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    • emmie26
    • By emmie26 21st May 17, 9:15 PM
    • 422Posts
    • 1,349Thanks
    Oops I did it again, I played with my cards!
    • #1
    • 21st May 17, 9:15 PM
    Oops I did it again, I played with my cards! 21st May 17 at 9:15 PM
    Well I’m back…Back in debt and back being a Debt-Free Wannabe!!

    I am gutted but need to take some decisive action because at the moment every month we seem to have more going out than is coming in and that is a recipe for financial disaster.

    I have been here before. 7 years ago (when I was 26 – hence the name) I grabbed the bull by the horns and knuckled down and cleared my debt. Fast forward 7 years and we are in a slightly different position than the last time. Last time we had built up loads of debt and had literally nothing to show for it. This time the debt was planned.

    18 months ago, we had an extension on our home. We went from a typical 1930’s semi with 2 bedrooms and a box room to a large semi with 4 double rooms and a box room, this made good financial sense because we could not find a 4-bedroomed house that we could afford and we liked our location and neighbours.
    To finance the extension, we added £40,000 to our mortgage without increasing the term. We used around £20,000 of savings and for the final finishing touches such as bathrooms and appliances we borrowed £8000 on 0% credit cards. I had read about stoozing and felt that this would save us money on the mortgage interest rates but I did not anticipate that it would stretch us quite as much as it has.

    I have just finished reading through the debt-free diary that I completed in 2011 and it has inspired me to jump back into the frugal way of living. I have done it before and I can do it again.

    The only difference is that I have got used to having savings in the bank and having a lot of disposable income (we were managing to save around £1000 a month in the run up to the extension). I have not had to watch the pennies for so long but I did quite enjoy it last time and hopefully I will get back into it this time.

    I will post a SOA in a separate post, feel free to berate me about my spending and the amount of debt we are in. If anyone can see anywhere we can save please shout up.

    Total Debt: £24,359.79 £23,124
    debt reduced by 5%
    Debt free date: May 2019
Page 9
    • Hiddenidenity
    • By Hiddenidenity 16th Jul 17, 11:25 AM
    • 3,734 Posts
    • 14,848 Thanks
    I find weekly so much easier, it doesn't feel so long until the budget is topped up again

    DFW £718.71/£7348.71
    Rent Arrears £331.28/£3381.28

    June 17 PA £121.25 + £70 Cash + £50 Amazon
    July 17 PA £216.50 + £25 Cash + £40 Amazon
    • mummytogirls
    • By mummytogirls 16th Jul 17, 3:42 PM
    • 5,211 Posts
    • 15,272 Thanks
    Hope you guys are feeling a bit brighter now Emmie

    I did have to laugh at you trying to squeeze a week away in Wales before you 2 weeks away... If you come up with some solution re buying things to make yourself happy then please do share! xx
    Mummytogirls x

    £23164.32 - 12/12/10
    £7586.76 - 31/05/17 - 67.25% paid off
    • Chandelier.
    • By Chandelier. 16th Jul 17, 4:26 PM
    • 457 Posts
    • 1,200 Thanks
    Hope both you and your OH are feeling a bit better now.

    As previous poster said, at least you have used money in pots rather then using cards or other options. And it's nice to see your debt go down whilst still continuing to do this
    Check out my Diary
    • emmie26
    • By emmie26 16th Jul 17, 8:44 PM
    • 422 Posts
    • 1,349 Thanks
    Thanks HI - I'm thinking of trying the weekly budgets in a few areas, for example my spending money for the month, I seem to just fritter it on bits of crap I may give myself a smaller budget but divide it weekly to see if I can make it last, it will be a good challenge!

    M2G - I am a nightmare - I think I am having some sort of internal battle at the moment, I've been online clothes shopping, motor home shopping and of course holiday shopping. I never get to the actual purchase point but what a bloody waste of time

    Chandelier - you are right thanks, the pots are for budgeted items but because I put it in the savings account I'm psychologically thinking I'm spending my savings rather than using my budget. I'll have to get my head around that a bit more.

    Total Debt: £24,359.79 £23,124
    debt reduced by 5%
    Debt free date: May 2019
    • emmie26
    • By emmie26 17th Jul 17, 6:07 PM
    • 422 Posts
    • 1,349 Thanks
    Well pretty productive afternoon today. I have finally got round to making a list of everything I need for our holiday. My DD could get away with having absolutely nothing as I think I may have been a bit crazy in the past and she has loads of clothes. She has asked for a new costume because she has used it all year round so I think this is all I'm going to get for her. She also only needs skirts and blouses for school in September.
    My DS needs a load of shorts for holiday. I just brought him a couple of pairs but he left them at the school residential grrrr! I have been onto sports direct and think I can get him knitted out for £20. For school he needs trousers (specific/expensive pair) only. I am only going to replace the other bits as and when he needs it through the year.
    They both need new school shoes.
    I'm going to get lilo/rubber rings and take them with us as this will be cheaper, also a beach towel, we have 3 but have lost the 4th.
    I'm pleasantly surprised because I thought that we would need more (and would normally have just done a big next order without thinking) I think I should be able to get all the clothes and school stuff with the £70 left in the clothes budget. Maybe shoes will have to come out of next months clothes budget.
    By Christmas the clothes budget should have built up to £200 if I don't need to buy anything else which means I could use it to add to their pressies, my DD loves clothes and my DS loves trainers
    As for myself I haven't got round to that yet, I should have £70 in my budget by the end of the month, I hate clothes shopping though so will only go if I must. That is one area I definitely do not overspend!

    Total Debt: £24,359.79 £23,124
    debt reduced by 5%
    Debt free date: May 2019
    • emmie26
    • By emmie26 18th Jul 17, 9:16 PM
    • 422 Posts
    • 1,349 Thanks
    Well another productive if not a little costly afternoon.

    I have booked and paid for the taxis to and from the airport which was £86, online order from sports direct for £35 although will get a £5 voucher to spend in store. Also brought lilos and rubber rings for holiday from ebay, they are always loads cheaper here than when we are on holiday.

    I still need to get the school uniforms sorted and order the Euros that we need although we are going all inclusive so it shouldn't cost us too much although the 2nd week we are there we are meeting up with relatives who have a villa out there and we do want to show the children some of the culture of the island so will spend a little although hoping for around £250 maximum.

    Enjoyed another really sunny day here its been fab, I finished work early and decided to do a bit at home instead, as it is so much nicer to sit in the sun writing reports than to sit in my dull and gloomy air conditioned office. However tomorrow I do need to spend most of the day in the office boo!!

    Tomorrow we are trialing giving the children soup and bread for dinner, I'm hoping it goes down well as this is our way of trying to not only cut our meat intake but also to cut our spending, one night a week we intend on making different soup batches that will do for dinner for us all and then lunch the following day for me and DH. Tomorrow is Leek and Potato. The only issue is that my mum is over for tea tomorrow so I'm going to have to ask her to bring her own bread over as she is coeliac. We do end up feeding lots of people at our house, tonight it was step mum over for tea, tomorrow will be mum and then no doubt there will be other peoples children later in the week.

    On an unrelated note I have been invited out twice this weekend, Friday the girls form work are going for a curry, it is really close to home and its somewhere you can take your own drink so hopefully won't cost me too much, on Saturday some old school friends have invited me out for cocktails and dinner, I am going to try and keep cost down by saying I am driving because I don't want to not go, as I haven't seen them in ages, but I also don't want to go over budget as this is the last weekend before pay day so I was hoping to make an overpayment on one of the debts to make sure I get a good debt reduction again.

    Right off to prep the soup and then another early night I hope. I had some crazy dreams last night and didn't sleep great.

    Total Debt: £24,359.79 £23,124
    debt reduced by 5%
    Debt free date: May 2019
    • emmie26
    • By emmie26 21st Jul 17, 6:34 AM
    • 422 Posts
    • 1,349 Thanks
    Happy Friday!!!

    Other than holiday expenses we are having a relatively cheap week. The cupboards are bare as it is nearly payday. The soup was a hit with one child but not with the other, next week I'm going to try tomato soup, maybe leek and potato was a step too far. Last night we had frittata for one child and pasta for the other and both went down well. I just need to incorporate a couple of cheap days a week and then hopefully the shopping budget will last us.

    The car insurance renewal has come through for one of the cars and I am really loving the budget because I already have it in the savings account I have come to terms with spending it now. I think realistically the individual pots aren't filling up to reach the right amount, but if I just think we are saving £610 a month for these sorts of things and as long as we keep to the budgets we should be fine. My DH is very impressed that I aren't asking him for extra money when bills come through because it's already saved and he is really on board with the money saving now (I think it's because he has no money in his account).
    I am looking forward to doing my sums in the next few days to see how much I have brought the debt down and how much money we have for next month to get what we need/want.
    Main thing over the next two days is that I try not to overspend on my 2 meals out.

    Total Debt: £24,359.79 £23,124
    debt reduced by 5%
    Debt free date: May 2019
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