Thats another fine mess I got myself into

REDMADCURLS

Forgot that I hadn't posted this morning!!

Yes, will definately start 'looking' for Xmas gifts with the help of the lovely people in the freebies etc board!

Spent day doing this weeks accounts, can certainly see that back to school week has had an impact on sales!

As usual need more money that we have but sure, same old same old.

And most definately need to consider 'a big shop' - freezer is decidedly empty! Possible two more meals out of it and that is it!

Ebay ok - but bids for first time buyers which always makes me nervous. Need to do some serious listing tonight because I want to withdraw for football weekend, which in effect means I need to withdraw on 12/09/10, so I need sales to complete and be paid by next Sunday!

Woowoo

Wow your up to 100 pages Red!

REDMADCURLS

Oh Dear! 100 pages of my rubbish!

I should go back and re-read it - for a laugh if nothing else!

RumPunch_2

That's why I haven't worked my way through it yet. I'm saving it for a night when I've got lots of school work to do, I love avoidance activities! You'll have to do a summary for us newbies like somebody else did!

REDMADCURLS

Talk about wishing your life away - I am looking at next years budget and trying to work out a reasonable target to achieve in 2011.

I find that once I am paid, I want the month over and be able to start on next months payments - silly really

I would like to be below £30k by end of 2011, which does look realistic but I am very concious that business expenses are going to crop up and I need to allow for such things like a new van and replacing equipment. Also I don't include overdrafts in the total owing (primarily because they are at the bottom of the list for clearing, which may not be very sensible)

After the drama of the 3rd week in the month in August, I decided that once business debt is down to just the things I have committed to paying slowly but surely (I have two debts totally £3900 which I pay £140 per week off and another loan to business from my parents which I pay £200 a month too but have never included in debt) I would then try and create a buffer - i.e. reduce business O/D which is currently £5k. That is still the plan!

If the business could afford to pay our household income regularly and 'up front' as opposed to robbing Peter to pay Paul, it would be much easier to budget. One of the reason I have never done an SOA is because on paper it doesn't work, it never did simply because I could never be sure the personal budget would get anything from business!!

I am still not going to include loan from parents or o/d's in debt figure just yet. Not that I ever forget about them but because there is nothing I can do about o/d's because I need them to survive, however I am still determined to create that buffer, even if it means another few months of minimum payments only.

I am also wishing Sept away because it is the end of our financial year - as I may of mentioned previously business is up by a staggering 70% on last year and if this month is on target we will be 85% up on last year. Something I am delighted about given that we are in a recession etc. However, (isn't there always a however) we now need to focus on costs. I am sure there is something we can do about that............especially since VAT increase is coming and of course, prices will go up to cover this and more.

Nett profit is poor, simply because we are putting all income into debt so on paper we look very poor but then again we are in less debt. The business nett profit will not be good next year either because it is going to repay 'us' all the money (credit card debt) we put in in the first place..................oh if only we could go back and create business MSE way! But since we have no intention of moving or borrowing more money the books don't necessarily need to look 'good'.


LOL I feel like I have just presented to the Dragon's Den........................

As always getting it out of my head on onto my diary helps!

REDMADCURLS

RumPunch wrote: »

That's why I haven't worked my way through it yet. I'm saving it for a night when I've got lots of school work to do, I love avoidance activities! You'll have to do a summary for us newbies like somebody else did!

Summary

PANIC - Massive Debt

PANIC - How are we going to ever pay this back

CALM - Those who have dedicated their lives to the St Martin Way showed me the path to true enlightenment

PANIC - Its not working!

CALM - Worked it out again with help of snowball and being honest

PANIC - its still not working

DESPAIR

ACCEPTANCE - It will work, give it time

There you go...........now you don't need to bother with all my waffle inbetween!:D

Herewego

Wow you have been busy this afternoon but if you have a plan in place i think its easier to stick to it. I have no doubt that you will get it below £30k as you have managed to reduce your debt this year and hopefully charges will now become a little less as debt reduces.
Have been thinking maybe a challenge is due as I have come to a standstill on making extra cash and I would love to beat my end of year target.

REDMADCURLS

Well as I said earlier, I am in ebay heaven tonight (aka the spare room) because I need the money for football weekend.

I have to list 20 items tonight, minimum.

In fact there is no reason why I have not already started the most boring task in the world..........oh yeah, I don't want to!

Woowoo

It's not waffle in between Red it's us getting to know what a lovely person you are!

REDMADCURLS

Awh bless, thanks Woo xx:)