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  • FIRST POST
    • XSpender
    • By XSpender 4th May 17, 11:12 AM
    • 2,683Posts
    • 27,537Thanks
    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.
    EF £1000 - £0
Page 8
    • XSpender
    • By XSpender 25th Jul 17, 1:43 PM
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    • 27,537 Thanks
    XSpender
    First class at the gym tonight for 3 months

    Found £3 at the weekend, £1 in a trolley and the other £2 lying about so I have put them in the piggy bank.

    Another £70 to find by Monday for 6 weeks swimming lessons for DS. 2 of which he will miss as we are on holiday but I either take the hit or have to go back on the waiting list and do not want to lose the place after having to pull him out of lessons due to the cow of a teacher at the last place.

    DS has been taken to a climbing wall today by DFIL as a surprise so will be buzzing when I speak to him later.

    DH has found a job to apply for which he is perfect for and the salary is about double what he is getting now! I can't begin to imagine what that income would do to our DFD. OK, I can because I worked it out We would clear everything in under 2 years even saving for a holiday and continuing with the refurb. DH has never had a CV or a proper interview so even if he doesn't get it the practice will be great and his CV will be done. He knows he needs to start thinking about a new job as he is wasted where he is and also needs to increase his income at least back up to what it was.

    I still have £55 left in the food budget which is a miracle. I might even come in on budget for just about the first time ever

    I still haven't heard anything from the Scouts which is a little annoying as I am sure DS will love it if I can get him in.

    DH and I cleared the laundry and ironing at the weekend which has tidied about 3 rooms. Just have DS room to tidy, the bathroom to clean and a little dusting to do and we are on top of the housework again (until the weekend ).

    Lunch calls......
    EF £1000 - £0
    • Hiddenidenity
    • By Hiddenidenity 25th Jul 17, 4:46 PM
    • 5,314 Posts
    • 26,055 Thanks
    Hiddenidenity
    All sounding busy but good

    Good luck to DH x
    DFW £1783.71/£7348.71 Rent Arrears £571.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
    • apple muncher
    • By apple muncher 25th Jul 17, 7:50 PM
    • 6,507 Posts
    • 47,640 Thanks
    apple muncher
    When you are finished, please send the dusting fairy this way!

    Good luck to dh re the job.
    NST November #; NSD 3/17; Ex 2/12; craft 1/30 (247); remove 578
    2017 MFW#63 Pay off: £3415/£4050; 2
    017 sell 116

    Mortgage £23,689 (01/14: £78,201; 01/15: £59,629; 01/16: 39,915; 01/17: 27,295) MFWDate Dec 2018
    • Treadingonplaymobil
    • By Treadingonplaymobil 26th Jul 17, 5:28 AM
    • 1,062 Posts
    • 10,067 Thanks
    Treadingonplaymobil
    Good luck to DH with the job application! And well done on sticking to your budget. I've had a better month than any yet, but I still have yet to actually come in under budget!
    £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
    • XSpender
    • By XSpender 31st Jul 17, 4:37 PM
    • 2,683 Posts
    • 27,537 Thanks
    XSpender
    Thanks for the good wishes on DH job application. It will be completed and submitted tonight, a little later than planned but I know the manager is on holiday this week.

    I have ended up going over my food budget by about £50 but I am getting closer to what I am comfortable spending. It is the takeaway and DH spend on lunch at work that has been our overspend and more this month. My actual weekly food shop is at a reasonable level. I have split my spends weekly in July and split out work food, booze and takeaway and it has given me a much better idea about where we over spend. My target is £90/week for everything and last month I was about £110 with £20/week of that on takeaway and lunches at work so it shouldn't be too difficult to get to where I want to be.

    It was my birthday at the weekend and we came under budget on my gifts so the extra has been squirrelled away to go towards a winter coat. I want a particular coat this is not cheap and have put off buying it for 2 years. I am aiming to save my personal spends and Christmas money towards it for this year. If I use all this months personal spends I am at about 18%

    On Saturday I went over to see my friend who has been given the all clear after her cancer op and needs no more treatment. We have been busily planning trips away with the girls/couples for next year. Seeing the change in my friends outlook on life in the 4 weeks from diagnosis to cured really puts things into perspective.

    While I was out DH put up the tent we were planning to take on holiday that our friends gave us several years ago and have never used although we have erected it before. We were shocked by how small the living area was especially since we are going to a place where we got eaten to death by midges last time we were there and have to sit in the tent with the 'net' doors up on an evening. This tent has no 'net' doors.

    We went to the camping shop from some gas, some nikwax restorer stuff and a few other bits and ended up leaving with a new tent! It was in the sale, came with a load of extras (a carpet!!!) and we got another 10% off. We usually have 1 or 2 UK holidays a year, 1 week of which is twice the price of the tent so we will have to make we use it and it will pay for itself in a couple of years. We joined the CCC as it was cheaper to do so and get discount on our week in August so will book a weekend next month and a few days in May next year as a start. I don't think I am brave enough to camp next year at Easter as it is really early and will be freezing at night.

    Luckily we don't have to drive more than half an hour to be in deep countryside or at the coast from where we live so have no excuse not to make the most of it.

    DH is trying to sell the old one on a local selling page.

    Pay day and money shuffle has been done with nearly all bills due out tomorrow. DH wage is a little higher than the last few months due to a new tax code I think. It will be another tight month with our holiday spending money to find and the plasterer to pay for. I have meal planned up until 19th when we return from camping and have a Tesco delivery due on Friday and will also do an Aldi shop that day. I have spent £26 of August's food budget already on 1.5kg of bacon and 4kg chicken.

    DFIL has offered to do some work in the house for us when we are away so I will give him a little list of jobs to do.

    Goals for August

    No increase in debt from balance on 31st July
    Stick to food budget of £90/week
    Do some surveys to earn vouchers for Christmas
    Go to gym at least once a week 0/4
    Finish all prep in hall, landing and stairs
    Plaster hall, landing and stairs
    Clear conservatory gutters
    Lose 4lb (hoping all the hill walking will give me a boost )
    Order DS uniform jumpers and buy rest of uniform he needs
    EF £1000 - £0
    • apple muncher
    • By apple muncher 31st Jul 17, 7:13 PM
    • 6,507 Posts
    • 47,640 Thanks
    apple muncher
    Belated Happy Birthday!

    Such good news about your friend. What a whirlwind few weeks.

    Happy camping - right posh tent you've got there!
    NST November #; NSD 3/17; Ex 2/12; craft 1/30 (247); remove 578
    2017 MFW#63 Pay off: £3415/£4050; 2
    017 sell 116

    Mortgage £23,689 (01/14: £78,201; 01/15: £59,629; 01/16: 39,915; 01/17: 27,295) MFWDate Dec 2018
    • XSpender
    • By XSpender 1st Aug 17, 10:21 AM
    • 2,683 Posts
    • 27,537 Thanks
    XSpender
    Thanks apple

    Ordered DS uniform jumpers and a PE kit via a school mum whose mum works at the uniform company as the school have taken down their website and I cant remember who we ordered it from last time and it is not showing on my bank statements from last year! DMIL has bought DS trousers from Aldi and trousers from TK Max but although they are 9-10 (he is 7) they wont meet in the middle He is chunky rather than fat (same shape as his Dad) and needs pleated fronts rather than flat front. He will never have the physique for skinny jeans It's a shame the trousers don't fit as all 3 pairs came to less than £8. Mind one fall over or tree climbing session and the Aldi ones would have been ripped as they are wafer thin.

    I don't buy him logo polo shirts for school as he can ruin one on first wearing. The aldi ones were 2 for £1.50 I think and are fine. I bought 4 and he has a couple of M&S ones left from last school year. His shoes (DMs) should be OK for a while with a good polish but he will require trainers for school and trainers for home at the end of summer.

    DS is changing Rugby Club at the start of the season and will require new kit and probably new rugby boots too! Add to that the Beavers uniform if they ever get back to me about a place and it is going to be an expensive September

    No money spent yesterday and no money planned to be spent today. I will withdraw DH and my personal spends tomorrow and hand his over to him. This way mine doesn't get eaten up by our overspending and DH doesn't draw out £20 to pay for a £15 PT session and I never see the fiver again

    DH Wage was higher due to the tax code changing as I thought, lets hope this is the correct amount going forward as it was nearly £200 more than I had budgeted and will definitely make it a little easier to stick to our budget for the rest of the year if he doesn't change jobs.
    EF £1000 - £0
    • XSpender
    • By XSpender 2nd Aug 17, 9:05 AM
    • 2,683 Posts
    • 27,537 Thanks
    XSpender
    Planning another NSD today but will withdraw our personal spends in cash as DH will need some for PT tonight. I am going to go along to the gym with DH but just do some cardio.

    Finally finished DH CV and sent off last night. He had a wobble about applying yesterday but I said he doesn't need to decide what to do until he is offered the job. My DH has never had to apply formally for a job and has never had a CV before, even in a senior role he lacks confidence in his own skills and abilities. Listing everything he has achieved and all the awards he has won on his CV last night has given him a boost and more confidence in applying for this job which is what he does now but double the money! If nothing comes of this job then he may start applying for other roles elsewhere.

    If he gets an interview he will need a suit as we have had to throw out all his current ones as he has worn out all the pants. This will be kept in the wardrobe for interviews and important meetings and not for every day wear. He will need a tie too as he wears a branded tie for work and doesn't own another one except his wedding one which is purple!

    Extra day WFH today as appointment has cancelled which gives me time to prep for a very early start tomorrow.

    The weather forecast for our holiday is looking dreadful We never have bad weather every day on our UK holidays but it looks like we might this time.
    EF £1000 - £0
    • XSpender
    • By XSpender 2nd Aug 17, 7:03 PM
    • 2,683 Posts
    • 27,537 Thanks
    XSpender
    I did end up spending today but all was budgeted for.

    I bought some jeans and a t shirt top from my personal spends. I have put on a good stone in the last 18 months and my 2 decent pairs of jeans in an 8 and a 9 wont go anywhere near me. These are a 12 My last pair of blue jeans went in the bin last week as they developed a hole where the material had worn really thin and DS kindly told me you could see me knickers!

    Other spends were 99p on a washing up bowl and £5 on a disposable BBQ both for camping. Wishful thinking for the BBQ I think

    The bowl was from B&M and I saw a few items in there on my list that were cheaper than aldi so got them and crossed them off Friday's shopping list. I also got 3 boxes of GF cereal, also on Fridays list, reduced in sains.

    Personal spends have been drawn out in cash for us both and I have squirrelled the rest of mine away in a draw so I can't spend it and can save it towards my winter coat.

    I am off to the gym shortly for a spot of cardio while DH as his weights PT. I cant be bothered really but will feel good when I get back
    EF £1000 - £0
    • XSpender
    • By XSpender 4th Aug 17, 9:14 PM
    • 2,683 Posts
    • 27,537 Thanks
    XSpender
    I am officially on my jollies for 2 weeks and am sharing a birthday bottle of prosecco with DH

    Ended today with some great feedback from the client via account manager and director so earned myself some brownie points there.

    DH has got an interview and it is luckily on the one free day we have next week before we go camping! Please send all your positive vibes and cross everything. They would be lucky to have him but he does lack confidence in his own abilities.

    Big food shop and delivery today as I have stocked up and got all the food in for camping.

    Pack lunch for DS and me tomorrow as we are going out for the day with my DM and DSD. DH is going to meet some friends in the late afternoon and then to a concert later. His spends will be put of his 'pocket' money.

    Sunday will be some housework, packing and a cooked lunch before we head to near LEGOLAND and have a hotel room picnic for dinner and prepare for DH interview. DS is beside himself and cant wait to get there. The weather forecast is looking a little better.
    EF £1000 - £0
    • apple muncher
    • By apple muncher 5th Aug 17, 7:33 AM
    • 6,507 Posts
    • 47,640 Thanks
    apple muncher
    Hope thenext 2 weeks are truly jolly, and full of fun. All is crossed for dh.
    NST November #; NSD 3/17; Ex 2/12; craft 1/30 (247); remove 578
    2017 MFW#63 Pay off: £3415/£4050; 2
    017 sell 116

    Mortgage £23,689 (01/14: £78,201; 01/15: £59,629; 01/16: 39,915; 01/17: 27,295) MFWDate Dec 2018
    • Toni'sfriend
    • By Toni'sfriend 5th Aug 17, 7:57 AM
    • 931 Posts
    • 8,659 Thanks
    Toni'sfriend
    Have a lovely time and good luck to DH.
    • Hiddenidenity
    • By Hiddenidenity 5th Aug 17, 10:22 AM
    • 5,314 Posts
    • 26,055 Thanks
    Hiddenidenity
    Have a lovely time

    Good luck to DH too x
    DFW £1783.71/£7348.71 Rent Arrears £571.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
    • XSpender
    • By XSpender 6th Sep 17, 9:26 PM
    • 2,683 Posts
    • 27,537 Thanks
    XSpender
    Hello I'm back.

    Everything has been up in the air as we waited to find out if DH had got the job and he found out today that he has

    In the meantime we have struggled to make ends meet as his wage has dropped a lot in the last few months and the debt has gone up a bit in August following our holiday, the purchase of an interview suit and having some planned work done in the house .

    We have joined SW and lost over half a stone between us in 2 weeks

    Erm, what else? DH and I have agreed to sit down and do a financial plan as his income will increase massively and we want to make the most of it and not fall victim to lifestyle creep.

    I am so proud of him I could burst, he is still in a daze and can't quite believe he's done it
    EF £1000 - £0
    • muddywhitechicken
    • By muddywhitechicken 6th Sep 17, 10:21 PM
    • 3,783 Posts
    • 34,548 Thanks
    muddywhitechicken
    Well done Mr XS - brilliant news
    Mortgage at highest (April 2008): ~£195,000
    Outstanding balance: ~£41,500
    Current total overpayments: ~£116,750
    • Cherryfudge
    • By Cherryfudge 6th Sep 17, 10:37 PM
    • 887 Posts
    • 3,573 Thanks
    Cherryfudge
    Great news! Congratulations to both of you on the weight loss and your DH on the job!
    • Treadingonplaymobil
    • By Treadingonplaymobil 7th Sep 17, 5:06 AM
    • 1,062 Posts
    • 10,067 Thanks
    Treadingonplaymobil
    That's great news! What a relief for you both. I hope things move onwards and upwards very rapidly.
    £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
    • apple muncher
    • By apple muncher 7th Sep 17, 6:34 AM
    • 6,507 Posts
    • 47,640 Thanks
    apple muncher
    Congratulations to dh! What a good dilemma to have - what to do with extra money!
    NST November #; NSD 3/17; Ex 2/12; craft 1/30 (247); remove 578
    2017 MFW#63 Pay off: £3415/£4050; 2
    017 sell 116

    Mortgage £23,689 (01/14: £78,201; 01/15: £59,629; 01/16: 39,915; 01/17: 27,295) MFWDate Dec 2018
    • redofromstart
    • By redofromstart 7th Sep 17, 8:11 AM
    • 510 Posts
    • 2,702 Thanks
    redofromstart
    That's brilliant news!
    • Toni'sfriend
    • By Toni'sfriend 7th Sep 17, 9:38 AM
    • 931 Posts
    • 8,659 Thanks
    Toni'sfriend
    That is such good news. Well done to both of you.
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