Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • MrsSave
    • By MrsSave 30th Jul 17, 7:22 AM
    • 1,427Posts
    • 4,641Thanks
    MrsSave
    Mrs S, family life and debt
    • #1
    • 30th Jul 17, 7:22 AM
    Mrs S, family life and debt 30th Jul 17 at 7:22 AM
    This is my 4th diary. I'll link the others in case anyone has absolutely nothing to do and fancies a read!

    Diary 1: MrsS is getting serious http://forums.moneysavingexpert.com/showthread.php?t=5045594

    Diary 2: Debt free before 35 http://forums.moneysavingexpert.com/showthread.php?t=5286098

    Diary 3: A pound stretching maternity
    http://forums.moneysavingexpert.com/showthread.php?t=5495440

    So, who is Mrs S?

    I'm in my mid early 30's and a mum to 2 lovely little boys. My second maternity leave is just coming to an end (sob). I'm a teacher but looking for a career change. I mentioned this career change back in diary 1, but I'm finally doing something about it. I have 2 job interviews next week and I'm still searching and applying for others.

    Debt

    I guess I wouldn't be starting a new diary if I didn't have any debts. Maternity leave and retraining has meant that the debt we had beforehand has increased. Significantly. I'm gutted, but from the retraining side, I just had to do it. Today, our debts stand at:

    Loan: £9,906.30
    Credit Card: £6,480.60

    We also have a mortgage of £92,720.52

    Excluding the mortgage, our current debt figure is £16,386.90. That's massive.

    So what are we doing about it?

    Not adding to it any more, that's to start! The problem is that a lot depends on whether I find work quickly. In an ideal world I will be working by September (even if it's something unrelated to what I actually want to do, as we need a second income).

    Using YNAB. I've used YNAB for a few years now, and love it. It's so clear in showing how much money we actually have, and splitting it between different pots.

    Paying £266.40 towards the loan every month, and around £65-£70 towards the card. The card is a very recent balance transfer, so not 100% sure on exact figures yet, but 1% is the minimum balance. I'm not sure whether to stick with the minimum, or a set amount each month. The set amount won't be much higher than the minimum, but obviously won't decrease every month. Possibly £65 per month. That means we will be paying £331.40 towards our debt each month. At this rate it would take 50 months to clear. 4 years, 2 months.

    Budgeting and treats

    I allow treats. They're budgeted for. I would fall flat on my face if we weren't allowed our treats. We do have little breaks away sometimes (not abroad, we haven't been abroad since our honeymoon). We save for them, though and pay with the money we have and not add to the debt. We have the odd takeaway and meal out, we have days out. I treat the boys on their birthdays and Christmas. I have this year started paying into Park for Vouchers in time for Christmas. I've budgeted for that every month.

    We put money into our car pot each month for the MOT and any extras it needs. Our car is 12 years old, and up until recently hasn't needed anything doing to it. A couple of little things are starting to need changing now so I'm hoping we'll have a few more years before the car get sorted too expensive. I do love my car! It's nothing special, not fancy and was cheap to buy with low mileage (we've had the car about 5 years).

    Right, I've probably bored anyone who's reading this enough for a first 'All about me' post.
    YNAB - one of my favourite money saving tools
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S, family life and debt' below:
Page 24
    • MrsSave
    • By MrsSave 13th Feb 18, 6:08 AM
    • 1,427 Posts
    • 4,641 Thanks
    MrsSave
    The keys I got cut on Saturday don't work!! Will be going into town today to get that sorted. I am still not feeling 100% and both boys are under the weather now too so really didn't want to spend yesterday traipsing around supermarkets seeing what was cheapest. I got everything I needed in Tesco. The shop came to £49, but did include a couple of bit for the foodbank, and a couple of bits for ds1 for half term which is next week here. I also really fancied salmon for food last night, so got a couple of fillets for us.

    It's mr S's birthday soon, so will be getting something from the boys for him. I've asked him what he wants and he mentioned some trousers he'd seen in Tesco. He could do with more clothes, so I'm more than happy to get them. Plus, they're on offer so will get 2 pairs in different colours.

    I did change Tesco vouchers for red spotted hanky, and the evouchers are in my account. Today I'll book the train tickets for our half term day out.

    Shrove Tuesday today, which makes dinner easy!!
    YNAB - one of my favourite money saving tools
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S, family life and debt' below:
    • MeandO
    • By MeandO 13th Feb 18, 9:23 AM
    • 1,264 Posts
    • 6,130 Thanks
    MeandO
    How annoying about the keys, hope you get it sorted.
    Hope you all feel better soon too, there are so many bugs going round here at the moment.
    From your comment about the reading books, I'm guessing you're in the same part of the world as me! It's a small world.
    Mortgage Feb 2015: £102,000 Mortgage now: £77,600
    2018 OP's (aiming for £100pm): JAN:£129.26/£100 FEB:£272.53/£100
    • MrsSave
    • By MrsSave 14th Feb 18, 9:14 PM
    • 1,427 Posts
    • 4,641 Thanks
    MrsSave
    From the Welsh countryside MeandO Far away from any motorway or city! Still plenty of shops nearby, though

    Nsd today. I was given the after school club bill, though, so will be paying that next time ds1 is there. I'm usually home alone on wednesday nights, but it seemed to make more sense me taking ds1 to school (as I'm passing the door almost!) so we gave ds1 the choice of where he wanted to sleep on a Wednesday night. He has decided to stay with me tonight, whilst ds2 is at Mr S'. He may change his mind every week, depending on where he'd rather be so that's 100% fine. It was really nice to spend an hour playing board games with ds1 after ds2 left this afternoon - it's difficult with the youngest toddling about everywhere.

    I've cashed out £5 on Prolific today. I'll put that £5 towards a half term day out next week.

    I've got some friends coming to stay Saturday night. It'll be the first time I see them/speak to them after everything that's happened. I've completely avoided it so far! We're going out for a mela Saturday night, and I'll use the money I have leftover from my birthday/Christmas for it. There won't be much left afterwards!

    I've kind of meal planned for next week - I've done it on the Tesco app, but haven't written anything down yet. I'll get that done by the weekend.
    YNAB - one of my favourite money saving tools
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S, family life and debt' below:
    • MeandO
    • By MeandO 15th Feb 18, 10:25 AM
    • 1,264 Posts
    • 6,130 Thanks
    MeandO
    I'm near the coast in the South West, about 10 miles away from the nearest city.

    I bet it was nice to have DS1 and Mummy time. DS and I love our time together now, we are so much closer than before his Dad and I split up. Last night we built lego together and marble runs!

    Enjoy your weekend with friends. xx
    Mortgage Feb 2015: £102,000 Mortgage now: £77,600
    2018 OP's (aiming for £100pm): JAN:£129.26/£100 FEB:£272.53/£100
    • JoJoC
    • By JoJoC 15th Feb 18, 11:21 AM
    • 1,507 Posts
    • 5,232 Thanks
    JoJoC
    With a 5 year old and a 2 year old, i know what it's like to try to get 30 minutes to play a board game with the oldest! Glad you managed some valuable 1-on-1 time without interruptions I'm sure your son loved it!
    CC1: £3804.52 / £3544.32 £300.20 paid | CC2:£5027.53 / £4781 £295 paid | Loan: £15,000 / £11,954 (£3,156 paid)

    July debt total: £23,832.05 | New debt total: £20,129 | Total debt paid: £3,703 (16%)
    *My debt busting and savings diary*
    • MrsSave
    • By MrsSave 19th Feb 18, 6:56 AM
    • 1,427 Posts
    • 4,641 Thanks
    MrsSave
    It's half term here. I'm working as normal this week which means today and tomorrow off. Both boys are already awake but as our rule is 7am to get up they're both in their bedroom with books/toys. It means I get another 20 minutes of quiet before the madness starts

    There has been a lot of eating out this weekend!! I went out with friends Saturday night for food and a few drinks. I also went out for lunch with the boys and Mr S Saturday, had lunch out with a friend yesterday before one of my friends caught the train home and had a Chinese last night But, I took £50 out of the bank, and spent just that and the money that was already in my purse (just under £10). I think for 3 meals/drinks out and a takeaway that wasn't bad!! I went halves with Mr S for lunch Saturday, so that was £10, lunch yesterday was in wetherspoons, so was £7 including a drink, and a Chinese for 1 was only £8. So around £30-£35 was spent Saturday night. Not bad considering, but won't be doing that again for a while!!!

    Out of the 3 friends I went out with, 2 of them mentioned their debts. I knew one of them used credit cards a lot, but she was so flippant with 'I'll pay for food on my credit card, you give me the cash because I've got 20 months to pay it off!'. The other friend has savings so not sure what she's up to!

    I did my food shop yesterday for the week, and it came to £23. I'll probably need a fruit and milk top up at some point, but otherwise a pretty good week. I have so much food in the house already I could probably have a few cheaper weeks. I also filled the car with petrol, but had been given a 10p per litre voucher off from my mum.

    I'm aiming for a not too expensive half term. I bought popcorn/drinks/treats with my food shop last week for me and ds1 to have a movie session whilst ds1 naps today. I haven't decided on the DVD yet, but he has a few he hasn't seen much of, or I'm sure there'll be something on tv I can record for us to watch. I also bought bits with the food shop to make a pizza so we'll do that this afternoon. My mum hasn't been well so I've said we'll pop to see her tomorrow afternoon with some cakes for a mini afternoon tea at hers. Otherwise we may visit the park if it's dry, or play in the garden. I did think about gardening, but it's still freezing from time to time here so I don't want to plant seeds and for them all to die!! We may pop to Wilko to pick up some things, or that will probably be an Easter activity.

    We have got a planned day out on Saturday, just me, ds1 and mr S. We'll go halves on that and I have worked out £60 each should cover the day. I've put my half to one side. We are going on the train as ds1 loves them, and used Tesco vouchers for the tickets. I've also won a free child's meal at TGI Fridays, so will eat there.

    Right, it's 5 to 7. I have 5 minutes before the chaos and madness starts!!!
    YNAB - one of my favourite money saving tools
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S, family life and debt' below:
    • enthusiasticsaver
    • By enthusiasticsaver 19th Feb 18, 8:44 AM
    • 5,663 Posts
    • 11,196 Thanks
    enthusiasticsaver
    You sound very organised and disciplined with money now Mrs S. Overpaying your mortgage even only a small amount each month is definitely worth it. Another thing to consider is your pension given you presumably work part time? Overpaying on that at some point will also put you in a good place for retirement. A long way off I know but the earlier you start the better. At least educating yourself early on about how your scheme works and the benefits is a worthwhile task.

    Good that you and Mr S can be civilised to take the kids out together. Makes it so much easier if you can get along.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • MrsSave
    • By MrsSave 19th Feb 18, 1:05 PM
    • 1,427 Posts
    • 4,641 Thanks
    MrsSave
    Thanks enthusiastic saver. I pay a higher percentage into my pension than I have to, and due to some error in the past with wages dept in work, they pay 1% more than I do into it from now on. The error didn't effect me as I hadn't started but they decided to bring me in on the same figures as everyone else. I do need to look into it a little more though to see what my predictions are and to decide about my teacher's pension - though will probably leave that where it is.
    YNAB - one of my favourite money saving tools
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S, family life and debt' below:
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 19th Feb 18, 1:13 PM
    • 928 Posts
    • 4,260 Thanks
    wishingthemortgaheaway
    Oh, if you do look into teacher pension options, I'd be interested to hear your thoughts.
    I've got 13 years contributions to the TPS, but I've not completely decided if I'm totally out of that life yet, or just on an extended career break.
    I do believe, I've got 5 years (well 4 now) during which time I can stay on the same t&cs as when I started teaching, anything after that means I go onto what ever the current t&cs at ewhen I return (I can garuntee they won't be more favourable as those I've had....)
    The 100 payment countdown (each payment = £400) 2018 Starts at 13/100 o/s £34,750.
    Jan 18 14/100 o/s £34,400
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2025
    MFW 2018 Challenge Member #162 £124.36/£2,500
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,664Posts Today

9,717Users online

Martin's Twitter