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  • FIRST POST
    • AdventureWanted
    • By AdventureWanted 8th Oct 17, 10:10 PM
    • 361Posts
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    AdventureWanted
    Adventure wanted, but first we must rid ourselves of debt
    • #1
    • 8th Oct 17, 10:10 PM
    Adventure wanted, but first we must rid ourselves of debt 8th Oct 17 at 10:10 PM
    Iíve ummed and aahed about starting a diary on here for a couple of months, but have decided that it is a good way for me to keep track of how our debt reduction is going and hopefully on those dark days when it feels like weíre getting nowhere I can remind myself of how things have improved.

    Anywho, Iíll give a brief overview of our life/debt.

    Iím a Mum to 3 Kids. Hubby is self employed and I Home educate the older 2 Kids. In August I finally had enough of our debts and decided to do something about it. After reading lots of diaries I downloaded ynab and took control of our budget. Our debts are due to a car loan, house repairs and mostly a lack of control over finances so monthly spending got out of control and we didnít really have much to show for it.

    As at 1 August (LBM) our debts were:-
    CC1 - £5,185
    CC2 - £13,470
    Cc3 - £11,400

    All of the credit cards are 0% and will be balance transferred to new 0% cards if we havenít paid them off at the end of the 0% deal.

    The future -
    We would love to travel. Firstly weíd love to visit every county in the uk and then travel further afield to the likes of Canada and Australia. Hubby and I regret not taking the opportunities to see the world pre children, but are now very keen to share these adventures with our kids.

    Weíd love to move to our forever family home, although we have no idea where in the country this would end up being in!

    And more than those above weíd love to have savings for our childrenís futures and not waste the extortionate amount of money we do each month on debt repayments.

    Iíll post my current debt situation post LBM in the next post.x
    LBM Aug 2017. DFD - Feb 2021 / Dec 2021
    CC1 - £0 / £5,185 1/8/17. CC2 - £5,200.00 / £13,470 1/8/17. CC3 - £10,700.00 / £11,400 1/8/17
    CC4 - £12,480.00 / £13,000 20/11/17
    2018 1% challenge - #1 - 18%.
    PAYDBX 2018 - #29 Pd £2,300.60 / £12,500
Page 8
    • AdventureWanted
    • By AdventureWanted 3rd Feb 18, 8:05 AM
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    AdventureWanted
    Todays pads:
    £4 to CC2
    90p to EF

    To do this week:
    1 Need to double check my direct debits/standing orders this month and increase a couple of my savings payments.
    2 I had a renewal letter for tumble drier insurance DH took out which I dont want (gone up to £4.50 p/m). Need to phone them to cancel it.
    3 Change reference details on banking for CC2 so I can make direct payments rather than making online payments via their website.
    4 Accounts work
    • AdventureWanted
    • By AdventureWanted 3rd Feb 18, 8:14 AM
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    AdventureWanted
    Feb goals:

    Aiming for 15 NSDs this month. Yesterday was a NSD (I resisted the coffee shop even though it was freezing watching the kids play tennis outside), so currently 1/15.
    • jwil
    • By jwil 3rd Feb 18, 8:38 AM
    • 8,069 Posts
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    jwil
    Have a good weekend
    "If you can dream it, you can do it". Walt Disney
    • JoJoC
    • By JoJoC 3rd Feb 18, 9:46 AM
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    JoJoC
    Have you got a thermos style coffee mug you could use to take to tennis? I normally take my husband's Starbucks one to my son's swimming lesson to avoid the £2 cafe coffee which is a bit rank anyway.

    That way you're still able to keep warm and enjoy a coffee without spending.
    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*
    • AdventureWanted
    • By AdventureWanted 3rd Feb 18, 4:33 PM
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    AdventureWanted
    Have a good weekend
    Originally posted by jwil
    Thanks Jwil. Hope you have a good weekend too
    • AdventureWanted
    • By AdventureWanted 3rd Feb 18, 4:37 PM
    • 361 Posts
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    AdventureWanted
    Have you got a thermos style coffee mug you could use to take to tennis? I normally take my husband's Starbucks one to my son's swimming lesson to avoid the £2 cafe coffee which is a bit rank anyway.

    That way you're still able to keep warm and enjoy a coffee without spending.
    Originally posted by JoJoC
    Thatís a good idea - We have got an old thermos cup somewhere. Will have to dig it out and try and be more organised before we leave. Thinking about it I should try and make flapjacks for the kids to have after groups too, as doing that this week would have saved me £10.
    • AdventureWanted
    • By AdventureWanted 3rd Feb 18, 4:45 PM
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    AdventureWanted
    NSD again today . Thatís 2/15.

    Had a friend & her child over for a couple of hours which went ok. Glad it wasnít for any longer. (That sounds really mean - I usually love seeing them, just donít think Iím quite in the right mood today for company. Feel easily irritated).
    • Storm89
    • By Storm89 3rd Feb 18, 5:37 PM
    • 277 Posts
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    Storm89
    I know what you mean , sometimes your fuse is just short ! You've made me want flapjack now reading about making some lol.
    • AdventureWanted
    • By AdventureWanted 4th Feb 18, 2:11 PM
    • 361 Posts
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    AdventureWanted
    Small £1 payment made today to CC2.

    Having a really chilled out day at home today, which is absolute bliss. Its DHs last day on shift today. Feels like he has been at work forever, so looking forward to having parenting back up tomorrow.

    DC1&2 helped me make a stew in the slow cooker a little earlier which we will either have tonight or tomorrow.
    Most probably going to watch a dvd this afternoon with the DCs.

    Havent achieved anything on my to do list as yet this weekend, so have reposted it below to remind me tomorrow (or later if I can be bothered!!)

    NSD again today - 3/15.

    To do this week:
    1 Need to double check my direct debits/standing orders this month and increase a couple of my savings payments.
    2 I had a renewal letter for tumble drier insurance DH took out which I dont want (gone up to £4.50 p/m). Need to phone them to cancel it.
    3 Change reference details on banking for CC2 so I can make direct payments rather than making online payments via their website.
    4 Accounts work
    • AdventureWanted
    • By AdventureWanted 5th Feb 18, 7:15 PM
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    AdventureWanted
    Have made a £5 payment to CC2 today.

    Have had a lovely day today, although has been quite spendy. Went to our favourite garden Center today and had to spend £10 on their annual membership. The £10 gets us 2 free drinks every month, discount at the store and 2 for 1 vouchers for the restaurant. Whilst there we made use of our free drinks and 2 for 1 voucher and had a bite to eat. Spent about £15, which wasnít too bad for 2 scones & drinks for kids and 2 smallish fry ups for me & DH.

    To do this week:
    1 Need to double check my direct debits/standing orders this month and increase a couple of my savings payments. done
    2 I had a renewal letter for tumble drier insurance DH took out which I dont want (gone up to £4.50 p/m). Need to phone them to cancel it. Have cancelled DD but still need to phone them.
    3 Change reference details on banking for CC2 so I can make direct payments rather than making online payments via their website. done.
    4 Accounts work
    5. Phone Tesco - 10p off a litre of fuel voucher was missing from delivery
    • savingholmes
    • By savingholmes 5th Feb 18, 8:31 PM
    • 8,839 Posts
    • 16,672 Thanks
    savingholmes
    Just caught up on your journey. Definitely obsessed - I can be like that when I'm on track - but the results are worth it. Congrats
    Today is a new day £1311/280 £10 a day Feb Challenge
    • AdventureWanted
    • By AdventureWanted 7th Feb 18, 7:05 PM
    • 361 Posts
    • 1,163 Thanks
    AdventureWanted
    To do this week:
    1 Need to double check my direct debits/standing orders this month and increase a couple of my savings payments. done
    2 I had a renewal letter for tumble drier insurance DH took out which I dont want (gone up to £4.50 p/m). Need to phone them to cancel it. Done & also cancelled the DD
    3 Change reference details on banking for CC2 so I can make direct payments rather than making online payments via their website. done.
    4 Accounts work
    5. Phone Tesco - 10p off a litre of fuel voucher was missing from delivery Done -They are sending me one.

    Still have accounts work to do, so hopefully can do some in the evenings.

    Today Iíve rounded down the bank accounts sending £20 to CC2 and 70p to the emergency fund. Am quite liking sending the odd pence to the emergency fund. Itís quite nice to see it getting higher without too much effort.

    Has been a low spend day today. Me, DC1&2 all had haircuts today, which came to £18. Absolutely love our home hairdresser. It would be a nightmare going out to get haircuts for us all.

    DH is visiting friends today and at the football tonight, so i imagine heís having a fairly spendy day. (Thankfully it is out of his pocket money). Luckily he seems to be better recently with his spending and is more aware of what heís buying. Iím so relieved, as was getting really fed up with being the nagging wife!
    • charlies tribe
    • By charlies tribe 8th Feb 18, 10:52 AM
    • 619 Posts
    • 5,131 Thanks
    charlies tribe
    You are still doing really well.
    I need to sort out hair cuts too, and maybe hair dye for me.. i've found quite a few grey hairs.

    Have a lovely day.
    LBM in April 17 - £5835/£33554 (17.3%) paid.
    2018 PAID OFF TARGET £211/5000
    DFD: 1st May 2022
    SPC #591
    • AdventureWanted
    • By AdventureWanted 9th Feb 18, 1:56 PM
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    AdventureWanted
    Hi Charlies tribe, I had to dye my hair this week as I couldnt bear to look at the greys coming through any longer! I hate the process of dying the hair as it takes forever, but am pleased with the end result. Also this time I actually managed to buy the correct one (dark brown not darkest brown which I used last time and turned my hair black!).


    Was planning on updating my diary last night, but was so shattered from a pretty awful night with DC2&3 the night before that I ended up going to bed at 8.30! DC3 woke up a couple of times in the night last night and DC2 woke up again after having a bad dream, but think I managed to get more sleep than usual. I even managed to wake up naturally by myself this morning which never happens.

    Yesterday the £130 dd for cc4 came out and today I have managed to pay £100 to CC2 as DH was paid for some additional work.

    Today is NSD number 4 of the month. Hopefully I can achieve a few more next week.
    • AdventureWanted
    • By AdventureWanted 10th Feb 18, 10:25 AM
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    AdventureWanted
    So yesterday didnít end up being a NSD. Was doing so well until about 4 when I spoke to DH. He was having an awful day at work and sounded really miserable so I suggested getting a takeaway. The Indian we had was nice, but as soon as it arrived i regretted suggesting it. Luckily it only cost £18.20, so wasnít horrifically expensive but still.
    Weighed myself this morning and i have managed to put on 4 lbs over the last couple of weeks - really need to stop snacking quite as much, especially when I am stressed or bored. It would immediately reduce our groceries bill in the month. Also need to start exercising, as I know it improves my mood which would hopefully help with eating less and also losing a bit of weight.

    Have rounded down my bank account today and sent £9 to CC2 and 90p to the emergency fund.

    Current debt-
    CC1 - £0
    CC2 - £5,471
    CC3 - £10,700
    CC4 - £12,480

    Total debt at 10/1/18 - £28,651

    Emergency savings - £515.64

    Really not sure what to do with the EF. Maybe the money I put towards the EF each month should be put half towards debt and half to holiday savings/home maintenance. Then I could continue paying the odd pence in a bank round down to the emergency fund. Hmmm.. actually maybe I should put the next couple of months EF money to the home maintenance fund as DH wants to finish the decking in our garden this spring/early summer so will need money for that. Hopefully I can save enough before he orders it!

    Yesterday I had a chat with an old friend who has had a pretty rubbish couple of years. It really made me grateful for what I have. I think sometimes the debt level really gets me down, but in reality although it is depressing to think about we are paying it down and DH is currently being paid well for the work he is doing which is allowing us to make generous overpayments. Not sure how long it will continue, but I am really grateful for all of his hard work and that he is choosing to stay at a job he doesnít particularly like to earn extra cash. I really need to start thinking more about what I am grateful for. I think it would improve my mindset and hopefully de stress me a bit. Take last night for instance DC3 was woken up by DC2 and awake from 4, but although I am exhausted today I wouldnít swap them for the world.
    • AdventureWanted
    • By AdventureWanted 11th Feb 18, 7:56 AM
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    AdventureWanted
    Yesterday was NSD 4/15.

    Today I have rounded down the joint account sending £11 to CC2 and 58p to the EF.

    Today wont be a nsd as I have got food shopping coming. I have been so rubbish recently with meal planning so my food shops have been awful recently. I am hoping to make an inventory of all food in the cupboards, fridge and freezer so I can try and reduce the amount of shops I do for the rest of the month.
    • Treadingonplaymobil
    • By Treadingonplaymobil 11th Feb 18, 8:04 AM
    • 1,288 Posts
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    Treadingonplaymobil
    You are doing so well, and those overpayments are adding up massively.

    Are you going to keep building up your emergency fund, or are you happy with it at £500 for now? I really struggle with saving for emergencies when there is debt to pay off, and our emergency fund is always being raided before it can build up, but I would (in theory) like to get it up to £1k.
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 4th Jan 2018: £35,536.09/July 2026

    Mortgage = £193,995
    • AdventureWanted
    • By AdventureWanted 11th Feb 18, 11:49 AM
    • 361 Posts
    • 1,163 Thanks
    AdventureWanted
    You are doing so well, and those overpayments are adding up massively.

    Are you going to keep building up your emergency fund, or are you happy with it at £500 for now? I really struggle with saving for emergencies when there is debt to pay off, and our emergency fund is always being raided before it can build up, but I would (in theory) like to get it up to £1k.
    Originally posted by Treadingonplaymobil
    Iím completely in two minds about the emergency fund. My head says I should build up a really decent emergency fund of at least 3k asap, as DH is self employed (I work for him too) so if he is off sick, his current contract drys up or he goes on a training course we would have no income! On the other hand I really hate seeing the level of debt weíre at and desperately want it gone.

    CC2s 0% deal ends in July, so once that is dealt with (either balance transferred or paid) I will have until Dec 2019 to pay off CC3 and then I think itís Oct 2020 for cc4. This month I put £200 into the EF, so I could continue to pay that until July when I could change the amount saved/going to debt. I guess having it sitting in my savings account instead of going straight off a 0% card wouldnít be too bad (as long as I donít spend it!).
    • charlies tribe
    • By charlies tribe 11th Feb 18, 12:01 PM
    • 619 Posts
    • 5,131 Thanks
    charlies tribe
    Iím completely in two minds about the emergency fund. My head says I should build up a really decent emergency fund of at least 3k asap, as DH is self employed (I work for him too) so if he is off sick, his current contract drys up or he goes on a training course we would have no income! On the other hand I really hate seeing the level of debt weíre at and desperately want it gone.

    CC2s 0% deal ends in July, so once that is dealt with (either balance transferred or paid) I will have until Dec 2019 to pay off CC3 and then I think itís Oct 2020 for cc4. This month I put £200 into the EF, so I could continue to pay that until July when I could change the amount saved/going to debt. I guess having it sitting in my savings account instead of going straight off a 0% card wouldnít be too bad (as long as I donít spend it!).
    Originally posted by AdventureWanted
    I know seeing the debt go down feels really good but having a good emergency fund would also stop you having to reuse the cards if any of the situations were to happen, putting the debt back up.

    It's something i've done many times, paid every penny to the debt and then had to use the card when something unexpected crops up.
    LBM in April 17 - £5835/£33554 (17.3%) paid.
    2018 PAID OFF TARGET £211/5000
    DFD: 1st May 2022
    SPC #591
    • enthusiasticsaver
    • By enthusiasticsaver 11th Feb 18, 12:15 PM
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    enthusiasticsaver
    In your situation where you have no income and your DH is self employed then having a decent emergency fund is a must to stop you resorting to cards. Having the level of debt that you have means that the mentality of relying on the cards has to be halted if you dont want the debt to rise.

    Also the habit of spending (on a takeaway in this case) when things dont go right compounds your problems. Not only are you spending out of budget unless you borrow from a spending pot but you are also using spending money as a panacea to having a bad day which we all do from time to time. There is a strong link for many of us between state of mind and spending which essentially is unhealthy if you are in debt.
    Debt free and mortgage free and early retiree. Living the dream

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