Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • benbenandme
    • By benbenandme 29th Dec 17, 5:01 PM
    • 10,420Posts
    • 27,094Thanks
    benbenandme
    2018 Benbenandme's Next Battle
    • #1
    • 29th Dec 17, 5:01 PM
    2018 Benbenandme's Next Battle 29th Dec 17 at 5:01 PM
    Hello It's that time of year for another new diary ... I'm not a newbie, I've been around these parts for years, never quite knowing whether I should be on here or the Mortgage Free boards, but after much consideration I have decided to return here for my next diary installment.

    I have previous chapters of my journey on here, but a brief history of my last ten years is as follows: I am a single parent to a 14 year old boy with ASD. I love him to bits, he is my whole world, but causes me a great deal of stress and worry too We have been living in a flat for the last 10 years and I have worked hard to clear my mortgage on it. In March this year we finally moved into a small house, which is lovely, and near my Mum. My brother lent me £30k to help get the house which is my 'debt' that I am paying back. The monthly budgets are stupidly tight, partly as I want to get it paid asap even though he is in no hurry for it back.

    Looking further ahead ds is in year ten so only has 18 months until his GCSE's. After this he wants to do an apprenticeship which, from a financial point of view, means my child benefit, tax credits and child maintenance will stop , meaning a drop in total income from approx £1900 to approx £1200 So, this year could potentially be my last one with this extra income, so I need to maximise the potential ...

    My next post will list my SOA and my plans for 2018, please stick around for the ride, all help, support and thoughts are appreciated and very much welcome
    Mortgage Total: £75,000 £72,676 Mortgage End Date: May 2040
    Brother's loan: £10667 / £30,000
    2018 Fund £87.65
Page 1
    • stepuptothepl8
    • By stepuptothepl8 29th Dec 17, 5:05 PM
    • 818 Posts
    • 3,994 Thanks
    stepuptothepl8
    • #2
    • 29th Dec 17, 5:05 PM
    • #2
    • 29th Dec 17, 5:05 PM
    Happy shiny new diary!
    LBM 1st Feb 2015 £17410 to go
    my diary: time to step up to the plate. SPC#503
    2018 challenges: coming soon!
    • doingitanyway
    • By doingitanyway 29th Dec 17, 5:06 PM
    • 2,535 Posts
    • 12,084 Thanks
    doingitanyway
    • #3
    • 29th Dec 17, 5:06 PM
    • #3
    • 29th Dec 17, 5:06 PM
    Sounds like you have worked hard to get where you are. Well done.
    Wishing you and your boy well.
    JANUARY 2016/SECURED DEBT=24,822/February 2018=795
    MORTGAGE FREE 25/07/16
    • benbenandme
    • By benbenandme 29th Dec 17, 5:14 PM
    • 10,420 Posts
    • 27,094 Thanks
    benbenandme
    • #4
    • 29th Dec 17, 5:14 PM
    • #4
    • 29th Dec 17, 5:14 PM
    So, my SOA:

    Income:

    Wages £1208
    Child Benefit £82
    Tax Credits £290
    CSA £360

    Total = £1940

    Outgoings:

    Mortgage £346 (fixed for 5 years)
    Council Tax £149 (should be lower in April, was higher as paid over 8 months)
    Life Insurance £29
    Home Insurance £15
    Water £35
    Gas/Electric £76
    Car tax £12
    Car Insurance £25
    Car Maintenance £30(put in savings account)
    Mobile £21 (out of contract in Feb so will be reducing to SIM only)
    Sky £55 (phone, broadband and tv)
    TV licence £12
    Union £9
    Spotify £10
    Gift fund £50
    Car Fund £50 (put in savings account)
    Household Fund £100 (put in savings account)
    Petrol £100
    Food £250
    Payment towards repaying brothers loan £350
    Ds train club £4
    Haircuts £12

    TOTAL: £1740

    Remaining £200 per month for day to day spends

    My next post will explain my targets for the 12 months ahead ...
    Last edited by benbenandme; 30-12-2017 at 9:38 PM.
    Mortgage Total: £75,000 £72,676 Mortgage End Date: May 2040
    Brother's loan: £10667 / £30,000
    2018 Fund £87.65
    • pennywisepoundstupid
    • By pennywisepoundstupid 29th Dec 17, 5:16 PM
    • 4,632 Posts
    • 15,384 Thanks
    pennywisepoundstupid
    • #5
    • 29th Dec 17, 5:16 PM
    • #5
    • 29th Dec 17, 5:16 PM
    Happy new diary BenBen. x
    Be mindful of your self-talk. It's a conversation with the Universe."
    Debt free and saving for my future
    Long term savings £10,000 Holiday spends £349.02 General savings £160.24
    Clothes challenge £250/£36.63
    • benbenandme
    • By benbenandme 29th Dec 17, 5:28 PM
    • 10,420 Posts
    • 27,094 Thanks
    benbenandme
    • #6
    • 29th Dec 17, 5:28 PM
    • #6
    • 29th Dec 17, 5:28 PM
    So, 2018 .....

    I am still jiggling some bits about, but by the end of 2017 the state of play should be as follows:

    Mortgage - £73, 102 / £75,000

    Brothers Loan - £9,500 / £30,000

    I have 12 months to work on these figures, I have planned and mind-mapped lots over the last few days and I think I have a pretty clear plan of action;

    I aim to knock £500 a month off my brothers loan, £350 of this comes straight from my wages, the other £150 has to be 'found'. I have already got a structure in place for where this will come from, so £6,000 in total over the year is broken down as follows:

    £350 x 12 = £4200 from wages
    £250 from bank switch offer (due January)
    £130 from another bank switch offer (due Jan/Feb)
    £82 child benefit payment (13 payments over 12 months)
    £290 tax credit payment (13 payments over 12 months)
    £200 ebay
    £500 surveys
    £200 Swagbucks
    £120 Job Spotter
    £28 other ...

    I have been earning from online surveys etc for years, this is an achievable target for this. Likewise, Swagbucks is a dull but reliable source of pennies. Currently I have been redeeming my points for Amazon vouchers then using this to buy gifts and transferring the money from my gift fund. I will see how it goes, I may continue this or I may just cash out to paypal from Swagbucks.

    Job Spotter is a fab app I have been using for a couple of months, another east way to add in some more £££'s here and there.

    So, so far it all seems quite straight forward, however, as always, things don't ever go to plan quite like that. There are other bits and pieces that may bring in some more money here and there, this will go into a 2018 fund which will be used for any unexpected costs as there is very little leeway in my monthly budget, so for example school uniform costs in the summer. If there is a surplus at the end of the year (unlikely) this will then be chucked into the pot towards my brothers loan.

    We do have some nice days out to look forward to already in the new year, and we also have a holiday booked for the summer, a rare event for us. We are going on a cruise, I am stupidly excited about this, I have managed to save almost all of the cost of it and will dip into my household savings pot to find the last £80 so I can get this finished before the new year begins

    So, two days to get everything straight and in place ready for the new year to begin. That means moving money between accounts, checking all my survey accounts, reading lots more on here to find every little way possible to make those extra pennies Please stick around!!
    Mortgage Total: £75,000 £72,676 Mortgage End Date: May 2040
    Brother's loan: £10667 / £30,000
    2018 Fund £87.65
    • beanielou
    • By beanielou 29th Dec 17, 8:08 PM
    • 50,632 Posts
    • 193,787 Thanks
    beanielou
    • #7
    • 29th Dec 17, 8:08 PM
    • #7
    • 29th Dec 17, 8:08 PM
    Happy shiny new diary
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • TallGirl
    • By TallGirl 29th Dec 17, 8:44 PM
    • 4,235 Posts
    • 8,787 Thanks
    TallGirl
    • #8
    • 29th Dec 17, 8:44 PM
    • #8
    • 29th Dec 17, 8:44 PM
    Sounds like a great plan I!!!8217;m sure you!!!8217;ll do it don!!!8217;t be too hard on yourself if your brother is happy to lend it to you I!!!8217;m sure he means it. So impressed you!!!8217;ve already paid for the cruise you always manage to balance the needs of your DS and you that!!!8217;s really lovely. All the best for the new diary I!!!8217;m signed up.
    • Maiden Mum
    • By Maiden Mum 29th Dec 17, 9:12 PM
    • 146 Posts
    • 370 Thanks
    Maiden Mum
    • #9
    • 29th Dec 17, 9:12 PM
    • #9
    • 29th Dec 17, 9:12 PM
    Following with interest Benbenand me!
    • dangers
    • By dangers 29th Dec 17, 9:24 PM
    • 1,394 Posts
    • 2,622 Thanks
    dangers
    Hi Benben, happy new diary and here!!!8217;s to a good 2018!
    • Purplemumof2
    • By Purplemumof2 30th Dec 17, 7:45 AM
    • 5,804 Posts
    • 21,548 Thanks
    Purplemumof2
    Hi Benben,

    Happy new shiny diary x
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £6750.00 Cap 1: £456.79 BC: £8800.00
    AFD 3/14 NSD 3/14 LTW 6/14
    POAMAYC 2018 #041 PD £1194.42/£4000
    Savings for Christmas £60.84/£365
    20p Savers 2018 £2 Savers 2018 50p Savers 2018 SPC 11 2018 #003
    • benbenandme
    • By benbenandme 30th Dec 17, 8:31 AM
    • 10,420 Posts
    • 27,094 Thanks
    benbenandme
    Morning all, I ended up helping ds with his paper-round again today as we both slept in a bit. Since we got back I have stripped both beds and remade mine (will do ds's later), whizzed around the lounge and put most bits back in their proper homes. I also remembered the binmen were coming today so have put the bins out ready. Just about to take ds to the station to get the train to his Dads, then I've got a couple of hours until I go out for brunch.
    Mortgage Total: £75,000 £72,676 Mortgage End Date: May 2040
    Brother's loan: £10667 / £30,000
    2018 Fund £87.65
    • Eager_Elephant
    • By Eager_Elephant 30th Dec 17, 10:49 AM
    • 4,205 Posts
    • 23,808 Thanks
    Eager_Elephant
    BenBen

    Followed you over from your old diary - here's to a great 2018
    Ninja Saving Turtle No. 24 for January
    NSD - 16/18
    (up to 27/01/18)
    My Diary is here - http://forums.moneysavingexpert.com/showthread.php?t=2175629 (Eager Elephants Effective Everyday Excursion)
    • mummytogirls
    • By mummytogirls 30th Dec 17, 11:49 AM
    • 5,942 Posts
    • 21,268 Thanks
    mummytogirls
    Morning Benben,

    Welcome back over to these boards. I always had a read of what was going on in your world over on the MFW boards .

    You are always so good with your budgets, I need to be more like you!!!! xx
    Mummytogirls x

    £23164.32 - 12/12/10
    £6069.37 - 02/01/18 - 73.80% paid off
    • Februarycat
    • By Februarycat 30th Dec 17, 1:23 PM
    • 1,244 Posts
    • 1,684 Thanks
    Februarycat
    Hi BenBen, I remember you from your old diary, nice to see you back with a new one.
    OnePoll = £40.00 11/3/16 - £40 28/12/17
    Pureprofile = £15.20
    PanelOpinion = £2.95
    • benbenandme
    • By benbenandme 30th Dec 17, 3:54 PM
    • 10,420 Posts
    • 27,094 Thanks
    benbenandme
    I've been to lunch with friends for her birthday, was nice to catch up with some people I haven't seen for a while. Chilling on the sofe with the footie on, it's half-time and at the moment we're winning

    I have done two loads of washing (all the bedding) so will leave the rest until tomorrow or I will run out of places to dry it all. Tonight I want to get some banking stuff moved about ready for the start of the new year.

    I still need to get about another 35 Swagbucks to reach today's goal, I have a couple of other surveys in my inbox that I need to get on with too. I also could do with doing a food order for delivery, I have a Tesco pass for deliveries on Tuesdays, Wednesdays or Thursdays.
    Mortgage Total: £75,000 £72,676 Mortgage End Date: May 2040
    Brother's loan: £10667 / £30,000
    2018 Fund £87.65
    • erniethecat
    • By erniethecat 30th Dec 17, 4:01 PM
    • 31 Posts
    • 92 Thanks
    erniethecat
    Hurrah for a winning football team!!
    • louby40
    • By louby40 30th Dec 17, 5:11 PM
    • 1,287 Posts
    • 3,539 Thanks
    louby40
    Hello, my eldest son began an apprenticeship in May. It took him a fair few months to get it though. He wanted an IT apprenticeship which are few and far between- he!!!8217;s now got one with a small company and he!!!8217;s doing IT and business studies.

    His child benefit stopped and then this month he turned 18 so my maintenance from his dad also stopped.

    I have a second son who is also in Y10. It!!!8217;s scary how fast time will go. I!!!8217;m still getting maintenance and benefits for him but like you that will eventually stop.

    Will your sons dad continue to pay maintenance until he!!!8217;s 18? The apprenticeship wage is terrible, my son gets about £570 a month.

    Good luck with your budgets - you sound very organised!
    Emergency fund £803/£1000. Christmas savings £150/£600 Car maintenance £164/600
    Chip savings £96.45 TOTAL savings = £1213
    Kitchen July £12,493 JAN £9,493
    Barclaycard £1000
    Car loan £2490 Mortgage £94,193
    TOTAL DEBT (with mortgage) = £107,176 (without mortgage) = £12,983
    • benbenandme
    • By benbenandme 30th Dec 17, 5:55 PM
    • 10,420 Posts
    • 27,094 Thanks
    benbenandme
    Thanks Louby, those who have been reading my previous diaries will know the answer to your question re. his Dad paying maintenance until he's 18 - unfortunately his father is one of those who can't be relied upon A regular theme on here is how his Dad does almost nothing towards raising his son, other than pay the minimum he can get away with per month. I am under no illusions that he will stop paying at the first opportunity In an ideal world I would like to think that he will give ds some money directly each month to subsidise him, however, I have learned not to be daft
    Last edited by benbenandme; 30-12-2017 at 6:22 PM.
    Mortgage Total: £75,000 £72,676 Mortgage End Date: May 2040
    Brother's loan: £10667 / £30,000
    2018 Fund £87.65
    • louby40
    • By louby40 30th Dec 17, 7:09 PM
    • 1,287 Posts
    • 3,539 Thanks
    louby40
    Oh dear. I have a close friend whose ex hasn!!!8217;t given her a penny since they split. Both her kids are adults now. He is self employed so she could never prove how much he earned. He did used to buy them clothes and took them on holiday but not much help to my friend who still needed to pay the mortgage and feed them.

    Luckily my ex husband has been very good with regular maintenance and although not the official rate, the decent relationship I have with him and his ongoing support towards his kids has compensated for that.
    Emergency fund £803/£1000. Christmas savings £150/£600 Car maintenance £164/600
    Chip savings £96.45 TOTAL savings = £1213
    Kitchen July £12,493 JAN £9,493
    Barclaycard £1000
    Car loan £2490 Mortgage £94,193
    TOTAL DEBT (with mortgage) = £107,176 (without mortgage) = £12,983
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,496Posts Today

8,179Users online

Martin's Twitter