Deep breath.....

Loomie

Thanks everyone - at least it shows I was being brutally honest on my SOA and that actually I have been recording exactly what I spend not so it is a true reflection of what's going on.

In response I have halved my gifts/christmas budget and we're cancelling sky. I have emailed my family to suggest the challenge of £5 for gifts - so we'll see how they react! The entertainment and clothes bill is quite a lot but it was very much because we had birthdays and my sisters wedding which I had to buy new dress and shoes for. Hmm...I guess I didn't have to for the birthdays - that's just me giving myself the excuse. Groceries can be reduced I think and I like the idea of being veggie a couple of nights a week - hubby might have to get used to it! My daughter is in nappies which are expensive but we're about to start potty training so they'll go soon.

4 more items for ebay today and OH is selling DVDs and CDs today.

Thanks again.

PS I was cooking yesterday and managed to squeeze 3 separate dishes in my oven to save on energy!

Loomie

Whoop whoop! Thanks to Turnaround Sue I have spotted that I am not actually £13220 in debt but £11620.37!!!! Actually correct that to include my ebay today £17.48 and musicmagpie £72.73 to £11538.16!!!

Pollycat

Well done, Loomie.

Cancelling Sky and reducing your food, clothes & gifts spends should free up quite a bit more money for you to throw at your debts.

If you think that you don't have as much money as you should left over at the end of the month, try keeping a spending diary where you make a note of everything you spend.
Then you can see if you're 'frittering away' money by buying glossy magazines, cans of pop from the vending machine at work, expensive coffees and pastries etc.

Keep us informed about your progress.

josephine82

Hi Loomie

I would second the idea of a spending diary- it really helped me identify where I wasted money and what I really didn't need to buy.

Make sure that the cuts that you have made (presents etc) are being reflected in your payments to your debts.

Good luck!

Loomie

Started recording everything we spent in a spending diary since start of April so that's why I feel my SOA was accurate. It's really surprising how quickly small things that are only about a pound or so add up and eat away at your budget!

Feel quite proud because I'd kept a voucher for pull ups that I was given ages ago (expiry date not until Dec 2010) but that was unsuitable for my girl. Now it is relevant and I used it the other day to get £2 off!

Am setting myself some challenges:
1: 4 items listed on ebay each week.
2: Between now and end of May 6 NSD, then 10 a month
3: Cash 1 bag of coins at the bank each week.

Trying to keep them possible - my tendency is to be too strict or set the goal too high and then I can't achieve them.

Also now hubbie has his P60 he can claim the student loan they took even though he'd paid it off so that's £200!

Good news is that my Dad is in agreement with my proposed gift budget within family of £5 - not heard from the others yet!

Frugalchic

:jHallo Loomie!

Welcome to this wonderful site with equally wonderful people.

You will receive great ideas and ways forward from those who know what they are talking about.

Me, I've just joined and am really so moved by the kind responses I have had.

Many hugs xx

Loomie

Really annoyed today because I had to use the credit card for petrol and the NSDs seem really elusive. I feel that I spend a lot of time battling with myself - should I spend or should I not? Do we need it and I'm terrible at managing to justify things so our debt feels like it'll take forever. Feel a bit low about it all really.

Cloudy456

Hi Loomie. I have days like that too, very often! But don't let it get to you, you've made such a massive first step but staying on track will be the next and most difficult challenge. I find that this site is amazing for giving me a kick up the bum when I need it. And really, although a lot of people would disagree I'm sure, I don't really think about NSDs too much as I would far rather spend one pound every day for a week than nothing for 6 days and £50 on the last day! Its all about overall spending so don't beat yourself up when you've bought something that you need. Its not about stopping living, its about learning a new way of living - within your means. I totally know what you mean about beating yourself up (see my entry in my diary yesterday!) but its also important to congratulate yourself on the good stuff!

Loomie

Difficult day today as we've had to start using credit card again as we're about to run out of money. I just don't understand what we're doing wrong. Somehow we spend too much money. Next month I think I'm going to use cash only and maybe that'll help? This what we've spent on treats - my god it adds up doesn't it!
24.4.10 nandos 9.45
24.4.10 hen do 6.00
26.4.10 mcdonalds 3.49
28.4.10 cuppa at Discovery Centre 1.35
30.4.10 wine 4.90
1.5.10 returned 30 stuff -1.50
2.5.10 round of drinks 14.00
2.4.10 Next payment 20.00
5.5.10 cinema 7.30
5.5.10 chips 1.89
5.5.10 drink 0.43
7.5.10 pete night out 16.40
8.5.10 krazy klub 5.25
8.5.10 cinema 8.10
8.5.10 parking 1.00
8.5.10 chips/drink 2.38
12.5.10 tube return 7.20
12.5.10 train single paddington to newbury 18.90

Total 126.54

Then food is 141.77
Nappies is 25.95
Household is 50.65
Toiletries is 14.89
Dog is 15.28
Clothes for child is 34.00
Potty is 16.99
Hairslides and felt tips for child is 5.79
Petrol is 75.17

Any ideas for where I could cut back?

Help and support really appreciated

Pollycat

What's the Next payment for?
You don't have anything in your SOA for Next.

£14.38 on toiletries - was this 'expensive' things or budget?
Did you get a good deal i.e. bogof?

£141.77 on food in just over 2 weeks - that's less than your £396 per month in your SOA but was it a 'sensible' shop?

Is the £15.38 for dog food?

£50.65 'household' - what's this for?

Did your daughter really NEED the clothes you've bought?
And the felt pens and hairslides?

As I said in one of my earlier posts:

There's lots of areas that you could cut back on - I guess it depends on whether you're willing to suffer some pain now to be debt-free quicker or if you'd rather cut back a little but be in debt longer.
Cutting right back to the bone may put pressure on you as a family and make you all unhappy.

Only you can decide what you can all live with.
But there's no point in setting a budget that you can't keep to and then getting upset about it.