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    • raldo
    • By raldo 14th Jul 18, 10:54 PM
    • 60Posts
    • 139Thanks
    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
    • 60 Posts
    • 139 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.
    Total Debts Outstanding @ 14.07.18 £35451 now @ 29.12.18 £33869.00
    01.01.19 £33719.00
    • pidge04
    • By pidge04 6th Jan 19, 11:25 PM
    • 577 Posts
    • 1,597 Thanks
    pidge04
    Would be great if you could get a steady stream of custom for your business.
    O/D £1000
    CC £3025
    LOAN £4416
    • raldo
    • By raldo 13th Jan 19, 10:25 PM
    • 60 Posts
    • 139 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!
    Total Debts Outstanding @ 14.07.18 £35451 now @ 29.12.18 £33869.00
    01.01.19 £33719.00
    • pidge04
    • By pidge04 14th Jan 19, 12:47 AM
    • 577 Posts
    • 1,597 Thanks
    pidge04
    Some successes there, Raldo!
    O/D £1000
    CC £3025
    LOAN £4416
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