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  • FIRST POST
    • Seasidegal58
    • By Seasidegal58 18th Sep 16, 1:27 PM
    • 906Posts
    • 4,757Thanks
    Seasidegal58
    Paid off the £31,000! BUT - still scrimping!
    • #1
    • 18th Sep 16, 1:27 PM
    Paid off the £31,000! BUT - still scrimping! 18th Sep 16 at 1:27 PM
    Hereís to my new shiny diary now that I am debt free!

    I have finished my previous diary which detailed my debt free journey. This went well for some months Ė I then failed dismally, managed to pull myself together to pay off half then had a lucky windfall which cleared the rest. If you want to have a look itís called ďScrimping Behind the Scenes Ė with Debt of £31,000!Ē (sorry, I canít manage to get the link to work!).

    In the diary I detailed how I was trying to pay off the debt without alerting the fact to family and friends as I was too embarrassed to let anyone know the extent of my folly!

    I have however decided to carry on scrimping as I have a few retirement issues coming up. One of the things that will make scrimping easier is that I donít have to do this in secret anymore! My reasons for cutting back financially will be out there for friends and family to see Ė which will let some of the pressure off!

    I am now in my early sixties but my State pension will not kick in for another four and a half years. I will not be getting the full whack as I have had contracted out of the second State pension because I was a member of a previous employerís final salary scheme. Luckily this pension will take a little of the headache away and I have a couple of small DCB schemes from other employment over the years though these will not amount to much. I am in my current employerís company scheme and both they and I pay into this Ė though again itís not going to be life changing!

    I calculate that I when I retire my income will be slashed by well over half so to carry scrimping would be a good run up to retirement test for me.

    A big worry is that the firm I work for was recently bought out. I have been through this sort of thing with previous employers. What tends to happen is this:

    1. Big lovey-dovey honeymoon period between new owners and old owners (who have been paid out, but stay on for goodwill).

    2. New owners and old owners start to fall out over the management of the company. The new owners want to run the company their way and old owners think they know better.

    3. Bad feeling hits all round and new owners start to have a ďpeopleĒ clear out.Ē

    Iím rather apprehensive about the possibility of a people clear out because of my age. I think I will be ok as long as my boss is there but unfortunately he is older than me!

    Accordingly, my next scrimpy goal is to fully fund my ďEmergency Fund.Ē It currently stands at £3,000- but I would like to see it at £10,000 to feel safe. If I can fund it with £1,000 per month (like I did with my debt), I will have £10,000 by end April next year.

    So today is going to be a NSD. I have £26.90 left spending money and £18.33 in the grocery budget till I get paid next Friday.

    So here we go again Ė interesting times!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Save for New Kitchen!
    My debt free diary - " Paid off the £31,000 - BUT still scrimping!"
Page 14
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 21st Sep 17, 9:32 PM
    • 1,409 Posts
    • 3,699 Thanks
    HairyHandofDartmoor
    Thanks SG I'll investigate that. I hope fitbit fall for your hints and offer you a new one soon
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt at highest = £58,766
    Current debt = £16,234, Emergency Fund = £200
    Long Hauler No. 156 Spendaholics Anonymous No. 47
    • Sun Addict
    • By Sun Addict 22nd Sep 17, 9:37 PM
    • 4,423 Posts
    • 24,722 Thanks
    Sun Addict
    When I got my first Fitbit, I bought it online from a site a lot cheaper than anywhere else. I hadn't had it long before it stopped working. I contacted Fitbit support just hoping for a fix. They sent me a replacement and told me to bin my broken one. I reckon I'd been sold a fake and they knew about this particular website. Fab customer service. They need to make their straps more secure though, we pay a lot of money for their product.
    Virtual Sealed Pot £656.24
    October NSD 5/15
    Weight loss 0/7lbs
    Mr SA finally in remission December 2013
    • Seasidegal58
    • By Seasidegal58 24th Sep 17, 11:06 AM
    • 906 Posts
    • 4,757 Thanks
    Seasidegal58
    Fitbit have contacted me and have me to provide some more info. As my Fitbit was a gift last Xmas they want to know when it was purchased so I've texted DSis to find out so still looking hopeful

    On Friday night I got home to a letter from HMRC informing me that I owe them just over £1000 in unpaid tax for the last tax year! looking at the breakdown they've supplied most of it comes from my work Benefits in Kind - namely my medical insurance which now increases every year because of my age. My P11D is in work so I'll have to have a good look tomorrow. I'm gutted - what with the tooth and now this. HMRC have said they will start to take it as from next tax year in equal payments over twelve months from my salary so that will knock my monthly savings down.

    Well at least I got £5.70 yesterday from the dress agency!

    Surveys have been very quiet. Haven't made anything since 15p yesterday on One Poll!

    Pay day tomorrow so will be working out budget this evening.

    Got up this morning, showered and then thoroughly cleaned bathroom. Have just finished breakfast so will get rest of cleaning finished. Going to start packing things away in suitcase today in readiness for hol next week. Only two days left in work. Hooray! though will be very busy as off for two weeks.

    SSG x
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Save for New Kitchen!
    My debt free diary - " Paid off the £31,000 - BUT still scrimping!"
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 24th Sep 17, 1:54 PM
    • 1,409 Posts
    • 3,699 Thanks
    HairyHandofDartmoor
    Ouch to the tax bill what a horrible shock! At least you can pay it over 12 months. Has that ever happened before or are the work benefits new?
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt at highest = £58,766
    Current debt = £16,234, Emergency Fund = £200
    Long Hauler No. 156 Spendaholics Anonymous No. 47
    • Seasidegal58
    • By Seasidegal58 24th Sep 17, 8:52 PM
    • 906 Posts
    • 4,757 Thanks
    Seasidegal58
    Ouch to the tax bill what a horrible shock! At least you can pay it over 12 months. Has that ever happened before or are the work benefits new?
    Originally posted by HairyHandofDartmoor
    I've always had some sort of BIK HairyHand. Basically we have a system whereby we are given X amount on top of our salary to use towards a selection of benefits e.g. critical illness insurance, childcare vouchers etc, it's down to what you want to select. Most of mine goes on my medical insurance but I have to pay tax on it. We changed benefits provider over a year ago and have also switched medical insurers. The new plan penalises you on age so I'm paying a lot more than I used to so the tax is higher. I've got to the point where I don't want to drop it in case I really do need it! I've used it to see two consultants already this year. The other annoying thing is that any surplus cash you don't use goes straight into your company pension but I hardly have any surplus over these days. I'm still going to check out HMRC's calculation though.

    Anyway it's pay day tomorrow so have been sorting out my budget for the month and bashing figures into YNAB!

    Looking back on Scrimpy September the positives and negatives were:

    Negatives:
    - horrendous dental bill to come!
    - awful tax bill!
    - lost Fitbit!

    Positives:
    - my emergency fund which will cover the cost of the dentist. In the good old days I would be running up the bill on my credit card.
    - very, very lucky to have medical insurance as I've been able to see consultants and have scan/ X-ray promptly.
    - lovely, helpful advice on Fitbit from my virtual friends which may mean I'll get a new one;
    - little scrimpy things that will build up - discount on annual Railcard, starting online surveys, rebates from BBC store, extra Cashback on Co-op shop.

    Also treated to lovely meal by friends AND my gym is going well and I've been sticking to it so at least there must be some muscle developing somewhere!

    SSG x
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Save for New Kitchen!
    My debt free diary - " Paid off the £31,000 - BUT still scrimping!"
    • JWPopps
    • By JWPopps 24th Sep 17, 9:14 PM
    • 253 Posts
    • 1,309 Thanks
    JWPopps
    Hi SSG,

    Your positives list looks really good, I'm sorry to hear about the tax bill - no one needs that!! Sounds all very complicated with the BIK. We have a Health Cash Plan through work but they cover it so it doesn't appear on our salary statements anywhere.
    Credit Card Debt: £572.37
    Loan Debt: £6,454.65
    Savings: £170



    [B]PAYDBX 2017 - #19 : 57% paid 4715/8280[/
    • Seasidegal58
    • By Seasidegal58 24th Sep 17, 9:39 PM
    • 906 Posts
    • 4,757 Thanks
    Seasidegal58
    Hi JW - it doesnt appear on our payslips but the firm report all the BIKs back to the Revenue along with the tax paid. It'll be on my P11D which I can access online at work so I'm checking it out tomorrow.

    SSG x
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Save for New Kitchen!
    My debt free diary - " Paid off the £31,000 - BUT still scrimping!"
    • Sun Addict
    • By Sun Addict 25th Sep 17, 9:09 PM
    • 4,423 Posts
    • 24,722 Thanks
    Sun Addict
    Boo to the tax bill Always best to double check it though.
    Virtual Sealed Pot £656.24
    October NSD 5/15
    Weight loss 0/7lbs
    Mr SA finally in remission December 2013
    • Seasidegal58
    • By Seasidegal58 25th Sep 17, 10:16 PM
    • 906 Posts
    • 4,757 Thanks
    Seasidegal58
    Well today was really unproductive. Didn't sleep too well last night - which is very unusual for me. So then overslept so everything was a rush to get to work. Forgot my lunch and then succumbed to pastry and latte from Pret for breakfast.

    I expected a busy day at work today but we had a big IT upgrade over the weekend. The whole firm has finally gone over to parent company's systems and it was the usual first day chaos. All my emails and contacts had disappeared among other things and I won't get them back till tomorrow morning! Basically I probably got a quarter of the workload I wanted to get done and it's my last day tomorrow before I go off on holiday. So I'll be working late tomorrow night and have had to let my friend know I can't make her dinner party. I'm shattered tonight and feel wound up for tomorrow. Plus I never got any of the jobs done that I wanted to do: get my euros, sort out the tax business, ring travel insurer to let them know I'd been to see consultants etc.

    Hope tomorrow is better!

    SSG x
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Save for New Kitchen!
    My debt free diary - " Paid off the £31,000 - BUT still scrimping!"
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 26th Sep 17, 9:23 PM
    • 1,409 Posts
    • 3,699 Thanks
    HairyHandofDartmoor
    Ouch what an annoying day SG, not what you want just before you go away .

    You'll really enjoy the break when it comes though .
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt at highest = £58,766
    Current debt = £16,234, Emergency Fund = £200
    Long Hauler No. 156 Spendaholics Anonymous No. 47
    • Scott_Weiland
    • By Scott_Weiland 26th Sep 17, 9:40 PM
    • 597 Posts
    • 1,407 Thanks
    Scott_Weiland
    My cousin hit her target last count they were at 33000. Thanks
    Debts 16125.64
    Cashback Earnings YTD £164.10 Survey Earnings YTD £503.96
    • Scott_Weiland
    • By Scott_Weiland 26th Sep 17, 9:46 PM
    • 597 Posts
    • 1,407 Thanks
    Scott_Weiland
    I've always had some sort of BIK HairyHand. Basically we have a system whereby we are given X amount on top of our salary to use towards a selection of benefits e.g. critical illness insurance, childcare vouchers etc, it's down to what you want to select. Most of mine goes on my medical insurance but I have to pay tax on it. We changed benefits provider over a year ago and have also switched medical insurers. The new plan penalises you on age so I'm paying a lot more than I used to so the tax is higher. I've got to the point where I don't want to drop it in case I really do need it! I've used it to see two consultants already this year. The other annoying thing is that any surplus cash you don't use goes straight into your company pension but I hardly have any surplus over these days. I'm still going to check out HMRC's calculation though.

    Anyway it's pay day tomorrow so have been sorting out my budget for the month and bashing figures into YNAB!

    Looking back on Scrimpy September the positives and negatives were:

    Negatives:
    - horrendous dental bill to come!
    - awful tax bill!
    - lost Fitbit!

    Positives:
    - my emergency fund which will cover the cost of the dentist. In the good old days I would be running up the bill on my credit card.
    - very, very lucky to have medical insurance as I've been able to see consultants and have scan/ X-ray promptly.
    - lovely, helpful advice on Fitbit from my virtual friends which may mean I'll get a new one;
    - little scrimpy things that will build up - discount on annual Railcard, starting online surveys, rebates from BBC store, extra Cashback on Co-op shop.

    Also treated to lovely meal by friends AND my gym is going well and I've been sticking to it so at least there must be some muscle developing somewhere!

    SSG x
    Originally posted by Seasidegal58
    Stick with the surveys they do pay trust me, some days there will be nothing other days loads.

    Perserverence

    And if your buying it online use top cashback, i tried quidco and its obvious how they as a company make there money :-(
    Debts 16125.64
    Cashback Earnings YTD £164.10 Survey Earnings YTD £503.96
    • crunch_time
    • By crunch_time 27th Sep 17, 9:18 AM
    • 1,011 Posts
    • 2,665 Thanks
    crunch_time
    Good to look at the positives seasidegal.

    Not long till your holiday!

    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
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 27th Sep 17, 8:52 PM
    • 1,409 Posts
    • 3,699 Thanks
    HairyHandofDartmoor
    Hope you had a better day today SG and have a great holiday .
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt at highest = £58,766
    Current debt = £16,234, Emergency Fund = £200
    Long Hauler No. 156 Spendaholics Anonymous No. 47
    • Sun Addict
    • By Sun Addict 27th Sep 17, 9:10 PM
    • 4,423 Posts
    • 24,722 Thanks
    Sun Addict
    Happy holiday, make sure you relax and forget about it all xx
    Virtual Sealed Pot £656.24
    October NSD 5/15
    Weight loss 0/7lbs
    Mr SA finally in remission December 2013
    • Seasidegal58
    • By Seasidegal58 27th Sep 17, 10:23 PM
    • 906 Posts
    • 4,757 Thanks
    Seasidegal58
    Thanks everybody! I'm at the hotel at the airport. I'm getting up at an unearthly time in the morning so set iPad alarm for 3am and iPhone alarm for 3.15am! So nervous I'll oversleep And of course I don't feel tired yet

    Last night I worked late to tidy up and make notes for the lad who will be helping out the boss while I'm away (he's rung me today already!). Had pedicure and nails done today so feel a bit more human! Had nightmare long conversations with my travel insurer because I thought I'd better let them know about my consultant visits. Needless to say if my blood pressure was raised before the calls it has probably zoomed of the Richter Scale now! Anyway at least I'm insured for this trip!

    I picked up an extra £323 in the pay packet this month because my season ticket loan from work which is taken out over 10 months finished last month so the extra cash has gone towards the holiday. However I had euros left from my last trip abroad and this holiday is near enough all inclusive so I shouldn't be spending much.

    So I'm off to bed now!

    SSG x

    P.S lovely Fitbit people are sending me a new Fitbit!!!! thanks everyone for your advice.
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Save for New Kitchen!
    My debt free diary - " Paid off the £31,000 - BUT still scrimping!"
    • Sun Addict
    • By Sun Addict 28th Sep 17, 8:50 PM
    • 4,423 Posts
    • 24,722 Thanks
    Sun Addict
    Fab news re the Fitbit. Their customer service is wonderful.

    Have a lovely holiday I'm the same as you with holiday alarms, convinced I won't wake up on time. At least this time the flight is 9am, need to be at the airport for 7am, so perfect time
    Virtual Sealed Pot £656.24
    October NSD 5/15
    Weight loss 0/7lbs
    Mr SA finally in remission December 2013
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 28th Sep 17, 8:59 PM
    • 1,409 Posts
    • 3,699 Thanks
    HairyHandofDartmoor
    Brilliant news about the Fitbit .

    Hope you manage to sleep and have an amazing holiday .
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt at highest = £58,766
    Current debt = £16,234, Emergency Fund = £200
    Long Hauler No. 156 Spendaholics Anonymous No. 47
    • JWPopps
    • By JWPopps 29th Sep 17, 10:35 AM
    • 253 Posts
    • 1,309 Thanks
    JWPopps
    I hope you have a wonderful holiday, and that's brilliant news about the fitbit, I might consider buying one now!
    Credit Card Debt: £572.37
    Loan Debt: £6,454.65
    Savings: £170



    [B]PAYDBX 2017 - #19 : 57% paid 4715/8280[/
    • Seasidegal58
    • By Seasidegal58 3rd Oct 17, 5:36 PM
    • 906 Posts
    • 4,757 Thanks
    Seasidegal58
    Thanks everyone

    Well got back from trip last night. Walked through the door at 11.15pm - had a full on day - Roman archeological site in the morning, lunch and then walked up and down Vesuvius and drove on to airport! rest of the trip was fantastic including all day at Pompeii and then other small sites and a trip down the Amalfi coast.

    Still trying to work out how I spent Ä139 when the trip was all inclusive - but costume ring and two lovely linen scarves for me, tip for chambermaid, food and alcohol bits to take into work and for DD and DSis, lemon soaps for Xmas pressies, and drinks probably made it up! I did save on the drinks bill though as we were all shattered at the end of each day, had dinner then went to bed! Met some lovely people on the trip as well.

    So had nice lie-in today, did some washing and I'm at home till Friday when I'm off to visit DD for the weekend. I'm at the gym this evening and will hopefully straighten out some of the stiffness from the big hike yesterday.

    Just over £20 is winging its way to me from PA survey site so that can go towards the dental bill! Still building up on the other sites though with quite a bit to go.

    Signing off now but will be back later to catch up with diaries.

    SSG x
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Save for New Kitchen!
    My debt free diary - " Paid off the £31,000 - BUT still scrimping!"
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