Determed To Do It

Yes... this a new diary... again :A

There is a new plan of action in place, so I felt things needed a clean thread. For anyone who was reading along on my last diary, my OH is in the process of selling his old marital home and was going to be in a position whereby he would clear my debts and I would just repay him monthly.

This is now no longer the case, the asking price has been reduced and with fees etc included he would not be left with much of a nest egg past paying his own substantial debts, so I have told him to keep his hard-earned money for himself and I will do this the way I should always have been doing it.

Since we first had the discussion about clearing both of our debts, I have been somewhat complacent with paying them i.e the bare minimums and not a lot has really gone down! I have spent my time at work and at home today since making the decision to do it alone, calculating and calculating.

At present I have just opted to increase my contribution to the household (having taken on a second job) until his house is sold and he has more disposable income to not need extra money from me - I have seen his projected I & E sheet, he will be living a very easy life - but will reduce this amount slightly once he has heaps of disposable income, even after savings.

So, with all of the above in mind I have input my figures into a snowball calculator as they should be around the time he gets the money from the house, at which point the total will be around £4.5k. This is input with my current balances minus three months worth of payments (factoring in interest, etc) and these are minimum balances in the sense of, I am aiming for them to be slightly lower but that is a definite figure they will be. The good old calculator tells me this will be 10 months of paying down the debt to get to zero, and my aim is to get that done much sooner!

I have calculated it with £500 per month in debt payments, I could push to £550, and obviously I will have income from surveys and other bits and pieces to overpay them, too. I am confident I can actually pay off one debt before the snowball starts, and that £30pm can be thrown into the mix to pay more off of the other debts.

Pots I currently have in place:
"Carry Over" pot for leftover/extra money to be carried to the next month
"Car 2020" pot - insurance and tax money as a minimum, preferably service and MOT costs too
I also have a HTB ISA with a whole £5 in, but I was aware they would not be around to open one for much longer!

The positives:
- I actually feel really good about doing it by myself, I was wary of mixing so much money into our relationship and I will feel really proud when it is done
- I just won £12 absolutely free in a promo room on bingo online and have withdrawn that :rotfl:

Bear with me if you have read my previous diaries, and are rolling your eyes at the thought of another one, this is the new plan and it is the final plan!

I am off now to print off my snowball sheet to show OH, and go for a quick stroll before tidying the house.

How do I feel right now? Determined. :dance: