Journey to £0 by 2020, with a few bumps along the way

1…457910…64

Comments

  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Name Dropper First Post First Anniversary
    enthusiasticsaver wrote: »
    Those savings are building up nicely. Looks like you have your wedding paid for now :) Still the bonus to come next year as well.



    :) We need £13,000 for the wedding


    The £10,650 we have in savings, £3,000 is earmarked for the car deposit.


    So, £7,650 is for the wedding which leaves £5,350 still to save


    We are still due £2,400 from my Dad and £1,000 from mother in law. So for our contribution we have £1,950 still to save. Hopefully do that by Christmas, 6 months ahead of schedule


    Just hope nothing breaks down/goes wrong!
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,594 Ambassador
    First Anniversary First Post Name Dropper I've been Money Tipped!
    How does the car finance deal work? Is it a balloon payment?
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Name Dropper First Post First Anniversary
    enthusiasticsaver wrote: »
    How does the car finance deal work? Is it a balloon payment?

    No, the car my partner drives at the moment is on a personal lease, the 2 year lease is up in March 2018.

    The car just gets given back, no option to keep, no balloon payments. They'll just charge us for excess mileage.

    We don't want to lease again so in March we need to buy a car. Planning on putting a few thousand in as cash and borrowing the remainder (wont be buying a brand new car, will be about 4 years old)

    I was going to get a personal loan and pay off as quick as we can.

    But Barclaycard are offering a money transfer at 0% so thinking of doing that
  • SWSEGirl
    SWSEGirl Posts: 162 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    Hi Chelseablue!

    Gradually catching up on your thread & see you're saving for a wedding :) Congratulations!

    We got married in 2015 - and managed to pay for it (almost) entirely from savings - but you've been sensible and bought a place first, unlike us!

    We did everything for our wedding ourselves pretty much (although we had no choice, getting married where we did!) Instead of a formal meal - we had picnic baskets on each table filled with picnic type foods, pork pies, hearty salads - this was far easier to serve and was a real talking point, I think people enjoyed it! Each of our family made a cake for a dessert table & the wedding cake was also pudding.

    My main wedding tips - make sure you factor in VAT where applicable, and I can honestly say that of all the weddings I've been to - it hasn't made a difference what money was spent - the people who are there make the day!
    Original Mortgage as of September 2016 = £322,999 :eek: Paid off by 2051
    Current Mortgage Balance as of September 2017 = £316,649
    Current Mortgage Balance as of May 2020 = £276,364
    Current Mortgage Balance October 2020 = £262,480
    Current Mortgage Balance December 2020 = £250,852
    Current Mortgage Balance January 2021 = £248,219
    Current Mortgage Balance February 2021 = £246,000
    Current Mortgage Balance March 2021 = £243,434
    Emergency Savings = £40,000
    S&S ISA's = £5,536
  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Name Dropper First Post First Anniversary
    Thank you :) cant believe how expensive stuff for weddings is!

    If we weren't getting married in June I'd clear both cards today

    We are currently choosing what flavours to have in the wedding cake, so getting to the good stuff now :rotfl:
  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Name Dropper First Post First Anniversary
    Direct debits gone to both cards:

    New balances are:

    Lloyds: £3,032 (looking forward to next month when this balance will start with a 2!)
    Sainsbury's: £1,217

    Its our nephews birthday over the weekend so will be going to see him tomorrow (he's going to be 8)

    Need to get him a card and gift. He's asked for a voucher for Smyths Toys so that's an easy one!
  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Name Dropper First Post First Anniversary
    Not having a good day! Seriously considering calling off the whole thing
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,594 Ambassador
    First Anniversary First Post Name Dropper I've been Money Tipped!
    Oh dear! Organising weddings is stressful. Hope you manage to resolve the problem.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Name Dropper First Post First Anniversary
    Direct debits to the cards went out yesterday, balances are now:

    Lloyds: £2,922
    Sainsbury's: £1,177

    So Lloyds is now under £3k :j

    Our mortgage fixed rate is up in March, I spoke to our broker last week and the best deal at the moment is 1.79% for 5 years.

    Will mean the monthly payment will go up by about £80
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,594 Ambassador
    First Anniversary First Post Name Dropper I've been Money Tipped!
    Well done on getting below £3k on Lloyds. Next month you will be below £4K in total if you continue with the £150 per month DDs :)

    Once your expensive year is over you might be better off overpaying the mortgage rather than directing payments to credit cards as they are 0% anyway until 2020.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards