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

Welcome to the MSE Forums

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

Search
  • FIRST POST
    • XSpender
    • By XSpender 4th May 17, 11:12 AM
    • 2,518Posts
    • 26,220Thanks
    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.
    PAYDBX 2017 #99 from 4/5 - £1975.53/£10,000 19.75%
    Total Owed £39,547.78 May '17 Total owed June '17 £37,590.34 Savings goal £500 - £305
    DFD - May 2021 goal Feb 2020
Page 6
    • XSpender
    • By XSpender 15th Jun 17, 4:13 PM
    • 2,518 Posts
    • 26,220 Thanks
    XSpender
    Spent yesterday on fathers day cards x 3, stamps and 2 bags of my favourite crisps from the post office as I was hungry after a morning meeting.

    After what I thought was a good breakfast, the crisps led to a day of poor eating. I should have just opened my mouth and poured the sugar bowl in I felt so tired I had to go and have a lie down and then took the dog out for half an hour to get some fresh air to wake me up!

    I have realised that my breakfast porridge was too small so I got too hungry. I used to make that size and put protein powder in it which would fill me up but it is too small on its own. I doubled it today and it satisfied me until 11am.

    I made flaxseed 'bread' for the first time today at lunchtime and it was delicious, definitely a recipe I will make often in the future as it was quick and easy and I have all the ingredients to hand. Today's eating has been grain and refined sugar free so far with a new recipe to try for dinner that is also grain free. I am planning to make a batch of apple muncher'sbanana and PB ice cream at the weekend to head off any evening sweet cravings an have some grain and sugar free cookie recipes to try.

    I checked my interest bearing CC today to see if the payments I have made have come off the interest bearing part of the balance. The statement was produced today, which is good to know, and the payments have come off but with the spending on the garden last month the balance has actually increased on this bit to £1599.06 from £1199.17 although I had the balance of the total card right on YNAB. When I do the BT next month to DH 0% card in July I will need to see if this can be cleared or at least reduced. If not it is where I will continue to focus our overpayments.

    Focussing on the small balances and their rates/promotion expiry dates is much more motivating than looking at the balance of £6k+ on this one card. Paying off the small balances seems more achievable and an overpayment has a bigger impact on reducing the balance. I do keep wanting to pay off the Argoss BNPL but at £50/mnth it is on target to be cleared before the due date so there is no benefit to paying it off. It's just the smallest debt and would mean 1 less to worry about.

    I'm still a bit worried about the contract at work and what it means for my job. I won't know anything more until Tuesday and TBH we will probably be kept in the dark anyway. I don't want to leave my company but I will update my CV to be prepared if something does happen.

    Not much else to report. I do have over £100 in YNAB available to budget and will have CB due in a couple of weeks so I may be able to make another cheeky debt repayment and add a bit to the mini emergency fund before the end of the month.

    There is not enough left in the much reduced food budget for the rest of the month but I am hoping to pinch a bit from the booze budget as DH has not had much beer so far this month and is out on Saturday night so won't need any then. I might still need another £50 or so, will see what I can do to keep spends down.
    Last edited by XSpender; 15-06-2017 at 4:28 PM.
    PAYDBX 2017 #99 from 4/5 - £1975.53/£10,000 19.75%
    Total Owed £39,547.78 May '17 Total owed June '17 £37,590.34 Savings goal £500 - £305
    DFD - May 2021 goal Feb 2020
    • XSpender
    • By XSpender 16th Jun 17, 7:51 AM
    • 2,518 Posts
    • 26,220 Thanks
    XSpender
    Internet banking checked and YNAB updated.

    Things to do today:

    Submit meter readings to new energy company
    Submit same to old energy company just in case
    Email to DS swimming club to cancel lessons
    Finish document for work
    Finish report for work
    Work emails
    Grain free day
    Sugar free day
    Walk the dog (for longer than his usual afternoon jaunt)
    Meal plan and shopping list
    Food shop

    The trip to Aldi may be later tonight as tomorrow DH is cycling in the morning and then out in the early evening and I would rather not drag DS shopping if I can help it! If I get most of my work done this morning I may nip out at lunchtime and take the dog out later.

    I don't know if I mentioned it but we have started to strip the hall/stairs/landing of paper (2 layers of it!) so the place is a mess. This will need to be completed this weekend so we can get DH friend round to quote for plastering over the aertex ceilings next week. I have the money set aside for this as we budget £100/month for work in the house and have added to this from my bonus this month.
    PAYDBX 2017 #99 from 4/5 - £1975.53/£10,000 19.75%
    Total Owed £39,547.78 May '17 Total owed June '17 £37,590.34 Savings goal £500 - £305
    DFD - May 2021 goal Feb 2020
    • XSpender
    • By XSpender 17th Jun 17, 10:08 AM
    • 2,518 Posts
    • 26,220 Thanks
    XSpender
    Hmmm, I didn't get very far yesterday..

    Things to do yesterday:

    Submit meter readings to new energy company
    Submit same to old energy company just in case
    Email to DS swimming club to cancel lessons
    Finish document for work
    Finish report for work
    Work emails
    Grain free day
    Sugar free day
    Walk the dog (for longer than his usual afternoon jaunt)
    Meal plan and shopping list
    Food shop

    DH is not out on his bike this morning which means we may make some headway with stripping the walls. He is currently stripping his PS4 so it may be a while before we start

    DH and DS had bacon sandwiches for breakfast after the bacon I bought for a treat for tomorrow was spotted. I have had a smoothie bowl and a piece of bacon

    I did well on no grain yesterday but failed on no sugar. I need to have some sugar free treats made to grab so will rustle up so lemon and cranberry biscotti and some coconut macaroons this afternoon.

    It is a beautiful day today so we will take the dog out for a good hour as he didn't get a long walk yesterday. He is currently sun bathing in the patches of sun coming through the dining room window.

    Aldi have their camping specials starting tomorrow and as we are planning on taking DS camping for a couple of nights in August we are going to buy some of the items we need i.e. cool box, chairs and cooker. I thought I had missed this promotion but I haven't The money for this will be taken from the extra I had added to the house pot for the work in the hall. There will still be enough in there for the plastering and it will be a while before we need the paint as there is a lot of preparation to do to the woodwork which had layer upon layer of paint on it.

    Today's list is:

    Spend no money - FAIL!!
    Submit meter readings DONE
    Sort out, iron and put away clean laundry
    Get up to date with washing (only a couple of loads) - more than I thought!
    Check what fresh stuff is left in fridge and use it up -
    Make sugar free treats DONE, made lemon and cranberry biscuits
    Grain free day DONE
    Sugar free day FAIL (salad cream, almond magnum, sweetened coconut)
    Long dog walk - too hot for my old boy
    Clean kitchen and conservatory - kitchen done
    Hoover our bedroom
    Change bedding on all beds
    Plant the hostas we bought last week DONE
    Last edited by XSpender; 17-06-2017 at 9:03 PM.
    PAYDBX 2017 #99 from 4/5 - £1975.53/£10,000 19.75%
    Total Owed £39,547.78 May '17 Total owed June '17 £37,590.34 Savings goal £500 - £305
    DFD - May 2021 goal Feb 2020
    • XSpender
    • By XSpender 18th Jun 17, 9:04 AM
    • 2,518 Posts
    • 26,220 Thanks
    XSpender
    I'm a bit tired this morning but it serves me right for staying up and watching TV. DH was out and I always end up staying up later when he is out plus I started watching Falling Skies on Netflix and 2 hours later I was still watching it!! I don't watch a lot of TV but I enjoyed this; it's a cross between walking dead (which I find too scary ) and independence day.

    We did spend yesterday. £15 worth of tools and thermal stuff which fixed DHs playstation and £9.45 in lidl on carrots, a small sack of potatoes and some ice creams.

    I made cranberry and lemon grain free cookies yesterday. They can be double baked into biscotti but I couldn't get the dough to hold together into a log shape so did the single bake cookie option instead which is still yummy. I also made a double batch of flaxseed rolls and froze half. The recipe should have made 12 but I made them a bit bigger and got 9 out of it.

    DS has written DH card and made an envelope for the card he made at school. We haven't done mothers day/fathers day presents this year but DS has made DH a model (I'm not quite sure of what ) as a present.

    Our friends want us to join them in a celebration meal next week. This will cost approximately £50. There is £20 still in the family fun budget and a little unallocated money still to budget which should cover this. I am also going to add another £20 to the EF.

    I am planning to finish yesterday's list and a few extras today:

    Sort out, iron and put away clean laundry (or as much as I can cope with as there is a lot!)
    Get up to date with washing - 2 small loads to do
    Check what fresh stuff is left in fridge and use it up
    Grain free day
    Sugar free day
    Long dog walk when it has cooled down a bit
    Clean kitchen floor
    Clean Conservatory
    Clear and clean breakfast room dresser
    Hoover our bedroom
    Change bedding on all beds
    Wash our duvet (conveniently splits into 2 which just fit in washer)
    Finish mowing all the lawns
    Trim the 2 hedges at the front
    Fill green bin with garden waste
    Finish stripping wallpaper from stairs and landing
    If stripping finished contact plasterer and arrange quote
    Submit receipts to S&S -first time ever!
    Cook the chicken (goes OOD today and was planning a roast but maybe too hot)
    DS homework
    Last edited by XSpender; 18-06-2017 at 9:06 AM.
    PAYDBX 2017 #99 from 4/5 - £1975.53/£10,000 19.75%
    Total Owed £39,547.78 May '17 Total owed June '17 £37,590.34 Savings goal £500 - £305
    DFD - May 2021 goal Feb 2020
    • jelly head
    • By jelly head 18th Jun 17, 10:51 AM
    • 2 Posts
    • 7 Thanks
    jelly head
    Hello XSpender, just thought I would pop in and say that I currently have a debt total close to yourself and you are giving me inspiration to get my down and cleared as soon as possible. The problem I have is that I expect it all cleared straight away and unfortunately that wont be the case for a few years yet (not got a debt free date yet)
    I will be making a diary on here soon so please keep a look out for it and give me some tips on the way.
    Keep up the good work
    • XSpender
    • By XSpender 18th Jun 17, 10:07 PM
    • 2,518 Posts
    • 26,220 Thanks
    XSpender
    Hello XSpender, just thought I would pop in and say that I currently have a debt total close to yourself and you are giving me inspiration to get my down and cleared as soon as possible. The problem I have is that I expect it all cleared straight away and unfortunately that wont be the case for a few years yet (not got a debt free date yet)
    I will be making a diary on here soon so please keep a look out for it and give me some tips on the way.
    Keep up the good work
    Originally posted by jelly head
    Hi jelly head

    I understand where you are coming from with wanting the debt paid off quicker, I paid an extra £200 this month and it hasn't made much difference at all to the big picture but every little bit gets us closer to being debt free.

    I will keep a look out for your diary.


    Impromptu Barbie at friends for a couple of hours this afternoon put a dent in our time in the garden but was lovely and the jobs will get done later.

    To Do List Update

    Sort out, iron and put away clean laundry (or as much as I can cope with as there is a lot!)DMIL has offered to help with this
    Get up to date with washing - 2 half loads left
    Check what fresh stuff is left in fridge and use it up DONE
    Grain free day DONE
    Sugar free day - Really struggling with this
    Long dog walk when it has cooled down a bitDONE at 7pm
    Clean kitchen floor - Swept but not mopped
    Clean Conservatory DONE except steam mop floor
    Clear and clean breakfast room dresser DONE
    Hoover our bedroom NOT DONE
    Change bedding on all beds NOT DONE
    Wash our duvet (conveniently splits into 2 which just fit in washer)DONE
    Finish mowing all the lawns Front done, half of back
    Trim the 2 hedges at the frontDONE
    Fill green bin with garden wasteDONE
    Finish stripping wallpaper from stairs and landingNOT DONE
    If stripping finished contact plasterer and arrange quote NOT DONE
    Submit receipts to S&S -first time ever! NOT DONE
    Cook the chicken (goes OOD today and was planning a roast but maybe too hot) NOT DONE
    DS homework NOT DONE but not due til Friday

    We have been to Aldee today and bought the camping equipment we needed and have bought a sander for the miles of woodwork in this house. I tried sanding the top of the porch today with sandpaper and it just didn't cut it. Too many layers of old flaky paint and too many years of neglect by the previous owners.

    We also spent on a small contribution to our friends BBQ.

    DH and I have been considering getting a cleaner again for a few weeks now. I know I will get some flack for this but I feel it is important to balance quality time with my family against the cost. I have reduced our outgoings by about £700 since April with cutting back on overspending and by reducing/cancelling our bills. The cleaner will be about £100 a month.

    I am fed up of trying to balance the hours I work, frequent nights away or very long travelling days with work with trying to do all the work in the house. DH works long hours too. I spend my weekends trying to catch up with chores and don't fell like I spend enough time with DS at the weekend. DH often works 6 days a week so the day off he does have at a weekend he wants to spend as a family or potter in the again.

    We have a lot of cosmetic work/maintenance that needs doing in the house which is taking longer than it should because if I have a couple of hours I try and do housework first.

    If it means my DFD slips back a few months I can live with it if it means I can stop stressing about trying to be superwoman and do everything.
    Last edited by XSpender; 18-06-2017 at 10:11 PM.
    PAYDBX 2017 #99 from 4/5 - £1975.53/£10,000 19.75%
    Total Owed £39,547.78 May '17 Total owed June '17 £37,590.34 Savings goal £500 - £305
    DFD - May 2021 goal Feb 2020
Welcome to our new Forum!

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

Forum Team Contact us

Live Stats

3,363Posts Today

8,283Users online

Martin's Twitter