Adventure wanted, but first we must rid ourselves of debt

AdventureWanted · 29 June 2018 at 8:39AM

Payday - hooray! I've paid £325 off CC2 which has taken the balance to £0 :j. Really pleased to have another CC gone. Need to phone up and cancel the card soon, although never sure whether to keep it open for our credit rating. The other cards balances are fairly close to their limits, so not sure if it's better to have more available unused credit...

June debt roundup

CC1 - £0
CC2 - £0
CC3 - £10,095
CC4 - £11,960

Total debt at 29/6/18 - £22,055
(Total debt at 30/5/18 - £23,305)

Next month we'll get into the £21ks, which will be another milestone crossed.

Goals for the rest of 2018.
1) Get EF to £2,500
2) Reduce debt to £18,000.

Main aim for the next few months will be increasing the EF. I think this will make me feel slightly more secure, especially as DH is self employed. Ideally I'd like the EF to be £3,800 minimum, but think at the moment this would be a challenge too far. So I'm going for baby steps!

jwil · 29 June 2018 at 12:22PM

Have a good weekend

AdventureWanted · 2 July 2018 at 6:44AM

jwil wrote: »

Have a good weekend

Thanks Jwil. Hope you had a good weekend

AdventureWanted · 2 July 2018 at 6:50AM

Today's pads

£3 to CC3
36p to debt savings
£200 to EF

EF is currently at £1,445. Only £1,005 to go to get to my 2018 target!

Rather than sending the debt savings to the variable bit of the mortgage, I might send it to the EF at the end of the month. DH is paying an extra £20 pm to the variable mortgage, so we've doubled the payment being made on it. Sooner I can get the EF higher the better.

AdventureWanted · 3 July 2018 at 8:17AM

Just finished updating ynab, so all the bank accounts & credit cards are now reconciled.

Have paid £4 to CC3 today, taking the amount paid to debts so far this year to £8,632.60. That really is an eye watering sum, especially as there is still so much to go. Going to go and redo the snowball calculator and figure out my DFD. I should be able to pay it all off by Oct 2020 when CC4s 0% ends, although ideally I'd love it gone sooner, but not sure if this is possible.

Rachel24 · 3 July 2018 at 8:38AM

£8632 is amazing :-)

abba1772 · 3 July 2018 at 9:37AM

Just finished reading your diary tookme two days

I'm also a mum of three t I don't home ed.........hats off to you it's not something I could do I love my kids but I love a bit of time away from them and they are the same

Fab amounts on the debt repayment front your smashing your target

I'll be subscribing to your diary xx

AdventureWanted · 4 July 2018 at 7:34AM

Rachel24 wrote: »

£8632 is amazing :-)

Thank you

AdventureWanted · 4 July 2018 at 7:35AM

abba1772 wrote: »

Just finished reading your diary tookme two days

I'm also a mum of three t I don't home ed.........hats off to you it's not something I could do I love my kids but I love a bit of time away from them and they are the same

Fab amounts on the debt repayment front your smashing your target

I'll be subscribing to your diary xx

Hi,
Thanks for popping by. I'm sure my diary is highly boring and full of whinging, but it's nice to have people along for the ride

.

AdventureWanted · 4 July 2018 at 7:50AM

So yesterday I started the mammoth job of sorting through the clothes the DC have outgrown. I had started to just bag everything up in vacuum bags ready to put in the loft, but my mum popped round and was so horrified at the amount of stuff I had (her exact words were how many clothes does 1 child need. You only have 1 child not twins!!), that I've reduced the amount I'm keeping and only keeping my favourite outfits. I still feel weird getting rid of so many clothes, as IF we decided to have more kids (it's a big IF at the moment, as DC3 is still young and sleeps terribly!) I would have to buy loads of new bits. Again my mum said that I'd most probably buy new bits anyway and others would too, so again I definitely can see her logic.

So far I have 2 huge bin bags full of clothes to bundle up and sell. In all reality I'd most probably only get £30 for it all, but still I guess it's extra money. It's actually quite satisfying sorting through the stuff and not keeping as much. Hopefully today I can get some more done and my bedroom will start to look slightly less cluttered. They say that it's important that your bedroom should be tranquil and clear of clutter, but at ours it's the most cluttered, as we have the floor space to store stuff. Really looking forward to the day when the house is clearer, cleaning won't take as long and hopefully I'll feel happier living here. I tend to swing wildly between wanting to move to a bigger house which would be able to hold all our stuff and being content with the familiarity of our house/village.

Money wise, I've rounded down the bank accounts sending £2 to CC3 and 9p to debt savings.

Adventure wanted, but first we must rid ourselves of debt

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free