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  • FIRST POST
    • Nicnak
    • By Nicnak 10th Sep 17, 8:30 PM
    • 973Posts
    • 5,379Thanks
    Nicnak
    Debt Free Year
    • #1
    • 10th Sep 17, 8:30 PM
    Debt Free Year 10th Sep 17 at 8:30 PM
    Hi,

    I've pretty much buried my head in the sand over the past 15 years about debt and what it means. I've always seen it as 'normal' to have debt for things, and never thought twice about it. Recently though, I have wanted to think about cutting down my work hours, and I just can't. I can't be the mum I want to be to my 4 year old because I need to work to make sure I can pay the bills and debts. That is when it hit home, that I can't continue like this. I am having a wedding reception in December, which I know is going to take up most of my 'spare' cash, but from January 2018, I will make a difference to my debts.

    Currently have
    485 0% credit card. It was 2000 in July, So I have been ensuring that I am working on it.
    7500 Tesco loan at 3.2% - Paying 220 a month and due up in Three years
    17,450 car loan. Car is in negative equity and I'm stuck in the PCP. The car also is over mileage and has damage. I am 10 months away from handing it back, but with excess mileage and damage, I am thinking this might not be the best idea. Currently paying 351 a month for this luxury that I am thinking I don't need. (I shouldn't have got it, but I did, I can't change what I have stupidly done, and now need to work on the best options).
    I spend money every month on things I don't need, and really need somewhere to record and focus on what it is I am doing, and the inspiration to keep going when I see progress is being made.

    I've started a written diary as well to try to help. If I pay off these debts, then I know that I will be 500 better off. In April, my phone is due up for renewal, and I have already looked at the SIM only deals which will take it to the 500 a month mark.

    i am going to try to earn some extra per month to pay off the debts, which in the short term might reduce the time I have with my daughter.

    Here goes...

    I really need to do this now.
Page 42
    • Nicnak
    • By Nicnak 2nd Jun 18, 10:07 AM
    • 973 Posts
    • 5,379 Thanks
    Nicnak
    Thanks everyone.
    I am desperately trying to get well again, but my head goes into a slump.

    I have noticed that mentally I have changed with my view on things. I am still on debt busting and will continue to be like this but other things have changed.
    September 6th 2017 - Updated 26th August
    Credit Card 0 now: 0 Tesco Loan 7500 = 0 Consolidation 15,000 = 12,450 Total = 25,330 12,192 52% gone EMF #252 = 1200/1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 2nd Jun 18, 2:42 PM
    • 973 Posts
    • 5,379 Thanks
    Nicnak
    I have just discovered there is something called post sepsis syndrome which describes my symptoms perfectly. It can take 6-18months to recover.
    September 6th 2017 - Updated 26th August
    Credit Card 0 now: 0 Tesco Loan 7500 = 0 Consolidation 15,000 = 12,450 Total = 25,330 12,192 52% gone EMF #252 = 1200/1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 3rd Jun 18, 8:33 AM
    • 973 Posts
    • 5,379 Thanks
    Nicnak
    OK,

    Pay day is a week on Friday. I have 200 in my account, which sounds like plenty of money, but I have a busy and difficult weekend next weekend.
    Friday I need to travel to Cardiff for business. I will be paid for my mileage, and also be paid for being there for the day.
    150 to be there - paid within a month
    170 for mileage- paid within a month (Although I am awaiting confirmation that I can get paid for this)
    My Mum's birthday
    A birthday party for my little one (So present required)
    All of this will need paying for in advance and then claiming back. I will need to pay for the evening meal and claim that back as well. Potentially, I am at risk of going into my overdraft. I need fuel for work for two weeks, and I also need fuel for the car to go to and from Cardiff before I get paid for it.

    Think I am just going to have to 'cope' with this as it is all going to come back to me, I just need to sit tight and wait for it. I don't really want to credit card it, but I guess I could do if needed to ensure it doesn't come out of my account. I will need to find out my pin number this week if I am going to do that.

    So, a very long two week wait, I'm going to need shopping as well this week! Oh well, sure I will be fine.
    September 6th 2017 - Updated 26th August
    Credit Card 0 now: 0 Tesco Loan 7500 = 0 Consolidation 15,000 = 12,450 Total = 25,330 12,192 52% gone EMF #252 = 1200/1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 3rd Jun 18, 9:18 PM
    • 4,870 Posts
    • 34,486 Thanks
    HairyHandofDartmoor
    That's very awkward Nicnak, it's a shame you have the delay in getting the money back. Maybe you need a savings pot for temporary work expenses.

    Post sepsis syndrome would explain your exhaustion. It's frustrating for you so I do hope yours doesn't last 18 months. Make sure you schedule some rest into your busy week .
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = 58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build Emergency Fund & Loss of Income Fund. Save for house repairs.
    "Tough times never last, but tough people do" - Robert H Schuller
    • Nicnak
    • By Nicnak 4th Jun 18, 7:27 PM
    • 973 Posts
    • 5,379 Thanks
    Nicnak
    Yep, get planned for this as I knew it was coming!
    September 6th 2017 - Updated 26th August
    Credit Card 0 now: 0 Tesco Loan 7500 = 0 Consolidation 15,000 = 12,450 Total = 25,330 12,192 52% gone EMF #252 = 1200/1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 13th Jun 18, 8:18 PM
    • 973 Posts
    • 5,379 Thanks
    Nicnak
    Up and down in terms of money before Friday's pay day.

    I found out tonight hubby has medical insurance thingy and got paid 112 for my hospital stay. He didn't tell me and eventually agreed to pay me 50% of it even though he pays the monthly fee. That has helped me out massively.

    I had to pay out 50.40 to pay for food and for breakfast for little one and hubby. I also paid his fuel as he drove us of 60 and the excess left he has been able to use all week, and it took us to see his family.

    One account is 25 up. The other is 33 into the overdraft. Overall it is -8.

    From business, I am owed quite a lot of money- around 300 so far, but that will come much later on. Payday is on Friday, and I am hoping that it gets put through as soon as possible so I can pay some more debt off. x
    September 6th 2017 - Updated 26th August
    Credit Card 0 now: 0 Tesco Loan 7500 = 0 Consolidation 15,000 = 12,450 Total = 25,330 12,192 52% gone EMF #252 = 1200/1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 24th Jun 18, 6:37 AM
    • 973 Posts
    • 5,379 Thanks
    Nicnak
    I!!!8217;ve left my husband so will probably be quiet for a while x
    September 6th 2017 - Updated 26th August
    Credit Card 0 now: 0 Tesco Loan 7500 = 0 Consolidation 15,000 = 12,450 Total = 25,330 12,192 52% gone EMF #252 = 1200/1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Cumbria lass
    • By Cumbria lass 24th Jun 18, 6:57 AM
    • 2,182 Posts
    • 13,330 Thanks
    Cumbria lass
    Sorry to hear that Nicnak , take care of yourself and your little one .
    CC1 221 /3718
    • enthusiasticsaver
    • By enthusiasticsaver 24th Jun 18, 8:51 AM
    • 7,066 Posts
    • 15,311 Thanks
    enthusiasticsaver
    Sorry to hear that Nicnak. Hope you're doing ok healthwise.
    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
    • DebtFreeDuo
    • By DebtFreeDuo 3rd Jul 18, 2:13 PM
    • 834 Posts
    • 4,229 Thanks
    DebtFreeDuo
    Just stopped by to see how you were doing, I'm so sorry to hear this. I know I am only a virtual stranger but my inbox is open at any time, I know how difficult it all is and how overwhelming. I hope you are taking care of yourself and your small.
    Debt free by Christmas 2018 #004: 6065.82/7445.69
    2018 in 2018 #25: 2549.13/2018
    SPC 586
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 10th Jul 18, 7:18 PM
    • 4,870 Posts
    • 34,486 Thanks
    HairyHandofDartmoor
    I!!!8217;ve left my husband so will probably be quiet for a while x
    Originally posted by Nicnak
    Oh crumbs I've only just seen this. Sorry Nicnak. I hope you're okay.
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = 58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build Emergency Fund & Loss of Income Fund. Save for house repairs.
    "Tough times never last, but tough people do" - Robert H Schuller
    • Nicnak
    • By Nicnak 2nd Aug 18, 7:45 AM
    • 973 Posts
    • 5,379 Thanks
    Nicnak
    Hi,

    I know it's been a little while since I updated. So much has happened/happening. I am still being closely monitored as bloods and new allergic reactions are occurring quite frequently. Last night I had a bad reaction to lime slushy. I only tasted my daughters and came out in a bad reaction so my body has changed so much compared to how it was. There is so much that I can't do and eat.

    I am still separated from husband. He has asked me to get better before making the decision permanent. I am in the process of buying him out of the house though. Hoping that goes through this month as I have been paying the bills on my own since he left the house. It's my second month of full bills now and I am managing ok. It's hard and I'll need this site for tips more than ever now.

    I have used my exam marking money to book a holiday too. Me and the little one are off to Gran Canaria for a week. I debated booking it, but decided it was the right thing for us to do and that time out and away was only going to help. I feel a little guilt that I am not debt busting with it, but it just feels right to get away.

    So that's my journey so far. It's going to be a hard year. I have put the books up for sale and contacted the book shop about them. Hopefully he'll have an offer this week to act as my month bills buffer and pay a little off the loan as well.

    Here's hoping!
    September 6th 2017 - Updated 26th August
    Credit Card 0 now: 0 Tesco Loan 7500 = 0 Consolidation 15,000 = 12,450 Total = 25,330 12,192 52% gone EMF #252 = 1200/1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • efes shareholder
    • By efes shareholder 2nd Aug 18, 8:21 AM
    • 286 Posts
    • 755 Thanks
    efes shareholder
    Be kind to yourself - parting ways is emotionally draining and takes it toll so a little break and respite will hopefully do yourself and your little one the world of good.
    • enthusiasticsaver
    • By enthusiasticsaver 2nd Aug 18, 8:46 AM
    • 7,066 Posts
    • 15,311 Thanks
    enthusiasticsaver
    Hope you get a good price for the books and you enjoy a rest on your holiday with your little one. Sorry your health is still suffering.
    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
    • Dorastar
    • By Dorastar 2nd Aug 18, 9:05 AM
    • 1,894 Posts
    • 15,743 Thanks
    Dorastar
    Hope the holiday brings you some rest and some peace too, sounds like you've been going through loads.
    Mr T 13199.04 Bank 3149.44 Mortgage 160,000
    Emergency Fund 2538 Blanket squares 33/60
    • Nicnak
    • By Nicnak 2nd Aug 18, 9:32 AM
    • 973 Posts
    • 5,379 Thanks
    Nicnak
    Thank you all.

    It has to be one of the toughest years of my life both health and personal wise.

    It will only make me stronger and better at managing my money in the long run. It's a good job I changed the car last year. All debts apart from the loan are paid.

    Onwards and upwards x
    September 6th 2017 - Updated 26th August
    Credit Card 0 now: 0 Tesco Loan 7500 = 0 Consolidation 15,000 = 12,450 Total = 25,330 12,192 52% gone EMF #252 = 1200/1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 2nd Aug 18, 9:41 AM
    • 973 Posts
    • 5,379 Thanks
    Nicnak
    Just updated my signature. 49.7% of my debt has gone (not including mortgage).

    I need to build up my emergency funds again to an acceptable level. They are currently at 0 having to pay out for everything at the minute especially legal stuff to separate the house. That has been nearly 1000.

    50% debt gone is a huge amount. I need to get this gone, but it will now be slow and steady. I plan to over pay the mortgage by 50 a month too just to keep it going. x
    September 6th 2017 - Updated 26th August
    Credit Card 0 now: 0 Tesco Loan 7500 = 0 Consolidation 15,000 = 12,450 Total = 25,330 12,192 52% gone EMF #252 = 1200/1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • Nicnak
    • By Nicnak 3rd Aug 18, 8:24 AM
    • 973 Posts
    • 5,379 Thanks
    Nicnak
    Morning all,

    Money is a little tight at the minute. I have my holiday booked and just paid a huge chunk of it so my account is looking poor. I have all clothes needed for the holiday though, and also the spending money. so my account really just has to get me till the holiday date. That means more walking so not using as much fuel, shopping on a low budget (not that hard when it's just me). I have a full freezer for little one, but not for me. I will ensure I use up and be frugal with all my bits. I don't need any of the expensive things like toilet rolls, washing tablets etc.

    I've bought one of those kids things that gets you days out on a budget. It reduces the price of everything. My little one loves crafting, so I have really ensured that she gets crafting stuff which occupies her for hours. I have also managed to find some free activities too, which I have been booking her on to as well.

    School holidays can be so expensive!

    No news from the book seller yet. I guess I will have to wait and be taught patience!

    Hope everyone else is ok?
    September 6th 2017 - Updated 26th August
    Credit Card 0 now: 0 Tesco Loan 7500 = 0 Consolidation 15,000 = 12,450 Total = 25,330 12,192 52% gone EMF #252 = 1200/1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • enthusiasticsaver
    • By enthusiasticsaver 3rd Aug 18, 1:53 PM
    • 7,066 Posts
    • 15,311 Thanks
    enthusiasticsaver
    Getting rid of almost 50% of the debt is good. What rate are you paying on that consolidation loan?

    I would split any spare money between debt and emergency savings if you are back at nil. Is it a good idea to overpay the mortgage before you have agreed on a financial split with your ex? Won't he see the benefit of that too or are you not splitting the equity?
    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
    • Nicnak
    • By Nicnak 4th Aug 18, 7:39 AM
    • 973 Posts
    • 5,379 Thanks
    Nicnak
    Getting rid of almost 50% of the debt is good. What rate are you paying on that consolidation loan?

    I would split any spare money between debt and emergency savings if you are back at nil. Is it a good idea to overpay the mortgage before you have agreed on a financial split with your ex? Won't he see the benefit of that too or are you not splitting the equity?
    Originally posted by enthusiasticsaver
    That's what I am torn between. Paying debt or building up a buffer. The interest is 5% on it. It was better than all the other rates and provided the payment needed to secure the mortgage. I might amend it once everything has gone through, but will have wait and see whether that is an option at a lower rate.

    I am getting the mortgage and deeds transferred into my sole name. That should happen this month and that is when I will start to overpay a little every month. I guess every little helps.

    I'm proud of the 50%. It could have been 75% by the end of the year if we were still together, but that is me staying in a relationship where I am unhappy just to satisfy debt busting. If need be, I could sell some jewellery and pay off another good chunk off it. I guess I have options.

    xx
    September 6th 2017 - Updated 26th August
    Credit Card 0 now: 0 Tesco Loan 7500 = 0 Consolidation 15,000 = 12,450 Total = 25,330 12,192 52% gone EMF #252 = 1200/1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
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