A question about : Headache's Five Year Plan to Debt Freedom ... est. Feb 15
I'm sure I have had a dabble with a diary before but circumstances have changed slightly so we are starting afresh.
Just before Christmas 2014 Mr and I had a good chat about our future and it seemed possible that with some planning we could be debt free in five years, and be ready to sell up and move on. We had a few ideas of what we needed to do.
Roll on to the beginning of February and out of the blue I received notification of a windfall in the region of Ј10,000. This made it seem a lot more achievable.
Started getting some facts and figures in to see what I need to do.
Mortgage 17183.00 due to finish in September 2015
Link 1615.00
Link 433.80
Lowell 1707.51
Overdraft 3500.00
I'm only paying interest on the mtg and overdraft, the other three are in a self managed dmp.
With my windfall I am paying off the overdraft and coming to an arrangement with the three debts so I can then concentrate on the mortgage. I need to look at going back into a fixed rate but I cant decide on a 3 or 5 yr fixed rate atm. Lowell have been brilliant, Link are a pita! We will also be having a new bathroom and I am giving the children 500 each.
I am very good at lists, plans and ideas but also very good at doing nothing about them. Hopefully putting it all in one place will help me focus. I have a list of ppm stuff I need to look at as well, and as soon as I pay the overdraft off I want to look at claiming against nat West for a pre packaged account that I have had for years and never used. I thought I had to have it for the overdraft but that appears not to be the case.
Also high on my list is sorting out new blog ins.
So day one of my five year plans starts ... NOW!
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