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
    • DebtFreeDuo
    • By DebtFreeDuo 20th Sep 17, 8:43 PM
    • 617Posts
    • 3,018Thanks
    DebtFreeDuo
    This Duo's debt free journey
    • #1
    • 20th Sep 17, 8:43 PM
    This Duo's debt free journey 20th Sep 17 at 8:43 PM
    I had a previous thread but having problems locating it so thought I would start a fresh one. Brief intro, the duo is me and my little one, just over a year ago my debt was at a figure of around £12k, as of today it stands at £6124.40. This is made up of 2 loans (one car) and one credit card which is 0% until April 2019.

    My aim is to save up over the next 6/8 months so that I can overpay 6 months worth on the loan with the shortest term, this will clear the loan completely as the last payment is December 18. Then I will tackle the second loan which is due to end April 19, I aim to clear this by around December 18 and then clear the 0% card last but well in time for the 0% ending.

    I can't do much until January, I'm currently studying and therefore get my income 3 times per year which I use to overpay, I have just cleared £1500 which is all I can manage until my next payment. This includes a monthly saving to my Help to Buy ISA. I have around £4k in my ISA but I am reluctant to use this to clear my debts as I will earn more back on this then I will save in interest with the governments 25% bonus.

    I have gone over all of my monthly bills and I am certain that I cannot make any further savings than I have made recently. I am currently listing as much on ebay as I can to give me a little extra money for treats that I haven't included in my budget up to December.

    Will update my signature shortly but as it stands my debt free date is April 2019, I aim to bring this forward to Dec 2018 at the very latest.
Page 4
    • DebtFreeDuo
    • By DebtFreeDuo 11th Oct 17, 10:04 AM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    Total spends left to Jan: 340.59, the only money I have spent has been on 1 day of car parking. PA has come to a complete standstill for me, currently on £22.35 which I will take out once the pending amount has cleared.

    Have been thinking a little about Christmas, I made a start on this with a couple of good deals from prime day a couple of months back so 5 presents are already sorted, the problem is the remaining 12. I'm trying to really cut down this year with how much I spend, I never went crazy before but it all adds up when there are so many people to buy for. I have reduced the budget for everyone this year which now tells me I have to find £165 for those who I haven't yet bought for, I have £81 in my amazon account from surveys which is included in the above total spends, I am hoping that I can somehow not spend any more than this.

    For DS I have £40 in my spreadsheet (my limit previously has been £100), I'm considering reducing this completely and just getting him a couple of small bits to compliment the gifts that he will receive from others, I'm quite lucky that 2 of his grandparents always ask me what to buy and their budget is around £50 each so the bigger things he wants I can ask them to buy for him. I'm also lucky that hes an absolutely wonderful child who is extremely grateful for the things he receives no matter how big or small they are.

    If I can get Christmas sorted for the £81 I have in vouchers and a further £10 from elsewhere and set aside £70 for my MOT that will leave me with £200 spends for food, fuel and car parking with half term to get through. Its going to be a challenge but as previously mentioned I do have an available overdraft at 0% and I will get christmas/birthday money. I think the biggest thing I need to be careful with is not to have a massive blow out in January, I can wait 9 months and have a huge guilt free blow out in September/October instead when I will be officially debt free!
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • DebtFreeDuo
    • By DebtFreeDuo 11th Oct 17, 1:14 PM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    Pondering on something today, how do you help someone who isn't yet ready to help themselves? Someone close to you who continuously relies on finance and rental schemes even though they can't afford the ones they already have, how do you change their mindset without a fallout? I know that things have their pros but they cost so much more.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • Hiddenidenity
    • By Hiddenidenity 11th Oct 17, 1:45 PM
    • 4,230 Posts
    • 26,461 Thanks
    Hiddenidenity
    You can't change someone else's mindset until they are ready to accept the problem and deal with it. As hard as it is, you just need to step back and focus on yourself.. Don't let them bring negativity into your plans.

    As for christmas is it not better to cut down on others you buy for/say don't buy gifts this year and spend that on DS? I only buy for my children and my nephew now. All the adults agreed it was much easier sticking to children only.
    • Nicnak
    • By Nicnak 11th Oct 17, 1:47 PM
    • 544 Posts
    • 2,687 Thanks
    Nicnak
    I agree, they have to want to change.
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • DebtFreeDuo
    • By DebtFreeDuo 11th Oct 17, 2:09 PM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    You can't change someone else's mindset until they are ready to accept the problem and deal with it. As hard as it is, you just need to step back and focus on yourself.. Don't let them bring negativity into your plans.

    As for christmas is it not better to cut down on others you buy for/say don't buy gifts this year and spend that on DS? I only buy for my children and my nephew now. All the adults agreed it was much easier sticking to children only.
    Originally posted by Hiddenidenity
    I know deep down that you can't change someone else's mindset, I just wish there was some way you could.

    My problem with Christmas is that out of the 12 I have remaining 7 of those are children, I still buy presents for cousins on LO's dads side because I am quite close to them and I receive all the presents from them rather than them going to LO's dads house. In all honesty I probably spend more money at Christmas on my exes family than my own and I wouldn't really know how to change that without feeling like I'm offending them. I also feel like if I buy for one then I have to buy for all, for example I get on well with one of the siblings and see their children regularly, another sibling we don't exactly get on well but I still feel I have to buy for them because I have bought for LO's other cousins.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • Nicnak
    • By Nicnak 11th Oct 17, 4:37 PM
    • 544 Posts
    • 2,687 Thanks
    Nicnak
    That's difficult. Could you perhaps do a 'token gift' for the one you don't get on with, a little craft set or stationary set for under £5? I find all sorts of bargains in Tesco craft aisle that I buy for birthday parties for my little one. They look decent quality and not like their cheap.
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • EssexHebridean
    • By EssexHebridean 11th Oct 17, 4:56 PM
    • 8,231 Posts
    • 43,545 Thanks
    EssexHebridean
    That's a good idea on the craft set type of thing - although I can see if they all see one another you can't treat one differently to the rest - it's a tricky situation.

    As for getting someone else to have their LBM, there's almost nothing you can do other than sharing your own experiences ("Goodness I can't believe I had my head in the sand about credit card debt for so long - it scares me now to think what could have happened if I'd not realised where I was heading!") and helpfully dropping bits of information in to the conversation ("Have you come across that Martin Lewis site? Masses of really good advice on there!") That does sink in sometimes, although it can be a slow process. I've got friends who now make it their first stop for various financial things, which is at least a first step towards stopping using credit etc.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£656.45 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • DebtFreeDuo
    • By DebtFreeDuo 11th Oct 17, 5:03 PM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    Thank you Nicnak and EH. I do like the craft idea, this year I think I'm going to give presents out on Christmas Eve rather than giving them to them when I see them Christmas Day then it shouldn't leave any room for comparing. I have dropped my budget down to £10 per child this year anyway so they won't have much to compare and I was thinking of the craft thing for the one of them anyway as she loves crafts.
    Last edited by DebtFreeDuo; 19-10-2017 at 1:45 PM.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • Nicnak
    • By Nicnak 11th Oct 17, 6:14 PM
    • 544 Posts
    • 2,687 Thanks
    Nicnak
    I've picked up the draft sets reduced to around £6, and they're decent sets. Originally £12 some of them too.

    If you get 4 of them at this price, that's £16 saving.
    I'll have a look later and see if I can see them for you x
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 11th Oct 17, 6:16 PM
    • 544 Posts
    • 2,687 Thanks
    Nicnak
    https://www.tesco.com/direct/go-create-drawstring-activity-backpack/306-3326.prd?skuId=306-3326



    https://www.tesco.com/direct/3d-designer-bead-studio/335-9604.prd?skuId=335-9604


    https://www.tesco.com/direct/creatology-kinetic-float-sand-purple/110-8707.prd?skuId=110-8707

    Just some examples where they were £10 or over, but now well below £10 x
    Last edited by Nicnak; 11-10-2017 at 6:19 PM.
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • DebtFreeDuo
    • By DebtFreeDuo 11th Oct 17, 7:02 PM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    These are great, thank you so much for taking the time to send them over! Think I might have to order a couple of the drawstring sets. Not sure if any of them are into beads which are a great price so I will play it safe with the bags.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • Nicnak
    • By Nicnak 11th Oct 17, 7:06 PM
    • 544 Posts
    • 2,687 Thanks
    Nicnak
    There's so many more. I always look at the ones that were more expensive and then reduced as they were obviously sold at that price at some point.
    I don't care if they google the price, just that I know they are getting something decent.

    I just went to google and typed in Tesco craft sets. Filtered by price.
    I use my vouchers when I'm buying it too, or just accept that I get club card points, better than nothing.

    If you can get the average down to between £6-£8 that will make a huge difference to your budget.
    Glad I could help.

    I always get these when my little one gets invited to birthday parties. x
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 11th Oct 17, 7:11 PM
    • 544 Posts
    • 2,687 Thanks
    Nicnak
    Another frozen thing if they are in to that?
    https://www.tesco.com/direct/doh-vinci-featuring-disney-frozen-door-design-kit/482-6366.prd?skuId=482-6366

    https://www.tesco.com/direct/disney-tsum-tsum-colour-your-own-bag-set/142-6588.prd?skuId=142-6588

    Check who it is sold by. If it is tesco you can get free delivery to your local store, if it is a third party, like the entertainer, they sometimes charge high delivery charges and it ends up not worth buying the item.

    I would always go for the tesco stuff to get the free delivery. I made the mistake once before of ordering without checking postage costs.

    Some of these are sold by the entertainer, but if you are buying a few bits, the postage might be worth the savings, x
    x
    Last edited by Nicnak; 11-10-2017 at 7:14 PM.
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 11th Oct 17, 7:50 PM
    • 2,233 Posts
    • 10,717 Thanks
    HairyHandofDartmoor
    DFD I used to spend a fortune on Christmas as my family is huge, but when we were so poor we couldn't even pay the bills DH and I said enough is enough

    We told everyone that we were not giving Christmas presents that year due to being short of money and not to buy us one.

    Now DH and I only buy for each other, our own three children and our parents. We spend £10 on the adults and £50 each for our children.

    Everyone is still speaking to us and we're not adding to our financial woes Read what Martin has to say about Christmas presents, I agree with every word.

    As a student I think you have the perfect excuse to stop gift giving. Your son is small so he will have no idea how much you spend on him, it's much harder when they are teenagers, so do it while you can
    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
    • DebtFreeDuo
    • By DebtFreeDuo 11th Oct 17, 8:21 PM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    There's so many more. I always look at the ones that were more expensive and then reduced as they were obviously sold at that price at some point.
    I don't care if they google the price, just that I know they are getting something decent.

    I just went to google and typed in Tesco craft sets. Filtered by price.
    I use my vouchers when I'm buying it too, or just accept that I get club card points, better than nothing.

    If you can get the average down to between £6-£8 that will make a huge difference to your budget.
    Glad I could help.

    I always get these when my little one gets invited to birthday parties. x
    Originally posted by Nicnak
    You have really helped, thank you so much, will get ordering tomorrow! I'll have a browse and see if I can find anything else on the website while I'm at it although I don't generally find many good deals.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • DebtFreeDuo
    • By DebtFreeDuo 11th Oct 17, 8:28 PM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    DFD I used to spend a fortune on Christmas as my family is huge, but when we were so poor we couldn't even pay the bills DH and I said enough is enough

    We told everyone that we were not giving Christmas presents that year due to being short of money and not to buy us one.

    Now DH and I only buy for each other, our own three children and our parents. We spend £10 on the adults and £50 each for our children.

    Everyone is still speaking to us and we're not adding to our financial woes Read what Martin has to say about Christmas presents, I agree with every word.

    As a student I think you have the perfect excuse to stop gift giving. Your son is small so he will have no idea how much you spend on him, it's much harder when they are teenagers, so do it while you can
    Originally posted by HairyHandofDartmoor
    Thank you, I've always stuck to a small budget with my LO, I want him to appreciate the value of what he gets and he always loves everything he gets. He is still very young and you're right, I can completely get away with only spending a small amount, for his birthday I barely spent anything because there was nothing he wanted or needed and I didn't want to just buy for the sake of him having something to open.

    My mum tends to get offended if she doesn't get anything so I can't drop her from my list and my dad will be expecting his whiskey but they both do so much for me, their partners on the other hand tell me often not to worry about buying them things. My brother will be easy to make a deal with over no presents so unless there is something I really want then I will suggest we don't buy each other anything. I think its more exes family I'm worried about offending.
    Last edited by DebtFreeDuo; 13-10-2017 at 8:18 PM.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 11th Oct 17, 8:35 PM
    • 2,233 Posts
    • 10,717 Thanks
    HairyHandofDartmoor
    You may be worrying more than you need to. You are a student and everyone knows students are poor. What about a token gift like a box of Maltesers?

    I appreciate you don't want to offend people
    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
    • Nicnak
    • By Nicnak 12th Oct 17, 6:19 AM
    • 544 Posts
    • 2,687 Thanks
    Nicnak
    I agree, and maybe a little poem in there to explain while you're a student you can't buy loads?

    Something like:
    Please find inside a gift I've bought
    I hope you'll appreciate the little thought
    This year I'm studying to do well
    It's emptied my bank account as you can tell.
    I hope you understand this gift to you
    Is currently the best that I can do
    I wish you all a wonderful day
    Merry Christmas to all is all I can say
    X
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 12th Oct 17, 7:10 AM
    • 2,233 Posts
    • 10,717 Thanks
    HairyHandofDartmoor
    Lovely poem and great idea nicnak
    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
    • DebtFreeDuo
    • By DebtFreeDuo 12th Oct 17, 7:49 AM
    • 617 Posts
    • 3,018 Thanks
    DebtFreeDuo
    I think you are both probably right and if it was anyone else I would be telling them something along the lines of 'if they are offended that you couldn't buy them something are they really a true friend?'.

    I absolutely love the poem Nicnak, thank you, I think I may just have to use it! Thank you both for taking the time to reply, I will definitely take this all on board and will keep you updated!
    Last edited by DebtFreeDuo; 13-10-2017 at 8:18 PM.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
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

5,112Posts Today

7,023Users online

Martin's Twitter