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  • FIRST POST
    • XSpender
    • By XSpender 4th May 17, 11:12 AM
    • 2,685Posts
    • 27,556Thanks
    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 9
    • kirtsypoos
    • By kirtsypoos 7th Sep 17, 11:31 AM
    • 3,045 Posts
    • 13,511 Thanks
    kirtsypoos
    Well done to MrX! Have fun redoing the budget with extra monies
    £250/3000 OH BC(91.66% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £250/31010.23 (99.19% paid)
    Mortgage - £161,000.00 (2017 O/P £2221.94) PAYDBX 17 #006 - £17,309.18/14,539.71
    • XSpender
    • By XSpender 9th Sep 17, 7:56 AM
    • 2,685 Posts
    • 27,556 Thanks
    XSpender
    Thank you for all the kind messages for DH. It has finally sunk in and he is excited to start next month.

    Expensive week with £70 at the vets and some dog medicine to pick up on Monday will be an additional spend. Only the second time that the pooch has even had anything done at the vets in his 13 years. 3 birthdays needed cards and stamps but only 1 gift to buy for DFIL, he will probably want money.

    Haircut today and DS and I will get DH a new job card and a new tie as a gift. His current job provides a company tie to be worn with a white shirt and at the new job he can wear anything but doesn't have any other ties.

    £6.10 spent at the F&V stall near DH work yesterday and I will need a few SW friendly bits today. I haven't done well on SW this week, although I haven't gone mad, and if I lose anything I will be pleased.

    New budget has been done but still need to agree everything with DH and work out our plan for the next 12 months, 3 years and 5 years.
    EF £1000 - £0
    • XSpender
    • By XSpender 9th Sep 17, 9:59 PM
    • 2,685 Posts
    • 27,556 Thanks
    XSpender
    I was just about to leave the house this morning when the hairdressers rang to say my hairdresser was sick and my appointment had to be moved to next week. I can hardly see from under my fringe but I am sure I can cope for another week.

    Because we didn't go into the city I didn't get DH gift and card but may wait until nearer the time he starts his new job.

    We bought the film but were too late in to watch it so will cuddle up on the sofa tomorrow after DS has finished rugby training and watch it then.

    I have stuck to SW, and made some gorgeous free soup for lunch, until tonight when I ate a small GF pizza and a glass of wine
    EF £1000 - £0
    • Cherryfudge
    • By Cherryfudge 10th Sep 17, 12:21 AM
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    • 3,596 Thanks
    Cherryfudge
    Well at least it was a small pizza and your stuck to one glass of wine!
    • XSpender
    • By XSpender 25th Sep 17, 12:08 PM
    • 2,685 Posts
    • 27,556 Thanks
    XSpender
    I haven't been focussed on SW over the last 2 weeks and had 2 meals out with work and a meal out for our 10th anniversary so put on a pound last week. I haven't stayed after weigh in for the last 2 weeks and I think this really helps me focus so DH and I are both going to stay tonight and get right back on it.

    I am making the SW pasties for tea tonight.

    Our CC spending has got a bit out of hand as DH has needed a few clothing items for his new job and I had to replace 2 work items that were beyond repair. Gutted as I loved the blue dress that has had to be binned

    I sat one day this week and planned our budget and debt payoff over the next 12 months, allowing for Christmas and a couple of camping trips. We should be able to clear the debt, if we both get full bonuses, within 24 months. Allowing for the odd emergency and spend not accounted for I would be happy with 30 months. We would still be under 50 and should also be able to knock 2 years off our mortgage in that time by securing a lower rate next June and shortening the term by keeping the payment the same.

    Until January things are going to be tough in the XSpender household as we cover Christmas and get back on an even keel. It has been tough this year as DH salary has effectively dropped £300-400 month and he has received no bonuses. Although his new job will pay an extra £750 ish a month plus quarterly bonuses he wont get a full wage in October due to starting 1 week in and I feel it will be 6 months before we feel the benefit of his increased income.

    We have agreed that this year we will be having a quiet Christmas and not catering for anyone. We may go to a dinner on Christmas Eve with our good friends and their children but I am cutting back where I can on food, gifts and decorations.

    The cost of the fuel we used on our 2 week holiday comes off my salary this month so I will be £300 down too I also have an increased childcare bill by £30/month from the end of September.

    I have set our budget for the month for all food and spending but excluding bills and debt repayments at £1150. This includes food, booze, haircuts, swimming lessons, personal spends (DH has a night out arranged), miscellaneous, family fun (we have a ghost train booked for Halloween and we all need a costume although I am limiting mine to a pair of cats ears and some face paint ), prescriptions and a pre-booked garden treatment. Anything else is just going to have to wait and I have not allowed any extra for half term as apart from 2 days (if I get the time off agreed) DS will be at DPIL.

    There is also an amount in there set aside for some new work shirts and ties for DH. His old job required a certain colour shirt and a company tie and he doesn't have any other coloured shirts or any other ties but the one he got for his interview. The shirts are on special offer and I have a 20% off sparks voucher which means that I can buy 3 shirts and 2 ties for half price and come in just under the £85 I had allowed.

    I am going to make more of an effort to check in on here in October as I avoid posting when I know we are struggling a bit and posting helps keep me focussed and accountable.
    EF £1000 - £0
    • apple muncher
    • By apple muncher 25th Sep 17, 5:41 PM
    • 6,521 Posts
    • 47,705 Thanks
    apple muncher
    Really hoping dh gets on well with the new job x
    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 25th Sep 17, 9:49 PM
    • 2,685 Posts
    • 27,556 Thanks
    XSpender
    Thank you apple.

    DH was asked if he would like to leave today and he jumped at the chance! They didn't ask him until 5.45pm and he left at 5.50pm He will get paid up until the 4th and can still use his company car but will start his new job 1st of October.

    This is great for him and great for our finances as we will get a full month of his new wage at the end of October.

    I am already writing a list of the jobs he can do this week as I am working from home all but 1 day and he distracts me terribly.

    I lost 1.5lbs at SW (it must have been yesterdays run ) and DH put on a lb in 2 weeks. We are really going for it this week and aim to lose over half a stone between us this week.

    £10 spent on Chinese food. We haven't had one in weeks and it was soooo nice. Also spent £6 on some beers for DH to celebrate the end of an era and some fat free greek yogurt.
    EF £1000 - £0
    • XSpender
    • By XSpender 26th Sep 17, 8:53 PM
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    XSpender
    No money spent today so far but will be ordering DH work shirts tonight as he is now starting his new job a week earlier than originally planned. M&S have 3 pairs of boys PJs in the sale for £17 and DS is short on them so will order those too. I wish I could buy the bottoms only as he never wears the tops.

    Made a chicken dish tonight with Quark, first time I've used it, and it was delicious. DH and I still feel a bit hungry though and we had carrots, cabbage and new potatoes with it so shouldn't really. I will have one of the muller light coffee yogs in a bit.

    We both took the dog out at lunchtime for 40 minutes so can tick the exercise box for today

    Arranged for DS to spend a day at his new school later in the week.

    Not much else to report, looooong work day tomorrow and jogging along until payday on Friday.
    EF £1000 - £0
    • Cherryfudge
    • By Cherryfudge 26th Sep 17, 11:31 PM
    • 892 Posts
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    Cherryfudge
    jogging along until payday on Friday.
    Originally posted by XSpender
    That should wear off a few more calories.

    I love the story of the quick exit from work! Great that he gets the whole of October, and time to do a few jobs at home first. I know it will be a quiet Christmas until the new wage kicks in properly, but having a job that suits you, and the decreased worry over money are both the sort of things that you couldn't buy as presents but which make a huge difference to the quality of life. You will still find nice things to do and you can make plans for an easier time come the New Year.
    • XSpender
    • By XSpender 28th Sep 17, 1:00 PM
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    XSpender
    That should wear off a few more calories.
    Originally posted by Cherryfudge
    I hope so

    I didn't order DH work shirts and will now need to pop into M&S to pick them up as we have run out of time for a collect at store this week. This will be better as DH will be able to choose ties to go with them. I will still get the 20% and the 3 for 2 offers too

    Stuck to SW during my 20 hour day yesterday apart from about 12 extra syns but I did have 7 less the day before and I was that knackered I am not going to worry about it.

    This week we spent £10 on a Chinese and £55 on paint and materials for the wishy-washy coat that goes on fresh plaster for the hall, landing and stairs which DH and DFIL are painting today. They have nipped out now for proper emulsion for the ceilings so that will be to add on the spends as well. We will also need a vat of gloss for the 10 door frames, 1 window frame, foot high skirting boards and the picture rail and emulsion for the walls. I hate glossing Thank god we are replacing the doors or there would be 10 of them to paint as well!!

    I swapped DH swimming lessons over in July as the old teacher was a nightmare. Although the classes are over twice the price of the old ones he has passed one grade already in 6 classes The teacher is off for 2 weeks which means I don't need to pay for the next lot of lessons until mid November instead of the last day of October so I have put that £70 towards the cost of the paint and will cover the rest from the £1150 budget I have set for October as this includes the £70 for swimming lessons. I hope that makes sense!

    I am working from home today and am sat in my running gear as I am hoping to get out for a 30 min run at some point.

    Pay day tomorrow In DH new job he will get paid 2-3 days earlier and get his payslip the day before which will be useful for budgeting as his will vary and mine is always the same. I will still stick to a new month beginning on the 1st rather than the 28th to keep YNAB right.

    I have 3 full days away with work next week so I will put together a to do list for the weekend later. We shouldn't need much food as there are SW ready meals in the freezer for DH and I will either be catered for or can use my evening meal allowance for 2 nights. I don't have to eat in the hotel and usually use it to buy something to eat that night and a few non perishables to help the grocery budget As long as its food work don't care. A colleague bought Chinese food once at a takeaway but couldn't get a VAT receipt to claim it back so paid for it himself and used his dinner allowance to buy 4 big tins of Christmas chocolates for home and they didn't bat an eyelid!!
    Last edited by XSpender; 28-09-2017 at 1:06 PM.
    EF £1000 - £0
    • Cherryfudge
    • By Cherryfudge 28th Sep 17, 4:48 PM
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    Cherryfudge
    I am working from home today and am sat in my running gear as I am hoping to get out for a 30 min run at some point.
    Originally posted by XSpender
    Did you get your run?

    You seem scarily industrious, and possibly worn out after that 20 hour day! Hope you can get some rest as well as a run.
    • XSpender
    • By XSpender 28th Sep 17, 9:43 PM
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    XSpender
    Did you get your run?

    You seem scarily industrious, and possibly worn out after that 20 hour day! Hope you can get some rest as well as a run.
    Originally posted by Cherryfudge
    No I didn't Cherryfudge. I had a last minute piece of work to complete and ended up ferrying my DFIL back and forward. I will put the gear on again in the morning and try again
    EF £1000 - £0
    • Cherryfudge
    • By Cherryfudge 28th Sep 17, 9:53 PM
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    Cherryfudge
    I will put the gear on again in the morning and try again
    Originally posted by XSpender
    Never mind - here's to good running conditions tomorrow (I'm hoping to go for a run myself but it will depend on my getting up in good time).
    • XSpender
    • By XSpender 28th Sep 17, 10:37 PM
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    XSpender
    Jobs for this weekend:

    1) Wash out doggie crate ready for use next week
    2) Pack for next week's work trip
    3) Meal plan, shopping list, food shop
    4) Shop and scan and submit
    5) Buy and post get well card and retirement card, need 1 stamp
    6) Make cabbage and potato soup
    7) Use up all fresh veg and fruit leaving some fruit for DH lunches next week
    8) Buy DH shirts and ties for next week

    Remember to do next week:

    1) Pick up DS uniform from new school (Thursday)

    Meal Plan

    Friday L - Omelette and salad or soup and potato skins if salad is past it D- Happy hour pizza treat for DS after trial day at new school (3 courses for £4.50 )
    Saturday L - Soup/sandwiches D - Gammon, egg, beans and SW chips
    Sunday L - Jacket potato with cheese (DS) beans (Mr & Mrs XS) D-Sausage casserole with mash, sausages for DS, frozen veg
    Monday & Tuesday - RM for DH, I'm away with work
    Wednesday - RM for DH and beans on toast when I finally get home if I can face eat anything at ten o clock at night!
    Thursday - L - Soup D - Chicken stuffed with quark and wrapped in bacon, mini herb roasts and frozen steam veg
    Friday L - Jacket pot and beans D - I'll think of something!

    My shopping list consists of:

    Leeks
    Bananas
    Strawberries
    Cheese triangles
    Ryvita (aldi version)
    Ham
    Reduced fat cheese block
    Pickle
    Beers for DH

    and comes in at well under £25 for the week depending on which beers DH choses

    DH is on a mission to paint all the landing, stairs and hall by the end of the week (except the gloss) so the cost will have to come out of the buffer amount in the account and the £70 swimming money. My budget for October is now £1080.
    Last edited by XSpender; 30-09-2017 at 4:42 PM.
    EF £1000 - £0
    • XSpender
    • By XSpender 29th Sep 17, 11:13 AM
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    • 27,556 Thanks
    XSpender
    It appears that when they asked my DH if he wanted to leave on Monday they didn't intend on paying him the rest of his notice period and his wage today was £400 short The buffer I had for the work in the hall and to see us over until his new wage arrives at the end of October has now been gobbled up. We should be OK if we watch what we are spending but DH new work shirts will have to go on the CC.

    DH is so relieved to be out of the place he does not want to challenge the short payment. The accountant was so jealous and bitter and down right nasty when DH got his new job, it is within the same industry so they know what salary he will be on and that he is moving to a very prestigious firm, it would be very difficult to get the money back.

    DS has gone for his trial day at his new school today and was really nervous but so brave DH and I are very, very proud of him He had told his old class he wasn't going back so they had all said their farewells but he has another week to go. The new headmaster says he can start on Monday if he wants and we are very tempted to do so but will have to make a decision by early afternoon. His uniform will be ready early next week.

    I got some good feedback yesterday on a piece of work from someone who has the people skills of a rock so that was good

    Wont manage a run after all to day as got dressed properly and did my hair to take DS into school and we are out for tea later. Plus it is chucking it down here.
    EF £1000 - £0
    • Cherryfudge
    • By Cherryfudge 29th Sep 17, 12:43 PM
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    Cherryfudge
    Oh no! to the money being short. I know you have managed well so there is a buffer even though it means using the hall fund and putting shirts on the CC, which means it's just a delay in sorting those things, not a real problem, but it's hard on you all. Perhaps you will recoup some of that money in a way because of the work he'll be able to do at home?

    Lots of good wishes to DS for his new school, and well done to you for the positive feedback! I'm not running today either due to waking up very late and (you've guessed it) the rain.
    • XSpender
    • By XSpender 30th Sep 17, 1:13 PM
    • 2,685 Posts
    • 27,556 Thanks
    XSpender
    That is a very good way of looking at it Cherryfudge. It would have cost me a lot more than £400 to pay someone else to paint the hall, landing and stairs.

    We are going to paint the White panel doors and replace the brass door furniture with chrome until we can afford new oak doors. Our cupboard under the stairs has no door on it as it fell apart when we moved in but is an odd size so not sure what to do about that.
    EF £1000 - £0
    • Cherryfudge
    • By Cherryfudge 30th Sep 17, 5:37 PM
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    Cherryfudge
    Our cupboard under the stairs has no door on it as it fell apart when we moved in but is an odd size so not sure what to do about that.
    Originally posted by XSpender
    The only thing that comes to mind is a bead curtain, but I'm sure Pinterest has a few ideas (if you have a few hours to spare).
    • apple muncher
    • By apple muncher 30th Sep 17, 6:28 PM
    • 6,521 Posts
    • 47,705 Thanks
    apple muncher
    It does sound like Mr X's relief at not having to stay for that final week might be worth 'losing' the money. Can't put a price on peace of mind. (And get him doing the painting!!)
    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
    • Hiddenidenity
    • By Hiddenidenity 30th Sep 17, 8:00 PM
    • 5,318 Posts
    • 26,084 Thanks
    Hiddenidenity
    Our local B&Q will cut the doors to size, and sympathy on the 1000 doors on the hall/landing mine is the same. 17 doors I will have to paint them soon too.

    Congratulations on DH new job must be a huge relief knowing things will be okay.

    Hope you've had a lovely weekend x
    DFW £1783.71/£7348.71 Rent Arrears £571.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
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