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    • mumof3.12kindebt
    • By mumof3.12kindebt 29th May 17, 10:55 PM
    • 82Posts
    • 224Thanks
    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 3
    • mumof3.12kindebt
    • By mumof3.12kindebt 5th Oct 17, 4:54 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    Average of £591 per month
    • mumof3.12kindebt
    • By mumof3.12kindebt 5th Oct 17, 4:55 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    I'm determined to stay more focused so you will have to excuse my now hopefully daily. Weekly or monthly updates. To help me stay on track
    • mumof3.12kindebt
    • By mumof3.12kindebt 5th Oct 17, 4:56 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    No overtime available at work anymore. Will be getting a second job next Sept if not before when second born starts school
    • mumof3.12kindebt
    • By mumof3.12kindebt 5th Oct 17, 11:32 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    EssexHebridean

    Thankyou for your reply. Yes it seems we are hopefully finally on the right road for good.

    Haven't used my credit card since June either which is great.

    I feel I have completely changed my outlook with money. I no longer go into town spending stupid amounts on my credit card. I'm actually trying to pay more than my standard direct debit on my car.
    My ultimate aim is to welcome January 2019 with no debt. But if not then at least have it all paid off at some point in 2019

    Small steps.
    • mumof3.12kindebt
    • By mumof3.12kindebt 7th Oct 17, 9:54 AM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    I've actually paid off £100 more than I thought on my car.

    Also made another £6.

    Keep reminding myself small steps to bigger things.

    £21 spent on tobacco. I really would love to quit. Going to purchase a Vape when I have the spare money and use that to help me quit.

    I know we could save more if we didn't smoke but we aren't heavy smokers I don't think and we don't go out and rarely drink...
    • rjw4
    • By rjw4 7th Oct 17, 11:04 AM
    • 300 Posts
    • 182 Thanks
    rjw4
    You are doing so well and your diary has really motivated me to sort my debt out!!! Keep going
    • Savertobe
    • By Savertobe 8th Oct 17, 7:32 AM
    • 26 Posts
    • 163 Thanks
    Savertobe
    Fantastic work
    I have read your diary a couple of times now and it is inspiring - my issue is more keeping spending down now the debt has gone. I think you have done wonderfully and with a new baby too - attitudes to money really are the problem - I think it a treat now to have a new lipstick and unless I can really justify a spend then it does not happen. Money does not bring happiness and its a joy getting up not owing anything - I'd rather live off veg soup than borrow money now. Your in good place at 24 to really turn things around and have a great life. Hope your house dreams come true.
    • missymoo81
    • By missymoo81 8th Oct 17, 7:37 AM
    • 5,823 Posts
    • 19,628 Thanks
    missymoo81
    Hi I've just started reading your diary! Will keep reading, but just wanted to post, sounds like an amazing mission and you sound lovely, and full of love your family! Good luck. Will read through and post when I've finished!
    • mumof3.12kindebt
    • By mumof3.12kindebt 8th Oct 17, 4:20 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    I've brought myself a little gift.
    It's a house fund money box.

    I have so far £86.50

    With a further £15 to go in it this week. All from selling stuff we no longer need. I was going to put it towards debt but we are on track with my plan atm so I will leave it where it is for now.

    Thankyou so much for all your replies it really helps to keep me focused on the challenge / goal
    .
    7th Oct was a nsd
    8th Oct I brought a coat for winter rrp of around £40 and a cardigan for the baby which would of been around £35 new and a coat for baby. Again would of been around £35 new all for a grand total of 9.95. This is why I am so glad I learnt to love charity shops. All the items were needed.
    9th Oct

    I'm so glad I have got to a point I know longer feel the need to waste money and I also always ask myself before buying something do I or my family actually need it if not we don't buy it.

    The money box was a need in my eyes. It's given me a place to put our spare cash and reminds me why it's there and stops me spending it because its visual. I'm so pleased with what we have saved in it since buying it on Monday
    • mumof3.12kindebt
    • By mumof3.12kindebt 8th Oct 17, 4:23 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    * I no longer feel
    • mumof3.12kindebt
    • By mumof3.12kindebt 8th Oct 17, 4:41 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    Debt
    6th June 2017
    CAR £9288
    CATALOGUE £1610
    CREDIT CARD 4000
    TOTAL £14898


    8th October 2017
    Car £7800
    Catalogue £1261
    Credit card £2900
    Total £11961

    Nearly £3000 paid off in 5 months!!
    • mumof3.12kindebt
    • By mumof3.12kindebt 8th Oct 17, 4:44 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    It may not be as quick as others. But Im so proud of how much we have paid off so far. It feels great. I must remind Myself of the above post when I feel like progress isn't being made.
    • mumof3.12kindebt
    • By mumof3.12kindebt 8th Oct 17, 5:07 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    This month is tight as I had some time off due to illness. But we will hopefully pay off around 400 pound still including my car direct debit
    • mumof3.12kindebt
    • By mumof3.12kindebt 8th Oct 17, 5:13 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    Once all the debt in paid. Depending on our income I hope to put a minimum of £500 into savings for a house deposit. This will come to around 6000 a year.

    Baby is currently 6 months. Coming 7 months.
    I'm 25 I aim to buy by the time we are 30. Our absolute personal deadline is by the time we are 35.
    The goal is to save at least £20- £25000
    Of this at least £16000 will be a deposit the rest will be moving costs.
    Stamp duty solicitors fees etc
    • mumof3.12kindebt
    • By mumof3.12kindebt 8th Oct 17, 5:58 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    My birthday Is in July hence why I'm now 25 and not 24 anymore like I was at the start of my diary
    • mumof3.12kindebt
    • By mumof3.12kindebt 8th Oct 17, 10:25 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    Bed time.
    Today was another nsd.

    Catch up with you all tomorrow
    • mumof3.12kindebt
    • By mumof3.12kindebt 9th Oct 17, 2:10 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    Food shop day.... This day each week comes round too quickly...
    Anyway budget is 50. Hope to.come. In on budget again.. Will let you all know how it goes.. Don't have a massive list but we all know it soon adds up
    Nothing else to report
    • mumof3.12kindebt
    • By mumof3.12kindebt 9th Oct 17, 2:14 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    I've got all my dates mixed up some how.. 7th was charity shop spends
    8th was nsd
    • DebtFreeDuo
    • By DebtFreeDuo 9th Oct 17, 2:26 PM
    • 216 Posts
    • 991 Thanks
    DebtFreeDuo
    If you want to save for a house deposit whilst also paying off debts can I recommend a Help to buy ISA if you are first time buyers, the government give you a 25% bonus on every penny you save and the interest rates are good on them too, I currently get 3.5% interest on mine which justifies me not paying my debts off with what I have saved so far. You can only save a maximum of £200 per month but both you and your partner can both have one and you will both qualify for the government bonus.

    Great work on paying off your debts so far, you're doing a great job.
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £110.51/£150..NSD October 12/15
    • mumof3.12kindebt
    • By mumof3.12kindebt 9th Oct 17, 9:27 PM
    • 82 Posts
    • 224 Thanks
    mumof3.12kindebt
    I dont know what's best to do. Pay off debts then save. Or do abit of both.
    Abit of both I think will keep Me more motivated as I'll see my debts go down as well as my house savings go up.

    I have a 5% interest savings account atm.
    In the new tax year I'll be opening a help to buy isa and getting my partner to set one up in his name too.

    If I decide to save for a house along side debt it will break down as follows a month
    100 emergency fund
    250 house fund
    650 debt + car direct debit
    And I'll be debt free excluding mu car in around 14 months
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