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  • FIRST POST
    • mumof3.12kindebt
    • By mumof3.12kindebt 29th May 17, 10:55 PM
    • 119Posts
    • 265Thanks
    mumof3.12kindebt
    if i make a start . then there has to be an end right ?!
    • #1
    • 29th May 17, 10:55 PM
    if i make a start . then there has to be an end right ?! 29th May 17 at 10:55 PM
    24 years old 3 kids . bipolar. physical disability. second child with additional needs and £15k of debt (£12k + interest if i can get approved for a loan and consolidate)

    i always thought id leave school go to college , travel. go to uni . get married . buy a house . have kids. raise the babies. then one day retire.

    but life had a different plan,

    here i am , 24 , 3 kids too two different dads. living in a 2 bed council flat with my partner 3 kids and a cat.
    i only have to look at my children to realise why ive never given up. at times when my mental health got too much.
    i have big dreams.
    but first i need to get my debt paid off , enjoy making memories with my kids .. then i can look at the next stage of my life ,
    my youngest is 11 weeks old tomorrow.
    that has flown by,

    anyway this is my little diary on loving life and paying off the dreaded debt
Page 2
    • mumof3.12kindebt
    • By mumof3.12kindebt 14th Jul 17, 1:07 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    ive just paid off an extra £600 off the credit card
    • JoJoC
    • By JoJoC 14th Jul 17, 1:13 PM
    • 1,247 Posts
    • 4,033 Thanks
    JoJoC
    Wow! That's great news! Looks like it's all heading in the right direction

    Enjoy the spa when it comes. Everyone needs a break/ some down time.
    CC1: £3804.52 / £3704.32 £100.20 paid | CC2:£5027.53 / £4927.48 £100.05 paid | Loan: £15,000 / £13,932.24 (£1067.76 paid)

    July debt total: £23,832.05 | New debt total: £22,564.04 | Total debt paid: £1,268.01 (5.3%)
    *My debt busting and savings diary*
    • mumof3.12kindebt
    • By mumof3.12kindebt 14th Jul 17, 1:22 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    thankyou jojoc . i dont expect to it all be streight forward sailing but as long as i see it going down and not up thats the most important
    • JoJoC
    • By JoJoC 14th Jul 17, 1:51 PM
    • 1,247 Posts
    • 4,033 Thanks
    JoJoC
    Exactly - good perspective. It won't happen overnight but I think there'll be more satisfaction to know that we're working really hard to pay it off. Hopefully that'll keep us on the straight and narrow when we are debt free!
    CC1: £3804.52 / £3704.32 £100.20 paid | CC2:£5027.53 / £4927.48 £100.05 paid | Loan: £15,000 / £13,932.24 (£1067.76 paid)

    July debt total: £23,832.05 | New debt total: £22,564.04 | Total debt paid: £1,268.01 (5.3%)
    *My debt busting and savings diary*
    • mumof3.12kindebt
    • By mumof3.12kindebt 14th Jul 17, 2:04 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    hopefully.
    i had my first baby young. i was pritty good with my finances at 17 - 21 had my second baby and became ill (bipolar) struggled for years but wore my brave face and kept my battle with my finances a secret. when me and my ex split i racked up massive debt in the space of 6 weeks. then when my third was around 8 weeks i started medication and the last few weeks ive been back to my old self and back in control.
    i made a pledge to myself when i turned 21 that i wanted to get on the property ladder before my 30th birthday and this is still the end goal for me .
    but for now like you said. little steps . its not going to disappear quickly but once its gone hopefully it stays gone
    • mumof3.12kindebt
    • By mumof3.12kindebt 15th Jul 17, 9:37 AM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    today its raining. i feel awful. so its a quick trip to aldi for some essentials and then home to do a few hours chores then relax with the duvet and my book.
    i finished my first book last month . im now on to my second one . chapter 20 now ! really enjoying this whole reading thing
    • mumof3.12kindebt
    • By mumof3.12kindebt 22nd Jul 17, 8:03 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    Paid £100 off the credit card
    • mumof3.12kindebt
    • By mumof3.12kindebt 22nd Jul 17, 8:19 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    I'm excited to see what my new balances will be and how much I've paid off on the 1st of Aug compared to my last updates.
    Next aim Is in the 12k wagon.
    • mumof3.12kindebt
    • By mumof3.12kindebt 22nd Jul 17, 8:23 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    Scrap that. After my car payment has cleared my total debt will stand at 12956. Would be great to get it in the 11k wagon by September
    • Savertobe
    • By Savertobe 22nd Jul 17, 8:23 PM
    • 27 Posts
    • 176 Thanks
    Savertobe
    I've seen others do a very detailed statement of affairs - it looks like your not accounting for all the costs you are likely to incur - better to budget carefully then it will allow for some small treats and some for necessary purchases such as new appliances. It may take longer to pay everything off and I can see this is your main goal but it might not work without a detailed plan. However, you will have to do it a bit at a time as you have your hands full.

    Good luck and hope your little one is well.

    Working on my own SOA and detailed budgeting plan plus actual spend against budget. Lets see how it goes!
    • mumof3.12kindebt
    • By mumof3.12kindebt 22nd Jul 17, 8:35 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    My budget includes. All household bills council tax. Rent. Car costs. food petrol. Kids clubs. Then 200 per month for the non monthly spends like clothes furniture etc. Then the credit card payments I aim to make each month and catalogue payments.
    But you are correct I do need a more detailed budget. The one currently is to give me a rough idea of what comes in and what goes out
    All of August I'm noting all spends to do a more accurate budget in September
    • mumof3.12kindebt
    • By mumof3.12kindebt 24th Jul 17, 7:04 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    Did the food shop. With a list and meal plan.
    Have budgeted £70 a week.
    This week it works out at 2.10 for each of us (4) a day. I don't think thats too bad. We didn't fill the trolley full of rubbish and came in on budget including formula and pudding for the 2 kids. (jelly and icecream). It maybe more than some but the fact we stuck to our list and in budget I'm happy.
    • mumof3.12kindebt
    • By mumof3.12kindebt 26th Aug 17, 10:04 AM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    Wow I haven't posted for a month.
    Fell off the wagon slightly.
    Good news is. I've sorted our budget and plan of action
    I should be debt free completely in 18 months from Sept.
    Now let's stick to keeping track.
    After the debt is gone I'm saving up a deposit for a mortgage / house. We are considering moving further afield where property prices are cheaper providing we can transfer 2nd born to another sen school.
    We originally planned to buy no later than 35. We are hoping to bring this forward to before 30 and mortgage free by 50.
    Let the fun begin
    • mumof3.12kindebt
    • By mumof3.12kindebt 3rd Oct 17, 11:03 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    july
    car £9072
    credit card £3500
    catalogue £1300
    total £13872

    October
    Credit card £2900
    Car £7900
    Catalogue £1300
    Total £12100


    We are trying even harder this month than all the months previous.

    Let's get this debt gone
    • mumof3.12kindebt
    • By mumof3.12kindebt 3rd Oct 17, 11:08 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    October nsds
    1st nsd
    2nd food shop in budget
    3Rd nsd
    • mumof3.12kindebt
    • By mumof3.12kindebt 5th Oct 17, 2:02 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    4th Oct £23 in nursery fees
    Plus made £4 selling a pair of shoes
    • mumof3.12kindebt
    • By mumof3.12kindebt 5th Oct 17, 4:47 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    Lots listed for sale.
    Avoiding eb@y to try and avoid charges.
    Lots more too list too

    Aim to try and save 200 this month. Not sure it will be possible without sales. But I also aim to pay about 200 off my debt not including car direct debit. I will update with debt totals at the end of the month / first of every month to keep track.
    Nsd today (5th November)
    • mumof3.12kindebt
    • By mumof3.12kindebt 5th Oct 17, 4:49 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    October nsds
    1st Oct -nsd
    2nd Oct -food shop in budget
    3Rd Oct -nsd
    4th Oct - £23 spent for nursery fees
    5th Oct - nsd
    • EssexHebridean
    • By EssexHebridean 5th Oct 17, 4:51 PM
    • 8,149 Posts
    • 43,020 Thanks
    EssexHebridean
    Going well there then!
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£632.77 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • mumof3.12kindebt
    • By mumof3.12kindebt 5th Oct 17, 4:53 PM
    • 119 Posts
    • 265 Thanks
    mumof3.12kindebt
    TOTAL debt June 2017 £14898
    Total debt October 2017 £11940

    Total paid off £2958
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