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  • FIRST POST
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Feb 17, 9:56 AM
    • 939Posts
    • 8,015Thanks
    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 32
    • Bobarella
    • By Bobarella 14th Apr 17, 7:10 PM
    • 10,473 Posts
    • 69,440 Thanks
    Bobarella
    I am voting with Jo Jo as well that you will manage to square away the £70 somehow. Do you have any supermarket rewards built up that you could use maybe to take the hit off the next few shops?

    Anyway every confidence in you!
    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
    • debtfreeoneday
    • By debtfreeoneday 15th Apr 17, 7:10 AM
    • 2,764 Posts
    • 9,431 Thanks
    debtfreeoneday
    supermarkets are fatal for making me spend more than intended, hence why I always (nearly always) do online shopping so I can control the spending better!
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1263.18 ~~~ CC4 - £1050.00
    MFW (01/15) £118,031.21 £96,612.41
    • Treadingonplaymobil
    • By Treadingonplaymobil 18th Apr 17, 5:49 AM
    • 939 Posts
    • 8,015 Thanks
    Treadingonplaymobil
    Week 10: Day 3

    Aaaaaaaaaaaaand I'm back! Last day of the holidays, DH is back to work today after the bank holidays, my 9,000 family members have departed and I am cringing at the state of my bank account.

    Not only the enormous food and booze bill for catering for extra adults (only three extra at any one time, but all good eaters and drinkers, whereas DH and I don't really drink at all), but I gave into pressure to 'smarten up' and have ordered a load of new clothes. I did need them badly for work (I think I've mentioned I work loosely in the fashion industry, image matters big time) and I'm not sure how much longer I could have survived, but because i've ordered loads, intending to return some, my bank account is looking VERY sad. I haven't even entered it all in YNAB - need to wait for the various payments to clear my account today and I'll have a better idea where I stand.

    I'm pleased to report that I did finish my dad's birthday sock knitting in time!

    To do today:
    1. Update YNAB as payments clear from my account today. Sob quietly.
    2. Have as cheap as possible a day for the last day of hols. I was going to take the children to the cinema but have re-thought in the face of my bank account and am having a quiet day. Might go for a walk with them later if the weather is nice.
    3. Freeze any leftovers and do a menu plan for the week - we seem to have TONS of food leftover, which is good after last week's £70 over budget shop. Hoping to get away with a milk/veg/toilet roll top up.
    4. Tidy up the kitchen and hallway - going to focus on one area a day to recover from holiday mess.
    5. Mend DD's dressing up dress, before it gets so bad I have to buy a replacement.

    To do this week:
    1. Make more candles - I did actually do this, but they kept being left to burn for hours due to heavy bathroom usage, so need to make some more. Need to find more containers so I can make more at any one time.
    2. Tidy whole house
    3. Attempt to balance holiday budget disaster area once all payments have cleared.

    Nice to be back, I hope everyone else has managed slightly more MSE holidays!
    £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
    • stoplurking
    • By stoplurking 18th Apr 17, 6:38 AM
    • 348 Posts
    • 2,304 Thanks
    stoplurking
    Morning ToP

    Sounds like you've had a busy, expensive bank holiday weekend. Re the extra £70 on groceries- have you still got that chair to list on EBay? It could do for April what The Handbag did for March.

    I wonder why the rellies didn't bring their own drinks?

    The children will enjoy a walk with you, a nice opportunity to regroup after your busy holiday. Have a good day x
    LBM Oct12 Debts at LBM £17715.93.
    Orig DFD Apr15 DFD 24/12/13
    3-6monthEFC#9 £2160/4000 54%
    NST September Scrimper #18 SFD9/18
    • mummytogirls
    • By mummytogirls 18th Apr 17, 9:59 AM
    • 5,427 Posts
    • 16,579 Thanks
    mummytogirls
    Fingers crossed you can keep the grocery shop down this week TOPM xx
    Mummytogirls x

    £23164.32 - 12/12/10
    £6936.45 - 04/09/17 - 70.99% paid off
    • Treadingonplaymobil
    • By Treadingonplaymobil 18th Apr 17, 7:08 PM
    • 939 Posts
    • 8,015 Thanks
    Treadingonplaymobil
    Have been updating YNAB, still loots of payments from the weekend to clear, but at least the picture is becoming clear. Mainly it's a picture of being very poor, but at least not getting poorer.

    Had a lovely walk with the DC today and picked a load of wild garlic, which we threw into a soup with all the leftover potatoes and leeks from the weekend, so I'm feeling frightfully virtuous.

    To do today:
    1. Update YNAB as payments clear from my account today. Sob quietly. Done.
    2. Have as cheap as possible a day for the last day of hols. I was going to take the children to the cinema but have re-thought in the face of my bank account and am having a quiet day. Might go for a walk with them later if the weather is nice. Done! Had to buy toilet rolls and stock cubes, but no other money spent.
    3. Freeze any leftovers and do a menu plan for the week - we seem to have TONS of food leftover, which is good after last week's £70 over budget shop. Hoping to get away with a milk/veg/toilet roll top up. Done. I think it should be a very low budget week, food-wise. The freezer is stuffed.
    4. Tidy up the kitchen and hallway - going to focus on one area a day to recover from holiday mess. Done.
    5. Mend DD's dressing up dress, before it gets so bad I have to buy a replacement. Not done yet. Bad mother.

    To do this week:
    1. Make more candles - I did actually do this, but they kept being left to burn for hours due to heavy bathroom usage, so need to make some more. Need to find more containers so I can make more at any one time.
    2. Tidy whole house.
    3. Attempt to balance holiday budget disaster area once all payments have cleared.
    £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
    • Suffolk lass
    • By Suffolk lass 18th Apr 17, 7:13 PM
    • 1,477 Posts
    • 16,899 Thanks
    Suffolk lass
    What sort of containers do you use for your candles? do you mean like moulds (toilet roll holder for e.g.) or candle holders (like the Gu glass ramekins)?
    MFiT T4 #2 update 31.2% after Q6
    Save £12k in 2017 #64 - £8112.39 saved (73.74%) after August - my annual target is £11,000
    OS Grocery Challenge 2017 budget of £3,600 £3000 (reduced from Apr) - 61.61/66.66% including stores after July
    My DFD is http://forums.moneysavingexpert.com/showthread.php?t=5593594
    • Treadingonplaymobil
    • By Treadingonplaymobil 19th Apr 17, 5:25 AM
    • 939 Posts
    • 8,015 Thanks
    Treadingonplaymobil
    What sort of containers do you use for your candles? do you mean like moulds (toilet roll holder for e.g.) or candle holders (like the Gu glass ramekins)?
    Originally posted by Suffolk lass
    Holders - ramekins would be ideal if I had any! Will hunt round the house for similar ideas.
    £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 19th Apr 17, 5:35 AM
    • 939 Posts
    • 8,015 Thanks
    Treadingonplaymobil
    Week 10: Day 4

    Sigh. Today will still mainly be about updating YNAB and sorting out the financial disaster area. I think it's safe to say I am EXCELLENT at managing finances on a day to day basis (loads of NSDs, good at food budgeting etc) and TERRIBLE at doing it for exceptional things (birthdays, family gatherings etc). I think it's a real need to 'make the most' of these events in terms of family and DC enjoying themselves, to be good hosts.

    Also my clothes shopping over the weekend is an issue. I haven't had a 'clothes binge' since starting the MSE journey, but I would say they were a regular feature before this. It's incredibly easy for me to justify because of my job, and there is definitely a balance to be found somewhere between 'no clothes' (unsustainable, and what I have been doing since mid-February) and regular high street clothes shopping plus very occasional expensive designer purchases (also unsustainable, and what I was doing previously). I'm not quite sure where this balance lies for me, and it's a real area of work for me.

    I got confirmation yesterday of the extra work I was approached about last week. It's more like £350 than £500, but is also a shorter day than expected, with a lovely train ride home all to myself afterwards. And if it goes well it should be at least twice a year thereafter.

    To do today:
    1. Update YNAB as payments continue to clear from my account today. Continue to sob quietly.
    2. NSD
    3. Make risotto from the remaining wild garlic.
    4. Tidy up the dining room and stairs, continuing my 'one area a day' mission.
    5. Mend DD's dressing up dress, before it gets so bad I have to buy a replacement.
    6. Do some social media while working - have done practically none over holidays.

    To do this week:
    1. Make more candles - I did actually do this, but they kept being left to burn for hours due to heavy bathroom usage, so need to make some more. Need to find more containers so I can make more at any one time.
    2. Tidy whole house. (Getting there)
    3. Attempt to balance holiday budget disaster area once all payments have cleared. (Getting there)
    Last edited by Treadingonplaymobil; 19-04-2017 at 5:37 AM.
    £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
    • BLOW FLY
    • By BLOW FLY 19th Apr 17, 7:19 AM
    • 102 Posts
    • 79 Thanks
    BLOW FLY
    Quite some story you have there ToP and a long journey ahead of you.

    Fair play for facing up to the debts and tackling them head on, fortune favours the brave👍

    I went down the consolidation route a few years (2014) back too for pretty much the same amount circa £20k which was all CC debt frittered away..... I have to say it worked for me as I closed all bar one CC accounts (need one for work) I had as soon as I'd consolidated and the outstanding debt is down to £6500.

    Apologies, I have only read the first page and last two so this has probably already been covered (not time to read 32 pages). Maybe I mis understood but out of interest do you still have the loan from your parents or did you spend this when you received it? For instance if you still had it then I'd use it to clear the CC debt and part of the consolidation loan. What you'd save in interest payments would soon build the loan repayment fund back up.

    BF
    • Kantankrus Mare
    • By Kantankrus Mare 19th Apr 17, 8:50 AM
    • 4,787 Posts
    • 10,921 Thanks
    Kantankrus Mare
    I think the key to solving the extra funds for family gatherings/birthdays things is to allocate another envelope to put a regular amount in.

    I know it stretches things even further but when needed.......it doesnt put a hole in the overall finances and cuts the stress factor on you.

    Another solution is to ask for a contribution from visitors.

    I dont think its a bad thing that when you issue an invite to say..."I will provide food but a contribution of drinks would be appreciated"

    We went to a family gathering on Sunday and everyone took their own drinks. Not one person commented and a good day was had.
    Make £10 a day challenge Jan/£215.84/ Feb £146.45/ Mar £192.55/Apr £171.20/ May £156.40/june £95.55/ Jul £383.85/Aug £211.60/Sep £212.45
    Walk 2000 miles in 2017....1452.69 miles
    • Treadingonplaymobil
    • By Treadingonplaymobil 19th Apr 17, 8:01 PM
    • 939 Posts
    • 8,015 Thanks
    Treadingonplaymobil
    Quite some story you have there ToP and a long journey ahead of you.

    Fair play for facing up to the debts and tackling them head on, fortune favours the brave👍

    I went down the consolidation route a few years (2014) back too for pretty much the same amount circa £20k which was all CC debt frittered away..... I have to say it worked for me as I closed all bar one CC accounts (need one for work) I had as soon as I'd consolidated and the outstanding debt is down to £6500.

    Apologies, I have only read the first page and last two so this has probably already been covered (not time to read 32 pages). Maybe I mis understood but out of interest do you still have the loan from your parents or did you spend this when you received it? For instance if you still had it then I'd use it to clear the CC debt and part of the consolidation loan. What you'd save in interest payments would soon build the loan repayment fund back up.

    BF
    Originally posted by BLOW FLY
    Unfortunately not - it was a loan for a house deposit, so it's tied up in the house!

    I think the key to solving the extra funds for family gatherings/birthdays things is to allocate another envelope to put a regular amount in.

    I know it stretches things even further but when needed.......it doesnt put a hole in the overall finances and cuts the stress factor on you.

    Another solution is to ask for a contribution from visitors.

    I dont think its a bad thing that when you issue an invite to say..."I will provide food but a contribution of drinks would be appreciated"

    We went to a family gathering on Sunday and everyone took their own drinks. Not one person commented and a good day was had.
    Originally posted by Kantankrus Mare
    They did contribute a little - the trouble is that guests seem to bring a bottle of wine whether they're staying for one meal or three days! I should have been clearer about contributions.
    £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 19th Apr 17, 8:11 PM
    • 939 Posts
    • 8,015 Thanks
    Treadingonplaymobil
    Finally, my budgets balance again. Everything has gone out that will go out. And actually once the clothing returns that I have packaged up today have gone back (about 75% of what I ordered), we won't be too horrendously over budget - maybe £150-200, spread mainly between food and my clothing.

    Which all sounds lovely, but the fact is I actually need some clothes for work - the returns today were all because they were unsuitable, rather than raging guilt about the purchases. Now that I've got a bit of a buffer in my business account, I need to take account of the other business expense of actually looking the part, so I continue to get work in. To this end, I'm going to start putting a percentage of turnover towards a 'professional dressing' budget. I still have a lot of work to do on my personal shopping issues (I'm not going to go as far as 'addiction', but I do enjoy clothes shopping and it's easy to enable myself due to my job), as I mentioned this morning, and I need to find that balance between looking the part for my job and overspending. I suspect that's going to a big part of this DF journey for me.

    To do today:
    1. Update YNAB as payments continue to clear from my account today. Continue to sob quietly. Done, and everything is finally accounted for.
    2. NSD. Done.
    3. Make risotto from the remaining wild garlic. Not done, will see if it's too limp and sad tomorrow.
    4. Tidy up the dining room and stairs, continuing my 'one area a day' mission. Done.
    5. Mend DD's dressing up dress, before it gets so bad I have to buy a replacement. Argh, not done.
    6. Do some social media while working - have done practically none over holidays. Not done. Always takes me ages to get back into doing this after a break. Will add to tomorrow's list.

    To do this week:
    1. Make more candles - I did actually do this, but they kept being left to burn for hours due to heavy bathroom usage, so need to make some more. Need to find more containers so I can make more at any one time.
    2. Tidy whole house. (Getting there)
    3. Attempt to balance holiday budget disaster area once all payments have cleared. Done. Not exactly joyfully, but at least the numbers make sense now, and the shortfall is accounted for (if not covered yet).
    £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
    • Sea Shell
    • By Sea Shell 20th Apr 17, 6:40 AM
    • 392 Posts
    • 348 Thanks
    Sea Shell
    I think it's a great idea to budget for your "work" clothes in your Business account. They are the "tools of your trade" after all - like staff uniforms. If you didn't do what you do, you wouldn't need to buy them at all would you.

    (Assuming this is "allowed" by the rules of taxation/accounting)
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow "
    • GeorgianaCavendish
    • By GeorgianaCavendish 20th Apr 17, 11:02 AM
    • 513 Posts
    • 2,305 Thanks
    GeorgianaCavendish
    I think you've done well to identify the areas where all your good MSE intentions are really challenged (celebration events / hosting people and personal clothes shopping). It's a bit like dieting, isn't it? Easier to stick to in the day-to-day, but the real tests are those special events.

    I think that adding envelopes for hosting and clothes shopping would be a good first step, even if you only manage to put £5 a month in each envelope you are creating some kind of buffer for the next event. With the grocery shopping, could you perhaps order the booze online and make use of a cashback website or voucher codes for cases of wine? Is it feasible to "invest" in a case or even a few extra bottles of wine or beer when there is a particularly good offer on MySupermarket? (If you haven't already, do check out the ALDI wine section - it's fab!)

    I really hear you on the clothes front because this is an area of spending-weakness for me too. You say that it is necessary for your job, is it possible that you could put together 3 or 4 outfits that are worn only when you see clients? I know that this is going to sound really sad but I have a fortnightly outfit planner spreadsheet, I get all my outfits for work planned out in advance, including shoes, accessories etc (with a bit of wiggle room in case I have a big client meeting added to my diary) and then don't deviate from it. It really takes the stress out of deciding what to wear when I'm rushing in the morning, and having 30 mins per week when I plan my outfits is really enjoyable - I like coming up with a few different combinations for the same base item I feel like a budget version of Cher from Clueless
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • JoJoC
    • By JoJoC 20th Apr 17, 11:27 AM
    • 1,196 Posts
    • 3,735 Thanks
    JoJoC
    I'd second the Aldi wine selection! Their £5 prosseco is also delightful! They have a really nice Malbec too, if you're into red wine My mum's favourite wine is from Aldi and it's only £3.95 or something.
    CC1: 3,774.32/4,200 | CC2: 5,077/5,393 | Loan: 7,430/15,000
    Total: 16,292.57/20,032 Paid since Feb17: 3,739 or 18.66%

    Mummy of two boys - Working hard to make better financial choices!
    *My debt busting and savings diary*
    • GeorgianaCavendish
    • By GeorgianaCavendish 20th Apr 17, 1:38 PM
    • 513 Posts
    • 2,305 Thanks
    GeorgianaCavendish
    Their prosecco really is great, I think it was your recommendation that got me started with Aldi wines JoJo! I can also recommend the Gavi and Cotes du Rhone, and I've just noticed that you can build your own case on their website. Useful around Christmas time!
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • JoJoC
    • By JoJoC 20th Apr 17, 1:58 PM
    • 1,196 Posts
    • 3,735 Thanks
    JoJoC
    Uh oh...apologies! Hope I haven't inadvertently cost you more money with that recommendation but glad it was useful
    CC1: 3,774.32/4,200 | CC2: 5,077/5,393 | Loan: 7,430/15,000
    Total: 16,292.57/20,032 Paid since Feb17: 3,739 or 18.66%

    Mummy of two boys - Working hard to make better financial choices!
    *My debt busting and savings diary*
    • mummytogirls
    • By mummytogirls 20th Apr 17, 3:07 PM
    • 5,427 Posts
    • 16,579 Thanks
    mummytogirls
    Great thank you are going to budget for your clothes out of the business account TOPM xx
    Mummytogirls x

    £23164.32 - 12/12/10
    £6936.45 - 04/09/17 - 70.99% paid off
    • dktreesea
    • By dktreesea 20th Apr 17, 7:21 PM
    • 5,552 Posts
    • 8,667 Thanks
    dktreesea
    We bought veggies at Aldi a couple of days ago. A cauliflower cost 29p. A 2.5kg bag of potatoes, 6 tomatoes and a cucumber later the bill had crept up to a miserly £1.74! Even cheaper than Lidl, where we usually go. My OH is still talking about the bill.
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