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  • FIRST POST
    • Knit Witch
    • By Knit Witch 24th Jun 13, 3:53 PM
    • 3,122Posts
    • 28,687Thanks
    Knit Witch
    Knit Witch's NitWit LBM, debt busting with yarn!
    • #1
    • 24th Jun 13, 3:53 PM
    Knit Witch's NitWit LBM, debt busting with yarn! 24th Jun 13 at 3:53 PM
    Okay I need to shift £3k of various debts, I need to shift rather a lot of weight and I need a plan! At the moment I have lots of yarn so I am planning on knitting to keep me away from snacking and on-line shopping

    The main thing is I reckon I can clear £200 a month - possibly more so I need to knuckle down and do so! (and not buy any more! )
    OS Weight Loss 3.88/10

    V3ry - £1,119.41 and S1mplyBe - £593.18
Page 1
    • Knit Witch
    • By Knit Witch 25th Jun 13, 11:37 AM
    • 3,122 Posts
    • 28,687 Thanks
    Knit Witch
    • #2
    • 25th Jun 13, 11:37 AM
    • #2
    • 25th Jun 13, 11:37 AM
    Okay it looks as though I can make an extra payment of £30 tomorrow - this will be purely off the capital and not interest - so that should help matters out!

    I just need to keep away from on-line yarn sellers
    OS Weight Loss 3.88/10

    V3ry - £1,119.41 and S1mplyBe - £593.18
    • Piquant
    • By Piquant 25th Jun 13, 12:51 PM
    • 5,746 Posts
    • 29,928 Thanks
    Piquant
    • #3
    • 25th Jun 13, 12:51 PM
    • #3
    • 25th Jun 13, 12:51 PM
    Aha! A shiny new diary I shall subscribe and listen to your yarns with interest and amusement, no doubt.

    Happy diary days
    Total debt at October 2008: £67,213.30
    Total debt today: £0
    - debt and mortgage free 29th November 2013
    Sealed Pot Challenge member 14
    Save £12K in 2014 - £6,521.90/£6K member 138



    • Knit Witch
    • By Knit Witch 25th Jun 13, 12:58 PM
    • 3,122 Posts
    • 28,687 Thanks
    Knit Witch
    • #4
    • 25th Jun 13, 12:58 PM
    • #4
    • 25th Jun 13, 12:58 PM
    Aha! A shiny new diary I shall subscribe and listen to your yarns with interest and amusement, no doubt.

    Happy diary days
    Originally posted by Piquant
    Thank you Piquant! I will shift the debt, I will shift the weight, I won't over buy yarn
    OS Weight Loss 3.88/10

    V3ry - £1,119.41 and S1mplyBe - £593.18
  • JoolzS
    • #5
    • 25th Jun 13, 2:11 PM
    • #5
    • 25th Jun 13, 2:11 PM
    If you have a ridiculous stash of yarn (as I have of fabric) could you knit things and sell them, even at a loss because you've already bought the yarn, to help clear the debt?

    Feel free to dismiss this idea out of hand - I would hate to sew just to sell items, but might consider sticking a couple of things on etsy if I were still in debt.

    Good luck with both your challeges
    • Knit Witch
    • By Knit Witch 25th Jun 13, 2:20 PM
    • 3,122 Posts
    • 28,687 Thanks
    Knit Witch
    • #6
    • 25th Jun 13, 2:20 PM
    • #6
    • 25th Jun 13, 2:20 PM
    If you have a ridiculous stash of yarn (as I have of fabric) could you knit things and sell them, even at a loss because you've already bought the yarn, to help clear the debt?

    Feel free to dismiss this idea out of hand - I would hate to sew just to sell items, but might consider sticking a couple of things on etsy if I were still in debt.

    Good luck with both your challeges
    Originally posted by JoolzS
    Luckily I don't have that much (yet ) and I don't think my knitting is good enough to sell , but that is worth thinking of for a little way down the line (the main thing is to NOT add any more yarn or patterns until I have used up a lot of what I have AND cleared a fair chunk of the debt as well!)
    OS Weight Loss 3.88/10

    V3ry - £1,119.41 and S1mplyBe - £593.18
    • *Robin*
    • By *Robin* 25th Jun 13, 2:25 PM
    • 3,185 Posts
    • 12,704 Thanks
    *Robin*
    • #7
    • 25th Jun 13, 2:25 PM
    • #7
    • 25th Jun 13, 2:25 PM
    Hello Knit Witch,

    ..Fantastic user-name!
    Happy shiny new diary; love the idea of knitting your way out of debt (clever you - I never managed to learn that skill, much to Mum's disappointment).

    Good Luck on your debt-busting journey.

    Rx
    (subscribed )
    • Knit Witch
    • By Knit Witch 25th Jun 13, 2:27 PM
    • 3,122 Posts
    • 28,687 Thanks
    Knit Witch
    • #8
    • 25th Jun 13, 2:27 PM
    • #8
    • 25th Jun 13, 2:27 PM
    Hello Knit Witch,

    ..Fantastic user-name!
    Happy shiny new diary; love the idea of knitting your way out of debt (clever you - I never managed to learn that skill, much to Mum's disappointment).

    Good Luck on your debt-busting journey.

    Rx
    (subscribed )
    Originally posted by *Robin*
    Thank you *Robin* (waves back )
    OS Weight Loss 3.88/10

    V3ry - £1,119.41 and S1mplyBe - £593.18
    • DreamerHelen
    • By DreamerHelen 25th Jun 13, 7:34 PM
    • 2,512 Posts
    • 13,482 Thanks
    DreamerHelen
    • #9
    • 25th Jun 13, 7:34 PM
    • #9
    • 25th Jun 13, 7:34 PM
    Hello There

    I wish I could knit....I'm left-handed and my Grandma tried to teach me left-handed knitting....and I did it for a little while but got bored....that's just typical of me...LoL

    I'm always envious of people that can knit....so go for it and enjoy...

    Well Done on the extra £30 payment...that's great....

    I'm going to subscribe if that's okay....Keep up with your Journey....
    Committed To Paying Off My Debts AND Saving
    3-6 Month Emergency Fund #1 £0/£6000
    General £1000 Emergency Fund #13 £5/£1000
    MSE Sealed Pot Challenge #089 - Stars from SueUU x23
    • cazmanian_minx
    • By cazmanian_minx 25th Jun 13, 8:04 PM
    • 4,011 Posts
    • 18,474 Thanks
    cazmanian_minx
    Subscribing here too - you've reminded me that I have a lace-pattern shawl to finish off....

    Good luck with losing the lbs and the ££££s
    Home: 06/08: £145,145.00 Currently: £114,428.66 Offset: £51,337.84 Amount paid off: £30,716.34 (21.2%) Paying interest on: £63,090.82
    Holiday let:
    02/17: £177,416.86 (Family loan: £129,146.86 + 0% cards £48,270.00) Currently: £169,836.86 Amount paid off: £7,580.00 (4.22%)
    Sugar days 2017: 17/26 Debt-free: 17/02/2017
    • Katzen
    • By Katzen 25th Jun 13, 8:04 PM
    • 530 Posts
    • 1,692 Thanks
    Katzen
    Hi Knit Witch,
    I'm also on a yarn diet this year in an effort to pay for our house. I have cheated a little by getting Mum to buy me projects as my Christmas &Birthday gifts, but even without that I would have plenty to get along with! Love a bit of Ravelry for a free pattern too.
    I shall subscribe, hopefully we can be a bit of mutual support
    Mortgage Outstanding Nov '16 £142,772.75

    Mortgage Additional OPs 2017 Target £4522.80/ Actual £865.00
    GC Feb 0/£200
    • Knit Witch
    • By Knit Witch 25th Jun 13, 8:46 PM
    • 3,122 Posts
    • 28,687 Thanks
    Knit Witch
    Subscribing here too - you've reminded me that I have a lace-pattern shawl to finish off....

    Good luck with losing the lbs and the ££££s
    Originally posted by cazmanian_minx
    How much more do you have to do on it? I have just cast on for a Cardigan - the first thing other than scarves/shawls I have done

    Hi Knit Witch,
    I'm also on a yarn diet this year in an effort to pay for our house. I have cheated a little by getting Mum to buy me projects as my Christmas &Birthday gifts, but even without that I would have plenty to get along with! Love a bit of Ravelry for a free pattern too.
    I shall subscribe, hopefully we can be a bit of mutual support
    Originally posted by Katzen
    Ravelry is evil , the number of patterns I have gone "oooooh! WANT!" on there is scary

    I think I may be getting yarn as gifts as well
    OS Weight Loss 3.88/10

    V3ry - £1,119.41 and S1mplyBe - £593.18
    • cazmanian_minx
    • By cazmanian_minx 25th Jun 13, 9:10 PM
    • 4,011 Posts
    • 18,474 Thanks
    cazmanian_minx
    How much more do you have to do on it? I have just cast on for a Cardigan - the first thing other than scarves/shawls I have done
    Originally posted by Knit Witch
    About half - it was supposed to be a Christmas present for my mother in law, but we got a new dog last November who was only 12 months old and very puppyish still and knitting wasn't the wisest thing to try and do! She's settled down a bit now

    Good luck with the cardigan - I've not made one, but I've done a couple of cabled sweaters which were far less complicated than I thought they'd be.
    Home: 06/08: £145,145.00 Currently: £114,428.66 Offset: £51,337.84 Amount paid off: £30,716.34 (21.2%) Paying interest on: £63,090.82
    Holiday let:
    02/17: £177,416.86 (Family loan: £129,146.86 + 0% cards £48,270.00) Currently: £169,836.86 Amount paid off: £7,580.00 (4.22%)
    Sugar days 2017: 17/26 Debt-free: 17/02/2017
    • Knit Witch
    • By Knit Witch 25th Jun 13, 9:39 PM
    • 3,122 Posts
    • 28,687 Thanks
    Knit Witch
    About half - it was supposed to be a Christmas present for my mother in law, but we got a new dog last November who was only 12 months old and very puppyish still and knitting wasn't the wisest thing to try and do! She's settled down a bit now

    Good luck with the cardigan - I've not made one, but I've done a couple of cabled sweaters which were far less complicated than I thought they'd be.
    Originally posted by cazmanian_minx
    How about we challenge each other to have finished them by the end of July?
    OS Weight Loss 3.88/10

    V3ry - £1,119.41 and S1mplyBe - £593.18
  • Little Vics
    I'm just about to start a shrug (once I've finished the hideous lace shawl I'm working on) and am also not allowed to buy any more yarn until I've used my stash.....love ravelry, but it's so tempting to buy the 'right' yarn for each pattern!
    • Knit Witch
    • By Knit Witch 25th Jun 13, 9:52 PM
    • 3,122 Posts
    • 28,687 Thanks
    Knit Witch
    I'm just about to start a shrug (once I've finished the hideous lace shawl I'm working on) and am also not allowed to buy any more yarn until I've used my stash.....love ravelry, but it's so tempting to buy the 'right' yarn for each pattern!
    Originally posted by Little Vics
    Oh I know, I know! and Yarn of the Month clubs from hand dyers should be banned

    I would love to make a shrug, but I need something long enough to cover my 'arris!
    OS Weight Loss 3.88/10

    V3ry - £1,119.41 and S1mplyBe - £593.18
    • cazmanian_minx
    • By cazmanian_minx 26th Jun 13, 9:53 AM
    • 4,011 Posts
    • 18,474 Thanks
    cazmanian_minx
    How about we challenge each other to have finished them by the end of July?
    Originally posted by Knit Witch
    OK, you're on - but I've mis-represented myself, I've dug it out and it's a scarf, not a shawl, so a bit less to do!
    Home: 06/08: £145,145.00 Currently: £114,428.66 Offset: £51,337.84 Amount paid off: £30,716.34 (21.2%) Paying interest on: £63,090.82
    Holiday let:
    02/17: £177,416.86 (Family loan: £129,146.86 + 0% cards £48,270.00) Currently: £169,836.86 Amount paid off: £7,580.00 (4.22%)
    Sugar days 2017: 17/26 Debt-free: 17/02/2017
    • Knit Witch
    • By Knit Witch 26th Jun 13, 11:19 AM
    • 3,122 Posts
    • 28,687 Thanks
    Knit Witch
    OK, you're on - but I've mis-represented myself, I've dug it out and it's a scarf, not a shawl, so a bit less to do!
    Originally posted by cazmanian_minx
    Even better , at this rate then you will be finished in no time at all!
    OS Weight Loss 3.88/10

    V3ry - £1,119.41 and S1mplyBe - £593.18
    • labtechlesley
    • By labtechlesley 26th Jun 13, 12:16 PM
    • 47 Posts
    • 142 Thanks
    labtechlesley
    Hi Knit Witch, (love the name!) I'm also trying to shift weight using yarn. I thought that crocheting would stop me picking and so far, so good. I have made a blanket for dgd1 and am half way through one for dgd2 but have been side tracked into clearing out the garage by ds2. However, I think I have spent more on yarn than I would have on chocolate/sweeties etc - I'm a soft touch for yarn or fabric! But if you have already got loads of yarn you are on a winner - go you!!
    Sealed pot challenge member number 2001
    • Knit Witch
    • By Knit Witch 26th Jun 13, 12:49 PM
    • 3,122 Posts
    • 28,687 Thanks
    Knit Witch
    Hi Knit Witch, (love the name!) I'm also trying to shift weight using yarn. I thought that crocheting would stop me picking and so far, so good. I have made a blanket for dgd1 and am half way through one for dgd2 but have been side tracked into clearing out the garage by ds2. However, I think I have spent more on yarn than I would have on chocolate/sweeties etc - I'm a soft touch for yarn or fabric! But if you have already got loads of yarn you are on a winner - go you!!
    Originally posted by labtechlesley
    I think crafting IS a good way to avoid the munchies - but yes it can cause other money problems! , as you say if you have enough stash then you are well away!

    Right off to eat lunch then to grab yarn and stick an audio book on!
    OS Weight Loss 3.88/10

    V3ry - £1,119.41 and S1mplyBe - £593.18
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