Looking for the silver lining

Well I'm back! After clearing my debt in 2010 and staying debt free for a couple of years I'm now back to square one. Mainly due to OH's work being so erratic (he is a sub contractor in the building trade). He has weeks at a time with no work and when he does get work the pays not great - but anything is better than nothing. My wages cover the bills and food thankfully but nothing else.

Anyway a combination of OH not bringing much in and not budgeting properly has led to me building up credit card debt again (thankfully at 0%) of £5368.95 :eek:

I have realised that the only way to stay on top of things is to stick to a budget. What we were doing before is spending the money before we had it on a credit card and then clearing it at the end of the month. But OH can be at work one day and laid off the next so we didn't always have the money to cover what we'd spent and this is where we have been going wrong and how the debt has built up again by me having to transfer it to a 0% card.

What's happening now is I'm trying to stay on top of things by having a "pot" of money in my monthly budget and sticking to that. Once I have cracked this then it should be easy to stay out of debt when it's paid off.

At the end of the month whatever OH has earned is split as follows:

50% is for petrol, OH's work expenses/mobile phone, and anything else we need that month

25% is for holidays (I know we shouldn't be having holidays whilst in debt but they keep us smiling through the uncertainty)

25% is for paying off the debt and when this is paid off this will become savings.

So far I've stuck to this for two months. It's hard at times but this is the only way to do it. Should OH not bring anything in one month then I'm afraid we'll have to dip into what little savings we have in our emergency fund. BUT NO MORE ADDING TO THE DEBT!!!

Currently the debt is split between two cards:

Barclaycard £1800 0% until September 2013 -so this must be paid off first

Halifax £3568.95 0% until 2015 - so a bit more breathing space on this one but still want it paid off asap.

I'm doing the grocery challenge and the virtual sealed pot and doing well with this. The VSP will pay for Christmas.

Decided to do a new diary as it helped so much last time - so here I go again on my second debt-free journey. Determined this will be the last time.
Christmas Savings 2024 £218.29/£600 March NSD:3 March Surveys £
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  • Sun_Addict
    Sun_Addict Posts: 21,030
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    I have a few goals for March and at the end of the month I'll look back and see what I've achieved.

    Goal 1

    Grocery budget is £330. This is for 3 adults, 2 cats and 1 dog. I am trying to get this down as I think it's too high.


    Goal 2

    Budget for monthly spends is £540. I know this sounds a lot but OH travels a lot for work and can easily spend £300 a month on diesel. He has to buy his own tools too and he always seems to be needing a new hammer or something. I often say to him that it costs him more to go to work than he earns!


    Goal 3

    I really need to lose the 10lbs that has crept on over the past few months. I plan to do this by trying to stick to 1400 calories a day, walking 3 miles to work every day, dog walking and doing exercise DVDs. I also have a treadmill, an exercise bike and a cross trainer - so no excuses!


    Goal 4

    We are going on holiday at the end of next month for a week so need to save £250 towards spending money.


    Goal 5

    The most important one! I would like to pay at least £250 off the debt.


    Of course all the above two goals are dependent on OH working for the rest of the month. He has work at the moment but he's being held back a bit by the weather.


    Let's see how it goes!
    Christmas Savings 2024 £218.29/£600 March NSD:3 March Surveys £
  • Sun_Addict
    Sun_Addict Posts: 21,030
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    Just realised - I've had a no spend day today! Day off from work so not been anywhere but walking the dog. Major achievement for me!

    Unfortunately tomorrow I'm at the hairdressers so not a cheap day - but at least it's budgeted for and the cash is in my purse (briefly!).


    This weekend I'm going to sit down and do a menu plan from now until payday. I will also plan my diet/exercises so I don't go off course. I've got the My Fitness Pal app so will make use of it. Also need to look at ways to start paying bits off the debt weekly to keep chipping away at it. Now what can I eBay/ Music Magpie mmm...
    Christmas Savings 2024 £218.29/£600 March NSD:3 March Surveys £
  • beanielou
    beanielou Posts: 89,641
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    Happy shiney new diary :grin:
    Keep posting!
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing [email protected]. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "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.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • Sun_Addict
    Sun_Addict Posts: 21,030
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    Monday again! Actually I don't mind Mondays as they feel like a fresh start. Usually this feeling has disappeared come Tuesday afternoon!

    I was proud of myself when I went to my hairdressers on Saturday. I usually have a gel colour on my nails every 3 weeks there but they have put the price up by £5. Said no to this as I think it's too much now to pay out every 3 weeks when I can paint my nails myself quite easily. So saved myself £20 by going home and doing them myself.

    This weekend I also decided to pay something off the Barclaycard debt every week by either making money (eg eBay or Music Magpie) or for example spending a few quid less in my grocery budget or other budget. A sort of "pay something off for nothing" type of thing. Imagine how chuffed I was to go into my bank account today to find £30 paid in from Money Supermarket for switching my gas and electricity.:j So this week's "pay something off for nothing" has been a doddle and the said £30 has now been sent straight to Barclaycard and I can report the balance is now £1770.00.

    Feel like I'm back in the game now!
    Christmas Savings 2024 £218.29/£600 March NSD:3 March Surveys £
  • beanielou
    beanielou Posts: 89,641
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
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    Looking good :)
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing [email protected]. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "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.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • Nikky2003
    Nikky2003 Posts: 39 Forumite
    Hello Sun Addict

    I'm reading your diary with interest as we have also cleared debt before and find ourselves with a little again (around £3,000).:o

    I'm going to start my diary this week and now subscribed to yours!

    Best wishes and good luck! :D

    Nikky xx
    :j Now debt free :j
  • Sun_Addict
    Sun_Addict Posts: 21,030
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    Hi again Beanielou - I remember you from my last diary! Good to hear from you again! :wave:

    Hi Nicky - I'll look for your diary. It makes you angry with yourself when you've got debt free once and then build it back up again doesn't it. Good luck anyway!:hello:

    Well just over half way through the month and this is where I am at the moment with my goals:

    Goal 1 - Grocery budget £330 - only have £80 left in this but new budget starts next Tuesday so should just do it. Seems extra hard this month as we keep running out of stuff and both food cupboard and freezer are looking bare.

    Goal 2 -monthly spends - have overspent in this area. Blaming this on OH!

    Goal 3 - lose 10lbs - not lost anything yet. Have been exercising but been a bit half hearted with diet. Am going to start writing everything down as I've been successful before when I've done this.

    Goal 4 - holiday spending - still ongoing until payday.

    Goal 5 - pay £250 off debt - £30 so far. Will pay a bit more off this Friday - I've joined the extra payment a week challenge to motivate me with this.

    So not doing brilliantly at the moment but still got another week to go! Will keep on pressing ahead!
    Christmas Savings 2024 £218.29/£600 March NSD:3 March Surveys £
  • Sun_Addict
    Sun_Addict Posts: 21,030
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    Thank goodness it's Friday! :beer:
    I've had a rethink about how to handle the monthly spend that's mainly OH's expenses. This gets put on a Tesco credit card and then gets paid off at the end of the month. However, I've decided to keep on top of it I'm going to pay it off weekly as OH gets paid weekly. I'm forever re-jigging how I handle the finances and having new "light bulb moments" so we'll see how this goes. Still trying to keep in mind a budget of around £500-£600 though.

    Grocery budget hasn't gone well with a slight overspend. Struggling a bit with this as cupboards, fridge and freezer seem to be quite empty but will keep pressing on.

    Another £27 paid off Barclaycard as OH's van insurance was £27 cheaper than last year's. Already had last year's amount saved so surplus has gone to the "Extra Payment a Week" challenge. However, it wouldn't let me pay just the £27 as the minimum payment of £39.82 is due next month. So I've now paid £66.82 off it today. New balance on this card is £1703.18 and I'm so itching to pay off the odd £3.18 as I like to see nice even numbers! Realised I need to pay off £293 a month to clear this card by the end of August so need to crack on!

    Put another £2.91 into my Virtual Sealed Pot which now stands at £128.36.

    AND last but not least I've put £250 away for the holiday spending out of OH's pay. So that target has been hit. :j

    OH's wages next week will be going to paying off debt after the Tesco card has been squared up. I feel like I'm on top of things now I'm sorting stuff out weekly. Just need OH to keep working. He's got plenty of work on it's just the weather spoiling things at the moment.

    Just waiting for my payday now!
    Christmas Savings 2024 £218.29/£600 March NSD:3 March Surveys £
  • Sun_Addict
    Sun_Addict Posts: 21,030
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    What a weekend! The weather here was appalling - freezing cold and tons of snow overnight on Friday. Where's Spring?

    OH's van started playing up yesterday. Luckily he got it going again so hopefully it was just the cold. Can't be doing with that expense. Also iron has stopped working! Luckily have a spare - not brilliant but will do for the time being.


    I'm getting concerned about OH's health as he keeps falling asleep all the time, he can't get warm and he seems a bit sort of "out of it". He says he will try to get a doctor's appointment as he is worried too.


    I have spectacularly overspent on March grocery budget. Really struggled this month as everything seems to have run out. Will have to try harder next month.


    Had yet another rehash of budget and hopefully will finally be getting it right this time!! OH is off work due to snow so he's fed up. I hate not knowing what we've got coming in every month but at least my wages are predictable. He used to earn twice as much as me but at the moment we're lucky if his wages match mine. Damned recession!


    Oh well just have to keep going in the hopes that things pick up.
    Christmas Savings 2024 £218.29/£600 March NSD:3 March Surveys £
  • Sun_Addict
    Sun_Addict Posts: 21,030
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    Only 2 more days to payday! Am becoming obsessed with spreadsheets and paying bits and bobs of money off. Glad OH gets paid weekly as I can get my "fix" more often.

    Have stocked up on pet food which will hopefully last a month for 2 cats and 1 small dog. Pets at Home are doing their own brand cat food 2 x 12 pouch boxes for £4.00 which is brilliant as I usually pay £7.00 for 2 boxes Felix. So I got 8 boxes, a big bag of meaty chunks for dog and some frozen meat for dog for £21 - this was with a £5 off when you spend £25 VIP Club coupon. Am determined to stick to grocery budget in April so this should help keep costs down.


    Will be starting new grocery budget tomorrow and finally getting my food stocks back up again.
    Christmas Savings 2024 £218.29/£600 March NSD:3 March Surveys £
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