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  • FIRST POST
    • louby40
    • By louby40 17th Jun 16, 7:57 AM
    • 1,157Posts
    • 3,164Thanks
    louby40
    Round and round the overdraft....soon to be no more
    • #1
    • 17th Jun 16, 7:57 AM
    Round and round the overdraft....soon to be no more 17th Jun 16 at 7:57 AM
    Having lurked and read quite a few diaries I thought I'd start my own. If it's down on paper then I can read back and see my progress (or not)

    My debts aren't massive but my bugbear is my overdraft as I do believe if I can get that sorted everything else will fall into place

    My debts are:

    £400-500 overdraft every month PAID
    £970 cc now £250 Oct 17
    £5500 left on my car loan (ends in Jan 2019) now £3084 Oct 17
    £106,000 mortgage at £600 pm now £95,805 Oct 17
    £6500 bank of mum and dad PAID

    I have £150 in an emergency fund

    I'm just in the process of moving my current account to First Direct to take advantage of their £250 free overdraft service and £100 incentive to switch. I need to keep my o/d under the £250 and slowly begin to chip away.

    My over spends are having 2 very tall teenage boys who eat a lot and extra trips to the supermarket. I also treat myself to a manicure/gel polish every month.

    I'm a single mum and work as a teacher so I buy stuff for my class, extra craft bits, second hand books from Amazon, it soon mounts up.

    I also need to be stricter with my boys and refuse the £2.50 they ask for lunch everyday.

    I shop in Aldi and cook a lot from scratch - my slow cooker is my saviour!

    I need to keep a strict spending diary and stop buying unnecessary things.
    Last edited by louby40; 29-10-2017 at 3:56 PM.
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £250
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
Page 8
    • louby40
    • By louby40 25th Sep 16, 6:05 PM
    • 1,157 Posts
    • 3,164 Thanks
    louby40
    Good weekend.

    Not much spent, £65 on food for the week. It seems to be going up not down and there are only 3 of us living here now my eldest son is living with his dad for 5 days. We did buy wine & beer though!

    We went walking yesterday, 8 miles and felt great afterwards.

    Today I've sold a few things on ebay and got £40 which will go straight to pay the cc. That's £84 in 2 weeks. Would love it to be gone by Christmas then I can concentrate on the second one. Still working towards my debt free date of July 2017!
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £250
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • louby40
    • By louby40 28th Sep 16, 8:57 PM
    • 1,157 Posts
    • 3,164 Thanks
    louby40
    :Payday today so paid towards quite a few things. Bit confused with my Barclaycard as I have used it but paid straight back from my salary, I've also sold quite a bit on ebay, plus cashed out some surveys so I think the £371 figure may go down a bit more.

    If I could pay £124 every month until December I could have my Barclaycard paid off. My emergency fund will be £500 by Christmas so I could leave that for the time being and start paying £200 a month off my First Direct cc. That could be paid off by April.

    But Christmas madness will soon begin and everything goes a bit haywire. So, we shall see. My Christmas fund won't be quite enough.

    But my debt is now BELOW £4K!!!!
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £250
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • SpekySquarehead
    • By SpekySquarehead 29th Sep 16, 10:08 AM
    • 1,735 Posts
    • 13,590 Thanks
    SpekySquarehead
    Well done Louby on getting below £4k.

    I know you've a lot of spinning plates and various things to save for but provided you've budgeted for it, it'll work out.
    Debt Free Date: 29/09/16
    • Poor_Single_lady
    • By Poor_Single_lady 29th Sep 16, 10:19 PM
    • 1,099 Posts
    • 4,142 Thanks
    Poor_Single_lady
    Under £4k is amazing. Hope you are celebrating and making lots of lovely plans for the future. Now it starts with a 3 its a lot more achievable. Can you see the end? xxx
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • tori.k
    • By tori.k 30th Sep 16, 8:22 AM
    • 2,895 Posts
    • 6,512 Thanks
    tori.k
    Amazing Louby, it's all coming together well done
    Debit to Credit (stage 1) 3652.34 completed 15/10/16
    Debit to Credit (stage 2) 6299.09 completed 25/06/17
    Last Castle 150,000/ 25300
    • louby40
    • By louby40 30th Sep 16, 9:23 AM
    • 1,157 Posts
    • 3,164 Thanks
    louby40
    Thanks everyone!

    Yes I can see the end. I still have my car loan to pay but I need to start updating my house. I've lived here 18 months now and I need to start spending on it a bit.

    It's 12 years old and still has original (pale cream carpet) I need a new bathroom, kitchen, carpet throughout and decorating done.

    I can't start until I've got my debt to zero. By next April/May June time I'll have £500 extra to either save or put towards a home improvement loan. But I want a BIG emergency fund before I do that.

    There is light at the end of the tunnel.
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £250
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • ramblehan
    • By ramblehan 1st Oct 16, 9:41 PM
    • 400 Posts
    • 924 Thanks
    ramblehan
    Well done Louby - you are doing AMAZING!

    Ramble x
    • louby40
    • By louby40 3rd Oct 16, 7:31 AM
    • 1,157 Posts
    • 3,164 Thanks
    louby40
    My eldest son moved back home over the weekend, so that's back to 4 of us now not 3.

    He didn't like the college and living with his dad didn't work out too well. Anyway he's managed to get into another college on the same course, it's a bus journey away but he's sorted it out himself so it's obviously what he wants.

    Most bills have gone out this morning. Things are looking pretty tight but I'm just throwing everything at my Barclaycard and my car cost me £210 for a full service (long overdue not had it done for 2 yrs) and MOT - it passed!! yay! So other things have to give - like buying clothes and going out!

    Sold the last of my ebay bits which came to about £15. I doubt there's much more in the house to sell now. But over the summer I reckon I've made well over £300 by selling unwanted stuff.

    Anyway off to wake the kids up!
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £250
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • reality_check
    • By reality_check 3rd Oct 16, 1:10 PM
    • 683 Posts
    • 1,475 Thanks
    reality_check
    I've been reading your diary but never actually left a comment I don't think...Amazing news about hitting the 3's, the final countdown is on! At least your son realised now the course wasn't for him and was able to change, and you'll be glad that he's home even thought I am sure he eats you out of house and home!!

    All the new home improvements to come will be even nicer knowing they are paid from your own hard earned money and not owed to anyone else...be here before you know it xxx
    • louby40
    • By louby40 3rd Oct 16, 7:41 PM
    • 1,157 Posts
    • 3,164 Thanks
    louby40
    Thanks RC, I'm feeling very positive. It's not always easy but I'm determined to get there!
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £250
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • Poor_Single_lady
    • By Poor_Single_lady 3rd Oct 16, 9:40 PM
    • 1,099 Posts
    • 4,142 Thanks
    Poor_Single_lady
    Very much agree with Reality Check. Some of my debt is home improvements, but the next work shouldn't be. I love what I've done but I wish I wasn't paying for it for the next 2 years.
    Hope your son is ok, its so hard being young and making choices that impact the rest of your life. I would not want to be 18 again.
    Please keep us updated on your barclaycard and everything. Its so good to see that people do actually get to the end and it is possible. xxx
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • louby40
    • By louby40 6th Oct 16, 6:03 PM
    • 1,157 Posts
    • 3,164 Thanks
    louby40
    I think I've over stretched myself this month.

    I've been so obsessed with paying my cc off that I've left myself short in my actual day to day budget. I've thrown loads of money at my debt and I'm going to have to dip into my overdraft for the first time in months.

    I haven't budgeted for coffee money at work £25
    Christmas work function deposit £10
    Extra expenses due to getting out of my phone contract £20
    Money towards my sons bus travel £120 (3 months)
    Printer ink £25

    I think I need to slow down and have money so I can actually live. It's 9 days till I get my child benefit and 20 days till payday.
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £250
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • reality_check
    • By reality_check 7th Oct 16, 1:11 PM
    • 683 Posts
    • 1,475 Thanks
    reality_check
    It's so hard getting it right isn't it. In the dream would I would like an emergency fund, and also a contingency fund with maybe £250 in it for things like that, basically my own overdraft... I have tried this but I either dip into it as don't stick to my budgets as I know I have that money sitting there or I have it for a few weeks then decide to throw it at the debt as that makes me happy at the time and then left in the same situation as you.

    Do you have an emergency fund? xx
    • louby40
    • By louby40 7th Oct 16, 6:23 PM
    • 1,157 Posts
    • 3,164 Thanks
    louby40
    I have £200 in my EF, £250 in my Christmas fund and £120 in my home renovation fund.

    I had to use £200 of my EF in the summer to pay a plumber to fix a leak, so am starting again. Once it's at £500 I shall stop & throw the £100 a month at my cc instead.

    My debt is so small really I just want it gone. I'll be £500 a month better off by then.
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £250
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • louby40
    • By louby40 12th Oct 16, 10:01 PM
    • 1,157 Posts
    • 3,164 Thanks
    louby40
    Mad crazy at work and some issues with my eldest, so haven't been on here for a while.

    £100 into my overdraft but my own fault for trying to get my debt down too quickly. Luckily no charges on the first £250. Payday is 13 days away but I do get my child benefit on Monday which will tide me over.

    So need to take stock in November and calm down. I need to live as well as pay my debts off.
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £250
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • tori.k
    • By tori.k 13th Oct 16, 8:41 AM
    • 2,895 Posts
    • 6,512 Thanks
    tori.k
    Finding that balance is the truth of it.
    Debit to Credit (stage 1) 3652.34 completed 15/10/16
    Debit to Credit (stage 2) 6299.09 completed 25/06/17
    Last Castle 150,000/ 25300
    • ramblehan
    • By ramblehan 13th Oct 16, 9:43 PM
    • 400 Posts
    • 924 Thanks
    ramblehan
    Amen to living and paying off debt. You will get there - and a month or two on top of your DFD won't be something you remember in the long run xx
    • Cailbhinn
    • By Cailbhinn 16th Oct 16, 9:58 AM
    • 88 Posts
    • 275 Thanks
    Cailbhinn
    Best of luck louby. I'm a DFW n00b and enjoy reading these diaries. Gives you some perspective and insight and to how other people are coping with debt. Re: forgotten spends - couldn't you put these on to your budget on YNAB?
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Oct 2016) - £12,956 (0% paid)
    • louby40
    • By louby40 16th Oct 16, 12:27 PM
    • 1,157 Posts
    • 3,164 Thanks
    louby40
    Hi yes they're all on my YNAB - there is a lot of red on there this month. Once I get paid, YNAB can be sorted. So much for me paying £125 off my Barclaycard for the next 3 months - it will be more like £5 in November lol

    Skint this month I've just spent too much basically.
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £250
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • Cailbhinn
    • By Cailbhinn 16th Oct 16, 6:21 PM
    • 88 Posts
    • 275 Thanks
    Cailbhinn
    Hi yes they're all on my YNAB - there is a lot of red on there this month. Once I get paid, YNAB can be sorted. So much for me paying £125 off my Barclaycard for the next 3 months - it will be more like £5 in November lol

    Skint this month I've just spent too much basically.
    Originally posted by louby40
    With it coming up to the dreaded C word, I think my Nov/Dec YNAB will be an ugly shade of red and minimum CC payments only those months. I read earlier that it's a 'marathon and not a sprint'. Sums it up nicely and as YNAB says - 'roll with the punches'.
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Oct 2016) - £12,956 (0% paid)
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