Jo_R's debt-free diary, slow and steady progress!

Jo_R_2

My brand new SOA...

Having a baby has made quite a bit of difference. As well as the increase in tax credits and child benefit, OH doesn't go out half as much.

Unfortunately have had to add benefits overpayments but these are interest free so not immediately pressing. All debts are being paid by monthly DD or SO by minimum payments.

The loan is mine so I hate OH having any responsibility, as does he as it was taken out mainly to pay off my ex's debts...:rolleyes::rolleyes::rolleyes:

Was thinking of splitting the surplus somehow but not really sure how or what is fair. Was thinking of us possibly having 'pocket money' each then splitting the remainder for debts... Any suggestions welcome!

Jo_R_2

Oh great! Just had a mini LBM and realised I should put my overdraft in my SOA shouldn't I?

*runs off to edit SOA*

beanielou

Well done on your SOA
You could divide the surplus by 4~1/2 to debt & 1/4 each to you & OH.
Or whatever you think.

Keeping_Positive

Beanielou's idea sounds good but I would save the first couple of months to ensure it is a true excess that doesnt get swallowed up. I would also add the £120 entertainment budget in to the excess equation,as you said your OH gets most at the moment.

Jo_R_2

Keeping_Positive wrote: »

Beanielou's idea sounds good but I would save the first couple of months to ensure it is a true excess that doesnt get swallowed up. I would also add the £120 entertainment budget in to the excess equation,as you said your OH gets most at the moment.

That might be a good idea as I know I have another bank charge (can't think if there's any others off the top of my head) coming out soon.

That's a good point about the entertainment budget. Being truthful I don't go out at all really at the mo (apart from going out for tea with OH yesterday, took baby to OH's mums and he cried the whole time so not doing that again in a hurry!) so it really is all for him save the odd takeaway, and at the mo that's not very often either.

I'll ask OH about it, I've done the legwork really but do like to know what he thinks, he's been very positive about it so far.

Jo_R_2

Felt all inspired this morning and wanted to get a diary, so i could mark everything down, dates DDs and SOs come out, when money has to be in account in order for payments to clear and when money goes in.

Unofrtunately after trekking down to the Post Office and then Asda, neither had any diaries so that put paid to that idea until I next get into town!

Darn it I felt sooo inspired too! Only plus is that getiting a diary this time of year means it'll be dead cheap!

Jo_R_2

Before I went to bed last night, I ordered a diary off ebay as I figured it would save the cost of a bus fare or parking in town as the postage costs were tiny - in fact I got a little diary with free p&p yay :T

Things on the whole going smoothly, not really much to do at the mo as regards sorting out money. What I can do is start to mark down dates for the diary, and whilst I have this time I was thinking of maybe taking on some challenges to generate a bit of extra cash towards debt repayments. I've already listed some things on ebay which look set to sell, but I keep seeing people taking on various challenges so I was debating starting one, the 'payment a day' one is one I'm interested in so I might read up a little more and try that one.

As usual my keenness means I want to dive right in but I'm restraining myself from taking on too much then not managing it and feeling disappointed in myself!

Am hoping to post a 'to do' list but that might have to wait til later (ah the irony!!!) as kids are running round and think baby is waking up..

Jo_R_2

Have sold one of my ebay items already, was pleasantly surprised to find out when I checked earlier! Woohoo!:j

Just having 10 mins peace sat on sofa with baby asleep on me and a can of Dr. Pepper (my fave) whilst the parents have taken both DDs to the park for an hour. Doing lots of daydreaming about DFW'ing and have decided to set myself a challenge to pay off my current smallest debt via ebaying.

It's a housing benefit overpayment which currently stands at £170 and I have a small stash currently in my Paypal account to start things off. It's more of a motivator as despite starting my DFW quest by paying off another benefit overpayment, I still have quite a number to go, even if a few of them are interest-free and relatively small.

I then plan to start DFW'ing hard by attacking the big debts and keeping that reminder of my motivation by transferring the amount I have been paying on my HB debt over to one of the bigger debts to overpay.

Hope that makes sense!

beanielou

Makes sense & sounds good to me

Keeping_Positive

Sometimes getting rid of a debt even if small is better than denting a larger one. Good luck.