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  • FIRST POST
    • EmergencyNurse
    • By EmergencyNurse 1st Mar 18, 6:54 PM
    • 80Posts
    • 156Thanks
    EmergencyNurse
    Unsecured Debt Free by 2021
    • #1
    • 1st Mar 18, 6:54 PM
    Unsecured Debt Free by 2021 1st Mar 18 at 6:54 PM
    Hello All. This is the start of my journey to becoming debt free (not including mortgage) by 2021.
    No more loans, credit cards or catalogue purchases.

    Smoking stopped, car sorn so no more tax or insurance. internet tv and magazine subscription cancelled.

    Statement of Affairs and Personal Balance Sheet

    Monthly Income Details

    Monthly income after tax................ 1700
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 1700


    Monthly Expense Details

    Mortgage................................ 468
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 90
    Electricity............................. 70
    Gas..................................... 70
    Oil..................................... 0
    Water rates............................. 54
    Telephone (land line)................... 0
    Mobile phone............................ 25
    TV Licence.............................. 12
    Satellite/Cable TV...................... 22.5
    Internet Services....................... 21
    Groceries etc. ......................... 50
    Clothing................................ 0
    Petrol/diesel........................... 0
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 41
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 14.5
    Contents insurance...................... 14.5
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 0
    Entertainment........................... 0
    Holiday................................. 0
    Emergency fund.......................... 0
    Total monthly expenses.................. 952.5



    Assets

    Cash.................................... 0
    House value (Gross)..................... 135000
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0
    Total Assets............................ 135000



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 54462....(468)......0
    Total secured & HP debts...... 54462.....-.........-


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Credit Card 1..................1291......33........0
    Credit Card 2..................423.......0.........0
    Loan 1.........................8188......263.......0
    Catalogue......................685.......67....... .0
    Credit Union...................647.......88........0
    Overdraft......................350.......0........ .0
    Loan 3.........................3834......99........0
    Loan 2.........................11288.....275.......0
    Total unsecured debts..........26706.....825.......-



    Monthly Budget Summary

    Total monthly income.................... 1,700
    Expenses (including HP & secured debts). 952.5
    Available for debt repayments........... 747.5
    Monthly UNsecured debt repayments....... 825
    Amount short for making debt repayments. -77.5


    Personal Balance Sheet Summary
    Total assets (things you own)........... 135,000
    Total HP & Secured debt................. -54,462
    Total Unsecured debt.................... -26,706
    Net Assets.............................. 53,832


    Created using the SOA calculator
    Reproduced on Moneysavingexpert with permission, using other browser.
Page 3
    • EmergencyNurse
    • By EmergencyNurse 27th Mar 18, 10:35 AM
    • 80 Posts
    • 156 Thanks
    EmergencyNurse
    Hold the front page. First World Problem Alert. Online grocery shopping has substituted my long awaited Tiramisu treat for a bog standard apple pie. Why Me!!
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
    • WannabeFree
    • By WannabeFree 27th Mar 18, 12:26 PM
    • 1,947 Posts
    • 17,860 Thanks
    WannabeFree
    So glad you decided to do the DMP. You can always overpay when you find you have 'spare' but at least you can live now while paying the debt too

    Good luck

    x
    “Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.”
    • beanielou
    • By beanielou 27th Mar 18, 4:40 PM
    • 58,707 Posts
    • 243,248 Thanks
    beanielou
    Hold the front page. First World Problem Alert. Online grocery shopping has substituted my long awaited Tiramisu treat for a bog standard apple pie. Why Me!!
    Originally posted by EmergencyNurse
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • EmergencyNurse
    • By EmergencyNurse 31st Mar 18, 8:41 AM
    • 80 Posts
    • 156 Thanks
    EmergencyNurse
    Santander PPI cheque £1432.35 straight into the car repair fund or maybe a 'new' car
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
    • enthusiasticsaver
    • By enthusiasticsaver 31st Mar 18, 8:50 AM
    • 7,369 Posts
    • 16,267 Thanks
    enthusiasticsaver
    Brilliant news on ppi cheque and good idea to put in car fund.
    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
    • EmergencyNurse
    • By EmergencyNurse 2nd Apr 18, 11:37 AM
    • 80 Posts
    • 156 Thanks
    EmergencyNurse
    Car booked in for repairs. It turns out that there aren't any buses home after a night shift from a major hospital. How does that work? Loads of us waiting for taxis on Easter Sunday and BH Monday morning. A fortune was spent getting home, not cool.
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
    • enthusiasticsaver
    • By enthusiasticsaver 2nd Apr 18, 1:47 PM
    • 7,369 Posts
    • 16,267 Thanks
    enthusiasticsaver
    That's disgusting that no bus services available when hospitals etc rely on staff getting there.
    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
    • beanielou
    • By beanielou 2nd Apr 18, 7:21 PM
    • 58,707 Posts
    • 243,248 Thanks
    beanielou
    That is not good re the bus services.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • EmergencyNurse
    • By EmergencyNurse 2nd Apr 18, 7:44 PM
    • 80 Posts
    • 156 Thanks
    EmergencyNurse
    That is not good re the bus services.
    Originally posted by beanielou
    No, but to be fair the the drivers deserve a lie in sometimes. They do work everyday except Christmas and now I've caught up on sleep i'm much more forgiving!!!
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
    • EmergencyNurse
    • By EmergencyNurse 3rd Apr 18, 10:48 PM
    • 80 Posts
    • 156 Thanks
    EmergencyNurse
    Cheque deposited - Yes
    Car booked in for repairs -Yes
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
    • EmergencyNurse
    • By EmergencyNurse 5th Apr 18, 12:26 AM
    • 80 Posts
    • 156 Thanks
    EmergencyNurse
    Waiting on PPI reimbursement from Black Horse. Gave them a deadline of Fri. Got all the paperwork and one of them shows them banged to rights. Only signed it because it was a forced sale and then the type of cover states NONE! I was also already covered via work so I paid it for nothing!! I told them I had no hesitation in going to the FO.
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
    • beanielou
    • By beanielou 5th Apr 18, 9:02 AM
    • 58,707 Posts
    • 243,248 Thanks
    beanielou
    Here's hoping!
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • EmergencyNurse
    • By EmergencyNurse 7th Apr 18, 10:30 PM
    • 80 Posts
    • 156 Thanks
    EmergencyNurse
    19 days till payday and i've STILL got money in the bank. Just a few bills left to pay. Hurray for DMPs.
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
    • beanielou
    • By beanielou 8th Apr 18, 11:10 AM
    • 58,707 Posts
    • 243,248 Thanks
    beanielou
    Good result then.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • EmergencyNurse
    • By EmergencyNurse 9th Apr 18, 8:55 PM
    • 80 Posts
    • 156 Thanks
    EmergencyNurse
    DMP start delayed by a month as I've no longer got the option to pay for car insurance monthly. Its quite a chunk to pay out in one go even though it is cheaper overall.

    Still holding out for my PPI refund which would make the financial hit more bearable.
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
    • EmergencyNurse
    • By EmergencyNurse 10th Apr 18, 6:45 PM
    • 80 Posts
    • 156 Thanks
    EmergencyNurse
    Excellent car insurance deal sorted and able to pay monthly. Laminated poster now on the notice board to remind me when to start looking for a renewal policy.

    Priority bill payment tracker, laminated and placed on notice board.

    Letters from creditors gradually arriving accepting my DMP.

    Helped son pay for small removal van hire.

    Building a decent emergency fund and I've STILL got money in the bank.
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
    • beanielou
    • By beanielou 10th Apr 18, 6:55 PM
    • 58,707 Posts
    • 243,248 Thanks
    beanielou
    All sounding good then
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • EmergencyNurse
    • By EmergencyNurse 12th Apr 18, 6:09 PM
    • 80 Posts
    • 156 Thanks
    EmergencyNurse
    Car has been with the garage since Monday, they welder can finally start working on it tomorrow. It had better be fixed by Saturday, I hate having to catch the bus then having to speak to strangers when I really can't be arsed.
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
    • LexieLou
    • By LexieLou 12th Apr 18, 9:02 PM
    • 638 Posts
    • 1,099 Thanks
    LexieLou
    Hello,

    I'm totally loving your diary, if you don't mind I'd like to follow too. Yours is a diary I totally relate too, simply because I read others and they can throw a 1k at debt a month and shift it in 18 months and I feel like I'll never, ever shift mine.

    Mwah xx
    Sept £10 a day £150 / £300, 50% Oct £10 a day / £300 0%
    1% Challenge #53
    £7.54 in sealed pot 10.05.18
    Tesco Vouchers £30.50
    EF #2 £ used, back to zero. EF #1 still in progress
    • EmergencyNurse
    • By EmergencyNurse 13th Apr 18, 10:08 AM
    • 80 Posts
    • 156 Thanks
    EmergencyNurse
    Friday the 13th, car is being repaired. What could go wrong?
    Debt March 2018 £27,596 DMP Start June 2018 Debt Free Date 2022
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