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  • FIRST POST
    • puddle_duck1
    • By puddle_duck1 28th Jan 18, 4:47 PM
    • 9Posts
    • 14Thanks
    puddle_duck1
    Puddleduck's Adventures
    • #1
    • 28th Jan 18, 4:47 PM
    Puddleduck's Adventures 28th Jan 18 at 4:47 PM
    Well hello there.

    Little background to my story.

    We have not been in debt for about 10 years. We saved and had a nice life.
    We decided to sell our home and buy an older house in a more rural area, this is where the problems started!

    All our savings and now our massive debt has all been to renovate this house. SO much more than anticipated!! In fact if we had known there was so much work here we probably wouldn't have bought this house.
    The house is finished and it's lovely, everything is new ( house was gutted and inside rebuilt). So we don't have to worry about anymore building work for (hopefully) a long time. I will go into the amount of debt in the next post later on. This house is a lot bigger and we can't really justify buying nice things whilst the debt is so big. So it still doesn't feel like a welcoming family home.

    So just to end, this renovation has crippled us and we are both in the mind set to sort it out quickly as we both in our 40s. I'm here to keep strong and to be influenced by you lovely people.

    More to follow later on this evening.

    Puddle
Page 1
    • beanielou
    • By beanielou 28th Jan 18, 7:09 PM
    • 50,499 Posts
    • 192,938 Thanks
    beanielou
    • #2
    • 28th Jan 18, 7:09 PM
    • #2
    • 28th Jan 18, 7:09 PM
    Happy shiny new diary
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • puddle_duck1
    • By puddle_duck1 28th Jan 18, 8:50 PM
    • 9 Posts
    • 14 Thanks
    puddle_duck1
    • #3
    • 28th Jan 18, 8:50 PM
    • #3
    • 28th Jan 18, 8:50 PM
    Beanie Thank you xx

    OK so debt is as follows:-

    £21,150 3% tesco bank (£335 a month but pay extra £50 to this)
    £7,192 3% Zopa (£133 a month)
    £4,800 parent loan (£200 a month)
    £1,350 overdraft
    We have no credit cards
    Total = £34,492

    Wow that's huge!!

    So that's £718 a month on debt. Forgot to say we also go into our overdraft last month it was £1,350 .
    Will add to the total now.

    Income into house on a typical month is £3,666
    All direct debits come to £1941 that's all loans, gas, electricity, BT, mortgage etc
    Petrol £200ish (2 cars)
    Groceries £300 (is this high for adults and 1 child?)
    The rest is ?? Started to write down everything we spend on day to day.

    I take lunch to work (I'm too lazy to wait in the queue to buy something, I only get 30 mins)
    Little one has school dinners £11 a week
    DH tries to take lunch but fails sometimes.

    Sorry if I'm rambling and this is a little all over the place. I'm typing as I remember things.

    I have just looked at the overdraft and we knocked £300 off it this month. We also had lots of annual bills in January (my car tax, carinsurance, professional 6 month money) all that came to £400! So that would have been £700 off the overdraft if we didn't pay those!

    We also need furniture, pictures, nice things to make this house look and feel like a home.

    Gosh I'm tired now......
    Last edited by puddle_duck1; 28-01-2018 at 8:56 PM. Reason: spelling
    • DancingUnicorn
    • By DancingUnicorn 28th Jan 18, 9:15 PM
    • 148 Posts
    • 551 Thanks
    DancingUnicorn
    • #4
    • 28th Jan 18, 9:15 PM
    • #4
    • 28th Jan 18, 9:15 PM
    Hello, happy new diary!

    I would recommend that alongside paying off your debts you start an emergency fund aiming for around £1,000 as soon as possible. This should help in case of unexpected emergencies and stop you from getting deeper into debt. Mine isn't anywhere near £1,000 but has already proved itself to be useful when I needed new tyres.
    Are your parents willing to pause debt repayments while you get everything else a little more manageable? That overdraft wants paying ASAP.

    Definitely, write down everything you spend over the next month or so and highlight it as an essential or non-essential spend (I find that this helps me to stop spending as I don't want to admit to myself I keep buying non-essentials!). Once you have a clearer picture of all your spending, create an SOA (http://www.stoozing.com/calculator/soa.php) from which I'm sure lots of lovely people here will help you to find ways to cut back.

    Keep up the debt-busting
    LBM: October 2016: £20,130 / Current: January 2018: £17,320 13.9%
    DFD: February 2024
    SPC#577 (2017: £60.58)
    • redofromstart
    • By redofromstart 28th Jan 18, 9:34 PM
    • 1,105 Posts
    • 6,754 Thanks
    redofromstart
    • #5
    • 28th Jan 18, 9:34 PM
    • #5
    • 28th Jan 18, 9:34 PM
    Happy new diary puddle duck, I know what you mean about the house thing. I always describe ours as 'fur coat, no knickers' as it looks lovely from the outside but inside has a long way to go.
    • puddle_duck1
    • By puddle_duck1 6th Feb 18, 1:05 PM
    • 9 Posts
    • 14 Thanks
    puddle_duck1
    • #6
    • 6th Feb 18, 1:05 PM
    • #6
    • 6th Feb 18, 1:05 PM
    Thank you guys for your replies.
    Yes we need an emergency fund which we will concentrate on once the overdraft has gone. It should be gone in the next 2/3 months. Myself and DH have sat down and we are both totally on board with this. We have already taken £700 off the overdraft.
    I have told myself to only buy small things for the house to make it homely until we have a little more leway. So I bought a potted plant for £3.50.

    Have been catching up on general cleaning and tidying the last couple of days. I have a couple of days off work and enjoying the time to regroup.

    Just looked at our tesco loan and it's actually £20,373 so I'm pleased with that.

    I have been doing well on prolific surveys and waiting to do a few more to get me to £100 then that can go on the Zopa loan I think. Been putting money in my piggy bank since new year and now have £26ish in there. Trying to save that for Xmas. Little steps!

    I need to update more often it really does me good.
    • puddle_duck1
    • By puddle_duck1 9th Feb 18, 11:29 AM
    • 9 Posts
    • 14 Thanks
    puddle_duck1
    • #7
    • 9th Feb 18, 11:29 AM
    • #7
    • 9th Feb 18, 11:29 AM
    Still doing well. I have had a few days off work and caught up with lots of things.

    Ironing up to date
    house tidy
    house clean
    organised finances

    Elec/gas company owe us £100 as we have been in credit so that is now on its way to our bank. £100 from prolific (since Xmas, had a few big ones) on its way also.

    Lovely day today I need to get out. I need washing (clothes) liquid as the one I'm using at the moment is awful. Not cleaning the clothes properly.....not really MSE as they have to go back in the wash.

    Head is organised and bring it on!
    • puddle_duck1
    • By puddle_duck1 9th Feb 18, 8:50 PM
    • 9 Posts
    • 14 Thanks
    puddle_duck1
    • #8
    • 9th Feb 18, 8:50 PM
    • #8
    • 9th Feb 18, 8:50 PM
    £65 on its way from quid Co, from a car insurance 6 months ago.

    Used a gift card today that has been in my purse since Feb last year for a wellknown Pizza place £20.

    Rock and roll!
    • puddle_duck1
    • By puddle_duck1 10th Feb 18, 9:03 AM
    • 9 Posts
    • 14 Thanks
    puddle_duck1
    • #9
    • 10th Feb 18, 9:03 AM
    • #9
    • 10th Feb 18, 9:03 AM
    Morning Diary.

    Looks like a damp day today so a little bit of tidying up then dinner up the inlaws.
    Nice to get out have spent too long indoors this week, I'm not used to it and feel lazy!
    It takes 50 min to get to in laws and the drive is really pretty so looking forward to it.

    Better go and get dressed, having a lazy morning, nice not to do school run.

    Buy for now
    Puddle
    • MeenaM
    • By MeenaM 10th Feb 18, 10:41 AM
    • 176 Posts
    • 370 Thanks
    MeenaM
    welcome like the name!

    first thing is write a budget before you spend the money, tell your money where to go and you will feel like you got a rise
    Sealed Pot 11. #199Next£1170Barclays Credit Card £4891.20/4458.95- 0% ends April 2019 virgin 0% ends july 2020 £4138 4013.20AA Credit Card £860 0- 0% ends Dec 2017 Sainsburys Credit Card £521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund £360/£1000
    • puddle_duck1
    • By puddle_duck1 13th Feb 18, 4:21 PM
    • 9 Posts
    • 14 Thanks
    puddle_duck1
    Thank you Meena I will need to sort out some form of spreadsheet type thing.

    Nothing much to report. I have a cold. It''s not that bad just making me feel tired.

    Got rid of some clutter the last few days. Bought some Daffs (probably shouldn't have) £2 for 2 bunches.
    I've put 2 items on eBay - I keep getting messages to sell one item as buy it now but will wait the auction out I think.

    Just got home from work, finished my cup of tea.
    Wash load in and thinking of what to do for food.

    Will be back on here later once little ones in bed.

    Take care

    Puddle duck
    Last edited by puddle_duck1; 13-02-2018 at 4:25 PM.
    • puddle_duck1
    • By puddle_duck1 13th Feb 18, 4:26 PM
    • 9 Posts
    • 14 Thanks
    puddle_duck1
    Forgot to say Happy Pancake Day!
    • puddle_duck1
    • By puddle_duck1 14th Feb 18, 8:21 PM
    • 9 Posts
    • 14 Thanks
    puddle_duck1
    Happy Valentines Day !!!10084;!!!10084;

    We had a lovely dinner for the 3 of us. Lights out, candles lit, water from wine glasses and heart shaped plates (from years ago). Daffs on the table also. It was lovely even the little one loved it. Better than an expensive night out.

    We are doing well this month. Pay day is in 9 days time and we are £480 in the overdraft which is £800 better than this time last month so if we can keep to the minimum of everything.

    Having a relaxing evening and waiting for 'Trauma' 3rd part to start on TV.

    Puddle
    • MeenaM
    • By MeenaM 15th Feb 18, 9:08 PM
    • 176 Posts
    • 370 Thanks
    MeenaM
    Well done you! that is good going on the OD , I must watch Trauma have heard it's good
    Sealed Pot 11. #199Next£1170Barclays Credit Card £4891.20/4458.95- 0% ends April 2019 virgin 0% ends july 2020 £4138 4013.20AA Credit Card £860 0- 0% ends Dec 2017 Sainsburys Credit Card £521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund £360/£1000
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 15th Feb 18, 9:27 PM
    • 925 Posts
    • 4,257 Thanks
    wishingthemortgaheaway
    Hi Puddle, just dropping in to say that, for groceries (food only) I budget £250 a month, which is about £50 a week, (I overpay any surplus into my mortgage)
    I have a £100 a month 'household goods' pot for cleaning products, cat food & litter, toiletries etc. I generally spend most of this. Stocking up on a big thing if there's money left towards the end of the month.

    Our household is 2 adults, 1 child & 1 cat. But the caveat to this is: Small is only 20 months old and hubby works away a lot, so there aren't many weeks I feed him every night.
    When he's away Small and I have left overs that I reheat in the microwave.
    The 100 payment countdown (each payment = £400) 2018 Starts at 13/100 o/s £34,750.
    Jan 18 14/100 o/s £34,400
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2025
    MFW 2018 Challenge Member #162 £124.36/£2,500
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