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
    • DrSpendLittle
    • By DrSpendLittle 22nd Aug 17, 4:30 PM
    • 209Posts
    • 771Thanks
    DrSpendLittle
    Reducing Debt - being accountable and taking responsibility
    • #1
    • 22nd Aug 17, 4:30 PM
    Reducing Debt - being accountable and taking responsibility 22nd Aug 17 at 4:30 PM
    Hi everyone!

    DFW newbie here! Been a lurker for a while but have been so inspired by reading others' DFW diaries - it's literally all I've done this weekend! - that I decided to take the plunge and join in the fun. Now's the time. Had my LBM a few weeks ago and can't wait to get started

    So, a little about me before I state my financial situation and my goals:
    - a happy, healthy and engaged homeowner
    - settled in my career with a fairly well paid job & annual increment
    - looking at starting a family soon as time is ticking!
    - enjoys sports and the outdoors and a healthy approach to life
    - has just started using YNAB
    - has a 'secret' unsecured debt of just over £10k (2 x cc's)

    About DF
    DF is debt free but doesn't actively save. He seems to spend what he earns which isn't great since we have a tiny mortgage and lowish bills. He had family money passed on to him a few years ago on the advice of his mother's accountants - she would NEVER give it away otherwise. This dosh acts as a financial cushion for him .....and, admittedly, me gosh, it really has meant I've been a wee bit lacking in the old saving malarkey Time to banish this false sense of security!

    About DF and I's financials
    DF and I don't have a joint account. All bills / mortgage come out of his current account except car insurance and broadband/phone which I'm responsible for paying. I give him £465 every month towards bills (includes a deduction for car insurance) and he gives me half of whatever the broadband phone bill is. This arrangement is, on reflection, part of my problem as I have too much 'distance' from the reality of bill payments and direct debits etc etc etc I'm sure you all know the score....

    DF knows I have some debts but isn't really aware of the current status of my 'net worth' He's one of life's worriers so I am taking this DFW journey alone for now. I'm completely settled and happy with this idea and I have been managing it all on my own thus far, so no need to change. I got myself into this situation so I'll be getting myself out of it.

    Why the DFW diary?
    Well, we're thinking of moving home since we could take a few leaps up the ladder. Its time for our dream home. This has caused my LBM. I want my dream home and the only thing stopping me is my poor money management skills! Its also time to move. We've been here a while and have never fully settled.

    My interim goal?
    To clear £4K of debt by January so when we put the house on the market, my debt levels are lower. I obviously also want to make sure we can maximise our borrowing, so I want to demonstrate good money management skills and a good pattern of spending and saving.

    My overall aim
    But, more than this interim goal, I just want to be in control of my money and no longer feel guilty for spending it. I want to save up for things and have that lovely 'I deserve this because I saved for it' feeling when I buy something. I want to be responsible. And, I am here to become accountable.

    My plan of action!
    So....this diary is my way of sharing my story, being accountable for my actions, taking responsibility and doing all this whilst my other half is oblivious!

    I hope you join me on my journey and I look forward to joining you on yours.

    My current financials
    I'll post my current financial situation later today - got some work things to get done before close of play. Its been one of those 'working at home' days which have largely comprised of obsessing over YNAB and lurking on DFW diaries, oh deary me A hint of my procrastinating / self sabotaging ways......

    DSL
    Last edited by DrSpendLittle; 30-09-2017 at 9:20 AM. Reason: I'm a formatting perfectionist :)
Page 10
    • DrSpendLittle
    • By DrSpendLittle 8th Nov 17, 9:29 AM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    Wednesday Wonderings
    Morning Folks!

    Just dropping by to say hi and update on a few things. Had the boiler fitted on Monday, which all went well, but Mr Boiler Man wants to replace some pipework as a few radiators are not working properly. So, we'll need him back and we think it'll be another £500ish as he'll be working on the clock. We'll also need some remedial decoration work doing around our new boiler. Hoping DF can do the majority of that. We will need to buy paint as we have non left in the existing colour - a nice excuse to choose a different colour to freshen up the room! I'm looking forward to that. Should only need 1 tin for the whole room. Will need to come off next month's CC overpayment.

    I'm also going to visit family again later this month which is costing about £180 for the train / hotel stay. We've a poorly family member and unfortunately they live in That London, so not the cheapest of visits but worth it to be present during ill health. Will need to come off next month's CC overpayment.

    New clothes purchases for smart work events have been successful. Decided on a pair of trousers (£30), some shoes (£50) and a cardi (£35). Spent a bit more than initially planned but the three new pieces will open up my wardrobe and will be beneficial in the long run. I can wear the shoes and cardi smart casually for work. I may ring fence any xmas money I get to cover these extra spends. If not, then my £100 sales spending spree budgeted for January will be used.

    Dentist work will be completed this Thursday and then I'm away for work pretty much all next week. My slush fund should cover any expenses. I think I'll be fine.

    All in all, a rather expensive month so far!! Some of the extra costs (mainly the extra boiler work and the family visit) will have to come off December debt repayments. Frustrating but I can't do anything about it. However, the main thing is that no debt has been added, my repayments are still being made above minimums and I'm sticking to a budget. That'll do me for now

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 13th Nov 17, 9:54 AM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    Manic Monday
    Hello Peeps!

    What a rubbish effort on the diary updating front from me over the past 5 days

    Excuse: Had a really busy weekend visiting family (again!). All spends were budgeted for, so no movement there. Slush fund is looking a little less flush now.

    Having a slush fund has worked really well this month with having spends from travelling around to see family. It's been a relief to know I've a category in YNAB to use. I'm still disappointed with not being able to pay more off debt this month but, at the same time, I'm really happy that I've managed to budget all spending and not add to debt. These sorts of unexpected spends (boiler, dentist, visiting family, clothes) would have always just gone on CCs and become a contributing factor to debt accumulation. And I'd probably have gone a little wild and spent more than needed (on clothes) or fritted money away (on coffees and snacks whilst travelling).

    Away for work this week so won't be able to update much on here but I'm not expecting any significant changes in my budget / spending as everything is paid for in advance. Phew.

    Have a good debt slaying week ahead!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 16th Nov 17, 12:11 PM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    Mid Week Drop In
    Hiya peeps!

    Just checking in whilst back from one work visit before heading off on another. Busy week.

    Had another Ocado delivery arrive last night. We got given a free 3 month smart pass with our last order (thanks for the heads up Redo!!) so we have free deliveries until mid Feb, which is nice and means we'll probably make online orders fairly regularly. Feel a bit guilty not using my local Waitrose but to be honest, DF and I have seen a marked decline in the range of produce stocked over the past few years and have become a bit disappointed with it. The ready meal aisles have got bigger and fresh produce aisles smaller. Probably due to online shopping!! Anyway, we'll mix it up as I couldn't live without a good mooch around the supermarket!

    Other than that, not much else to update on finances. Middle of the month slump. Budget is going well, bit tight but doable. I've bought an early xmas present for myself from my MIL Some shoes. It turns out that buying clothes / shoes is a nightmare for me as it really does open the floodgates for extra spending beyond what is on the list. Anyway, the shoes are perfect (I have difficult feet) and are within budget so I will pay myself back when the dosh comes through in December. I've since talked myself out of buying at least two other items of clothing that I saw and wanted But I'm proud of my new thought process winning, which is that I can make these purchase when I'm debt free. There's only 9 months to go, 9 short months to knuckle down and get this debt paid off, then I'm free to spend my discretionary money on anything I want. Cant wait!

    In December, I've got to cover car insurance, final dental bill, remaining xmas gifts and about £100 of work expenses, plus I'm keeping £70 back for my slush fund as poorly family member will need another visit. Means I'll only, again, make about £358 of debt payments. Ugh. Hoping these 'life events' settle down soon so I can make some proper progress on the debt slaying again.

    January looks a bit better but then I have to cover a big car service, more plumbing work / decoration and a weekend away with the ladies. In February, I shall be off duty from the world and on full debt slaying mode

    My mobile phone contract expires soon and I'm now eligible for an upgrade but I'm going to keep iPhone and pop onto a SIM only contract at £10.95 per month. Will probably inherit DFs newer iPhone when he comes to renew his contract in the next 12 months or so.

    Have a great day!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 22nd Nov 17, 5:17 PM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    Windy Wednesday
    Long time no check in from me. Bad effort with keeping my diary up to date! Truth be told, its been a particularly busy time at the office with starting a new project. Still, I'm hoping the next week or to settle into a new routine and be back to regular postings.

    My November budget is still ticking along well. I've had a busy day in the office today, with quite a few meetings, but I managed to park on the road and avoid using a parking card. Took in homemade soup and bread for lunch and hoping to end the day on a NSD. I feel I'm settling in well to my new debt slaying routine at work and managing to keep daily spends during the working week to a minimum.

    Tomorrow I am out of the office in the morning at a meeting a in a nearby city and I'm hoping to keep spends down to a minimum. I may come back home afterward for lunch rather than heading into the office but I'll make the decision tomorrow.

    This weekend is a possible visit to my poorly family member. That will empty my slush fund and I'm hoping I don't need to 'borrow' into next months slush fund.

    Looking forward to payday next week and a fresh month of debt slaying and budgeting!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 23rd Nov 17, 8:04 PM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    Nearly the weekend, phew!
    Had a successful morning of work meetings in town and then decided to come back home for the afternoon to work remotely and have lunch here to avoid any unbudgeted spends.

    I've just done some more online xmas shopping and managed to get my penultimate pressie (for my sister in law). Just DF to buy for now plus some bits and bobs for DF, SIL and MIL. Also did an online Ocado shop to bulk buy some wine and fizz for the holidays.

    Pay day next week -yay! I'll be glad to get this month out of the way and make a fresh start next month. November has been a very tight month with lots of unforeseen spends visiting poorly family member (getting better now, phew!) and work visits that have well and truly put a dent in my slush fund. Hoping to get my work expenses back fairly quickly since we will get January's pay in mid December.

    December still has some big spends - car insurance and final phase of dental work to name a few - but by January, things should settle down and I can get back to making some bigger inroads into the debt.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 24th Nov 17, 10:39 PM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    Yada yada yada
    Had a quiet day today. Working at home and largely a NSD but did order some more xmas pressies online.

    Still unsure of plans this weekend and whether I'm heading south tomorrow to visit family. If not, it'll be a catch up weekend of cleaning and tidying. The house is beginning to look like a bit of a bomb site!

    I've literally £20 left to my name this month, with a £5 JL voucher. It should last till payday since its DF's turn to do the food shop and I've still got fuel in my car and frozen soups for lunch. Really cutting it fine tho!! .

    I've also ordered a couple of winter jumpers / cardis to try on. I am very short of warm winter jumpers / layers and with spending a few weeks over xmas in a very cold part of the country with family, I feel the need to stock up when there are bargains to be had. I'll be mainly using cashback (I'm due about £30) and some of December's salary, so not adding to the overall debt.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 26th Nov 17, 7:26 PM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    Sunday Funday
    Hello peeps!

    Back from a short break down south to visit poorly (but getting better, yay!) family member. Had train, hotel and food to cover. Expensive but budgeted for.

    DF ordered a food shop which arrived today. My new jumpers also arrived when we got back and they are perfect, so I'll be keeping both of them. Yay to being warm at xmas, finally! Will use cashback from the majority of the purchase but will top up with December's salary.

    Other than that, not much else to report. Have work meetings in town tomorrow so will have a train fare and coffee to buy but my final £20 of the month should cover that easily. Got one day in the office this week and already have enough fuel in the car to cover the journey (and frozen soup for lunch) so should be okay with making the £20 last until payday

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 27th Nov 17, 6:45 PM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    Ooof it's cold!
    Today was a busy day in town at a work meeting. However, I only spent £10 - train ticket (expensable) and a coffee. I took in lunch and water.

    Won an M&S cardigan on eBay last night for £0.99 which is a bargain! My maximum bid was only £0.99 so I wasn't actually expecting to win it but, hey ho, I can add it to the now growing pile of warm clothes I have. The cost, however, will have to come off my remaining £10 that is left for this month, meaning I now have £5.51 to last me to pay day Ooops.

    I need to pop into town tomorrow to collect a few xmas pressies that I ordered online. I don't envisage any other spends but I do have a £5 voucher for Waitrose just in case we need any top up items. I'll be working at home for the rest of the day so definitely able to keep costs down.

    I'm making spag bol tonight from defrosted mince. Hoping to freeze one portion for a mid-week easy dinner. Or have again tomorrow.

    Looking forward to payday so I can break the £3,000 mark for total debt repayments. And, £2,500 for credit card debt repayments

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 28th Nov 17, 4:50 PM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    Neeeaaaarrrlllly Pay Day
    Smirk. I love the day before the day before payday. It's like xmas eve eve and all that excitement over the wonderful experience of giving gifts, except, the gifts I'm giving are to myself - each month, I get to give myself the gift of debt repayment and being one step closer to my debt free date.

    I now have £3.06 in my purse and (technically) £2.97 in my bank account to last me to payday. There is more in my bank account there but its assigned to spends on my credit card associated with my ynab categories - I use my credit card for all my spends during the month and pay it off on the day before payday and reconcile my categories. That way, I get interest on my bank balance and cashback from my credit card company.

    This month has been incredibly tricky and an accountants dream - I've shuffled money around my categories like a money launderer and have actually made some December purchases in advance using my credit cards (mainly xmas presents, clothes and a desperately needed hair cut). I feel rubbish about doing this as its not good money management but its been necessary to cover the unexpected circa £500 of family visits this month to visit poorly family member (who is now recovering well!). I can't wait for payday when I can pay off my December spends before my CC statement is generated. I won't be doing this again, since I can't cope with the guilt! Nonetheless, that to me, is a very good sign

    Nearly a NSD day today - I used my £5 JL voucher in Waitrose to buy bacon and some stocking fillers but had to spend £0.08 from my purse to cover the difference!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 28th Nov 17, 4:54 PM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    10K views!
    Wow! I just noticed that my diary has got 10K views

    Thanks to everyone who lurks, reads and comments. Its so nice to know that I am not alone on my debt slaying journey.

    This site / diary has made the world of difference to my financial health. I've learned so much and been inspired and humbled from almost every diary I've read. I'm incredibly grateful to you all.

    MSE DFW is a wonderful community of everyday people just wanting to make a better future for themselves and their loved ones - you can't beat that!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • enthusiasticsaver
    • By enthusiasticsaver 28th Nov 17, 5:18 PM
    • 4,856 Posts
    • 9,176 Thanks
    enthusiasticsaver
    I use my credit card for food and fuel and pay it off each month too for the cashback. Every little helps. Love the monthly updates at the end of the month re spends against budget. Looking forward to Novembers update. Well done and sympathy re the poorly family member. We have one in hospital too
    1 week to go until early retirement. Debt free and mortgage free.

    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
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 28th Nov 17, 5:42 PM
    • 652 Posts
    • 2,593 Thanks
    wishingthemortgaheaway
    DSL.
    Your posts tonight ooze enthusiasm. I love reading everyone's end of the month and start of the month posts.
    So I'm really looking forward to diary reading this week.
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
    • DrSpendLittle
    • By DrSpendLittle 30th Nov 17, 10:13 AM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    November Summary | Spends & Expenses vs. As Budgeted
    Round up, round up! Tis the day when we get the pay. I love payday, can't you tell?!

    Lets get straight into November's expenditure profile. It's been a rocky road:

    Net Salary: £2,251.61 (after tax, NI, student loan & 9% pension deductions)

    October Carry Over: £10.05

    Total Monthly Budget: £2,261.66

    Total Debt Payments: £496.66

    Net Monthly Spends: £1,186.94
    Groceries: £186.85 (also used £15 JL vouchers in Waitrose)
    Cash: £90.80 (£most on family visits that involved train travel & food; £1 poppy appeal; £2.20 on parking; £4.15 on ‘lazy work lunches’)
    Toiletries: £8.38 (foot spray & plasters)
    Household Misc. £427.44 (new boiler)
    Work Expenses: £21.20 (train & tube)
    Misc. Slush Fund: £447.88 (£spent on family visits that included hotel, train and food)
    Ebay: £4.49 (M&S winter cardigan, a bargin!)
    Books: £1.24 (Audio book)

    Immediate Obligations inc. mortgage & bills: £527.84

    Yearly Expenses: £52.25
    Clothes: £52 (1 x cardigan & 4 x pop socks, 2 x heel grips)
    Interest: £0.60 (from CC1 final balance)

    Unspent residual from November’s Budget to carry over to December: £2.03, which represents £0.06 in cash, £1.97 in misc. slush fund

    Other Income received during November: £50.70 (£0.46 from T0pCashBack, £1.59 in bank interest, £45.65 in expenses refund, £3 found in swim bag). This has already been accounted for in the above ‘net’ monthly spends.

    Outstanding Work Expenses: £101.37 claimed last week, to be paid in January salary.

    The ‘Naughty Corner November CC Spends’ that I’ve shuffled into December’s budget: £684.23
    Xmas: £102.92 (gifts, stocking fillers & xmas drinks)
    Health: £243.20 (dentist & prescription)
    Hairdresser: £50 (necessary to avoid looking like Worzel Gummidge)
    Clothes: £180.44 (2 x shoes, 1 x trousers, 2 x winter jumpers, 1 x polo neck)
    Work Expenses: £92.67 (dinner, tube, train)
    Household misc: £15 (new front door mat)

    How do these spends compare with my 1st of the month budget?

    Monthly Spends:
    Groceries: £186.85 vs. £205 budgeted
    Fuel: £0 vs. £45.25 budgeted
    Cash: £90.80 vs. £23.60 budgeted
    Toiletries: £8.38 vs. £0 budgeted
    Household Misc. £427.44 vs. £610 budgeted
    Work Expenses: £21.20 vs. £0 budgeted
    Misc. Slush Fund: £447.88 vs. £129 budgeted
    Ebay: £4.49 vs. £0 budgeted
    Sport: £0 vs. £10 budgeted

    Immediate Obligations inc. mortgage & bills: £527.84 vs. £525.57 budgeted

    Yearly Expenses:
    Presents: £0 vs. £111.25 budgeted
    Health: £0 vs. £225 budgeted
    Clothes: £52 vs. £0 budgeted
    Books: £1.24 vs. £0 budgeted
    Interest: £0.60 vs. £0.00 budgeted

    Reasons for Shifts in Spending:
    - Unexpected visits to poorly family member 4 times resulting in £531.33 of non budgeted spends that had to be accommodated in my November budget. Was mindful with money the whole time but London is so expensive. Family member better now, really glad we were able to be part of the support.
    - Health, presents and (most of the) clothing spends were deferred to December by using CC3. Felt guilty about doing this but it was necessary, so fairly content. An emergency fund would have covered this, but I'd rather ride the 'interest free for 56 days' wave than lose a month of debt slaying to build the EF.
    - I had enough fuel left in the tank from last month and barely used my car this month, so didn’t need to spend any money on fuel. Phew!
    - I managed to keep the food bill down this month by better managing the fridge and freezer contents.
    - The clothing and shoe spend flood gates clearly opened. I was sort of prepared for this as it is my spending Achilles heel. But, I was fairly measured in my choices and purchasing logic and I've now got some decent winter jumpers & cardigans, which I mostly got in the sales. I have earmarked cashback and present money to cover two of the items. The others just simply come off Decembers budget.

    You'll see it was a bit of a struggle to balance the books this month with the unplanned but necessary visits to see family. However, I ended the month with debt slaying to the tune of £496.66, completely clearing CC1. I've already assigned all 'Naughty Corner November Spends' to this months budget and I've paid for a new boiler, all without going into debt. To me, it's simply remarkable to have managed this, especially when I think back to how I would have handled these spending challenges pre-LBM. The thought makes me shudder.

    Finally, I've just cleared CC3 of its 'Naughty Corner November Spends'. I'll reconcile my YNAB categories tomorrow when its the 1st of the month. Can't wait for the guilt to be over.

    Look forward to reading everyone else monthly round ups!

    DSL
    Last edited by DrSpendLittle; 01-12-2017 at 2:10 AM.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 30th Nov 17, 10:23 AM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    December's Budget
    Alrighty, plans for December are not too bad. Planned spends as follows:

    Salary: £2251.61 (net after tax, NI, student loan & 9% pension deduction)

    Other Income: £41.99 (from work expenses reimbursement)

    Debt Payments: £360.20 (the lowest amount since I started my debt slaying journey )

    Monthly Spends: £416.77
    Groceries: £148.82
    Fuel: £40
    Cash: £40 + £0.06 from November
    Work Expenses: £92.67 (to pay off last months spends still sat on CC3)
    Household Misc: £99.25 (£15 to pay off last months ‘Naughty Corner November CC Spends’ & £59.25 for some planned Ikea purchases. £25 for window cleaner)

    Immediate Obligations inc. mortgage & bills: £540.07

    Yearly Expenses: £976.56
    Health: £243.20 (to pay off last months ‘Naughty Corner November CC Spends’)
    Xmas Presents: £102.92 (to pay off last months ‘Naughty Corner November CC Spends’)
    Clothes: £180.44 (to pay off last months ‘Naughty Corner November CC Spends’)
    Hairdressers: £50 (to pay off last months ‘Naughty Corner November CC Spends’)
    Car Insurance: £400 (for annual policy purchase)

    Hoping this works. It is tight, but then again, we'll be spending two weeks staying with family and so I think it'll work.

    We get paid Jannuary's salary before xmas so I do have a bit of financial comfort this month. I've already done my YNAB budget for January and I've got a £500 slush fund for home decoration costs and £400 for a big car service that I don't expect to use all of. There is some wiggle room but I'm conscious I need to stop this 'spending next month's money this month' thought process that I adopted this month. It was necessary in November just to account for the amount of unexpected spends, but I need to make sure I nip it in the bud.

    DSL
    Last edited by DrSpendLittle; 30-11-2017 at 11:15 AM.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 1st Dec 17, 2:31 PM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    Insurance Overhaul
    I'm working at home today and just checking in whilst eating a grotesquely sweet cake from the local bakery that DF came back with. I'm not sure I'll need to eat again today. Sugar fail

    Anyway, I bought my car insurance last night, which came to £368. Got DFs too, which was a similar amount. Really pleased with that prices as they're half the price of A8miral The Rip off Merchant's renewal quote. We've gone with H4stings Dir3ct which DF is a little nervous about because he decided to did a tinterweb search for customer reviews and discovered that they weren't great for customer service. However, I then did the same search for competitor insurers and concluded that there are bad reviews for any / all insurers. My gut instinct is to stick with H4stings Dir3ct as we do have to declare 5 incidents between us - 2 x windscreen & 1 x contents theft that we didn't claim for but that are on our A8miral schedule and then 2 x claims for bumps & malicious damage, all of which have happened in the past 5 years.

    I also switched our buildings insurance from C0untrywide to Ax()a saving us £200 a year!! It turns out DF had never switched since we moved in 10 years ago

    Next on my list is contents insurance, which is due in January - again, DF hasn't ever switched, so I'm hoping for a decent saving too but I first need to do an inventory of items since we do have quite a few 'expensive' individual items that need declaring separately.

    Should I be worried about H4stings Dir3ct car insurance......? DF has me second guessing now. We have 14 day cooling off period so we could still cancel. Av1va is probably the alternative we'd consider though it's a bit more expensive.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • enthusiasticsaver
    • By enthusiasticsaver 1st Dec 17, 2:44 PM
    • 4,856 Posts
    • 9,176 Thanks
    enthusiasticsaver
    Couple of good posts there DR SL. As you say having to pay for last months spends is not ideal but at least you are not going further into debt for it and the cards are still going down. 25% since September is a good reduction.

    I have just renewed our buildings and contents insurance with AXA insurance too. £117 for the year which I was really pleased with. We have a high excess though, none of the extras and live in a low crime area. We have a large emergency fund though.

    Have you thought of combining buildings and contents as that might make it cheaper?
    1 week to go until early retirement. Debt free and mortgage free.

    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
    • DrSpendLittle
    • By DrSpendLittle 1st Dec 17, 3:04 PM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    2017 Debt Repayment Review
    As its the 1st of the month, I am now able to say that since my LBM, I have paid £3,200 off my debts!!

    That means over the past 4 months I've used on average 36% of my salary for debt slaying and lived off the remaining 64%. Alternatively, it means I've used 71.06% of two months salary for repaying debt.

    My current total debt level stands at £9,385.14, made up of £8,121,16 on CC2 and £1,263.28 in car finance.

    Just before my LBM, in late July, I was overdrawn by £639.45 with existing CC balances of £11,222.89 and car finance of £2,052.83. On 30th July, my total debt exposure was £13,915.17

    Woah! I've never calculated that figure before.

    But it does mean that, since 1st August, I've paid a total of £4,530.03 off my debts, which is 32.55% of the 30th July total!

    This is more than my 1st September total, but I'm sticking with September as my formal debt slaying start date as my LBM didn't properly turn on until 14th August.

    I'm happy with these 5 months of debt slaying when I consider all the unexpected family costs, big birthdays, xmas, pension contribution increases and annual insurance policy purchases I've paid for during that time.

    I'm so glad I made the decision to create this diary, own up to my debt, do something about it and learn from others. I feel so much more in control of my life and my future and I cannot wait to sign on to that debt free board!

    DSL

    EDIT: I've just updated my July 30th debt exposure figure. I initially used my August statement balances rather than the July statement balances. It now shows an even higher debt figure
    Last edited by DrSpendLittle; 01-12-2017 at 5:14 PM. Reason: I'm a numpty
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 1st Dec 17, 3:26 PM
    • 209 Posts
    • 771 Thanks
    DrSpendLittle
    Have you thought of combining buildings and contents as that might make it cheaper?
    Originally posted by enthusiasticsaver
    Yes but our currently separate policies expire in different months, so I made the decision to get buildings sorted first and then tackle contents when I get round to doing the inventory. I will look at insuring with the same provider if they give me a discount. I'll perhaps phone them up and get the to sell me the benefits of bringing them my contents insurance business their way. It may be cheaper to go via cashback sites, as I've already made nearly £100 in doing that with car and buildings insurances
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 1st Dec 17, 9:37 PM
    • 652 Posts
    • 2,593 Thanks
    wishingthemortgaheaway
    DSL,

    I love your round up above. You are such an inspiration.
    Even with the curve balls that have been thrown at you you haven't thrown in the towel. Here's to a fabulous Christmas. And a debt free future.
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 1st Dec 17, 9:45 PM
    • 2,272 Posts
    • 11,045 Thanks
    HairyHandofDartmoor
    You're doing really well, that's a lot to pay off in a few months .
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 October 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund
    Emergency Fund 1 = £818/Emergency Fund 2 = £203.76
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

376Posts Today

1,502Users online

Martin's Twitter
  • RT @bearface83: @MartinSLewis check out the @Missguided new 60% off offer. Upping the cost of items almost double to make us think it?s a?

  • RT @efitzpat: Thank you SO SO much @MartinSLewis for your Student Loans refund advice! I just got a grand refunded right before Xmas! Whoop?

  • Have a lovely weekend folks. Don't do anything (fiscally) that I wouldn't do!

  • Follow Martin