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  • FIRST POST
    • MrsSave
    • By MrsSave 30th Jul 17, 7:22 AM
    • 1,362Posts
    • 4,261Thanks
    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
    Check out my debt free diary 'Mrs S, family life and debt' below:
Page 3
    • quintwins
    • By quintwins 2nd Aug 17, 10:55 AM
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    quintwins
    Middle of the night, and I'm wide awake. I'm not sure why. Excitement for son's birthday or just still thinking about these interviews. I've been through ynab and the bank accounts and everything is balancing. I've been thinking about starting surveys again. I managed to get quite a bit of money before Christmas last year with them so would be definitely worth trying again.

    Right, going to look into that now!
    Originally posted by MrsSave
    hope you managed to get some sleep, I had a long night aswell but it wasn't for lack of trying, my toddler had different ideas.

    I have started surveys again, I also did quite well one Christmas and I've cashed out £5 in a week already. if I can get enough for youngest main Christmas present I'll be happy.
    DFW £1263/£28996 4.3%

    EF#240 £0
    • MrsSave
    • By MrsSave 2nd Aug 17, 9:43 PM
    • 1,362 Posts
    • 4,261 Thanks
    MrsSave
    hope you managed to get some sleep, I had a long night aswell but it wasn't for lack of trying, my toddler had different ideas.

    I have started surveys again, I also did quite well one Christmas and I've cashed out £5 in a week already. if I can get enough for youngest main Christmas present I'll be happy.
    Originally posted by quintwins
    Lack of sleep is horrible. I completely sympathise. £5 in a week is brilliant for surveys.
    YNAB - one of my favourite money saving tools
    Check out my debt free diary 'Mrs S, family life and debt' below:
    • MrsSave
    • By MrsSave 2nd Aug 17, 9:50 PM
    • 1,362 Posts
    • 4,261 Thanks
    MrsSave
    I'm already in bed and just checking in before I have an early-ish night. I've had a few birthday spends for ds today, but all expected and budgeted for. I just need to update ynab with them now. No job news today. Not expecting to hear from job 1 until tomorrow, job 2 I have no idea so it's just a waiting game.

    I'm going to be so on edge tomorrow waiting for job 1 to call. I know it won't be until afternoon as they've got an interview to do in the morning. I really need to keep reminding myself that I have so little experience in this field that the chances of me getting it are small so that I won't be too disappointed. Hopefully, 24 hours from now, I'll know!

    I had a quick look at surveys this morning, and still have money/swagbucks, etc leftover from when I last did them. I have £1 in my prolific account, 104 swagbucks and a whole 25p in my onepoll account. I think I'll just stick with these 3 as they seemed the best to pay out before, and I don't want to do too many and get confused/fed up!
    YNAB - one of my favourite money saving tools
    Check out my debt free diary 'Mrs S, family life and debt' below:
    • MrsSave
    • By MrsSave 3rd Aug 17, 6:04 AM
    • 1,362 Posts
    • 4,261 Thanks
    MrsSave
    I've gone through and updated ynab with yesterday's spends. I've also transferred some birthday money for my son that was paid into my account over to his isa. My boys have more money than me! I really hope that I can raise them to be sensible with money, to learn how to budget and live within their means.

    I did a few surveys last night before I fell asleep and onepoll in now at 85p.

    Today's the day. I find out about the job I want. I'm going to be completely gutted if I don't get it. Not much I can do about it now, though. I'm going to be such a nervous wreck all day!

    Other than sitting around waiting for the phone call, It's going to be a quiet day. We've got a very busy weekend coming up, so we're all (other than dh who is working) going to just chill. I may take the boys to the library this afternoon for a walk, though I may leave that until next week as there are so many new toys and books here from ds's birthday. I've promised ds that we'll play with his new Lego today (he's growing up and has moved on from duplo!!).

    The laundry basket is full to the top so I'm going to work through that today. I also need to wash bed clothes, but we'll see how we get on (and whether the weather will stay dry to hang things outside).
    YNAB - one of my favourite money saving tools
    Check out my debt free diary 'Mrs S, family life and debt' below:
    • MrsSave
    • By MrsSave 3rd Aug 17, 10:26 AM
    • 1,362 Posts
    • 4,261 Thanks
    MrsSave
    I've received an email from Tesco home panels today (I've been a member for ages) telling me that I've reached 50 points on my account so they're sending me a £10 voucher which can be spent in lots of stores (though not Tesco!). I've got 4 more children's birthdays to buy for this year (not inlcuding my little one) so that £10 will be spent in Argos, Toys r us or Mothercare on toys!
    YNAB - one of my favourite money saving tools
    Check out my debt free diary 'Mrs S, family life and debt' below:
    • quintwins
    • By quintwins 3rd Aug 17, 10:45 AM
    • 5,031 Posts
    • 29,281 Thanks
    quintwins
    I hope you hear about the job soon!

    Yeah lack of sleep is hard but it's worse when your not used to it, I've had broken or little sleep for 2 1/2 years now so it's just the norm for me.

    Lego is the bane of my life, if it's isn't putting away duplo every 5 mins it's standing on little bits of lego from the bigger boys.

    Yay free birthday presents
    DFW £1263/£28996 4.3%

    EF#240 £0
    • kirtsypoos
    • By kirtsypoos 3rd Aug 17, 12:59 PM
    • 3,088 Posts
    • 13,766 Thanks
    kirtsypoos
    Fingers crossed for Job 1 news Mrs S
    £175/3000 OH BC(94.16% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £175/31010.23 (99.43% paid)
    Mortgage - £161,000.00 (2017 O/P £3191.73) PAYDBX 17 #006 - £17,910.81/14,539.71
    • Pismo
    • By Pismo 3rd Aug 17, 2:40 PM
    • 24 Posts
    • 70 Thanks
    Pismo
    Fingers crossed you hear some good news about the job you want.

    Did you do your retraining via an online course? Must of been a busy mat leave for you!

    X
    • MrsSave
    • By MrsSave 3rd Aug 17, 7:16 PM
    • 1,362 Posts
    • 4,261 Thanks
    MrsSave
    Well I have news. More news than I was expecting today.

    News number 1: Job 1. The one I really wanted. It's mine!!!!!!!!!!! I got the job. I am soooooo chuffed, over the moon, on cloud 9, etc, etc.!! Job number 2 I still haven't heard, but woohoo!!!!!!!!

    News number 2: I thought I was coming into a little money soon. It wasn't guaranteed, but thought it may be happening. It's been confirmed today that it is happening. £20,000. I can't believe it. Until it's in the bank I still won't believe it. It could be a few months before we get it, but wow!!!!!

    Tonight, we had a Chinese takeaway and I'm now drinking a glass of prosecco. Celebration time tonight!!!

    We've already started to discuss what we're going to do with it. Obviously the sensible thing is to clear all our debts. But, we've discussed doing things a little differently. Our loan is almost £10k, but by the time the money is through will probably be a lot closer to £9k. We're going to pay that off. That will free up £260 each month. With the £11k left over, £5k is going straight to a savings account that we can't touch. Long term, emergency fund savings. We'll have £6k left over. There are a couple of things that really need to be done to this house. Dh estimates that will cost £4k. The £2k left over will go to the cc. Also, with our loan, if we pay it off early, we receive a refund from part of the interest (or something like that!). That will also go to the cc. The cc is on 40 months interest free, so we will clear it in that time, aiming for a lot sooner!!

    I just can't believe that this has all happened today. I have the job I really want, and we're getting a huge payout. As days go, today has been pretty good!!
    YNAB - one of my favourite money saving tools
    Check out my debt free diary 'Mrs S, family life and debt' below:
    • debtaghh
    • By debtaghh 3rd Aug 17, 7:20 PM
    • 856 Posts
    • 2,382 Thanks
    debtaghh
    Amazing news! Congratulations to both!

    It sounds like you have a good plan with the money.
    Debt 16th October 2017: Cc £49,987- family £37,561: total debt £87549

    Current debt: Cc £47, 520 , Family £ 37,288 total debt £84,808
    • quintwins
    • By quintwins 3rd Aug 17, 7:25 PM
    • 5,031 Posts
    • 29,281 Thanks
    quintwins
    Aww that's great news, if you just send what you are paying to your loan now to your credit card you'll have it paid off in time. it makes no sense to pay it early when it's interest free.

    Well done on the new job
    DFW £1263/£28996 4.3%

    EF#240 £0
    • pennywisepoundstupid
    • By pennywisepoundstupid 3rd Aug 17, 7:30 PM
    • 4,429 Posts
    • 13,824 Thanks
    pennywisepoundstupid
    Absolutely fantastic news, so pleased for you
    Be mindful of your self-talk. It's a conversation with the Universe."

    Debt free and saving for my future
    • louby40
    • By louby40 3rd Aug 17, 7:38 PM
    • 1,188 Posts
    • 3,262 Thanks
    louby40
    Wow! What a fantastic day for you all. Congratulations on the job.

    And the money, that's brilliant- so pleased for you
    Parent loan PAID IN FULL
    Emergency fund £670/£1000. Christmas savings £50/£600 Car maintenance £100/600
    Kitchen July £12,493 NOV £10,493. 18% paid off
    Barclaycard £142
    Car loan £2696 Mortgage £94,992
    TOTAL DEBT (with mortgage) = £108,323 (without mortgage) = £13,331
    • Pismo
    • By Pismo 3rd Aug 17, 7:52 PM
    • 24 Posts
    • 70 Thanks
    Pismo
    Wow! What a fantastic day you've had. Congratulations on the new job. Xx
    • MrsSave
    • By MrsSave 3rd Aug 17, 7:59 PM
    • 1,362 Posts
    • 4,261 Thanks
    MrsSave
    Thank you.

    Sorry Pismo, I forgot to answer your question. I am doing distance learning. It's online, though I get sent the books through the post. I have a tutor that I send assignments to, etc. and can contact if I'm stuck. It has definitely been a hectic maternity leave, but it is so definitely worth it.
    YNAB - one of my favourite money saving tools
    Check out my debt free diary 'Mrs S, family life and debt' below:
    • Honeysucklelou2
    • By Honeysucklelou2 3rd Aug 17, 9:50 PM
    • 510 Posts
    • 1,897 Thanks
    Honeysucklelou2
    Well done! Congratulations! Fantastic news! When do you start?
    paydbx #90 £475/£10,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3206 in Oct 17
    • Money spending mummy
    • By Money spending mummy 3rd Aug 17, 10:42 PM
    • 27 Posts
    • 46 Thanks
    Money spending mummy
    Well done for getting the job! Brilliant news.
    • MrsSave
    • By MrsSave 3rd Aug 17, 10:55 PM
    • 1,362 Posts
    • 4,261 Thanks
    MrsSave
    Thank you all for your messages. I'm so unbelievably chuffed. Honeysuckle I start in 3 weeks time.

    They say everything happens in 3s. £10 voucher, job then £20k. Not a bad day at all.

    I genuinely can't believe it. We'll still have some debt, but that debt will pretty much equal our savings. We will definitely keep using ynab, and keep going as we are, but with just a little extra in our pocket. We still won't have loads of money, but we will be able to breathe each month. We've decided we're going to have an allowance each of £50. That won't sound like a lot to some people, but for us to have that, it's huge! That money will be 100% ours to spend exactly as we want.

    Other than that, onepoll is up to £2.55 so I've managed to add over £2 to that. I've run out of surveys though on it at the moment. I also added 2 x 20ps to our 20p tin today. Ds gave the tin a good shake and it sounds pretty healthy. I know there won't be loads in there, but if I can get to £10 then that would be amazing! A bottle of Aldi gin for Christmas (one of the best apparently!!).
    YNAB - one of my favourite money saving tools
    Check out my debt free diary 'Mrs S, family life and debt' below:
    • MrsSave
    • By MrsSave 4th Aug 17, 7:32 AM
    • 1,362 Posts
    • 4,261 Thanks
    MrsSave
    I slept until 6:30 this morning. Best I've slept all week. I've had a message over night stating the money should be through within a couple of months. What does make me cross, though, is what we could do with that money if we had no debt at all.

    I still can't believe this all happened yesterday. By Christmas we should be loan free, and have savings that equal the rest of our debts. It's just amazing

    Back to today, I have checked ynab and the bank accounts. We have a family get together today, that will probably take up all afternoon!
    YNAB - one of my favourite money saving tools
    Check out my debt free diary 'Mrs S, family life and debt' below:
    • quintwins
    • By quintwins 4th Aug 17, 11:47 AM
    • 5,031 Posts
    • 29,281 Thanks
    quintwins
    Think of all the money you will save in payments that you can now treat yourself with
    DFW £1263/£28996 4.3%

    EF#240 £0
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