Tales from the debt side

Lucylocks · 10 June 2017 at 11:00AM

Hi all

After lurking for a few weeks I thought I'd take the leap into putting my own diary online. Long story short - I'm 40 next year and having been in consistently dreadful levels of debt since 18 I decided once and for all to address this like a grown up! From my lurking on this forum I know this as a lightbulb moment.

So far it's all gone remarkably well although I am becoming entirely fixated on saving money - I'm sure everyone who knows me is by now thoroughly bored of my 'exciting' savings. I'm hoping my enthusiasm maintains long enough to substantially reduce if not clear my debts before the big 4-0. The thought of approaching my dotage reliant on borrowings is enough to scare me into taking drastic action.

Our family is 2 kids - 14 & 12 so we have constant demands for iphone, trainers etc, DH who is self-employed and a dog. Our finances have always been a bit murky; I was always in debt due to having too much fun in my younger days, he never knew how much he was going to earn, chuck in a couple of kids and it's a receipt for disaster.

On the plus side - last year we undertook a huge extension to our house which before that was utterly rank. So a lot of my card debts relate to purchases that we really didn't factor in. For once however I do have a few tangibles to show for by borrowings other than pretty shoes and bad hangovers :rotfl::rotfl:

At the start of this adventure in March I owed £24.9k, today it will be just below £20k due my new found scrimping skills and a PPI refund which has come through today. Hurrah!! I'm going to enjoy a couple of hours seeing funds in my saving account before I move this to the credit card - and dream of the day that I actually have a positive balance. That will also be the day I tell my current bank to 'do one'.

So if anyone's interested and wants to hear my mundane money-saving wittering's please come along for the journey. Lord knows no one in my family want to hear about how much I've saved on my household insurance anymore!
:beer:

Hiddenidenity · 10 June 2017 at 12:09PM

Well done that's an amazing start

Lucylocks · 10 June 2017 at 12:30PM

Thank you - I've a couple of other PPI complaints which I'm keeping fingers crossed for. It pains me when I realise how much I've spent on interest over the years. I just really want to keep my current momentum up and sort this once and for all

Supersaver88 · 10 June 2017 at 12:59PM

Hi LL, congrats on starting your diary.
Take a look at Dave Ramsey on YouTube, he may help with the motivation wise although it doesn't sound like you need it right now. He is American but its mostly relative, and he can natter on about Jesus on occasion but if that isn't your thing just throw it aside like I do.
I do find he is a good talker and really motivating with a great radio show, not sure what others think of him.
Good luck on your journey. Sounds like you'll have it beat in no time.
SS

Lucylocks · 10 June 2017 at 5:49PM

Balls. I've just realised I forgot about 3 key things from today's grocery shop. I was so fixated on my list of 'bits' I forgot things like chocolate :mad:

Plus I was £3 over budget - must try harder!!!

Lucylocks · 11 June 2017 at 8:58AM

Plan for today;

Bake some sweet treats to go with lunches following shopping fail above
Pay chunk off credit card with PPI money (sob) Update - have done this total o/s is now under £20k. Still an awful lot but feels like a major milestone achieved. Next target £15k.....
Ironing (yawn)
Sell tickets for event we can no longer make (hopefully make a bit on these)
Housework (double yawn)
Catch up on the archers (I'm officially an old bore)

Hopefully a NSD although DH has to take DS to a rugby thing which will be £5 but that's coming from him so doesn't count towards my spends.

Sundays for me are not exactly rock and roll!

Lucylocks · 11 June 2017 at 8:57PM

Remarkably I have managed to achieve most of my list today. Epic amounts of ironing done whIlst listening to the archers.

Tickets not sold yet but I've a few people lined up. Hopefully will be gone by Tuesday. Why do people say they want something and then pull out? So frustrating!!! I sold a few bits on eBay last week but only raised £20 or so but I guess it all moves things in the right direction.

I also managed to finish tidying up the front garden. I was almost expecting the neighbours to complain that we were lowering the tone. All looking much better and I even managed to not injure myself with the electric hedge trimmer. All in all a productive day.

I can't think what else I can do this week to make saving. I've pretty much trimmed alll the fat off my budget. I waiting for July to change my elec and gas tariff but everything looks to be more expensive than what we're currently on. Given the kids are constantly charging something we literally drain the national grid. I'm hoping this doesn't hammer my budget too much

[Deleted User] · 11 June 2017 at 9:32PM

Hiya Lucy,

Thought I'd pop in and say Hi

Sounds like you're on the right track, will be following with interest xx

Lucylocks · 11 June 2017 at 9:48PM

Thanks - I'm very glad to see another mum who has somewhat 'challenging' times with their kids. I love mine dearly but can't help but think they are the most likely to derail this debt-free journey. They're so used to me just shipping out a card this is a huge shock to them. I hope I can I still in them some financial awareness.

I will make a note to check there are no cards registered to DS's Xbox. I think I'd weep and most likely swear a fair bit!

[Deleted User] · 11 June 2017 at 9:52PM

Lucylocks wrote: »

Thanks - I'm very glad to see another mum who has somewhat 'challenging' times with their kids. I love mine dearly but can't help but think they are the most likely to derail this debt-free journey. They're so used to me just shipping out a card this is a huge shock to them. I hope I can I still in them some financial awareness.

I will make a note to check there are no cards registered to DS's Xbox. I think I'd weep and most likely swear a fair bit!

Lol I think we may be in the same boat lol

We can but try. My DS logged in to DH's account, that made the hassle harder *roll eyes*

Cheering you on xx

Mrs*Spendalot · 11 June 2017 at 10:14PM

Hi! Sounds like you're doing great. We have similar aims as I'd like to be debt free by January when I'll turn 40... children are a massive money drain, we have 5 and some weeks I feel we haemorrhage money xx

Tales from the debt side

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