£50k to zero - made it across the finish line

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  • Drawingaline
    Drawingaline Posts: 2,941 Forumite
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    Don't count on the direct debit being moveable. BT were particularly awkward and flatly refused to move ours. This was pre YNAB for me (now it doesnt matter when it is due for us as we are a month ahead) so I got my own back and took my business to sky :rotfl: such a petty victory, bit felt so good :T
    Debt free Feb 2021 🎉
  • One-step-at-a-time
    One-step-at-a-time Posts: 601 Forumite
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    Thanks Drawingaline - If they say no, so be it - it's a small insurance policy with three more payments to renewal, and I'm hoping to pay upfront for the next one, so it will only be a minor annoyance to have it sticking out like a sore thumb in the middle of the month for a bit longer :)

    Last night was a bit spendy due to having not factored in snacks at the pub being needed, but the whole night out, food, drinks and parking came in under £30, which was not far off what was anticipated, and it was a really nice evening. Budget has been balanced and the rest of the month won't suffer for spending the extra < £7!

    Today is a very lazy and no-spend one - more dough is rising so we'll have a nice fresh loaf later today, and I have a leg of pork from a yellow sticker frenzy to sort for dinner, I have some ebay stuff to pack before auctions end tomorrow, and more things plonked in the spare room to list. If hubby is feeling cooperative we may start sorting through some of his hoard of broken electronics to list for spares/parts as well, but that might be overly optimistic :)
    Debt-free August 21, Mortgage-neutral April 24
  • strawberryfield2233
    strawberryfield2233 Posts: 99 Forumite
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    One-Step hope you enjoy the rest of the weekend too. Glad you enjoyed the retirement outing and am sure you will enjoy your fresh loaf and Pork later today I bet it will smell and taste delicious !! :) TC
  • One-step-at-a-time
    One-step-at-a-time Posts: 601 Forumite
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    Thanks Strawberryfield and a happy weekend to you!

    I'm having a bit of a baking frenzy afternoon, seeing what random things in the cupboards and fridge can be made into cake ingredients. I was interrupted on a recipe search by an email ping, which tuned out to be a random print sale of a three year old photo from my website. :j Very unexpected but most welcome! I get £9 after the printers and HMRC get their cuts. This is the first sale entirely for me and not for charitable purposes this year. :) I need to do more website tidying and a bit more promotion I think. A few sales a month would be very welcome!
    Debt-free August 21, Mortgage-neutral April 24
  • strawberryfield2233
    strawberryfield2233 Posts: 99 Forumite
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    Thanks One-Step- I am sure Mr One-Step is liking all his baking too :D
    Well done on the print sale :T its very nice for something you have created to sell! TC
  • strawberryfield2233
    strawberryfield2233 Posts: 99 Forumite
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    Should have added we need need to see pictures of this baking !!! So we can be jealous!! (Dont know how you add them though!)
  • One-step-at-a-time
    One-step-at-a-time Posts: 601 Forumite
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    Oops, too late to get pictures of baking :)

    Just a flyby to say Happy Sunday - signature updated with a number that has given me a nice little psychological boost, thanks to six paid-for ebay sales on top of that print sale! :T:T:T
    Debt-free August 21, Mortgage-neutral April 24
  • strawberryfield2233
    strawberryfield2233 Posts: 99 Forumite
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    :T:T:j well done !!
  • One-step-at-a-time
    One-step-at-a-time Posts: 601 Forumite
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    edited 13 August 2020 at 2:10PM
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    Today is a new dawn in more ways than one - I am choosing to look past the credit card debt and daring to have a Grand Plan.

    We’re about to do a new 5 year fix on the mortgage to give us some payment predictability while the unsecured debts are being blitzed. The numbers I'm working with hinge on there being no affordability check, but I will confirm that with our lender when I phone. The fixed rate is at a fractionally lower interest rate than we are on now, and payments would be < £2/month cheaper.
    Assuming this is viable, at the end of this period we we will have less than £22k (and only another 5 years) left on the mortgage.
    From March 2019 my current c£500 extra/month commitment will be finished, as will hubby’s £250/month parental car loan.
    Most of that money will then be allocated to CCs, emergency fund, savings and a bit of living, but a small overpayment to the mortgage (increasing as other obligations reduce) should be entirely doable, and I’m hoping that by March 2023 we will be down to around £17k on the mortgage (at which point we go to the SVR, with no ERC other than a £65 admin charge).
    If by 2023 mortgage interest rates have skyrocketed to even something as preposterous as 20%, it would still be affordable, with no other debt in our way, to clear £17k in 2-3 years. It’s all just numbers on a spreadsheet at the moment, but the idea of shooting for debt-free and mortgage free within 7.5 years is very exciting, and we would both still only be in our early-mid 50s at that point. My pipe dream is to take hubby to Madagascar to see lemurs in the wild for his 55th birthday, and I've got just over eight years to make it happen; it would be a heck of a way to end the debt years!

    It seems insane to be even thinking about this in our current state of debt as we are basically flying by the seat of our pants this year. The promise of lemurs may even be the secret weapon I need to get hubby to start flogging his clutter, but that might be optimistic even for me! :rotfl:
    Debt-free August 21, Mortgage-neutral April 24
  • One-step-at-a-time
    One-step-at-a-time Posts: 601 Forumite
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    A veritable yellow sticker bonanza on the way home! Under £5 total.
    £4.50 salmon down to £1.14
    2x £5 thin crust pepperoni pizzas at £1.24 and on 2-4-1, so 62p each
    £2.10 enormous tub of coleslaw down to 54p
    Ripe avocados from £1.95 to £1.35 (not a brilliant but could be worse)
    Seafood Paella ready meal from £2.50 to 64p
    Debt-free August 21, Mortgage-neutral April 24
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