Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Feb 17, 9:56 AM
    • 666Posts
    • 5,443Thanks
    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 48
    • Silver Queen
    • By Silver Queen 13th Jun 17, 8:01 PM
    • 75 Posts
    • 346 Thanks
    Silver Queen
    TOPM I think that with your level of debt, you are fully aware that it'll be a long haul and as long as you're mindful of your spending and making informed decisions, knowing that it will mean not cutting down on your DFD so quickly and you are still willing to make that sacrifice, then fair enough.
    Debt Totals:
    350 Natwest Credit Card / Now 0
    15,500 Loan from Parents / Currently 13,000
    2,000 Overdraft
    • Karonher
    • By Karonher 13th Jun 17, 8:12 PM
    • 398 Posts
    • 1,926 Thanks
    Karonher
    For what it's worth, I think you are doing the right thing by breaking the budget for holidays. If you were paying off a couple of thousand I would say have a really frugal year, but you don't want to realise that you are about to become debt free and the children don't want to camp anymore.

    Surely it's worth adding a couple of months to the DFD to give them a holiday.
    Getting ready for Christmas 2017

    Aiming to make 4,500 online in 2017.
    • Treadingonplaymobil
    • By Treadingonplaymobil 13th Jun 17, 8:18 PM
    • 666 Posts
    • 5,443 Thanks
    Treadingonplaymobil
    Unexpected bit of free time this evening - DH was meant to be late home but ended up on time, so I have had a whole extra two hours to achieve things! Painted another batch of pickets - very nearly up to 40 painted (I think I need about 70, if my maths is correct). Need to buy the spikes to put the fence posts in and some batons to actually make the fence panels. Will be pleased to stop spending money on the front garden, but it honestly looks like a different house.

    Had a lovely catch up with my friend this morning, but we ended up chatting in the sunshine for a couple of hours while DC3 played nicely for once, so I didn't get as much done this morning as I intended. She is self employed in a similar field and has just given up one arm of her business, so it was good to compare notes about successes and failures.

    Another successful manic evening of swimming lessons then cubs - I made pasties again as they were a hit last week, and we even had leftover filling from last week in the freezer, so it literally cost the price of the pastry and an egg to glaze. Dinner win.

    to do today:
    1. paint another batch of fence pickets (I'm as bored as you are of seeing this on my list every day). Done.
    2. finish my mum's socks. Not done yet, although hoping for 20 mins knitting once I've cleared off here for the night.
    3. Chisel out some bricks next to the garden path to see how it looks. Not done, fell by the wayside after leisurely coffee.
    4. Declutter and tidy the DCs' room. Not done. Same as above.
    5. Mend DS1's school trousers. Not done, painted extra pickets instead as it was so nice outside.
    6. social media for work. Done, yay.
    7. Book camping weekend with friends for August. DH is on the case, as he needs to phone up thanks to our ginormo-tent.
    8. Make pasties for dinner. done.
    9. Cost out fence spikes and posts and figure out where the money is coming from to pay for them . done. More than I'd like to spend, but not as horrendous as I expected.
    10. Pay balance of holiday booking. We had saved 350 of the 425 due, but I have had to take the remaining 75 from Christmas/birthday/car maintenance budget pots, which are virtually empties for umpteenth time. Won't be able to top them up until end of summer. Argh.. Done. Depressing.

    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. Ask 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: 56,025.55/1st March 2025
    • in need of direction
    • By in need of direction 13th Jun 17, 10:41 PM
    • 4,317 Posts
    • 24,120 Thanks
    in need of direction
    Stumbled across your thread and have just read from the get go. I think you're doing really well and you have def given me food for thought. I've recently moved to self employment and panic every time there's another cost to the business as, while I have some work, it'll be a while before I receive any payments. I'm currently living off my OH and savings. What your recent entries have allowed me to see is that even though my savings are going down, apart from a blow out holiday for OH's 50th that was saved for, my mortgage is actually reducing more month on month than the savings. That's gotta be good so thank you.
    Mortgage at 01.01.14 119,481.83 today 82,269.82, target 75,000 by 31/12/17 Offset fund today 3,955.43 target 5,500 by 31/12/17
    Emergency fund 5.5k & 200 cash.
    determined to stop defining myself by my mistakes.
    Progress not perfection.
    • armchairexpert
    • By armchairexpert 14th Jun 17, 5:00 AM
    • 431 Posts
    • 2,898 Thanks
    armchairexpert
    I think there's never a perfect time to start a budget, it's just a case of starting and wiggling things around again and again as you keep going to try to make things balance a little better each month.
    Originally posted by Treadingonplaymobil
    Yep. On this, we started in February, so very near the start of the year, nice and tidy, and immediately got hit with annual expenses like the years' school fees. Whenever you start, you'll be hit by at least one big bill that you haven't had time to save up for.
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 aiming for May 2028
    1 June 2017 $221,986.42
    • Treadingonplaymobil
    • By Treadingonplaymobil 14th Jun 17, 5:02 AM
    • 666 Posts
    • 5,443 Thanks
    Treadingonplaymobil
    Week 18: Day 4

    Phew, quietest day of the week today. Mondays and Tuesdays are so full on with clubs now that its a relief to get to Wednesday.

    All the holiday chat yesterday reminded me that when we had our mini LBM last October (when we started using YNAB and realised quite how amazingly bad our situation and overspending was, before joining here in Feb), my aim for 2017 was simply to not increase the debt - I had no ambitions of reducing it at all. I just wanted to spend the year tracking our spending and ensuring we stayed within budget. Becoming debt free actually seemed a totally impossible dream, I hadnt even begun to think it was possible.

    it was only once I realised how much we could improve things by starting to pay back debt and reduce our minimum repayments so we were less stretched that actually becoming debt free one day became an idea on the horizon, and swiftly morphed into lets get rid of this debt for good. Of course, actually doing that has been a little harder to do than to say, but were making progress.

    This year is proving such a huge lesson in all the mindless ways we previously spent money, from too-regular cafe trips to camping spends and clothes shopping. I have honestly been shocked by how many of these mindless spends there are - I thought we were generally pretty good aside from our big issues (overcommitted on rent, childcare costs etc), but have realised that DH and I had both been overspending in an idle way since before we even met, and have continued to do so ever since. Turning this ship around has been much more oil tanker than gazelle, but I do feel weve made the turn. It might take us a little while to accelerate up to speed though .

    Here endeth the deep thoughts.

    Back to today. My biggest plan for today is to really tackle the DCs bedroom - with three of them in there it needs regular tidying and decluttering to be an enjoyable and useful space, and its well overdue a clear up.

    I am also going to pop into town and try to find a cheap washing up bowl - can you believe I still havent bought one?! I know.

    to do today:
    1. paint another batch of fence pickets (I know. again).
    2. finish my mum's socks.
    3. Chisel out some bricks next to the garden path to see how it looks.
    4. Declutter and tidy the DCs' room.
    5. Mend DS1's school trousers.
    6. social media for work.
    7. order fence spikes etc to pick up on friday
    8. plan out DHs annual leave with him for the rest of the year.
    9. pick up a fathers day card (and some card for the DCs to make cards) for DH and my dad from town.
    10. Ask my mum about the chair so I can relist it (didn't sell).

    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.
    5. Ask 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: 56,025.55/1st March 2025
    • warby68
    • By warby68 14th Jun 17, 5:56 AM
    • 755 Posts
    • 8,448 Thanks
    warby68
    Good morning, I'm back rooting for you in every way after my moment of complete exasperation yesterday I saw self-sabotage rather than deeply deeply ingrained behaviours which lead you to underplay the cost of most things.

    When I think about it, after 15 years solid overspending, getting the budget under control and standing still with debt would be a great achievement for year 1.

    Perhaps it would help if you posted some of your non-essential spending plans here BEFORE committing. I think its telling that you commit and then 'confess'. I promise to pipe down if you do (if you prefer)

    Another change might be just to learn to actually have the money in the right pot BEFORE committing, to force yourselves to gradually get a little bit ahead. I would think its quite depressing putting money in pots but always having to take it out for something else. That would mean, not booking more holidays until there was something actually in the holiday pot. You know every penny of your budget is accounted for so any new spends will need to be robbed from somewhere else. The discipline of waiting is probably a key change for you to make.

    Good luck with the washing up bowl and everything else today

    PS My squidgy bottomed WUB is available for 5.99 from Amazon compared to 8 John Lewis - you can borrow my Prime
    Last edited by warby68; 14-06-2017 at 7:57 AM.
    • Treadingonplaymobil
    • By Treadingonplaymobil 14th Jun 17, 9:47 AM
    • 666 Posts
    • 5,443 Thanks
    Treadingonplaymobil
    Good morning, I'm back rooting for you in every way after my moment of complete exasperation yesterday I saw self-sabotage rather than deeply deeply ingrained behaviours which lead you to underplay the cost of most things.

    When I think about it, after 15 years solid overspending, getting the budget under control and standing still with debt would be a great achievement for year 1.

    Perhaps it would help if you posted some of your non-essential spending plans here BEFORE committing. I think its telling that you commit and then 'confess'. I promise to pipe down if you do (if you prefer)

    Another change might be just to learn to actually have the money in the right pot BEFORE committing, to force yourselves to gradually get a little bit ahead. I would think its quite depressing putting money in pots but always having to take it out for something else. That would mean, not booking more holidays until there was something actually in the holiday pot. You know every penny of your budget is accounted for so any new spends will need to be robbed from somewhere else. The discipline of waiting is probably a key change for you to make.

    Good luck with the washing up bowl and everything else today

    PS My squidgy bottomed WUB is available for 5.99 from Amazon compared to 8 John Lewis - you can borrow my Prime
    Originally posted by warby68
    Your post just made me realise that I commit to these spends (camping, and a barbecue this weekend that I arranged a couple of days ago, among others) and it literally does not occur to me at the point of arranging it that I am committing to an outgoing, only that I am making plans to do something fun. It is only a few days/weeks down the line when the costs start to accrue (booking camping, shopping for barbecue) that it even occurs to me that I have committed to something with a cost attached. When I said mindless spending, it turns out that I really meant it! This is another area for me to think about and figure out strategies to avoid.
    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: 56,025.55/1st March 2025
    • Chandelier.
    • By Chandelier. 14th Jun 17, 12:41 PM
    • 284 Posts
    • 718 Thanks
    Chandelier.
    I've been following your diary from the beginning and it always amazes me how much you get done!

    I too am sometimes quick to commit to things. Our holiday for next year is a prime example. I need to work out total figures and start putting money away for it.

    I hope you manage to get your list done. It must feel great achieving everything you do
    • Wysiwyg49
    • By Wysiwyg49 14th Jun 17, 12:46 PM
    • 148 Posts
    • 1,233 Thanks
    Wysiwyg49
    I would think its quite depressing putting money in pots but always having to take it out for something else. That would mean, not booking more holidays until there was something actually in the holiday pot. You know every penny of your budget is accounted for so any new spends will need to be robbed from somewhere else. The discipline of waiting is probably a key change for you to make.
    Originally posted by warby68
    This is me exactly - on month 4 of YNAB and I'm at the depressed stage of thinking every month "I think this month will be sooo much better" - and about 2/3 through start having to transfer money out of the longer term pots to cover unexpected overspends. I cheer myself up by tracking how much money I put forward to the next month, and try to increase that each month. Also by sticking, more or less, to a 50/20/30 ratio for essentials/debts and savings/choices, which I am finding very useful and not too complicated.
    GC June 254.20/400
    • enthusiasticsaver
    • By enthusiasticsaver 14th Jun 17, 4:36 PM
    • 3,552 Posts
    • 6,196 Thanks
    enthusiasticsaver
    Unfortunately if you keep borrowing from longer term pots like money saved for Christmas, car service or insurance then you are always playing catch up and it will be difficult to get budgeting sorted for the long term which you need to do to sort out your debt problems.

    Having lots of fun things booked to look forward to makes life enjoyable and I fully understand it is miserable having to constantly think, can I afford this but you can't really afford not to. Barbecues can be done on the cheap though and just use the grocery money to buy your contribution if a joint affair with friends and family.
    Debt and mortgage free and saving for early retirement
    • Lucylocks
    • By Lucylocks 14th Jun 17, 7:10 PM
    • 34 Posts
    • 77 Thanks
    Lucylocks
    Huge thanks Warby68 for reminding me to cancel my free amazon prime membership - due for payment 18th June. Another 7.99 in the repayment pot
    LBM 28/3/17 24,971 20/6/17 14,948
    • Treadingonplaymobil
    • By Treadingonplaymobil 14th Jun 17, 8:27 PM
    • 666 Posts
    • 5,443 Thanks
    Treadingonplaymobil
    This is me exactly - on month 4 of YNAB and I'm at the depressed stage of thinking every month "I think this month will be sooo much better" - and about 2/3 through start having to transfer money out of the longer term pots to cover unexpected overspends. I cheer myself up by tracking how much money I put forward to the next month, and try to increase that each month. Also by sticking, more or less, to a 50/20/30 ratio for essentials/debts and savings/choices, which I am finding very useful and not too complicated.
    Originally posted by Wysiwyg49
    I'm still like this, but I can see that the 'crisis point' every single month comes a little later each time, and I think eventually we will make it to the end of the month with these pots intact! I guess if things weren't heading in the right direction on that front (i.e. I was still raiding them on the 5th every month still), I'd look to change what I was doing with my budget to try to let them build a bit, but I figure I'm making sloooowwwww progress.
    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: 56,025.55/1st March 2025
    • Treadingonplaymobil
    • By Treadingonplaymobil 14th Jun 17, 8:36 PM
    • 666 Posts
    • 5,443 Thanks
    Treadingonplaymobil
    Fairly uneventful day today, although annoyingly wasn't able to get fence posts as they had sold out in B&Q - clearly everyone is building fences at the moment! Did manage to get the horizontal planks so I can paint them and get the individual fence panels made though.

    to do today:
    1. paint another batch of fence pickets (I know. again). done.
    2. finish my mum's socks. SO NEARLY DONE.
    3. Chisel out some bricks next to the garden path to see how it looks. STILL NOT DONE.
    4. Declutter and tidy the DCs' room. done, hurrah! Looks so much bigger and nicer.
    5. Mend DS1's school trousers. done.
    6. social media for work. done.
    7. order fence spikes etc to pick up on friday. done, but picked them up today since they were available immediately.
    8. plan out DHs annual leave with him for the rest of the year. not done, again.
    9. pick up a fathers day card (and some card for the DCs to make cards) for DH and my dad from town. whoops. Better remember this tomorrow.
    10. Ask my mum about the chair so I can relist it (didn't sell). Done. Now need to relist.

    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. Going ok, although not making me millions,
    5. Ask my mum about the chair and relist it with better description (assuming it doesn't sell by Tue). done.
    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: 56,025.55/1st March 2025
    • warby68
    • By warby68 14th Jun 17, 8:43 PM
    • 755 Posts
    • 8,448 Thanks
    warby68
    But did you get the washing up bowl ?
    • Treadingonplaymobil
    • By Treadingonplaymobil 14th Jun 17, 8:59 PM
    • 666 Posts
    • 5,443 Thanks
    Treadingonplaymobil
    But did you get the washing up bowl ?
    Originally posted by warby68
    I did not! I haven't seen The One yet. And it's not a purchase I want to rush into, it is a big commitment after all
    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: 56,025.55/1st March 2025
    • emmie26
    • By emmie26 14th Jun 17, 11:07 PM
    • 376 Posts
    • 1,032 Thanks
    emmie26
    this washing up bowl has been built up a lot now, let's hope it lives up to the hype

    I'm embarrassed to say I don't even have a washing up bowl I just have on of those cage things in my sink the shame

    Total Debt: 24,359.79 23,124
    debt reduced by 5%
    Debt free date: May 2019
    • Treadingonplaymobil
    • By Treadingonplaymobil 15th Jun 17, 5:03 AM
    • 666 Posts
    • 5,443 Thanks
    Treadingonplaymobil
    Week 18: Day 5

    OMG how are we around to Thursday again? I'm sure it was only about three days ago I was posting about liking Thursdays as DC3 has three hours at preschool so I usually get lots done. Although I am also wishing time away as I'm feeling relieved we're halfway through the month - feeling quite poor and counting down till payday.

    DH is suppose to have his pay rise meeting today after it got cancelled last Friday. Fingers crossed. He's not expecting amazing things, but we want to know the numbers we have to work with, and he's hoping if it's approved today that it might get to payroll in time to appear in June's salary.

    to do today:
    1. paint another batch of fence pickets and the batons to join them.
    2. finish my mum's socks.
    3. Chisel out some bricks next to the garden path to see how it looks.
    4. Finish last bit of tidying the DCs' room - amusingly, it is the playmobil that is left to sort. Bets on whether I tread on any?
    5. social media for work.
    6. order fence spikes etc to pick up on friday.
    7. plan out DH’s annual leave with him for the rest of the year.
    8. pick up a fathers day card (and some card for the DCs to make cards) for DH and my dad from town.
    9. Plan BBQ on weekend for minimum spends - the other family are bringing pudding so just need main course and drinks. Maybe veggie kebabs to bulk out whatever meat we get.
    10. Get the last of the DCs' bedding out in the sunshine for a few hours after taking the sheets off to wash - I've done one lot each day this week to let them air a bit.

    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. Going ok, although not making me millions,
    5. Ask my mum about the chair and relist it with better description (assuming it doesn't sell by Tue). done.
    Last edited by Treadingonplaymobil; 15-06-2017 at 5:14 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 6th June 17/DFD: 56,025.55/1st March 2025
    • armchairexpert
    • By armchairexpert 15th Jun 17, 6:22 AM
    • 431 Posts
    • 2,898 Thanks
    armchairexpert
    TOPM you're just the most gracious and likeable person, your insights about your own spending strike so many chords with me and I'm always glad you go into detail, and you respond to everything without getting defensive.

    I hope the payrise is pleasantly surprising!
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 aiming for May 2028
    1 June 2017 $221,986.42
    • JoJoC
    • By JoJoC 15th Jun 17, 9:32 AM
    • 937 Posts
    • 2,890 Thanks
    JoJoC
    I'm wishing your husband the best of luck on the payrise front. I'm hoping that this is the month of payrises, as my husband just received an amazing payrise!

    I'm expecting a grand unveiling of this washing up bowl when it is finally purchased

    The comment that you made above about committing to things without thinking of the financial implications, just the fun aspect, struck so many chords with me. That's how I have ended up with as busy a year as I have! Although, the latest addition to that (a few months ago we agreed to a festival in Liverpool this summer) I did think long and hard about committing to it and we decided that it was worth it and I'm glad that we did because my BIL and MIL paid for our tickets, so we just needed to fork out for the hotel, spends and 50% share in fuel. All these things add up but I feel like I am making progress towards thinking about the financial implication of things before committing.

    I also sympathise with you - it's so hard to change your mindset when you're used to mindlessly spending, you have kids to appease and you still have your life to live. There's no quick fix for your amount of debt and you guys are going to be in it for the long haul, but I think you do realise how important it is for you to get stabilised with a good buffer and then you can work at overpaying the debt and allowing for some nice treats along the way. It's not easy to find that balance and, to be honest, i think it'll just be a work in progress rather than something you just 'get'.

    I hope your Thursday is productive!
    CC1: 3,741/4,200 | CC2: 5,129/5,393 | Loan: 7,430/15,000
    Total: 16,300/20,032 Paid since Feb17: 3,732 or 18%

    Mummy of two boys - Working hard to make better financial choices!
    *My debt busting and savings diary*
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

188Posts Today

1,195Users online

Martin's Twitter