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  • FIRST POST
    • crunch_time
    • By crunch_time 23rd Oct 16, 8:22 PM
    • 1,078Posts
    • 3,221Thanks
    crunch_time
    Learning to budget to make future adventures happen
    • #1
    • 23rd Oct 16, 8:22 PM
    Learning to budget to make future adventures happen 23rd Oct 16 at 8:22 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
    LBM June 2014. Original debt £23,555 vs Now £0 Paid off in April 2017.
    NEW DEBT (1-1-18) My credit card : £3035 Now: £3029 Husbands credit card: £4579 Now: £4579 Long term savings £3440 Holiday fund £245/£37.22
Page 31
    • crunch_time
    • By crunch_time 8th Jan 18, 2:43 PM
    • 1,078 Posts
    • 3,221 Thanks
    crunch_time
    Just popping in to say DS's last after-school club bill was £3 less than expected so ramping up the holiday fund to £37.22!!

    The National Grid need to register the meter in our name and this property so I won't be paying for electricity for a while. I'm going to tuck the money away into the household bills account for now. We won't have to pay a big lump sum for the back pay but it makes sense to save it just in case.

    After getting used to oil central heating for the last two months and realizing we will be spending more money on oil than we would like to, husband has reduced the amount it is on and set different times so we shall see how that helps. The current prediction is £74 per month - on top of electricity!!!!!! Must get that down...... and wear the slippers more.

    Right - must get ready for the school/nursery run!

    Crunchy xx
    LBM June 2014. Original debt £23,555 vs Now £0 Paid off in April 2017.
    NEW DEBT (1-1-18) My credit card : £3035 Now: £3029 Husbands credit card: £4579 Now: £4579 Long term savings £3440 Holiday fund £245/£37.22
    • crunch_time
    • By crunch_time 10th Jan 18, 3:17 PM
    • 1,078 Posts
    • 3,221 Thanks
    crunch_time
    Afternoon diary!

    We ended up in a and e yesterday afternoon as one of the children had a minor accident but needed to be checked out. They are fine but we had to get some dinner on the way home as we were late back and hadnít cooked the planned dinner of course. I was interested at how we dealt with the choices on offer. I initially suggested to go to the pub on the way home which a) we couldnít afford and b) would have meant a much later night than we actually had. Then husband suggested fish and chips which I dismissed as I had waffles and fish fingers in the freezer and had just done a big food shop. So we ended up going to the m&s garage and bought dessert, and then a ready meal each for the husband and I as well as some beers to calm our nerves after the stress. Children had fish fingers and waffles as planned.

    We really didnít need any of it and it made me realise how much when we have mini disasters we spend money on solving it rather than gripping on tight and riding it out and thinking creatively. I realised too that I often get very stressed with the children when things arenít going smoothly and can be quite harsh on them. Husband said recently that this is normal and this is our life. So Iím realised today that I just need to deal with it and stop hoping that it will Ďget betterí etc.

    I felt anxious about the debt again and worried that Iím not earning to pay it off. So I read through my money Pinterest board for some inspiration and found some Dave Ramsey quotes that have helped me get everything into perspective.... and they have.

    Iíve decided itís pointless to save for a foreign holiday when we have other stuff to deal with right now. The £50 has paid off some bits left on the husbands old hsbc card and the £7 from no wine last weekend has paid off £7 from the food overspends from last year. Thatís what I will do going forward. But not having things this year that I did last year and put on credit I will manage to pay off this debt. And then not get into anymore debt going forward.

    Iím going to make a list of everything we want to do this year and then whittle it down to what we need to do and then cost it all up.

    Sorry for the rambling post but I feel I needed to get my thoughts down

    I havenít been able to do much today because of poorly ish child but I did get my massive ironing pile done and ironed the e bay stuff ready to put on tonight. Planning an evening of organising.

    Crunchy x
    LBM June 2014. Original debt £23,555 vs Now £0 Paid off in April 2017.
    NEW DEBT (1-1-18) My credit card : £3035 Now: £3029 Husbands credit card: £4579 Now: £4579 Long term savings £3440 Holiday fund £245/£37.22
    • Nicnak
    • By Nicnak 11th Jan 18, 7:24 PM
    • 712 Posts
    • 3,897 Thanks
    Nicnak
    Sorry you ended up in a and e. It can be quite scary when that happens.

    I like your idea of writing it all down and deciding what is needed and necessary. It's a good way of cutting costs.

    We have been giving in to takeaway a little too much recently. I'm sure the kids enjoyed fish finger and waffles. x
    September 6th 2017 - Updated 3rd January 2018
    Credit Card £0 now: £1796 Tesco Loan £7500 = £773 Consolidation £15,000 = £14,725 Total = £25,330 £17,294 EMF #252 = £500/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Seasidegal58
    • By Seasidegal58 13th Jan 18, 8:20 PM
    • 1,420 Posts
    • 8,218 Thanks
    Seasidegal58
    Hope your little one is feeling back to normal crunchy.

    Dave Ramsey is very good on quotes that tell it like it is! Just the thing when the financial wobbles happen!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Save for New Kitchen!
    Surveys: PA: £15.78/£20; One Poll: £15.40/£40: Opinium: £10.50/£25; Panelbase: £5/£10; You Gov: 1625/5000 points (£50)
    • crunch_time
    • By crunch_time 16th Jan 18, 7:17 AM
    • 1,078 Posts
    • 3,221 Thanks
    crunch_time
    Morning diary,

    I’ve upgraded my phone as I need one with more storage due to my new work. It’s an extra £10 a month which is fine. Husband said I wouldn’t get much in music magpie for my old phone so I very much enjoyed telling him I would get £94!!!!

    I’m still working on my essential spends for 2018 list but I know that we need to do the garden this spring which will cost about £1500 according to husbands initial estimates so this will go a long way towards that. I know I should really put it towards the holiday and I still might we just need to get through the rest of January..

    Just under 2 weeks until pay day!!

    Crunchy xx
    LBM June 2014. Original debt £23,555 vs Now £0 Paid off in April 2017.
    NEW DEBT (1-1-18) My credit card : £3035 Now: £3029 Husbands credit card: £4579 Now: £4579 Long term savings £3440 Holiday fund £245/£37.22
    • theroamingnomad
    • By theroamingnomad 16th Jan 18, 7:48 AM
    • 104 Posts
    • 101 Thanks
    theroamingnomad
    Hi Crunchy!

    I've just read through your diary and wanted to commend you on having a plan and modifying it when things change. I wish you well on your adventure and will be following with interest
    Debt-free by August 1st, 2018 - hopefully!
    £4945.54/£5124 - as of 18/01/18
    • Seasidegal58
    • By Seasidegal58 18th Jan 18, 8:27 PM
    • 1,420 Posts
    • 8,218 Thanks
    Seasidegal58
    Well done on the phone!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Save for New Kitchen!
    Surveys: PA: £15.78/£20; One Poll: £15.40/£40: Opinium: £10.50/£25; Panelbase: £5/£10; You Gov: 1625/5000 points (£50)
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