All I want to be...is Free!

A question about : All I want to be...is Free!

I've never posted on a forum before so please bear with me.

I bought my flat in 2010. I took a Ј66k mortgage and a 0% Ј15k loan from my parents. I also have my student loan to repay Ј5k left. My goal is to have all these debts paid by Dec 2018. Or at least have enough money in savings to be able to pay off all these debts if I want to by Dec 2018 (will depend on the interest rates etc at the time).

I live alone so this will be a real achievement for me is I can pull it off (lets skip over the parental help). I have a budget, and several spread sheets to keep me on track. I'm very tight with money and I've just dipped my toe into the Stoozing pool but any tips and advise would be welcome. Fingers crossed.

Best answers:

• Just wanted to wish you well on your MFW journey . 2018 isn't far away at all and look forward to seeing how you get on.
• Good luck on your journey! To clear it so quick after taking it out will be amazing
• Thanks Clippy Girl, congratulations on clearing your debts. It's good to know it can be done!
• Hehe that was just the debts- only just starting on the mortgage
• Got a great deal on some fancy Chocs last week, Normal price Ј22.95 per box + Ј6 worth of fee extras so Ј28.95 woth of chocs. The advertised discount from a Coupon I recieved from a Dorothy Perkins purchase (On sale and through topcashback) was for Ј6.95 for the lot. Great, but then as I went onto the website I got another discount offer for free delivery woth Ј3.95, to in total I paid Ј3 for the lot! Yippee. I had to join the Chocolate tasting club but it was easy enough to cancel my membership once the chocs arrived. I don't think the rest of May will be so good, I've got several outings planned inc. a baby shower and a Wedding!
• Hi JustStuff
  Good luck on your journey, I absolutely love your user name!
• Got a haircut Saturday. Ј28.90 for a dry trim - Not impressed. May as well have thrown my money it in the bin! I only had the trim because I'm going to a wedding in a couple of weeks and the bride wants the bridesmaids to have long hair. I'm sick of my long hair and want a complete change but my regular lady has gone on Maternity, so now I have to find someone new, and it's scary to do that with a new hairdresser.
  Also went to a double birthday & baby shower party, managed to keep costs to about Ј20 for the event including making a giant fruit salad for the buffet. It was a good afternoon / evening and we had samba drums to try. I was rubbish, couldn’t keep time at all. But it’s something new!
  I also sent a birthday present to a friend, I sent her a bracelet I got for free when I signed up for the weekly emails before Christmas – wow I’m a cheap skate!
• I've been reading other people's diaries, and noticed how lots of people calculate the daily interest, this got me thinking. I currently overpay by Ј50 per month. I have worked out how much interest I pay over the year subtracted my Ј50 overpayments and have just paid the difference, so now I know that for the rest of the year all my mortgages payments are going straight off the capital! I've just put Ј810 into my Mortgage.
• What type of student loan do you have? Because if it's the currently 1.5% interest variety, it's one of the cheapest forms of borrowing and I'd be in no rush to pay it off
• Hi Edinburgher,
  It's the 1.5% student loan, I'm not overpaying on it. I'm only paying what I have to, I keep having those head vs heart debates. But the head always wins!
  Based on projections it should be paid off in 2018 around the same time as my 0% parent loan.
  I've included it in my signature because I consider it a part of my debt neutral project.
• I got Ј100 through Quidco last week for my Broadband & home phone deal. But I'm still fighting for Ј46.50 from M&S for my Gas and Electric. Seriously, I made the switch back in November it should have been sorted by now!
  I went out last night. I went to a Pole show to watch friend perform, she was fab. And there were some other really great performers, I have a few new moves I want to try (Fitness hobby not professionally) and now I have a real urge to try Arial Hoop! I'll have to look into it - it won't be cheap! Including the ticket the evening cost so Ј20.67.
  I'm off to Zumba in the next couple of hours… I better go and get ready.
• So, I knew this month would be a bad one financially. I had a friend’s wedding to go to, it was a wonderful day, and the bride looked stunning! But the wedding was arranged on the same day as some sort of sporting final. So the hotel cost a fortune and it’s all the stuff that goes with it, the wedding gift, & transport ,the haircut, professional make-up, etc. (I was a bridesmaid). I’m sweating just thinking about it! And disappointingly they didn’t take up my suggestion for a paddling sized chocolate / vodka fountain! I knew the costs were coming so I was able to budget for them; it’s just difficult to see all the extra savings I manage to make in April disappear in May. But I’ve put a lot of the costs onto my stoozing credit card so I’ll get a little interest back.
• Just got a letter from the Tax Man! I applied for the rebate for washing my uniform, I work in an office but we have fleeces. I got a cheque for Ј45 and now I get an extra Ј1 in my monthly pay packet...Every little helps.
• He He, well unless the fish normally cost more than Ј45, I reackon i'm still ahead!
• Just booked a 6 week Aerial Hoop Course for Ј42 which isn't to bad. I'm very excited - the only down side is that it's a 2hr round trip after work. Still for 6 weeks I can manage! This does mean I'm going to have to go out and get new leggings.
• Been very bad today! I went into town to pick up a prescription & renew a library book and ended up spending over Ј70! In my (very small) defence I didn't pay full price for anything. I got two cardi's and some T-Shirts - I was feeling optimistic about the summer. And some Mascara. Did an online grocery shop when I got home, I'll collect it tomorrow (I'm not paying for delivery!), I spent Ј60 I did have over Ј100 worth in the basket but I got pretty ruthless at the checkout. The cupboard, freezer & fridge are all almost empty, I'll just have to re-stock more gradually. Also just paid Ј100 for a Hen party in September. All in all a very bad end to this month.
  Must do Better next month
  Must do Better next month
  Must do Better next month
  Must do Better next month
  Must do Better next month...
• Don't be too hard on yourself. Life is for living and would be boring without the occasional blow-out .
• What have I been up to this week? Not much to report on the mortgage front, I’m only overpaying regularly by Ј50 per month. Any left money goes into my Santander account until I hit the Ј20k threshold, that's well on track for next March. I just found out I was supposed to wait 12 months before opening a new 5% nationwide current account. I’ve just wasted 2 months and now I have to wait until next June to open a new one, I’m not sure whether the reduced Interest or the fact that it messes up my spread sheet bothers me more. (I like to run my finances April to April) Well onwards and upwards!... Well onwards anyway