Mummytogirls - 100 years to be debtfree - I think not!
mummytogirls
Posts: 6,578 Forumite
Hello everyone!
Only ever posted on here once but starting to get my debts in order so starting a diary to try and keep me on track.
Basically since the beginning of 2010 ive really started to think positive about reducing my credit.
This included starting a spending diary which I have totted up February today and I can tell you I am throughly shocked!!
Joined whatsthecost.com today and snowballed which told me I will be debt free in 100 years :eek:! Well im sure I wont even be alive at which point and dont really want to live me life like this, teetering from one month to the next and juggling things around!
So here I am!
I have a loan with HSBC that will be paid off in Feb 2012. That is the biggy and costs me £353 per month!
Once this is paid off I will be throwing this money at the credit cards to hopefully get debt free by Dec 2014.
So here goes wish me luck!!!
Only ever posted on here once but starting to get my debts in order so starting a diary to try and keep me on track.
Basically since the beginning of 2010 ive really started to think positive about reducing my credit.
This included starting a spending diary which I have totted up February today and I can tell you I am throughly shocked!!
Joined whatsthecost.com today and snowballed which told me I will be debt free in 100 years :eek:! Well im sure I wont even be alive at which point and dont really want to live me life like this, teetering from one month to the next and juggling things around!
So here I am!
I have a loan with HSBC that will be paid off in Feb 2012. That is the biggy and costs me £353 per month!
Once this is paid off I will be throwing this money at the credit cards to hopefully get debt free by Dec 2014.
So here goes wish me luck!!!
Mummytogirls x
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Comments
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Hi Mummytogirls !
Welcome. Am an expert at juggling, peter and pauling it too !
I love my snowball too. Have to be totally honest with it and it hides nothing
Am in a similar position with a loan, 301.11 a month and finishes in Feb 2012, will countdown with youDC.
"Some people walk in the rain... others just get wet... " - Roger Miller0 -
Welcome, and well done on taking the big step! I didn't believe my snowball calulator, or the SOA when it told me how much I had "spare" at the end of the month... but it was true, and we were just wasting it away and living off overdrafts!
Have you looked at the challenges on here? They are really good and get you motivated! I'm doing the sealed pot challenge where you put any loose change in, then open it in time for Christmas (people make hundreds doing this!), and the make £10 a day challenge, which is anything you can make on top of your normal salary. I'm up to £70 already:j Currently doing the Swagbucks challenge :j0 -
Hi both,
Thanks for your replies, means a lot to see other people are in the same boat!
Different corner - wow I cant believe you have a similar loan to me! Sounds like a plan! Theres so many diaries on here, I will hunt yours down.
OMG we sound so similar with the Peter and Pauling haha!
Silly rabbit - I couldnt believe my eyes when I saw 1200 months. Had to get my calculator out to make sure I wasnt imagining 100 years!
Im just really get the hang of MSE so will have a nosey at the challenges. Well done on the £70 made already!!!Mummytogirls x0 -
OK so I must fess up about all the credit!
HSBC loan £7892 o/s - £353 monthly payment (to be paid off Feb 2012)
Barclaycard CC £7365 o/s - £7500 limit
Halifax CC £1788 o/s - £1800 limit
MBNA CC £3399 o/s - £3400 limit
£20444 worth of debt and nothing to show for it !
So as you can see its pretty much close to the line re cards being maxed out etc. Theres no option of me getting a 0% as ive got too much credit already.
Anyway, onwards and upwards !!Mummytogirls x0 -
And listed below is what I spent in cash during the month of Feb!
February
467.30Shopping
72.78Petrol
67.05Hair/beauty
30.00Playgroup fees
2.50Tea/coffee
12.00£2 savings
8.25Work lunches
1.00Work collections
29.83Takeaways/meals out
10.00Nights out
700.71 TOTAL
Totally shocking!!Mummytogirls x0 -
Morning MTG !
A spending diary is useful, writing down every penny. Unfortunately my organisation skills are pants and I've never got any further than day one before I start losing receipts.
There's a few budget planners and state of affairs calculators on the free tools index.
As rabbit says there's a few challenges to get you in the swing too. Grocery challenge and PAD (a payment a day) are good fun to mention a few.
Hope you have a good day.DC.
"Some people walk in the rain... others just get wet... " - Roger Miller0 -
Morning DC,
I know I was completely shocked when I totted it all up. The shopping has shocked me more than anything!
Im quite good at writing straight into my diary when I spend.
Thanks for all your suggestions will keep them in mind.
Well last night I did a bit of batch cooking! I had about 3 meals on the go all at once! So my freezer is now well stocked.
Vege chilli for tea tonight.
Have a good day xMummytogirls x0 -
Morning diary!
Nothing too exciting to report from here! Had a nsd Thursday which is an achievement for me I can tell you!!
Had a busy old weekend though with a night out and a Christening both done on the cheap.
Unfortunately no let up soon though with another couple of weddings coming up.
Spending diary for last week confirms I spent £169. Could be better I suppose!! xMummytogirls x0 -
Evening diary!
Just a quick update. Was very impressed with myself on Thursday :T. Received a letter from the CC company informing me of their rates being increased from May. So I rang them and closed the account keeping the rates at the old rate.
So now theres no temptation on that one card and I can concentrate on getting it paid off.
Happy Mothers Day to all mummies out there!!! xMummytogirls x0 -
well done for your positive action on closing the credit card so that they can't increase the interest rate.0
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