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    • chelseablue
    • By chelseablue 1st Aug 17, 3:31 PM
    • 2,632Posts
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    chelseablue
    Journey to 0 by 2020, with a few bumps along the way
    • #1
    • 1st Aug 17, 3:31 PM
    Journey to 0 by 2020, with a few bumps along the way 1st Aug 17 at 3:31 PM
    Hi everyone!

    Just been reading some diaries on here and thought I need to add my own. Hopefully I will get some encouragement or just stop myself going insane

    A bit about me; I'm 34 and live in Berkshire with my partner and our 3 year old son.

    We are getting married next year so am saving towards that, plus we have a lease car that goes back in April so need to get another car. So am saving for that.

    Oh and we are going on holiday next December to Australia so need to save for that too!

    2018 is looking to be expensive

    Onto the reason I'm here: DEBT

    We owe the following:

    Lloyds credit card: 3,219
    Sainsbury's credit card 1,392

    Oh and a mortgage of 221,000 (!)

    The credit cards are 0% until 2020 so everything I send to those comes off the total.

    Currently the DD to Sainsbury's is 40, which will clear it by 2020 so I just leave that for now.
    The DD to Lloyds is also 40 so I need to concentrate my efforts here otherwise the balance will still be about 2,000 when the 0% ends.
    Determined not to have to transfer it on to another 0% deal!

    We earn 63,000 between us so am sure we can do it.

    Hopefully I've just paid the last 850 a month childcare invoice as our son is 3 now so is eligible for the Government funded hours from September.

    Will post our SOA shortly

    If you've read this far well done and thank you!!
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
Page 5
    • chelseablue
    • By chelseablue 29th Mar 18, 9:48 AM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    Got my bonus today, 1,500 after tax and NI was taken off it.

    Moved it straight over to my savings account.

    When I logged into Nationwide online banking today I noticed there's now a mortgage account on there, so all ready for the change over from Halifax next week.

    Must ring Halifax today and find out if they're taking a mortgage payment next week, mortgage normally comes out on the 1st of the month but that's Sunday and Monday is a bank holiday.

    So would have been on the 3rd but that's the day we move to Nationwide.

    Looked through the mortgage paperwork and we are due 500 cashback, need to call them and find out how they send it.
    Presume it's into the account the DD comes from, hopefully not a cheque as we don't have a joint account............yet
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • enthusiasticsaver
    • By enthusiasticsaver 29th Mar 18, 10:39 AM
    • 7,282 Posts
    • 15,966 Thanks
    enthusiasticsaver
    Have you and your DF managed to iron out your different approaches to finances? You may get a cheque for the cashback as that used to be the way they would send it so an email or phonecall pointing out you don't have a joint current account may be a good idea.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • chelseablue
    • By chelseablue 29th Mar 18, 10:53 AM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    Have you and your DF managed to iron out your different approaches to finances? You may get a cheque for the cashback as that used to be the way they would send it so an email or phonecall pointing out you don't have a joint current account may be a good idea.
    Originally posted by enthusiasticsaver
    No our approaches to money are totally different, think I might be fighting a losing battle there!

    I phoned Nationwide about the cashback and they said they send it to the account where the mortgage direct debit comes out from.

    I asked Halifax about the payment and they said they will take the 720 on the 3rd but I should get it back within 2 weeks, so no mortgage payment in April
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • enthusiasticsaver
    • By enthusiasticsaver 29th Mar 18, 11:17 AM
    • 7,282 Posts
    • 15,966 Thanks
    enthusiasticsaver
    Cheap month in April then although I don't see why Halifax should take 2 weeks to refund your mortgage payment.

    If you have totally different approaches to money you might be best to stick to separate finances then and maybe open a joint account for bills only which he is not allowed to dip into. My DH eventually allowed himself to be educated and had no debt so we merged ours totally in the end with just a personal account each. He is always running out of money in his still though. No overdraft though and strictly no money out of the joint current or savings pots without running it past me first. We both get the same amount of personal spends each month.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • chelseablue
    • By chelseablue 29th Mar 18, 11:33 AM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    Exactly what I thought, quick enough taking it out!

    At the moment when he gets paid he transfers it over to me, we may get a joint account in the future but I'm wary of letting him have a card for it.
    Bad I know!
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • chelseablue
    • By chelseablue 3rd Apr 18, 12:55 PM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    Mortgage changed from Halifax to Nationwide today.

    Checked online banking and have mortgage accounts showing with both banks, I presume the Halifax one will disappear in a few days.

    Either that or I now over 400,000

    Halifax took the mortgage payment today, but should get that paid back in a couple of weeks
    Usual payment was 720 but our fixed rate ended with them on 31st March so today they took 1,008, which is the svr rate

    Will make a note to call in 14 days if I haven't received it back.
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • chelseablue
    • By chelseablue 4th Apr 18, 9:50 AM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    The lease car that we've had for 2 years is going back today, the inspector has just been and checked it over and the good news is even though there was some scratches on it there's no charges as it was within the permitted damage for its age

    Just waiting for it to be collected later today then we will be back to having the 2 cars instead of 3

    Wont be getting a lease car again, far too worrying

    April's direct debits have gone to the cards, new balances are:

    Lloyds: 2,482
    Sainsbury's: 1,016

    Might pay off the Sainsbury's card when it gets under a thousand but always wary of doing that as its 0%

    But physiologically it'll be one less debt
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • chelseablue
    • By chelseablue 9th Apr 18, 5:21 PM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    Have a confession to make: I had to buy the flights to Australia on my Barclaycard
    Going over Christmas/they're summer was more expensive then we thought.

    After the wedding is paid for I should have just enough left in savings to clear the card though so not too worried.

    Plus instead of wedding presents we've asked for money instead so I'm confident the Barclaycard will be paid off by July
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • chelseablue
    • By chelseablue 19th Apr 18, 3:04 PM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    Halifax returned 1,009 yesterday so bank accounts looking quite healthy for a change.

    Also due 500 cashback from Nationwide by 3rd May

    Going to decide on our wedding flowers tonight...........59 days to go!
    I know nothing about flowers or what ones I want so could be a stressful evening
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • chelseablue
    • By chelseablue 1st May 18, 3:10 PM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    First mortgage payment went to Nationwide today, was higher than it would normally be as its the first one. They took 1,110. From next month it'll be 791

    But we did get the 500 cashback from them last week so that off sets it a bit.

    Last month was lovely having no mortgage payment, cant wait to be mortgage free in 30 years time
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • enthusiasticsaver
    • By enthusiasticsaver 1st May 18, 4:11 PM
    • 7,282 Posts
    • 15,966 Thanks
    enthusiasticsaver
    Overpaying even a small amount helps with repaying mortgages early. I would up that mortgage payment to 800 as I like round numbers and even 9 a month is a start. As you can afford it up it in 20 or 25 increments. Small enough that you wont miss it.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • chelseablue
    • By chelseablue 1st May 18, 5:26 PM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    Overpaying even a small amount helps with repaying mortgages early. I would up that mortgage payment to 800 as I like round numbers and even 9 a month is a start. As you can afford it up it in 20 or 25 increments. Small enough that you wont miss it.
    Originally posted by enthusiasticsaver
    That's a great idea! I like round numbers too. Will see if I can increase the direct debit online, if not will call them

    Cant wait to pay off the bloody cards, then I can start overpaying the mortgage
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • chelseablue
    • By chelseablue 8th May 18, 3:35 PM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    Bit of a milestone today, payment went to the Sainsbury's card so the balance is now in 3 figures! 976
    So tempted to pay it off with savings as it will be one debt off the list, plus free up 40 a month that I can send to another debt

    Lloyds: 2,372
    Sainsbury's 976
    Nationwide loan (for car): 5,739
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • chelseablue
    • By chelseablue 16th May 18, 3:52 PM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    Had to pay 466 today to the company we had the lease car with, for going over the agreed mileage

    Was going to pay it from the savings account but that's for the wedding really so just bit the bullet and did it on my debit card.
    On the plus side its done now and I didn't put it on my Barclaycard

    Got an expensive weekend coming up, our son is 4 on Saturday and we're taking him to Alton Towers (mainly for the Cbeebies Land there)

    We don't live near it so we're driving up Friday after work and staying in a Premier Inn (100 quid for 1 night! )

    Then on Sunday partner is going on a golf day so more spends

    Wedding is one month today! Booked our honeymoon this week but using savings for it. Be lucky to be left with a tenner after the wedding is all paid for

    My Nan has very kindly given me a cheque for 500 as a wedding present, going to wait until a couple of days before the wedding before I pay it in

    Pay day is next Friday, would be happy if there was 500 left on Thursday to save or send to Barclaycard
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • enthusiasticsaver
    • By enthusiasticsaver 16th May 18, 4:09 PM
    • 7,282 Posts
    • 15,966 Thanks
    enthusiasticsaver
    Not long until your wedding now then. You sound like you are on top of things anyway.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • chelseablue
    • By chelseablue 17th May 18, 11:22 AM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    Not long until your wedding now then. You sound like you are on top of things anyway.
    Originally posted by enthusiasticsaver
    Yes its 4 weeks on Saturday. When we booked it in February last year it seemed like there was ages to go, time certainly flies! x
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • chelseablue
    • By chelseablue 6th Jun 18, 8:50 AM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    June direct debits now gone to both cards. New balances are:

    Lloyds: 2,262
    Sainsbury's: 936

    Car insurance for both our cars is due on 4th July. I shop around every year, cheapest I've found so far is 250 for me and 630 for partner.

    He's 28 but only passed 4 years ago and drives a bmw so maybe 600 quid is good

    I normally pay for mine in full and his is monthly at the moment (65)
    Thinking of using savings to pay for both in full, then that would free up 65 a month off the monthly outgoings.

    Also still really tempted to just pay off the Sainsbury's card now its in 3 figures, then that's another 40 a month freed up.

    Just the fact its 0% that puts me off doing that
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • enthusiasticsaver
    • By enthusiasticsaver 6th Jun 18, 9:41 AM
    • 7,282 Posts
    • 15,966 Thanks
    enthusiasticsaver
    It would save you a lot to pay your OHs insurance in full. An extra 15 per month for the privilege of paying it monthly is extortionate.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • chelseablue
    • By chelseablue 28th Jun 18, 9:34 AM
    • 2,632 Posts
    • 3,058 Thanks
    chelseablue
    Wedding was lovely!

    Now that its 'out of the way' my attention has now turned to debt busting!

    I've made a decision this week, I'm going to use 500 a month paying off all the unsecured debt until its all gone. Going to start with the one with the smallest balance to keep me motivated.

    So first up is Sainsburys credit card.
    Today I'm going to pay 460 off it (dd is 40 so 500 will be paid off it this month)
    That will bring the balance down to 436, which I will pay off at the end of July.

    Then that'll be 40 cut from the monthly outgoings

    Car insurance is due next week and I think I've decided to just go for it and pay both in full (about 800 )

    But then that'll be another 65 a month we'll be better off by
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • enthusiasticsaver
    • By enthusiasticsaver 28th Jun 18, 10:12 AM
    • 7,282 Posts
    • 15,966 Thanks
    enthusiasticsaver
    Good decision on getting rid of credit card and paying in full for insurance. The less monthly outgoings you have the better as it is often cheaper to pay upfront.

    Congrats on your marriage and glad all went well.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
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