Twelve Weeks to Pay 1K!!

frazzmunch

Thank you for indulging me by reading this...!!!!!!

Late last year, I had my LBM. I was 24hrs away from bankruptcy in Oct 07 and was fortunate enough to get a job which managed to get me out of the immediate danger of losing my house, but spluttered on until Dec until I finally realised that this wouldn't go away...I had to do something. :eek:
I have a mortgage of 80k and credit debts of 74k, most of which (other than 3k) I have negotiated with the creditors and managed a 0% reduced payment agreement.

I worked out it would probably take the next 20 years to pay it all off if I lived like a pauper! :mad:

I'll be honest, my motivation to do anything about it seemed to fade as soon as I realised the enormity of my situation. I felt that I couldn't face living like this for almost all of the rest of my working life..So, since my LBM in Dec, I have devised a budget which I can work with without feeling deprived, worked out menu plans and tweaked it all until I finally feel I have something concrete to work with. More recently, I have looked again at how to pay off my debts in the shortest possible time and decided that posting my own daily reminder of how I am doing will help....:rotfl:

so I intend to do this twelve week challenge where every day I will post how much I have spent, what I have eaten (recipes will be included!)and how much I have saved towards paying off 1K of my debt. :A

My intention is to pay off the 3K interest accruing debts by the beginning of December this year, change my mortgage to a flexible one in April 09 and then making as many lump sum & overpayments as possible until I am mortgage free. Then, all my cash goes towards full & final settlements on my 0% debts until my DFD...which I intend to see before I get too old to enjoy it!!!;)

So, for today...its a NSD:j and for tonights meal we are eating:

Black Turtle Beans with chilli & lime, wraps, salad, salsa and sour cream

Heat a little olive oil in a frying pan, saute an onion, some finely chopped chillis & a clove of garlic until soft, add cooked black turtle beans, some cumin powder and stir until heated. Squeeze in some lime juice and fresh coriander (or whatever herb you like) and stir to combine. Serve with salsa (skinned seeded tomatoes, red onions, coriander & lime juice), tortilla wraps, salad & sour cream

I also paid 164.29 off the 1k!! Woohoo!!!:T

Anyway, thanks for reading...hope you enjoy the trials and tribulations of a 12 week wannabe!!!

webitha

hi there and doesnt that sound delish yummy must try it

just to let you know that although i wont post much on your thread i will be reading everyday
have you posted an up to date SOA to see if we can tweak it and save you more?

Lozza001

:T Hmm!! Guess what I am having for tea tomorrow night.

Thanks for that recipe. I will be keeping an eye on how you do over your 12 weeks. I am sure it will inspire me - well I hope it will.

bubbles0169

hi good luck xx

OberonSH

Hey there love, don't be too despondent. The number's are shifting the right way. Ebay anything that isn't nailed down to give yourself a boost (and some space), get on those cashback sites - every little helps!!

I like the way you're breaking your debt down. Eating elephants - bit by bit. BTW what are black turtle beans?

dottyanne

little by little, sometimes its easier to negotiate repayments on the biggies and haggle for F & F's on the smaller ones - good luck!

frazzmunch

Thank you to everyone who has posted!!! It's good to know that I am not alone!!!

I will post an SOA over the next couple of days....thanks for the suggestion!

OberonSH - black turtle beans are very similar in size and shape as cannellini beans, but you can use any type of bean in the recipe...I just happen to have cooked black beans in the freezer!

I have been driving myself nuts with the financial situation I have been in over the past five years, I am hoping to keep myself sane with this challenge....actually, I am hoping that I will finally find out what sanity is!!

BTW FYI household consists of self, DH (we both work full time) DS (almost 20...I feel so old!! works split shifts as a chef...eats at home breakfasts all week..sometimes several a day!!...evening meal only 2 x per week on days off), DD (almost 17...has boyfriend over to stay several nights per week and she stays at his house the others!!!) and two incredibly gorgeous, massively destructive ten month old greyhound puppies!!!

The dogs are expensive...i could spend a lot less on their food ( I currently buy hills science plan at £40-£48 per 15kg and I use two a month :eek: ) but until they have stopped their main growing phase (18 months old I have been informed) I am keeping them on the best there is (so I have also been informed!!!)

I have recently applied to switch electricity supplier but the savings I make there are going to be eaten up by the massive hike in oil prices ( I have oil-fired central heating and hot water.....there is no mains gas where I live)...I have been paying a lot for my electric anyway as I had a debt to pay following a complete mess made by my electricity supplier ( taking only £1 per month dd!) ....despite the mess, I have managed to clear a massive amount of the original debt (about £800 at its worst!!) and am just waiting for my final bill from them. I want to put at least £10 a month of the savings to debt repayment...every little helps!!

Anyway, sorry for the ramble, and thanks again for reading !!:rolleyes:

RAS

Hiya

Well done so far. Anything that would be useful at a car boot sale, on e-bay or amazon (assuming the puppies have not had it already)?

frazzmunch

I have started to sell books on amazon and I am spending the next 7 saturdays decluttering my house from loft to outhouse....after that, I am car-booting all the way!!! :rotfl:

The puppies keep going the way they are and I'll add them to my menu plan!!!

katyw

Just wanted to say Hi and good luck. Its great that you're facing it head on and its an ispiration for us newbies......especially the meal plans, tea sounds lovely.

x

lisabell

Hi
Your thread sounds really good,and will be reading it and catching up as often as i can.Want to wish you all the luck with your challenge and carry on with the tasty recipes.
Lisa