Starting my diary again...

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  • CandyCupcake
    CandyCupcake Posts: 274 Forumite
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    Weekly payday has arrived :T

    Balances all updated accordingly. I've also been doing really well with my bet matching this month, so managed to pay £100 back into my partner's savings :)

    My monthly payday will arrive either tonight, or Sunday night. So will be able to make some more transfers then. Was really hoping to pay the family loan off, not sure that will happen but will certainly leave a minimal amount to payback!

    I'm in turmoil once again over the whole debt v savings thing. Once I receive my monthly pay I should be able to send a further £54 over to the family loan, leaving a balance of £45.61. Part of me wants to take the £45.61 out of our EF to clear the loan, but I also like the comfort blanket of the EF and seeing it build. So any opinions or comments on this, I'll be glad to hear them :o

    Carrying on from the above thoughts, on the back of a suggestion from another MSE member, I have calculated that we need to pay £130.24 a month to the Halifax CC and £143.70 a month to the MBNA credit card to have them both cleared before the 0% deals run out. I feel this is doable, based on what we have achieved with building the EF and paying the family loan. Now the catch, shall we throw everything at the EF and then as each credit card bill is due, pay the relevant amount from the EF? Again, any comments welcomed!

    If it helps, my partners of the opinion we pay off the debts with the savings.
  • CandyCupcake
    CandyCupcake Posts: 274 Forumite
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    Woohoo it's arrived! :beer: Money all allocated to relevant pots.

    Both mine and my partner's car tax are due 1st March, we budget for this so that's no issue. Anyway, taxed my partner's no problem. But as my car is coming up to 3 years old it's due it's first MOT on 28th Feb, so they won't let me tax it until it's MOT is done which is frustrating! Anyway, both cars are due their MOT so will get them booked in tomorrow, then I can get my tax sorted.

    The family loan is paid off, yay! So one debt down :D

    I've also decided to throw all spare funds into the EF, but then each month take out the credit card payment from the pot when it's due. I know it's not what everyone would do, as it means the EF will go up and down but it just seems to be a less stressful and less complicated way of doing it. So, my first credit card payment to MBNA is made :) Doing it this way won't make us debt free by November, however, it will mean we will only owe around £1800 between us and will have a nice little EF built up. We will be debt free by August 2020 at the latest and be down to only one debt by Feb 2020. Once I've paid back my partner's savings, and the EF is above £1000, I will look at making additional months payments each month to reduce our DFD.

    I really hope this motivation sticks with me, as I'm enjoying this debt busting and feel kind of proud of myself :o
  • CandyCupcake
    CandyCupcake Posts: 274 Forumite
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    Not much to update, other than topped up EF.

    Halifax CC payment not due yet, but I'm assuming I will get the statement in the next few days as the BT was done on 28th January. Until then no more debt payments.

    My focus this week will be to knuckle down with some bet matching so that I can add some funds to the partner's savings :)

    Hope everyone has a nice weekend!
  • CandyCupcake
    CandyCupcake Posts: 274 Forumite
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    It's here again, so money sent to all pots accordingly.

    First payment sent to Halifax, so that's 1 payment down 11 to go :)

    I did have a little oops moment and spent £199 from the EF on non-emergencies. But I'm determined to put this money back this payday (monthly). It was for work things that I've held off for a while so I don't feel it was wasted or unnecessary spends.
  • CandyCupcake
    CandyCupcake Posts: 274 Forumite
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    Not much to update, a little bit sent to the EF but that's about it.

    Built up £65 with my bet matching, but we have a friend's Birthday meal tomorrow and go to Geneva for the International Motor Show on Sunday so will use the £65 for those. At least it can be guilt free spending!
  • QueenT
    QueenT Posts: 9 Forumite
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    Hi Candy, glad to see your back on track and you were able to become a home owner! Well done.

    I was wondering how the match betting works? What site do you use? :cool:
  • mark55man
    mark55man Posts: 7,926 Forumite
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    Hello, thought I would drop by and join in. Its really good that you have kept persisting with the diary this time. The thing with clearing debts is that it is a long old journey and sometimes there is nothing to be said, but listening to the numbers tinkling down.
    I think I saw you in an ice cream parlour
    Drinking milk shakes, cold and long
    Smiling and waving and looking so fine
  • CandyCupcake
    CandyCupcake Posts: 274 Forumite
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    QueenT wrote: »
    Hi Candy, glad to see your back on track and you were able to become a home owner! Well done.

    I was wondering how the match betting works? What site do you use? :cool:

    Hi QueenT. I'm not sure what the rules are on MSE with bet matching discussions, but it's a company called PA (that's not the full name as I'm not sure I'm allowed to give it) I use. It works by making money from bookmakers new customer offers and reload offers. I've only been doing it since August last year but have made over £2300 and that's without really spending too much time on it. I think the key with bet matching is not being drawn into the gambling side of things! Funnily enough at the thought of gambling I'm like 'how can anyone enjoy just giving their money away' but at the same time will get into debt and pay interest which is really the same thing :rotfl:
  • CandyCupcake
    CandyCupcake Posts: 274 Forumite
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    mark88man wrote: »
    Hello, thought I would drop by and join in. Its really good that you have kept persisting with the diary this time. The thing with clearing debts is that it is a long old journey and sometimes there is nothing to be said, but listening to the numbers tinkling down.

    Hi Mark, thanks for dropping by! I think keeping the diary helps as you can see your progress but it's also somewhere to get out any thoughts that might be playing on your mind - especially finance related ones! I think I find it motivational too as I feel better when I have a nice update to post and get to update my signature and see those figures drop :D
  • CandyCupcake
    CandyCupcake Posts: 274 Forumite
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    So this month was bonus payday meaning I've been able to put some of it towards debt and pay £422.99 to my partners savings, so I now only owe him £324 :D this feels a lot more manageable and I know I'll be able to pay that off. When it was closer to the £1000 mark it really was getting me down.

    As well as the above I've made payment number 2 of 19 to the MBNA credit card. I also feel really proud of myself for this next bit... so my cousin offered to pay for me & my partner to go and visit them over in Canada. He said for me to sort the flights and he will transfer over the money. Anyway, I booked the flights on the credit card and awaited the transfer of money. It's come in today (took a few days being international) and I've cleared the credit card (this is the Barclaycard one that we did the BT to Halifax from)!! Now I know you're probably thinking what's the achievement, but the old me would have spent the money. I'd have had every intension of paying it off the credit card, but it would have never happened. So I'm feeling proud :)

    Anyway, rest of the money all to the correct pots I just need to update my signature.
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