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  • FIRST POST
    • crunch_time
    • By crunch_time 23rd Oct 16, 7:22 PM
    • 860Posts
    • 1,830Thanks
    crunch_time
    Learning to budget to make future adventures happen
    • #1
    • 23rd Oct 16, 7:22 PM
    Learning to budget to make future adventures happen 23rd Oct 16 at 7:22 PM
    Evening everyone!

    I've decided its time for a new diary after sort of losing steam with my old one.

    In September 2013 our debt peaked at £29k. With some luck, a vague budget, changing priorities (kids), and some significant salary increases we have now got it down to circa £13-14k.

    I have learned lots during the process but the thing that I feel is holding us back is our inability to stick to a budget (or, more accurately, create a realistic budget).

    So basically the grand plan is to smash this 'debt hangover' as the hubs and I call I, as soon as possible so we can start using the money we currently use to pay it off for the adventures we have been planning pretty much all our adult lives. And also the things we should be doing at our age to be financially savvy like overpay the mortgage, contribute more into pension pots etc etc.

    I love the support from the wonderful people on this forum and look forward to sharing this adventure with you all!

    More info to follow!

    Crunchy
    June 2014 £23,555 vs Now £1500 (Loan)
    0% Credit card £2000/£1788
    Table and chairs (0%) £900/£800
    PAYDBX 2017 - #85 £12,675/£4388
    67% Paid!!
Page 12
    • doingitanyway
    • By doingitanyway 22nd Feb 17, 4:21 PM
    • 1,345 Posts
    • 5,508 Thanks
    doingitanyway
    Mean work place. don't they have any dependency leave?

    Hope the children get better soon
    JANUARY 2016/SECURED DEBT=24,822/ February 2017=10,950
    MORTGAGE FREE 25/07/16
    • crunch_time
    • By crunch_time 22nd Feb 17, 6:10 PM
    • 860 Posts
    • 1,830 Thanks
    crunch_time
    Mean work place. don't they have any dependency leave?

    Hope the children get better soon
    Originally posted by doingitanyway
    Gosh no! I work for Local authority as a teacher!!

    Thanks - they are much better now but another day off school for the boy tomorow.

    Crunchy x
    June 2014 £23,555 vs Now £1500 (Loan)
    0% Credit card £2000/£1788
    Table and chairs (0%) £900/£800
    PAYDBX 2017 - #85 £12,675/£4388
    67% Paid!!
    • crunch_time
    • By crunch_time 24th Feb 17, 5:54 AM
    • 860 Posts
    • 1,830 Thanks
    crunch_time
    Morning all

    Husband paid! £575 over payment paid to the loan bringing it down to £2525!!!! Next week the minimum payment will hit bringing us into the £4xxx which is very exciting!! Still on track to shift the loan by end of April.

    Signature updated.

    Crunchy xx
    June 2014 £23,555 vs Now £1500 (Loan)
    0% Credit card £2000/£1788
    Table and chairs (0%) £900/£800
    PAYDBX 2017 - #85 £12,675/£4388
    67% Paid!!
    • crunch_time
    • By crunch_time 26th Feb 17, 6:54 AM
    • 860 Posts
    • 1,830 Thanks
    crunch_time
    So husband and i (and kids) were driving back from a day at a very cold and windy coastal location yesterday and drove through a small town which had a new development of houses. We stopped to take a look and fell in love with the 4 bed detached show home. There was so much space for not as much money as we thought! This is the next step up for us and something we have been thinking about for a long time. We will literally outgrow our current house in 2 years time and are starting to think now about what we can do next.

    This house was perfect.........

    but it would mean me finding another job elsewhere as its too far away from mine and too long a commute. And uprooting DS from school/DD from nursery.

    The at the beginning of the year was to move next year but since the windfall has shortened the length of time left on our loan, theoretically we could jump on anything this summer (we are not worried about the 0% credit card)

    It's given us lots of food for thought and we have emailed our mortgage advisor to come round soon for a hypothetical 'how much can we borrow' chat.

    Meanwhile, budgets all up to date. March is a tight month as its 5 weeks long. Hopefully we will be able to make a few over payments and not have too many expensive weekends!

    Crunchy xx
    June 2014 £23,555 vs Now £1500 (Loan)
    0% Credit card £2000/£1788
    Table and chairs (0%) £900/£800
    PAYDBX 2017 - #85 £12,675/£4388
    67% Paid!!
    • crunch_time
    • By crunch_time 2nd Mar 17, 6:57 AM
    • 860 Posts
    • 1,830 Thanks
    crunch_time
    Morning all!

    Loan down to £2250 now and total debt down to £4838!!!

    I worked out we paid a total of £6726 off in February alone!

    Later this week I'm hoping to put the council tax money and some spare childcare money on the loan making it closer to £2k.

    We have an appointment with the mortgage advisor next week. It may be very premature but its keeping us focused on the goal in hand.

    Crunchy xx
    June 2014 £23,555 vs Now £1500 (Loan)
    0% Credit card £2000/£1788
    Table and chairs (0%) £900/£800
    PAYDBX 2017 - #85 £12,675/£4388
    67% Paid!!
    • crunch_time
    • By crunch_time 2nd Mar 17, 11:12 AM
    • 860 Posts
    • 1,830 Thanks
    crunch_time
    Back for another installation. Disastrous morning. Poof has managed to sever the cable for my laptop. I have no where else to store it and am pretty annoyed. This lead to a discussion with the husband about storage (again) and we have decided to bite the bullet and order a dresser which goes somewhere to solve some of our storage problems. Knowing. Ow we can afford the house we want I'm not so worried as I would probably be buying one in a years time anyway. It's ordered and arriving tomorrow. It's on the credit card though so all extra money will be going towards that for the time being. I can pay the rest off when I get paid in 19th march.

    The good news however is that husband rang the bank and if we paid the loan off today we could only have to pay £1620 so £630 less than we thought. I know interest will accrue but not much so I'm going to amend my total loan to around £1800 for now to take it into account and get husband to ring up again at the end of march and see what the difference is.

    Right better move some furniture around for this dresser!!

    Crunchy xx
    June 2014 £23,555 vs Now £1500 (Loan)
    0% Credit card £2000/£1788
    Table and chairs (0%) £900/£800
    PAYDBX 2017 - #85 £12,675/£4388
    67% Paid!!
    • kansaskitty
    • By kansaskitty 2nd Mar 17, 11:23 AM
    • 137 Posts
    • 554 Thanks
    kansaskitty
    Hi Crunchy,

    Just read the first and last pages of your diary! Late twenties with an almost 2yo and no 2 due in 7/8ish weeks so I have very much enjoyed reading about your progress! Keep on keeping on and I will be subscribing for future updates!

    KK xx
    Stay-at-home-mummy to a little prince, pinching the pennies but loving it!
    Spreadsheeter, piggybanker, envelope-system user!
    Emergency Fund £50/£500 10%
    • crunch_time
    • By crunch_time 9th Mar 17, 6:18 AM
    • 860 Posts
    • 1,830 Thanks
    crunch_time
    Morning!

    Wow it's been a week since I've been in here!! I've had a sickness bug which has wiped me out for a few days. Much better now though. Dresser has arrived and looks fab! Enables us to have some more surfaces to put things on and my laptop is safely in one of the cupboards with a new lead!!

    The sickness bug meant that meal planning went out of the window for a few days and lots of top up shops happened depleting the food fund a bit so I have topped this up. We also treated the kids to new scooters costing £75 in total.

    So in all I have about £200 to chuck at the other credit card to go towards the dresser/scooters etc. Then my extra money next week should pay the rest of it off.

    We had the mortgage advisor round. We can afford a house value of £360k which would cost £900 so way less than we were budgeting for. The house we saw wouldn't be ready for 18 months apparently which means we can still weigh it up against others and pay off the debt this summer like planned.

    Everything heading in the right direction!!

    Must rein it in a bit though. Feel like we have been a bit speedy this last week.

    Crunchy xx
    June 2014 £23,555 vs Now £1500 (Loan)
    0% Credit card £2000/£1788
    Table and chairs (0%) £900/£800
    PAYDBX 2017 - #85 £12,675/£4388
    67% Paid!!
    • TalesfromtheAvenue
    • By TalesfromtheAvenue 9th Mar 17, 8:59 AM
    • 46 Posts
    • 158 Thanks
    TalesfromtheAvenue
    All sounds good (apart from the sickness bug!).
    Sounds like exciting times ahead!

    Ave
    x
    • JoJoC
    • By JoJoC 9th Mar 17, 9:59 AM
    • 759 Posts
    • 2,137 Thanks
    JoJoC
    Nice to hear from your crunchy, although I'm sorry to hear you haven't been well. Glad you're on the mend.

    We all have spendy weeks. As long as it doesn't turn into a spendy week every week, I think you can write it off as a week that you needed to spend more than normal.

    Are the kids happy with their new scooters?

    Glad your house plans are coming under budget - is it a new build you're looking at? 18 months sounds like a good timeliness to save and to take stock of what you want/ need to consider your options.
    Mummy of two boys - Working hard to make better financial choices!
    *My debt busting and savings diary*
    • crunch_time
    • By crunch_time 10th Mar 17, 10:18 AM
    • 860 Posts
    • 1,830 Thanks
    crunch_time
    Morning all!

    Sun is breaking through! Manged to dry two loads on the line yesterday and currently have one out on the line right now!!

    Right, we are forgetting about houses for now and focusing on smashing the debt once and for all. Sticking to the budget to make future adventures happen. Simple pleasures. No more big purchases for now. Making do and being frugal.

    Been playing with my spreadsheet this am. So two more payments of £850 each towards the loan and it WILL be paid off!!! So that is a loan free date of 28th April 2017!!!!! 3 years early!

    Dresser will be paid off the other CC next friday when i get paid.

    Then on 26th May we will pay off the table and chairs!!!

    Just leaving the rest of the 0% card from June onwards. I'm not going to make a plan for this yet as I hope i will have slushed it down even more by being savvy and over budgeting for things like childcare.

    But to have less than £2k of debt by the end of May is going to be amazing!!!

    Crunchy xx
    June 2014 £23,555 vs Now £1500 (Loan)
    0% Credit card £2000/£1788
    Table and chairs (0%) £900/£800
    PAYDBX 2017 - #85 £12,675/£4388
    67% Paid!!
    • abba1772
    • By abba1772 10th Mar 17, 12:12 PM
    • 3,325 Posts
    • 8,126 Thanks
    abba1772
    Your doing amazing with this loan can't believe it'll be gone by next month xx
    HOLIDAY SPENDING MONEY TO BE SAVED BY END OF MAY: £1500 Now £339.36
    POAMAYC 2011 £6382.66 POAMAYC 2012 £5000.78
    POAMAYC 2013 £3480.04 POAMAYC 2014 £4085.14
    POAMAYC 2015 £7565.24 POAMAYC 2016 £8000.90 / £6000
    POAMAYC 2017 £1504.50 / £6000
    • JoJoC
    • By JoJoC 10th Mar 17, 12:19 PM
    • 759 Posts
    • 2,137 Thanks
    JoJoC
    Wow - that's amazing! You're slaying that debt
    Mummy of two boys - Working hard to make better financial choices!
    *My debt busting and savings diary*
    • VelvetFreak
    • By VelvetFreak 11th Mar 17, 12:01 PM
    • 77 Posts
    • 195 Thanks
    VelvetFreak
    Hello Crunchy

    Have read your whole diary. My goodness you are doing well. That debt will be gone in no time.
    Family Loan $3651/$8000 = -$4639
    Emergency Fund $1375/$10,000
    Mini Cash Savings = $10/$100
    • louby40
    • By louby40 12th Mar 17, 2:17 PM
    • 810 Posts
    • 2,117 Thanks
    louby40
    Great debt busting! Well done
    Parents£1185 Debt Free July 2017 Sealed Pot Challenge 10 #572 Debt free by Xmas 2017 #32 £2245/£3442
    Car loan £4442. Mortgage £98,550
    • doingitanyway
    • By doingitanyway 12th Mar 17, 4:15 PM
    • 1,345 Posts
    • 5,508 Thanks
    doingitanyway
    Wow, seriously impressive
    JANUARY 2016/SECURED DEBT=24,822/ February 2017=10,950
    MORTGAGE FREE 25/07/16
    • crunch_time
    • By crunch_time 17th Mar 17, 6:11 AM
    • 860 Posts
    • 1,830 Thanks
    crunch_time
    Morning all!

    Pay day today. I got paid less than I predicted as I got deducted a days pay for the day I had to take off because the children were ill. I have also been deducted money for child care vouchers. I should reap the return of this later this month. I have also budgeted for extra spending and petrol money for April since its the Easter hols and I don't want to be caught short with no money to even get in the car. I get paid 2 days after we go back anyway.

    For now it has meant that I have only paid off £200 of the debt today.

    This £200 was put towards the loan s we are sooooo desperate to be rid of this now, the minimum payment is the largest It has gone down to around £1500.

    I'm now toying with the idea of taking out a 0% credit card to cover both husbands credit cards so we won't be charged any interest. We can then take our time with it over the summer and start setting up proper budgets again which is much needed after this almost 'all or nothing approach' which has helped us get to where we are now but is not sustainable going forwards.

    Got to remind myself that we are definitely getting there and I'm going to focus on one debt at a time.

    Right, food shopping today so must make a list and stick to it!!

    Have lovely Fridays all!

    Crunchy xx
    June 2014 £23,555 vs Now £1500 (Loan)
    0% Credit card £2000/£1788
    Table and chairs (0%) £900/£800
    PAYDBX 2017 - #85 £12,675/£4388
    67% Paid!!
    • crunch_time
    • By crunch_time 23rd Mar 17, 8:46 AM
    • 860 Posts
    • 1,830 Thanks
    crunch_time
    Morning all

    I cant believe another week has nearly flown by. Its been full of tantrums and meltdowns - mine and the kids - and a husband working away a lot. Is it the Easter Holidays yet?!! Just one week to go.....

    Husband gets paid a week tomorrow so its horns pulled in until then!! Also got to start making frugal plans for the Easter hols.

    Crunchy xx
    June 2014 £23,555 vs Now £1500 (Loan)
    0% Credit card £2000/£1788
    Table and chairs (0%) £900/£800
    PAYDBX 2017 - #85 £12,675/£4388
    67% Paid!!
    • doingitanyway
    • By doingitanyway 23rd Mar 17, 8:57 AM
    • 1,345 Posts
    • 5,508 Thanks
    doingitanyway
    You have changed at least one member of the 'clueless' public. I am much less judgemental when I see children going into meltdown

    Re your debt. You ARE getting there, although I appreciate it might not feel like it all the time. I like to think of it as a wiggly line instead of an arrow if that makes sense?

    Wishing you a good day
    JANUARY 2016/SECURED DEBT=24,822/ February 2017=10,950
    MORTGAGE FREE 25/07/16
    • crunch_time
    • By crunch_time 25th Mar 17, 7:46 AM
    • 860 Posts
    • 1,830 Thanks
    crunch_time
    Started this diary 5 months ago - time for reflection
    Morning all

    So my kids are watching trolls, husband has gone for a run, I realised yesterday I started this diary 5 months ago so I'm going to do a quick reflection of where we were and where we are now.

    Recent events have made me feel like there is no time like the present and that every day counts and i must make the most of life and be grateful for what i have. Lets start with the positives...

    Positives
    - we started the diary with about £13-£14k of loan and credit card. Five months later it is now £4697!!!!!!!
    - I have a credit card but don't have a card for it and it is at £0!!!!!!
    - We were very good with the windfalls and didn't spend it on 'stuff' but paid down the debt
    - Since the windfalls we have approached a mortgage adviser and now know how much we can afford for the next house purchase and it is affordable and realistic - once the debt has been paid off and we have saved a nice cushion of money.

    Things to work on
    - The 'chuck everything at the debt and don't spend anything unless we have to' approach is really wearing me down now.
    - Husband and i have been very busy at work these last few weeks and less conscious about top up shops and budgeting which has eaten into the money left for debt payments.
    - My house needs a good spring clean - i keep buying stuff like cleaning products and I'm sure that I'm duplicating them.
    - I'm also drowning in stuff that needs to be taken to the tip/charity shop/tree of gum or fleabay and need to get a wriggle on with this - a cluttered house if a cluttered mind.

    So, now its Spring, I'm declaring from now on a refresh for the final push to clear this debt by the summer once and for all.

    The plan

    - Big Spring clean and tidy - hard to do with a 2 year old and 4 year old in tow but I'm sure I can make a start and finish it by the end of the Easter hols. I'm going to focus on the loft, office, kitchen cupboards, under the stairs and the shed.
    - The loan is going to run for a few months whilst i focus on the credit card debt again. Its currently £1500 roughly and the minimum payment of £275 so rounded up to £300 for the time being the payments will look like...

    1st April - £1200
    1st May - £900
    1st June - £600
    1st July - £300
    1st August - £0!!!!!!

    - We also have £650 to pay off for our summer holiday before the end of June so will need to budget for that. But my plan is to clear all of it by the beginning of the summer holidays.

    Husband gets paid next week so its a case of getting through the week and then we can start a fresh. Right, better go and make some plans and some lists!!!

    Happy weekends everyone.

    Crunchy has here groove back!!

    Crunch xx
    June 2014 £23,555 vs Now £1500 (Loan)
    0% Credit card £2000/£1788
    Table and chairs (0%) £900/£800
    PAYDBX 2017 - #85 £12,675/£4388
    67% Paid!!
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