How do you do it?

I have been looking at this board for last couple of years as find it really inspiring but this is my first post on debt free wannabee.

I have noticed some people managed to pay off staggering amount of debt in short time and complete crazy challanges.

What is the secret? Is it cut back or earn more?

So far I have entered a few comps but think I need to enter more to increase chances was hoping to enter 100 a week!

I have done a carboot sale made 50quid, doing another next week and plan to list lots on ebay.

I have sold 2 prams recently but sadly most of money went on car tax.

Signed up for surveys but only made 2.70 and not been sent any in last week.

Was thinking of trying free bingo as matched betting looks bit complex for me.

I have had loads of bank charges not sure if can claim those@moment.
Lovley lady in baclays said if customers write to head office they sometimes get money back but im not sure how realistic this is now all courtcases are on hold.

Im only entitled to child benefot £80 currently getting and I think i can apply for child tax credit but due to hubbys earnings only £10 per week or £40 a month.

Am I doing all the right things? Is there more I could do.

We struggling with grocery budget at the moment, hubbys cars a money pit and got growing toddler who needs stuff.

I have recently made bold move of quitting my high pressure fulltime job as retail manager as once nursury fees and commute costs paid net income was £450 and I never saw my family.

My husbands earnings ok on paper but once loan,cards,bills, car, food and rent paid off hes got nothing left spare.

I have decided to set up my own business and have worked out i need to raise £430 to start up.Im also going to start being cloth nappy rep.

Im surviving on final pay packet which included bonus and hols and have enough income to last me august and september.

I have set my self the challange of £400 a month.

£180 nursury- Daughters 2half will get help when shes 3, hubby current gets vouchers through work so they take £160 ang give voucher for £243 so saves 80quid, have reduced her to one full day and one school day 9-3 as shes happy, has freinds and i can do housework and focus on business on those days.
£50 fone-orange contract may look into different tarrif
£30credit card payment balance £550
which leaves £140

I was going to try and survive on £25 week allowance for misc stuff like going on bus, getting paper or any clothes/books or top up food.

was then hoping to maybe save something too for xmas.

Im guessing 400generous as the 4000 a year challange is less @330 per month.

Hubby pays grocery bill out of his salary so dont have to include that.
When i was working i used to buy daughter anything she needed like clothes, shoes, presents ect.I would like to still keep doing this if possible.

We have done the cutback option too switched energy suppliers hoping scottish power not going up as much as british gas.
We have basic sky our one luxury as we rarly go out.
Downgraded our virgin broadband so bit cheaper woul like to switch but more pricey as need bt line installed.
We have set £200 a month for food which we currently struggling with for family of 3, im cooking loads from scratch, making my own bread, looking out for reduced and did try aldis which was good.
Thinking of giving up tesco as too pricey, we live in city so have choice of everything close by.

As for clothes I buy 2nd hand off ebay, in sales or primark/supermarket.

Like i say Once final pay runs out need to bring in £400 a month, will possibly get £120 from cb/child tax so got to make £280 a month is this possible? As eventually will run out of stuff to sell.

I still currently have lots to sell approx estimate value maybe bit optimistic is £800 but I need to make £1200 in the next month so I can start up business, and give me oct/nov income.

I am trying to make as many cutbacks as I can, I am prepared to get p/t job if neccssary but would rather earn from home.

Am getting quite worried about money especially with christmas on the way.
We have some small amount of debt to pay I have 550 on barclaycard and £1750 overdraft which would love to clear.
Hubbys got alone of £330 to pay a month which is quite high also hes got money on credit card used to pay for car and new washing machine.
Luckily my vespas paid up on insurance,tax until next year so just paying for petrol which is dead cheap as cant afford to run 2cars.
We would love to buy house as currently rent but cant as we have no deposit and want to clear debts first.

Everything seems to be going up is quite scary, we not extravagent people and hubby earns good wage but got nothing left to show for it.
Must say finding uk quite depressing latly.Some of my mate are really struggling.

Sorry for waffling just wnated to give full picture.:o
pad by xmas2010 £14,636.65/£20,000::beer:
Pay off as much as I can 2011 £15008.02/£15,000:j

new grocery challenge £200/£250 feb

KEEP CALM AND CARRY ON:D,Onwards and upward2013:)


  • jenjade
    jenjade Posts: 8,418 Forumite
    First Anniversary Combo Breaker
    the main tip is to cut back on the spending and up the income. there is no get rich quick way to do it. look at the up your income board. and don;t just spend the extra month put it somewhere safe or pay it straight off the debt.

    i have paid off loads in the last few months. i checked all my bank standing orders and direct debits and was able to save myself and extra £30 every month!

    might be handly to post a statement of affairs SOA to see if there are any areas to cut back?
    i sold loads og things did a few car boots, local papers e bay etc! to make a couple of hundred extra and now i think before i buy.
    post a soa and we will have a look for you
    :j Proud mum to Jade age 10 years and Baby Ellie born Christmas Day:eek: with a broke heart :( Proven to be a little fighter and battling on with her heart condition :j
  • wornoutmumoftwo

    I'm pretty new to money saving myself but it sounds as if you're on the right track.

    You could check out to ensure you are receiving all the benefits you're entitled to though.

    With virgin I have TV/2mb broadband and freeview for about #20 a month (I'm a long term customer but rang customer relations and complained all the new customers were getting the best deal so I'm saving 30 a month as have talk unlimited too).

    With Sky I have read of people ringing and threatening to leave only to get their bill reduced but don't know how true this is.

    We are a family of four and I spend nomore then 50 a week on food, I try not to cook meat every day now as that costs money, I am a tesco shopping with a clubcard plus card as get double points which comes in handy at christmas.

    If you're getting insurance or anything go via a cash back site I"ve clocked up 200 this year.

    Ebay is great but I shop mostly at charity shops

    Xmas - check out the hamper section on here, some people make great gifts for very little money,

    I'm sure the experts will be along shortly to advise you

    Best of luck
    Payment a day challenge: £236.69
    Jan Shopping Challenge: £202.09/£250
    Frugal Living Challenge: £534.64/15000
  • gailey_2
    gailey_2 Posts: 2,329 Forumite
    First Anniversary Combo Breaker
    Thanks for replies pretty much what I figured but we done the cutting back so earn more it is but need to invest in my business to get income coming in.
    Hubby has already switched everything we can think of from utilities to insurance, we locked into contrcat with sky and virgin.

    Hubbys salary pays for rent, bills, car and his outgoings so I was just need to ern money independant of hubby a sonce paid not much left.

    I have checked entitled too but Hubby earns too much £34grand gross but really once everyday living costs paid car,bills, rent, child maintainace, food, loan nothing left! We both need to be working over 16hours to get working tax which even when i was working think was £10 per week apart from child benefit not entitled to anything else.

    Does make me wonder what someone does have to earn these days to be well off.

    Will keep up the selling and see if i acheive my ambitous goal.

    Is i too late to live on grand a year challange? My join the mad ebay challange.

    Hampers good idea, will try charity shops maybe got some bargains @carboot the other week.
    pad by xmas2010 £14,636.65/£20,000::beer:
    Pay off as much as I can 2011 £15008.02/£15,000:j

    new grocery challenge £200/£250 feb

    KEEP CALM AND CARRY ON:D,Onwards and upward2013:)
    NW-ANGEL Posts: 299 Forumite

    With Sky I have read of people ringing and threatening to leave only to get their bill reduced but don't know how true this is.

    yep we rang up - they said if we kept it we could have free phone and internet - so we did our figures and was cheaper than the bt tariffs we had so accepted!
    oh and we have setanta and they called asking if anything they could do blah blah hubbie said well if its free then youll do me a favour - they reduced from £15 a month to £7.99 a month - they said you can ring up and all new offers are valid for present customers!

  • Idiophreak
    Idiophreak Posts: 12,024 Forumite
    Combo Breaker First Post
    gailey wrote: »
    I have noticed some people managed to pay off staggering amount of debt in short time

    You do see this a lot...but often what you find is it's high earners that are given the most credit in the first place - so they often have the highest debts, but the most capacity to sort it out once they have their lightbulb moment :)
  • Cleosmum
    Cleosmum Posts: 2,673 Forumite
    First Anniversary Combo Breaker
    Join the august grocery challenge on the old style board, starts today! You will get lots of tips there for cutting back too. My budget for the month of august is £210 and thats for 2 adults and 3 children. I buy lots from Tesco, as its usually cheaper for me and I buy milk and fresh fruit and veg in Aldi. If you can buy milk and bread to freeze you will find it stops the popping to the shop for bread and spending a tenner thing that often happens.

    Why not pop your SOA on here and we can see if there are any areas in which you can save, amazing what a fresh pair of eyes can spot :)
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