The dreaded D word

MeenaM · 14 March 2018 at 9:48PM

hello and good luck with your debt busting , yes i think £1000 as an emergency fund would be a good idea while you are paying off every thing you can at your debts, i would get the debts totally gone then put some more into your emergency fund before you then over pay on the mortgage , also have you done a written budget for the month that both of you are on board with?

snorfing_along · 15 March 2018 at 3:32PM

Hi MeenaM, thanks for stopping by, yes the budget is all sorted so we know how much we need for food, bills and transport every month, and this will be put into the joint account to cover all our joint expenses.

I've decided to start putting about £300 a month into an emergency pot for the next few months so we have some saving as I expect I'll need some work doing to my car when it goes in for it's MOT and I'll be paying £655 off my cards this month and I have to have my MBNA card paid off by the end of April, then I can target the Yorkshire Bank card and get that cleared by August, I think at this point I'll possible re-evaluate everything and possible start putting an additional £50-£100 a month to the mortgage and increase the emergency fund to cover 3months of bills as a safety net for the future

beanielou · 15 March 2018 at 4:54PM

All sounding good

snorfing_along · 21 March 2018 at 4:22PM

Can't wait for payday on Monday, but I had an unexpected expense yesterday which will come out of the money that I was going to put into the emergency fund but I guess that's the point of it. I might be able to claim the money back via insurance but I'll see if there are any other connected expenses first

snorfing_along · 26 March 2018 at 11:42AM

Payments made today

Barclaycard: £6880/155
Tesco: £3015/30
Yorkshire Bank: £1935/20 (can't actually pay this until the 29th)
MBNA: £1050/450

Total debt: £12229

So the plan for April is to pay off MBNA and then concentrate on Yorkshire bank card and pay that off by August- I'll hopefully get a bonus next month which will cover a chunk of the Yorks card so I could even get that card paid off by June and then there is more money to concentrate of my Barclaycard.

I don't know about anybody else but I'm feeling so tired by the clocks going forward, at least it's eater next weekend. Plenty of time to eat chocolate and sleep.

In other news my husband and I have decided that we want to move house so the house is on the market so I have lots of cleaning and tiding to do over the next few days. I have mortgage in principle which looks good and we have already seen a house that we would like to buy. Very exciting but also a little stressful!

beanielou · 26 March 2018 at 8:53PM

I am so tited I cant tell you.
How can an hour make such a difference?

snorfing_along · 5 April 2018 at 12:31PM

I feel like I should be posting more regularly but I'm not really doing anything to clear the debt, except for going to work to earn money to pay off the debt - does that count?

On the house front we had a viewing over Easter weekend and we have another booked for this coming weekend, so fingers crossed it won't be long until we get an offer

snorfing_along · 6 April 2018 at 11:06AM

I've updated my signature but I don't think I've done it the right way, what's the usual way the people update the outstanding debt in their signatures?

beanielou · 7 April 2018 at 7:48PM

How you update your signature is up to you

I do it the other way ie 300/£3000.

snorfing_along · 13 April 2018 at 12:55PM

Starting budget again for next month as I my statements start to come through. Does anyone else get bored of waiting for pay day just so that I can pay down the debt?

The dreaded D word

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