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Thanks Dan. It is sort of managing the panic really. I used some of the little pots of cash-based savings to pay down some of the highest interest things and then really pushed us to pay off the 0% things when the period ends, rather than perpetually stopping from one 0% to another (and incurring the one-off fees).
I have been reading on the forums for a few years now but I am a bit of a slow learner. Our earnings are good and yet here we are, less than five years from the end of our working lives, with a liability in excess of £100k.
It was this, rather than unsecured debt that prompted me to try and get a grip. Some of the mortgage clearance achievements have been so inspirational and contain some top tips on these forum threads (and the mortgage free diaries) and I also follow lots of OldStyle Moneysaving threads too.
I don't think I was honest with myself when I started posting (years before this diary), rather arrogant and believing I had it in me to change - but you really do have to make changes, not just pay lip-service.
Much later than I stopped shopping I started to look at better deals on things, and taking a whole-life approach to purchases (e.g. a car that includes servicing in the purchase price reduces my monthly committed liabilities, allowing me to pay off the total loan that bit earlier).
I also try to stagger things - so a one-off VED for 6 months puts road tax at the other end of the year from motor insurance.
I had a quick flick through your diary too and I admire the way you are taking back control. If it is any help, when my husband and I first lived together his mortgage was £20k and our joint credit card, loans and overdrafts amounted to £80k. It took us just under four years to pay off the £80k but then we started buying bigger houses...
Save £12k in 2020 - #20 £7,085.43/£5k 141.7%
Save £12k in 2021 - #26 aiming for £7,500
OS Grocery Challenge 2021 target £0/£3k 0% annual (£500 contingency)
My Debt Free Diary Get a grip Woman
I have been an avid reader of MSE forums for about 10 years. Back then with a new baby and a new mortgage and not much income I focused on saving little bits here and there but now my thoughts are turning to retirement planning. It's very much a big deal and so scarily complicated!!
I'm subscribing to your diary and will follow with interest (even if I don't post very often):)
Oscar Wilde
Your last post really resonated with me, when you said you were rather arrogant and believed you could change, and not just pay lip-service. I am quite concerned that I haven't yet changed at all, my spending habits are exactly the same but somehow I am absolved because I am posting about it afterwards. :cool:
Anyway, keep posting please, it's very motivating
Mine often feels a bit rambly and self-indulgent but I will try and stay focussed.
Today's things (copied that idea from Paws!) - positives
1 Freezer dive for this week's meal plans
2 Top-up shopping for apples and some seasonal veg
3 Some of the clothes I ordered when I was feeling too flush are going back - admittedly because they make my chest look too "titty" but at least they are going back
4 Our Son's house has a working bathroom with a new bath and shower screen and replacement taps and tiles, after over a year of problems with it
Negatives
1. DH casually mentioned that we will have to pay for the bathroom works from our savings - ref our Son's slightly disastrous choices of housemates (see earlier in the diary)
2. More to come at DS's house as the boiler needs work too (next week) and no money in the pot for that either
3. Running late today due to an accident at a neighbour's
Ho hum, real life moments
Save £12k in 2020 - #20 £7,085.43/£5k 141.7%
Save £12k in 2021 - #26 aiming for £7,500
OS Grocery Challenge 2021 target £0/£3k 0% annual (£500 contingency)
My Debt Free Diary Get a grip Woman
[STRIKE]£7,644.81[/STRIKE] £8387.45 (aiming for £10,000) Emergency fund today -£1612.55
[STRIKE]£11,960.07[/STRIKE] £12073.67 S&S ISA with Fidelity International (original £10,000 4 years ago, no further capital added)
[STRIKE]£4,969.70[/STRIKE] £5022.49 DH's S&S ISA with Charles Stanley Direct
£3,108.33 2 year Bond with Skipton BS @ 4% (one year in)
£10,947.52 7 year bond with Skipton BS - matures Oct 20
[STRIKE]£38,630.43[/STRIKE]£39,539.46 Total actual savings
Shortfall [STRIKE]£71,990.57[/STRIKE] £66,960.54 (mortgage)
Save £12k in 2020 - #20 £7,085.43/£5k 141.7%
Save £12k in 2021 - #26 aiming for £7,500
OS Grocery Challenge 2021 target £0/£3k 0% annual (£500 contingency)
My Debt Free Diary Get a grip Woman
Negative things -
One more thing - I am a bit twitchy about post-Article 50 invocation impact on the pound (tourist exchange rates really) so I contacted one of the places we are going to in August and asked them to take a €500 deposit at today's exchange rate so I am sort of hedging my bets. Using my Halifax Clarity card it is £422 so over 1.17 to the pound :money:
Save £12k in 2020 - #20 £7,085.43/£5k 141.7%
Save £12k in 2021 - #26 aiming for £7,500
OS Grocery Challenge 2021 target £0/£3k 0% annual (£500 contingency)
My Debt Free Diary Get a grip Woman
Negative things :doh:
Save £12k in 2020 - #20 £7,085.43/£5k 141.7%
Save £12k in 2021 - #26 aiming for £7,500
OS Grocery Challenge 2021 target £0/£3k 0% annual (£500 contingency)
My Debt Free Diary Get a grip Woman
Save £12k in 2020 - #20 £7,085.43/£5k 141.7%
Save £12k in 2021 - #26 aiming for £7,500
OS Grocery Challenge 2021 target £0/£3k 0% annual (£500 contingency)
My Debt Free Diary Get a grip Woman
Debt neutral
Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
RYSAW17 £1900 2016 £2,535.16 2015 £1027.20