Diary of a single working Mumma.

StarMummy_2 · 8 April 2014 at 10:11AM

Hi :hello:
Okay so here it is the start of my Journey.
I'm 25 with a 4 year old daughter, working full time and self funding a degree (no student loans).
It's hectic to say the least.

I was stupid with money, as I guess most of us were. I got in debt trying to support a household on maternity pay while my ex lived the life of a single dude, but still came 'home' for a cooked dinner...and I let him! Fool!
That ended 3 years ago and I left with nothing but a loan and credit card debts. I paid off the loan, bought a car and then instead of being sensible I spent every penny I earned (and more) to give my daughter all the things we could never have had before.
I'm now STILL living with my parents and desperate for our own place before the little person starts school in September. The only thing holding me back is the credit card, a catalogue, and an overdraft.
Now, I had the "lightbulb Moment" on the first of this month. Unless i get hold of my spending and slash these debts I'm set for a life of living hand to mouth and that isn't the life I want. So this is going to be my diary to keep me on the straight and narrow. To get rid of these debts, the crazy interest, the throwing away money.....and more importantly to save a deposit and a safety net for our very own home.

so here's where we were at !st April 2014

Credit card: £4472.37
Overdraft: £870.00
very a/c: £19.84
car repairs: £195.87
TOTAL: £5558.08...... OUCH!

So here's to the first day of the rest of my life...as a savvy single working mumma

StarMummy_2 · 8 April 2014 at 10:21AM

:rotfl:...and now I've spelt Diary wrong. great start blondie! ha ha

Disco_Dolly · 8 April 2014 at 10:48AM

Hi StarMummy, I'm a single mum too and just started a diary yesterday! I can identify with a lot you said there. I'm in a similar situation except I got the house first for myself & DD and then I ran up the debt with car loan and credit cards - disaster!

Best of luck to you on your debt-free journey :A

StarMummy_2 · 8 April 2014 at 11:01AM

Hi Disco Dolly (cool name) thanks for dropping in.
I am so lucky that my parents are awesome, and we do pay our way in the form of rent and our own groceries. If i stick to the plan then I should be debt free and with a nice big chunk of savings by the end of the year. I'd rather that way I think than paying to run a house at the same time as living in the overdraft and paying the minimum on my credit card which just covers the interest so was never getting lower.
Like my Mum said she would rather I set some good foundations and then moved out then move out before I'm ready financially and end up moving back...again.

well in the week since my LBM I think i've done pretty well paid a nice big chunk off my CC which now sits below £4000, seeing the balance start with a '3' is such a good feeling. I've also cleared the little balance on my Very a/c so that's one debt done and dusted. popped £60 into savings (1% of my target £6,000) so the weight on my shoulders is feeling lighter already to the tune of 9% wowee.

I'm going to break my Debt free plan into monthly targets to help keep me on track.
APRIL's targets
Pay off very account DONE
Get Credit card below £4000 DONE

Just Three weeks until payday and I can hack away some more. Exciting

StarMummy_2 · 9 April 2014 at 1:21PM

little personal victory yesterday.
I don't think I've ever been able to step foot in a supermarket and only get what I went in for.
the list consisted of yoghurts and bananas for lunches and special sensitive bath lotion for the little person. I came out with just those three things, and only £2.56 lighter. I even remembered my reuseable bag

Skinnylatte · 9 April 2014 at 1:29PM

Good luck, I'm a single working mum too, so if you don't mind, I'll join you on your journey!

StarMummy_2 · 9 April 2014 at 1:43PM

Hi Skinnylatte welcome aboard

mum2one · 9 April 2014 at 1:48PM

Another stalker appearing.... single mum with debts, DD now 11, I totally see where you came from, as some of the words you wrote about trying to do your best for DD - exactly what I did, sometimes still do to an extent....

Sounds like your going great guns, u take care cxx

StarMummy_2 · 9 April 2014 at 2:49PM

well this debt slaying thing has definitely got inside my head. I am considering every little purchase I make with minute detail. the little ones scooter went to her dad's a few weeks ago, he won't let her have it back as 'he paid for it so it should stay at his house' she only see's him 1/2 a month. I'm not having that arguement. YAWN! Now if only he paid maintenance I could buy her a new one, ho hum. I got my dad to repair her bike instead. very MSE.
I also saw a super cute backpack the other day with a detachable lunch pack. before i wouldn't have bothered much to look at the price tag. It was £25. she is four, she has a lunch pack and numerous bags, she doesn't need it. problem solved.
I wore a hole in my lovely work flats too, I do need to replace them as they are my only flats (other than trainers) but for now i'll just wear some smart wedges.

Spends this week
groceries £2.56
Diesel £20.00 (travel a fair bit to work but the car does 60MPG so can't moan too much)

I'm meeting up with an old work friend on Sunday, suggested 'brunch' i'm sure coffee and cake will be cheaper than a full meal, so budgeting £10 for food and parking.

other than fuel, a couple of lunchbox top up's and the phone bill hopefully no more spends until payday.

StarMummy_2 · 10 April 2014 at 9:48AM

Morning all.
Well was sat with my head in my study books past midnight...again...and it hit me. I've got to find exam and tuition fees to the sum of £1146.00 by September. How could I forget. Well I didn't really forget, more of a case of the old mentality, i'll sort it out at the time.

So now I've got two savings pots, Uni fund and house fund. Should probably create a sig thingy to keep me on track

Skinnylatte · 10 April 2014 at 11:44AM

StarMummy wrote: »

Morning all.
Well was sat with my head in my study books past midnight...again...and it hit me. I've got to find exam and tuition fees to the sum of £1146.00 by September. How could I forget. Well I didn't really forget, more of a case of the old mentality, i'll sort it out at the time.

So now I've got two savings pots, Uni fund and house fund. Should probably create a sig thingy to keep me on track

I see you got your signature up, I spend ages staring at mine, it keeps me going :rotfl:

Diary of a single working Mumma.

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