The Golden Goose's Quest For The Golden Egg - AKA A Debt Free Life!

The_Golden_Goose

The Latest Update

A new year and a focus back on the debt.

Tallied up my cards and currently I am owing £14,338.75. My OD is, well, OD as usual and I seem to have more outgoing than incoming which is not surprising as I now work part time due to the Gosling.


CC1 £610.58 - 3.9% LOB
CC2 £3130.05 - 20.95%
CC3 £6763.10 - 18.9%
CC4 £2104.38 - 24.9% *eek*
CC5 £1703.44 - 15.7%

I've made a start and began to fill in the CCCS debt review questionnaire and you never know what recommendations and suggestions they come up with.

Not sure whether to try and BT some of the debt. CC2 are offering a SBT for 9mths for a low APR and I am not sure whether to do it. Its 4% interest yet I know I won't be able to pay it off in time. I am barely managing with minimum payments.

At the end of this month the car tax and insurance is all due. I will be shopping around and not staying with MrT unless they prove cheaper. I shall also check out Quidco.

I earnt £5+ recently on Quidco. I tend to use Quidco a lot more. I will also make use of the mobile app and check in at retailers to earn a bit extra. I also have let the Valued Opinions surveys slip. Simply have got out of the habit and don't tend to have the time. Will start to make the time again.

I know debt busting is not easy but boy can it be tough and soul destroying. Particulary when it's noone else's fault except my own. I think that's what gets me the most. If only I knew then what I know now. However, to be fair, I think in the back of my mind I did know. One of my priorities is to make sure the Gosling knows about money. How hard you work for it and how easy it is to waste.

Wishing all of you a wonderous New Year!

Til the next installment..........

mooomin

Happy New Year

Couple of things from me:

Could you post a SOA? We might be able to shave a bit off your outgoings

If you were talking about the Asda Price Guarantee thingie before (couple of posts ago, so probably months ago!) then check your Asda - ours has a wee laptop where people can check the website and print in-store for those without printers. I print them at work....ssshhhh!

Have you Ebayed everything that isn't nailed down? You should be able to sell old clothes used by the Gosling and get something back? Next clothes/M&S sell pretty well from what I understand.


Lovely to see you back

The_Golden_Goose

f_f you are so lovely you are.

Basically MrGG pays for everything - house, bills, food, the lot and I have to pay for my debt, my fuel, the gee gee, pay for nursery and usually I pay out for a bit of shopping here and there, I also pay for presents and stuff.

I think I simply don't earn enough. Not sure that I can even switch cards. Wouldn't be able to get a consolidation loan either, and I know they are not ideal anyway. Just so sick of the no money situation.

Secondly have nothing to ebay as everything we have we use/need.

Can't print at work as always got some goody two shoes looking over my shoulder. Yes its really that bad!

On the plus side I took lunch to work today!

Lurker1972

Happy 2012 GG, I echo F_Fs good to see you back

First things first, you need to give yourself a break - yes you spent money unwisely and are now paying the price. But your situation wasnt helped by months of unemployment - I'm guessing that your income hasn't got back to the pre-unemployment level which is hindering your progress. You said it yourself, you simply dont earn enough!!

I just went back to the start of your diary when you confessed to £24k debt so despite everything, you ARE making progress.

so...thoughts and ponderings....

with the exception of CC1, the interest rates aren't that DF-friendly.
have you looked & contacting the CC companies & asking them to reduce/freeze interest rates/ accept lower payments for a while to give you some breathing space? I know that my folks did this on a couple of occasions when they had financial problems (pre internet & MSE, I dont know how they coped?!!!:p)
While it might not be a long term solution, if you can reduce the interest rates it would at least mean that more of your minimum payment is actually reducing the outstanding debt.

Also, I know as well as you do that its not that simple, but have you looked for a different job? I'm not saying this for a purely financial reason, its more becuase you seem to dislike the job so much its sucking your soul out!!!
Is there an option to look for an evening job that would reduce the need to pay for childcare as Gosling & Mr GG could have quality bonding time?

You probably are at the all baby steps stage of the journey, so keep up with the NSD, taking lunch to work & sticking to your grocery budget, and you will get there.

:grouphug: & keep smiling

brizzledfw

Good words there Lurker, all very true

One thing I was wondering about Mrs GG

If it helps we sank into debt when our 2 were small(er) as we struggled with huge nursery fees, much lower income etc but in terms of my staying in the 'job marketplace' it was so worth it. It was temporary. It was for a purpose. Then I luckily went on to get much better paid jobs. Do look around though, it's easy to say that it's hard to swop jobs with a LO but if you can, it'll be great for how you feel but also as you say any increase in salary would really help keep you on the debt busting road. It's tough keeping at the debt busting week after week and year after year and maybe a pay rise and change of scene would make it easier to keep on focussing?

Sorry to warble on but hope just wanted you to know there is usually light at the end of the tunnel

Brizzle

brizzledfw

Or...set out a business case for about how much you bring to your organisation ( if they have flexible pay scales, I know this is harder in the public sector for example) how valuable you are and ask for a pay rise, even on a fixed term basis, or if easier, then an increase in benefits that have some value eg. holiday, pension etc?

The_Golden_Goose

The Latest Update

A rare chance to log on to MSE in peace. MrGG and the Gosling are still asleep. T'was the dawg who got me up early!

I completed the CCCS debt thingy and basically it tells me I need to do a DMP which is all very well however I do need a CC as I don't have enough cash for emergencies eg vet bills, car insurance! DMP says I'll be debt free in 9 years!

One of my CC's also sent me through an offer of an SBT for 9mo I think at 0% but then it shoots up to 20.95%. I was contemplating using it to settle me overdraft which is currently £110 over my OD limit. I know I can't repay the full amount in 9mo but the fees are crippling me as the last three months I've gone over my limit.

Badly need some new glasses as keep getting headaches but just don't have the money so not quite sure what to do about that one. Don't want to put it on a CC - as I don't have the PINs that almost takes care of that doesn't it. *doom and gloom indeed*

Sadly I can't change jobs as between you and me and the internet the Gosling is going to be getting a sibling this year. Should be able to go public with it in the next couple of weeks. Mum's the word peeps. Please not to out me! Looks like I won't be going back to work post maternity as childcare costs will prohibit it. I am slightly panicking about everything and wondering how we will survive. MrGG doesn't seem concerned and says we will be alright.

There is one Gosling activity that ceases soon and so that will help.

Secondly, I wish I could do an evening or weekend job but MrGG's work doesn't allow it, which has been a problem. MrGG has applied for an extra job that he could do when he is not working which would possibly be a bit of a saviour, though he has to have a successful interview first!

Are there any jobs I can do from home in my limited spare time? Ideally need something that doesn't involve a huge/any outlay.

Thank you lurker and brizzled for your encourgagement too. Think I will be spending more time on MSE as it keeps me on the straight and narrow *sound like a crim!* and keeps me focussed and motivated as I feel like I'm sat on a rollercoaster and I have no control whatsoever on anything. Everything is all happening automatically and taking such a long time which is why I think I am feeling helpless. The second baby is also on my mind. There is no way we could put it off as I am no spring chicken and we accept things will be hard with little geese to take care of but its what we've always wanted.

I was invited round to a mate's for a takeaway one evening though the date moved and I think I'll eat before I go if I do go. Have also been invited out for a meal with some ex-colleagues again, I think I'll decline. Sad life but have no choice.

Being made redundant really caused me huge issues and now I earn nearly two thirds less than I did then. I do have hopes to go back to a proper job in the big bad corporate world earning a good wage and feeling worthy rather than how I feel at the moment.

Til the next installment, which hopefully shall be a darn sight brighter! Wish me luck!

mooomin

The_Golden_Goose wrote: »

I completed the CCCS debt thingy and basically it tells me I need to do a DMP which is all very well however I do need a CC as I don't have enough cash for emergencies eg vet bills, car insurance! DMP says I'll be debt free in 9 years!

Read that again.

If you can't afford for anything to go wrong then you likely do need to get into a DMP sooner rather than later. I know nothing about them, but would think that you'll be allowed monthly money for animal bills etc. You could save small amounts with a friend/relative so you know you can't be tempted.

The car insurance isn't an emergency, it's a known annual bill and you should be able to have money for it each month/year. If you don't, the monthly costs would be part of your DMP budget.

Sorry to be harsh, but you need to realise that you're in a sticky situation and that there is a way out that isn't bankruptcy. If you keep using a CC you can't pay for then you'll be on the bankruptcy boards, and I don't think you want that

Congratulations on the new gosling news I think you should use the addition to your gaggle (See what I did there?! ) to really think about how you want to be living - scared of finances and constantly shuffling debt about or living on a strict budget (in DMP) but knowing that you're getting to the end of your debts and working towards being free of it.

Look at some of the challenges like the Frugal Living one or NSD Challenge to see if they can inspire you.

You can deal with things Goosey, but I'm worried that your lightbulb is only flickering at the moment not shining brightly. PM me here or on Facebook if there's anything I can do. Xxx

The_Golden_Goose

Food for thought there dear f_f. Thank you. I shall certainly harass, I mean, Pm you for advice or a stern talking to if I feel myself slipping.

My lightbulb is full on shining honestly. Need to decide how to best tackle the debt other than the minimum payments that are currently occuring. I may call the CCCS and have a chat to them. DMP effects everything doesn't it? Mortgage etc?

We've already changed a few things at home. Cooking from scratch and freezing the extras. Previoulsy we had quite a few ready meals. Doing no/low spend activities with the Gosling. No more coffee shop meet ups. Even got MrGG trained in the art of purchasing special offers at the supermarket. No takeaways, tho we haven't had one for months and it was a rare treat rather than a regular one. Got a friend who I meet up with every couple of months and we take turns to pay. Will stop that and change it to coffee rather than lunch/dinner out.

It's my OD that's bugging me and I don't want to increase it. Not sure its worth calling the bank as they will no doubt sell me something that benefits them more than it will benefit me which is of course the way business works!!

I will look at those challenges also and I shall be a regular on here again. As I need the kick up the butt and the support and to keep me sane.

In the meantime I need to crack on with looking into car insurance and the best policy/package I can get and doing a monthly dd rather than putting the whole amount on the CC as its a false economy as I've not been paying it off quickly.

Today will be a no spend day as will tomorrow as will Monday. Guaranteed.

mooomin

The_Golden_Goose wrote: »

It's my OD that's bugging me and I don't want to increase it. Not sure its worth calling the bank as they will no doubt sell me something that benefits them more than it will benefit me which is of course the way business works!!

You'll probably find that the bank won't increase it if you're getting charges anyway. If you can transfer it onto interest free as mentioned that might be the best plan. You then cancel it completely and figure out what's been sending you over the limit every month, as that to me indicates a possible budgeting issue.

Try taking money for food out in cash and only spending that each month. I tried that this month and have found it really helpful. I'm down to my last £12 (until Friday) and am amazed at how I'm making it stretch so I don't have to break in to any other budget.

Is your bank account with a company that you have no other financial links to? Remember that if you owe money on a loan/CC then they are entitled to take money from your current account if you're behind in payments. It's always good to bank elsewhere...