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  • FIRST POST
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Feb 17, 9:56 AM
    • 794Posts
    • 6,366Thanks
    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 46
    • JoJoC
    • By JoJoC 9th Jun 17, 3:33 PM
    • 1,063 Posts
    • 3,282 Thanks
    JoJoC
    Ikea is your friend for teaspoons - I got a box of at least 20 teaspoons for 1.50! We also manage to lose teaspoons...can't imagine why! I blame it on living in a house with three males.
    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*
    • Treadingonplaymobil
    • By Treadingonplaymobil 9th Jun 17, 4:18 PM
    • 794 Posts
    • 6,366 Thanks
    Treadingonplaymobil
    I am not going to tell you how many teaspoons I got for my 10.50 . Seriously, I really like our cutlery, I tried replacing them with cheap Sainsbury's ones but they irritate me daily, so I have downgraded them to camping ones and bought nice ones. Having received a refund on the shirt for rather more than 10, I was guilt free.
    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 6th June 17/DFD: 55,820.43/1st May 2025
    • Silver Queen
    • By Silver Queen 9th Jun 17, 9:29 PM
    • 121 Posts
    • 554 Thanks
    Silver Queen
    My boyfriend is exactly the same with cutlery. He's so picky and hates the cheaper kind because it's too flimsy. Personally, I don't get it. A spoon's a spoon, if it scoops food up and applies it to my gob, I'm happy
    • Hiddenidenity
    • By Hiddenidenity 9th Jun 17, 9:38 PM
    • 3,874 Posts
    • 15,408 Thanks
    Hiddenidenity
    My boyfriend is exactly the same with cutlery. He's so picky and hates the cheaper kind because it's too flimsy. Personally, I don't get it. A spoon's a spoon, if it scoops food up and applies it to my gob, I'm happy
    Originally posted by Silver Queen
    Me too I'd use plastic if I could get away with it

    DFW 733.71/7348.71
    Rent Arrears 346.28/3381.28

    June 17 PA 121.25 + 70 Cash + 50 Amazon
    July 17 PA 216.52 + 25 Cash + 65 Amazon
    • Silver Queen
    • By Silver Queen 9th Jun 17, 10:07 PM
    • 121 Posts
    • 554 Thanks
    Silver Queen
    Me too I'd use plastic if I could get away with it
    Originally posted by Hiddenidenity
    We are the absolute pinnacle of class

    Sorry TOPM for sullying your diary with our blasphemy
    • reality_check
    • By reality_check 9th Jun 17, 10:18 PM
    • 603 Posts
    • 1,129 Thanks
    reality_check
    I am really fussy with cutlery! I always notice it when round at peoples houses, not to judge them if not to my cutlery standard, but my OH thinks it's weird to even be aware of it in the first place! Can't be flimsy and can't have plastic handles if it's going to make the cut! Glad someone else understands! xx
    • Cherryfudge
    • By Cherryfudge 9th Jun 17, 10:55 PM
    • 507 Posts
    • 1,474 Thanks
    Cherryfudge
    Yay! to the refund. (And well done for being brave about getting it).

    Teaspoons abduct odd socks and turn them into biro lids. I thought everyone knew that.
    30 days in June...
    NSDs 9/12, Exercise 8/12, Housekeeping 108.57/120
    • Treadingonplaymobil
    • By Treadingonplaymobil 10th Jun 17, 6:30 AM
    • 794 Posts
    • 6,366 Thanks
    Treadingonplaymobil
    I am really fussy with cutlery! I always notice it when round at peoples houses, not to judge them if not to my cutlery standard, but my OH thinks it's weird to even be aware of it in the first place! Can't be flimsy and can't have plastic handles if it's going to make the cut! Glad someone else understands! xx
    Originally posted by reality_check
    I always notice it too! More in a 'ooh, this is nice' if someone has good cutlery, . Plastic handles are not ok. My mum has really nice wooden handled cutlery that she and my dad got as a wedding present (40 odd years ago, she kept them when they divorced a decade later ), I contemplated getting the same at one stage, but even I drew the line at 13.50 for a teaspoon!
    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 6th June 17/DFD: 55,820.43/1st May 2025
    • Treadingonplaymobil
    • By Treadingonplaymobil 10th Jun 17, 6:36 AM
    • 794 Posts
    • 6,366 Thanks
    Treadingonplaymobil
    Week 17: day 7

    Ahhh, weekend. I'm actually working pretty much all weekend, but admin stuff, no clients, so it's much more relaxed.

    Also going to try to get the final coat of paint on the front of our house, and DH is hiring a tool to cut down the old council installed concrete fence posts so we can put up our new homemade fence (donated pickets, I've been painting them all week)

    to do today:
    1. Try again to tidy and declutter the utility room, which has become a bit of a dumping ground.
    2. Knit a little more of the socks for my mum's birthday present.
    3. Plan budget Father's Day gift/activity. Have been having a think about this and no real inspiration is striking.
    4. Check whether we have any more homemade candles, and whether I need to order essential oils to make more if not.
    5. Menu plan and shopping list for next week - needs to come in under 70, preferably under 60 to allow for top ups.
    6. Check DC1's cub camp packing list and see if we need to plan on buying anything.
    7. Prep some work social media posts for next week, as I am not keeping on top of daily posting at the minute.

    to do this week:
    1. finish painting the pickets for the front fence. have managed a few more, hoping to get another batch done tomorrow
    2. plan June's working time (still haven't 'gone back' to work thanks to half term). Done!
    3. roughly plan out summer working time (i.e. where I can squeeze in the odd hour while the DC are on holiday).
    4. apply for new 0% balance transfer card. Done, accepted, DFD recalculated.
    5. research utilities providers - I suspect we can move again and save a little bit. Done. No real saving, but have avoided a price rise.
    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 6th June 17/DFD: 55,820.43/1st May 2025
    • warby68
    • By warby68 10th Jun 17, 6:52 AM
    • 770 Posts
    • 8,619 Thanks
    warby68
    I like cutlery with 'weight' in the handles and all metal - ours isn't expensive but has to feel right. Hate 'bendy' metal cutlery. My husband is the same and there is next to nothing he bothers about like that. We have a mix of two sets in the kitchen - we both rummage through to get a 'preferred' spoon.

    Best thing I've learnt after many years shopping is that you hardly every have to pay 'full price' if you can just make yourself wait a little. If I'm buying items at the top end of my budget (which of course will be the bottom end of ToPM's ) then I have to make sure its on some kind of offer or wait, even if its just a discount code or bought with a discounted or gifted gift card.

    Strangely enough, cutlery is always going on sale.
    • Wysiwyg49
    • By Wysiwyg49 10th Jun 17, 5:57 PM
    • 154 Posts
    • 1,293 Thanks
    Wysiwyg49
    We also manage to lose teaspoons...can't imagine why! I blame it on living in a house with three males.
    Originally posted by JoJoC
    My son when a toddler used to regularly put the teaspoon in the bin with the yoghurt pot! I have bought dozens of them. I haven't found ones to match my other cutlery for a couple of years now and it drives me mad only having 4 of the original type left...
    GC July 0/500 June 497.80/400
    • Wysiwyg49
    • By Wysiwyg49 10th Jun 17, 6:03 PM
    • 154 Posts
    • 1,293 Thanks
    Wysiwyg49
    Just to divert the topic from teaspoons I think I've fallen into a trap with a zero interest balance transfer...maybe someone on here can advise.

    I transferred one lump to a 0% card and it expires in Sep 2018. Failed to get my overspending under control as quick as I thought (ever the optimist) and transferred some more later, to the same card. But the offer had changed and the exp date of the 0% for that extra is Oct 2017. I am paying it off as planned, BUT just realised the order they apply the payments is to the oldest balance first.

    So this means, after Oct this year I will pay interest on part of the balance! Unlikely I'll pay it all off by then. Should I get another 0% card and move it before then? (This started out as a 2 year plan so Sept 2018 is still fine.)
    GC July 0/500 June 497.80/400
    • Treadingonplaymobil
    • By Treadingonplaymobil 10th Jun 17, 6:48 PM
    • 794 Posts
    • 6,366 Thanks
    Treadingonplaymobil
    Just to divert the topic from teaspoons I think I've fallen into a trap with a zero interest balance transfer...maybe someone on here can advise.

    I transferred one lump to a 0% card and it expires in Sep 2018. Failed to get my overspending under control as quick as I thought (ever the optimist) and transferred some more later, to the same card. But the offer had changed and the exp date of the 0% for that extra is Oct 2017. I am paying it off as planned, BUT just realised the order they apply the payments is to the oldest balance first.

    So this means, after Oct this year I will pay interest on part of the balance! Unlikely I'll pay it all off by then. Should I get another 0% card and move it before then? (This started out as a 2 year plan so Sept 2018 is still fine.)
    Originally posted by Wysiwyg49
    One of the reasons we have had to get a new 0% deal is exactly the same thing (although we knew at the time we did the second balance transfer that was the case, we just didn't have any choice at the time). I think the most sensible thing, if you're likely to be accepted for a 0% is to apply for one a few weeks before the 0% expires. The catch is that it has to be for the entire balance, as they'll presumably transfer any balance from the longest 0% deal first too.
    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 6th June 17/DFD: 55,820.43/1st May 2025
    • Treadingonplaymobil
    • By Treadingonplaymobil 10th Jun 17, 6:59 PM
    • 794 Posts
    • 6,366 Thanks
    Treadingonplaymobil
    Whoop, final coat of paint done on the front of the house - started painting at 7am and was done by 10am (tiny house front! The joys of living in a titchy bungalow), including the very dingy rough rendered low wall between us and the neighbours. It all looks so much smarter out there now. Can't wait to get the little fence up at the front and put our plants out. I would say the makeover would be complete then, but I've decided today that I want to chisel out some old bricks lining the path and bringing the gravel right up to the edge of the path.

    Also managed to declutter and clean our horrible little utility/downstairs toilet, and it looks slightly more civilised in there. It's got a horrible ancient pink bathroom suite, but because it's in a single storey annexe, it's likely to be demolished if/when we do any sort of extension, so it seems mad to spend money on it (see, I can be sensible!).

    Today hasn't quite been a NSD as I snuck out to buy an aero bar earlier, but other than that and a pot of cream, it's been spend-free. And DH managed to only spend on Saturday sweets with the DC, despite being out with them for about 5 hours (3 hours of it on a walk with Beaver group, but they took snacks and lunch). There's hope for us yet.

    Have been contemplating all the camping gear we need (a little) and want (a lot). I need to get all our camping kit out and have a proper look at what we have and what state it's all in. I always have The Fear the first time I get our tent out each year - it's a beautiful big canvas bell tent, but I always worry it's going to have been fractionally damp when it went away and have gone mouldy, despite us leaving it in a room with a dehumidifier for a week before packing it up (bell tent = another investment purchase that I absolutely love). We are camping five times (some weekends, some longer) between mid-July and the end of August

    to do today:
    1. Try again to tidy and declutter the utility room, which has become a bit of a dumping ground. done.
    2. Knit a little more of the socks for my mum's birthday present. done.
    3. Plan budget Father's Day gift/activity. Have been having a think about this and no real inspiration is striking. Have decided to visit a local tent show (I know. The glamour) as we need new sleeping mats (currently have cheap deflating airbed) and they're likely to have some out to try, then we can hunt online to get them cheaper.
    4. Check whether we have any more homemade candles, and whether I need to order essential oils to make more if not. still not done.
    5. Menu plan and shopping list for next week - needs to come in under 70, preferably under 60 to allow for top ups. not done yet, will do tomorrow morning before DH takes the DC shopping.
    6. Check DC1's cub camp packing list and see if we need to plan on buying anything. not done
    7. Prep some work social media posts for next week, as I am not keeping on top of daily posting at the minute. not done.

    to do this week:
    1. finish painting the pickets for the front fence. have managed a few more, hoping to get another batch done tomorrow
    2. plan June's working time (still haven't 'gone back' to work thanks to half term). Done!
    3. roughly plan out summer working time (i.e. where I can squeeze in the odd hour while the DC are on holiday). done.
    4. apply for new 0% balance transfer card. Done, accepted, DFD recalculated.
    5. research utilities providers - I suspect we can move again and save a little bit. Done. No real saving, but have avoided a price rise.
    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 6th June 17/DFD: 55,820.43/1st May 2025
    • Treadingonplaymobil
    • By Treadingonplaymobil 11th Jun 17, 9:26 AM
    • 794 Posts
    • 6,366 Thanks
    Treadingonplaymobil
    Week 18: Day 1

    Morning! The sun is due to put in an appearance here today, so I'm hoping to get a few laundry loads out on the line.

    I have miles more on my list than I am actually likely to achieve today - the list in my bullet journal today has a slightly crazy 33 things on it. Wonder how many I'll have ticked off by the end of the day. For starters I'm just about to do menu plan and use My Supermarket to keep it within budget. After the overspends in the first few days of the month I am down to a weekly food budget of 70pw, so am hoping to get it <60 to allow for top ups.

    to do today:
    1. menu plan and shopping list.
    2. Paint another batch of fence pickets.
    3. Chisel out some bricks next to the garden path to see how it looks.
    4. Laundry x1,000,000
    5. Mend DS2's shorts
    6. Mend DS1's school trousers
    7. Plan next week's work out.
    8. Few hours work.
    9. Empty shed with DH and deliver junk (broken old cupboard and table that were there when we moved in) to the tip.

    to do this week:
    1. Make picket fence panels.
    2. Finish digging trench and gravelling under fence location.
    3. Go through camping stuff and plan what we need for the summer's camping trips.
    4. Keep focusing on smaller business while main business is quiet - made a couple of sales yesterday, the attention does pay off.
    5. As my mum about the chair and relist it with better description (assuming it doesn't sell by Tue).

    Weekly budget round up
    Last week's debt total 56,216.10
    This week's debt total 56,462.86
    Total paid off last week -246.76 (increase due to balance transfer fee)
    Grand total paid off 2,145.37
    Last edited by Treadingonplaymobil; 11-06-2017 at 8:31 PM.
    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 6th June 17/DFD: 55,820.43/1st May 2025
    • Treadingonplaymobil
    • By Treadingonplaymobil 11th Jun 17, 8:29 PM
    • 794 Posts
    • 6,366 Thanks
    Treadingonplaymobil
    Week 18: Day 1

    Wow, busy day. Got lots done, including about a million loads of laundry, so now have ironing pile of doom and somehow still have laundry in the basket. This seems unreasonable. I added an extra 5 items to my list today, making a whopping 38, but managed to cross off a moderately impressive 22 items, so a mere 16 to carry forward to tomorrow . I did sort some annoying boring chores like setting up security key on my phone for online banking and swapping over DS2's school trousers for the next size up though, two jobs which have been moving from daily list to daily list for at least a week.

    Was very impressed with my menu planning and DH's Lidl/Sainsburys shopping - the total for the week was 51.09. I did have to wiggle some things round in My Supermarket to get it that low, and be selective about what we stock up on this week - we needed big bags of rice and lentils as had run out, so a couple of things, like stain remover, have had to be postponed until next week. However, that does give us a little leeway for a top up shop, plus hopefully a couple of quid leftover at the end of the week (unheard of in recent weeks!).

    to do today:
    1. menu plan and shopping list. done, very successfully.
    2. Paint another batch of fence pickets. done. Have realised that I don't have enough paint, so will need to fork out on some more at some stage.
    3. Chisel out some bricks next to the garden path to see how it looks. not done, but DH did angle grind away the base of some concrete fence posts that were in the way of the new picket fence, so some progress in the front garden.
    4. Laundry x1,000,000. Done.
    5. Mend DS2's shorts. Not done.
    6. Mend DS1's school trousers. Not done.
    7. Plan next week's work out. Done.
    8. Few hours work. Done, amazingly, in between everything else.
    9. Empty shed with DH and deliver junk (broken old cupboard and table that were there when we moved in) to the tip. Shed emptied, but junk is sat in garden as the tip closed earlier than we realised. At least we checked before loading up the car! Need to sort out all the remaining stuff at some stage.

    to do this week:
    1. Make picket fence panels.
    2. Finish digging trench and make gravel channel under fence location.
    3. Go through camping stuff and plan what we need for the summer's camping trips.
    4. Keep focusing on smaller business while main business is quiet - made a couple of sales yesterday, the attention does pay off.
    5. As my mum about the chair and relist it with better description (assuming it doesn't sell by Tue).
    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 6th June 17/DFD: 55,820.43/1st May 2025
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Jun 17, 5:30 AM
    • 794 Posts
    • 6,366 Thanks
    Treadingonplaymobil
    Week 18: Day 2

    Just remembered another good MSE thing I did yesterday. I have two CCs that I don't use, one with a limit of 2k and one 8k (this used to be my 'everyday spending' one which we were constantly spending on then doing balance transfers into 0% deals). I closed the 2k one (don't even have a card for that one, but it's an HSBC one leftover from my student account days, and I could theoretically get a card and spend on it) and reduced the limit on the other to 3k - this is essentially our 'emergency fund' while we don't have one, as it's the only cc we have with no 0% balance on it - i haven't used it since LBM, so I'm comfortable keeping it - the CC isn't kept in my wallet. This has reduced our available credit by 5k, which I think just helps my occasional 'ooh, I have tons of credit available' mindset, and hopefully will also help with any future mortgage/0% applications. In a few months we will also be able to close the MBNA card which now only has a balance of 650ish since transferring it to the barclaycard (which has always had a 15k limit, so didn't need to be increased to absorb the MBNA balance) so that will be another 9k of available credit gone. Feels good and productive to get those things done, even though they don't actually affect our debt.

    to do today:
    1. Ironing (the pile is towering over me on the sofa as I type)
    2. Paint another batch of fence pickets.
    3. Chisel out some bricks next to the garden path to see how it looks.
    4. get another couple of laundry loads done
    5. Mend DS2's shorts.
    6. Mend DS1's school trousers.
    7. Pack and post orders for smaller business.
    8. Work on newsletter for larger business.
    9. Reply to some work enquiries.
    10. Declutter and clean our room (finally have finished downstairs by doing a room a day).
    11. Do some more knitting on my mum's socks.
    12. Book camping weekend with friends for August.
    13. Delete 3k limit cc from the 'wallet' on the computer so I can't be tempted to use it for online shopping at Christmas or similar.

    to do this week:
    1. Make picket fence panels.
    2. Finish digging trench and make gravel channel under fence location.
    3. Go through camping stuff and plan what we need for the summer's camping trips.
    4. Keep focusing on smaller business while main business is quiet - made a couple of sales yesterday, the attention does pay off.
    5. As my mum about the chair and relist it with better description (assuming it doesn't sell by Tue).
    Last edited by Treadingonplaymobil; 12-06-2017 at 7:58 PM.
    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 6th June 17/DFD: 55,820.43/1st May 2025
    • stoplurking
    • By stoplurking 12th Jun 17, 6:59 AM
    • 323 Posts
    • 2,064 Thanks
    stoplurking
    Hi ToP

    Serial lurker here, I love reading your diary and look for update every morning. You're doing really well, your mindset is shifting even if slightly held back by teaspoons etc!

    Re item 3 on this week's epic list, just thought I'd say that Aldi are doing camping stuff as part of their Special buys promotion sometime in the next week or two. Might be some things you identify as needs that you can get there and they're usually reasonably priced, good quality etc.

    Good luck with it all. X

    Edit - just noticed they have festival-type camping stuff on offer at present. The other camping stuff goes on sale Sunday 18th June. You never know, might be worth a look. X
    Last edited by stoplurking; 12-06-2017 at 7:23 AM. Reason: To add date
    LBM Oct12 Debts at LBM 17715.93.
    Orig DFD Apr15 DFD 24/12/13
    3-6monthEFC#9 2080/4000 52%
    • enthusiasticsaver
    • By enthusiasticsaver 12th Jun 17, 7:02 AM
    • 3,684 Posts
    • 6,649 Thanks
    enthusiasticsaver
    Reducing credit available is sensible in your situation I think but bear in mind that on mortgage credit scoring they look at credit availability against credit used and high percentage of credit used is frowned on. Saying that I still think if you have the mindset of I have credit available therefore I can spend then reducing ideally the number of cards and limits is a good idea.

    How are you getting on with monthly spending pots and do you have one for home improvements to do some of these smaller jobs until you are in a position to do extension/alterations?
    Debt and mortgage free and saving for early retirement
    • Silver Queen
    • By Silver Queen 12th Jun 17, 10:06 AM
    • 121 Posts
    • 554 Thanks
    Silver Queen
    TOPM your to-do list exhausts me every day just by reading it!

    I just wanted to echo what enthusiasticsaver is saying...as far as I recall, I thought it was best to have a large amount of available unspent credit rather than having less credit but all of it utilised. Do you have the willpower to keep the cards but not use them? Or maybe cut up the physical cards but don't close the account?
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