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  • FIRST POST
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Feb 17, 9:56 AM
    • 1,100Posts
    • 10,571Thanks
    Treadingonplaymobil
    £67,031.92 is a frightening number indeed....
    • #1
    • 12th Feb 17, 9:56 AM
    £67,031.92 is a frightening number indeed.... 12th Feb 17 at 9:56 AM
    £67,031.92. Seriously. £67,031.92. That is a SCARY number. I can't believe our debt has peaked (and it is the peak, I am determined) at this level.

    Our light bulb moment actually happened a few months back, but it's taken since then of wrangling utilities and carefully watching out income/outgoings (using You Need a Budget) to really figure out where we were overspending and how the monthly shortfall of anything from £200-£1,000+ was happening.

    We have literally nothing to show for this debt, it's just crept up over the past 8 years or so, and has always been at manageable levels, but back in October we realised we were spending more on credit cards each month than we were paying off.

    We committed that cardinal sin of taking out a consolidation loan, but alongside it we looked really carefully at our spending over the next couple of months, budgeted realistically for what we spend and have (I think) picked off all the easy 'low hanging fruit' of budget cuts and really identified why we were overspending.

    The main reason for the debt is, erm, me. Not that I'm the biggest spender (neither of us are amazing), but because I am self employed with a hugely variable income and basically worked out our budgets on the basis I would always earn my 'best' month's income. Which was, with hindsight, maybe a TINY bit deluded.

    The aim of this diary is to keep us on track with actually reducing our debt every single month, not doing it in a three steps forward, two (or four) steps back sort of way. Having sat down and put our numbers into the whatsthecost site, it appears that we are looking at 7 years and 1 month of repayments to clear the debt (and that's assuming we can get rid of the shortfall showing below). I REALLY want to reduce this term as that just seems bonkers.

    SOA below, with a couple of explanatory notes.

    Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 2
    Number of children in household......... 3
    Number of cars owned.................... 1

    Monthly Income Details

    Monthly income after tax................ 250 (variable, but this is the minimum I have earned in any month in the last 5 years)
    Partners monthly income after tax....... 2711.86
    Benefits................................ 192
    Other income............................ 0
    Total monthly income.................... 3153.86


    Monthly Expense Details

    Mortgage................................ 698
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 174 (including overpayment for a period when we messed up during a house move 18 months ago and didn't restart the direct debit for the new property. Will drop by a little under £50 after either March or April, can't remember which)
    Electricity............................. 52 (gas and electricity are one combined DD, I haven't checked the exact split but the total is £104)
    Gas..................................... 52
    Oil..................................... 0
    Water rates............................. 104 (also including a debt from previous property, but I think this will be included for another 6 months or so. I'm not sure what our actual usage is)
    Telephone (land line)................... 18.5 (includes internet)
    Mobile phone............................ 85 (£45 for my contract, which I use for work as well, £40 for DH)
    TV Licence.............................. 12.12
    Satellite/Cable TV...................... 0
    Internet Services....................... 0 (included in landline cost)
    Groceries etc. ......................... 520 (Includes £40 for one lot of school lunches. I am REALLY struggling to reduce this, but feel I could and should be able to!)
    Clothing................................ 100 (growing children, plus see notes below re clothes)
    Petrol/diesel........................... 225 (90% DH commuting costs)
    Road tax................................ 16.27
    Car Insurance........................... 25.22
    Car maintenance (including MOT)......... 30
    Car parking............................. 0
    Other travel............................ 50
    Childcare/nursery....................... 70 (this will disappear in April as child 3 gets free 15 hours)
    Other child related expenses............ 81.85 (music/swimming lessons x2, cubs and beavers, National Trust membership as they love visiting them)
    Medical (prescriptions, dentist etc).... 5
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 27.07
    Contents insurance...................... 0
    Life assurance ......................... 16.26
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 90
    Haircuts................................ 20
    Entertainment........................... 135
    Holiday................................. 75
    Emergency fund.......................... 25
    Total monthly expenses.................. 2707.29



    Assets

    Cash.................................... 0
    House value (Gross)..................... 210000
    Shares and bonds........................ 0
    Car(s).................................. 800
    Other assets............................ 0
    Total Assets............................ 210800



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 173733...(698)......3.14
    Total secured & HP debts...... 173733....-.........-


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Barclaycard....................6880.21...156...... .0
    MBNA...........................9614.71...98....... .0
    Parental loan..................20000.....0.........0 (see notes below)
    Tesco loan.....................21000.....377.......10
    Total unsecured debts..........57494.92..631.......-



    Monthly Budget Summary

    Total monthly income.................... 3,153.86
    Expenses (including HP & secured debts). 2,707.29
    Available for debt repayments........... 446.57
    Monthly UNsecured debt repayments....... 631
    Amount short for making debt repayments. -184.43


    Personal Balance Sheet Summary
    Total assets (things you own)........... 210,800
    Total HP & Secured debt................. -173,733
    Total Unsecured debt.................... -57,494.92
    Net Assets.............................. -20,427.92


    Created using the SOA calculator at stoozing.
    Reproduced on Moneysavingexpert with permission, using other browser.


    Regarding the (relatively) high clothes expense, it is a combination of 3 growing children (8, 6 and 3), plus the fact that my job is in the fashion industry, and as a self employed person I need to have the right sort of 'look' in order to get work (think along the lines of a self employed personal shopper - people need to see you looking good in order to book with you).

    The parental loan was for a house deposit. The parent in question has no idea about our debts. She is not desperate for the money back and isn't charging us interest, but has asked us to save £150-200 every month into a savings account and then once we've saved a decent sum to either repay them or 'reborrow' it for work on the house (basically they want us to be able to make repayments if they suddenly need the extra income, but meanwhile are happy for us to benefit from it. I am not saving the money while our debt payments are so high - we are hoping to have paid enough off that if the parent ever needs it that we can reborrow it and pay them back). This isn't great, but realistically I think the best solutions is to treat it as the lowest priority for snowballing - once we have paid back the other debts we will throw the entire £630+ at this debt.

    So, there is a freaking enormous shortfall every month, which is somewhat depressing. Most months it is covered by the fact that I earn more than my 'bare minimum', but it is those months where it isn't covered that the debt creeps up again, and I am a total disaster for going 'oh well, we've spent on the credit card, we might as well keep going' and buying more clothes or something for the house - this is probably a significant proportion of our debt problem.

    We have managed to get rid of the balance on the one credit card we were spending on, so the remaining ones are both on 0% deals (although one expires in September). I have not cut up the remaining credit card, because we don't have an emergency fund in case of eg boiler repairs, but it has not been used for all of a month, and I hope to keep it that way.

    A DMP or similar isn't really on my horizon right now - I feel like we should be able to make the cuts to make our budgets balance, and I am optimistic that as my income goes up (when I can work more as child 3 starts school) that we will be able to make overpayments.

    My plan for now is:
    1) Try to wiggle those budget numbers around enough that we don't have a shortfall any more.
    2) Make a plan for any months where I make extra - do I use it for an emergency fund, as a fund to cover future months' shortfalls, to throw money at the debt to try to reduce minimum payments in case of future 'shortfall' months?
    3) Try to make more money. Not quite sure how this will work as I am largely limited to working around DH's working hours (I work evenings and weekends and the 5hrs childcare per week we are paying for for child 3).

    Now that's all down in black and white I am feeling a combination of relieved (to be clear on the numbers) and immensely stressed (by the semi-regular £180+ shortfall).

    Onwards and downwards (for the debt, not me)!

    edited to add: the original £67,031.92 figure was based on the total figure for the Tesco loan, which included all interest payable over the entire term of the loan. I have updated the debt figure in my signature and in all posts going forward as at 4th June 2017 to reflect that actual current debt balance rather than the balance plus interest over the lifetime of the loan. This has knocked £7,911.62 off the debt figure, but means that each monthly payment will have the interest for that month deducted from it, so it won't affect the DFD if I don't make overpayments.
    Last edited by Treadingonplaymobil; 04-06-2017 at 2:58 PM.
Page 104
    • museumworker
    • By museumworker 24th Nov 17, 4:52 PM
    • 2,001 Posts
    • 11,405 Thanks
    museumworker
    Maybe your mum might see a membership as different to a gift voucher, the latter does seem more like cash to me than the former.

    Enjoy London! With the lights and museums there is lots to see for next to nothing, if there are any paid visitor attractions on the list a huge proportion of them do 2 for 1 with your rail ticket, just print off the voucher online first.
    Mortgage 16/03/2011: £190K 01/01/2017: £107,729.65 01/07/2017: £95,979.89
    OPs 2011-2016 = £45K 2017 OPs = £9250.20
    • earthgirl
    • By earthgirl 24th Nov 17, 6:14 PM
    • 2,481 Posts
    • 20,357 Thanks
    earthgirl
    Hi just caught up. Great news on the mortgage and the utilities credit. I would also investigate asking for some back if you felt it could stop xmas debt. It’s your money! But well done for reducing usage.

    I am reluctant to post my cleaning rota in case people think I’m scummy but think getting organised has really helped me to reduce stress and keep the house ok. It’s never all sparkling and I miss that, but it’s never embarrassing and as a full time working Mum with side jobs as well, I just don’t have the time to do much more. Please be kind though as I’m learning!

    I speed clean 4 mornings per week for 45 mins. I have a cleaning apron with pockets that hold cloths spray and gloves and a scrubbing brush. Saves time as I can just grab the apron and run around whichever room I’m doing.

    Each of these mornings I’ll put on a wash and hang out, leaving me about 30 mins. One morning is sorting washing and putting away. I don’t iron but I Hang out really carefully to avoid creases. One morning I wipe the bathrooms and hoover quickly and change towels and pillow cases. The other two mornings are focused on a theme.
    Wk1 bathrooms and toilets deep clean
    WK2 floors deep clean/mop dusting
    Wk3 change all bedding and clean glass.

    We have a put away rule and have trained the kids to put things away. It works for me but I’m so time poor and don’t have high standards

    Hope you find what works for you.
    15/5/12 Paid off Mortgage 1 (£220k) Dec 13 - £116,508 Bought Dream House Dec 14 - £94, 402 (£22,106 offset in 2014) Jan 16 - £67, 852 (£26,550 offset in 2015) Dec 16 - £33,529 ( £34,323offset in 2016)
    Jan 17 - £39, 773 (Re-estimation of endowments )
    June 17 £32,053 Sept 17 £22,619
    Kids savings 13,578/36k
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 24th Nov 17, 8:36 PM
    • 651 Posts
    • 2,581 Thanks
    wishingthemortgaheaway
    Hi just caught up. Great news on the mortgage and the utilities credit. I would also investigate asking for some back if you felt it could stop xmas debt. Itís your money! But well done for reducing usage.

    I am reluctant to post my cleaning rota in case people think Iím scummy but think getting organised has really helped me to reduce stress and keep the house ok. Itís never all sparkling and I miss that, but itís never embarrassing and as a full time working Mum with side jobs as well, I just donít have the time to do much more. Please be kind though as Iím learning!

    I speed clean 4 mornings per week for 45 mins. I have a cleaning apron with pockets that hold cloths spray and gloves and a scrubbing brush. Saves time as I can just grab the apron and run around whichever room Iím doing.

    Each of these mornings Iíll put on a wash and hang out, leaving me about 30 mins. One morning is sorting washing and putting away. I donít iron but I Hang out really carefully to avoid creases. One morning I wipe the bathrooms and hoover quickly and change towels and pillow cases. The other two mornings are focused on a theme.
    Wk1 bathrooms and toilets deep clean
    WK2 floors deep clean/mop dusting
    Wk3 change all bedding and clean glass.

    We have a put away rule and have trained the kids to put things away. It works for me but Iím so time poor and donít have high standards

    Hope you find what works for you.
    Originally posted by earthgirl

    That sounds like a good system to me, I love the idea of your apron, what a fab idea.
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
    • WannabeFree
    • By WannabeFree 24th Nov 17, 8:57 PM
    • 428 Posts
    • 2,931 Thanks
    WannabeFree
    Hi just caught up. Great news on the mortgage and the utilities credit. I would also investigate asking for some back if you felt it could stop xmas debt. Itís your money! But well done for reducing usage.

    I am reluctant to post my cleaning rota in case people think Iím scummy but think getting organised has really helped me to reduce stress and keep the house ok. Itís never all sparkling and I miss that, but itís never embarrassing and as a full time working Mum with side jobs as well, I just donít have the time to do much more. Please be kind though as Iím learning!

    I speed clean 4 mornings per week for 45 mins. I have a cleaning apron with pockets that hold cloths spray and gloves and a scrubbing brush. Saves time as I can just grab the apron and run around whichever room Iím doing.

    Each of these mornings Iíll put on a wash and hang out, leaving me about 30 mins. One morning is sorting washing and putting away. I donít iron but I Hang out really carefully to avoid creases. One morning I wipe the bathrooms and hoover quickly and change towels and pillow cases. The other two mornings are focused on a theme.
    Wk1 bathrooms and toilets deep clean
    WK2 floors deep clean/mop dusting
    Wk3 change all bedding and clean glass.

    We have a put away rule and have trained the kids to put things away. It works for me but Iím so time poor and donít have high standards

    Hope you find what works for you.
    Originally posted by earthgirl
    I love this post
    ďOnce you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.Ē
    • Honeysucklelou2
    • By Honeysucklelou2 25th Nov 17, 5:37 AM
    • 514 Posts
    • 1,912 Thanks
    Honeysucklelou2
    When you work full time, it is difficult to get everything done at home as well. What a great idea about the apron and having a 3 week rotation.
    paydbx #90 £475/£10,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3206 in Oct 17
    • Treadingonplaymobil
    • By Treadingonplaymobil 25th Nov 17, 8:25 AM
    • 1,100 Posts
    • 10,571 Thanks
    Treadingonplaymobil
    earthgirl thanks for the cleaning routine!

    Having a bit of a disaster morning here - arrived in London last night, unloaded the car outside my relative's house, and the car wouldn't start when we went to move it to the nearest car park! We think the alternator is not working. Of course we are now into weekend vehicle recovery and getting the car repaired in some heinously expensive London garage. Boo.
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 2nd Aug 17/DFD: £55,011.96/1st May 2025
    • Cumbria lass
    • By Cumbria lass 25th Nov 17, 8:31 AM
    • 906 Posts
    • 4,613 Thanks
    Cumbria lass
    Oh no TOPM couldn't have happened whilst you were at home it had to be in London . Hate cars , they are money pits .

    On the upside at least you are safe and at relatives .
    Nov 2017 CC1 £3329 CC2 £600

    Debt Free Nov 2019: earlier if I have my way
    • Cherryfudge
    • By Cherryfudge 25th Nov 17, 3:33 PM
    • 955 Posts
    • 4,300 Thanks
    Cherryfudge
    This is not what we want to hear. I hope they can fix it quickly and not too heinously. Other than that I hope it's a really good weekend.
    • Treadingonplaymobil
    • By Treadingonplaymobil 27th Nov 17, 9:06 AM
    • 1,100 Posts
    • 10,571 Thanks
    Treadingonplaymobil
    Week 42: Day 2

    Before I get stuck into looking at this week, I need to get down a little confessional about the weekend...

    £268 later, we have a car that works again . So annoying, could really have done without that. It's wiped out 80% of our savings account (all the pots for annual bills, that had been building solidly for a couple of months, for the first time since LBM). So that's a bit rubbish.

    Also, the weekend was generally enormously expensive on all fronts - £70 to a relative for an activity they promised DC1 as a birthday present then realised they couldn't afford (after promising it), so we and another relative chipped in so that DC1 didn't end up let down. Plus lunch with some old friends that ended up being more than I anticipated (evenly split bill, others on steak and prosecco while I ate veggie and didn't drink), plus an activity for DC2 to make up for DC1 going on a fun activity which also ended up being more expensive than anticipated. Plus the car, of course. So all in all, a pretty disastrous weekend, financially speaking.

    BUT it did make something hit home - this is the kind of weekend we would have organised a few times a year pre LBM, and not really added all the costs up. Yes, the costs were 'unexpected', but (apart from the car) only because we didn't plan for them; they all actually could have been anticipated - things like the lunch weren't exactly a shock, I could have looked at the menu of the place online and stated I was going to just pay my way, the friends wouldn't have been offended. To be honest the whole weekend felt a little hollow because there was a constant nagging feeling of 'we can't afford this' at the back of my mind. Lesson learned that any future weekends away like this need to be carefully planned out in advance, with the whole budget for the weekend planned and actually in our bank accounts before we go, rather than winging it, which is pretty much what we did this weekend.

    Also, I know I overcompensated with DC2's activity, we didn't need to something as expensive as we did.

    Silver linings: an important lesson learned.

    Now, onto this week...

    I'm working up in London until Wednesday. I need to feed myself today but other than that it should be moderately cheap as I'm staying in a hotel with breakfast included (paid for by the people I'm working for) tonight and tomorrow, and lunch is catered. Not sure about dinner, will just grab something from M&S to eat in hotel room if we aren't eating out.

    The downside of being away is that I won't get a huge amount done either earning or MS this week (I am being paid for work tomorrow and wed, obviously, but it isn't amazing pay - £150 a day for longish days), and I'll need to get the DCs' advent calendar ready when I'm home on Thursday as I won't have done anything before then - I have printed out all the activities and bought chocolates though, so I just need to load it.

    Have had three work enquiries this weekend, so fingers crossed at least one of them comes off. One is over the Christmas period (I often get bookings then as people are off work and have the time to come to see me) which is a bit of a pain, but it's two clients so will be about £100 profit for <5 hours work, so I can't really complain. Plus it's not in my house so I don't need to worry about tidying up.

    Right, better get on with my day, or I'm not going to get anything done!

    to do today
    1. plan week - need to keep on top of work admin like emails and contract work.
    2. December budget.
    3. finish contract work for this week before I leave my relative's.
    4. pack up and get myself to the other side of London and check into my hotel.
    5. some more Christmas knitting - I'll have some time to kill at the other end of London, so might treat myself to a coffee and some knitting in some hipster East London cafe .

    To do this week
    1. put advent calendar together.
    2. DO SOME CHRISTMAS SHOPPING - still have no stockings, no presents from another relative who has asked me to buy for the DC, nothing for DH....
    3. fabric for tree skirt - need to check if my mother brought any down with her.
    4. keep on top of work admin so it isn't a nightmare on Thursday when I'm home.

    To do this month
    1. Keep the total spend at the budgeted level - it's high on YNAB this month (£3,842) as it includes the £470 paid off the MBNA card and all our savings pots are actually budgeted.!This is not going well.
    2. Keep a tight record of Christmas spends so I can ensure it sticks to budget as far as possible.!Ongoing.
    3. Keep beavering away at my business goals.!Ongoing.
    4. Make some candles - we've run out! And I know one person really wants another one for Christmas, so will add it to her hyacinth.!Done! Although I'll probably use them up and need to make more before Christmas.
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 2nd Aug 17/DFD: £55,011.96/1st May 2025
    • Treadingonplaymobil
    • By Treadingonplaymobil 27th Nov 17, 11:49 AM
    • 1,100 Posts
    • 10,571 Thanks
    Treadingonplaymobil
    As another way to try to get my head back in the MSE game, I have selected a couple of diaries to read from start to finish - currently working my way through XSpender's, which is super inspiring and full of relevant ideas, as her starting debt was not a million miles away from mine.
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 2nd Aug 17/DFD: £55,011.96/1st May 2025
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 27th Nov 17, 2:33 PM
    • 651 Posts
    • 2,581 Thanks
    wishingthemortgaheaway
    TOPM
    firstly I think I know what one of your 'jobs' may be. Does it involve coloured scarves and making people look like they've had two week's holiday just by wearing the right colour???? (I'm about to book my style day)

    Secondly: the thing that stood out to me was '£70 for dc1 gift that relative couldn't afford'.....
    When I think back to your early diary days and you said you didn't want family to know your financial situation, could it be that you are not alone? And a conversation could readjust everyone's expectations?

    Yup, the car sucks... (but when you have an emergency fund you'll take it in your stride)

    And everything else, you've said (regarding planning for such a weekend)
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
    • armchairexpert
    • By armchairexpert 27th Nov 17, 11:40 PM
    • 726 Posts
    • 4,720 Thanks
    armchairexpert
    TOPM
    firstly I think I know what one of your 'jobs' may be. Does it involve coloured scarves and making people look like they've had two week's holiday just by wearing the right colour???? (I'm about to book my style day)
    Originally posted by wishingthemortgaheaway
    This has been my guess since Day 1! But then it makes me laugh because I always think of the Bridget Jones bit where her Mum is always on at her to "get her colours done, you don't want to be walking around in all those slurries and browns".

    Ahem. As you were, TOPM. I'm sorry about your car! What a nuisance! And especially if the 'savings' pots were annual bill pots - I don't think those even count as savings, really, so that's a bit painful.
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 aiming for May 2028
    14 August 2017 - Refinanced: $220,000
    November 2017 - $216,000.00 Current MFD 31 July 2035
    • Treadingonplaymobil
    • By Treadingonplaymobil 28th Nov 17, 5:40 AM
    • 1,100 Posts
    • 10,571 Thanks
    Treadingonplaymobil
    Just rounding up yesterday's lists before starting on today...

    to do today
    1. plan week - need to keep on top of work admin like emails and contract work. Done.
    2. December budget. Not done.
    3. finish contract work for this week before I leave my relative's. Done.
    4. pack up and get myself to the other side of London and check into my hotel. Done. VERY nice hotel (I am not paying, obv).
    5. some more Christmas knitting - I'll have some time to kill at the other end of London, so might treat myself to a coffee and some knitting in some hipster East London cafe . Done.

    To do this week
    1. put advent calendar together.
    2. DO SOME CHRISTMAS SHOPPING - still have no stockings, no presents from another relative who has asked me to buy for the DC, nothing for DH....
    3. fabric for tree skirt - need to check if my mother brought any down with her.
    4. keep on top of work admin so it isn't a nightmare on Thursday when I'm home.

    To do this month
    1. Keep the total spend at the budgeted level - it's high on YNAB this month (£3,842) as it includes the £470 paid off the MBNA card and all our savings pots are actually budgeted.!This is not going well.
    2. Keep a tight record of Christmas spends so I can ensure it sticks to budget as far as possible.!Ongoing.
    3. Keep beavering away at my business goals.!Ongoing.
    4. Make some candles - we've run out! And I know one person really wants another one for Christmas, so will add it to her hyacinth.!Done! Although I'll probably use them up and need to make more before Christmas.
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 2nd Aug 17/DFD: £55,011.96/1st May 2025
    • Treadingonplaymobil
    • By Treadingonplaymobil 28th Nov 17, 5:48 AM
    • 1,100 Posts
    • 10,571 Thanks
    Treadingonplaymobil
    Week 42: Day 3

    Laughing at you all sleuthing over my job! It isn't that, but is so similar to one area of my work that it might as well be, so that's a good way to consider how I work when giving advice.

    Got all excited when I did my budgets this morning that the weekend wasn't as bad as I thought, then realised that the payment for the activity with DC2 hasn't cleared yet, so it is exactly as bad as I think.

    Relative could normally afford treats, but has just been sued by an ex-employer for some training costs and paid rather than fighting, so there was a huge unexpected expense - they earn very well, but very much live the london life, so no spare cash for things like that.

    I am expecting a loooonnnnngggg working day ahead (and tomorrow), and I have a sore throat and blocked nose. Am going to down a couple of cold and flu capsule just before I start - I never normally take medication as I prefer to try to slow down and listen to my body, but I really don't have time to be ill this week! On the bright side, I'm off for a hotel breakfast shortly, which is always a treat.

    Well I've read one diary from start to finish, who should I go and read next ? Someone with a big debt who isn't just able to pay it all back in a year or two who might offer some ideas and inspiration for me.

    Have had another couple of work enquiries. Nothing is really turning into bookings yet, so I'm not getting too excited, but fingers crossed something does soon.

    to do today
    1. a bit of knitting time.
    2. keep on top of work admin to try to pull off these bookings.
    3. attempt a couple of social media posts if I can find the time.

    To do this week
    1. put advent calendar together.
    2. DO SOME CHRISTMAS SHOPPING - still have no stockings, no presents from another relative who has asked me to buy for the DC, nothing for DH....
    3. fabric for tree skirt - need to check if my mother brought any down with her.
    4. keep on top of work admin so it isn't a nightmare on Thursday when I'm home.

    To do this month
    1. Keep the total spend at the budgeted level - it's high on YNAB this month (£3,842) as it includes the £470 paid off the MBNA card and all our savings pots are actually budgeted.!This is not going well.
    2. Keep a tight record of Christmas spends so I can ensure it sticks to budget as far as possible.!Ongoing.
    3. Keep beavering away at my business goals.!Ongoing.
    4. Make some candles - we've run out! And I know one person really wants another one for Christmas, so will add it to her hyacinth.!Done! Although I'll probably use them up and need to make more before Christmas.
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 2nd Aug 17/DFD: £55,011.96/1st May 2025
    • XSpender
    • By XSpender 28th Nov 17, 6:44 AM
    • 2,704 Posts
    • 27,954 Thanks
    XSpender
    As another way to try to get my head back in the MSE game, I have selected a couple of diaries to read from start to finish - currently working my way through XSpender's, which is super inspiring and full of relevant ideas, as her starting debt was not a million miles away from mine.
    Originally posted by Treadingonplaymobil
    Thanks for reading my diary TOPM but my debt is going the wrong way at the moment I am reading yours for to pick up tips
    EF £1000 - £0
    • Silver Queen
    • By Silver Queen 28th Nov 17, 8:18 AM
    • 166 Posts
    • 1,008 Thanks
    Silver Queen
    Iíve always guessed fashion photographer or freelance MUA. I hope you never reveal what you do because if Iím wrong Iíll be devastated
    Debt Totals Decemberr 17:
    £350 Natwest Credit Card / Now £0 £15,500 Loan from Parents 1 / Now £12,250 £500 Loan from Parents 2 / £250 £2,000 Overdraft Now £1,700
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 28th Nov 17, 6:59 PM
    • 651 Posts
    • 2,581 Thanks
    wishingthemortgaheaway
    Iíve always guessed fashion photographer or freelance MUA. I hope you never reveal what you do because if Iím wrong Iíll be devastated
    Originally posted by Silver Queen

    Mua?????????
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
    • Cumbria lass
    • By Cumbria lass 28th Nov 17, 7:30 PM
    • 906 Posts
    • 4,613 Thanks
    Cumbria lass
    Make up Artist . I do believe it stands for.
    Nov 2017 CC1 £3329 CC2 £600

    Debt Free Nov 2019: earlier if I have my way
    • Eager_Elephant
    • By Eager_Elephant 28th Nov 17, 8:42 PM
    • 4,118 Posts
    • 22,850 Thanks
    Eager_Elephant
    Pinot's is a great diary - this is her current one although she does not post as often - http://forums.moneysavingexpert.com/showthread.php?t=4829148

    You should be able to find her first diary from there.
    Ninja Saving Turtle No. 15 for November
    NSD - 1/15
    (up to 01/11/17)
    My Diary is here - http://forums.moneysavingexpert.com/showthread.php?t=2175629 (Eager Elephants Effective Everyday Excursion)
    • armchairexpert
    • By armchairexpert 28th Nov 17, 11:34 PM
    • 726 Posts
    • 4,720 Thanks
    armchairexpert
    It can't be make up artist because she feeds her clients soup, though. And also the bookings happen when the clients have free time, not when they have an event on.

    I have spent way too much time thinking about this.

    Diaries: I second Pinot, she's brilliant. Also Sun Addict's is one of the most compelling ones I've ever read, although not a huge debt.
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 aiming for May 2028
    14 August 2017 - Refinanced: $220,000
    November 2017 - $216,000.00 Current MFD 31 July 2035
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