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  • FIRST POST
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Feb 17, 9:56 AM
    • 924Posts
    • 7,826Thanks
    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 57
    • Hiddenidenity
    • By Hiddenidenity 13th Jul 17, 12:08 PM
    • 4,743 Posts
    • 20,610 Thanks
    Hiddenidenity
    Popping in with some more free ideas

    Do you have a local museum thats free? We have quite a few here that are free. Then even more that are free/small donation in Manchester. We make use of these a lot! they always have activities on in the school holidays.

    Library? Our library again had activities on in the holidays, our local one has closed but the one in town does similar so maybe its nationwide?

    Canal walks if you have one local

    We have a few country parks that again put free activities on in the holidays

    We have movie nights (Netflix borrowed of a relative and some homemade cheap snacks)

    When the weathers good we do 'picnics in the garden'

    Arts/crafts can be done with all sorts of random leftovers and bits round the house/garden.
    DFW £1313.71/£7348.71 Rent Arrears £466.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
    • Suffolk lass
    • By Suffolk lass 13th Jul 17, 4:21 PM
    • 1,470 Posts
    • 16,850 Thanks
    Suffolk lass
    My Mum also got me to keep a diary one summer holiday (which she still has) and it is amazing how little it takes to give children a good time. We used to especially like camping in the garden with a picnic (or BBQ) and judging by my diary, lots of playing tennis, making camps and swimming
    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 13th Jul 17, 8:43 PM
    • 924 Posts
    • 7,826 Thanks
    Treadingonplaymobil
    Thank you so much for all the ideas - we have an A3 sheet absolutely covered in ideas, some cheap, some free, some expensive (not many), which should be a good resource when we're feeling uninspired over the summer!

    I was thinking of something I wanted to order today (a desk, not relevant), and realised how incredibly easy it would be to spend the entire amount we've paid off - even though it's been such a massive slog, it would only take one or two indulgent months to completely reverse the progress we've made. Scary. I guess because we were overspending so dramatically every single month (like, a grand or so), it feels like we've made absolutely freaking huge cutbacks and ought to be paying off at least a thousand a month, but actually we're just not gaining an extra £1k in debt each month, and then managing to pay off a few hundred on top of that. Loooonnnngggggg way to go.

    Anyway, it's made me realise how I am still really getting used to the 'new' budget (ie one that actually bears some relationship to our income); it still feels like we are depriving ourselves every month rather than just living normally. I wonder how long it will take for this lifestyle to feel normal and the previous life to feel extravagant.

    side note: washing up bowl in use, but according to DH is too small. I've told him he's in charge of sourcing the next one.

    to do today
    1. make butterbean soup. Not done, as I realised we had enough leftovers for dinner tonight, and for me for the weekend, and I couldn't be bothered to make it to instantly freeze it. Will make it on the weekend to welcome the wanderers home from their camping trip.
    2. Continue rearranging all the stuff I've moved out of the dining room and making space for it - nothing like moving things around to make you realise what's useful and what is just clutter. Ongoing!
    3. finish tidying my bedroom. Done.
    4. make candles. Done, only two days after putting it on my list! I think it took about a month last time.
    5. Scale the mountain range that is my ironing pile. Done. Where's my halo?
    6. re-pot my windowsill cacti - they have outgrown their little pots! Not done. Forget the halo.
    7. Walk 10,000 steps - this has slipped again and it makes such a difference to how I feel. Not quite done I think (pedometer on my phone on the blink), but I did get out for two reasonable walks which was good.
    8. social media. Done.

    to do this week
    1. Order camping gear needed. Done - limited it to new self inflating mat for DH and I and a sleeping bag for DC3 (who never had one while in a cot, but will now she is out on a big bed). That's enough to see us through for now, but will need a single bed for DC3 at some stage (she can share the double bed with DH for the camping trip next weekend as I'm not going). Going to see if I can get through without buying any more equipment this summer, but who knows what will break on the first outing of the year.
    2. Continue with cleaning the house thoroughly one room at a time. Ongoing.
    3. Make strawberry jam with the big batch of strawberries in the freezer. Done!
    4. Order walking boots for me, preferably on sale or with some cashback to take the sting out of it. Not going to do this, as discussed above.

    Aims for July:
    1. Pay some extra off the MBNA card - I'd like this card gone asap. Well, a whopping £15 paid on top of the minimum payment so far, hoping to make another payment before end of month.
    2. Pay for camping holiday commitments out of self employed income rather than adding to debt.
    3. Stick to the budget even more closely than in June!
    £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
    • armchairexpert
    • By armchairexpert 14th Jul 17, 1:35 AM
    • 603 Posts
    • 3,830 Thanks
    armchairexpert
    I guess because we were overspending so dramatically every single month (like, a grand or so), it feels like we've made absolutely freaking huge cutbacks and ought to be paying off at least a thousand a month, but actually we're just not gaining an extra £1k in debt each month, and then managing to pay off a few hundred on top of that. Loooonnnngggggg way to go.
    This is where we are as well! The only difference is that it's mortgage, but we run a Line of Credit mortgage. So what happens is once a year we pay off a big chunk when the tax returns come in (long story but we always get a large tax return) and then slowly eat back into that overpayment over the year. And I didn't realise that. So, like you, I feel like we've made huge cut backs, and we're now breaking even instead of going backwards. And that's great! Except I thought the huge cut backs would mean we got ahead and things got easier. So, sympathies.
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 aiming for May 2028
    14 August 2017 - Refinanced: $220,000
    September 2017 - $218,597.77
    • Treadingonplaymobil
    • By Treadingonplaymobil 14th Jul 17, 5:25 AM
    • 924 Posts
    • 7,826 Thanks
    Treadingonplaymobil
    Week 22: Day 6

    Sigh, have signed up for a 'school trip' with DC3's preschool today which I could really live without. Was tempted to not go as I haven't mentioned it to DC3, but it will be good exercise (walking there, and plenty of walking round) and I have already paid (£10), so it would be a total waste. So need to make a packed lunch to take.

    And once we're back from that, I need to help DH pack the car to take the DC camping for the weekend. But then I get two whole days of peace and quiet. Won't know what to do with myself!

    to do today
    1. make wraps for packed lunch.
    2. make packed lunches.
    3. Continue rearranging all the stuff I've moved out of the dining room and making space for it.
    4. Walk 10,000 steps.
    5. social media for work.
    6. Donate to leaving present for head teacher.
    7. help DH pack for camping.

    to do this week
    1. Order camping gear needed. Done - limited it to new self inflating mat for DH and I and a sleeping bag for DC3 (who never had one while in a cot, but will now she is out on a big bed). That's enough to see us through for now, but will need a single bed for DC3 at some stage (she can share the double bed with DH for the camping trip next weekend as I'm not going). Going to see if I can get through without buying any more equipment this summer, but who knows what will break on the first outing of the year.
    2. Continue with cleaning the house thoroughly one room at a time. Ongoing.
    3. Make strawberry jam with the big batch of strawberries in the freezer. Done!
    4. Order walking boots for me, preferably on sale or with some cashback to take the sting out of it. Not going to do this, as discussed above.

    Aims for July:
    1. Pay some extra off the MBNA card - I'd like this card gone asap. Well, a whopping £15 paid on top of the minimum payment so far, hoping to make another payment before end of month.
    2. Pay for camping holiday commitments out of self employed income rather than adding to debt.
    3. Stick to the budget even more closely than in June!
    £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 15th Jul 17, 5:13 PM
    • 924 Posts
    • 7,826 Thanks
    Treadingonplaymobil
    Week 22: Day 7

    In the midst of trying to hit maximum achievement levels this weekend while DH is away with the DC, so haven't been on here much.

    We are on the brink of needing to tap our savings pots (again), but I'm trying to hold off as long as humanly possible - I didn't realise that DH's camping with the DC this weekend would be so expensive (an organised group camp, so non-negotiable location), and the additional £50 has taken up the month's 'spare' money, so any overspends are going to come out of savings pots. However, we have never made it past about the 10th of the month before without 'borrowing' from one of those savings pots, so every day we are managing right now is trail blazing stuff for us.

    I bought a bag yesterday out of my clothing budget (you might remember that this comes out of my business budget, thanks to the fashion-related nature of my work and needing to look 'good' all of the time) and was reminded how much I love buying something really really beautiful and well made and well thought through. And then remembered how long it will be before I can do this more than just very occasionally and with house things too. Sigh. Sometimes (well, all the time) it feels like such a long boring boring boring boring path to being debt free. I am reminded again of my 'my lightbulb isn't really on but I'm doing it anyway' post from a few weeks back. I'm not finding one single microsecond of this process exciting or satisfying, but I'm doing it.

    Already done most of the things on my to do list for today, so won't bother sharing them. New ones coming tomorrow.
    £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
    • emmie26
    • By emmie26 15th Jul 17, 11:01 PM
    • 482 Posts
    • 1,775 Thanks
    emmie26
    I wish I could say something really motivating and uplifting but I really can't, because for the most part I feel exactly the same and I've been doing this for less time than you. Reading other people's diaries it seems everyone is feeling a bit bleugh at the moment, I wonder if it's the time of year. I find it the most expensive time over the summer and it does seem that bit harder to stay on the debt busting wagon. Hope you get your mojo back and you lightbulb ramps it up to 100w.

    Total Debt: £24,359.79 £22,182
    debt reduced by 9%
    Debt free date: May 2019
    • Treadingonplaymobil
    • By Treadingonplaymobil 16th Jul 17, 7:04 AM
    • 924 Posts
    • 7,826 Thanks
    Treadingonplaymobil
    Week 23: Day 1

    New week! I do enjoy starting a new MSE week (mine starts on a Sunday because that's when my LBM was), feels like there's more potential and new plans. I do like making plans (carrying them out, not so much ).

    Have continued to achieve stuff at manic levels while DH is away, but now trying to cram as much as I can into my last few child-free hours.

    Pleased to see repayments are inching towards the £3k level - when the barclaycard minimum payment goes out next week (just over £300) we will be well over £3k. Still a fairly pathetic percentage paid off (it will be over 5% though, finally), but it's all debt that I don't have to ever look at again I suppose. I have to confess a degree of green eyed monster when I see people who have proportionally similarly huge debt (£25k plus for one person, rather than £50k plus for two people, if that makes sense) and their DFD is only a couple of years away. I really really really hope we can drag our DFD forward once DC3 is in preschool in September.

    to do today
    1. make butterbean soup for dinner.
    2. feed sourdough.
    3. declutter and tidy the DCs' room.
    4. go for a walk.
    5. social media for work.
    6. hand washing.
    7. order piping bags for making biscuits for clients.
    8. do a few hours work.
    9. plan work for next week.
    10. menu plan and my supermarket to check budget.
    11. ironing.
    12. give the rest of the house a quick tidy.

    to do this week
    1. survive MIL visiting.
    2. continue with cleaning the house thoroughly one room at a time.
    3. charity shop run with decluttered stuff that is currently (ironically) cluttering up the hallway.
    4. plan out the first couple of weeks of activities for the summer holidays.

    Weekly round up
    Last week's debt total £55,821.62
    This week's debt total £55,773.59
    Total paid off last week £48.03
    Grand total paid off £2,834.54

    Aims for July
    1. Pay some extra off the MBNA card - I'd like this card gone asap. Well, a whopping £15 paid on top of the minimum payment so far, hoping to make another payment before end of month.
    2. Pay for camping holiday commitments out of self employed income rather than adding to debt. So far so good, but there is one more camping trip to cover in August.
    3. Stick to the budget even more closely than in June!
    £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
    • Kantankrus Mare
    • By Kantankrus Mare 16th Jul 17, 7:27 AM
    • 4,779 Posts
    • 10,882 Thanks
    Kantankrus Mare
    Well done on reaching the £3,000 debt repayment point.!! That really is fantastic!!

    Im slightly concerned about one of your items on to do list though?

    Hand washing? Do tell.....

    Oh and Im up so early as I did a two and a half yoga workshop at gym yesterday which wiped me out for 9 o clock last night so awoke early ......aching I might add.
    Ordered a mat off amazon yesterday so will hopefully be able to add to my yoga workouts by doing a bit at home. I am challenging myself to do the sideways splits by christmas lololol.....which will be quite an accomplishment aged 50!! Well Ill be 51 by then. Hmmmmm not sure its going to happen.
    Last edited by Kantankrus Mare; 16-07-2017 at 7:31 AM.
    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 £137.50
    Walk 2000 miles in 2017....1361.45 miles
    • Kantankrus Mare
    • By Kantankrus Mare 16th Jul 17, 7:33 AM
    • 4,779 Posts
    • 10,882 Thanks
    Kantankrus Mare
    Doh..............its just occurred to me.......you mean washing clothes by hand.. I had visions of you stood for an hour just washing your hands. Silly me.
    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 £137.50
    Walk 2000 miles in 2017....1361.45 miles
    • Suffolk lass
    • By Suffolk lass 16th Jul 17, 8:27 AM
    • 1,470 Posts
    • 16,850 Thanks
    Suffolk lass
    Doh..............its just occurred to me.......you mean washing clothes by hand.. I had visions of you stood for an hour just washing your hands. Silly me.
    Originally posted by Kantankrus Mare
    Yes, me too. I was wondering if a previously undeclared OCD condition had developed.
    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
    • warby68
    • By warby68 16th Jul 17, 8:31 AM
    • 818 Posts
    • 8,817 Thanks
    warby68
    Although its not much fun, your lightbulb seems to be growing brighter and brighter this last week or two ToPM

    Given that you have a very long history of getting most of your kicks from buying (and I think the process of shopping for) 'nice things' and were also quite entrenched in a lifestyle a bit different from the one you can (currently) afford, it IS going to be hard for you. Important therefore to build in enough treats and opportunities to shop so you don't explode and go off the rails.

    I think you have a tough few months coming - Summer hols (camping trip 1 already more expensive than you thought so be prepared for more ) and then Christmas starts to loom. Perhaps this could be the month where you really see what you can do with your food budget and get it to tight but realistic rather than aspirational total fail (if you'll forgive me) - this did look like the one thing where you had some potential to save a bit more but where £350 was too much of a stretch.

    I really see your way forward as getting budget ( and the spending as they don't yet match up !) fully under control rather than too much debt busting for the time until you get a step change in your income.

    I also wonder whether you could reconsider your honestly level with the family member who has lent you money and keeps offering to do so. They obviously want you to have certain things and I wonder what they would do for you if they truly knew your position. I get that this is a very personal matter and family dynamics are complicated but you wouldn't be the first to fall back on some family help. I can't imagine it feels comfortable 'faking it' with them either. Obviously no need to expand on here - just something to keep thinking about.

    For now, if you can keep to your work fashion allocation for feeding your 'treat' habit that would be good I think.

    Hope you've had a productive weekend and that OH has not bust the budget too greatly
    • warby68
    • By warby68 16th Jul 17, 8:31 AM
    • 818 Posts
    • 8,817 Thanks
    warby68
    Apologies for essay above (feel free to use it for insomnia if you prefer)
    • enthusiasticsaver
    • By enthusiasticsaver 16th Jul 17, 8:44 PM
    • 4,227 Posts
    • 7,609 Thanks
    enthusiasticsaver
    I think you have to look at this year as getting to grips with a new way of living within your means. Paying off over £3k in around 6 months is definitely a good step forward though and you are not reaching for credit cards now or adding to the debt as you were previously.

    It is important to realise that it will get better as the debt reduces and the monthly payments on debt eventually decrease or drop off altogether so there is light at the end of a very long tunnel. Hopefully once your youngest is at school then your earnings will increase which will help.
    Countdown to early retirement on 31.12.17 3.5 months to go.
    • Treadingonplaymobil
    • By Treadingonplaymobil 16th Jul 17, 9:01 PM
    • 924 Posts
    • 7,826 Thanks
    Treadingonplaymobil
    Well my hands are now very clean . You crazies. My cashmere needed washing by hand. With rubber gloves on, as it happens, as I had no hand wash stuff left so used a minuscule portion of washing machine stuff.

    Ended up getting quite a lot done today, although my lovely pristine house has been somewhat ruined by four noisy smelly campers arriving home, complete with all the gear, which now needs putting away. Sigh.

    Thank you for the comments abut the debt payment. I need to cling onto the fact that the worst case scenario is currently that we just keep on plugging away at the current rate and it will be gone in under eight years (and we will get a pay rise of SEVEN HUNDRED POUNDS A MONTH), but fingers crossed we can improve on that DFD and get that £700 pay rise a little sooner.

    to do today
    1. make butterbean soup for dinner. Done. Used up some old carrots too, so frightfully frugal, and loads of leftovers for another dinner and a couple of lunches.
    2. feed sourdough. Done.
    3. declutter and tidy the DCs' room. Done. So nice when it's clean, until the children come home and exist in it for 27 seconds.
    4. go for a walk. Didn't manage this, but did lots of rushing up and down stairs tidying. Practically counts.
    5. social media for work. Not done.
    6. hand washing. Done
    7. order piping bags for making biscuits for clients. Done.
    8. do a few hours work. Done, surprisingly.
    9. plan work for next week. Done. Busy week ahead, for a huge change.
    10. menu plan and my supermarket to check budget. Menu plan done, need to do MySupermarket in the morning.
    11. ironing. Not done.
    12. give the rest of the house a quick tidy. Done.

    to do this week
    1. survive MIL visiting.
    2. continue with cleaning the house thoroughly one room at a time.
    3. charity shop run with decluttered stuff that is currently (ironically) cluttering up the hallway.
    4. plan out the first couple of weeks of activities for the summer holidays.

    Aims for July
    1. Pay some extra off the MBNA card - I'd like this card gone asap. Well, a whopping £15 paid on top of the minimum payment so far, hoping to make another payment before end of month.
    2. Pay for camping holiday commitments out of self employed income rather than adding to debt. So far so good, but there is one more camping trip to cover in August.
    3. Stick to the budget even more closely than in June!
    £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
    • Chrystal
    • By Chrystal 16th Jul 17, 9:54 PM
    • 72 Posts
    • 373 Thanks
    Chrystal
    Well my hands are now very clean . You crazies. My cashmere needed washing by hand. With rubber gloves on, as it happens, as I had no hand wash stuff left so used a minuscule portion of washing machine stuff.
    Originally posted by Treadingonplaymobil
    Don't know if you're aware, but the best thing to use for washing cashmere is Shampoo - Cashmere is actually hair.

    I've followed your diary from the start, although I haven't commented before, and just want to say I think you're doing a great job. Things will improve swiftly once youngest starts nursery. X
    • armchairexpert
    • By armchairexpert 17th Jul 17, 2:29 AM
    • 603 Posts
    • 3,830 Thanks
    armchairexpert
    They say it takes a couple of months to make a new habit stick, and debt busting isn't just a single habit, it's a bunch. When you look at it like that, it might help to see how many changes you've made. Like in my case, for the first couple of months it felt like I was just cutting back everywhere and sacrificing everything for no reward. But some of those cut backs - like going for a walk when I have half an hour to kill before ballet pick up instead of buying myself a coffee at the local cafe - are now habits and they've become 'just what I do' rather than sacrifices. I automatically bake bread now. That sort of thing. All small things, but as each habit becomes entrenched, it should sort of psychologically disappear from the huge burdensome list of Things You Do To Budget.

    It's why it takes so long to turn things around, but once you're facing in the right direction - i.e., your habits have changed enough that your baseline is breaking even without feeling the punch - every bonus payment, unexpected gift or payrise becomes a bit of rocket fuel to power you on.
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 aiming for May 2028
    14 August 2017 - Refinanced: $220,000
    September 2017 - $218,597.77
    • Treadingonplaymobil
    • By Treadingonplaymobil 17th Jul 17, 7:14 AM
    • 924 Posts
    • 7,826 Thanks
    Treadingonplaymobil
    Week 23: Day 2


    Thanks for the shampoo tip Chrystal! I've heard it before but had forgotten it.

    Armchair you are definitely right about hassles becoming habits - so many things that seemed an enormous performance initially have become easier over time. Although some things have just stayed drudgey. Hopefully they will become automatic eventually too!

    All the usual end of term shenanigans here this week - sports days, school picnics etc, and I'm trying to squeeze in the usual work in between. Yay me. Counting down to the summer holidays, but also aware I haven't got as much work done as I want to, so the first few days will be a bit hectic!

    Have DC1 and 2's sports days today, and a school picnic for which I have precisely zero food, having not been food shopping, so will be dashing out this morning to grab something before doing the proper food shop this afternoon.

    to do today
    1. make sourdough.
    2. unpack and put away camping gear.
    3. shop for picnic bits.
    4. laundry
    5. ironing
    6. mysupermarket to check food budget
    7. food shopping

    to do this week
    1. survive MIL visiting.
    2. continue with cleaning the house thoroughly one room at a time.
    3. charity shop run with decluttered stuff that is currently (ironically) cluttering up the hallway.
    4. plan out the first couple of weeks of activities for the summer holidays.

    Aims for July
    1. Pay some extra off the MBNA card - I'd like this card gone asap. Well, a whopping £15 paid on top of the minimum payment so far, hoping to make another payment before end of month.
    2. Pay for camping holiday commitments out of self employed income rather than adding to debt. So far so good, but there is one more camping trip to cover in August.
    3. Stick to the budget even more closely than in June!
    £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
    • Silver Queen
    • By Silver Queen 17th Jul 17, 10:06 AM
    • 142 Posts
    • 715 Thanks
    Silver Queen
    TOPM, I have been feeling the DFW drudgery too lately. I think it's the time of year. I just wanted to pop in to cheer you on because GIRL, you are a MACHINE. I am impressed by you on a daily basis, I don't understand how you get so much done!
    Debt Totals 01/07/17:
    £350 Natwest Credit Card / Now £0 £15,500 Loan from Parents / Currently £12,500 £2,000 Overdraft Now £1,000
    • Cherryfudge
    • By Cherryfudge 17th Jul 17, 11:21 AM
    • 676 Posts
    • 2,083 Thanks
    Cherryfudge
    Week 21: Day 7
    ... I'm also thinking of further splitting some of those budget pots that I keep tapping (Christmas, car maintenance, holidays etc) so that they are for more definite things (e.g. Christmas divided by person, a category for food, a category for extra activities etc) so I can see very clearly what I'm doing to my budget pots if I snafffle money from them. Most of my budgeting seems to be about counter-acting my amazing ability to persuade myself that whatever I want to spend on right now is the most crucial thing ever and I can manage the fall out later. Slightly embarrassing, but I'd rather accept the way I am and plan for it than pretend I am suddenly going to get a responsible head on and go 'oh yes, better not spend any money.'
    Originally posted by Treadingonplaymobil
    Just back from a week away to a mountain of posts, 63 of them on your thread! I'm going to resist the temptation to comment on all and sundry but just wanted to say this (above) is such a good idea. 'Know thyself'... if you can outwit yourself and are really determined to keep your eye on the long-term goal not the short term 'needs' and 'rewards', I think you are much more likely to succeed.
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