End December
1. UK Credit card $5250
2. Second credit card $5400
3. UK student loan $3158
Total $13808
Total debt reduction $2242
1. UK Credit card $5000
2. Second credit card $4300
3. UK Student loan $0
Total $9300
Australian Women's Blogger's Directory
Thursday 27 April 2017
Debt reduction update
Finally it is under 10K
End December
1. UK Credit card $5250
2. Second credit card $5400
3. UK student loan $3158
Total $13808
Total debt reduction $2242
1. UK Credit card $5000
2. Second credit card $4300
3. UK Student loan $0
Total $9300
End December
1. UK Credit card $5250
2. Second credit card $5400
3. UK student loan $3158
Total $13808
Total debt reduction $2242
1. UK Credit card $5000
2. Second credit card $4300
3. UK Student loan $0
Total $9300
Wednesday 21 December 2016
Debt Reduction Update
Dear Reader
Not much progress
I have been very naughty and bought a new fridge for $2300. I mostly paid for it on lay by but as a result I have completely missed all my goals. I just didn't feel I could face another hot summer with a tiny fridge. we are very happy with it. I am planning to sell the old one as we no longer need it so hopefully it will fetch $200
The exchange rate has not helped either
Here it is in black and white
End September
1. UK Credit card $5350
2. Second Credit Card $6000
3. UK Student loan $4700
Total: $16050
End December
1. UK Credit card $5250
2. Second credit card $5400
3. UK student loan $3158
Total $13808
Total debt reduction $2242
Total debt reduction in 2016: $10659
Total debt reduction in 2015: $12533
over the holidays I shall be working to try and chop another $1000 of it. we shall see how we go
Not much progress
I have been very naughty and bought a new fridge for $2300. I mostly paid for it on lay by but as a result I have completely missed all my goals. I just didn't feel I could face another hot summer with a tiny fridge. we are very happy with it. I am planning to sell the old one as we no longer need it so hopefully it will fetch $200
The exchange rate has not helped either
Here it is in black and white
End September
1. UK Credit card $5350
2. Second Credit Card $6000
3. UK Student loan $4700
Total: $16050
End December
1. UK Credit card $5250
2. Second credit card $5400
3. UK student loan $3158
Total $13808
Total debt reduction $2242
Total debt reduction in 2016: $10659
Total debt reduction in 2015: $12533
over the holidays I shall be working to try and chop another $1000 of it. we shall see how we go
Thursday 29 September 2016
End of September update
I splurged
I had to buy something. I was struggling with the constant budgeting. I bought some new underwear, a stack of multi vitamins and some bedclothes
This all came to around $800 which cut into my paying off.
However I have been a little lucky that some items have sold. So I have been able to make a dent in the debt. Not as much as I would like but some progress. There have also been some exchange rate changes
So here it is:
End September
1. UK Credit card $5350
2. Second Credit Card $6000
3. UK Student loan $4700
Total: $16050
Total debt reduction $961
I splurged
I had to buy something. I was struggling with the constant budgeting. I bought some new underwear, a stack of multi vitamins and some bedclothes
This all came to around $800 which cut into my paying off.
However I have been a little lucky that some items have sold. So I have been able to make a dent in the debt. Not as much as I would like but some progress. There have also been some exchange rate changes
So here it is:
Mid September
1. UK Credit card $5550
2. Bank overdraft $80
3. Second Credit card $6612
4. UK Student loan $4852
Total: $17011
End September
1. UK Credit card $5350
2. Second Credit Card $6000
3. UK Student loan $4700
Total: $16050
Total debt reduction $961
Monday 12 September 2016
Debt Reduction Update
Dear Reader
A lot has happened since I last posted
I have got a new job which pays a little more and is thankfully closer to home. It is just a one year contract so I am hoping that there will be something more permanent there soon.
However, in changing jobs, I had to miss 4 weeks income and therefore had to miss a mortgage payment. This was tough and I had to pay it back over a period of 3 pay cheques. So at a time when the pound plummeted pot Brexit, I was not able to take advantage and pay some UK debts. My Aus credit card also had to be maxed in order for us to eat and pay for some crucial car maintenance
It was a tough couple of months and definitely not any fun.
This means I have not made much progress in debt reduction. It is quite depressing how little change there has been in the numbers, but nonetheless here they are:
A lot has happened since I last posted
I have got a new job which pays a little more and is thankfully closer to home. It is just a one year contract so I am hoping that there will be something more permanent there soon.
However, in changing jobs, I had to miss 4 weeks income and therefore had to miss a mortgage payment. This was tough and I had to pay it back over a period of 3 pay cheques. So at a time when the pound plummeted pot Brexit, I was not able to take advantage and pay some UK debts. My Aus credit card also had to be maxed in order for us to eat and pay for some crucial car maintenance
It was a tough couple of months and definitely not any fun.
This means I have not made much progress in debt reduction. It is quite depressing how little change there has been in the numbers, but nonetheless here they are:
Late May
1. UK Credit card $5556
2. Bank overdraft $80
3. 2nd Credit card $6750
4. UK Student Loan $7451
Total: $19837
Mid September
1. UK Credit card $5550
2. Bank overdraft $80
3. Second Credit card $6612
4. UK Student loan $4852
Total: $17011
Total debt reduction since late May: $2826
Hopefully there will be more progress in the next few months
Friday 27 May 2016
If you don't like your situation, change it!!
Dear Reader
I am someone who believes that if you don't like your situation. Change it.
Several things have not worked out the way I planned. I will start with the finances.
UK exchange rates continue to trend towards a stronger pound. Perhaps it is the upcoming referendum. Whatever it is, the amount I owe in dollars is increasing instead of reducing. This is incredibly disheartening. I have hatched an alternative plan. My original and perfectly sensible idea was to pay the UK credit card as it charges the highest interest. However the exchange rate changes are such that my payments are barely noticeable. I have therefore decided to refocus towards the Australian one, as I can make a difference to this. I will only pay the minimum on the UK one until the Australian one is clear. I have set myself new targets and hopefully this will tip the overall balance in the next few months. Perhaps after the referendum the pound will take a drop. if this happens, I will capitalize. Here are the depressing latter figures for May. As you can see, it is not noticeable that I have made $900 in payments and I owe more than I did.
April
1. UK credit card $5425
2. Bank overdraft $220
3. 2nd credit card $6600
4. UK Student Loan $6821
total $19066
2. Bank overdraft $220
3. 2nd credit card $6600
4. UK Student Loan $6821
total $19066
Early May
1. UK credit card $5400
2. Bank overdraft $80
3. 2nd credit card $6810
4, UK Student loan $7467
Total: $19757
Late May
1. UK Credit card $5556
2. Bank overdraft $80
3. 2nd Credit card $6750
4. UK Student Loan $7451
Total: $19837
I don't see this improving any time soon so I will pay my Australian credit card. I am hoping to clear it by December.
I will let you know how it goes
xx
Saturday 14 May 2016
Debt Reduction Update - Must stay focused
Dear Reader
The problem with having debts in another country is that you are at the mercy of the exchange rate. This month I have taken a bit of a hit from the fluctuations and despite making several payments, I am worse offthan I was.
The other thing of course is that you cannot consolidate to 0% interest by switching credit cards as they will not give finance to consolidate any overseas debt.
This is unfortunate but there is nothing I can do.
Here are the latest figures:
End of March
1. UK Credit card $6115
2. Bank Overdraft $220
3. 2nd Credit Card $6360
4. Student Loan $7041
total $19736
April
1. UK credit card $5425
2. Bank overdraft $220
3. 2nd credit card $6600
4. Student Loan $6821
total $19066
1. UK Credit card $6115
2. Bank Overdraft $220
3. 2nd Credit Card $6360
4. Student Loan $7041
total $19736
April
1. UK credit card $5425
2. Bank overdraft $220
3. 2nd credit card $6600
4. Student Loan $6821
total $19066
May
1. UK credit card $5400
2. Bank overdraft $80
3. 2nd credit card $6810
4, Student loan $7467
Total: $19757
This has been very disappointing as I was hoping to be under $19000 this month and I owe more than I did previously. :(
I also have some bigger bills coming up soon so I may not make too much progress in the next month. I am however still hopeful that I can clear the UK credit card by December and I will keep trying. Even though it is a slow process, the interest I am paying on the UK card each month is dropping. I just have to keep going as this is the only way to make my finances more manageable.
until the next update
Friday 15 April 2016
Debt Reduction Update
Dear Reader
Already the term is shaping up to be a busy one so I thought I would quickly update my finances and my diet progress
So far I have been to the gym 4 days this week so despite my busy schedule, I have managed to squeeze it in. On the scales I am 3 pounds lighter so a step in the right direction! I have another 25 pound to lose so that will take a while.
On the finance front, I have not yet been paid for the pictures so I have just made my regular payments. I found out that I owed $300 more on one credit card than I thought so that smarted a bit. I will keep better track of it in future.
I have been to a small cleaning job this morning so that should buy our food for this week.
Here are the scores:
End of March
1. UK Credit card $6115
2. Bank Overdraft $220
3. 2nd Credit Card $6360
4. Student Loan $7041
total $19736
April
1. UK credit card $5425
2. Bank overdraft $220
3. 2nd credit card $6600
4. Student Loan $6821
total $19066
It seems like such a slow process to repay but I have to remind myself how far I have come. I was $37000 in debt at the start of 2015 and paying $200 a month in interest on the UK credit card.
When I receive payment for the pictures and the handbag sales this should make a difference. The card with the highest interest is now smaller than the other one. Next month, it will be under $19000 for sure so that is something to be happy about.
Until next time
Already the term is shaping up to be a busy one so I thought I would quickly update my finances and my diet progress
So far I have been to the gym 4 days this week so despite my busy schedule, I have managed to squeeze it in. On the scales I am 3 pounds lighter so a step in the right direction! I have another 25 pound to lose so that will take a while.
On the finance front, I have not yet been paid for the pictures so I have just made my regular payments. I found out that I owed $300 more on one credit card than I thought so that smarted a bit. I will keep better track of it in future.
I have been to a small cleaning job this morning so that should buy our food for this week.
Here are the scores:
End of March
1. UK Credit card $6115
2. Bank Overdraft $220
3. 2nd Credit Card $6360
4. Student Loan $7041
total $19736
April
1. UK credit card $5425
2. Bank overdraft $220
3. 2nd credit card $6600
4. Student Loan $6821
total $19066
It seems like such a slow process to repay but I have to remind myself how far I have come. I was $37000 in debt at the start of 2015 and paying $200 a month in interest on the UK credit card.
When I receive payment for the pictures and the handbag sales this should make a difference. The card with the highest interest is now smaller than the other one. Next month, it will be under $19000 for sure so that is something to be happy about.
Until next time
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