We will be Debt Free
Posted by Victoria Ice in Our Debt on 03-07-2009
It’s July and summer is here!
And after ten years in debt – I have decide to take the bull by the horns and get my finances in order.
We are both self employed and working together and so it can be a little iffy with just how much we will be earning each month but am hoping to clear at lest £2000 (remember that is before tax). I am working on the principal that once I have cleared my debts I can set monies aside to pay my Taxes as soon as they become due.
My credit cards are gone – yes I have cut them up a few days ago telling myself that there was really no reason for keeping them if I was not planning to use them again.
The other culprit is our mortgage and that is more than half of our total debt.
Sorry if this is getting a bit long in the tooth now but this is our starting point - and we do so want to be is debt free by July 2011……………………………….
So watch this space and I will try and keep you up to date with our getting into the BLACK…………
My starting point;
Credit Card 1 – £5,398.72 (21.9%)
Credit Card 2 – £5,759.68 (20.8%)
Credit Card 3 – £17,625.78 (15.9%)
Credit Card 4 – £6,172.82 (0%)
Overdraft – £3,981.96 (18.8%)
Mortgage – £58,952.67 (5%)
TOTAL DEBT…£97,891.63
