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  • FIRST POST
    • DD265
    • By DD265 31st Aug 16, 3:37 PM
    • 1,269Posts
    • 3,188Thanks
    DD265
    Ready to be debt free
    • #1
    • 31st Aug 16, 3:37 PM
    Ready to be debt free 31st Aug 16 at 3:37 PM
    I've been here before and then lost focus.

    I currently owe £6187.53 on two credit cards, all interest free at present. Last year I was raking it in on the bonus scheme at work and would pay off over £1000 a month across several debts. This year my targets are not achievable and although I had a pay rise I'm still bringing home less and therefore I don't feel like I'm making any significant progress.

    Now for my confession: £3800 of that has been spent this year. That's a real eye opener - and I do have a list of exactly what it was spent on too. If I hadn't done that, I'd be well on my way to clearing the other card within months.

    I have YNAB and can see two key areas to cut back, one easier than the other.

    1) unnecessary supermarket/snack spending. You know the £5 here, £3 there that all adds up, despite the fact that you did a meal plan and a weekly shop.

    2) this is tough; I have a horse who's recently retired. At £600 a month he costs the same as what I contribute to our home/bills. He hasn't been 100% for years but he's healthy and happy enough to be a pet so I'm in the see-how-it-goes camp at the moment. A large part of the £3800 was a throw-everything-at-it last attempt to get him being ridden happily, and we did have a really good couple of months so whilst I do regret some of the spending, I really appreciate those memories too.

    My plan is to find/make the funds to start making over payments on the card with the largest balance. I do reasonably well selling on eBay and I've a mountain of things still to put on as well as some currently active listings. I hate having to wait days/weeks between making extra payments so I'm hoping the eBaying will still let me feel like I'm doing something useful.

    Wish me willpower
Page 7
    • DD265
    • By DD265 21st Apr 17, 7:02 PM
    • 1,269 Posts
    • 3,188 Thanks
    DD265
    I am feeling decidedly mardy this evening. I had an expensive collectors item on eBay and was asked if I'd put it on hold for somebody. I did that (by increasing the listing price unreasonably until it ended, then relisting on a given day) and they've bought it, but now when it comes to paying they have started asking questions about the item. Hopefully I'm stressing over nothing and they'll come through.

    If they don't pay, I'll need to take some money out of savings though I may be able to put it back next week when I've been paid. It grates but I'm reminding myself that this is why I have savings. Basically I have £85 to last me a week - and need probably £25 of that for fuel - but I've also got to pay my Pilates classes today which is £80 (or I lose my place; they charge earlier than expected) and my WeightWatchers membership is due at £30 (for 6 months, through Vitality).

    I've been looking at car reviews but there's just too much choice, so I've put a thread in the motoring part of this forum for a bit of guidance.

    Now I am watching the cats have a mad half hour, and wishing I had that much energy! There's a lot of procrastination going on here today.
    MBNA: £4382.94/£6000 - 27% paid
    Savings: £1000.00
    • Bobarella
    • By Bobarella 22nd Apr 17, 8:28 PM
    • 10,467 Posts
    • 69,397 Thanks
    Bobarella
    How annoying about the item!
    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
    • DD265
    • By DD265 23rd Apr 17, 9:21 AM
    • 1,269 Posts
    • 3,188 Thanks
    DD265
    Yup, as predicted it fell through. After clarifying my options on the eBay board, I cancelled the transaction so I'm not out of pocket. It's very irritating but I suppose I'll take the opportunity to re-do the listing as I've cycled it several times now.

    I have transferred £100 out of savings with the view to putting it back when I've been paid. May is not forecast to be as expensive as April, thankfully. It still sucks to do it, but it got me wondering what I would class as an emergency. "Anything I need but can't afford to pay outright" I guess. You could argue that the Pilates course wasn't strictly a necessary expense but diesel is, and I would agree, but at the same time I need to fix my body and Pilates is helping me do that.

    I started the ball rolling on giving the car back, and we're going to test drive a couple today. I haven't done the money transfer yet and I'm deliberately not, to deter a purchase. If my family member says that one of the cars we see is too good to pass up as we won't find another (doubtful, as there is plenty of choice) then I'll worry about it then. I was told to allow 2-3 weeks for my car to be collected, once I've signed and returned the form. Then I found out about just doing a VT in writing and refusing to sign the forms, to save mileage charges etc, and I'm not sure whether I have the lady-balls to do that.

    Just in the process of working out the cheapest way to make the purchase, playing off money transfers vs interest free purchase vs balance transfers.
    Last edited by DD265; 23-04-2017 at 9:25 AM.
    MBNA: £4382.94/£6000 - 27% paid
    Savings: £1000.00
    • Bobarella
    • By Bobarella 23rd Apr 17, 6:14 PM
    • 10,467 Posts
    • 69,397 Thanks
    Bobarella
    Just goes to show we all need savings. But it's funny how it always feels uncomfortable spending them, and how much easier it still is to borrow instead of use them. Or that's how I feel.
    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
    • DD265
    • By DD265 23rd Apr 17, 9:41 PM
    • 1,269 Posts
    • 3,188 Thanks
    DD265
    I totally agree Bob! Longer term I plan to have several different savings pots (in theory I won't feel as bad if I'm dipping into the car pot for the car, or the holiday pot for flights etc), but I still feel like I ought to be able to cover everything from what's come in each month.

    One of the cars we saw today is a strong possibility so I've to call and arrange a test drive. It's a lovely Golf 1.9 Diesel, really good condition. My compromise with this car is going to be economy; it's not as good as the Note. There is a more economical version of the Golf (near-as with the Note), but finding one appears quite tricky. I'll need to decide whether to hold out and hope I find one in decent nick, or whether to accept the lower economy.
    MBNA: £4382.94/£6000 - 27% paid
    Savings: £1000.00
    • Bobarella
    • By Bobarella 23rd Apr 17, 11:42 PM
    • 10,467 Posts
    • 69,397 Thanks
    Bobarella
    Isn't diesel expensive now? I haven't had a car in 4 years so can't be relied upon to be right but I'm sure it used to be.
    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
    • DD265
    • By DD265 27th Apr 17, 9:58 PM
    • 1,269 Posts
    • 3,188 Thanks
    DD265
    It is Bob, but still works out better for my high mileage commuting.

    Got some good news today! £3.5k pay rise.
    MBNA: £4382.94/£6000 - 27% paid
    Savings: £1000.00
    • kirtsypoos
    • By kirtsypoos 27th Apr 17, 10:44 PM
    • 2,942 Posts
    • 13,083 Thanks
    kirtsypoos
    Congrats on the payrise!
    £475/3000 OH BC(84.16% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £475/31010.23 (98.46% paid)
    Mortgage - £161,995.00 (2017 O/P £1729.74) PAYDBX 17 #006 - £16161.98/14,539.71
    • DD265
    • By DD265 10th May 17, 1:33 PM
    • 1,269 Posts
    • 3,188 Thanks
    DD265
    So some difficult decisions have been made.

    I am now the owner of a 2005 VW Golf, which actually looks immaculate in the car park at work. I'm not yet a proud Golf owner, but I will be. I have to confess that whilst in many ways it feels like a better car than the Nissan, it's still a hefty downgrade to me. The Golf had the "big jobs" done so we're mainly doing upgrades and cosmetic work until anything else crops up or we service it 6000 miles in, so about 3 months for me.

    The Note is being inspected/collected on Friday (last day it's insured, phew) so hopefully it won't cost any more than the excess mileage, as we touched up any scratches that needed it. I opted to agree to the charges and avoid the added stress of going down the letter VT route.

    My horse is being put down on Sunday. It's the right thing to do, although of course it's an awful thing to go through. I actually feel a lot better for making the decision. I will miss him but he'll always be with me.

    I am so not looking forward to updating the credit card figures in my signature, but long term it'll be worth it.
    MBNA: £4382.94/£6000 - 27% paid
    Savings: £1000.00
    • kirtsypoos
    • By kirtsypoos 10th May 17, 2:06 PM
    • 2,942 Posts
    • 13,083 Thanks
    kirtsypoos
    Sorry about your horse - even the right decisions aren't always easy.
    £475/3000 OH BC(84.16% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £475/31010.23 (98.46% paid)
    Mortgage - £161,995.00 (2017 O/P £1729.74) PAYDBX 17 #006 - £16161.98/14,539.71
    • DD265
    • By DD265 12th May 17, 4:24 PM
    • 1,269 Posts
    • 3,188 Thanks
    DD265
    Thanks Kirtsypoos. If I could turn back the clock and have a ground-hog decade I totally would, but it's not to be

    The Note is gone. A charge of about £100 (assuming RCI Finance bother with it) for two dings in the body work - one is definitely somebody opening the door on it, not sure about the second. Could've been worse. Estimating around £300 including the excess mileage.

    I've paid for the collection and cremation, it was £180. I always expected to have to pay £1000+ for it, but I think that must be emergency vet with injection plus collection plus individual cremation and ashes back. I've opted for humane gun (as from my reading this carries less risk and it's quickest) and group cremation, with no ashes returned. Partly because I don't want to drag it out, and partly because his ashes aren't him.

    Just got to get through the weekend - and probably the rest of the month, to be fair - and then can look ahead to the future when I suddenly have "extra" money to budget with.
    MBNA: £4382.94/£6000 - 27% paid
    Savings: £1000.00
    • DD265
    • By DD265 14th May 17, 7:39 PM
    • 1,269 Posts
    • 3,188 Thanks
    DD265
    It's done. I feel lost right now; like I should be doing something but I don't know what the something is.
    MBNA: £4382.94/£6000 - 27% paid
    Savings: £1000.00
    • ada-or-ardor
    • By ada-or-ardor 14th May 17, 8:39 PM
    • 131 Posts
    • 501 Thanks
    ada-or-ardor
    Delurking just to say thinking of you, it's such a horrible decision to have to make but I'm sure he's in a better place. Take care x
    • kirtsypoos
    • By kirtsypoos 15th May 17, 11:08 AM
    • 2,942 Posts
    • 13,083 Thanks
    kirtsypoos
    I'm so sorry DD, it's not easy. Take care of yourself.
    £475/3000 OH BC(84.16% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £475/31010.23 (98.46% paid)
    Mortgage - £161,995.00 (2017 O/P £1729.74) PAYDBX 17 #006 - £16161.98/14,539.71
    • DD265
    • By DD265 15th May 17, 9:49 PM
    • 1,269 Posts
    • 3,188 Thanks
    DD265
    Thank you both. Tomorrow after work I think I will go to collect our things from the stables. It's going to be hard going up there with no pony to see, so I might arrange to meet a friend. I think I'll feel better for doing it although there's no rush if I'm not ready when it comes to getting in the car.

    Today I was off work and have indulged in a little retail therapy, and did some small errands. I bought us a meat slicer for the kitchen; like the circular ones you see at deli counters only not as big. It was less than £30 at Argos and quite good fun to use. I could never have sliced our roast beef that thin even with the electric carving knife.

    Also bought a couple of small copper lanterns from TK Maxx - it cost less than £10 for the two - as our wedding decor is going to involve a lot of copper lanterns. I was thinking of buying in bulk from China but haven't explored the costs yet, and it'd be good to have a few different ones.

    I had my engagement ring cleaned in town which was free at H Samuel. The lady pointed out that it would benefit from being replated at some point (oops.. I've only had it a year!) but it'd have to be sent away for a couple of weeks. I don't like being without it. The plan was to wait for the work discount scheme to have significant (25%) money off gift cards/vouchers for H Samuel/Ernest Jones. I'd buy those, then wait for H Samuel/Ernest Jones to put diamond rings on sale. Then I'd buy my wedding band and a second engagement ring (the same as the first) so that the engagement ring didn't look old compared to the band. I need to check what replating will actually achieve though in terms of any scratches etc. Maybe I'll buy a cheap stand-in ring, send mine off to be replated, and just use that and the wedding band together. But probably not.

    I also booked the registrar for our wedding, and the appointment to give notice of marriage. It's going to cost us £450 in total which feels like a lot, but it's kind of the most important bit so we have to pay it.
    MBNA: £4382.94/£6000 - 27% paid
    Savings: £1000.00
    • triple choc chip
    • By triple choc chip 15th May 17, 10:22 PM
    • 803 Posts
    • 2,829 Thanks
    triple choc chip
    Hi DD265
    I think you've been very brave making one of the hardest decisions for pets large or small, we all know how you feel.
    Do you have any small independent jewellers locally? I recently got my rings re-rhodiumed, they did them on the premises in one hour, £55 for both.
    TCC
    Life's greatest satisfactions: Getting the last laugh, having the last word and paying the last instalment.
    Debt Free since 6.8.13
    Saving for Xmas 2017 #3: £456/£650 70%
    Emergency fund £1k
    • DD265
    • By DD265 16th May 17, 12:11 PM
    • 1,269 Posts
    • 3,188 Thanks
    DD265
    Thanks TCC. I will have a look at the local independent jewellers as we have a couple.

    Sooo... credit cards. The MBNA card has taken a right bashing. I reckon it's going to stop just short of £6500 (I am waiting for RCI Finance to invoice me for the excess mileage/bodywork, estimate £300ish). This means that based on my current estimates in December my finances will look like:

    MBNA: -£601.41
    Barclaycard: £0.00
    Savings: £1400.00 (probably a little higher)

    So if it comes to it, I'll use savings to clear the MBNA balance. The figures above are based on paying £800 a month off the MBNA card, £100 a month off the Barclaycard and £100 a month into my savings account. This should all be achievable through my basic salary given my reduced outgoings (car setup costs aside!) and increased basic pay.
    MBNA: £4382.94/£6000 - 27% paid
    Savings: £1000.00
    • DD265
    • By DD265 19th May 17, 4:58 PM
    • 1,269 Posts
    • 3,188 Thanks
    DD265
    I need to start thinking about eBay sales again soon; it's been a while since I've had any up. I've brought all of my horse's things back home barring the rugs which will go for washing, so I need to clean it all and then decide what to keep/donate/sell. There's a local horsey car boot next week but I don't think I'll have it all ready by then and I'd rather have it all clean so I can price it a bit higher.

    I want to start visiting our local car boots as well. We're planning to decorate the wedding venue with lots of copper lanterns and candles; strikes me as the sort of thing we should be able to pick up fairly cheaply.

    The next finance thing is our contents insurance. The renewal came in at more or less the same price as last year (£85) but it sounds like it can go down to £55 with a slightly higher excess - just waiting on the quotation to be emailed through.

    I re-did my "basic salary budget" yesterday and I quite like how it looks having cancelled a standing order and a direct debit. This didn't take into account my pay rise because I don't know what my new basic salary is. There's still a bit of room for improvement because I included a £500 expenses claim but that's reasonably consistent. I'm looking forward to having the credit cards paid off.
    MBNA: £4382.94/£6000 - 27% paid
    Savings: £1000.00
    • DD265
    • By DD265 1st Jun 17, 1:29 PM
    • 1,269 Posts
    • 3,188 Thanks
    DD265
    It was pay day yesterday. There was a small additional payment so I still don't know my new basic but more importantly, this is my first month without the car and livery payments.

    I have topped my savings up to £1000 - forgetting about the standing order for £50, and then Lloyds Save the Change. I will leave the extra £50 in for now and keep that standing order going. I've got £100 coming off the Barclaycard and I've rounded the MBNA card down to £6000.

    That's basically it for this month. I could use a financially-uneventful one!
    MBNA: £4382.94/£6000 - 27% paid
    Savings: £1000.00
    • DD265
    • By DD265 16th Jun 17, 9:12 PM
    • 1,269 Posts
    • 3,188 Thanks
    DD265
    I often wince a little when I update the budget mid month after not touching it for a little while, and today is no different.

    It turned out that the new head unit I'd bought for the car, which had satnav and bluetooth and cost £365 (used!) didn't have bluetooth afterall. So eBay claim raised and waiting for refund. Unfortunately it cost me a £60 call out for the guy to come with a view to testing it. We have since however fitted a Parrot Kit, and he also fixed some wiring to the boot lights/wiper, which cost £260 in total so long run still cheaper.

    I've opened a cash Lifetime ISA - just put £1 in for now but will see if I can't get £4k in there before the April deadline. It seems unlikely due to the wedding costs but you never know! I have told OH to open one too. Perhaps any money we get as wedding gifts can go in them. As we don't own a home, but hope to buy in 2019 realistically, then it could work out really well for us.

    I have a load of stuff to sell and next weekend free so I'm looking forward to making a dent. Although we aren't especially short on space, I do like to have things clutter free. You wouldn't know it looking at my desk mind! Mainly I'd like the money, as I don't like having such a high balance on the MBNA card.
    MBNA: £4382.94/£6000 - 27% paid
    Savings: £1000.00
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