Personal baby

Published on July 1st, 2014 | by Pete

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July 2014 Update

June is done and dusted. I think I did quite well financially. I did spend some money at a stag do, but this was money I had already saved for a different thing, so no real problems with that. I was able to make a bonus payment of £166 to my Nationwide credit card, which is great. That debt is really coming down now, and the fact that I can make extra payments means that hopefully the debt will be gone a lot quicker. I am also pleased that we seem to be coping okay finance wise with the addition of our daughter to the family, which is good, as it was quite worrying in terms of our ability to cope. However, we have not started to pay for childcare yet….

Let’s get down to the figures. At the end of June, my debt stood at £17,774.73. After my July payments, my total debt will be £17,263.24. That means that I have reduced my debt by a further £511.49. This took me by surprise too! Of course, there is an explanation. I received my annual statement from Nationwide about my loan, which gives me the actual interest I’ve been charged over the year, rather than the averaged out interest I use as a guide. Still, it does mean I get a nice surprise like this once a year! It’s also pleasing to see that I should be under £17,000 next month.

July promises to be a busy month; unfortunately I think it will still be dominated by study. I do have two weeks away from work though, which is good, as my wife is going back to work and I’ll get a fortnight on my own with the baby (eeeeekk!). Still, I’m sure it will be fine, and I’m looking forward to it quite a lot. It also means that my wife will start to earn her full pay again – statutory maternity pay is less than generous. I hope life is treating you well at the moment…

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