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  • FIRST POST
    • Silver Queen
    • By Silver Queen 24th May 17, 3:16 PM
    • 370Posts
    • 1,751Thanks
    Silver Queen
    £15,000 to 0
    • #1
    • 24th May 17, 3:16 PM
    £15,000 to 0 24th May 17 at 3:16 PM
    Hi

    I have decided to re-join this forum so that I can stay motivated to bust my debt.

    A bit about me...I work full-time in London which gets me about £1.4k per month.

    I owe £15,000 exactly on 0% interest. This is £13,500 to bank of ma and pa (started at £15,500 in October), which paid for my postgrad, and £2k of student overdraft.

    I pay £250 per month to my parents but I would like to start making overpayments.

    Frankly, until now, I have not really even thought about my student overdraft because it's on 0%. However, in June or July (not sure which - oops), it will reduce by £1k so I will need to pay it back ASAP.

    I live at home at the moment, although I will be moving out in September.

    My monthly expenses are food and £350-ish on a train ticket since I commute into London daily. I also pay £200 per month into a help to buy.

    Goals
    1. Pay back £1k into my overdraft by end of July, whilst continuing to make £250 repayments monthly.
    2. Save a £1k moving fund. I am trying to declutter and become more minimalist so that I don't have so much stuff to move, but there will be general moving expenses.
    3. This one is a bit ambitious - I would like to try to pay back all the monies owed to my parents by next year. The current agreement is that I would keep paying them £250 pa until 2021 but I really really don't want to do that, because...
    4. This one is long-term. Save £20k by 2021 so that I can be on my way to putting down a deposit for a house.


    I have started this diary because although I have been on the debt free journey for about three/four months, I have been noticing myself slipping lately, so hopefully this will hold me accountable!
    Last edited by Silver Queen; 27-02-2018 at 10:00 AM. Reason: incorrect loan balances!
Page 11
    • lonelyrat
    • By lonelyrat 7th May 18, 9:30 AM
    • 263 Posts
    • 639 Thanks
    lonelyrat
    Get that bullet journal out Hope you had fun with your friend if you still saw her?

    Very crummy news about the bed bugs... It's making my skin crawl just thinking about it! Yay to Hampton Court Palace though. I remember going there when I was a kid and getting very concerned that I was lost in the maze. I love a picnic so much... I just love anything sun - related really I think! We attempted a barbecue yesterday and OH burnt one side of all the food (then dropped my sweetcorn in the dirt) A picnic may have been more sensible!

    I think step counters on phones aren't that accurate. I'm about to go on a walk and I'll take my phone and do a wee experiment. We'll see how the phone vs. the fitbit differ 8,000 steps regardless is good anyway. I'm quite happy if I get over 5,000 most days...

    Try not to beat yourself up about the stress eating, it happens and you've had a pretty stressful experience re: bed bugs! I'm using myfitnesspal at the moment and it's quite helpful with watching calories. I'm up at my heaviest at the moment as well, but I try and keep telling myself that anything is changeable.
    Total Debt: 1125 / 7266.93
    Outstanding Debt: Santander CC 450 - Virgin CC 675
    Weight Loss: 7.1kg/ 38kg
    • Silver Queen
    • By Silver Queen 7th May 18, 10:48 AM
    • 370 Posts
    • 1,751 Thanks
    Silver Queen
    Will definitely be making a complaint about the mattress topper and I'm going to try to get them to cover the cost of the treatment too.

    I didn't end up seeing my friend yesterday as we had to stay in and wait for the pest guy, who was of course four hours late...! So I'll see the friend during the week instead.

    Lonelyrat, I used myfitnesspal for a while and it did help, I just need to get back on the exercise and weight loss wagon again. Bit depressing to think that this time last year I was over 10kg lighter. None of my clothes fit properly anymore

    Going to take a walk down the Thames today away from the city. Never been that way so it should be nice to explore!
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • Silver Queen
    • By Silver Queen 7th May 18, 6:32 PM
    • 370 Posts
    • 1,751 Thanks
    Silver Queen
    Managed 20,600 steps! We walked out 9 miles over the course of the afternoon and then took the train back which depressingly only took 12 minutes

    Annoyingly forgot my Oyster card so had to pay for the train using my contactless. Also spent about £4-£5 on drinks and some snacks as we had none in the house. Total spend still under a tenner though.

    Went over my original calorie limit today (1200) at 1397 which I'm not too bothered about because a) it doesn't take into account the exercise I did and b) it's the first official day of calorie counting and I always try to taper off for the first week or two. Can you tell I've been here before?!

    Weather is glorious, dinner is cooking, just a shame that the long weekend is over.

    Need to remember to reclaim some money from my sis for the bed bug treatment!
    Might have a cheeky little glass of wine as I feel like I deserve it.... I'll think about it
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • Treadingonplaymobil
    • By Treadingonplaymobil 7th May 18, 9:22 PM
    • 1,576 Posts
    • 15,297 Thanks
    Treadingonplaymobil
    Smiling at the 20k steps vs 12 minutes train! We did what felt like a decent walk today (well, for the just-four-year old anyway) and I am slightly peeved to see I have only done 5,000 steps. It feels like a lot more when you walk at preschooler speed.

    Hope you have some joy with the mattress complaint.
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017: £38,608 unsecured debt/£20,000 parental loan/£173,282 mortgage = £231,890
    debt on 13th May 2018: £13,648.58 unsecured debt/£20,000 parental loan/£192,680.11 mortgage = £226,328.69
    • EssexHebridean
    • By EssexHebridean 8th May 18, 12:28 PM
    • 8,676 Posts
    • 45,729 Thanks
    EssexHebridean
    Annoying how little time a train can take over the time it's taken to walk somewhere isn't it!

    Good luck on the calorie counting - I use the FitBit app to keep track of mine on Mondays - Thursdays and the weekends can do what they like, I try to deficit by about 400 - 500 calories on the weekdays and that seems to work OK to let me maintain my weight about right.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£944.19 (15/05/18)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • Silver Queen
    • By Silver Queen 8th May 18, 3:42 PM
    • 370 Posts
    • 1,751 Thanks
    Silver Queen
    Smiling at the 20k steps vs 12 minutes train! We did what felt like a decent walk today (well, for the just-four-year old anyway) and I am slightly peeved to see I have only done 5,000 steps. It feels like a lot more when you walk at preschooler speed.

    Hope you have some joy with the mattress complaint.
    Originally posted by Treadingonplaymobil
    I had that on Sunday. Really frustrating when you feel like you've done loads of walking but it's actually practically nothing. I bet it's even harder with you when you have a little one in tow!



    Annoying how little time a train can take over the time it's taken to walk somewhere isn't it!

    Good luck on the calorie counting - I use the FitBit app to keep track of mine on Mondays - Thursdays and the weekends can do what they like, I try to deficit by about 400 - 500 calories on the weekdays and that seems to work OK to let me maintain my weight about right.
    Originally posted by EssexHebridean
    Thanks. Keeping an eye on things will hopefully both help my waistline and my bank balance! That's a really good idea, I find I always let myself go a little on weekends too!



    Feeling a bit tired today. I have ENT issues stemming from a surgery I had a few years ago so whenever I get colds it really messes up my hearing etc. At the moment feeling like I'm in a swimming pool under water all the time even though I don't think I'm actually ill.

    Lonelyrat will be happy to hear that I finally dug out my bullet journal and will be making use of it

    I feel as though I'm stumbling back and forth when it comes to balancing work/social life/financial matters. I think because for a while work was so intense, I felt like I had no social life so whenever I socialised I splashed out. Then I went the other way and got so scared of spending that I never socialised. It's a case of finding a happy balance.

    I've been looking around on Rightmove and have found an absolutely perfect property that I would love to buy. It's a reasonable price, reasonable size and good location. The problems are, however, that a) I don't earn enough b) I don't have a deposit! I feel as though this is the perpetual problem of the millennial. Wanting to buy but also wanting to have nice things, spend money and have fun.

    Anyway, I just have to remember that my overarching goal is to buy before I'm 30 and I think I will be on track to do that.
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • lonelyrat
    • By lonelyrat 9th May 18, 8:56 PM
    • 263 Posts
    • 639 Thanks
    lonelyrat
    Good news on the steps and very good news on the bullet journal haha!

    Glad you're back on myfitnesspal too - we can both use it and try and get our steps in and check in with one another for motivation. My aim is under 1260 a day and I seem to be managing OK however I did go big when I was out with my friend yesterday so have decided just to write the whole day off Have done well to make up for it and am just hoping the scales on Saturday are kind to me.

    I do think you're right that watching what you eat goes hand in hand with saving money so hopefully it will be reflected in our bank balances (ASAP ideally )

    I do think you have time to sort a deposit before 30. It does seem like a massive mountain to me sometimes... I think it's a case of making savings where you can and they add up. I'm still finding it hard to manage paying off the debt, having enough to treat myself now and again AND putting some into savings. It's all about balance but balance seems so hard to get right!

    I do go on rightmove quite a lot just to have a look at potential homes to try and keep me motivated (sometimes it can have the opposite effect though). We'll get there in the end...
    Total Debt: 1125 / 7266.93
    Outstanding Debt: Santander CC 450 - Virgin CC 675
    Weight Loss: 7.1kg/ 38kg
    • lonelyrat
    • By lonelyrat 9th May 18, 9:03 PM
    • 263 Posts
    • 639 Thanks
    lonelyrat
    Just on the property note... I read recently that apparently us millennials don't actually need living rooms and we're better off with a ďa small, clean, private hotel-room sized central patch". How ridiculous is that? Apparently the reason a fair chunk of us can't get on the property ladder is down to properties being too big? That and that we eat too much avocado (but that's a different news article entirely )
    Total Debt: 1125 / 7266.93
    Outstanding Debt: Santander CC 450 - Virgin CC 675
    Weight Loss: 7.1kg/ 38kg
    • Silver Queen
    • By Silver Queen 10th May 18, 8:32 AM
    • 370 Posts
    • 1,751 Thanks
    Silver Queen
    Feeling a bit bleugh today, fell asleep at 9.30! Absolutely exhausted still so I think I must be getting ill.

    Lonelyrat, *technically* I'm trying to stick to 1200 cal but realistically right now my daily count is around 1500 which I'm not too annoyed about. I'll reduce it slowly if necessary but I won't be too annoyed if it takes a little longer to lose weight, as 1500 seems sustainable to me right now.

    My average daily step count for the last two days has been 5,000 this is why I need to do more walking on the weekends, because I do hardly any on weekdays. My aim is 70,000 per week rather than 10,000 per day because of this so realistically I have to do around 21,500 per day on the weekends!

    I hate the view that the older generation often have about us millennials.... but I also find most millennials absolutely insufferable there is definitely a major housing problem in this country but at the same time I do think that many millennials use it as an excuse not to work hard, which I think is silly. Or alternatively, they buy a house with a hand out of £50k from Mum and Dad and then write articles bragging about how they bought a house at 21, which I also find infuriating! I personally think people like that give us millennials a bad name.
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • lonelyrat
    • By lonelyrat 10th May 18, 1:59 PM
    • 263 Posts
    • 639 Thanks
    lonelyrat
    1500 is still good, especially if it feel sustainable. I know I've definitely tried to diet before and restricted myself so much it hasn't lasted so was just pointless. Also that's a lot of steps on the weekend... I think I'd be needing rolled into work on Monday haha! I'm only managing to get mine in because I'm part time now - if I was full time I definitely wouldn't be managing.

    I only have two friends who who have bought their own homes and both of them have done it as their parents have gifted them the deposits. It's lovely for them but it does seem like they have a false sense of pride over what they've "achieved". It's going to be hard work but we'll both get there and it will be super sweet because we'll have earned it. First thing first, debt busting! I'm hoping once I get the debt paid off I'll manage to keep the same motivation and build up savings at the same pace.
    Total Debt: 1125 / 7266.93
    Outstanding Debt: Santander CC 450 - Virgin CC 675
    Weight Loss: 7.1kg/ 38kg
    • Silver Queen
    • By Silver Queen 10th May 18, 2:39 PM
    • 370 Posts
    • 1,751 Thanks
    Silver Queen
    I've actually made a potentially crazy decision to - gasp - just let the loan from my parents (which is my only debt outstanding) tick on. It's £10,250 at the moment and I'm paying £250 per month. I'm going to carry on paying the standing order amount of £250 per month and save money on the side for a deposit. If my mum has another wobbly a la the one she had over Christmas, I can then pay her a lump sum if necessary. I'm doing this to help improve my focus so that I can build up a deposit on a house and not feel disheartened that my money is "disappearing".

    I'm finally going to take EssexHebridean's sage advice and save the money I get from surveys etc in a separate bank account to create a little deposit stash to get me going.

    Phew, a couple of sensible financial decisions from me! What has happened!


    (Saying that, I may have booked a weekend away in December for OH's Christmas present...not such a wise girl after all...)
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • lonelyrat
    • By lonelyrat 12th May 18, 9:20 PM
    • 263 Posts
    • 639 Thanks
    lonelyrat
    I think that's a really solid idea. Being able to save for something and have a goal will be far more motivating. If worst comes to worst you can always take some deposit savings and pay off a chunk.

    Haha! I had wondered what you had got your OH! Where are you jetting off to this time? The way I see it is an experience is better than a gift that may not have any longevity and just get discarded. Holidays for the win! If my OH can find a job sometime soon I want us to go away in September for my birthday. We will both be a few months debt free and it can serve as a nice reward (and to make up for the Copenhagen fiasco!)
    Total Debt: 1125 / 7266.93
    Outstanding Debt: Santander CC 450 - Virgin CC 675
    Weight Loss: 7.1kg/ 38kg
    • Silver Queen
    • By Silver Queen 13th May 18, 11:52 PM
    • 370 Posts
    • 1,751 Thanks
    Silver Queen
    We're going to Kiev in Ukraine - OH will love it as he'll be interested in the soviet history. I just booked it because it was cheap and will be cheap when we're there! It cost around £80 each for flights and accommodation and will only be a long weekend. I checked lonelyplanet and I reckon we will be fine with £100 spending money each. OH will be told to supply his own spending money! Will also need to book airport transfers as for some reason there doesn't seem to be a metro to the city centre from the airport. I checked and it'll be around £40 there and back. Also will book train tickets as it's at a slightly further away London airport and last time it cost us more to get to the airport and back than it did our whole holiday! I didn't quite realise how cold it gets there though and we're going in December so I might have to buy a snow jacket!

    Very naughtily I have now also booked a holiday to Rome for us in February. My family wanted to go on a family holiday there for three days which I'm not paying for at all except maybe the odd meal when I'm there. My sister is using her Avios to book the flights so she offered to book a later flight back for me so I could spend some time with OH there as we have never been to Rome before, so I'm essentially tagging on two days of accommodation and spending money. It was £75 each for accommodation for both days (Rome is so expensive!) and I used some of my own avios to book a flight for OH so he could be on the same flight back with me. Probably shouldn't have but Rome is on our bucket list and we have never booked it because it's always been too expensive. This way, it's actually affordable!

    All in all I've spent or will spend about £300 on holiday this month
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • EssexHebridean
    • By EssexHebridean 15th May 18, 12:45 PM
    • 8,676 Posts
    • 45,729 Thanks
    EssexHebridean
    That's a great budget way to visit somewhere that's so firmly on your list though - and you have the time to save up spending money etc as well so all good I'd say!
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£944.19 (15/05/18)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • lonelyrat
    • By lonelyrat 15th May 18, 8:50 PM
    • 263 Posts
    • 639 Thanks
    lonelyrat
    Kiev is on my list to go to! I did Slavonic Studies for a while at Uni so I feel your OH and I share an interest haha

    Rome will be lovely as well! 2 holidays for £300 isn't bad at all... And like EH said you have time to save up the spending money!
    Total Debt: 1125 / 7266.93
    Outstanding Debt: Santander CC 450 - Virgin CC 675
    Weight Loss: 7.1kg/ 38kg
    • Silver Queen
    • By Silver Queen 18th May 18, 8:47 AM
    • 370 Posts
    • 1,751 Thanks
    Silver Queen
    I have to confess to well and truly busting my budget this month

    I just spent £160 on four tickets to a gig in October! My favourite band is doing a reunion of two shows only having not done a gig together for I don't even know how many years. I've never seen them live! It's even in my part of London so I think it's fate.

    I will be getting £80 back for two of the tickets but I bought tickets for myself and OH before even asking him if he wanted to go, on the basis that they would probably sell out and I didn't want to miss out. Because of this I told him that I would pay for his ticket as it's not really fair for me to demand he attends and also demand that he pays. Missed a trick though because he then told me that he is a fan of the band too so I could probably have asked him to pay

    Really not doing very well this month! At least my meagre savings pots are still intact...
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • onedaysomeday
    • By onedaysomeday 18th May 18, 9:08 AM
    • 395 Posts
    • 603 Thanks
    onedaysomeday
    Well done on keeping the savings intact though! I had to raid all of mine this month due to my own fault with buying car insurance on the day of buying the car which made it jump up an extortionate amount

    The gig tickets sound like a good reason for busting the budget though I would have taken it being local to you as a sign I should go too!
    Debt paid £1780.76 / £7180.59 (24%)
    CAR SERVICE CHALLENGE: £21/£154 BY 5/6/18 (13.5 %)
    EMERGENCY FUND: £0 SAVINGS POTS: £0
    • Silver Queen
    • By Silver Queen 20th May 18, 11:49 AM
    • 370 Posts
    • 1,751 Thanks
    Silver Queen
    Accidentally put my leather watch in the tumble dryer

    Fortunately the watch part is fine but the straps are completely ruined. I'll have to buy new straps!

    Going to have a look in the jewellers today and see if I can find anything unbranded which looks right. Otherwise it's £30(!) for new leather straps.

    Next month I will be buying some new casual clothes as I've had a rash of clothes giving up the ghost on me, having been worn for 5 years or more. I now have only two dresses, two pairs of jeans, one pair of leggings and one jumper that I can wear casually - not really ideal! I have loads of office clothes so I should be OK in that respect although my recent weight gain has made my clothes quite unflattering....
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
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