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  • FIRST POST
    • muppets
    • By muppets 22nd Aug 14, 10:55 AM
    • 987Posts
    • 6,311Thanks
    muppets
    Making a move on debt
    • #1
    • 22nd Aug 14, 10:55 AM
    Making a move on debt 22nd Aug 14 at 10:55 AM
    I have finally decided after a number of years of being on this site to start my own diary. A few things have happened in the past few days which have given me the kick up the backside to help clear (some of ) my debts.
    1. Some money that I was owed has been promised to be paid back in the next month or 2
    2. I found out that at the end of the year I could be losing some hours in work, which could mean having to cut rightback on most things.

    I have been in debt on and off for the last 18 years of my life, finally after having enough of the debt I decided that most of the reason for my debt was my ex, while he wasnt the only reason for the debt he was the most cause of it. I finally decided that 2 things needed to happen, (1) was to finally stop getting further into debt and start clearing some of it, and (2) was the ex had to go, the only problem with this was I also lost my job as I had to move away as my ex would have just cause me stress and pain if I had stayed around, so I moved in with some family and started to clear the debt. I vowed to never get into debt again!

    I was able to arrange a payment plan to pay off my creditors, I had about 13 at the time and debts of 20,000 all in my name but run up by both me and the ex.

    In the meantime I met my OH and decided to move to be with him, we lived in a shared house for a few years I got myself part time work and we saved like crazy to move into our own place. I was still paying my debts and managed to get full and finals on a few of the debts saving me even more money to pay off the other debts.


    Last year we needed to rent a vehicle and had to pay the deposit by credit card, I had to bite the bullet and get the credit card just for this one deposit, we now use the CC a few times a month just to pay for online things from Amazon and iTunes, but make sure the CC is cleared each month.

    I was lucky enough to get full time work within the same company, so we decided to buy our own home, we spoke to the bank who told us we could get a mortgage for 100% of the cost of the house we wanted to buy, we also had to pay solicitors fees and registraion costs for the property which was 5% of the cost of the house. We were able to get a loan for some of these costs but were told by the solicitors the day before we signed the final papers for the house that we had to pay 10% registrations cost instead of 5%, and that after a year or so we would get approx 10 % of the registraion costs back, immediate panic set in as we would need another 5,000 to cover this extra cost, or lose the deposit we had already paid, glad to say bank of mum and dad came to the rescue.

    We signed the final papers for our house a year ago, and have just been paying the monthly amount on both the loan and the mortgage for the last year, in the meantime we have saved for all the yearly costs for the house and to run a car and are able to pay them when they are due without getting into anymore debt or adding it to the CC.

    At the start our joint debts were inc interest
    Mortgage - 249,480.00 euros Now - 240,700.19
    Loan - 7,015.07 euros Now - 4,486.38
    Bank of mum n dad - 15,000.00 euros Now - 15,000.00

    The main aim is to pay these debts of 1st and then pay the UK debts. The UK debts are still being paid but i'm in no rush to pay these are they all have interest frozen and the creditors still seem happy with the payment plan that was set up a few years ago.

    UK debts back in Aug 2009 were:
    20,155.54 and now are 12,666.47

    The UK debts are being paid off at a very very small amount each month, while I will pay back these debts eventually I see no reason to rush to pay them when I am paying interest on my other debts.

    If you haven’t already, join the forum to reply!
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    Last edited by Former MSE Jessica; 11-04-2017 at 1:59 PM.
Page 1
    • muppets
    • By muppets 23rd Aug 14, 6:46 PM
    • 987 Posts
    • 6,311 Thanks
    muppets
    • #2
    • 23rd Aug 14, 6:46 PM
    • #2
    • 23rd Aug 14, 6:46 PM
    Cycled to work most days this week for both the morning and evening shifts saving myself approx 15 so I have transferred that over to my overpayments pot and will pay that off in the next week or so, hoping to cycle to work again next week so will be able to save the same amount again next week.

    Checked the bank account this evening and seen that both OH and my life insurances have come out of the bank yesterday a total of just over 500, hated seeing such a big amount coming out of the bank in one go but at least it has now been paid for the year.
    • muppets
    • By muppets 27th Aug 14, 2:38 PM
    • 987 Posts
    • 6,311 Thanks
    muppets
    • #3
    • 27th Aug 14, 2:38 PM
    • #3
    • 27th Aug 14, 2:38 PM
    Been a spendy few days, some was budgeted for some not, need to get it back under control. Was hoping to cycle to work again this week but it has been wet for the last few days, today is the 1st dry day this week but need to take a few bits with me to work and would be too much to bring on the bike.
    • muppets
    • By muppets 28th Aug 14, 8:31 PM
    • 987 Posts
    • 6,311 Thanks
    muppets
    • #4
    • 28th Aug 14, 8:31 PM
    • #4
    • 28th Aug 14, 8:31 PM
    LSD today, needed to buy a few items for lunch total spend 10€.

    Work has been really tiring the last few weeks as my hours has shifted around, can't wait till next week when my hours return to normal, the total hours have been the same just finishing later in the evenings and then still having to be in work early, so have not been getting enough sleep and then waking up grumpy, have been napping in the day having about 2 or 2 1/2 hours nap each day which has helped slightly.

    Off to bed now as have to be in work again at 6am
    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • NoOneAround
    • By NoOneAround 28th Aug 14, 8:53 PM
    • 1,791 Posts
    • 8,810 Thanks
    NoOneAround
    • #5
    • 28th Aug 14, 8:53 PM
    • #5
    • 28th Aug 14, 8:53 PM
    Good Luck Muppets,
    I just started my diary yesterday and already have had lots of positive suggestions and encouragement, spurs you on
    • muppets
    • By muppets 29th Aug 14, 8:55 AM
    • 987 Posts
    • 6,311 Thanks
    muppets
    • #6
    • 29th Aug 14, 8:55 AM
    • #6
    • 29th Aug 14, 8:55 AM
    A small payment of 6 made to the UK debts. Slowly moving in the right direction. Still wanting to concentrate on my europe debts as these are the ones that I am paying interest on.
    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 30th Aug 14, 9:23 PM
    • 987 Posts
    • 6,311 Thanks
    muppets
    • #7
    • 30th Aug 14, 9:23 PM
    • #7
    • 30th Aug 14, 9:23 PM
    Yesterday in was a long day, started work at 6.am and was finished and back home by 10am. OH had an appointment which was over an hours drive away, we left earlier then needed to and stopped by the outlaws on the way past, appointment lasted much longer then it should have . Got back home with no time for dinner so a quick sandwich was all we had at about 4.30pm, rushed off to work and didnt finish till 10.15pm by this time we were both too tired to cook so grabbed a McDonalds. As soon as we got home we had a quick coffee then went to bed. had to be back up again for work at 5am, not sure how I managed to work this morning I was so tired. A nap was needed by us both, we had time for dinner then it was back to work again So glad this week is over.
    One load of washing got done as soon as we got home tonight from work and will have another to do tomorrow.

    Apart from the McD's yesterday no other money was spent and today we managed a NSD
    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 31st Aug 14, 8:30 PM
    • 987 Posts
    • 6,311 Thanks
    muppets
    • #8
    • 31st Aug 14, 8:30 PM
    • #8
    • 31st Aug 14, 8:30 PM
    Another LSD today as OH needed some smokes, why he didn't get them when we were out yesterday i'll never know, we went on the bikes so at least we saved some money on petrol there.
    Tomorrow we return to normal with our work schedule, wont be easy working longer hours again in the morning, but will be so much better working less hours in the evenings and we get back our 2 afternoons off work a week. Mondays is always our longest days of the week so will be good to get tomorrow over and done with.

    Still waiting on the money that we are due back, we had to pay it out quick enough but have to wait over a year to get some of it back.

    Hoping that the tax office sorts out the taxes, we have some of the taxes taken out of our wages each month, and then at the end of the tax year we have to submit our taxes and then have to pay within a month of them telling us what we have to pay etc, have the money in the account waiting to pay them, just waiting for them to confirm if the taxes we done online was correct the amount.
    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 2nd Sep 14, 2:12 PM
    • 987 Posts
    • 6,311 Thanks
    muppets
    • #9
    • 2nd Sep 14, 2:12 PM
    • #9
    • 2nd Sep 14, 2:12 PM
    My mortgage payment went out of the bank yesterday of 840.72

    A small payment of 5 paid to my UK debs today.

    Still waiting for some money that I am due back, have already planned how I will use the money once it arrives in the bank account, some of it will be used to pay some money back to the Bank of Mom 'N' Dad and the rest will go towards my loan.

    Have added 49.50 left over from last months food shopping to my overpayments pot and will pay that off the loan when the above money comes it. In total manage to add 65 last month to the pot and so far the 49.50 from this month meaning I have 164.50 waiting to be overpaid to the loan.

    So far been a NSD and hoping to keep it that way.
    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • Kitty777
    • By Kitty777 2nd Sep 14, 4:34 PM
    • 437 Posts
    • 415 Thanks
    Kitty777
    Goodluck

    I need to cut back on petrol too since my partner has come home from work for a bit...gone from 25 a month to 50 a month
    • muppets
    • By muppets 3rd Sep 14, 7:22 PM
    • 987 Posts
    • 6,311 Thanks
    muppets
    Managed a NSD today
    Need to do the monthly shopping this week, we have enough food in till saturday, don't really feel like doing the shopping but needs must, at least when it's done thats the main shop done for the month.
    I think there is enough cat food for approx 2 weeks so undecided about going to the pet stop, maybe it would be worth getting the cat food this week as it's a few shops away from Aldi and can combine the 2 together, then it's only the main shopping left to do.

    Cycled to work this evening as the weather is still good, saving myself about 2.06 in petrol so I have added that to the loan overpayment pot.

    Going to have a look round the boards then might have an early night.
    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 4th Sep 14, 7:58 PM
    • 987 Posts
    • 6,311 Thanks
    muppets
    Monthly shop done for the main items, still need to get to Aldi and the petshop for cat food. Used up some vouchers and and bought some yellow stickered items saving 11.76 so I have added that to the overpayments pot.

    I have been using YNAB for the trial period and it was up today so I have paid for that, that has come out of my treats money for the month. Took ages for it to finally sync between my laptop and phone, got there in the end

    Been paid today and according to YNAB I have some money left over to budget with, need to wait for my payslip to get here in the next few days and see how much I need to put towards to taxes, if there is any money left over then I will add that to savings.
    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 5th Sep 14, 3:20 PM
    • 987 Posts
    • 6,311 Thanks
    muppets
    Finally had the money we have been waiting for, only been a year waiting

    When we needed to borrow some extra money towards the registration costs for the house etc, bank of mom'n'dad helped us out with this on the agreement that as soon as we had this money back we would pay them the 5000 straight back, need to get OH to bank transfer this money to them after work. the rest of the money I would like to use to pay of some of the loan we have, OH wants to use it for other things.

    Need him to phone the bank tomorrow and see about overpaying some of this loan off before the money dissapears.
    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 5th Sep 14, 7:52 PM
    • 987 Posts
    • 6,311 Thanks
    muppets
    5000 euros paid back to bank of mom'n'dad, so pleased to get that paid back to them, while they were ok with having to wait so long, I was stressing to get the refund so I could pay this straight back to them. Happy to have this paid
    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 7th Sep 14, 3:49 PM
    • 987 Posts
    • 6,311 Thanks
    muppets
    Managed to get a few things done today,

    - Got the washing done, and it's now drying on the racks.

    - Cycled to the shop as OH wanted to get a free crate of drink which we had vouchers for, if we didn't get while he remembered we would have forgotten and then the voucher would have expired.

    - On the way to the shop we posted our receipts to claim back from OH's dentist this week and from my doctors appointment a week ago.

    - Made chicken curry and rice for dinner, made enough curry for another 2 dinners and made a portion of sweet and sour, which have gone in the freeze, so thats 3 dinners less to cook.

    - Made shephards pie for tomorrows dinner with enough over to freeze for another time.

    Also managed a short walk into town, didn't take any money with me so couldn't spend any

    OH sent an email to the bank asking them to call us to make an appointment about overpaying a chunk off the loan, hoping we can get an appointment on Tuesday afternoon.
    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 9th Sep 14, 1:46 PM
    • 987 Posts
    • 6,311 Thanks
    muppets
    Yesterday I cycled to work in the evening , trying to cycle as much as I can while it's still warm and dry. Saved myself 1.10 in petol by cycling. Work pays travel money for travelling to and from work, would get more money if I told work I was cycling, only problem with this is, I would have to notify them in advance and stick to the correct days of cycling or going by car. By not telling them seems easier.

    OH and I went to the bank today, we owed 3917 on the loan as of today, with the left over money we had from the refund (2250) we used all that to pay off almost all the loan, there is just the usual payment to come out this month then it will all be paid. I had to use some of my tax money that won't need to be paid till this time next year to clear the remaining loan, saving us 516 in interest. The money I would be using each month to pay the loan I will just pay myself back the tax money I had saved, should be able to clear this by April, also any money I am able to save that would have gone to the loan will now also be used to pay back the tax, meaning I can pay back myself quicker.
    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 13th Sep 14, 11:37 AM
    • 987 Posts
    • 6,311 Thanks
    muppets
    Been a tough few days in work, will be glad when this afternoons shift is over.
    Finally be to Aldi, spend 39.00 for this month, we usually only get butter chip oil and drinks from Aldi as they as cheaper there then the other supermarkets here. All the main shopping done for the month now, only top up shopping will be needed so hoping we don't need to spend too much more this month.

    Had my confirmed tax bill for 2013-2014, paid a lot out through my wages each month so happy that I didn't have to pay too much more, I had saved more then enough for it though so hoping to just save the rest of the money. Still waiting for OH's confirmed tax bill.
    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 14th Sep 14, 11:37 AM
    • 987 Posts
    • 6,311 Thanks
    muppets
    OH's dad called over today to check that the heating was working, he had to remove a radiator and the boiler and then put them back while he was doing some work on a wall in the house. He just wanted to check that it was working proper then if not we could have got it fixed in time for when we want to use the heating, hopefully that won't be until Oct.

    Sweet and sour chicken with rice and chips for dinner, the sweet and sour came out of the freezer.

    OH asked his dad today about some money that we owed him from when we bought our house, his dad told us to forget paying the money back and to think of it as an advance from his inheritance, which means that our debt has been reduced by 10,000.

    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 16th Sep 14, 2:17 PM
    • 987 Posts
    • 6,311 Thanks
    muppets
    Last of the loan payments went out yesterday just waiting for it to show on the bank system now.
    As from next month the loan payments will now be used to pay myself back the money I borrowed from my next years taxes. Should be paid back in a few months Also any overpayments that would have gone to the loan will also go to my taxes to get them back up as quick as possible.

    Cycled to work this morning only had to be in 2 locations today saving myself petrol money of 2.48 , this has been transferred to my overpayments category on YNAB.
    PAYDBX 2019 - #01 Pd 10,252.12 / 17,000 - 60.31%
    SPC12 #59
    MFiT-T5 #36
    3-6 mth EF #5
    2,445 / 11,100
    Mortgage - PD 100,861.55/ 271,495.07 37.15% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • monz
    • By monz 16th Sep 14, 2:37 PM
    • 3,598 Posts
    • 12,401 Thanks
    monz
    Well done!!!! x
    Debt (1/9/14) 6,702.11 Debt free (30/11/2016) mum and dad 4,000/4,000
    car PCP - 2,389.86/11,848.25 mortgage - 80,480 o/s currently - paid 5,115.52 (150.98 overpayment)
    Emergency Fund - 500
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