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  • FIRST POST
    • XSpender
    • By XSpender 4th May 17, 11:12 AM
    • 2,857Posts
    • 29,527Thanks
    XSpender
    Spend Nowt, Buy Nowt, Owe Nowt
    • #1
    • 4th May 17, 11:12 AM
    Spend Nowt, Buy Nowt, Owe Nowt 4th May 17 at 11:12 AM
    How do I start what feels like yet another diary?

    After being on the MFW board I have come back to the DFW board to shift the debt we have run up in the last 12 months.

    A quick back story….DH and I are classic impulsive over spenders who went pop back in late 2008 and managed to climb out of the pit of debt we were in by me losing my job and a big redundancy pay out in early 2010. We avoided debt until 12 months ago when we found our dream house about 4 months before we had planned to start looking which we could afford but were short on the deposit. If we had only ended up borrowing the bit we needed to top up the deposit we would be have been debt free by now.

    We have run up debt on buying the house, having some work done in the house and some furniture and soft furnishings and impulsive spending on holidays, meals out and the odd high ticket item. We thought we were past making these kinds of stupid decisions and are both worried and angry with ourselves at the level of debt we are in once again.

    The one thing we are agreed on is that we will live on fresh air to keep this house and we need to sort our finances out to give us the security that this could never happen. One day I will get to be a MFW again!

    To make matters worse 6 months after we moved DH has had some issues at work and has taken a job (same company) at a different location which has resulted in a reduction in the bonus he is paid monthly effectively reducing his monthly take home pay and his travel costs have gone up significantly. It hasn’t done much to reduce his stress levels either!

    Worrying about money and our financial security has started to get to me and I don’t want to feel like that again, I thought I had left that behind in 2010. It makes me worry about losing my job and I then start to doubt my ability to do my job. I also worry it will impact on our ability to re-mortgage at a good rate in 12 months’ time.

    I manage the finances but DH has (finally) got on board and has been writing his own plan about how we can stop spending and stop buying so we can owe nowt. Our good friends are also pulling in the purse strings as they have a family holiday to pay for so we have agreed to entertain each other at home rather than go out for meals with the kids which we did at least twice a month.

    Current Debts

    Bank of Mum and Dad - £4336.66 (17 payments left)
    Bank Loan - £12,114.51 (49 payments left)
    Bank CC - £9019.51 (1% payment to come off for May) – all at 0%
    DH CC - £5500 approx. – all at 0% until August
    My CC – £5782.31 – mostly 0% but some spending at standard rate
    BNPL – £400 – due 21st December 2017
    Owed to DS – £1296.79 – 0%
    Balance of trip to New York - £1098 due October 2017

    TOTAL £39,547.78

    Our plan is to drastically cut our spending and cancel the trip to New York for a start. There is not much we can do about our bills until June/July when they will all be up for renewal and I will hit the comparison sites. It is our spending on food and booze and stuff that needs to be reigned in hence the title of this diary.

    If we can stop adding to the debt by paying the minimum payments each month as well as clearing the BNPL we will knock £6000 off the balance by the end of this year. My goal is to be under £30,000 owed by the end of the year and then have cleared all CCs by June 2018 which is a massive challenge. We both get performance related bonuses, DH quarterly and me twice a year but none of these are guaranteed.

    Wish us luck and control over our spending urges.
    Action Plan Part 1 - Clear First 3 Balances
    Target Debt Lloyds (Me) Part 1 £666.22/£510.80
    Target Debt Virgin (Me) Part 1 £1176.49/£652
    Target Debt Virgin (Me) Part 2 £1038/£1038

    Big black hole of debt - £53,515.15 @ 16.12.17 £53,997.55 @ 31.01.18
Page 21
    • try harder
    • By try harder 2nd Feb 18, 8:14 AM
    • 666 Posts
    • 2,464 Thanks
    try harder
    Great targets for February and lots of fun things too.

    I am the same with the cafes at the NT i cannot resist the cakes
    • redofromstart
    • By redofromstart 2nd Feb 18, 9:28 PM
    • 1,122 Posts
    • 6,828 Thanks
    redofromstart
    Well done on the Cornwall tent decision, I think far more enjoyable to look forward to that than worrying about the cost of the other.

    I came over to say thank you - your enterprise with working with what you have to sort the bedroom made me think about just what I could do with what we already have instead of being depressed about the mess and the clutter and my lack of funds to sort it. 4 big tubs of white paint stashed in the garage may see us having a very minimalist decor (complete with designer muddy paw prints) but that's better than my current hate about every room.
    • XSpender
    • By XSpender 2nd Feb 18, 9:31 PM
    • 2,857 Posts
    • 29,527 Thanks
    XSpender
    Great targets for February and lots of fun things too.

    I am the same with the cafes at the NT i cannot resist the cakes
    Originally posted by try harder
    It's the fact I can get gluten free scones that tempt me every time

    We made some progress on the jobs for Feb list but have to admit to buying the cheapest Karcher we could find and a lot more basic model than the one that has gone kaput. We also bought a tin of spray paint to tart up the blemished cover for the bathroom extractor fan; a £10 investment against the price of a new extractor fan. Only problem is we will have to fish the cove rout of the bin!

    3 Frugal Things for Today

    1) Bought a tin of spray paint instead of a having to buy a new extractor fan later
    2) Ate freezer food instead of nipping to the local Italians for a happy hour 3 courses for £4.95
    3) Found an almost full tin of leftover kitchen paint that is enough to do the down stairs loo and utility room
    4) Found window film in B&Q for a third of the price of the one I had seen on line

    Not much else to report, put the old bedding on in the new guest room and used one of the seat pads in the wicker chair, added a bunch of tulips to an old white jug and it looks lovely.

    My Dad is expected mid morning so we will be up early to finish the rest of the housework and I want to make a fruit salad for lunch/Sunday breakfast.
    Action Plan Part 1 - Clear First 3 Balances
    Target Debt Lloyds (Me) Part 1 £666.22/£510.80
    Target Debt Virgin (Me) Part 1 £1176.49/£652
    Target Debt Virgin (Me) Part 2 £1038/£1038

    Big black hole of debt - £53,515.15 @ 16.12.17 £53,997.55 @ 31.01.18
    • XSpender
    • By XSpender 2nd Feb 18, 9:48 PM
    • 2,857 Posts
    • 29,527 Thanks
    XSpender
    Well done on the Cornwall tent decision, I think far more enjoyable to look forward to that than worrying about the cost of the other.

    I came over to say thank you - your enterprise with working with what you have to sort the bedroom made me think about just what I could do with what we already have instead of being depressed about the mess and the clutter and my lack of funds to sort it. 4 big tubs of white paint stashed in the garage may see us having a very minimalist decor (complete with designer muddy paw prints) but that's better than my current hate about every room.
    Originally posted by redofromstart
    It's amazing what a lick of paint can do to make you look at a room differently. DH picked up a tin of gloss this evening and in 20 minutes the living room looked fresh again and he had only painted some skirting and the frame of the archway.

    We have moved some of our pictures around and moved a rug downstairs (that we have had for over 10 years) and it feels so much nicer.
    Action Plan Part 1 - Clear First 3 Balances
    Target Debt Lloyds (Me) Part 1 £666.22/£510.80
    Target Debt Virgin (Me) Part 1 £1176.49/£652
    Target Debt Virgin (Me) Part 2 £1038/£1038

    Big black hole of debt - £53,515.15 @ 16.12.17 £53,997.55 @ 31.01.18
    • XSpender
    • By XSpender 6th Feb 18, 9:34 AM
    • 2,857 Posts
    • 29,527 Thanks
    XSpender
    I've not posted for a few days with my Dad's visit and recovering from all the work we did to get the place ready.

    It's snowing again.

    We had a lovely time with my Dad and Stepmum at the weekend and Dad told DH that even though we still had work to do our house was beautiful and the view was stunning.

    DH has had a long weekend off and has spent too much in B&Q

    So far we have paid £675.74 off the debt (net of interest) with 2 credit card payments still to come out. It looks like hitting £1000 and finding the £150 for camping are going to be a struggle

    DH took DS swimming yesterday and was massively impressed with his ability and technique that we are going to keep him in lessons for the time being. He will need to change to another swim school and it will have to be on a Saturday. DS is happy to continue now he knows that continuing lessons doesn't mean he has to compete in races.

    Three Frugal Things for Yesterday

    1) DMIL bought me a jumper in the sale
    2) DH and I have agreed to do a 6 week eat everything in the house challenge starting now. I may start a new thread on the OS board to keep track
    3) Signed up to a 1 week food diary with shop n scan which will earn me £10
    4) DH has applied some draught excluder tape we have had for years to the hall door and it has worked a treat.

    Today's to do list
    1) List utility room freezer contents
    2) Pick up the rest of DS antibiotics prescription
    3) Use up fridge contents for breakfast and dinner
    4) Have a first attempt at a new GF bread recipe
    5) Last load of washing in dryer
    6) Wash delicates and dry
    7) Complete 2 pieces of work work
    8) Don't forget to pick DS up from school at 5.15pm!
    Action Plan Part 1 - Clear First 3 Balances
    Target Debt Lloyds (Me) Part 1 £666.22/£510.80
    Target Debt Virgin (Me) Part 1 £1176.49/£652
    Target Debt Virgin (Me) Part 2 £1038/£1038

    Big black hole of debt - £53,515.15 @ 16.12.17 £53,997.55 @ 31.01.18
    • Suffolk lass
    • By Suffolk lass 6th Feb 18, 9:55 AM
    • 1,744 Posts
    • 19,276 Thanks
    Suffolk lass
    Oh yes, please do start a thread - I have just this minute posted my intention to do a freezer audit and use up all those "bits" and only then, plan around the YS meat and fish, over on the February Grocery Challenge. I've got one freezer with just fruit from our garden in it, and yet I bought a box of frozen berries from the supermarket on Friday. What a nonsense!

    It is the same as paying them to store their stock!
    MFiT T4 #2 update 51.75% after Q8 £5,203 behind where I should be
    Save £12k in 2018 #53 - after Jan £634.93/£10,000
    OS Grocery Challenge 2018 spent £238.47/£3,500 including stores so far
    My DFD is here
    • WannabeFree
    • By WannabeFree 6th Feb 18, 11:49 AM
    • 1,097 Posts
    • 8,996 Thanks
    WannabeFree
    Glad the visit went well

    Have a lovely day

    x
    “Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.”
    • redofromstart
    • By redofromstart 6th Feb 18, 3:57 PM
    • 1,122 Posts
    • 6,828 Thanks
    redofromstart
    Your challenge sounds like a good idea, ideas for recipes and things to do with stuff. I love those type of threads although I am always too ashamed to post the contents of my cupboards.

    When really were in the pits of famine I used to run a diary on mortgagefreeinthree which was about my long term use up of stuff, and the only top up spend allowed was the £20 board contributed by SS. It was fun to do because of the input of others.
    Last edited by redofromstart; 06-02-2018 at 4:00 PM.
    • XSpender
    • By XSpender 6th Feb 18, 9:03 PM
    • 2,857 Posts
    • 29,527 Thanks
    XSpender
    Oh yes, please do start a thread - I have just this minute posted my intention to do a freezer audit and use up all those "bits" and only then, plan around the YS meat and fish, over on the February Grocery Challenge. I've got one freezer with just fruit from our garden in it, and yet I bought a box of frozen berries from the supermarket on Friday. What a nonsense!

    It is the same as paying them to store their stock!
    Originally posted by Suffolk lass
    I have started a thread called 'Spring Cleaning the Freezers' over on OS. Any hints and tips gratefully received.


    Glad the visit went well

    Have a lovely day

    x
    Originally posted by WannabeFree
    Thanks Wannabe. I lost you for a while when your diary was deleted so must pop over and catch up x

    Your challenge sounds like a good idea, ideas for recipes and things to do with stuff. I love those type of threads although I am always too ashamed to post the contents of my cupboards.

    When really were in the pits of famine I used to run a diary on mortgagefreeinthree which was about my long term use up of stuff, and the only top up spend allowed was the £20 board contributed by SS. It was fun to do because of the input of others.
    Originally posted by redofromstart
    I used to read that blog all the time I am looking forward to others seeing things I've missed and adding in their suggestions.
    Action Plan Part 1 - Clear First 3 Balances
    Target Debt Lloyds (Me) Part 1 £666.22/£510.80
    Target Debt Virgin (Me) Part 1 £1176.49/£652
    Target Debt Virgin (Me) Part 2 £1038/£1038

    Big black hole of debt - £53,515.15 @ 16.12.17 £53,997.55 @ 31.01.18
    • XSpender
    • By XSpender 6th Feb 18, 9:09 PM
    • 2,857 Posts
    • 29,527 Thanks
    XSpender
    Today's to do list
    1) List utility room freezer contents DONE
    2) Pick up the rest of DS antibiotics prescription NOT DONE
    3) Use up fridge contents for breakfast and dinner DONE
    4) Have a first attempt at a new GF bread recipe NOT DONE
    5) Last load of washing in dryer DONE
    6) Wash delicates and dry DONE, still drying
    7) Complete 2 pieces of work work NOT DONE
    8) Don't forget to pick DS up from school at 5.15pm! DONE
    Originally posted by XSpender
    Spent too long sorting out my new challenge so didn't get my work finished

    Three Frugal Things for Today

    1) Washing the delicates has saved me a tenner in dry cleaning and removed a mark in a silk shirt the cleaners said they wouldn't be able to get out
    2) No spend day
    3) Set up my challenge and have had lots of great support so far which is very motivating
    Action Plan Part 1 - Clear First 3 Balances
    Target Debt Lloyds (Me) Part 1 £666.22/£510.80
    Target Debt Virgin (Me) Part 1 £1176.49/£652
    Target Debt Virgin (Me) Part 2 £1038/£1038

    Big black hole of debt - £53,515.15 @ 16.12.17 £53,997.55 @ 31.01.18
    • redofromstart
    • By redofromstart 6th Feb 18, 9:20 PM
    • 1,122 Posts
    • 6,828 Thanks
    redofromstart
    I've popped over, but my mum reads OS so I am incognito which may be confusing
    • Treadingonplaymobil
    • By Treadingonplaymobil 7th Feb 18, 9:51 AM
    • 1,287 Posts
    • 12,586 Thanks
    Treadingonplaymobil
    Sounds like you're making good positive progress at the minute. I blame mortgage free in three for some of my spending woes! I used to go on there and go so depressed about what seemed to be necessary to get out of debt that I'd just go shopping
    £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 4th Jan 2018: £35,536.09/July 2026

    Mortgage = £193,995
    • try harder
    • By try harder 7th Feb 18, 10:28 AM
    • 666 Posts
    • 2,464 Thanks
    try harder
    £675.74 is an amazing amount off of the debt you are doing so well.

    Loving the new thread you have got a lot more patience than me thats for sure
    • WannabeFree
    • By WannabeFree 7th Feb 18, 11:35 AM
    • 1,097 Posts
    • 8,996 Thanks
    WannabeFree
    You're doing fab!

    Have a lovely day

    x
    “Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.”
    • XSpender
    • By XSpender 7th Feb 18, 8:47 PM
    • 2,857 Posts
    • 29,527 Thanks
    XSpender
    Thanks for all the encouragement, I am feeling much more positive at the moment and that I might actually make some headway with the big black hole.

    Did have a wibble wobble about possibly going to see my Dad in August instead of Cornwall but the campsite we would have wanted to use is fully booked so it will probably be a definite for next year instead.

    I did my first spend of my 52 day challenge today and got the whole budget out in cash to put in a separate purse. I just need to remember it now when I next go to the shop! I am not planning on buying any more food until next weekend as we are away so much next week.

    I was hoping to visit my Mum after my work appointment tomorrow which is in her nearest town but she is in bed with the horrible flu everyone has been coming down with

    3 Frugal Things for Today
    1) Checked last week's Asda receipt and have a voucher for £2.88, just need DH to sort the printer out so I can print it off
    2) Fished the old extractor fan cover out of the bin bag in the wheelie bin so it can be spray painted
    3) Stuck to my list in the supermarket, picked up a YS GF loaf and compared prices on a spice I wanted to buy, choosing the most cost effective option
    Action Plan Part 1 - Clear First 3 Balances
    Target Debt Lloyds (Me) Part 1 £666.22/£510.80
    Target Debt Virgin (Me) Part 1 £1176.49/£652
    Target Debt Virgin (Me) Part 2 £1038/£1038

    Big black hole of debt - £53,515.15 @ 16.12.17 £53,997.55 @ 31.01.18
    • redofromstart
    • By redofromstart 7th Feb 18, 8:56 PM
    • 1,122 Posts
    • 6,828 Thanks
    redofromstart
    Good work on sticking to the list, I make one but never actually look at it which is daft.

    I know quite a few people swear by watering down the semi skimmed but I have never tried it, it does make sense though. I need to have a look at my freezer tomorrow, I tend to have very little variety but lots of the same thing, like the 24 tins of beans.
    • XSpender
    • By XSpender 7th Feb 18, 9:12 PM
    • 2,857 Posts
    • 29,527 Thanks
    XSpender
    Good work on sticking to the list, I make one but never actually look at it which is daft.

    I know quite a few people swear by watering down the semi skimmed but I have never tried it, it does make sense though. I need to have a look at my freezer tomorrow, I tend to have very little variety but lots of the same thing, like the 24 tins of beans.
    Originally posted by redofromstart
    You can never have enough beans
    Action Plan Part 1 - Clear First 3 Balances
    Target Debt Lloyds (Me) Part 1 £666.22/£510.80
    Target Debt Virgin (Me) Part 1 £1176.49/£652
    Target Debt Virgin (Me) Part 2 £1038/£1038

    Big black hole of debt - £53,515.15 @ 16.12.17 £53,997.55 @ 31.01.18
    • redofromstart
    • By redofromstart 8th Feb 18, 10:02 AM
    • 1,122 Posts
    • 6,828 Thanks
    redofromstart
    You can never have enough beans
    Originally posted by XSpender
    My excuse is that most of them were effectively free, more points back on them than they cost to buy. OH has them at the weekends so they will get used over the next few months.

    Sometimes these things backfire, I stocked up when my hair dye of preference was in the £shop rather than at the usual £6 wait for it on offer but a few months later decided to take the plunge and have highlights as they do a better job of hiding the grey roots. I have about ten lots of dye to drop off at the refuge collection point
    • XSpender
    • By XSpender 8th Feb 18, 7:57 PM
    • 2,857 Posts
    • 29,527 Thanks
    XSpender
    Really early start today and im flagging Feels like it's about 9.30pm. Once DS is settled in bed I will be having a cup of tea and reading my book before I hit the sack.

    Three Frugal Things Today

    1) Thanks to a lovely poster on my other thread I picked up 2 hairdyes for £1.59/each and paid for them with advantage points so got 'em for nowt
    2) Bought next weeks sandwich meat with part of my lunch allowance so £3.00 of meat for free
    3) All meals from stores or provided by work
    Action Plan Part 1 - Clear First 3 Balances
    Target Debt Lloyds (Me) Part 1 £666.22/£510.80
    Target Debt Virgin (Me) Part 1 £1176.49/£652
    Target Debt Virgin (Me) Part 2 £1038/£1038

    Big black hole of debt - £53,515.15 @ 16.12.17 £53,997.55 @ 31.01.18
    • XSpender
    • By XSpender 9th Feb 18, 9:01 PM
    • 2,857 Posts
    • 29,527 Thanks
    XSpender
    So looking forward to a quiet weekend, well quieter than usual. The new furniture is coming Monday lunchtime so we need to clear our bedroom and dismantle our bed.

    DH needs to fix the dishwasher again. His last repair lasted a few weeks and as we cant get a replacement part it will have to be glued again.

    DS will have rugby training on Sunday and I want to get some batch cooking done to keep up with my challenge.

    Very proud of DS today who has won an award for his year for a special week of work they have been doing. He was so chuffed to have tea in the headmaster's office

    This is the first weekend in gawd knows when that I won't have done a weekly food shop. I did crumble and buy DH a £2 pizza for tea as I just couldn't be bothered to cook and some ys clementines but apart from milk I do not need to buy any food.

    DH has promised DS his first KFC this weekend as he has done so well in his swimming and now he has won his award but I cant eat it so will have my SW veggie burger as planned

    Three Frugal Things for Today
    1) £9.50 received in Mr T vouchers and saved for Christmas
    2) No food shop this week as we are living out of the freezers (almost)
    3) Completed my food diary to earn survey points
    Action Plan Part 1 - Clear First 3 Balances
    Target Debt Lloyds (Me) Part 1 £666.22/£510.80
    Target Debt Virgin (Me) Part 1 £1176.49/£652
    Target Debt Virgin (Me) Part 2 £1038/£1038

    Big black hole of debt - £53,515.15 @ 16.12.17 £53,997.55 @ 31.01.18
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