Best put on my big girl pants! my saving for a deposit diary
mumof3.12kindebt
Posts: 1,474 Forumite
My diary to debt free and saving for a deposit by 35 .*updated feb 2018 - aim to be homeowners by if not hopefully before 30*
we aim to save 25k before even going to the bank for a dip
current age 25 . current financal status . trying but not trying hard enough . in debt with hardly a pot to wee in ... it has to change ... from today
we have consolidated our debts as of November so will just do an update regarding extra payments and a remaining balance every few months.
for the most part this will be my diary on saving for a deposit the highs lows and raising 3 children all currently 8yo or younger while doing it .
update 13.07.2019
september 2018 - paid off the loan
november 2018 - became debt free
febuary 2019 - offer was accepted on our forever home
june 2019 - completed on our purchase and moved in - was left £3000 out of £12,500 after all our expenses
see my previous diary here
https://forums.moneysavingexpert.com/showthread.php?t=5656806
took out mortgage with 5% deposit over 40 years - and im not paying a mortgage until im 66!
see our new mortgage free diary here
we aim to save 25k before even going to the bank for a dip
current age 25 . current financal status . trying but not trying hard enough . in debt with hardly a pot to wee in ... it has to change ... from today
we have consolidated our debts as of November so will just do an update regarding extra payments and a remaining balance every few months.
for the most part this will be my diary on saving for a deposit the highs lows and raising 3 children all currently 8yo or younger while doing it .
update 13.07.2019
september 2018 - paid off the loan
november 2018 - became debt free
febuary 2019 - offer was accepted on our forever home
june 2019 - completed on our purchase and moved in - was left £3000 out of £12,500 after all our expenses
see my previous diary here
https://forums.moneysavingexpert.com/showthread.php?t=5656806
took out mortgage with 5% deposit over 40 years - and im not paying a mortgage until im 66!
see our new mortgage free diary here
June 17 £16,000 debt ~ nov 18 DEBT FREE •June 21 £16,308 debt / july 22 debt free •Original mortgage free date 01/06/2059 current mortgage free date 01/05/2046
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You might be best to post on the DFW diaries.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
this week i consolidated my debts . so now i only have one monthly repayment and much lower interest plus the catalogue (0%)
in june my debt total was £14898 not including recurring credit card interest
it currently stands at £12907.56 including loan interest
£11766.60 loan 6.8% (total includes interest)
£940.96 catalogue 0%
£200 family member (brought a tent and camping equipment off them)
we have 13 months until the end of next year . so my goals by 31st december 2018
catalogue paid off (£940.96p)
loan dd payments (£2549.43p)
extra to loan (£450.57p)
family paid (£200)
savings goal £10,000 (house + emergency fund)June 17 £16,000 debt ~ nov 18 DEBT FREE •June 21 £16,308 debt / july 22 debt free •Original mortgage free date 01/06/2059 current mortgage free date 01/05/20460 -
how are we doing so far
November 2017 - debt £12907.56 / savings £500
February 2018 - catalogue paid off . / savings 3200 / family 40 / loan 11000 - but banking app says 9396.11. so i need to phone them
April 2018
savings £3600 . total debt £7800
June 2018
August 2018
October 2018
December 2018
At the moment I hope to save
5k by April
10k by August
15k by DecemberJune 17 £16,000 debt ~ nov 18 DEBT FREE •June 21 £16,308 debt / july 22 debt free •Original mortgage free date 01/06/2059 current mortgage free date 01/05/20460 -
Sold a few things. £34 made.
Watching a film with the boys. Then it's tea baths and bed for the kiddies and I need to really crack on with my meds course for workJune 17 £16,000 debt ~ nov 18 DEBT FREE •June 21 £16,308 debt / july 22 debt free •Original mortgage free date 01/06/2059 current mortgage free date 01/05/20460 -
So thats 500 in savings. And 164 in the box so far. Will update tomorrow . Have a good evening allJune 17 £16,000 debt ~ nov 18 DEBT FREE •June 21 £16,308 debt / july 22 debt free •Original mortgage free date 01/06/2059 current mortgage free date 01/05/20460
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More items sold and collected. Another £45 to add to the box
I'm going to eat my tea and have an early night. Boys have gone to stay at my grandmas. I completely forgot about this. Hoping baby will settle okay. Haven't got as much as I wanted to get done during my week off but it's been nice to have a little rest TBH and just not be rushing around so much. I haven't done much in the way of preparing for Xmas.
Cant wait till next pay day to add more to the savings accounts. Hoping to add around £1k next month.June 17 £16,000 debt ~ nov 18 DEBT FREE •June 21 £16,308 debt / july 22 debt free •Original mortgage free date 01/06/2059 current mortgage free date 01/05/20460 -
£760 saved since the 7th of October .
Boys are still with grandma so I'm going to crack on with my course from work.
Have a lovely Sunday everyoneJune 17 £16,000 debt ~ nov 18 DEBT FREE •June 21 £16,308 debt / july 22 debt free •Original mortgage free date 01/06/2059 current mortgage free date 01/05/20460 -
So I've used £200 of the savings to pay the family member what I owed them. So now it's just the loan and the catalogue . One less thing to worry about while saving up.June 17 £16,000 debt ~ nov 18 DEBT FREE •June 21 £16,308 debt / july 22 debt free •Original mortgage free date 01/06/2059 current mortgage free date 01/05/20460
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You’ve done quite well with your savings. How long is the catalogue on 0%? Will you have paid it off before they start charging you interest?0
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Thankyou
Yes it will be paid before the interest I have until Sept 2018 . This is why I didn't include it within the loan consolidation otherwise I would of done.June 17 £16,000 debt ~ nov 18 DEBT FREE •June 21 £16,308 debt / july 22 debt free •Original mortgage free date 01/06/2059 current mortgage free date 01/05/20460
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