Financial faux pas and other disasterous decisions

moo2moo

This is a diary like no other. A diary in which I have hijacked no thread but my own. Although I have been guilty of hijacking several other diarys of late. Most notably Lula Hulas "The Quest" (sorry Lula!). One of my many New Years Resolutions was to start a diary thread all of my very own so without further ado I will waddle off into the deep recesses of my mind and start at the beginning. The dreaded lightbulb moment. Like a bad 1980s B-movie I'm going to rapidly transport you back in time to April 2008 when after 8 years as a stay at home mum we reached the point where month in month out our outgoings were more than our incomings. Not by a huge amount but over several years this racked up a fair bit of debt. Add to this a house extension and the imminent need for a new car and a complete roof replacement and something drastic needed doing.

Fortunately the solution was handed to me on a plate. A chance conversation resulted in a next day start to an almost full time job and life simply hasn't been the same since. For a start there are now 30 less hours in my week but more than ever seems to need to be squeezed into the remaining time. ike all these things the timing was legendary. The job started 3 days after the OH had departed for a 3 wek long holiday in the Sahara meaning that by the time he arrived back home the rest of us had adjusted to me as a working parent whilst to him it came as a huge shock and being a traditional sort of a fella he had a harder time getting used to the idea of me working than I did.

But then these things never ever go smoothly. Month 1 I started after the deadline for wage submission so wasn't paid. Month 2 something got screwed up at payroll so once again no wonga. Month 3 a recurring pattern forms. Still no money despite assurances that a cheque would be forthcoming. Many many more phone calls and visits to head office later I ifinally got paid 4 months money in one large chunk. Only to discover I'd been on stirke and had had several days deductions made. Got that sorted followed by a reduction in hours and not one but two back dated payrises. The mid boggles. The upshot of it all was that six months after I started I was doing fewer hours for more money. Our statement of affairs went from a monthly negative to a healthy posistive but we're facing a debt free date approaching 2030. Clearly thats not ideal so whilst I can't do anymore hours at work I can do plenty of other things.

moo2moo

I'll try anything once. I bingo-ed my way through all the free money bingo sites and am now doing the associated free daily scratchcards. I can't face the 3p clicks on Quidco et. al. Brownie points to those with the devotion to do it but it drives me nuts.

I've E-bayed anything uwanted, unused or generally in the way. I have a huge number of books on Green Metropolis. I have the added advantage that the OH gets lots of free books through work so I read them once and move them on. Green Metropolis is a new foray for me as previously I would have donated them to a local charity. After 3 attempts at E-baying any one thing it gets rehomed elsewhere. Currently I waiting for almost £50 from Music Magpie for a pile of unwanted CDs and computer games which we've accumulated over the past few decades.

I'm also signed up to around 30 on-line survey companies although I'm slowly cashing out of the more useless ones although some have taken me over a year to reach £5.

Qype Ninja - it seemed churlish to turn down a £50 Amazon voucher for writing 5000 words. I was a tad skeptical about the I-pod, the t-shirt and the pen stick but after a 2 month wait they arrived earlier in the wek along with an invite to write another 5000 words for a £50 Virgin voucher. 5 reviews down 45 more to go.

Quidco also features quite heavily in the plans. I've opened a couple of bank accounts and taken out all sorts of free trials and rerouted all my insurance policies through them.

moo2moo

My currant forays into the realms of frugledom are being met with grimaces by the OH and the DDs. Ok a freezer full of reduced turkey wasn't quite what I had in mind but it gives them all meat in their diet and halved my shopping bill. I've dropped a brand on everything and can report back safe in the knowledge that I will never ever ever buy Value loo roll ever again. I like my home comforts too much. The less said about Value coffee the better!

Next on the agenda is the reduction of the electricity bill. I've successfully dropped the gas bill by £22 a month but the leccy bill still stands at a whoppig £103 a month. No thats not a typo and no we're not in arrears. Thats the result of being an eco warrior. Solar panels require an awful lot of electirc pumps. Mind you two tropical fish tanks and a garden pond aren't helping matters much either.

moo2moo

Which brings me swiftly on to matched betting. I figured after reading so many positive posts on this I'd give it a whirl. It gives my brain someting to work on and it really can't be that difficult to figure out can it? Although I've had a few paniccy moments along the way they've all been delusional disasters rather than the real thing.

My initial deposits were £10 with bookie #1 and £20 with a betting exchange. ***Have since discovered that had I been referred the betting exchange would have given me £25 instead of £10 as an incentive. Must remember to check the referrals thread in future**

Results for the past week are as follows:

Attempt 1 - Result of wager 77p loss.
£15 Quidco
£10 free bet

Attempt 2 - Result of wager £9.76 profit
£10 free bet
**£29.51 withdrawn from bookie #1

Attempt 3 **£5 deposit with bookie #2
Result of wager 19p loss
4 x £5 free bet (one per week for 4 weeks)

End of week 1 : Deposited £35
Withdrawn £29.51
Outstanding to recoop £5.49

Quidco £15
Free bets to be used £20
Cash balance in accounts £24.29

All in all I'm surprised how easy its been. I've made a few mistakes along the way where I haven't quite understood what I was doing. I'll feel much more confident when I've recooped all my money and I'm just playing with the bookies free cash. But since I'm already in profit its not all bad. The hardest part is keeping everything small and simple. There are quite a few offers for £5 initial deposits but the vast majority are for £25 plus. At least at the £5 mark any screw ups I make are relatively small.

moo2moo

Next up is mystery shopping. I'd done the electronic variant before but the actual shop in person is a far greater memory test and pays much better too! I signed up at the end of December to coincide with the "If you had £10 how much could you make challenge" and being a lazy tart I've yet to do anything with under £10 return. Its too much effort for too little reward otherwise. Last week was a bit chaotic as I crammed in five. I won't be doing that again in a hurry. Hopefully I'll get paid for those next week.

My target as it stands is to overpay the debt by a minimum £700 a month with the exception of January when all the Christmas bills and the car insurance hit. I'll settle for breaking even then.

moo2moo

All of this brings me swiftly to today. I will place a matched bet to take advantage of my free £5. After that I have an enormous pile of ironing to get through. A tortuous birthday party in an indoor play centre this afternoon with DD2 but before that she has homework to do. Present was bought in the Tesco sale for £1.92 reduced from £8. I'm going to take a book to read just in case the other mums are in super mega stuck up mode. Not being a manicured mummy I don't normally fit in with the conversations about celebrities or botox or other girly things.

Scratchcards are done just need to dig out the camera to take piccies as I have around 80 home schooling books to list on E-bay and lots and lots of laundry to do. I also have 50 or so used printer cartridges to sell on for school funds. Must remember not to volunteer for quite as much next term.

pixiechick99

Morning!!
Just read your posts and you sound really motivated and organised;) I want to get started on the matched betting too, but just need to make that step and choose a first bet - bit scary! You've got going really well, good idea the small bets:p
Anyway, just wanted to wish you luck.....:beer:

needtopaymydebts

have just read your posts and am wishing I had as much as energy as you! I have signed up for mystery shop websites but have always got a bit frightened at the actual prospect of doing them as i've been self employed before and hated the tax return. It always seems to result in me having to pay tax on my mileage allowance from my 'proper' job so overall not really worth it... But... I really do need to find a way of earning some more cash. I loved withdrawing the money from bingo scratchcards the first time round but it's getting a bit tedious now! Anyway, good luck with the birthday party!

penguin83

Hey Moo - loving the new diary, you sound really focussed and organised - how is OH settling in with the idea of you being a working mum?

I can completely empathise with the other mum thing - I dont fit in at our daughters school as I rush off to work after dropping her off instead of standing around talking about home furnishings! It doesnt help that I am a lot younger than them neither!

DD is off to a indoor play centre this morning and we have had a present list given to us - for a 6 year old - oh joy of joys!

Have a great day x x

mooomin

moo2moo wrote: »

My currant forays into the realms of frugledom are being met with grimaces by the OH and the DDs. Ok a freezer full of reduced turkey wasn't quite what I had in mind but it gives them all meat in their diet and halved my shopping bill. I've dropped a brand on everything and can report back safe in the knowledge that I will never ever ever buy Value loo roll ever again. I like my home comforts too much. The less said about Value coffee the better!

:rotfl::rotfl::rotfl:I tried value loo roll once, never again!!

My freezer doesn't have anything in it at the moment that wasn't reduced. We're having organic pork for dinner today - £1.40 reduced in Tesco. All the mince in the freezer is reduced as well and I'm lucky enough to have parents who live up north and know people with their own crofts, so get free mutton quite regularly.

I have found that about 8pm is the best time for reductions in my local Tesco, but it does depend on getting someone to drive me there as the buses aren't reliable!

You sound like you're really motivated moo, keep it up :T

Different_Corner

Moo
I too love your approach ! Particularly your honesty.
I was actually relieved when my youngest started secondary school, no more playground cliques.
I gave up on match betting ages a go, I just don't get it, but you sound like you have it sussed.
Wishing you all the best with it and looking forward to reading it.