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  • FIRST POST
    • lilian1977
    • By lilian1977 10th Aug 16, 2:20 PM
    • 4,656Posts
    • 18,375Thanks
    lilian1977
    One Year Plan and Ten Year Plan
    • #1
    • 10th Aug 16, 2:20 PM
    One Year Plan and Ten Year Plan 10th Aug 16 at 2:20 PM
    Hi all

    I have an existing diary but have decided on a new challenge for myself so I am posting a new thread, I hope you'll all cheer me on

    I turned 39 last week and currently have 4348.43 of unsecured debt (on two credit cards) and a mortgage of around 48,000 that I share with my DH. I will also need to add 1000ish to my debt in December when I have to buy my annual train pass.

    So, I have decided to set myself two targets. I would like to be unsecured-debt free by the time I am 40 and have our mortgage paid off by the time my DH is 50 (in 10 years time).

    Here's how I plan to do it. We currently overpay our mortgage by 110 a month - I would like to up this but will need to do it gradually so it's not a big difference to our monthly available money. I am waiting to see what new mortgage deals come out now that the base rate has fallen, then will decide whether it is worth paying the ERC and any new fee to move to a lower rate on a 10 year fix (with the intention that the mortgage will be clear at the end of this). As for my personal debt, I am currently Music Magpieing all the CDs I can as well as Ebaying clutter from around the house. I am also not using my credit cards at all and have cut the food budget drastically by insisting on shopping from our stores first. I am no stranger to moneysaving, but now need to step it up even more.

    So, I plan to post here as and when I've made some progress and it would be nice to have some followers

    Thanks for reading xx


    My debt free diary
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Page 2
    • Dolly Rocker
    • By Dolly Rocker 23rd Aug 16, 8:23 AM
    • 3,857 Posts
    • 11,026 Thanks
    Dolly Rocker
    That's a a great idea, means that you don't need to worry about that expense later in the year.

    Ah I am so jealous! We went on holiday in April this year & feels like a lifetime ago already.

    Dxxx
    CWP Goal Weight 21lbs/91lbs
    Debt Free Wannabee 2,840.31/6,649.97
    3-6 Month EF, 140/7,000
    2nd July 2018 - I have 3 Nationwide Referrals available, PM me if you want 100 to switch accounts
    • lilian1977
    • By lilian1977 23rd Aug 16, 9:24 AM
    • 4,656 Posts
    • 18,375 Thanks
    lilian1977
    Hello!
    Have you tried ziffit and we buy books? They are like music magpie but fairer and better prices. Plus you can usually get a 10% extra code. Be ruthless! You can listen to anything for free. Plus they take books and computer games.
    Also have considered moving your banking to halifax? 5 a month for free to pay to mortgage. Plus 100 upfront!
    I think you have inspired me for a new challenge. Good luck xx
    Originally posted by Kitten868
    Hi - I'm actually already with Halifax but thanks

    We Buy Books - they don't want any of mine, bah humbug!


    My debt free diary
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    • Kitten868
    • By Kitten868 23rd Aug 16, 9:49 PM
    • 928 Posts
    • 1,986 Thanks
    Kitten868
    You're one step ahead! X
    Loan 1 5800/8000
    Loan 2 3800/5800
    Total 9600/13800 30% PAID
    • Misty Blue
    • By Misty Blue 24th Aug 16, 12:45 AM
    • 851 Posts
    • 2,538 Thanks
    Misty Blue
    Just a thought about the gym. I bought a gym-standard treadmill for my spare room, and it costs me 16.99 a month, interest free. It means I don't have to motivate myself to get ready for the gym and leave the house. I just have to commute upstairs. We were paying 80 a month for a joint gym membership, and OH is a teacher who can do his weight sessions in the school gym, so it made sense for us. I can see how it wouldn't for everyone, though, especially as it would mean adding to debt in the shorter term.
    • monz
    • By monz 24th Aug 16, 9:26 AM
    • 3,234 Posts
    • 10,506 Thanks
    monz
    Every penny helps to that 0.19p is better in your purse than lying on the ground.

    I'm waiting on a refund for something too Good for you getting a wee freebie & muesli is expensive.

    Do you not have pure gym or the gym near you, they are all over Glasgow & have memberships for like 10.00 or 15.00 maybe look into that.

    Dxxx
    Originally posted by Dolly Rocker
    Dolly Rocker. I am in Glasgow where are these pure gyms lol xx
    Debt (1/9/14) 6,702.11 Debt free (30/11/2016)
    house pot for bobs after fees : 169.41
    car PCP - 628.97/11848.25 (0 overpayment) mum and dad 500/4,000
    boys bday 0/300 Christmas - 0/500
    • Dolly Rocker
    • By Dolly Rocker 24th Aug 16, 10:28 AM
    • 3,857 Posts
    • 11,026 Thanks
    Dolly Rocker
    I know they just opened one a wee whiile ago on Hope st for 14.99 a month.

    Dxxx
    CWP Goal Weight 21lbs/91lbs
    Debt Free Wannabee 2,840.31/6,649.97
    3-6 Month EF, 140/7,000
    2nd July 2018 - I have 3 Nationwide Referrals available, PM me if you want 100 to switch accounts
    • monz
    • By monz 24th Aug 16, 11:20 AM
    • 3,234 Posts
    • 10,506 Thanks
    monz
    Thanks! Hope Street is too in town for me lol saw Hamilton but still, keep doing my insanity DVDs at home free right now lol xx
    Debt (1/9/14) 6,702.11 Debt free (30/11/2016)
    house pot for bobs after fees : 169.41
    car PCP - 628.97/11848.25 (0 overpayment) mum and dad 500/4,000
    boys bday 0/300 Christmas - 0/500
    • Dolly Rocker
    • By Dolly Rocker 24th Aug 16, 11:43 AM
    • 3,857 Posts
    • 11,026 Thanks
    Dolly Rocker
    Ah right, keep an eye out they are popping up all over the place.

    Dxxx
    CWP Goal Weight 21lbs/91lbs
    Debt Free Wannabee 2,840.31/6,649.97
    3-6 Month EF, 140/7,000
    2nd July 2018 - I have 3 Nationwide Referrals available, PM me if you want 100 to switch accounts
    • lilian1977
    • By lilian1977 24th Aug 16, 12:00 PM
    • 4,656 Posts
    • 18,375 Thanks
    lilian1977
    Just a thought about the gym. I bought a gym-standard treadmill for my spare room, and it costs me 16.99 a month, interest free. It means I don't have to motivate myself to get ready for the gym and leave the house. I just have to commute upstairs. We were paying 80 a month for a joint gym membership, and OH is a teacher who can do his weight sessions in the school gym, so it made sense for us. I can see how it wouldn't for everyone, though, especially as it would mean adding to debt in the shorter term.
    Originally posted by Misty Blue
    That's how much my membership now costs me - I don't have much time at home really as I work 28 hours a week and the rest of the time is valuable family time. The money spent is worth it to me as it stops me wandering around the shops at lunchtimes Thank you for the idea and the comment though xxx


    My debt free diary
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    • lilian1977
    • By lilian1977 6th Jun 17, 2:27 PM
    • 4,656 Posts
    • 18,375 Thanks
    lilian1977
    Oh for goodness sake, I've just rediscovered my diary and have made little progress. I am 40 in 2 months and still have 4100 of credit card debt 10 months later GRRRR. I have however reduced my mortgage from 48k to 42k and am estimating 7 years left IF we can stay on the same or similar rate and can continue to overpay at this level.

    I have GOT to sort things out. Trying to have a very frugal month this month. How is everyone? Anyone still following me?!


    My debt free diary
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    • lilian1977
    • By lilian1977 24th Jul 17, 4:01 PM
    • 4,656 Posts
    • 18,375 Thanks
    lilian1977
    Got my CC debt down another 500 so 3600 now. Still chipping away.

    I have to buy a new train pass in December though which will be close to a grand, ugh.


    My debt free diary
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    • lilian1977
    • By lilian1977 6th Sep 17, 12:00 PM
    • 4,656 Posts
    • 18,375 Thanks
    lilian1977
    Hi all again

    I'm back from holiday and am now 40, ugh! Credit card balance now 3400 so still chipping away, but have managed to arrange some freelance work which I'm hoping will pay for the train pass I need to buy in December, so that will help in terms of not increasing my debt.

    I have about 35 fun money plus 55 food money until I get paid on 22nd September so am really trying to budget well for the next couple of weeks so that I don't have to touch any savings; then come September's pay day I'm a lot better off but am going to continue to be frugal as we are off on holiday again on 23rd October.

    Hope everyone is well xx


    My debt free diary
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    • lilian1977
    • By lilian1977 26th Sep 17, 10:41 AM
    • 4,656 Posts
    • 18,375 Thanks
    lilian1977
    I'm so pleased - I've just invoiced my first freelance client and now have half my annual train pass cost put away already! I'm invoicing another on Monday and then again on 1st November, so once I've been paid both of those I will have enough to pay for it outright! It's just shy of a grand so it's amazing!

    I do need to dig out my self-assessment number from when I was an Avon seller so that I can keep on top of my tax - mental note to do that tonight.

    I managed to get to payday last month without too much trouble, although I did bolster my funds with Pinecone/Copify etc. I'm in a similar situation to last month though which I didn't expect and we're off to Butlins at the end of this month so I really want to try and keep to my budget.


    My debt free diary
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