a whole new loan.

I've managed to save about £2500 so far this year, which is ok, but want to save more!

sophie27

My last 100 DD payment has gone out and its being switched to Barclaycard. My loan is at a very good rate so I want to overpay the credit card as will have to pay to balance transfer the outstanding amount.

I was paid for some mystery shopping yesterday which I instantly moved to my credit card. Quidco has a payment of 43.33 scheduled for May which will be moved over too. Will check mystery shopping amount and amend my spreadsheets and signature! :j I'm so excited when extra money goes in!

My car loan might have come out today as 1st is Sunday so will check that in a bit.

WFH today so will definitely save me some money as no shops to be tempted by! Playing tennis later if weather is nice. Not the wii one, real tennis! :rotfl:

sophie27

Its really muggy here and threatening to rain so tennis may have to wait until tomorrow. I'm taking OHs ds to Crystal Palace Park to see the dinosaurs they have and indoor play centre and the toyshop so he can spend his holiday money.

As OH is useless with money, I have been paying his only credit card. Except they moved the date by a week and as I've been on holiday, its going to be 1-2 days late. I feel so awful, he's never been late with any type of payment and its my fault!

sophie27

Off to the post office with a massive pile of OH's ebay parcels. They are going to love me! I'm always tutted and sighed at as I always take at least ten parcels each time I go (normally around 3-4 times a week!!). The local post office says that I have prevented them from being closed down just with my parcels alone! Think they are just being nice!

Then we are off to the park and maybe tennis. Hopefully it will be a low spend day, maybe just an ice cream in park. Absolutely hate spending money now.

sophie27

Played tennis, neither of us any good though! :rolleyes: Went to park too which he enjoyed and was free! Although I went to marks to get some dinner, spent 5.88 on my dinner, OH's dinner for tomorrow as he is out tonight, smoothie dessert and a loaf. Normally I would have bought loads more but the desserts and OH's dinner was half price! :rolleyes:

Spent last couple of hours sorting out my paperwork as was in right mess but have to finish it off tomorrow. Piling a load of clothes on the sofa tonight ready for ebay frenzy tomorrow.

Angel11_2

Just to say fab diary, I've enjoyed reading your progress so far.

Keep it up

sophie27

Thank you! I'm on a ebay frenzy today. Didn't get up until 12!! :eek: Totally unheard of for me. Although did stay up quite late, got too comfy on the sofa to get off and up to bed.

I'm scouring every room for potential ebayness and later I am going to clean the carpets. Oh the excitement! :rolleyes:

sophie27

Hhhm I am listing my third item. Not much of a frenzy is it? Will keep doing it this evening.

Although I have signed up to some focus group websites as most of them seem to be in London and thought I might give a go. They pay between 30 and 75 an hour which is very good!! I might pop over to the up your income board in a bit to see if I can get some more info.

sophie27

OK I have done six! Pathetic I know! Going to do a few each night this week, have loads to list.

On the focus group front, I have signed up to five and asked to go on four in Central London in the next couple of weeks. They each pay 50 so 200 in total! Fingers and toes are crossed! Would be fab if got accepted. Wish had thought of this before. Also going to apply to more mystery shop companies. Need to get myself more motivated.

Yargo1

Hi Sophie, Had read the first few posts you did..and been off the moneysaving track myself for a while...so just caught up..

You sound like you are doing brilliantly! wish i could keep myself so motivated!

What mystery shops / companies are you using? pm me if you dont mind, i need to try my hand at this !

Thanks