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  • FIRST POST
    • Honeysucklelou2
    • By Honeysucklelou2 31st Dec 16, 4:05 AM
    • 512Posts
    • 1,752Thanks
    Honeysucklelou2
    From debt to freedom...
    • #1
    • 31st Dec 16, 4:05 AM
    From debt to freedom... 31st Dec 16 at 4:05 AM
    For a couple of months I have been lurking and reading diaries which have been helpful and inspiring. I thought that I would start a diary to keep myself focussed on getting rid of the debts.

    I am a working mum, recently separated from my husband. I have a large family which makes for an interesting and busy life! I have had a couple of LBMs in recent years and tried to stick to a budget. I had 2 loans totalling 17, 000 at one point. One loan was paid in Aug 2016 and the 2nd has just over £2,000 to go and is due to be paid off by August 2017.
    Other than that, I have a cc with a £475 balance, 2 home improvement loans ( for double glazing) that both have about £1700 outstanding. These have a horrible interest rate of 22%, so I'm eager to tackle these first.
Page 12
    • Honeysucklelou2
    • By Honeysucklelou2 14th Sep 17, 10:48 PM
    • 512 Posts
    • 1,752 Thanks
    Honeysucklelou2
    No, still no news or progress. I had a letter come yesterday saying that I had until the 8th of October to pay back £5,000. First job tomorrow will be to ring that department and explain it all to them. I'm guessing that because no single claim has been registered in my name yet, due to the postal difficulties, this letter is assuming I'm not entitled at all and is demanding payment.

    I've been trying to think carefully about every purchase. This week I've bought odd bits of groceries but have been able to time it right to pick up reduced fruit, so the children have enjoyed the novelty of having grapes n lunch Boxes!
    paydbx #90 £475/£10,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3206 in Oct 17
    • Honeysucklelou2
    • By Honeysucklelou2 14th Sep 17, 10:55 PM
    • 512 Posts
    • 1,752 Thanks
    Honeysucklelou2
    Louby, I'm .8.
    paydbx #90 £475/£10,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3206 in Oct 17
    • Honeysucklelou2
    • By Honeysucklelou2 15th Sep 17, 11:00 PM
    • 512 Posts
    • 1,752 Thanks
    Honeysucklelou2
    Today I think a miracle happened. Last Friday when I spoke to the TC office, they had no record of a single claim in my name and the Royal Mail website showed that the letter hD yet to be delivered. Today I fully expected to have to ring the bank and beg for an overdraft extension (current one is £150). I checked my bank balance by phone to see how much I could eke out and amazingly there was money in my account! I spoke to an advisor who confirmed that it was a CTC payment. It was such a huge relief. I have yet to receive an award notice so I don't feel completely peaceful until I can see it and then I'll be able to plan a budget for the future. But
    I am thanking God that the long wait and postal complications are over. My biggest joy is that I can now take DD1 to university next week without the crippling financial worry.
    paydbx #90 £475/£10,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3206 in Oct 17
    • Hiddenidenity
    • By Hiddenidenity 15th Sep 17, 11:05 PM
    • 5,331 Posts
    • 26,255 Thanks
    Hiddenidenity
    If you sign in online you will see the next 8 weekly payments (3 if 4 weekly payments)

    I love being able to see everything online. I'm so glad its sorted for you x
    DFW £1783.71/£7348.71 Rent Arrears £571.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
    • louby40
    • By louby40 16th Sep 17, 9:25 AM
    • 1,163 Posts
    • 3,174 Thanks
    louby40
    Oh what a relief. I bet you couldn't believe it.
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • Honeysucklelou2
    • By Honeysucklelou2 16th Sep 17, 12:01 PM
    • 512 Posts
    • 1,752 Thanks
    Honeysucklelou2
    Yes, that's the exact feeling relief and almost disbelief!
    paydbx #90 £475/£10,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3206 in Oct 17
    • Spendless
    • By Spendless 16th Sep 17, 8:26 PM
    • 19,633 Posts
    • 31,715 Thanks
    Spendless
    Oh, I really wasn't expected that result. Fantastic news. xxx
    • Cherryfudge
    • By Cherryfudge 16th Sep 17, 11:33 PM
    • 899 Posts
    • 3,678 Thanks
    Cherryfudge
    That's great news! So pleased for you and DD
    • Honeysucklelou2
    • By Honeysucklelou2 17th Sep 17, 8:50 AM
    • 512 Posts
    • 1,752 Thanks
    Honeysucklelou2
    Feeling very much that a weight has lifted off my mind. I was able to pay back my dad for the emergency loan of last month. It is interesting that in such nail biting financial times, lessons can be learned. I often buy the value brands of flour, frozen fruit and veg, or Te3scos own brand. Over the last few weeks I have tried Tesco's own brand of toiletries and found in some cases the products were better than the ones I had been buying so will keep to those. I have looked carefully for yellow stickers and have been able to eke out the fruit by buying yes fruit and putting in small pots to go into packed lunches. I'm doing packed lunches for all. The 2 at primary had been school dinners last year because one had the free school dinners and I paid so that the other could have the same but now they are both in KS2 I'm packing up lunches.

    We've had a lovely weekend so far. We went to see my parents yesterday. They live near some shops which is a plus point as far as my children are concerned! DD1 has been careful with her wages and saved some money for uni but did spend a little getting shoes and a couple of items of clothing in readiness for next week. She used a 20% off voucher so starting to get into moneysaving ways. I had to spend a little to get DD2 a pair of smart shoes. She has to do one day a week as front of house so that the students get to understand the whole team approach to catering, even though her aim is to be a chef. Trainers will not do, especially with the all black uniform she has to wear, so had to splash out for those.

    It is a lovely day here, so hoping it will be nice all day so that I get the washing dry.
    Last edited by Honeysucklelou2; 17-09-2017 at 8:58 AM. Reason: Adding a sentence.
    paydbx #90 £475/£10,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3206 in Oct 17
    • Spendless
    • By Spendless 17th Sep 17, 6:39 PM
    • 19,633 Posts
    • 31,715 Thanks
    Spendless
    I know I said it would be sorted out in time, but admittedly I did think weeks if not months into the future. So pleased this is not the case. However much you manage to eek out groceries etc there's always somewhere where you have no real alternative other than to find some cash eg for your DD's shoes.

    Looking for something positive from the last few weeks, just think how well you'll be able to get back to debt slashing, now you know how much you can economise.

    Glad your DD's is seeing the sense in not paying full price if there's a voucher or discount to be had. Both my kids grumble like mad about me constantly buying things on offer, then yesterday when DD was bemoaning that she wished she'd bought some items on hol last month where they were cheaper for friends xmas gifts, I came up with a whole stash of products I'd bought in the sales after christmas. She's now complained I didn't buy enough - lol.
    • Honeysucklelou2
    • By Honeysucklelou2 17th Sep 17, 11:49 PM
    • 512 Posts
    • 1,752 Thanks
    Honeysucklelou2
    You're right Spendless. I've been mulling over all day how to allocate various bits of money. I did come to the conclusion that I need to increase the emergency fund money as this has taken quite a hit over the TC problem time and really needs building up to at least £1,000.
    paydbx #90 £475/£10,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3206 in Oct 17
    • louby40
    • By louby40 18th Sep 17, 9:02 PM
    • 1,163 Posts
    • 3,174 Thanks
    louby40
    How many children do you have left at home when DD goes to Uni?
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • Honeysucklelou2
    • By Honeysucklelou2 18th Sep 17, 11:24 PM
    • 512 Posts
    • 1,752 Thanks
    Honeysucklelou2
    Just the 7 then!
    paydbx #90 £475/£10,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3206 in Oct 17
    • louby40
    • By louby40 19th Sep 17, 7:49 AM
    • 1,163 Posts
    • 3,174 Thanks
    louby40
    Oh my goodness. And you work close to full time! How on earth do you manage it?

    Loads of respect coming to you. You totally deserve every penny you get in benefits.
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • Honeysucklelou2
    • By Honeysucklelou2 19th Sep 17, 10:14 PM
    • 512 Posts
    • 1,752 Thanks
    Honeysucklelou2
    Thank you Louby...life is always busy!!

    So glad to have a few days of sunshine. It is a relief to be able to get the washing pegged out and dried.
    paydbx #90 £475/£10,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3206 in Oct 17
    • Honeysucklelou2
    • By Honeysucklelou2 23rd Sep 17, 1:23 AM
    • 512 Posts
    • 1,752 Thanks
    Honeysucklelou2
    A busy week has flown by! Feeling so very thankful that the TCs have been sorted out so that I can take DD1 to university. She finished work last week and in theory has had all week to sort through what to take or not! By Thursday evening she had done no packing but has managed to get it all in the car by Friday lunchtime!

    I have spent £90 on diesel to fill the car up for the journey. I am impressed with the fuel consumption on long journeys, much better than day to day driving on rural roads! I have tried to get bits and pieces together over the last few weeks, so all I need to do tomorrow is get some crockery and a first grocery shop for her. I did get her a couple of little presents that I've wrapped and will hide in her room so that she can find them later...jelly beans as she loves them and some peanut butter hot chocolate drink that I usually only get her at Christmas as it's quite expensive.

    I have been surprised at how student life has changed since I was a student! Fresher's week activities are all online with the option to buy tickets in advance.

    TC payment came in yesterday so I know what I am budgeting with. Nursery fees are paid up to date and the next main expense is a school trip for DD3. My aim, when payday comes, is to increase the standing order to the emergency fund to try and build that up after its recent depletion. Now that the 2nd loan is paid and finished I'd like to get that double glazing loan down as the interest rate is huge.

    Sounds silly what I'm about to write next but I really want to plan for days out with my little ones. Taking DD1 to uni is a reminder that childhood goes so quickly. I've been focussed on survival, in emotional and financial terms, for so long that I'd like to plan and save for days out. We are blessed to have beaches close to us that will always be my first port of call but I think the occasional day out to museums and the like would be a positive step, The youngest have accompanied DD1 and I on the university trip and DD5 in particular is so excited to see more of the world.
    paydbx #90 £475/£10,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3206 in Oct 17
    • Spendless
    • By Spendless 23rd Sep 17, 7:23 AM
    • 19,633 Posts
    • 31,715 Thanks
    Spendless
    After the stresses of the last few weeks with the tax credit situation, I think looking for cheap or free activities to do with the children is a good project to embark on as a counter-balance.

    Anything in your area for October half term?
    • louby40
    • By louby40 23rd Sep 17, 8:27 AM
    • 1,163 Posts
    • 3,174 Thanks
    louby40
    Good luck to your DD as she embarks on the next exciting stage of her life. And to you. It’s hard when kids leave home.

    My DS is living with his dad Mon ~ Fri whilst he’s doing his apprenticeship and although he’s only 8 miles away I do miss him. He comes back at weekends but I hardly see him as it’s all about the mates.

    I wish I lived by the sea.
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • VelvetFreak
    • By VelvetFreak 23rd Sep 17, 1:24 PM
    • 159 Posts
    • 476 Thanks
    VelvetFreak
    So glad to hear things are sorted out
    Saving for days out doesn't seem silly at all.
    Good luck to your DD at uni. What is she studying?
    Family Loan of $8000 - Paid off 22/06/2017
    Emergency Fund $6,000 / $10,000
    Flooring Renovation Fund $2122 /$5000
    Kitchen Renovation Fund $0 / $8000
    • SAROONAFADUL
    • By SAROONAFADUL 23rd Sep 17, 1:53 PM
    • 6 Posts
    • 1 Thanks
    SAROONAFADUL
    Mmmm Iam really happy for you wish you all the best
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