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  • FIRST POST
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Feb 17, 9:56 AM
    • 1,014Posts
    • 9,407Thanks
    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 91
    • enthusiasticsaver
    • By enthusiasticsaver 9th Oct 17, 8:26 AM
    • 4,429 Posts
    • 8,237 Thanks
    enthusiasticsaver
    I am looking forward to seeing what mortgage rate your broker can get for you. What rate are you on at the moment? You thought is was 3.14 a few pages back but weren't sure.
    Last edited by enthusiasticsaver; 09-10-2017 at 8:47 AM.
    Countdown to early retirement on 21.12.17 2 months to go.
    • Savertobe
    • By Savertobe 9th Oct 17, 8:45 AM
    • 26 Posts
    • 163 Thanks
    Savertobe
    keep going
    Hi

    I don't think most people want to be critical its just that we have all been in similar positions either in debt or struggle to pay for the basics and have to find ways of managing. We do see sometimes perhaps issues coming down the line for you which might then cause you more financial problems. We want to see you succeed but I think its going to be tough.

    Have loved all the xmas presy ideas and any secrets to making sourdough would be gratefully appreciated this end - I think I am a decent cook but bread defeats me every time.

    Think probably for now supermarket clothes could be the answer and scaling back on present spending - big presents for birthdays smaller things at xmas - if grandparents buy big at xmas you could just do a super stocking as you do and that would be reasonable. However all those little things to make sound great. Have fun as always but keep an eye on the money! We enjoy reading your diary as you write so well so don't stop.

    Fellow but 'aging' hippy
    • Treadingonplaymobil
    • By Treadingonplaymobil 9th Oct 17, 9:35 AM
    • 1,014 Posts
    • 9,407 Thanks
    Treadingonplaymobil
    Answers to various questions:

    Mortgage rate: yes, 3.14%. I avoiding getting my hopes up about any kind of spectacular deal, as our financial situation on paper is very similar to/fractionally worse than (in terms of debt sum) when we originally mortgaged. The property value has gone up, but not a lot (£197k when we bought, maybe £210-215k now). Our original mortgage was 90% LTV though, so if we don't add on the tesco loan we may be able to get a better rate due to lower LTV. We'll see. Hoping for some numbers in the next couple of days.

    Blog: yes, I do, but it's related to my business so for obvious reasons can't link here!

    Sourdough: persevere, especially if you're creating a new starter. Despite what everything online says, it took me a good month or more to start getting a decent rise off my sourdough starter. Tray of water in the bottom of the oven essential for a good crust, or cooking in a roasting tin. Use a sieve or colander lined with a teatowel if you don't have proving baskets (I don't). Current favourite recipe, which I think I've linked here before is this one. Very involved, but the best sourdough I've ever made. I don't do the 'creating a leaven' bit, I just feed up my sourdough starter and use 150g of it at the first stage of the process. This is a perfectly serviceable recipe to start with, although I reduced it to 2/3 of the quantity as I found it was too much for one loaf and not enough for two.
    £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
    • Hiddenidenity
    • By Hiddenidenity 9th Oct 17, 9:37 AM
    • 5,064 Posts
    • 23,174 Thanks
    Hiddenidenity
    I'm ashamed to say I've never made nor tried sourdough bread.

    I might have a try of those burges for smalls though! I think we get in such a routine with our food in this house it gets a bit boring
    DFW £1388.71/£7348.71 Rent Arrears £511.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
    • PurpleFairy26
    • By PurpleFairy26 9th Oct 17, 1:27 PM
    • 1,885 Posts
    • 12,647 Thanks
    PurpleFairy26
    I know you bake TOPM so thought I'd share this with you. I found it a) as I had an excess of natural yogurt but also b) it uses a small amount of oil rather than butter so makes it cheaper than some other cakes to make

    https://anitalianinmykitchen.com/easy-yogurt-cake/

    Due to the cup thing, it's also very easy to make with smalls. I make it in a loaf so it's easier for lunchboxes.

    Could you post the burger recipe please?

    On the other thing, your journey, your rules. Remember people are only commenting on the 10% or whatever of your life you share on here, so often somethings seem out of context. When my eldest was small DH gave up his 2nd job (=less income) but we didn't see each other as a family at all and were like ships passing in the night. I know some wouldn't have done this, but for us the family time was more important than the relatively small amount he was earning from job 2 and didn't put us in financially difficulty, we just cut our cloth differently. As I said you make your own rules in this game.
    Last edited by PurpleFairy26; 09-10-2017 at 1:31 PM.
    • Treadingonplaymobil
    • By Treadingonplaymobil 10th Oct 17, 5:10 AM
    • 1,014 Posts
    • 9,407 Thanks
    Treadingonplaymobil
    Week 35: Day 3

    Well yesterday was a bit of a write off. Huge stressful work drama, exactly the kind of politics I try to avoid by being self employed. Not going to have any short term effects, but it's made me realise that longer term I need my income to be less dependant on the whim of one or two sources. It's made me realise I need to adjust my long term business planning to eventually extricate myself from one tricky business relationship. It was horribly stressful, but I am looking positive and seeing how important it is to (a) have several sources of income (I do, but one has become my 'main' one and the others have slipped to minimal levels) and (b) be as independent as possible in terms of how my money is earned.

    Today is mostly going to be about doing all the things that I was supposed to do yesterday and couldn't because of that work drama!

    Ooh, I did have a charity shop trawl yesterday. Not a great hit rate - only one nice hyacinth bowl and no stocking fillers. Going to give it another go in a different town tomorrow, then will need to order some hyacinth bowls/pots online to ensure I can get them planted in time.

    Did someone ask for burger link? Here you go.

    Need to make quiche before school this morning as have no packed lunch stuff for the DCs. I made the base last night, so just going to throw together a filling. Frozen veg has been a lifesaver since we started budgeting - we are terrible at using up a whole broccoli before it goes off, or leaving half a bag of spinach, and frozen veg means we always have small quantities available for things like a quiche or a meal for one without needing to use up the whole thing. I'm sure I've posted my green quiche recipe before, but it's basically:

    shortcrust pastry quiche base (I make my own, loads of recipes online)
    a couple of small cups full of frozen veg (I use spinach, broccoli and peas, plus I had half a leek in the frridge)
    a couple of small onions
    couple of cloves of garlic
    about 200ml double cream
    a good shaving of parmesan (maybe 25g?)
    2 egg yolks (I make mini meringues with the whites for an after school treat or pudding)
    1 egg
    salt and pepper

    make the quiche base according to instructions and blind bake. Take out the veg to defrost. Fry the onions on a low heat with oil of your choice for a good 10 mins, preferably more like 15. Add the garlic about 5 minutes in. Chop any of the larger frozen veg into smaller pieces - nothing should be larger than around 1" sqare Stir the rest of the ingredients (cream, eggs, parmesan, good dash of seasoning) in a mixing bowl, add the veg and the fried onions, mix well. Pour it all into the quiche base (if there is spare, I freeze it to add next time) and cook on 180 for about half an hour, until the middle is firm but springy.

    I change the veg according to what I have kicking around, sometimes make quiche lorraine.

    To do today
    1. start sourdough (to bake tomorrow morning).
    2. make courgette cake.
    3. make quiche to freeze for lunches.
    4. continue to plan stockings.
    5. spend some time knitting instead of working in the evening.
    6. rejig my week's working plans to allow for yesterday's write off day.

    To do this week
    1. Continue to plan Christmas gifts.
    2. Plant hyacinth bulbs.
    3. Charity shop trawl for stocking fillers and hyacinth planters.
    4. Library ebooks

    To do this month
    1. keep the total spend for the month below £3,500. Currently budgeted at £3,349.
    2. work a sensible number of hours, even if it means slower progress on the work and debt front. September was rubbish. This is going well so far.
    3. make any homemade Christmas gifts.
    £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
    • missymoo81
    • By missymoo81 10th Oct 17, 6:40 AM
    • 5,823 Posts
    • 19,628 Thanks
    missymoo81
    Sorry you had a rubbishy day yesterday. Chin up lovely X
    • Silver Queen
    • By Silver Queen 10th Oct 17, 9:15 AM
    • 153 Posts
    • 824 Thanks
    Silver Queen
    Re: the hyacinth bulbs, could you plant them temporarily in whatever containers you have kicking around and then transfer them into pretty bowls once you've got them? That way you can be sure not to leave it too late for them, plus you can continue to look through charity shops for unique and attractive containers that are hopefully cheaper than ordering them online.
    Debt Totals October 17:
    £350 Natwest Credit Card / Now £0 £15,500 Loan from Parents / Now £12,000 £2,000 Overdraft Now £1,000
    • Cherryfudge
    • By Cherryfudge 10th Oct 17, 10:16 AM
    • 746 Posts
    • 2,563 Thanks
    Cherryfudge
    It does sound like one of those work relationships you could do without. Good for you, realising you can plan your way out of this one.

    Here's to a much better day today - and thank you for the recipes.
    • Treadingonplaymobil
    • By Treadingonplaymobil 10th Oct 17, 10:42 AM
    • 1,014 Posts
    • 9,407 Thanks
    Treadingonplaymobil
    Re: the hyacinth bulbs, could you plant them temporarily in whatever containers you have kicking around and then transfer them into pretty bowls once you've got them? That way you can be sure not to leave it too late for them, plus you can continue to look through charity shops for unique and attractive containers that are hopefully cheaper than ordering them online.
    Originally posted by Silver Queen
    I thought about that, but I am so NOT green fingered, and if I killed them in transfer it would be such a waste. That florists supplies place that someone linked the other day was so cheap that it's not really much more than charity shop bowls anyway.
    £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 10th Oct 17, 10:44 AM
    • 1,014 Posts
    • 9,407 Thanks
    Treadingonplaymobil
    It does sound like one of those work relationships you could do without. Good for you, realising you can plan your way out of this one.

    Here's to a much better day today - and thank you for the recipes.
    Originally posted by Cherryfudge
    It's going to be a really long process to give myself the independence, but I'm pleased in a way that I've had this stress, had the moment of epiphany and seen the vulnerability in my position before it becomes a problem in terms of income. Hopefully I've got plenty of time to figure out how to extricate myself and make my earnings more independent before there is any actual risk to my income.
    £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
    • tjp70
    • By tjp70 10th Oct 17, 4:47 PM
    • 388 Posts
    • 1,978 Thanks
    tjp70
    Hi TOPM.

    I have just finished reading your diary over the last couple of weeks and I have thoroughly enjoyed it. You have such a lovely writing style. I am in awe of how much you get done in a day. It really puts me to shame.

    On the last few pages you have received some harsh posts. I just wanted to remind everyone (and you) that every month you are paying off your debt, I think £700 was the monthly figure you quoted. You also have stated that you are going to pay back every last penny. Does it really matter how long it takes? Even if you only managed to repay £10 in a month, it's still less debt than the previous month. I think you are to be applauded for your acceptance that you are in it for the long haul. It would have been really easy for you to go for a DMP but you are doing it the hard way. And I find that very admirable.

    tjp
    • Treadingonplaymobil
    • By Treadingonplaymobil 10th Oct 17, 8:14 PM
    • 1,014 Posts
    • 9,407 Thanks
    Treadingonplaymobil
    Work drama still occupying headspace today, if not actual work time. Hoping for some more information tomorrow or Thursday which will help me plan a way forwards.

    Quiche was a hit today, which is always pleasing. Made mini meringues with the spare egg whites so will make buttercream to go with those tomorrow as a treat for my friend and her child coming for a playdate after school tomorrow.

    To do today
    1. start sourdough (to bake tomorrow morning). Realised I would have time to bake it tomorrow, so abandoned until Thursday.
    2. make courgette cake. Done. Weird non-rising cake, but it tastes quite nice.
    3. make quiche to freeze for lunches. Done.
    4. continue to plan stockings. Not done.
    5. spend some time knitting instead of working in the evening. Going to do some shortly.
    6. rejig my week's working plans to allow for yesterday's write off day. Done, to an extent. Still not achieving as much as I'd like to.

    To do this week
    1. Continue to plan Christmas gifts.
    2. Plant hyacinth bulbs.
    3. Charity shop trawl for stocking fillers and hyacinth planters.
    4. Library ebooks

    To do this month
    1. keep the total spend for the month below £3,500. Currently budgeted at £3,349.
    2. work a sensible number of hours, even if it means slower progress on the work and debt front. September was rubbish. This is going well so far.
    3. make any homemade Christmas gifts.
    £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 11th Oct 17, 5:16 AM
    • 1,014 Posts
    • 9,407 Thanks
    Treadingonplaymobil
    Week 35: Day 4

    Hmmm, still not really earning anything significant this month. I still have my contract work, which pays enough for me to cover my costs and most of my monthly salary, but my post-summer income has not picked up in the same way as it usually does. I need to focus some energy on my smaller business to try to make up the slack. Traffic is picking up on the website a teeny weeny bit each day (still incredibly low numbers, as expected - I'm viewing it as a three month project to build up the visitor numbers before I can even think of earning extra from it), but one of the work dramas this week has made me realise I need to make some slight tweaks to the focus of it, so there's going to be more work to do there too.

    Being so conscious of my income this year has really shown me what huge fluctuations it has. The reality is that, averaged out, it doesn't earn enough for us to have extra in the good months - those months need to be used to pay for the lean months, of which there are many. Although I have obviously done my book keeping and tax returns every year for a decade, I've never really clocked how incredibly huge the fluctuations are, as I've always been looking at it in one year chunks (and, to be honest, not really averaging out what my tax return income is on a monthly basis and therefore not engaging with the reality at all). I do wish that now I've earned the wisdom of this, I could be rewarded with some good income to put by to cover the next lot of lean months! Sadly it doesn't work like that, but many valuable lessons have been learnt about self employment this year - things that I thought I knew, but actually I wasn't dealing with the reality of the situation.

    Popping to the garden centre today for potting compost for my hyacinths, and meeting a friend in nearby town who I haven't seen for months. I should have cancelled really as Monday's work drama means I am still slightly behind this week, but I've been looking forward to it for ages. It will be a tiny bit spendy (probably a fiver on parking and another fiver on coffee and cake) but I'm taking a packed lunch with me as I'll be out for that part of the day, and I'm going to park in the cheaper car park and walk for a few mins rather than the closer expensive one. My £15 kitty for the month is being used for it though, so at least it's coming out of budgeted money!

    Yesterday's courgette cake was a bit of a disaster - didn't rise, and the icing was runny. It tasted perfectly nice, but definitely wasn't a looker! Luckily DH and the DCs are sufficiently greedy that they didn't care.

    To do today
    1. make buttercream for mini meringues for playdate.
    2. clear ironing (still only a small hill, not yet epic mountain).
    3. email back client enquiry - need to make the most of these enquiries when they come!
    4. keep an eye out for stocking fillers in charity shops in nearby town.
    5. plan 2018 working time.
    6. order hyacinth pots.
    7. chase mortgage broker.

    To do this week
    1. Continue to plan Christmas gifts.
    2. Plant hyacinth bulbs.
    3. Charity shop trawl for stocking fillers and hyacinth planters.
    4. Library ebooks.

    To do this month
    1. keep the total spend for the month below £3,500. Currently budgeted at £3,349.
    2. work a sensible number of hours, even if it means slower progress on the work and debt front. September was rubbish. This is going well so far.
    3. make any homemade Christmas gifts.
    Last edited by Treadingonplaymobil; 11-10-2017 at 9:28 AM.
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 2nd Aug 17/DFD: £55,011.96/1st May 2025
    • stoozie1
    • By stoozie1 11th Oct 17, 6:51 AM
    • 344 Posts
    • 187 Thanks
    stoozie1
    I'm part self employed too, and i wondered if you contribute to a pension?
    • Savertobe
    • By Savertobe 11th Oct 17, 8:04 AM
    • 26 Posts
    • 163 Thanks
    Savertobe
    Sourdough
    Thanks for the sourdough advice I'll have another go sometime. Currently pretty horrified by the expense of xmas and rather hoping our friends don't bother this year. Would not mind if my daughter who has children also wanted to do children only! I'm spending as much as our summer holiday cost which seems out of kilter when we only have one child.
    • Treadingonplaymobil
    • By Treadingonplaymobil 11th Oct 17, 9:31 AM
    • 1,014 Posts
    • 9,407 Thanks
    Treadingonplaymobil
    I'm part self employed too, and i wondered if you contribute to a pension?
    Originally posted by stoozie1
    No, I can barely get my ducks in a row sufficiently to save an emergency fund (although my emergency fund does currently have a WHOPPING £30 in it ), never mind a pension. DH saves for one with work, although not a lot. We'd like to be able to increase his work contribution (since his work match it, so it's a sensible scheme for us to overpay) within 5 years.

    Thanks for the sourdough advice I'll have another go sometime. Currently pretty horrified by the expense of xmas and rather hoping our friends don't bother this year. Would not mind if my daughter who has children also wanted to do children only! I'm spending as much as our summer holiday cost which seems out of kilter when we only have one child.
    Originally posted by Savertobe
    I've found that actually more children haven't added as much to Christmas as I'd expected! (obviously mine are still smallish though). Things like the tree, Christmas meal, adult family members, decorating the house etc all add up too. Christmas is extortionate, but I'm such a sucker for it, I love it.
    £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
    • Cherryfudge
    • By Cherryfudge 11th Oct 17, 11:30 AM
    • 746 Posts
    • 2,563 Thanks
    Cherryfudge
    Well done on conquering the courgettes!

    You now have 11 months to research a more effective recipe before the next courgette glut.
    • Wysiwyg49
    • By Wysiwyg49 11th Oct 17, 7:44 PM
    • 172 Posts
    • 1,466 Thanks
    Wysiwyg49
    Just wanted to echo what some others have said - keep up the positivity (if that is a word). I totally agree with your philosophy of paying down your debt in a way that doesn't make you and your family wear a hair shirt for the next X years...

    My outlook is, spend on important things, which vary from person to person - and scrimp/skip the dross. So I don't buy many clothes or shoes, and don't spend a lot at Christmas, but I do spend on kids activities, family skiing holidays, school trips etc. because they give them life skills and memorable experiences.
    GC Oct £92.34/£450(?) Sept £408.47/£360
    • Honeysucklelou2
    • By Honeysucklelou2 11th Oct 17, 9:02 PM
    • 439 Posts
    • 1,421 Thanks
    Honeysucklelou2
    Re the courgette cake, it freezes really well. I had a glut one year and baked several. They looked like bricks lined up in the freezer but lasted well and tasted good when defrosted.
    paydbx #90 £325/£10,000.
    365 day penny challenge £37.66/£667.95
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017
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