Hold on tight . . .we are in for a bumpy ride!!

louisewh123

Hello all,

Thought this would be a really good idea for me and i need to share my little "accomplishments" as i have no where to express my joy! I wont bore everyone with the ins and outs of how we are in the horrible mess we are in. The short version is my partner owes around £70,000 which has been mounted up to due gambling. Gambling under control ( has been for over two years ) but the repayments arent! We pay out abot 700 a month which is hard but its slowly come down ( have been tackling for two years so have paid off a far wack already ) I manage all the debt, finances etc even tho the debt isnt in my name and i dont feel my partner should have access to money - its like keeping a load of vodka in the house with an alcoholic!

I work stupidly long hours ( 60 a week min ) as does my fella so we are trying really hard.

I used MSE around 18 onths ago to re-do my budget, learn how to make a chicken last 16 meals and how to clean everything with one bottle of cleaner and and old sock and have done really well.

We dont go out, i dont buy stuff, we havnet been on holiday for 4 years, i make gifts, i cook from stratch, i do online surveys, get cash back, shop around, sell on eBay ..... you get the idea!

I am know at the point where there is nothing else i can do accept knuckle down an get on with it.

I wanted to keep a diary and mark the "joys" i have. I have recently got one of the credit cards out of arreas and back to "normal" interest and no more charges!! YAY! so i am very happy about that.

My task for the next few months is to pay off my credit card ( £750 ) I thought if i managed to pay of something small and see i have actually done something then i will feel more posiive.

So my challange is to pay off the £750 by April which is going to a hard task as i i already pay off a lot of debt every month but i am going to really try and cut back even more and pay off this CC so i can give myself a big pat on the back!!

Wish me luck!

Lou x x

crispycornflake

Hi Lou,
wow your'e an insperation to us all, I am sure live up to your challenge and pay off the cc by april, good luck!!! :beer:

louisewh123

thanks crispy!! x x x

louisewh123

just had some point clear on ipoints so ordered a £10 asda voucher. Will spend on next weeks shop and pay the £10 off credit card!

lunar

Congratulations to your OH for getting the gambling under control, that must be half the battle won. Why dont you add your SOA, people might have ideas you missed.

louisewh123

thanks lunar, my SOA isnt straight forward as i own my own company and my income changes from month to month but the basics are:

I withdraw anywhere between 2000 to 3000 a month out the business as "wages"

2 adults 1 child part time ( OHs kid )

rent 525
car 325 ( on lease till october )
child maintenance 320
car tax 46
petrol 140 ( but we claim back miles through the company so balances out )
insurances 41 ( due to the large debt and business we have three policies )
nhs prescript 12
tv licence 12
gym 137.50 ( 3 people plus little ones swimming lessons - finishes in June )
council tax 98
gas/electric 98 ( work from home so % claimed back )
debt 700
My ccj 34
household 300 ( include cat, tolietries, cleaning, tobacco and food )

total 2678

and thats it - all phones, broadband etc goes through business accounts as does all travel and entertaining customers etc aswell as pensions blah blah blah

i dont shop, go out or buy anything lol

all clothes come ut of the "household" fund - is theres anything left each week a save it and when thers enough who needs something gets it. Normally the little needs clothes and hair cut! ( we have tried clippers - 3 different sets died within 2 months as his hair so thick and he look like nobody owns him!)

The only thing we will be cutting out is my gym memebrship in June, little ones will stay as he has swimming and thats the only thing i insist he has. Ohs gym membership will stay as he is overweight and the gym has been a savour to his helth and keeping out of the casino ( gives him a new addiction )

As we work so may hours we NEVER go out, i sometimes dont leave the house for days ( which is good for monay saving! )

Our monthly outgoings as above used to be 3900 so i have cut back loads over the last 18 months due to MSE and all the lovely people on here!

LeeSouthEast

Wow that sounds really, really tough. I wish you both the very best of luck!!!

louisewh123

thanks lee x x we are trying and will get there on day!!

lunar

Do you pay council tax over 10 months? if so you will have a extra £98 to throw at the CC for 2 months.

Does your partner have a wage, I wasnt sure from your post?

louisewh123

Hi Lunar,

I think pay my council tax over 10 months but i missed a month in Decemebr ( a huge cheque bounced from a customer before xams ) so its actually at £137.95 at the mo but i will give them a call tomorrow and check, thanks!

My partner works for the business too so that is our combined income. The business does ok and we are growing but we do invest in the business and things "pop up" from time to time. For example i managed to save a nice sum of money to pay off some of the overdraft them just before xmas. then ( on top of cheques bouncing ) my computer broke. ( we have online businesses ) then my partner add a little accident with his laptop. So we had to buy a new computer and a lap top! The laptop has been claimed on the insurance and of course we can claim the comp throgh expenses but its one and the same really - less money!

I also have my tax bill to pay this month from when i was self employed and a BIG tax bill to pay in July for the company. The July tax bill funds is currently on £0 so it all just gets a bit mad someimes trying to save for tax ( becuase we have drawn to much money out of the business in our first year ) pay bilsl, pay business bills and pay debt!!! God i am tierd just thinking about it! And as we live hand to mouth as far as business is concerned we never know what the next month will bring.

What can i say? Its all fun and games!

louisewh123

ok just called my CC and my balance is 821.00 - just paid off 50!

Yay for me, first payment made!