Lucielle's daring debt free journey

lucielle · 27 June 2008 at 7:27PM

Ok, after reading loads of diaries and spending most of my waking moments on here I have decided to start my own diary. Hope I don't bore too many people to death. All comments are welcome.

Just a bit of background and I will try to be brief. I am married with 4 children, 1 dog, 1 cat, 17 hens, 2 ducks and 2 horses (and I wonder why we are in the situation we are in). Our debt is from living beyond our means and a few to many costly house moves. Lightbulb moment was 11/12/07 sat in the local CAB centre being told we face bankruptcy. (remember the day vividly as it was my birthday). Since then we have both been debt busting. My oh works long hours and on shifts. He hates his job and is desperate to leave however it is well paid. In his spare time he has his own business which is what he really wants to do.

I had a job until Feb this year, it was great and unfortuntely it closed down. I had an interview last month and got down to the last 2, no prize for second place. I am struggling to find work to a) fit in with the children and b) I cannot work on a Wednesday. 2 of our children are dyslexic and they have specialist tuition. Unfortunately where I live it is not recognised as a problem. However on the plus side I have managed to apply for a bursary and been awarded it.:T I am going to gather some facts and figures and I will post my SOA. That will be scary.
L

Seaxwyn · 27 June 2008 at 7:52PM

Hi Lucielle! Oh good, another diary! I look forward to following your progress, and cheering you on along the way.

lunar · 27 June 2008 at 8:08PM

Hi Lucielle, i love reading peoples diaries its what got me to have my LBM and realise i could get out of the mess i was in. My diary has really helped me to keep on track. Look forward to seeing how you get on with the debt busting. Ill watch out for your SOA.

Remember if you find it horrendous to work out everything you owe like i did thats the worst bit over. it gets easier from there.

lucielle · 27 June 2008 at 8:48PM

Thanks for that seaxwyn.

Ok scary post coming up........my SOA

Income
Oh wages £2554.83
Oh business £160.00
Tax credits £38.09
CHB £217.60
Avon £40.00

Total £3010.52

Outgoings

rent £350
water £7.11 (approx)
Council Tax £106 (10 months)
electricity £46.50
phone £36 (this will be going up as we aren't paying enough)
TV £11.61
School dinners swimming £166.80
school fees £80 (approx depending on how long term is)
life ins £24.35
oil £40
contents ins £7.69
mobile £10
pet/diesel £350:eek: (live in a rural area and drive loads unfortunately)
car ins £58 (2 cars)
food £336
clothing £20
car tax £32
MOT £37.5
Horse ins £46.07 (2 horses)
Livery £170
farrier £73

Total £2008.63

Debts
Tesco loan £14931.6 monthly repyt £324.60 6.5%
Car payt £2179.63 £188.21 18.2% ends June 09
student support £1983.47 £86.24 0% ends May 09
American Express £2781.66 £72.00 5.9% lob
Abbey £3220.00 £10 0% Til 08/08
Citi £7005.16 (not sure of rept as just done a bal transfer) 5.9% lob
Bank of scotland £7391.73 £150.84 5.9% lob
Barclays £4650.84 £104 5.9% lob
post office £1355 £34 0% fixed til Oct
Barclays £809.27 £18 14.9%
CSMA £674.58 £14 (they have lost payments of £525)

Total repyts £1001.89

Total debt £46982.94
Overdrafts of £2900

I have a small ebay business which if needs be I use income from when desperate. My ohs wages are very erratic and it is difficult to budget for when you never have the same wage twice! Our aim is to tread water until next year when the car and student support is paid then hit those debts with that. I know it is tight and the horses are expensive. 1 is 28 years old and not worth anything, the other is mine and it has been a childhood dream to own one, one I never thought would come true. If push comes to shove I will (maybe) sell him but we are still managing.
Any thoughts welcome.
L

lucielle · 27 June 2008 at 8:50PM

Just as an after thought, looking at my signature at least it is coming down!!!:j
L

lucielle · 28 June 2008 at 8:00AM

Today I have managed to pick up a few hours work. Should hopefully get paid as well. Means that I can't go and ride as planned. Hopefully I may get chance this afternoon. Got a man coming to look at the dishwasher as it hasn't been working since Easter. The children have been taking it in turns but their washing up does leave a lot to be desired!!!

Hopefully I will get chance to go in the garden. I have had a bit of a rabbit problem and they have munched all my broccoli and sprouts. The children caught 7 baby ones and insisted they were released, which we did a few miles away however I think there cousins have decided to take there place. Hope you all have a great weekend.
L

Keeping_Positive · 28 June 2008 at 8:22AM

Hello

Well done on clearing 13k already

Could you save on school dinners while your not working? Also how about joining the monthly grocery challenge on the old style board, The Old style board is great for money saving tips.

Fingers crossed your plans go well. I look forward to reading about your progress.

delboypass · 28 June 2008 at 10:14AM

Your signature doesnt show how much you have paid off??

only shows current debt?

Well done though if you are paying it off..

be good to show start date and amount you challenged

lucielle · 28 June 2008 at 1:15PM

Ok current debt stands at £47035.17 (just had citi statement through and was a bit out) Overdrafts are still up to their max but I am not stressing about those at the moment, so they are £2900. I will up date signature shortly.

I have tried pack lunches but it is not for me. I like them to have a cooked meal at lunch time then if they have a busy evening I can give them sandwiches then if time is short.

On another note just done 4 hours at work and back in again at 3.
L

lucielle · 29 June 2008 at 7:09AM

Off to work shortly. Oh has already left he needed to be in for 6am. Have to take children with me but hopefully going to a sports event this afternoon so that should keep them happy. Take care
L

hypno06 · 29 June 2008 at 7:13AM

you are right, the debt IS coming down, and now that you are more focused on it, you will see those numbers reduce even more quickly!

Have you joined in the "make £10 a day challenge" yet? If not, head over - lots of ideas for raising extra money, and the extra £300 a month that would bring in would certainly help with the debt busting!

Have a good day at work!

Lucielle's daring debt free journey

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