Clearing debts in 2010...

[Blah11]

Anyone elses New Years Resolution to clear all debts?

I'm currently -1500 into my overdraft Mainly because of maternity leave then Christmas and Amelies birthday. I didn't start getting my full wage until October then only had 2 wages before Christmas and her birthday so my pockets defo felt it! Well anyway, we're trying for another baby this year so I'd like most of my debt gone by the time I go into my next lot of mat leave lol

My OH gets paid weekly so he gives me his part of the bills every Friday and it all comes out of my bank. I'm not using my debit card for anything so all my wage, CB and WTC will go to my bills and debt and from the money he gives me I'm putting £60 into my bank leaving me with £50 for food for me and amelie and bus fares for work (£15 a week)
It's gonna suck but it needs to be done.. here's to Aldi and Lidls
Oh and in March and April it's free council tax months so I'll get an extra £150 a month towards my debt yippee and my gym contract ends in April so my last payment will be on March 1st then I'll be saving an extra £52.50 a month.




Anyone else in a similar situation? Maybe we could start a support thread or something?

 

[Blah11]

https://www.makesenseofcards.com/soacalc.html

found this really helpful too. If anyone is confused about how they'll clear debt or where to cut down on expenses you could always fill one out and post it and we can help and see where you could maybe cut down.

Mine says I have £148.54 leftover a month to pay my debts off so if thats right hopefully my debt will be gone by the end of this year

 

[booflebump]

Me too! Both of us want to clear our debts and save some money before we begin ttc. Have to find a new house as well, so its going to be a serious year moneywise!

 

[littleblonde]

Im not in this situation but i was last year. I had almost 3000 in debt and i now have about 200 pounds left. It was hard and i went without a lot.Buts it totally worth it. Just give yourself the occasional treat on the way. Else you will go mad.

Good luck

 

[needausername]

I really need to sit down and work out my finances. I really really want to clear my debts but now I am heading into my 3rd paycut in a year so I don't know how I am going to cope. I'm so stressed because of it.

 

[polo_princess]

I am trying to clear my debts by the time we get married (August) but that could well knock a chunk off of what i could pay off ... i only owe about £700, so not that much,
Just waiting for a cheque of £1,000 to clear at some point during the week and i'll pay a chunk of it off, prob £300/£400 whilst ive got the cash kicking about, otherwis ei'll spend it

 

[DH_TTC]

Anyone elses New Years Resolution to clear all debts?

I'm currently -1500 into my overdraft Mainly because of maternity leave then Christmas and Amelies birthday. I didn't start getting my full wage until October then only had 2 wages before Christmas and her birthday so my pockets defo felt it! Well anyway, we're trying for another baby this year so I'd like most of my debt gone by the time I go into my next lot of mat leave lol

My OH gets paid weekly so he gives me his part of the bills every Friday and it all comes out of my bank. I'm not using my debit card for anything so all my wage, CB and WTC will go to my bills and debt and from the money he gives me I'm putting £60 into my bank leaving me with £50 for food for me and amelie and bus fares for work (£15 a week)
It's gonna suck but it needs to be done.. here's to Aldi and Lidls
Oh and in March and April it's free council tax months so I'll get an extra £150 a month towards my debt yippee and my gym contract ends in April so my last payment will be on March 1st then I'll be saving an extra £52.50 a month.




Anyone else in a similar situation? Maybe we could start a support thread or something?

Yep - We're in the exact situation. We want to get rid of all our debt this year so we can try and buy a house before we TTC. We are slowly getting there. It's hard to be patient! Good luck to you!!

 

[Blah11]

We bought a house in May which didn't help the finances! This time next year I had 2k savings it sucks! Oh well I'm feeling positive about being able to clear it.

 

[needausername]

Blah I always had money before I bought my house! I was told things start getting easier after 2years of ownership...4 years later all I can say is......what a load of tripe!

 

[Blah11]

I just want to start from zero IYKWIM so I can spend that £150 a month extra I have on treats and savings instead of it going towards paying off debt

 

[toffee87]

We're clearing debts this year

 

[ellismum]

You certainly sound motivated and determind. I too will hopefully be a position by the end of the month where I owe not one person and penny and it feels good. Good luck

 

[Blah11]

Oh well done Ellismum I don't mind having a loan or something for a new kitchen which we can pay off per month but I haaaaaaate seeing minus when I look at how much I have in the bank ((

 

[ellismum]

I was always negative lol!!! I'm working on having £500 savings in an account linked to my current ac to dip into instead of an OD going forward. I'd rather rely on my own money than the banks, esp as we are with the Halifax lol!! Can't moan though, it's their money at the end of the day and I do get £5 a month off them!!!

 

[Blah11]

Yeah I have that account too. I owe them £30 this month though ugh,. Will be the same for quite a few months tbh.

 

[ellismum]

You'll get there. I regularly go on moneysavingexpert.co.uk and it's great to help with making sure I save as many pennies as possible!

 

[orange-sox]

You'll get there. I regularly go on moneysavingexpert.co.uk and it's great to help with making sure I save as many pennies as possible!

Me too! I find it a great help! I was actually going to suggest a "debt free in 2010" or something support page...

In fact, I will start one!