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    • sugarcube84
    • By sugarcube84 10th Sep 11, 7:46 PM
    • 541Posts
    • 549Thanks
    sugarcube84
    On the up (Hopefully)
    • #1
    • 10th Sep 11, 7:46 PM
    On the up (Hopefully) 10th Sep 11 at 7:46 PM
    We had our lightbulb moment at the beginning of the week when hubby had to extend his overdraft (not as dire as it seems as he is due to get paid for a big job hes just finished) Anyway it prompted us to have a proper sit down and go through our finances, ive been aware that we needed to do something radical to stop it getting any worse but hubby was doing the head in sand thing and thinking it would go away.

    Anyway i already had a spreadsheet going (basically a SOA) and we have identifed areas we can cut back or cancel.- reduced mobile tariffs
    - Cancel phone insurance
    - ebay items we dont use, including new phone upgrade (got £330!!! ebay total around £360 after fees)
    - Joined the library
    - switched off all the appliances i can at the wall
    - changed energy providers (saved £90 a year)
    - looked at changing the 4x4 but we need something that can tow for the business and insurance/tax/mot/diesel compared with a estate it still worked out cheaper
    - looking at forecasting hubbys wage better, i have given hubby some basic cashflow forecasting lessons.
    - made all meals from the cupboard this week we have had some interesting meals!! Involving lots of tinned sweetcorn bizzarely!!
    - had packed lunches everyday
    - sat down and made a meal planner so i dont overshop and waste food
    - got new house rules such as branded stuff to be avoided, no coke have squash or water, no bottle of wine a week.No lunches from shops or fast food during . No takeaways or meals out. Only go to cinema with a 2 for 1. No buying magazines/newspapers/treats etc from shop.
    - Try and use my car as much as possible (company car & 50mpg)
    - Charge phone in work
    - walk to shop

    Think thats it i will add anything else i think of

    Debts wise we have got

    Natwest Loan £1898
    MBNA Credit Card £2485 0%
    Halifax £4800ish (which was for the car 0%)
    Barcalycard £100 (should pay off next month)

    Hubby also has an overdraft which looks worse than it is (£2474) as he hasnt been paid.

    We have a long way to go but i feel really positive that now hubby has woken up to how bad things are that will be the kick up the bum he needs to Stop spending!!

    Another thing i found useful was printing out his statement and highlight and adding up all those little just popping to the shop items he was really shocked that he was spending £8 a day on nothing!!

    Hopefully this will keep me on track and remind me where i started from.
    DFD September 2017
Page 17
    • sugarcube84
    • By sugarcube84 19th Jun 17, 10:30 AM
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    sugarcube84
    Thumbs up form the mortgage broker all our paperwork is in order, no queries from him on anything. The paperwork will be reviewed again by the admin team and then they will submit the application probably tomorrow or Wednesday.
    DFD September 2017
    • sugarcube84
    • By sugarcube84 21st Jun 17, 3:39 PM
    • 541 Posts
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    sugarcube84
    Mortgage application submitted and the survey on the house we are buying has been carried out, doesn't look like any issues have cropped up (yey!!!) survey on our current house tomorrow.
    Kepping everything crossed!!
    DFD September 2017
    • sugarcube84
    • By sugarcube84 28th Jun 17, 12:11 PM
    • 541 Posts
    • 549 Thanks
    sugarcube84
    Mortgage valuation day today eeek
    DFD September 2017
    • sugarcube84
    • By sugarcube84 3rd Jul 17, 4:50 PM
    • 541 Posts
    • 549 Thanks
    sugarcube84
    Broker informs us that we should have an offer by Wednesday. Fingers crossed.


    Its become more of a mortgage thread than a df wannabe thread at the minute :-) So....money update....I'm still keeping up with checking the banks daily, we have moved some direct debits around and after sitting down and looking at the budget for the new house we have decided to run all the bills from one joint account. Previously we had had separate accounts for personal bills (phone, gym, pony etc) and a joint for one family/house expenses. We will then move an equal amount each to our personal accounts for treats/spends/personal saving. The difference is our wages is much bigger than it was when we started this so we needed to make sure everything was allocated fairly.


    We have still got a small balance on the credit card but we were advised by our mortgage broker not to pay it off just yet and keep the money in our accounts for moving expenses. He has said in the application that it wont be paid off prior to completion and couldn't see it being a problem as its a small amount when compared with our wages and the amount we want to borrow.


    I have worked out all our costs and they will be covered by the equity we have, plus a lump sum will be left over after paying our deposit. So I think I will use that in 3 ways 1/ to pay off the credit 2/ to add to our emergency fund 3/ some nice new things for the new house :-)


    All in all, we are in a good place considering we are doing a big expensive thing of moving house. We had a couple of big payments that hadn't been budgeted for (search fees/survey) but with a bit of moving money around I managed to avoid the overdraft. DH accounts are all up to date so fingers crossed in continues!!!
    DFD September 2017
    • sugarcube84
    • By sugarcube84 6th Jul 17, 1:19 PM
    • 541 Posts
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    sugarcube84
    No news yet, the mortgage comapny asked a few questions about when the house flooded in 2015 which the broker has answered and returned. they siad 2 working days so fingers crossed we get something on Friday.
    DFD September 2017
    • sugarcube84
    • By sugarcube84 7th Jul 17, 3:16 PM
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    • 549 Thanks
    sugarcube84
    The valuation has now been approved so we are just waiting on the offer now. I spoke to our solicitor who has commenced searches and confirmed that we have received the sellers draft contract. Its all ticking along nicely, no idea when we will be in but I would guess end of Aug/beginning Sept. So excited!!
    DFD September 2017
    • sugarcube84
    • By sugarcube84 11th Jul 17, 2:24 PM
    • 541 Posts
    • 549 Thanks
    sugarcube84
    Woohoo we have an offer, I can finally relax a bit (Not going to happen I'm a control freak lol) but I've been having a big think and as desperate as I am to be in our new home I'm not going to push too much for a couple of reasons


    1/ our buyer/seller's dad is very poorly and I don't want her to spend time concentrating on the move to the detriment of spending time with her dad. I don't want our house to forever remind her that she missed out on time with him/missed an important call because she was chasing solicitors etc


    2/ the longer we stay here the more money I will be able to save :-)


    So I will just keep it ticking along nicely, so exciting!!!
    DFD September 2017
    • sugarcube84
    • By sugarcube84 17th Jul 17, 12:17 PM
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    sugarcube84
    I have just updated the banks and worked out that next month I will have enough put aside to pay off the credit card in full if I wanted to, so I could be classed as debt free as my savings will exceed my debts....but... I'm not going to pay it off. I'm going to keep it stashed, just to be on the safe side, until we are in our new house and all the new payments have been set up. I know that the first new mortgage payment is a lot higher than our normal monthly payments and if the 1st new one and last old mortgage payment went out in the same month then we might struggle and it would be nice to have a chunky emergency fund to fall back on.


    Once all the payments are set up and the budget is updated then I will pay off the credit card. Plus there could be loads of things wrong that we might need to sort ASAP, so having some saving could be useful.
    DFD September 2017
    • sugarcube84
    • By sugarcube84 8th Aug 17, 11:09 AM
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    sugarcube84
    Still no news on when we might exchange/complete but we are nearly at the end. Both of us have submitted enquires and the majority are answered, just one from each side outstanding. I would love to move in August but i'm away the last weekend so that is off the table and I think it might be a bit of a push to do it next weekend. I did say it would be nice to get another payday at this house and its looking more like its going to be in September which is fine but we are away the 2nd weekend so that's another date crossed off. Although perhaps we could complete Mon-Thurs rather than Friday which would give us a bit more flexibility.


    I really want a date so I can re do my budget!!
    DFD September 2017
    • sugarcube84
    • By sugarcube84 12th Sep 17, 11:12 AM
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    sugarcube84
    We are exchanging today and completing/moving on Friday. Woohoo!!!


    We have decided to move ourselves to keep the costs down, we are calling in a favour with the father in law who my dh helped move a number of times over the years, the last time being last month. My friend is also travelling to help us, she lives a couple of hours away, as I have helped her move a couple of times as well. So that's help on the Friday and then the Saturday/Sunday as well :-)


    All the funds have been transferred to the solicitor and we have a nice little nest egg leftover, some of this is paying off the last of the credit card and some will be saved for house jobs. So we are officially debt free as well as having a new house.


    It has been a long journey, I started this diary on 10/09/11 so almost exactly 6 years ago, things got worse before they got better but I can honestly say we are stronger for having done it. Dh wasn't on-board when we began but he is 100% now, and we are teaching our ds the importance of saving.


    Off to update my signature for the last time.
    DFD September 2017
    • crunch_time
    • By crunch_time 13th Sep 17, 7:49 PM
    • 1,012 Posts
    • 2,668 Thanks
    crunch_time
    Congratulations on being debt free! You have worked so hard!

    What's next?
    Crunchy xx
    LBM June 2014. Original debt £23,555 vs Now £0 Paid off in April 2017. Since then lost my way a bit and then decided to move house and start a new course...
    NEW LBM: 16/9/17 NEW DEBT: £7232 Now: £6564 Paid off £668
    Dog/New House savings £1519 Long term savings (finally) £840
    • sugarcube84
    • By sugarcube84 14th Sep 17, 10:12 AM
    • 541 Posts
    • 549 Thanks
    sugarcube84
    Thanks!!


    What's next......


    In the next year
    Sort out the upstairs of the new house, new boiler to get rid of water tank, move a wall, skim all the bedrooms, build a bed for ds in the box room. Decorate all the bedrooms and new bathroom.


    1-2 years
    start looking into architects and getting some plans drawn up for the extension.


    2-4 years
    Save for extension


    Year 5
    Extension and decorate downstairs


    and now that we have the room.... we will probably get a puppy next year as our dog has been very lonely since we lost our little dog and who knows maybe another little sugarcube at some point :-)


    Once the house is sorted the long term plan is to overpay the mortgage and get it paid off early.


    So lots of plans, all really exciting!!!
    DFD September 2017
    • sugarcube84
    • By sugarcube84 18th Sep 17, 12:03 PM
    • 541 Posts
    • 549 Thanks
    sugarcube84
    and we have officially moved in!!! Still loads to sort and looks like a few items need replacing (Fridge/shower/dishwasher) all manageable and i'm not going to rush, going to do a bit of bargain hunting :-)


    To Do List


    - Order skip
    - Sort wardrobes and unpack clothes
    - clean hoover (all the filters need washing)
    - Research/order replacement fridge/dishwasher/shower
    DFD September 2017
    • sugarcube84
    • By sugarcube84 11th Oct 17, 2:41 PM
    • 541 Posts
    • 549 Thanks
    sugarcube84
    Well we have been in nearly 4 weeks now, I have bought a new fridge/freezer and dishwasher although the dishwasher hasn't been plumbed in yet. The shower is still working (just very noisily!!) so I haven't rushed into buying one yet. Unfortunately despite me hovering the carpets within an inch of their life both ds and dh were still struggling with the dust so we paid £180 to have the carpets and couch professionally cleaned, it was well worth the money as the house looks and smells much better and ds/dh can breathe much more easily.


    We still have boxes to unpack but some of it came out of the loft so we just need to find an appropriate place to put it. I have also done the majority of the xmas shopping (waited until we moved so I didn't have to move it!!) already saved £80 from my budget for the presents bought to date. Although i did buy a new xmas tree (not budgeted for) as the new house is much bigger and the old one would have got lost!!


    All in all we are settling in nicely :-)
    DFD September 2017
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