Ditching the last of the pizza debt

misstara · 10 July 2017 at 10:11PM

Just popping over to say hi and subscribe to your new diary

ani*fan · 11 July 2017 at 5:10AM

dionysia wrote: »

It's really inspiring to see your new diary with all the progress you've made and going forward into this new stage of your life!

Thanks dionysia. I'm glad to have inspired you, I've certainly had enough inspiration from this place over the years, it's great to give something back.

mfmaybe wrote: »

On the card debt vs savings, how about saving your money for now (other than minimum payments); but working out your net debt position. So card balance less the (very clearly ring-fenced ) stoozing money. That said, it depends just how much interest you would be losing out on. Given current low savings rates, I might still be tempted to keep paying off the card.

Ooh, net position, that's an interesting one. My share of the deposit and equity in the flat is £4,100, minus the debt of £6,750, net position is -£2,650. That looks so much better than just the debt figure!

I know interest rates are not great, and even in my linked saver at 5%, because I've been saving £200 every month and not in a big lump sum, the total interest at the end of the year is only £60. I'm still practicing at saving, it's not something I'm familiar with, maybe worth doing to get into the habit?

ani*fan · 11 July 2017 at 5:53AM

EssexHebridean and hiddenshadow...all good points about the pros and cons of stoozing vs paying off the card. This is what I've decided:

I'll keep the DD to HSBC at £150 for now.
I'll put £200 per month into a linked saver.
Over 12 months, this leaves £490 still to pay. I can continue making small overpayments and knocking it down when I can.
This means I can practice saving, see the debt go down faster, and HSBC will be paid off by July next year.
Good plan?

About the EF:

I'll put £200 per month into my TSB account.
This will earn 5% if I remember to do the £500 transfer every month.
In October I'll add in an extra £200 that I usually pay to the wedding fund as the wedding will have happened by then.
£1,000 plus interest EF saved by the end of October, then reassess.

So I need to open a new linked saver. I'm going to go with my own bank after the 20th of this month when the old one matures, nice and easy to keep track of. Then set up 2 standing orders from my account, one to the TSB and one to the linked saver. This should leave our disposable at £700 per month for flat repairs. I'm off to check my spreadsheet and make sure I've got that right.

Thanks everyone. Loads of heads are always better than one when figuring these things out.

ani*fan · 11 July 2017 at 6:01AM

Chandelier. wrote: »

Happy shiny new diary

Isn't it amazing how things change over time. I'll subscribe and look forward to seeing your updates.

Thanks Chandelier. Yes it is amazing, and I might not even have noticed how dramatically things had changed if it hadn't been for my diary on here.

misstara wrote: »

Just popping over to say hi and subscribe to your new diary

Glad you found me misstara!

I have to say, your signature is looking amazing! Well done!

Hiddenidenity · 11 July 2017 at 10:15AM

A lurker following you over

You've done amazing! x

ani*fan · 13 July 2017 at 6:14AM

Thanks Hiddenidentity, I really appreciate the encouragement.

This month's minimum payment has gone out so the debt today stands at £6,600

Smaller than it's ever been but still some ways to go. I'm on it. :j

Me and OH are off work now and had some ambitious plans for what to do to the flat during that time. I have squeezed our budget every which way I can, but it's not going to stretch quite far enough so we have decided to slow the pace slightly. Everything is still moving forward though.

My mum is visiting tomorrow and bringing her old garden furniture for us. I don't know what condition it's in now, but anything is better than nothing so gratefully received.

Happy debt busting day everyone.

Igamogam · 22 July 2017 at 4:01PM

Found you! I will catch up later but congrats on passing the study..........Dr Ani*fan yes?? I am right in thinking it was a PhD?

Hiddenidenity · 23 July 2017 at 8:17PM

Hope you've had a lovely day

ani*fan · 5 August 2017 at 6:27AM

Igamogam wrote: »

Found you! I will catch up later but congrats on passing the study..........Dr Ani*fan yes?? I am right in thinking it was a PhD?

You are correct Igamogam, thanks for remembering! I probably won't have a graduation ceremony until next year, and who knows what's happening with a job, but all the hard work is over and I'm delighted to have made it through.

In the meantime, furry purrball has thyroid problems. He's ok, I think we caught it in time, but he looks like a bag of bones and can't stop eating. I've been very worried for him. Also, the costs of blood tests and meds really do add up. Once we've worked out the strength of meds he needs, I'm going to try and buy them cheaper online. Anyone have any experience of this?

The garden furniture is perfect. So pleased my mum brought it. MSE score.

This month we have a fireplace being dismantled, a wall being built, windows and a door being fitted and some more work done on the electrics. Me and OH are on the strictest frugal month ever to try and get through. Oh, also we're getting a sander to sort out the floors. Wish us luck, i think we'll need it!

Happy mse weekend everyone.

crazy_cat_lady · 5 August 2017 at 11:01AM

Huge congrats on the PhD Ani

Sorry about the cat - I have no idea re thyroid issues. We have one with digestive issues that costs us at least £25 a month in medication. You just do it though don't you? Hope puss is better soon and properly medicated.

Ditching the last of the pizza debt

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