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    • Seabiscuit
    • By Seabiscuit 21st Sep 16, 2:59 PM
    • 34Posts
    • 64Thanks
    Seabiscuit
    Time to get a grip!
    • #1
    • 21st Sep 16, 2:59 PM
    Time to get a grip! 21st Sep 16 at 2:59 PM
    I've been lurking on these forums for ages picking up loads of fab money saving tips and have finally decided to start a diary to document my debt free journey and keep me motivated.

    I've currently got £7k-£8k of debt spread across 3 credit cards, an overdraft and catalogue. These mainly comprise of car repairs and eventual replacement of my nightmare car and a horrendous string of vets bills that the insurance wouldn't touch, with a little bit of general living beyond our means thrown in. Repayment has been at a minimum for the last year as I've been on maternity leave, however I'm due my first pay packet in a couple of weeks so I'm taking the opportunity to start as I mean to go on.

    As well as my finances I'm going to use this diary to keep me on track with other aspects of my life. My house is a cluttered tip and it drives me mad so will use this to try and help me put some order in place there. I'm also going to use it to keep me on the right track with my weight and fitness. I've lost just over 2 stone since having my little boy but would like to lose another stone. I've recently taken up running as I no longer have the time or money for the gym - I love it! Would love to run a half marathon next spring so I'm going to use this diary to help keep me on track with that.

    So..... Goals for 2016/2017........
    1. Pay off at least 5k
    2. Lose 1 stone
    3. Run half marathon
    4. The most important one, give my little one the best life possible
Page 2
    • Seabiscuit
    • By Seabiscuit 3rd Oct 16, 7:50 PM
    • 34 Posts
    • 64 Thanks
    Seabiscuit
    Hi Thistle-down, gutted about the car, I've only had it just short of a year and it's the newest car I've owned. We were forced into buying it just after little one was born as my old car was just to unreliable and we'd thrown a stupid amount of money at it, so we thought we were doing the best thing by part exchanging it - nevermind

    The horses are all pampered pets - one retired cob and two Shetties . It's hard work juggling them, the little one, work and dogs, but I can't imagine being without then them.

    Had a few eBay sales totalling £22 and have £4 bids on items ending tonight. Fingers crossed the bids continue rolling in.....
    Last edited by Seabiscuit; 04-10-2016 at 6:03 AM.
    • Seabiscuit
    • By Seabiscuit 4th Oct 16, 6:13 AM
    • 34 Posts
    • 64 Thanks
    Seabiscuit
    Morning!
    Rough night with the little man - he was up at 2 and then 3:30 and 5:30. Going to be a long day at work today!

    eBay sales finished at £9 last night, just waiting for one buyer to pay. Won't have chance to get to the post office today due to work and lack of car but will get everything packaged up tonight ready to send tomorrow. Have another couple of items ending later with £12.00 bids so far.

    Will feel a lot better once I know how much the car is going to cost - that way I can start planning his we're going to tackle it. The money transfer has landed in the account this morning so all ready for the huge bill!
    • Seabiscuit
    • By Seabiscuit 9th Oct 16, 7:23 PM
    • 34 Posts
    • 64 Thanks
    Seabiscuit
    Well, the bill was huge - £730 to be exact add that to the £170 for the MOT and service and we've kissed goodbye to £900 GUTTED!

    To top it all off I should have been paid last week but wasn't . I should be getting it through this week - what a nightmare

    Anyways, onwards and upwards....

    Difficult to know where I am with it all at the minute, but will have a better idea by month end - when I'll be drawing a great big fat line under it all and starting again.

    In other news I've had a couple of decent eBay sales (about £45 worth) although I have had to raise a non paying bidder case for one, so fingers crossed this comes through. Will relist a liar if items later as I've been a little slack with eBay.

    I've managed to cross a couple of Christmas pressies off my list using boots points. The majority of my Xmas shopping as sorted. Just need sister, BIL and parents. Just need to find time to get it all wrapped - maybe I should start now!

    Right best get lunch made and clothes ironed ready for work tomorrow.

    TTFN
    • Seabiscuit
    • By Seabiscuit 11th Oct 16, 7:54 PM
    • 34 Posts
    • 64 Thanks
    Seabiscuit
    Well, HR are sorting out an advance on my wages and have emailed me through the amount. It's about £200 less than I was expecting after tax looks like my calculations have been wrong. I know the amount before tax is correct and can only assume the figure I've been given is take home pay. Watch this space......

    In other news it turns out I have almost a years worth of holiday to sell back, This equates to almost 2 months pay at my new rate . Need to think long and hard as to what to do with it. Gut instinct says to pay majority of OD and cc that I'm getting charged interest on off and put a bit aside for emergencies.

    Got some serious thinking (and budgeting!) to do x
    • Thistle-down
    • By Thistle-down 12th Oct 16, 9:22 AM
    • 908 Posts
    • 3,105 Thanks
    Thistle-down
    That is so disappointing about the money, but great about the holiday pay!

    If I were in your position, I would be very tempted to pay off the OD and CC. The pound is volatile at the moment and general living expenses are set to rise. Lord knows what will happen to interest rates - having your outgoings reduced could be a real life saver in the long run.
    • EssexHebridean
    • By EssexHebridean 12th Oct 16, 9:48 AM
    • 6,357 Posts
    • 35,118 Thanks
    EssexHebridean
    Hey SeaBiscuit - sounds like you're nicely focused on getting sorted - well done!

    A tip on the car thing - you know you can have an MoT done up to a month ahead of due date without losing out on it on time? So mine is due 29th November, but I'll get the car in for it early in the month, as an example. Next year, make a note to get the car with the earlier MoT date booked in a month ahead of that, and leave the other one until the following month, that way you should be able to split them across two financial months, if you see what I mean? Makes no odds to what it costs but does make it easier to swallow. Another tip is to separate your service away from the MoT slightly - maybe 2 - 3 months ahead of time, so that you get prior warning of anything that may need doing and again, have a few months to budget it over.

    Have you done a full SOA (Statement of affairs) yet? If not it's well worth doing as you may well identify some areas where savings can be made. (Or post it in here and we'll find the stuff you've not thought of! )

    Assuming you've not got an emergency fund currently I'd stick a lump of your holiday pay into an account for emergency ONLY use, and pay the rest of the highest interest debt.
    MORTGAGE FREE 30/09/2016
    • Seabiscuit
    • By Seabiscuit 13th Oct 16, 6:45 AM
    • 34 Posts
    • 64 Thanks
    Seabiscuit
    Thanks for your comments EssexHebridean - will certainly be taking them on board.

    Just wanted to put an idea out there.....
    Our mortgage deal ends in a couple of weeks. I've done a quote for a new deal and it'll save us £100 a month. Now, I also ran a quote for borrowing an extra 5k to clear cc1 and it'll add £24 a month onto our repayments, so in theory we'd still be £76 a month better off. I realise we'll be paying a shed load in interest on this over the mortgage term but I need to weigh it up against the benefits of us getting back on our feet sooner. I'm conscious that OH car is 10 years old and likely to need replacing in the next couple of years. So chances are we'd pay off the current debt and get then get into more to buy a new car for OH. I could then save whatever I would have paid in cc repayments and hopefully have a lump sum to purchase a new car or for any emergencies. Also if we do want another child, we need to do it sooner rather than later (I'm no spring chicken) and our current situation is far from ideal to be thinking about doing so. Hmmmmm lots of thinking to be done.
    • EssexHebridean
    • By EssexHebridean 13th Oct 16, 12:28 PM
    • 6,357 Posts
    • 35,118 Thanks
    EssexHebridean
    Thanks for your comments EssexHebridean - will certainly be taking them on board.

    Just wanted to put an idea out there.....
    Our mortgage deal ends in a couple of weeks. I've done a quote for a new deal and it'll save us £100 a month. Now, I also ran a quote for borrowing an extra 5k to clear cc1 and it'll add £24 a month onto our repayments, so in theory we'd still be £76 a month better off. I realise we'll be paying a shed load in interest on this over the mortgage term but I need to weigh it up against the benefits of us getting back on our feet sooner. I'm conscious that OH car is 10 years old and likely to need replacing in the next couple of years. So chances are we'd pay off the current debt and get then get into more to buy a new car for OH. I could then save whatever I would have paid in cc repayments and hopefully have a lump sum to purchase a new car or for any emergencies. Also if we do want another child, we need to do it sooner rather than later (I'm no spring chicken) and our current situation is far from ideal to be thinking about doing so. Hmmmmm lots of thinking to be done.
    Originally posted by Seabiscuit
    Some thoughts on your thinking...as it were. Personally I think the justification a lot of people use for increasing mortgages to cover other debt is a bit weak. You currently have a choice - the £100 extra per month can go straight to targeting your debts - by order of snowball priority, of course! It'll take you a touch over 4 years to pay off 5k using that £100 per month.
    Alternatively you can add your 5k on if the mortgage Co are happy to advance you £5k against the equity - but you need to add up how much you will be paying back over the term of the mortgage and see if you think it's really worth it.

    If you go with the increased mortgage option, you'll still have £75 a month to set aside against another debt of course - plus what you're currently paying to CC1...

    There's one thing niggling at me though - did you not say that CC1 is at 0%?

    I think an SOA and the Snowball calculator are your friends in helping you with this decision you know.
    MORTGAGE FREE 30/09/2016
    • Kitten868
    • By Kitten868 13th Oct 16, 2:44 PM
    • 767 Posts
    • 1,364 Thanks
    Kitten868
    Hello lovely! What a total bummer starting your journey with a massive bill. It makes it feel like there's no point. But just remember its because these things happen you are here and you handling it more proactively than before. You're doing great. I have debt for the same reason. I couldn't cope with it anymore and got a shiny new car on finance. I couldn't believe how much cheaper it was to run and how much easier it was to balance the books when I didn't have a £900 bill every month. And i think I was spending £300 in petrol a month! Madness.
    I wouldnt do the remortgage.
    Loan 1 £8000/£8000
    Loan 2 £5800/£5800
    Total £13800/£13800
    • Kitten868
    • By Kitten868 13th Oct 16, 2:46 PM
    • 767 Posts
    • 1,364 Thanks
    Kitten868
    Whoops posted too soon. I meant further borrowing. Get yourself a better rate and save £100 a month. Then plow that in debt.
    Loving your ebaying. Get your Marie kondo on! X
    Loan 1 £8000/£8000
    Loan 2 £5800/£5800
    Total £13800/£13800
    • Seabiscuit
    • By Seabiscuit 17th Oct 16, 5:02 AM
    • 34 Posts
    • 64 Thanks
    Seabiscuit
    Thanks for your comments Kitten.

    Just trying to keep ticking over til payday now- just over a week away. Can't wait to see the back of this month so I can really get cracking on tackling the debt.

    Had a couple of small eBay sales last night totaling £13.12 so paid that straight off cc. Also relisted what hadn't sold and have £3 bid already. Trip to the post office later.

    Trying to stay out of supermarket until at least the weekend so have managed to knock together soup for work from veggies lurking at the bottom of the freezer. Not convinced on what it'll taste like!

    Right best sign off for now. Will be back!
    • Thistle-down
    • By Thistle-down 19th Oct 16, 12:52 PM
    • 908 Posts
    • 3,105 Thanks
    Thistle-down
    How did the soup turn out? I'm just thinking I need to do the same thing...and go through the freezer to use up all those bits that are hanging around.
    • Seabiscuit
    • By Seabiscuit 20th Oct 16, 5:31 AM
    • 34 Posts
    • 64 Thanks
    Seabiscuit
    It wasn't too bad to be fair - do like my random soups at this time of year.

    I had a £10 sale on eBay yesterday, so that will be paid off cc. Also checked by Quidco and I've had a £10 bonus track. Tend to use TCB more as I find it easier, but every so often I'll get an email from Quidco offering a bonus on a £10 spend so I tend to make use of it.

    Really need to crack on with the ebaying. Finding it a bit difficult now I'm back at work to keep on top of it as there's always something I need to do on my days off. Must get it sorted.

    Need to get back in the habit of meal planning too. I've really slipped off the diet wagon since I've been back at work. Need to get it sorted as I'd like at least half a stone gone by Christmas.

    Few spends planned for today. Haircut for both me and DS - should come to £15ish, need batteries for the ponies electric fence unit (quick trip to b&m), pick up milk and £1 for toddler group.

    Jobs for today....
    1. Sort laundry
    2. Post eBay
    3. Meal plan for weekend / next week

    Have a good day x
    • Katzen
    • By Katzen 20th Oct 16, 8:13 AM
    • 499 Posts
    • 1,604 Thanks
    Katzen
    Hi Seabiscuit, just caught up on your diary. Gutted for you with the car thing. Must be so disappointing to feel one step forward then two back. How long did you have off for maternity? I found my first pay was actually higher due to being owed a bit of tax back, are you likely to be in that position?
    As regards the remortgage, have you put the extra £5k into a mortgage calculator and seen how much it will cost you in the long run? I would imagine that car finance would be far less costly in the long run, especially if you can clear your other debts first.
    • Seabiscuit
    • By Seabiscuit 25th Oct 16, 5:07 AM
    • 34 Posts
    • 64 Thanks
    Seabiscuit
    Morning!
    I took a year off Katzen - and to be fair we did OK up until 6 weeks before my return! I did wonder about the tax thing as I've paid nothing (or very little) this financial as I was on SMP.

    I've been pants at updating, mainly because there's nothing much to report - we're just ticking over until OH payday tomorrow.

    I think I really need to start focussing on the little things that'll chip away at the debt - like stretching food shopping further, eBay, freebie days out / entertainment and making savings where we can. We need to grow up and get out of this mess!

    I've also got slimming world later which I'm dreading. My weight seems to be creeping back up since I've been back at work. I'm trying to be good but it's all the sitting at my desk that is doing it!

    Jobs for today.....
    1. Meal plan
    2. Post eBay
    3. Monthly debt stats
    • Katzen
    • By Katzen 25th Oct 16, 7:22 AM
    • 499 Posts
    • 1,604 Thanks
    Katzen
    Hi Seabiscuit,
    If you've only been on SMP for most of this tax year then I imagine you won't pay any tax on your first couple of pay cheques as you'll have done personal allowance in reserve, so to speak. Fingers crossed your wages are more than you hope! And that you manage to be strong and whack any extra off the debts straight away.
    Hope you have a productive day
    • Seabiscuit
    • By Seabiscuit 27th Oct 16, 6:23 AM
    • 34 Posts
    • 64 Thanks
    Seabiscuit
    Thanks fourthtimelucky! Was it the great north run you did? Any tips for training?

    Thanks Katzen - keeping fingers crossed this is the case.

    So at long last it was payday yesterday - seems to have taken an eternity to arrive. I've pulled together the figures - not happy reading

    Cc1 was £5970.74 now £5770.74 (-£200)
    Cc2 was £821.56 now £1005.07 (+£183.51)
    Cc3 was £530.85 now £1053.38 (+£522.53)
    OD was £1000 now £1049.74 ( +£49.74)
    Very was £147.98 now £294.97 (+£101.99)
    Next was £41.47 now £0 (-£41.47)

    Total was £8512.6 now £9173.90 (+£661.30) eek:

    Not happy reading, but the only way I'm going to battle this is by being honest with myself rather than burying my head in the sand.

    Very increased due to our tumble dryer packing in. A luxury I know but with having the little one and with us going into winter it'd really be a struggle without one. Did get a good deal with both discount and cashback and 9 months interest free.

    Anyway time to draw a line under the disaster that was last month and move on.

    Spendy day yesterday as ordered dog and horse feed. Should see us through til Christmas though. Also did food shop for us which wasn't cheap but very much needed. Should only need fresh bits now for the remainder of the month.

    Made £40 on eBay which has already gone off cc2 - not included in total above. Need to crack on with eBay, as while I've got nothing of value to sell there's a lot of it! And every little helps!

    There's another 10 days until I get paid. My holiday pay is being split between Nov and Dec pay. Hoping to clear the OD this month and majority of cc2 next month. Fingers crossed my calculations are right!
    • Thistle-down
    • By Thistle-down 27th Oct 16, 6:38 PM
    • 908 Posts
    • 3,105 Thanks
    Thistle-down
    Wow, you're doing great!! I'm looking forward to November - the start of a new month just seems like another chance to get it right. Especially if I got it all wrong last month...
    • Seabiscuit
    • By Seabiscuit 30th Oct 16, 5:09 AM
    • 34 Posts
    • 64 Thanks
    Seabiscuit
    Morning all! Just sat having a cuddle with the little one who thought 4:15 was a great time to get up and play! He's finally dropped off again!

    Had a couple of small ebay sales totalling £10 and have a £10 fb sale to deliver this evening. Will pop this in a seperate account for now and pay it off at the cc at the end of the month. OH car is in for MOT and service this week so don't want to commit the money to the cc just yet in case we have a repeat of my car disaster last month! Really need to crack on and have a mega listing session as piles of stuff to sell are just taking over my house! Shame it's not really car boot weather!

    Need to make another store cupboard soup for lunches this week. Made a lovely tomato and basil last week so will probably do the same again. Also need to batch cook for the little mans meals. Will crack on with it when I've finished my cuppa.

    I've managed to get out for 3 runs this week plus boot camp and feel so much better for it. The weights still not moving in the right direction though. Think my metabolism is still getting used to being back at work and sat at a desk all day rather than chasing around after little one! Ideally would like to lose 7lb before Christmas (so I can put it back on again enjoying all the Christmas goodies no doubt )

    Right, a few targets for this month.......
    1. Earn at least £100 extra income (£20/£100)
    2. Lose 4lb
    3. Run twice a week (ideally needs to be 3 but may be pushing my luck!)
    • Seabiscuit
    • By Seabiscuit 4th Nov 16, 4:52 AM
    • 34 Posts
    • 64 Thanks
    Seabiscuit
    Morning!
    Thankfully OH car has been pronounced fit and well so minimum spend there phew!!!

    Not a huge amount to report really. Had a couple of small ebay sales (£12) and a fb sale to deliver later (£5), so have transferred this across to the 'just in case' account where it'll stay until the end of the month when hopefully it'll get paid off the cc. Currently at £37/£100 target for the month.

    As I've not got much to say I'll disappear and get the dogs walked!
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