I'm tackling my debts in 2010

Radish72

emmie26 wrote: »

June Summary

Overdraft 1 [STRIKE]£120 [/STRIKE] £0 :T
Santander [STRIKE]£1898[/STRIKE] £1500
Barclaycard [STRIKE]£4702 [/STRIKE] £4202
Car Loan [STRIKE]£610[/STRIKE] £472

Total Debt [STRIKE]£7330[/STRIKE] £6174

Amount Debt Reduced £1,156

Total debt Repaid 2010 £6,476

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:T:T Hooray the debt outstanding is less then the amount repaid

Downhill from now on

InaPickle

Radish72 wrote: »

:T:T Hooray the debt outstanding is less then the amount repaid

Downhill from now on

Ooh...I hadn't noticed that. Silly Pickle, and good Emmie!

That's brilliant: those numbers will really seem to fall fast now, I bet. x

emmie26

Well I hope it does seem to go fast although I doubt it this is the most expensive half of the year, we have the school summer holidays where we will end up spending lots of money entertaining the children, followed by the new school term where we will need uniforms etc, we also have the car MOT, tax and insurance due in november and of course who could forget the lovely but expensive christmas, whats most worrying is that we have not been saving for any of these things :eek:
I need a plan and I need one fast for how we can keep debt repayments at the same level whilst also paying for all these things, any ideas?

I think a couple of 'cold turkey' months are in order again, where we literally cut right back to nothing and put the saved money aside to pay for everything that we need. Of course August is not going to be a cold turkey month due to aforementioned school holidays but I thing september and october are looking good we will have to really get our act together and sort out how we can save and make some cold hard cash.

I am going to have to say yes to every available shift at second job, if I do 4 six hours shifts I pick up about £250 after deductions, so if I could get a couple more that this every month then being debt free in 2010 is doable.

Herewego

Free picnics at the park are the order of the day for you. How old are your children ?

emmie26

my children are 3 and 5, so to be honest they are quite easy to entertain and would be quite happy with a day out at the park, especially if we invited friends along as well, I'll have to be really organised and try and sort out what I can do each day. We do have the merlin annual passess so we can always go along to alton towers even if its just for the morning. Our big summer holiday is a camping trip to windsor so that we can get our moneys worth out of the merlins passess and visit thorpe park, legoland and chessington, plus have a day out in london as there are quite a few attractions we can use it at there and I really want to go to the natural history museum. Total cost for camping £110, even if we spend £200 on food and travel when we are there that is a damn cheap summer holiday:D. We are also a member of a really good gym which has loads of things for the children during the holidays so I will have to look what they can go to.

I think what I am going to do is put every bit of spare money now in a savings account rather than pay off the debts and then whatever is left after the car has been mot'd, taxed and insured (which probably won't be much) can go on the debt's. All our debts are 0% now so it doesn't matter if we pay them off any sooner really as long as santander is clear by the end of the year and the barclaycard is clear by next June.

emmie26

well I feel very frugal, I've been going to tesco regularly at about 6pm and finding loads of bargains, today I have had two hovis loaves for 25p each one for the freezer and one for the lunchboxes tomorrow and loads of reduced fruit again this would be able to go in the lunchboxes tomorrow, only spent £10 and got two bags full of stuff.

Hubby has found out today that for the forseeable future he has got to do 30 hours overtime minimum a month, he was not too chuffed about this but I am over the moon, with my overtime which is averaging about 30 hours a month and his, it should mean a bit of a boost to the old coffers.

The new settee is arriving tomorrow I really can't wait!:T

InaPickle

emmie26 wrote: »

well I feel very frugal, I've been going to tesco regularly at about 6pm and finding loads of bargains, today I have had two hovis loaves for 25p each one for the freezer and one for the lunchboxes tomorrow and loads of reduced fruit again this would be able to go in the lunchboxes tomorrow, only spent £10 and got two bags full of stuff.

Hubby has found out today that for the forseeable future he has got to do 30 hours overtime minimum a month, he was not too chuffed about this but I am over the moon, with my overtime which is averaging about 30 hours a month and his, it should mean a bit of a boost to the old coffers.

The new settee is arriving tomorrow I really can't wait!:T

Well done on the food bargains and although the money will be great for you, I feel for your hubbie as 30 hours ENFORCED overtime is a lot, Still, silver linings and all that...maybe someone is looking after you.

And what setee, missy? I don't remember reading about one...or do I? *Scrolls up through posts to see what she can see*

Radish72

Inapickle - she did confess to this purchase, her excuse was the other one was to old and full off "liquid"

Hubby will enjoy sleeping on the new sofa after all his extra hours at work , and with your extra shift you'll be fighting him for it (remember not to get in the habit of thinking all this extra money is forever it could go as fast as it was enforced). But this will hopefully help a lot with Christmas etc

emmie26

Pickle I definately did confess but it was lots of sleeps ago, I still haven't brought a dining table either I am being very :A, hubby is still trying to get out of doing the overtime he has stated every excuse even resorting to childcare issues, I do feel a bit sorry for him because he is going to be doing all these extra shifts all through the summer when the children are off school which isn't good.

I don't think we will rely on the money too much cause we don't really see a great deal of difference because all the deductions go up as well including student loan but what little extra comes in will be much appreciated.

emmie26

well yet again it has been a while and unfortunately I have lots of confessions to make, I have really not been very MSE lately.

1. I have brought a dining table we saved up two months worth of household money we have £200 budgeted each month and we brought a beautiful table from IKEA to be honest it was really cheap but it has finished off the living room finally!

2. This month our debt repayment money has had to go on car insurance which is not good especially as we have paid about the same amount on confession 1, I realise that this was really bad financial planning and we are determined to save for it starting now.

3. As we have had the dining table we have been having people round for meals almost every other day, last weekend we even had a full dinner party 'come dine with me' style, hence our food budget has been completely blown.

4. I have done no extra shifts this month.

5. We are due to be taking the children for a week of camping at the end of August and we have no money saved or budgeted for this.

All in all a bad month and I am determined to start posting again now as I realise the correlation between the lack of posts and the lack of financial sense:o

I do have some plans for how we are going to pay the debts off before the end of the year but I will keep these to myself until they are definite.