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  • FIRST POST
    • raldo
    • By raldo 14th Jul 18, 10:54 PM
    • 63Posts
    • 141Thanks
    raldo
    Starting Again... I can be debt free before 50
    • #1
    • 14th Jul 18, 10:54 PM
    Starting Again... I can be debt free before 50 14th Jul 18 at 10:54 PM
    Hi


    I have previously been a member on here before but have re-joined with a new name tonight as I need a complete fresh start.


    A little bit about me... I am married but have recently separated from my husband so things are a bit up in the air at the moment with the house situation thankfully there are no kids involved. I am currently living in the house and can afford things for now but am unsure how things will stand if I try to get a mortgage on my own with my debt its looking highly unlikely. I have arranged an appointment with a financial adviser and a lawyer to find out what my options are. I think that I will be having to put the house on the market but I hope not but if it comes to it then that's what I will need to do. Trying not to worry about it just now tho!


    My debts at today are as follows:


    RBS £3400
    MNBA £10582
    TESCO £5270
    BARCLAYCARD £13599
    CREATION £2000
    HUSBAND £600


    Total Debts outstanding £35451


    I have put everything into the snowball calculator tonight and paying £625 per month my debt free date is 118 months away which is just under 10 years away. I will be 50 in ten years so if I can be debt free by the time Im 50 then I will be happy with this.


    I have got myself into this mess by buying things I didn't need and also through gambling which I really need to stop. I have a really supportive friend who is helping me work through this issue and I know I can stop cause I have done so before and I need to now as I only have my income to rely on to pay the bills and my debts.


    I have enough money coming in to pay the household expenses and debts but nothing left over for food or petrol. I have emptied my savings pot and have £300 in £2 coins which is what im going to use for food and petrol for the next few months.


    I have lots of stuff I don't use and need in the house so I think I need to start having a clearout and try and get some cash coming in.


    I have entered my meter readings for my gas and electricity tonight and managed to bring my bill down by £5 a month so that's a start. I have the full sky package which I know I don't need so I will be phoning them in the morning to see what I can do to reduce my costs.


    Thanks for listening


    Raldo xx







Page 5
    • raldo
    • By raldo 6th Jan 19, 9:29 PM
    • 63 Posts
    • 141 Thanks
    raldo
    Hey thanks for replying well it turns out I was worried about nothing. I’m still on track and have enough to keep my going until mid June.
    I’ve started taking the money out my savings and putting it into my shortfall envelopes so I still have it to pop into the bank when I need it.
    I’ve one bid on eBay for 99p which is right it’s better the 99p in my pocket.
    I haven’t went through my clothes as yet. I might try popping some on Facebook first before I try eBay.
    I have received an order through my business for £110 which is really good and surprising for this time of year. I’m hoping that I only need to spend £40 max on what I need to do the order so I should have £70 coming in which is good.
    I help out at slimming world every week and I enjoy the company so I will keep going as I need to get the weight back off and I will use the money out of my food budget to pay for it.
    I’m back at work tomorrow and am not looking forward to it! I have made some lentil soup today so have lunch sorted for tomorrow and Tuesday.
    I’m getting a lift into work so that will save me petrol tomorrow.
    Trust Deed Protected 1 out of 48 payments made 47 months to go!
    • pidge04
    • By pidge04 6th Jan 19, 11:25 PM
    • 606 Posts
    • 1,755 Thanks
    pidge04
    Would be great if you could get a steady stream of custom for your business.
    O/D £900 Ö to be £400 in December 2019
    CC £3050 Ö. to be £1999 in December 2019
    LOAN £3692 Ö to be £1876 in December 2019!
    • raldo
    • By raldo 13th Jan 19, 10:25 PM
    • 63 Posts
    • 141 Thanks
    raldo
    Hi
    Just a quick update before I head to bed.
    Iíve received another order for £31 so the business is starting to pick up a bit. All these orders are from people that havenít ordered before so thatís good.
    I have had another eBay sale for 99p but will only get about 60p once the fees have come off hardly seems worth the effort to be honest and Iím still waiting on the payment. I have another item with a bid on it finishing tonight I suppose all the pennies will add up.
    Iíve cleared my very account this month so thatís one debt gone!
    Car insurance was due for renewal on 27th and my quote was £350 now I had £400 saved for it but did a comparison and managed to get it down to £253 so Iíve saved myself £147 which has given me another 2 envelopes to my shortfall.
    So far Iíve got 30 of my shortfall envelopes put aside (which takes me up to the beginning of June. Iíve still got a bit of money in my savings account which equates to another 6 envelopes. Iím hoping that I can enough to take me up to the end of June.
    Iím also due a backdated pay increase which could be as much as £500 after tax so that will take me up to the end of July.
    Iím hoping that my minimum payments will start to come down so that I can adjust my budget for future months so that I can stretch these envelopes a wee bit further.
    Iíve put a load of stuff on Facebook for sale today and Iíve sold some things for a total of £8 which I should get on Friday.
    My yougov points are up at 3100 now
    Really should get to bed as back to work tomorrow why are weekends so quick!
    Trust Deed Protected 1 out of 48 payments made 47 months to go!
    • pidge04
    • By pidge04 14th Jan 19, 12:47 AM
    • 606 Posts
    • 1,755 Thanks
    pidge04
    Some successes there, Raldo!
    O/D £900 Ö to be £400 in December 2019
    CC £3050 Ö. to be £1999 in December 2019
    LOAN £3692 Ö to be £1876 in December 2019!
    • raldo
    • By raldo 16th Mar 19, 10:36 PM
    • 63 Posts
    • 141 Thanks
    raldo
    Hi
    Itís been ages since Iíve posted and so much has happened. I think I was scared to post anything until everything was finalised. I have entered into a trust deed as there was no way I could continue to deal with all my minimum payments. I went through the step change online tool which recommended that was my best option. The deadline for any objections was last week and the trust deed is showing as protected now. Iíve just made my first payment to them so one down 47 to go!
    Itís been really strange having a proper budget for petrol and shopping. Iím still going to have to watch the pennies as I will be on a strict budget for the next 4 years but am hoping that it will all be worth it in the end. The budget doesnít allow for any luxuries which is fine with me but I want to try and save some money for any emergencies that may arise like car trouble or something breaking that I need to replace or even just a small treat now and again.
    I think the scariest thing for me is that Iíve always had the safety net of being able to fall back on a credit card or my very account if I needed anything but now I donít have that choice and that scares me.

    Iím hoping that I will be able to save a bit from my various budgeted amounts by watching every penny, selling stuff I no longer have a need for and not wasting money on non essentials.

    I hope Iím still welcome on this forum as I really need the help and support to help me get through I was just too scared to put anything on here incase I jinxed it!
    Raldo
    Trust Deed Protected 1 out of 48 payments made 47 months to go!
    • raldo
    • By raldo 17th Mar 19, 8:46 PM
    • 63 Posts
    • 141 Thanks
    raldo
    Today Iíve weighed myself and Iím the heaviest Iíve been in ages Iíve decided to pack in slimming world as I canít justify spending £5 a week when Iím not losing any weight. Iíve decided am going to do one of my workout dvds and start using my wii fit. I went out for a jog this morning but have eaten loads of junk today so that needs to stop! I want to lose 1st 3lbs and am going to give myself 6 months to do it.

    Iíve done all my washing today and some ironing to get me through the week at work. I will do the rest on Friday when Iíve got a day off.

    Iíve cleared out my freezers and written down everything thatís in them. There are a lot of non diet foods that Iím going to use up as I canít affford to waste them.

    Iíve resisted my unsold items on eBay and put some pictures of things I will be making for Easter on my Facebook business page and have got 4 orders already. Hoping I will be able to get a few more orders in. My budget is going to be tight for the next 4 years so want to try and build up a bit of an emergency fund.

    Raldo
    Trust Deed Protected 1 out of 48 payments made 47 months to go!
    • pidge04
    • By pidge04 17th Mar 19, 9:40 PM
    • 606 Posts
    • 1,755 Thanks
    pidge04
    Good plan! Seems like the right thing to do.
    Great news about your 4 orders!
    O/D £900 Ö to be £400 in December 2019
    CC £3050 Ö. to be £1999 in December 2019
    LOAN £3692 Ö to be £1876 in December 2019!
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