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  • FIRST POST
    • Lucylocks
    • By Lucylocks 10th Jun 17, 11:00 AM
    • 92Posts
    • 215Thanks
    Lucylocks
    Tales from the debt side
    • #1
    • 10th Jun 17, 11:00 AM
    Tales from the debt side 10th Jun 17 at 11:00 AM
    Hi all

    After lurking for a few weeks I thought I'd take the leap into putting my own diary online. Long story short - I'm 40 next year and having been in consistently dreadful levels of debt since 18 I decided once and for all to address this like a grown up! From my lurking on this forum I know this as a lightbulb moment.

    So far it's all gone remarkably well although I am becoming entirely fixated on saving money - I'm sure everyone who knows me is by now thoroughly bored of my 'exciting' savings. I'm hoping my enthusiasm maintains long enough to substantially reduce if not clear my debts before the big 4-0. The thought of approaching my dotage reliant on borrowings is enough to scare me into taking drastic action.

    Our family is 2 kids - 14 & 12 so we have constant demands for iphone, trainers etc, DH who is self-employed and a dog. Our finances have always been a bit murky; I was always in debt due to having too much fun in my younger days, he never knew how much he was going to earn, chuck in a couple of kids and it's a receipt for disaster.

    On the plus side - last year we undertook a huge extension to our house which before that was utterly rank. So a lot of my card debts relate to purchases that we really didn't factor in. For once however I do have a few tangibles to show for by borrowings other than pretty shoes and bad hangovers

    At the start of this adventure in March I owed £24.9k, today it will be just below £20k due my new found scrimping skills and a PPI refund which has come through today. Hurrah!! I'm going to enjoy a couple of hours seeing funds in my saving account before I move this to the credit card - and dream of the day that I actually have a positive balance. That will also be the day I tell my current bank to 'do one'.

    So if anyone's interested and wants to hear my mundane money-saving wittering's please come along for the journey. Lord knows no one in my family want to hear about how much I've saved on my household insurance anymore!
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
Page 1
    • Hiddenidenity
    • By Hiddenidenity 10th Jun 17, 12:09 PM
    • 4,230 Posts
    • 26,461 Thanks
    Hiddenidenity
    • #2
    • 10th Jun 17, 12:09 PM
    • #2
    • 10th Jun 17, 12:09 PM
    Well done that's an amazing start
    • Lucylocks
    • By Lucylocks 10th Jun 17, 12:30 PM
    • 92 Posts
    • 215 Thanks
    Lucylocks
    • #3
    • 10th Jun 17, 12:30 PM
    • #3
    • 10th Jun 17, 12:30 PM
    Thank you - I've a couple of other PPI complaints which I'm keeping fingers crossed for. It pains me when I realise how much I've spent on interest over the years. I just really want to keep my current momentum up and sort this once and for all
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • Supersaver88
    • By Supersaver88 10th Jun 17, 12:59 PM
    • 7 Posts
    • 20 Thanks
    Supersaver88
    • #4
    • 10th Jun 17, 12:59 PM
    • #4
    • 10th Jun 17, 12:59 PM
    Hi LL, congrats on starting your diary.
    Take a look at Dave Ramsey on YouTube, he may help with the motivation wise although it doesn't sound like you need it right now. He is American but its mostly relative, and he can natter on about Jesus on occasion but if that isn't your thing just throw it aside like I do.
    I do find he is a good talker and really motivating with a great radio show, not sure what others think of him.
    Good luck on your journey. Sounds like you'll have it beat in no time.
    SS
    • Lucylocks
    • By Lucylocks 10th Jun 17, 5:49 PM
    • 92 Posts
    • 215 Thanks
    Lucylocks
    • #5
    • 10th Jun 17, 5:49 PM
    • #5
    • 10th Jun 17, 5:49 PM
    Balls. I've just realised I forgot about 3 key things from today's grocery shop. I was so fixated on my list of 'bits' I forgot things like chocolate

    Plus I was £3 over budget - must try harder!!!
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • Lucylocks
    • By Lucylocks 11th Jun 17, 8:58 AM
    • 92 Posts
    • 215 Thanks
    Lucylocks
    • #6
    • 11th Jun 17, 8:58 AM
    • #6
    • 11th Jun 17, 8:58 AM
    Plan for today;

    Bake some sweet treats to go with lunches following shopping fail above
    Pay chunk off credit card with PPI money (sob) Update - have done this total o/s is now under £20k. Still an awful lot but feels like a major milestone achieved. Next target £15k.....
    Ironing (yawn)
    Sell tickets for event we can no longer make (hopefully make a bit on these)
    Housework (double yawn)
    Catch up on the archers (I'm officially an old bore)

    Hopefully a NSD although DH has to take DS to a rugby thing which will be £5 but that's coming from him so doesn't count towards my spends.

    Sundays for me are not exactly rock and roll!
    Last edited by Lucylocks; 11-06-2017 at 9:42 AM.
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • Lucylocks
    • By Lucylocks 11th Jun 17, 8:57 PM
    • 92 Posts
    • 215 Thanks
    Lucylocks
    • #7
    • 11th Jun 17, 8:57 PM
    • #7
    • 11th Jun 17, 8:57 PM
    Remarkably I have managed to achieve most of my list today. Epic amounts of ironing done whIlst listening to the archers.

    Tickets not sold yet but I've a few people lined up. Hopefully will be gone by Tuesday. Why do people say they want something and then pull out? So frustrating!!! I sold a few bits on eBay last week but only raised £20 or so but I guess it all moves things in the right direction.

    I also managed to finish tidying up the front garden. I was almost expecting the neighbours to complain that we were lowering the tone. All looking much better and I even managed to not injure myself with the electric hedge trimmer. All in all a productive day.

    I can't think what else I can do this week to make saving. I've pretty much trimmed alll the fat off my budget. I waiting for July to change my elec and gas tariff but everything looks to be more expensive than what we're currently on. Given the kids are constantly charging something we literally drain the national grid. I'm hoping this doesn't hammer my budget too much
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • Purplemumof2
    • By Purplemumof2 11th Jun 17, 9:32 PM
    • 5,288 Posts
    • 18,621 Thanks
    Purplemumof2
    • #8
    • 11th Jun 17, 9:32 PM
    • #8
    • 11th Jun 17, 9:32 PM
    Hiya Lucy,

    Thought I'd pop in and say Hi

    Sounds like you're on the right track, will be following with interest xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £7000.00 Cap 1: £457.35 BC: £5000.00

    AFD 0/10 NSD 0/10 LTW 0/10
    POAMAYC 2018 #?? PD £0.00/£4000
    20p Savers 2017 £2 Savers 2017 50p Savers 2017 SPC 11 2018 #003
    • Lucylocks
    • By Lucylocks 11th Jun 17, 9:48 PM
    • 92 Posts
    • 215 Thanks
    Lucylocks
    • #9
    • 11th Jun 17, 9:48 PM
    • #9
    • 11th Jun 17, 9:48 PM
    Thanks - I'm very glad to see another mum who has somewhat 'challenging' times with their kids. I love mine dearly but can't help but think they are the most likely to derail this debt-free journey. They're so used to me just shipping out a card this is a huge shock to them. I hope I can I still in them some financial awareness.

    I will make a note to check there are no cards registered to DS's Xbox. I think I'd weep and most likely swear a fair bit!
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • Purplemumof2
    • By Purplemumof2 11th Jun 17, 9:52 PM
    • 5,288 Posts
    • 18,621 Thanks
    Purplemumof2
    Thanks - I'm very glad to see another mum who has somewhat 'challenging' times with their kids. I love mine dearly but can't help but think they are the most likely to derail this debt-free journey. They're so used to me just shipping out a card this is a huge shock to them. I hope I can I still in them some financial awareness.

    I will make a note to check there are no cards registered to DS's Xbox. I think I'd weep and most likely swear a fair bit!
    Originally posted by Lucylocks
    Lol I think we may be in the same boat lol

    We can but try. My DS logged in to DH's account, that made the hassle harder *roll eyes*

    Cheering you on xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £7000.00 Cap 1: £457.35 BC: £5000.00

    AFD 0/10 NSD 0/10 LTW 0/10
    POAMAYC 2018 #?? PD £0.00/£4000
    20p Savers 2017 £2 Savers 2017 50p Savers 2017 SPC 11 2018 #003
    • Mrs*Spendalot
    • By Mrs*Spendalot 11th Jun 17, 10:14 PM
    • 19 Posts
    • 37 Thanks
    Mrs*Spendalot
    Hi! Sounds like you're doing great. We have similar aims as I'd like to be debt free by January when I'll turn 40... children are a massive money drain, we have 5 and some weeks I feel we haemorrhage money xx
    Debt June '16 - £21500
    Current debt June'17 - £10500 51% paid
    Car loan £10000/£7800 Loan £5300/£5300 CC £6200/£2700 Savings towards paying off car £700/7800
    DFD Aim - Dec '17
    • Lucylocks
    • By Lucylocks 12th Jun 17, 8:34 AM
    • 92 Posts
    • 215 Thanks
    Lucylocks
    Crikey Mrs Spendalot - 5 kids! I have 2 and it feels like I spend much of my life in a constant cycle of cooking. I can only imagine how much work it is to feed 5, you're grocery spends must be a nightmare. Any tips I can nab?

    Back to work today for me - not sure if I'll manage a no spend day but have managed to bring yesterday's left overs for lunch. Unfortunately for my colleagues its a curry which means I'll be stinking the place out. I'm not going to be popular
    • Lucylocks
    • By Lucylocks 13th Jun 17, 8:38 AM
    • 92 Posts
    • 215 Thanks
    Lucylocks
    Right so today I need NEED to sell those sodding tickets. Lots of interest but I need to get the cold hard cash in my sticky paws! I then need to remember that I am focused on cracking this debt busting and not view any money as free to spend on rubbish, or even stuff that isn't rubbish but that I really don't need.

    I've been super organised, which is very unlike me, by prepping lunches the night before for me and the kids. They are mainly pasta based however and I suspect the kids will soon grow sick of this. There are only so many twists you can add to a pasta salad I've discovered. Any exciting lunch ideas - ideally that I can prep the night before as mornings in my house tend to be stressful enough already.

    On a positive note I am astounded to report that I still have funds in the joint household account. DH and myself keep our finances mainly separate but have one household account which we both contribute to but I basically run (I don't think he even has a card for this account). Usually by this time of the month I've exhausted the joint account and am topping spends up from my personal account. NOT THIS MONTH. I cannot think that I've ever been in this position before. Everything is accounted for, I know when all the DD's are due to go and I question every spend. I am finding this weirdly exciting and enjoyable. Who knew I was such a geek? It's pay day in a fortnight and unless something comes and bites me on the ar$se in the meantime I think I might just make it. Hoorah for me!!!
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • Hiddenidenity
    • By Hiddenidenity 13th Jun 17, 9:11 AM
    • 4,230 Posts
    • 26,461 Thanks
    Hiddenidenity
    For lunches we did salads/pasta/rice/sanwiches/pittas/wraps/bagels.

    Soups/leftovers are good for older kids/adults.

    Pintrest has loads of ideas and I'm sure there will be some on the oldstyle board

    Well done on being so organised
    • Lucylocks
    • By Lucylocks 14th Jun 17, 8:46 AM
    • 92 Posts
    • 215 Thanks
    Lucylocks
    Still no news on the sale of these darned tickets - am now trying to sell through work. I fear I may end up having to take DC's after all

    I'm hoping today will be another NSD - am trying for at least 3 a week. It's been a real eye opener how this little 'couple of quid' spends add up over the week. I've never been a Costa fiend but certainly am a bit of a gannet when it comes to snacks which I think has probably cost me £100's of pounds over the course of the year.

    Yesterday I looked at projected budget for next few months. I've not factored in any holiday as we've not decided if we will get away this year. Realistically we have all the camping gear etc so I may just take kids away for a long weekend somewhere by the sea. DS has an overseas trip in summer hols with one of his clubs and DD has just signed up for school ski trip next year so they don't do too badly. I'm thinking make it a cheap summer this year and plan/save for a big one next year which won't be reliant on credit cards. Hoping my patience lasts until then!
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • clearmydebts
    • By clearmydebts 14th Jun 17, 10:47 AM
    • 6,087 Posts
    • 17,554 Thanks
    clearmydebts
    Still no news on the sale of these darned tickets - am now trying to sell through work. I fear I may end up having to take DC's after all

    I'm hoping today will be another NSD - am trying for at least 3 a week. It's been a real eye opener how this little 'couple of quid' spends add up over the week. I've never been a Costa fiend but certainly am a bit of a gannet when it comes to snacks which I think has probably cost me £100's of pounds over the course of the year.

    Yesterday I looked at projected budget for next few months. I've not factored in any holiday as we've not decided if we will get away this year. Realistically we have all the camping gear etc so I may just take kids away for a long weekend somewhere by the sea. DS has an overseas trip in summer hols with one of his clubs and DD has just signed up for school ski trip next year so they don't do too badly. I'm thinking make it a cheap summer this year and plan/save for a big one next year which won't be reliant on credit cards. Hoping my patience lasts until then!
    Originally posted by Lucylocks
    Sounds like a good plan re: the holidays. We are the same, holidays are our weakness and probably how a lot of the debt was built up.
    Total debt (starting September 2016): €21,872/€27,000
    BOI credit card: €6,000/€7,000
    Loan:€15,872/
    Savings: €0
    • Lucylocks
    • By Lucylocks 15th Jun 17, 8:49 AM
    • 92 Posts
    • 215 Thanks
    Lucylocks
    So the good news is that 2 of the 4 tickets should go today which means I'll be running off to bank the money - I'm rubbish with hanging onto cash, it just seems to evaporate. The other tickets should go next week so that'll be a bit more to put into my emergency pot.

    The bad news..... cc statement through today Although I've paid c £4K off this one over the last 5 weeks or so the interest is still £130+. I'm resisting the urge to apply for balance transfer until I know whether any of my current PPI complaints will be upheld. I just need to wait another 2 weeks for until the 8 week deadline is up for response. I'm not keen to accrue balance transfer fees if these aren't necessary. Sadly patience has never been a strength of mine

    I need to buy and post fathers day card today and also settle up on one of DC's trips (£250 ) so massive spends anticipated on the plus side that means I'm now clear to start saving for the September uniform shops. This will be the first year that I'm intending to kit both kids out without resorting to CC's which makes me feel good. With the dreadful, awful news of recent days/weeks it does make me appreciate what I've got. Hope everyone has a good day x
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • Hiddenidenity
    • By Hiddenidenity 15th Jun 17, 9:06 AM
    • 4,230 Posts
    • 26,461 Thanks
    Hiddenidenity
    If you've paid of so much just look at how much interest you have saved! There's not much you can do yet about the interest you're still paying so look at the positive side Amazing.

    Have a lovely day
    • Lucylocks
    • By Lucylocks 15th Jun 17, 9:38 AM
    • 92 Posts
    • 215 Thanks
    Lucylocks
    Update - bit of good news DH has paid £200 towards trip rather than £100 I asked for so I've only got to fork out £50. Today is looking to be on the up!
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
    • Lucylocks
    • By Lucylocks 15th Jun 17, 6:11 PM
    • 92 Posts
    • 215 Thanks
    Lucylocks
    As we are bang in the middle of the month and I've pretty much changed as much as I can until next payday and I'm feeling a little jaded. I want to do more but have to be patient (as I said previously, this has never been a strength of mine and probably explains the hideous level of debt).

    It's fair to say that there were a combination of things which finally got me to pull my head out of the sand;

    40 next year - a sobering thought when I think of the plans and things I would have achieved by now. We've not done badly but I feel we could do a lot better if not carrying this debt.

    Children are growing up - FAST! DD is now 14. Realistically I want to be able to support her, and her younger brother, should she or he decide to go to Uni or similar. Paying out silly amounts of interest and not reducing overall debt meant we wouldn't be able to support either child as much I would like to. I've been massively helped by my parents throughout my life and want to be able to do as much as I can for my children too.

    We work to hard too be this skint! Seriously - I work full time and run the house, DH is self-employed so puts in 6 day weeks, long hours, much hassle. We need to start feeling that we are working to enjoy stuff not paying back for things we probably don't even own. My aim is to have a really truly lovely family holiday when this is sorted, something that the kids will remember for ever as they won't always want to be going with us. To do this I need to have the money to pay for it and not be stressing about how long it will take to pay this back.

    We are fortunate; our house is almost renovated (another culprit for where the debts accrued from) with major works pretty much finished. It's much easier to economize when you're not living in a hovel I've found. Although this isn't our 'dream' house if we have to stay here for the next 30 years so be it, its home.

    What I am struggling with is keeping this in perspective. Having ignored my financial predicament religiously since 18 years old, I now find it really, really hard to concentrate on anything else. I'm sure I'm on a spectrum somewhere! I need to chill a little and keep things in perspective.

    Today I've opened second savings account. I now have 2 - one for irregular spends (school uniform etc) and 1 that is to be touched only in dire straits. It's got £200 in there. Not a lot but a start and it WILL grow. I've still money in the household account and, subject to not going bonkers in Mr A's at the weekend, we should make it to the end of the month with £100 under budget (more for the emergency pot ) Roll on payday!
    LBM 28/3/17 £24,971 28/6/17 £14,376 42% paid
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