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  • FIRST POST
    • dipdap
    • By dipdap 1st Oct 14, 1:22 PM
    • 6,113Posts
    • 88,511Thanks
    dipdap
    Working towards being debt free, a new house and now beyond!
    • #1
    • 1st Oct 14, 1:22 PM
    Working towards being debt free, a new house and now beyond! 1st Oct 14 at 1:22 PM
    This could be a long post with a lot of rambling as I'm not sure where to start.

    Me and DH currently owe £26,059 (I know right down to the penny what we owe ) and are working our backsides off to clear it all away
    This is only a fraction of what we originally owed. I've decided to post on here (it's taken me 18 months since I joined mse to finally feel confident enough to write everything down on here) as I need it to serve as a reminder to me to keep ploughing through this debt as we both really want that end goal.

    I'll start at the beginning way back in 1999.
    We did as many people have in their twenties and ignored our parents advice and spent money we didn't have. I finally realised the extent of our debt when i signed up to check our credit reports in 2009 (for both me and DH) and saw in black and white the amount we owed. My memory is a little hazy but a recent calculation has set the figure at £68,000 in early 2009. This was the peak of our debts and i was a figure I've been scared to utter for many years since. Nobody knows exactly how bad we were, just me and after a few months DH (I initially kept it to myself while i tried to get my head round everything).
    Like many other people I have no idea where some of it has gone (3 brand new cars over the years account for quite a bit).
    On top of that we have a house which was bought for £30,000 many years ago and after remortgaging a few times (yes I know how stupid it was) the mortgage ended up at £100,000

    Seeing this written down makes me feel sick but I've felt the need to post it here to serve as a reminder to myself and DH that we will not make the same mistake again down the line.
    I set myself up a spending diary in January 2013 (back then it was a little notebook, today I have a 2014 diary) which documents every penny we spend and all money that comes in.
    I've just totted up how we've handled our debt in the last 5 years (using the free to access credit report)
    *edited to include a couple more years *

    2009 = £63600
    2010 = £62200
    2011 = £55200
    2012 = £47900
    2013 = £37600
    2014 = £26000
    2015 = £7520
    2016 = £2500

    In the last couple of months we've had an agreement in principle on the mortgage for the new house we want to buy (new build, not very mse i know) and we have about £38k in equity in this house, so the new mortgage is on the proviso that we clear all our debts before we move (I know a mortgage shouldn't be used to clear debts, but we're happy to go down that route as any spare money when we move will be used to overpay and bring down the balance).

    Sorry for rambling, we have gone it alone in clearing off the debt, I've posted on here as money recently has become less tight as monthly commitments have been removed. I don't want us to become complacent, we can keep working on this debt

    I wish I'd posted this at the start of last year, but at the same time I just couldn't bring myself to write it down
    Last edited by dipdap; 05-01-2017 at 10:50 AM. Reason: Adding new figures
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
Page 3
    • dipdap
    • By dipdap 10th Oct 14, 9:18 AM
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    • 88,511 Thanks
    dipdap
    Woohoo, new page, need to write myself a to-do list for the next week
    If it's at the top of the page it's harder for me to avoid

    Finish garden path done
    Weed veggie patch
    Finish painting small room nearly done, just waiting for a replacement part for the filler canister
    Finish glossing skirting boards in my room done
    Paint walls in my room
    Finish laying carpet upstairs nearly done, landing and airing cupboard to finish
    Gloss and replace skirting boards in lounge
    Fit carpet trims on all thresholds upstairs getting there, just need to finish carpet
    Read and subscribe to 5 diaries (5/5) done
    Sort voucher folder
    Last edited by dipdap; 25-10-2014 at 5:17 PM.
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 10th Oct 14, 10:59 AM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Money left in the account (with 2 weeks to go) £946

    Direct debits = £356
    Fuel = £100 (have allowed extra just incase)
    Kids classes = £51
    Ciggys = £28
    Other = £14 (currently pending for an amazon order which may yet be cancelled)

    Total left over is £397
    That should cover groceries, the new flooring we need for the kitchen (which is about £150) and any other bits I may have missed.
    Anything left over will go to the credit card
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • MrsSmith2013
    • By MrsSmith2013 10th Oct 14, 5:23 PM
    • 483 Posts
    • 522 Thanks
    MrsSmith2013
    Love a list, and a plan dipdab! Fingers crossed that you have some of your £397 left to pay off the debts at the end of the next couple of weeks.

    Mrs S x
    1st Jan 2014 £20,600 / 1st Jan 2015 £15,572.90
    **Feeling Hopeful that 2015 will be our Debt Free Year**
    • dipdap
    • By dipdap 11th Oct 14, 12:58 AM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Love a list, and a plan dipdab! Fingers crossed that you have some of your £397 left to pay off the debts at the end of the next couple of weeks.

    Mrs S x
    Originally posted by MrsSmith2013
    I'm hoping there's some left over but knowing this lot there won't be
    Dinner time at work so thought I'd jot down my spending for today

    £3.94 on ciggys
    £2.46 on food essentials

    Total spend for today = £6.40

    Very happy with that, I don't usually manage NSDs so these kind of days are the closest thing I have
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • bubbs
    • By bubbs 11th Oct 14, 7:02 PM
    • 51,164 Posts
    • 616,546 Thanks
    bubbs
    Hello Dip
    Just checking up on you
    Well done, your doing great
    You are doing very well keeping your diary up to date as i know how busy you are
    Sealed pot challenge number 242 £350 for 2015, 2016 £400 Actual£345, £400 for 2017 Actual £500
    Stopped Smoking 22/01/15
    :5 st 1 1/2lb
    • dipdap
    • By dipdap 12th Oct 14, 5:34 AM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Bleas ya Bubbs for checking in on me
    Quick final tea break at work, gives me time to jot down what I spent yesterday

    £2.70 on new light for my bike
    £11.00 on water bottles for the kids
    £1.01 on food bits
    £5.00 on dance
    £3.94 on ciggys

    Total for the day = £23.65
    Last edited by dipdap; 12-10-2014 at 3:34 PM.
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 12th Oct 14, 3:36 PM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Hello diary
    Better jot down my spend for today now, shops are closing in a bit and I have work all night so no danger of me spending any more money

    £3.00 on basketball
    £1.59 on sand for the back garden
    £20.95 on grocery shopping

    Total spend for today = £25.54
    Last edited by dipdap; 13-10-2014 at 2:01 PM.
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 13th Oct 14, 7:03 AM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Morning diary.
    Well it's a new week, means I really should try to behave myself and stop buying things I don't need
    I think I need to buy new flooring this week so that's gonna hurt my spending budget though
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 13th Oct 14, 12:40 PM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Woohoo, one of my 2 remaining credit cards has sent me a letter for 0% bt for 9 months ( isn't great but will do for now )
    Only catch is the card I transfer from has to be in my name
    I've just added myself to DH only credit card account which is the one we want to transfer from (0% ends in December) so I'm hoping that card comes through and I can transfer from him to me
    Would mean all CC debt would be on only 2 cards, both held by me so easier for me to monitor
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 14th Oct 14, 12:10 AM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Good evening diary
    Quick visit from me to note down my spend for the day

    £4.50 on dance
    £1.49 on shopping (bread and chocolate )

    Total spend for the day = £5.99

    Cheap day
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • Dobbibill
    • By Dobbibill 14th Oct 14, 9:34 AM
    • 2,914 Posts
    • 3,901 Thanks
    Dobbibill
    Woohoo, one of my 2 remaining credit cards has sent me a letter for 0% bt for 9 months ( isn't great but will do for now )
    Only catch is the card I transfer from has to be in my name
    I've just added myself to DH only credit card account which is the one we want to transfer from (0% ends in December) so I'm hoping that card comes through and I can transfer from him to me
    Would mean all CC debt would be on only 2 cards, both held by me so easier for me to monitor
    Originally posted by dipdap
    Hey dipdap,

    Nice to have a 0% offer from the credit card even if it's only for 9months

    I hate to be the bearer of bad news but I don't think you are going to be able to transfer from DH to yourself. All CC's are in a sole name (they have additional card holders not account holders) so I think the chances of moving it are slim. I didn't want to ignore the post and in December you find you are up against it without warning, on top of Christmas. Check it out with them first!

    You are doing really well with the diary, recording all spending is fab so keep up the good work

    DB
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    It's not about being the best -
    It's about being better than you were yesterday.
    • dipdap
    • By dipdap 14th Oct 14, 9:57 AM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Hey DB
    I assume this will be the case too (from what I've read my CC provider is one of very few who stipulate the transfer needs to be from my name). When I look on my account the BT page never asks for a name (although it states the card should be in my name) I read the paperwork and it also said the card needs to be in my name so thought I'd give it a bash (don't shoot don't score ). I'm hoping I can play dumb as the card coming will have my name on it
    I still intend to slash DH debt down by as much as we can, same plan as before if the remainder can be BTd even better (I have till December to take up the promotional rate and DH offer ends in December too so the window is quite a big one

    Thanx for taking the time to reply and giving me a heads up though Hun
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 14th Oct 14, 11:14 PM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Evening diary
    Not had too bad a day today, spent out a little extra on a treat for the kids but it was too good a bargain to pass up

    £2.03 on bread and fruit
    £3.94 on ciggys
    £10.00 on some computer games for the kids
    £12.00 on paint

    Total spend today = £27.97

    Not too bad really, the paint is needed so I can carry on sorting the house and the games, although they've cost me a tenner, are a treat for the kids, who will in turn give me a handful of old ones they no longer want that I can trade in towards their Christmas pressie
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 15th Oct 14, 8:12 AM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Morning diary
    I think I'm flagging a bit today, I could so easily go out and spend money to make me feel better right now but sitting thinking about it I know it would make me feel worse
    I had a genius moment last night for the kids big Christmas pressie (they want a wii u between them) and I'm currently sitting pricing up the trade in value of some of their old computer games. I think I need to hit about £250 in trade in to pick them up a brand new console bundle from one of the big hig street chains, I'm currently at about £15
    I'll be over the moon if I can get their pressie this way, will mean more spare cash for paying off the CC
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 15th Oct 14, 11:19 PM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Evening diary
    My mood lifted a bit this afternoon, had to go shopping for a new school coat for one of the kids (hadn't realised they'd been going in in the wrong colour and got into trouble )
    That'll teach me to read the uniform policy properly and buy a coat in the sales

    £17.10 on a coat (i had some vouchers )
    £4.40 on food (bread and various sandwich bits)
    £2.00 on school dinners
    £1.90 on eating out

    I'm ready for bed, goodnight!
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 16th Oct 14, 7:31 PM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Hello diary
    Been on a bit of a downer today, think things are getting on top of me

    £13.00 on dance
    £7.54 on food (bread, milk, cake bars, cereal)
    £3.94 on ciggys

    Total spend for the day = £24.48
    Last edited by dipdap; 18-10-2014 at 9:57 PM.
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • Dobbibill
    • By Dobbibill 16th Oct 14, 10:25 PM
    • 2,914 Posts
    • 3,901 Thanks
    Dobbibill
    chin up dipdap

    you will have ups and downs but keep up the good work, you are doing so well

    DB
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    It's not about being the best -
    It's about being better than you were yesterday.
    • dipdap
    • By dipdap 17th Oct 14, 12:19 AM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Thanx Hun
    For some reason it makes me feel a bit better to post here (even if it's only the odd comment) and know that most people I know won't read it.
    It may be a big long rant, or a small comment but it don't half lift a weight off my shoulders sometimes

    I've been kicking myself today (and for a few days) for stuff that happened years ago. I really wish that LBM would have come years earlier, it's making me sick thinking about how much money we paid in interest to various company's over the years (the ones we thought we're helping us). I really should have made more of an effort to sort it out but I remember having a conversation with at least one credit card company where I was trying to halt interest or reduce the rate, needless to say nothing changed as the companies made me feel stupid and guilty.
    But I've sat and read a few diaries and have realised were only human and the mistakes make us who we are.
    Once were debt free hopefully we won't make those mistakes again

    There, I feel better again
    It doesn't seem such a big thing now it's written down compared to how it was whizzing around my head
    I think I'll put pen to paper in the morning and work out my spending figures for the second week

    Goodnight diary, tomorrow is a new day and hopefully it brings sunshine (as it's cheaper than running my tumble dryer!)
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • dipdap
    • By dipdap 17th Oct 14, 7:41 AM
    • 6,113 Posts
    • 88,511 Thanks
    dipdap
    Good morning diary
    It's a toss up today between carrying on painting the house (it's beginning to get tedious now!) or taking the kids out to play after lunch (I've been invited out by a family member).
    Painting the house would be more mse as it won't cost me any extra money. Decisions, decisions....
    Historic Debt August 2009 = £63,600 10th March 2017 = £0 100% paid all gone!
    PAYDBX2018 # 102 = £1,810 / £7,000 25% paid
    Saving for Xmas 2018 = PP £20 TCC £121 Amazon £0
    If you focus on what you have left behind, you won't see what lies ahead - Gusteau
    • Dobbibill
    • By Dobbibill 17th Oct 14, 10:34 AM
    • 2,914 Posts
    • 3,901 Thanks
    Dobbibill
    Good morning diary
    It's a toss up today between carrying on painting the house (it's beginning to get tedious now!) or taking the kids out to play after lunch (I've been invited out by a family member).
    Painting the house would be more mse as it won't cost me any extra money. Decisions, decisions....
    Originally posted by dipdap
    Hey dipdap,

    Hope you get to the right decision.......remember all work and no play makes Jack a dull boy!

    Make sure you get the right spend/save balance or you will lose your motivation. A day out with the kiddies create memories that will last much longer than your debt and it hasn't always got to be about spending money. Some of the other boards give good ideas for entertaining the kiddies for next to no cost. (parks/feeding ducks/picnic/bicycle rides etc)

    There's no right or wrong answer for your decision so have a good day whichever option you choose

    DB
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    It's not about being the best -
    It's about being better than you were yesterday.
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