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Old Jan 2nd, 2014, 15:31 PM   11
wishuwerehere
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I have an overdraft which i ended up in because of bad forward planning and some unfortunate circumstances. So i want to pay it off (about 600) this year.
My oh has cleared more than 15000 of debt (he's due to clear the last little bit by this summer) as well as saving several thousand for our wedding last year and to pay for holidays this year so i feel like this should be easy to clear but i'm a bit bad for forgetting i've spent money and spending it twice iykwim? So for me paying it off is all about strict budgeting and being organised!
As far as saving goes i have a dd that saves 25 a month, i treat it like a bill so that just goes away for a house deposit. I think we have about 4 thousand saved for a house so i could pay my over draft off with that but i feel like the overdraft is my fault and we saved the deposit together so i don't want to use it for that!
I'm also going to make myself a sealed jar for saving for christmas as it caught me by surprise a bit this year and next year i'll have 2 little ones! So i just want a bit of extra cash to ease me through.
So, my goals are to pay off 600 by 1/9/14 and save 100 in my sealed jar by christmas.



 
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Old Jan 2nd, 2014, 15:40 PM   12
weewdy
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Originally Posted by aimee-lou View Post
Updated

JC - Yes thanks we all had a fabby Christmas. Sad it's over but this year is going to be exciting (holiday, 2 weddings, 3 new babies in the family not to mention school starting lol) so I'm trying to hit the ground running lol

weewdy - I'm trying to minimise the number of savings accounts I have. I have 1 attached to each of my bank accounts (mainly for 'moving' money about as we get hubby's student loan 3 times a year so it's been feast or famine otherwise lol) and 1 for the boys with the post office, and an extra one which is entitled savings on my internet banking. I have a spreadsheet which shows everything going in or out and it also has little colour block charts where I can see what I've put aside in that savings accounts for which goal. It makes sense to me to do it this way (otherwise I'd have too many accounts - I already have 6 plus 3 child trust funds/junior isas to worry about lol - but if you think having seperate accounts would help, my bank lets me set them up online instantly so they're easy enough to set up nowadays
Do you have a template for your spreadsheet?



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Old Jan 2nd, 2014, 15:46 PM   13
aimee-lou
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Originally Posted by weewdy View Post
Quote:
Originally Posted by aimee-lou View Post
weewdy - I'm trying to minimise the number of savings accounts I have. I have 1 attached to each of my bank accounts (mainly for 'moving' money about as we get hubby's student loan 3 times a year so it's been feast or famine otherwise lol) and 1 for the boys with the post office, and an extra one which is entitled savings on my internet banking. I have a spreadsheet which shows everything going in or out and it also has little colour block charts where I can see what I've put aside in that savings accounts for which goal. It makes sense to me to do it this way (otherwise I'd have too many accounts - I already have 6 plus 3 child trust funds/junior isas to worry about lol - but if you think having seperate accounts would help, my bank lets me set them up online instantly so they're easy enough to set up nowadays
Do you have a template for your spreadsheet?
Not really I did it myself. It's a sheet for everything coming in (simple list) and same for going out.

1 sheet is a running balance of my bills account and a checklist that that DDs have gone out on time, another sheet for spending account

1 sheet for the savings accounts split down the middle.

It's developed a bit of a life of it's own - it's like my bible! lol



 
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Old Jan 2nd, 2014, 15:46 PM   14
catty
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I feel comfortable with our debt but id rather it wasnt there.

What do use class as debt anything you owe money to?

I have a 950 overdraft, I pay almost 30pm to have this so want it gone!

Oh has about 300 overdraft

I have 150 on the cc I used for some xmas pressies

Then we have debts which I dont consider as debt but some might
2000 sofa we have about 1200 left which is 40pm
Car is 5000 and I pay 92 pm

I have been trying to save all of our child benefit which is 80pm but so far it hasnt gone well at all. Im going to try hard now that its 2014!!

Edit- id like to save 1000 for next january.

I also have 4 weddings this year and want to pay for the presents outright and not have anything go on a card.

Iv also set up park so hope not to get into any debt at xmas



 
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Old Jan 2nd, 2014, 15:51 PM   15
aimee-lou
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I class my debts as anything that isn't accounted for or that makes life uncomfortable. If a finance agreement is on a set period and affordable within your budget then keeping up with payments is fine, but if you got behind with payments or like your OD is costing you more than you're paying in, then it's to be tackled as that's taking away money that could be better spent/saved elsewhere.



 
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Old Jan 2nd, 2014, 16:03 PM   16
Zizzle
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Can I join? I want to start saving about 500 a month so 6000 by this time next year. Need to buy a house/save for another baby



 
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Old Jan 2nd, 2014, 16:09 PM   17
aimee-lou
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Think I've got everyone - prod me if I miss something! lol

I've made a start anyway - sold some bits on FB for 6 to be collected tomorrow.



 
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Old Jan 2nd, 2014, 16:14 PM   18
highhopes19
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Hi everyone

I'm holly, I have one beautiful little munchkin called Isabelle who's 2... Going on 22

We don't have a great deal of debt but I'm a worrier and i want it gone sooner the better

I got in a bit of a rut when I was quite ill with depression and would spend like anything we were living at home with my parents at the time and had a nice fare old amount of spare cash each month and once I'd spent all that I'd move on to accounts like very and littlwoods... Spending made me happy and watching the parcels be delivered made the buzz even greater ... Looking back I feel really angry with myself .

We've cleared over 1500 . We paid another 400 off with a credit card because the interest was a lot lower than the original debt .

Now we have left:

Provident loan- 170
Credit card- 500
My very- -about 55

So we have 725 I wanna clear this year or at the very least the provident loan and my very

Feeling really optimistic about it now

We also have toms very account with our oven on which we've got a payment plan of 35 a month for 2 years and my newlook card which is about 5 a month... I'm happy to keep these as they are for now untill the other lot are cleared then I can move onto these next year if need be If ican clear this year even better

Looking to save 500 by 1.1.15



 
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Old Jan 2nd, 2014, 17:31 PM   19
aimee-lou
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Added everyone I think. Just sat doing my budget for the next 4 months. Headache!!!!! lol

However I have sold 2 things on facebook tonight.....another 6 towards my target!



 
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Old Jan 2nd, 2014, 17:36 PM   20
aimee-lou
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Quote:
Originally Posted by Zizzle View Post
Can I join? I want to start saving about 500 a month so 6000 by this time next year. Need to buy a house/save for another baby
Love the ticker!!!! Loving the PMA!!!



 
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