Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Caspeia
    • By Caspeia 14th Jun 19, 1:19 PM
    • 151Posts
    • 170Thanks
    Caspeia
    81 weeks to debt freedom
    • #1
    • 14th Jun 19, 1:19 PM
    81 weeks to debt freedom 14th Jun 19 at 1:19 PM
    For a while I've struggled a lot with my mental health, I have gotten help for this and I now feel in a position where I can start to make my life a lot better. There are many areas of my life I have neglected and I want to get myself back on track. I have made a new diary as a fresh start.

    The highest our debt has been is 15955.83 which was in March. Currently we are at 14904.40!

    Our debt is made up of the following:
    Sofa 607.88 - 0% interest until its paid off. The last payment is in June 2020.
    Halifax CC 4051.59 - 0% interest until 12/01/20 then 19.45%
    Lloyds CC: 605.10 - 0% interest until 01/10/19 then 26.45%
    MBNA CC: 1236.52 - 0% interest until 09/08/20 then 27.93%
    Loan: 8403.31 - 11.9% interest

    Total: 14904.40

    The highest our debt has been at was 15955.83 so we've managed to reduce it a lot. My goal is to pay this off by 31/12/20. This gives us 81 weeks,

    We are discussing having a third baby, if we pay our debts off we'll start trying next year!
Page 1
    • Socajam
    • By Socajam 14th Jun 19, 1:58 PM
    • 377 Posts
    • 504 Thanks
    Socajam
    • #2
    • 14th Jun 19, 1:58 PM
    • #2
    • 14th Jun 19, 1:58 PM
    For a while I've struggled a lot with my mental health, I have gotten help for this and I now feel in a position where I can start to make my life a lot better. There are many areas of my life I have neglected and I want to get myself back on track. I have made a new diary as a fresh start.

    The highest our debt has been is 15955.83 which was in March. Currently we are at 14904.40!

    Our debt is made up of the following:
    Sofa 607.88 - 0% interest until its paid off. The last payment is in June 2020. - I would clear this now - First

    Halifax CC 4051.59 - 0% interest until 12/01/20 then 19.45% - put sofa, Lloyds and MBNA money - Fourth

    Lloyds CC: 605.10 - 0% interest until 01/10/19 then 26.45% - I would clear this - Second

    MBNA CC: 1236.52 - 0% interest until 09/08/20 then 27.93% - Put Sofa and Lloyds money on this - Third

    Loan: 8403.31 - 11.9% interest - Put all the money from those above and pay off loan

    Total: 14904.40

    The highest our debt has been at was 15955.83 so we've managed to reduce it a lot. My goal is to pay this off by 31/12/20. This gives us 81 weeks,

    We are discussing having a third baby, if we pay our debts off we'll start trying next year!
    Originally posted by Caspeia
    This is just my personal opinion, but getting rid of the smallest will give you a sense that you are slowly getting there.
    If you do not already have these, before even trying to bring another child into the world, pump money into a life happens and emergency fund.
    Also you need to sit down and create a budget, to see where other savings can be made and maybe have a baby fund
    Last edited by Socajam; 14-06-2019 at 2:00 PM.
    • Caspeia
    • By Caspeia 14th Jun 19, 2:17 PM
    • 151 Posts
    • 170 Thanks
    Caspeia
    • #3
    • 14th Jun 19, 2:17 PM
    • #3
    • 14th Jun 19, 2:17 PM
    I was planning on focusing on the loan first as its the only one thats currently has any interest being added, I hate looking at it to see that 90 has been added each month! Lloyds CC will be next, then halifax CC and then mbna. sofa will run its natural course until its completed.
    As I said baby will be next year, that will be after the debts are paid off. It's just nice to have something to look forward to!
    My debt isnt because we can't afford things, my debt is because I have terrible impulse control which is worse when my mental health isn't the best. I spend money like crazy at these times. Now I'm on sertaline, I can control my impulses a lot better. I'm a lot more stable!
    Going to make some smaller goals for myself soon
    • Caspeia
    • By Caspeia 15th Jun 19, 9:22 AM
    • 151 Posts
    • 170 Thanks
    Caspeia
    • #4
    • 15th Jun 19, 9:22 AM
    • #4
    • 15th Jun 19, 9:22 AM
    One habit I need to break is buying my food at work from the vending machines. I often forget to bring food so end up eating all my food from the vending machines which is expensive and also very unhealthy!
    Today I've brought myself some porridge for my first break. For second break I've brought leftover paella from last nights tea. I've left my purse in my car so its harder for me to just grab a chocolate bar if I'm tempted
    • Caspeia
    • By Caspeia 16th Jun 19, 1:58 PM
    • 151 Posts
    • 170 Thanks
    Caspeia
    • #5
    • 16th Jun 19, 1:58 PM
    • #5
    • 16th Jun 19, 1:58 PM
    Two days in a row I've brought my food to work, feel so much better for it aswell!
    I got an email from ebay giving me a 5 voucher, we use reusable nappies (just ebay cheapies) and I'd been eyeing up one of the new designs in the past few weeks. I've used the voucher so I have got a new nappy for 49p! Feel like I've spoiled myself without spending much! Sad life I have when buying nappies is exciting haha
    • Caspeia
    • By Caspeia 17th Jun 19, 9:50 AM
    • 151 Posts
    • 170 Thanks
    Caspeia
    • #6
    • 17th Jun 19, 9:50 AM
    • #6
    • 17th Jun 19, 9:50 AM
    I'm going to set myself some goals for this week.

    1. Go to the gym at least once, I really love to weightlift and managed to lose 2 stone going to the gym regularly (still very overweight right now!). When my mental health got worse I stopped going as I didn't want people to see me/speak to me, I've been discussing with my GP that I'm too anxious to walk back into the gym as I'm worried people will ask why I haven't been and she's challenged me to try and go back before my next appointment.
    2. Two NSDs
    3. Open up starling accounts for me and husband. I'm hoping having a joint spending account will help track money. We currently have a joint account where the bills come out, we then transfer money out as and when we need it into our personal accounts. This means we have a lot of money unaccounted for! I've already done my application, just need husband to do his.
    4. Move the cats insurance direct debits into the main bills account, this will mean all the bills are coming out the one account.
    5. No takeaways and no buying from vending machines this week!
    6. Book car in for service - I pay for a service plan and its due this month
    • Caspeia
    • By Caspeia 18th Jun 19, 9:13 AM
    • 151 Posts
    • 170 Thanks
    Caspeia
    • #7
    • 18th Jun 19, 9:13 AM
    • #7
    • 18th Jun 19, 9:13 AM
    So I managed to switch the direct debits over and the car is booked in for its service, couldnt get a time to suit until mid July!
    I've brought my own food to work again today, porridge with honey. This honey had been in my cupboard for a longtime! I will have a chicken wrap at home when I finish.
    Can't think what to have for tea, I have no clue what we have in but I'm determined today will be a NSD.
    I think there is some bolognese in the freezer so we'll possibly have that
    • Caspeia
    • By Caspeia 18th Jun 19, 7:15 PM
    • 151 Posts
    • 170 Thanks
    Caspeia
    • #8
    • 18th Jun 19, 7:15 PM
    • #8
    • 18th Jun 19, 7:15 PM
    Today has been a NSD! First day in a very long time. I was really craving something sweet and was about to go and get chocolate. I decided to make chocolate cupcakes - even if my flour was best before July 2017! I had everything I needed though, made way too much buttercream icing so a tub full of that is in the fridge. I'm not sure how long this will last in the fridge though.
    On my search for flour in the cupboard I discovered I have two open bags of oats and one completely unopened bag! I really need to use up the food we actually have, most of the stuff in the cupboard has been in there for a long time. Same with the freezer, I tend to buy food then realise I won't eat it in time so it gets chucked in the freezer.For tomorrow I've taken out some chicken from the freezer, I'm thinking to make a curry for tea tomorrow. I'm going to go for a second NSD in a row.
    We have 77 on my debit card and 14 in cash to last us until pay day on the 28th. I think this month we'll be left with money.

    We've also put 100 into a savings account for emergency savings, I want to get this to at least 500 as a minimum. Aiming closer to 1000.
    Back in March I opened a 'money box' account, I set it up to transfer 5 in a week and to round up the pennies from our bills, about 5 to 8 tends to go in a week. I liked how it wasn't connected to my bank accounts so I can't easily access the money. I've just checked it and there is 93.15 in there! There's also 8.70 as a pending investment so that will be over 100 in there as well. I'm wondering if I should put this up to 10 a week. I don't really have a plan for this money, I'm trying not to think about it too much and just let it build up so I do have some savings.

    So across my two savings accounts I have about 200.

    I'm having trouble setting up my starling account, they don't seem to like my proof of ID! I'm hoping it can be set up before payday so we can start using it from there.

    I also have to plan for our holiday that is in 17 days. We're staying in a caravan so planning on cooking most of our food when we are there.
    Last edited by Caspeia; 18-06-2019 at 7:25 PM.
    • Caspeia
    • By Caspeia 19th Jun 19, 1:57 PM
    • 151 Posts
    • 170 Thanks
    Caspeia
    • #9
    • 19th Jun 19, 1:57 PM
    • #9
    • 19th Jun 19, 1:57 PM
    I almost caved and spent money today. I finished work and really wanted a sausage supper from the chip shop as it would be quick and easy. I convinced myself not to, I ended up having a quick meal of spaghetti, peas, sweetcorn and cheese. 4.50 I would have spent but didnt!

    Also my starling account has been confirmed now, just need to wait for the husbands to be set up.

    My 49p resuable nappy came today aswell - so happy with it!
    • enthusiasticsaver
    • By enthusiasticsaver 19th Jun 19, 4:21 PM
    • 8,745 Posts
    • 20,275 Thanks
    enthusiasticsaver
    A great start on opening an emergency fund which is a definite must even if you go for 500 rather than 1000. I think the money box account is good too. You could use it for xmas or holiday fund or even a new baby fund to tide you over the maternity leave although personally I would get to grips with the debt first but it is whatever will motivate you to carry on. Also good you are being creative with the food you have in.


    How old is your youngest? Presumably you have childcare costs for him/her so having too small a gap may mean double childcare costs?


    You seem to have reduced the debt by around 1000k since March which is good so I guess you are paying around 350 a month towards the loan and cards combined? Unless you can up that though it will not clear by the end of next year. You would need to be paying closer to 800 a month to get it cleared.

    I can see why you are targeting the loan first as that is a relatively high interest rate. The Lloyds card deal expires in October and then goes to a much higher rate although the balance is not that high and I am guessing even minimums up to October will take it down to a level where you could clear it in one month by not overpaying your loan? Alternatively you could target that first and overpay that for the next few months then snowball the payment you were making on that to the loan. Read about debt snowballing on this forum.


    I would let the sofa payment run its course. It is 0% so no reason to clear that early. The Halifax is worrying because it is the highest and the deal expires next January which is just 6 months away.


    If you struggle with your mental health I would focus on getting rid of the debt and you have the feeling of being debt free and lots of spare money each month to look forward to.
    Early retired in December 2017

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • Caspeia
    • By Caspeia 19th Jun 19, 7:09 PM
    • 151 Posts
    • 170 Thanks
    Caspeia
    Thanks euathastic saver for coming ti my diary. childcare costs are about to get a lot cheaper for me as my youngest will move to the same nursery as my eldest in September. As off the 28th of this month I won't have any childcare to pay until the start of September. My plan is overpay all of the money we would have spent on childcare normally on debt instead. When they go back to nursery we'll be roughly 400 better off per month. Next year will be even better as oldest will be at school and youngest will get his preschool funding, reducing our childcare lots.

    I'm not too bothered about the credit cards right now as I've managed to jump them from 0% interest rate cards easily. I'm fairly confident I'll be able to transfer most of them to another card at the end of the period.
    I also feel incredibly guilty of the interest being generated on my loan. The loan was a purely selfish choice. My old car had been constantly breaking and I did need a new one but the day I bought my new car I hadn't been having a good day. My mental health was rock bottom and my car broke again, I said f*** it and drove to the nearest dealership and bought the car I liked the most. I managed to apply for the loan on my phone and within 30 minutes I had taken out a loan and bought the car. I didn't need to get such an expensive car but at the time I didn't care about that. Its a much better car and I'm happy that I have a car that isn't getting fixed constantly but I feel so guilty that I made such a huge purchase without thinking about it.

    For tea tonight we were meant to have the chicken for a curry but when it defrosted it was really slimy so I wasn't comfortable using it. Instead I used some veggies and a tin of chickpeas in the curry. It was lovely! It was a winner with everyone aswell.
    Today has been another NSD. Tomorrow will be interesting, we end up being really busy on thursdays and ending up in Mcdonalds for tea. I'm determined that won't happen this week.
    • Caspeia
    • By Caspeia 20th Jun 19, 2:14 PM
    • 151 Posts
    • 170 Thanks
    Caspeia
    5th work day of bringing food into work, I'm feeling a lot better from it. I'm not having the sugar crash 2 hours after break times anymore.

    Today a cheque came from Scottish power, I've recently changed providers and they owed me 5 apparently. It was a nice surprise to have!

    I've cooked some veggie fingers, chips and veggies and put them in the kids thermos. My plan is to bring it with us so after swimming lessons they can just have it straight away. Normally we go to McDonalds, I'm hoping the eldest won't moan too much!

    Still have 91 left for the next 8 days. I will need to go shopping soon but hoping too hold out until Saturday at least.
    Last edited by Caspeia; 20-06-2019 at 2:52 PM.
    • Gonna_Be_DF
    • By Gonna_Be_DF 20th Jun 19, 2:21 PM
    • 5 Posts
    • 2 Thanks
    Gonna_Be_DF
    Loved reading this Caspeia, seems like you're really determined to get there (loved the bit about being excited over nappies!)

    Good luck with your journey, just try to focus on how you will feel in 81 weeks time and you will get there no problem.

    Best of luck
    • Caspeia
    • By Caspeia 21st Jun 19, 8:13 AM
    • 151 Posts
    • 170 Thanks
    Caspeia
    Yesterday was another NSD. My daughter moaned a little bit about no Mcdonalds which I had thought she would. I made up some chocolate milkshake (need to get more powder - Lidls own one is dairy free!) I brought it out when she was moaning and she was won over. Win!

    Last day at work this week and I've got more porridge for my first break. For second break I have a packet of veg couscous thats best before May 2019. I'll make up half today and the rest on Monday at work. I'm amazed how much we have in our cupboards, I always go food shopping and then decide to eat out for our meals so most of the food doesn't get used! Hoping to clear out most of the cupboards and freezer over the next few weeks.

    One week till payday. Tonight I'm thinking just to have some pasta, I have an 11hour shift today so it needs to be a quick easy tea when I get in. I can't see myself spending any money today
    • Caspeia
    • By Caspeia 22nd Jun 19, 11:44 PM
    • 151 Posts
    • 170 Thanks
    Caspeia
    Very spendy day today. I'm now at 66.51 left.
    Spent 24.49. We went out for breakfast. 7.65. I promised kids pancakes and when I went to make them there was no eggs left. Husband ate all four yesterday. So we went to a cafe for breakfast. We then went to the park and I made an error of not bring snacks so we ended up stopping and buying drinks. For tea we all wanted a takeaway but instead we got some frozen pizzas from Tesco.
    However it meant I got to try out my new starling card, I'm really loving the feature that lets you add notes/pictures to transactions. Planning on writing a note if I take out money or taking a picture of my receipts so I can remember what I bought. Husbands account still isn't set up, still waiting for them to confirm his identity.

    We have 4 cats and the food I buy is frozen and comes in these wool wraps to keep it cold. If you send back 8 they give you a 5 off voucher, we have 8 now so I've requested my shipping label. I should get the voucher before our next order. Oue order is normally 32 which is monthly so we should be able to get this for 27 next month!

    Tomorrow won't be no spend day as i need to buy some fruit for the kids lunches. I made some soup earlier so they'll have that for their lunchboxes for the week. I also need to get some veggies as we have none left! Last of them went into the soup to get used up.

    5 days to payday. Normally at this point we are using our credit cards to buy food. I still have cash left!
    • katsu
    • By katsu 23rd Jun 19, 12:01 AM
    • 4,525 Posts
    • 14,063 Thanks
    katsu
    Well done on all the food from home. Saving money and being healthier - double win.

    I hope you find going to the gym goes fine when you get there and you enjoy exercising.
    Debt at highest: 8k Debt Free 31/12/2009 (nine years and counting ) Original MFD: May 2036. MF Dec 2018
    • Caspeia
    • By Caspeia 23rd Jun 19, 12:20 AM
    • 151 Posts
    • 170 Thanks
    Caspeia
    Thank you katsu. I still haven't been to the gym, I know I'll enjoy it when I'm there but its just making that first step back in. I can't see myself going tomorrow so I won't have achieved that goal for week this week. I will look out all my gym stuff and charge my headphones for Tuesday. I have a 5 hour gap without the kids before work so I'll make myself go then.

    Embarrassingly our cupboards were so full that the shopping I bought 2 weeks ago couldn't fit in the cupboard so had to sit on the counter. today I noticed there was enough room to fit all the food into the cupboards! My counter looks so much better now, it's amazing how much better something so small has made me feel.
    We used the last of the dairy free pizza today, my youngest can't have dairy. We bought a premade one reduced price (they are 3.50 full price!! managed to get the last one for 2.18) and cut it into 4 and froze it. I'm not sure if I should do that again or try to make my own and freeze it. I don't want him to end up not liking my one as the dairy free cheese is so expensive. Also need to do a stock check on his milk, he has the alpro 1 - 3 growing up milk. Its between 1.35 and 1.45 a litre. I try and bulk buy when its on sale for 3 for 3 but its not often at this price. I'm hoping we have enough left in the cupboard to last him a while.
    • Caspeia
    • By Caspeia 23rd Jun 19, 3:38 PM
    • 151 Posts
    • 170 Thanks
    Caspeia
    Fourth batch of cupcakes this week and finally got the perfect ones! They have to be dairy free and we've been testing different ratios of ingredients to see what tastes good!

    Writing the recipe down so I don't forget:
    100g vitalite spread
    100g caster sugar
    100g plain flour
    15g cocoa powder
    1tsp bicarb
    2 eggs
    1tbsp alpro milk
    1 capful of vanilla extract

    Spent 26.78 at the shop today. Fruit, veg, cereal, bread and eggs!
    • enthusiasticsaver
    • By enthusiasticsaver 23rd Jun 19, 3:43 PM
    • 8,745 Posts
    • 20,275 Thanks
    enthusiasticsaver
    sounds like you are doing really well. Love the dairy free cupcakes recipe. My granddaughter is dairy free too so I make dairy free cakes for her as buying free from is so expensive. They are much nicer too if baked at home.
    Early retired in December 2017

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • Caspeia
    • By Caspeia 24th Jun 19, 6:49 PM
    • 151 Posts
    • 170 Thanks
    Caspeia
    7ish spent today. Sent husband out for cheapest bottle of wine for the risotto we were cooking, he bought a 3 bottle and then spent 4 on chocolate and juice!

    On the bright side the risotto was delicious and theres two portions left so I'll take them to work for the next 2 days as I'm on a late shift.

    3 days until payday and roughly 33 left!
    I'll need to get fuel tomorrow, will only put 10 in.
    Can't wait to make a dent into the debt on payday!
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

150Posts Today

1,437Users online

Martin's Twitter