£32,940.78 to zero...

champagne_to_lemonade_ · 12 July 2018 at 2:10PM

Robin09 wrote: »

Good luck on your debt busting journey

Thank you :beer:

enthusiasticsaver · 12 July 2018 at 2:54PM

champagne_to_lemonade_ wrote: »

Thanks for your reply. My wage would be £1650 if I never took off the £150 but it is taken off my income before tax, I can access it whenever I want, so thought it was best to keep as savings?!

The dog walker is non negotiable as I need him to walk the dog those 2 days when I am at work and my daughter is at college. I could cancel him over summer but he is fully booked and can not risk losing my space as I will need him in August.

All my debt is 0% so with the minimum payments it is reducing by £344 per month. £1800 per month is my gaurenteed minimum, this year I haven't earned below £2000 but thought would just put in the worst casse scenario.

Agree about the present budget, this was just what I calcualed on average my yearly spends on Chrsitmas and birthdays were, but this will be dramtically cut. Should this come out my SOA?

OK that is clear about the £150 as savings so if you can access it then it can be used as an emergency fund. Christmas and birthdays should be allocated from your soa and ideally you would be putting cash aside monthly for this. I think you could definitely drop that lower though especially as you only have your daughter. Explain to extended family and friends you need to cut back and maybe arrange for kids only? We did that a few years ago and found it was a relief for most people to stop buying tat for people which cost them money and the recipients space.

champagne_to_lemonade_ · 12 July 2018 at 3:08PM

I am definitely going to rein in Christmas this year. I was the first out of my friends to have kids and at the time none of them had major outlays so they were all very generous. However, now everyone has multiple kids and it really all can add up! Going to be doing Christmas on a serious budget or maybe offer out my babysitting services to my friends for one night rather than buy kids more plastic tat and could bring them to mine and make Chrsitmas cards/watch Christmas films. I have just made this up in my head but think I will actually do it. At the end of the day they get loads of gifts and won't notice one less at all. All this Christmas talk and people havn't even been on their summer holiday - sorry!! :xmastree::santa2::rudolf:

I think this year I can get away with only giving to 2 more people for their birthday and could do it for £25 each. Christmas in total I could do for £500…so £550 to find over 6 pays is £91.66 slightly better on £125.

champagne_to_lemonade_ · 13 July 2018 at 8:39AM

It is pay day today for me! I have decided that I am going to be paying all my bills (obviously!) having a food budget, budget for the dog and a Christmas/Birthday pot. I am not going to save for annual expenses such as Building and Contents (due next July) Road tax (due next June) Car Insurance (Due next June) Gym membership (due next May). I know this goes against the norm, but I will deal with these when they happen and want to focus on everything into reducing my debt for the time being.

My overdraft has been paid off so my debt is £168.37 lighter. Will look into my credit cards and see what minimum payments are due because I had made a few payments at the start of the month so not sure what is actually due and when.

Debt as of right now: £32,772.41

champagne_to_lemonade_ · 13 July 2018 at 8:46AM

Made a payment to Barclaycard there, minimum was £168 but paid a little over £203.09 so balance now sits at £10,700.

Debt as of right now: £32,569.32

champagne_to_lemonade_ · 13 July 2018 at 9:18AM

Made a payment to Virgin of £116.52 balance is now £5500

Debt as of right now: £32,452.80

BelleOfBilboa · 13 July 2018 at 9:20AM

You go girl!!

champagne_to_lemonade_ · 13 July 2018 at 9:22AM

Sorry about all these posts, but I want to keep a record for myself to refer back to, and better than all the bits of paper I've scribbled these dates and figures onto.

Barclaycard £10,700
£1,134.65 0% October 2018
£2,934.66 0% February 2019
£6,630.69 0% June 2020

Virgin £5,500
£1,461.73 0% October 2019
£4,118.07 0% May 2020

MBNA £6252.80
All 0% December 2020

Loan (from my sister) £4000
0% until I pay her back

champagne_to_lemonade_ · 13 July 2018 at 9:24AM

I will wait until the MBNA direct debit comes out, not sure 100% what the minimum will be, made a rough estimate in my SOA as this is the first payment due. I don't want to make a payment now as I am not sure if I make one if they will still collect my direct debit or not. This card has the furthest away 0% dates so I will just be leaving that on the minimum for now.

Best go get on with some work!!

Mnd · 13 July 2018 at 10:16AM

Hi there, wishing you all the best.

Presents seem huge! I know I'm a tight so and so but that is massive.

Constructively, ditch the gym, valet your own car..2 birds 1 stone:T

£32,940.78 to zero...

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