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    • pinknfluffy28
    • By pinknfluffy28 18th Jun 17, 12:09 PM
    • 733Posts
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    pinknfluffy28
    My not-so-fluffy journey to being debt free
    • #1
    • 18th Jun 17, 12:09 PM
    My not-so-fluffy journey to being debt free 18th Jun 17 at 12:09 PM
    I have decided to start myself a diary thread, as I really need to be firm with myself!

    A few years back I worked very hard to get my overdraft down to zero! Life was great for all of 4 months, and then i was unexpectedly made redundant from work.
    We made the decision that I would stay at home, and concentrate on getting my little craft business off the ground.

    Long story short, it was a very bad decision. I ended up ploughing money I didnt really have into promoting and upgrading my business - resulting in very few new sales, and a brand new overdraft debt of £1500 :-(

    I am now working part time again in a school, and still continuing with my business, but have accepted its never going to make me rich.

    We work in a rather untraditional way, in that hubby and I have seperate accounts, he pays the mortgage and all bills, and I am now expected to pay for all food shopping, christmas and birthday gifts, and clothing for myself and 2 children.

    Now realistically, this is doable on my £430 a month wage - but he doesnt know that I have £45 a month going out on my overdraft fees, before even paying anything off the actual debt!

    So very careful spending and saving is required. Here's my basic budget and outgoings:

    In £430 p/m
    Out £360 p/m: £200 food shopping, £45 fees, £20 phone bills, £20 girls clubs, £5 business insurance, £30 christmas/birthdays savings, £20 clothing, £20 actual spending money (icecream for the kids, a trip to the museum etc).

    It's a very tight budget, with little room for error, i will be yellow sticker buying as much as possible, and also sourcing as many clothes and gifts as I can from charity shops.

    But, that leaves me £70 a month which I will be using towards paying off the overdraft

    But that will take over 18months, I want to try and do it much much faster (12 months max)

    So these are the other ways I intend to put more money into the paying off my overdraft fund:

    All business earnings will be split 50/50 on debt and back into business supplies: Approx another £20 p/m off debt (told you it wasnt ever going to make me rich!).

    Payment a Week Challenge (whatever is left from food/spending money each week).

    5p Savers jar challenge & 50p savers jar challenge

    Any overtime etc (which is a rare occurrence) will again be split 50/50 between debt, and our holiday fund spending money.
    Roadkill and Wombling - I know this wont be a huge amount, and this will go towards extra food for Christmas.

    Today is the day I start. I will try to reply to myself at least once a week, and update my totals. Please feel free to follow my journey, and laugh and cry with me, but I would appreciate it if comments were kept to a minimum, this is just my way of keeping track, and making it all official (somebody suggested by posting a public diary I would be more inclined to succeed!) xx
    It's not about getting what you want, It's about wanting what you get.
Page 1
    • pinknfluffy28
    • By pinknfluffy28 18th Jun 17, 12:11 PM
    • 733 Posts
    • 9,394 Thanks
    pinknfluffy28
    • #2
    • 18th Jun 17, 12:11 PM
    • #2
    • 18th Jun 17, 12:11 PM
    Payment a week totals: June £2

    5p Saving jar totals: June

    50p Savings jar totals: June

    Roadkill totals: June

    Business/Overtime extra payment totals: June
    It's not about getting what you want, It's about wanting what you get.
    • pinknfluffy28
    • By pinknfluffy28 18th Jun 17, 12:19 PM
    • 733 Posts
    • 9,394 Thanks
    pinknfluffy28
    • #3
    • 18th Jun 17, 12:19 PM
    • #3
    • 18th Jun 17, 12:19 PM
    And I have kick started today by transferring the £2 from a very old savings account into the dreaded overdraft account. Also went for a long walk with my youngest in the hope of road kill, but zero success.

    Once hubby is awake (been on a night shift) I am going to label the jars I have sorted for my 5p and 50p saving, and see what loose change I have in my purse to hopefully kick start them too.

    Feeling very positive today, my biggest fear in my strict budget was the food shopping, but last night I managed to do a full week shop for us all (thanks to meal planning on the go, and lots of ys finds) for just £30.53p - that included meat, veg etc for 6 evening meals, dairies, salads, cereal, a large bag of pasta, a few tins, bread, fruit, cooked meats and all snacks etc for pack lunches, and the only purchases I will need to make during the week will be some more apples and bananas, another milk, and another loaf - max £4 further spend on shopping!

    I aim to comment and update back on here every weekend x
    It's not about getting what you want, It's about wanting what you get.
    • UncannyScot
    • By UncannyScot 18th Jun 17, 1:02 PM
    • 220 Posts
    • 745 Thanks
    UncannyScot
    • #4
    • 18th Jun 17, 1:02 PM
    • #4
    • 18th Jun 17, 1:02 PM
    Hello and welcome

    Looks like you are off to a good start and I look forward to following your progress on here.

    Remember, we are all here to help, support and inspire each other. If you need any info or advice on anything, just post about it and someone will be along to help
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • Aaleigha
    • By Aaleigha 18th Jun 17, 7:29 PM
    • 355 Posts
    • 2,264 Thanks
    Aaleigha
    • #5
    • 18th Jun 17, 7:29 PM
    • #5
    • 18th Jun 17, 7:29 PM
    look or free activities in your town at the library in town parks etc for the summer holiday times (I dont knot the age of the children)

    could do a clothes circle with like mined mums - when mine were younger a group of mums (6 of us) all did a coffee and story session so everyone goes to a persons house and that person supplies a biscuit for each child with a drink and a coffee for mums the hostess woul take the children off to do a story time and chat time for about half an hour - hour its not long but great for everyone xx
    NSD JULY
    • pinknfluffy28
    • By pinknfluffy28 21st Jun 17, 2:21 PM
    • 733 Posts
    • 9,394 Thanks
    pinknfluffy28
    • #6
    • 21st Jun 17, 2:21 PM
    • #6
    • 21st Jun 17, 2:21 PM
    Thank you both for the lovely comments.

    Aaleigha the library is our favourite Sunday activity! Sadly I'm not much of a people person, very introvert, which is why I allow the expense of gymnastics, brownies etc to ensure the kids dont grow up like me! Seem's to be working so far, the both have lots of friends and ample confidence!

    The roadkill fund is looking super healthy due to a very lucky find of a £5 note in aldi carpark yesterday!

    Already have £4 in my payment a week pot, and a few hours overtime this week.

    I can do this, I will do this !! Positive thinking is my new best friend ;-)
    It's not about getting what you want, It's about wanting what you get.
    • EssexHebridean
    • By EssexHebridean 21st Jun 17, 5:02 PM
    • 7,279 Posts
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    EssexHebridean
    • #7
    • 21st Jun 17, 5:02 PM
    • #7
    • 21st Jun 17, 5:02 PM
    Oh well done on that £5 note!

    OK - I'm going to bite the bullet here. Tell your OH about your overdraft. He KNOWS you were made redundant, and you took the decision together for you to focus on your business. OK, it didn't work out as you'd hoped, but you REALLY don't need to shoulder this all on your own. Seriously - how would you feel if he was in this position, and didn't tell you about it? Deep breath, pick a moment when he's relaxed and chilled rather than the second he walks in the door, and just give him the facts.

    Something you might look at if you're at home during the day some of the time is surveys - it can be a reasonable pocket-money type earn for someone who has the time to commit, you could certainly clear £20 a month or more just with one like Prolific Academic if you're available to check the site during the day a few times. Even an amount like that would help!
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£373.02
    • pinknfluffy28
    • By pinknfluffy28 21st Jun 17, 10:21 PM
    • 733 Posts
    • 9,394 Thanks
    pinknfluffy28
    • #8
    • 21st Jun 17, 10:21 PM
    • #8
    • 21st Jun 17, 10:21 PM
    Thank you, I did try a couple of survey sites (valued opinions is the only one I ever got an actual payout from though!) but it was time when I could be making stock ready for next craft fayre (I try to do one a month) or fulfilling orders.
    I do swagbucks though, and average £10 a month which I get in amazon vouchers towards xmas, I hadnt accounted that into my budget though so might beable to reshuffle and get another £10 a month paid off.

    Oh believe me, i have thought about telling hubby, but I really cant, he will hit the roof, and I do not do well with conflict, trust me, at the moment that will just make the situation a whole lot worse, he has his own worries and also works away mon-sat almost every week, so I want to keep what time we do have as a family together as happy and peaceful as possible.. And whilst I appreciate what you are saying about it being a joint decision, but it was me who got into the mess (I knew I was over spending) so I will be the one to get out of it!
    It's not about getting what you want, It's about wanting what you get.
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