the maccas Debt Free Diary - 20K to pay in 18 months

themaccas

Hi taxi
Well done of those fantastic savings, it's amazing how moneysaving you can be when you start to disect your expenses, we used to pay full price for holidays and all the extras, no more though. This NY holiday is being done on the cheap though we are still flying British Airways and staying at a 4 star hotel in Manhatten. We have done it by booking independently choosing the cheapest days to travel, applying every discount we can get and even phoning the hotel in NY direct to negotiate the cheapest rate we can possibly get. All the 'extras' we are sorting as we go along and paying for as we book - in cash/vouchers. I still think the hoiday will have cost us more than we thought though - they always do. However what we have found is that once you start paying off your debts you get into the habit of checking how much money is in your account and questioning your purchases. This time last year we were nearly 40k in debt with not a penny in savings. This year we have discovered how relatively easy it is to increase our income by working extra hours/shifts/ebaying and the money earning has taken on a life of it's own. I don't want to give the impression it has been easy though because it is bloody hard work it's just that when you constantly feel inspired by peoples stories on here you just think well, if they can do it, I'll try to too......

themaccas

Hi Piglet
We can't wait to go either, you could use your 20p pot as a start for saving to go, once you have a focus for saving you'll feel inspired!

themaccas

I've been feeling all pleased with ourselves about our debt repayment but things could go rapidly downhill if we don't keep a handle on our spending right now. Ok I'm not talking BIG spends here just the £100 here £300 there, the sort that adds up and soon starts looking like £1000's:eek: and then you wonder what you have spent the money on. Last weekend I bought some new specs, I had budgeted for them and after looking all round town settled on some nice frames that cost £140 with lenses. I thought I looked great, unfortunately the specs didn't think the same and fall off at every opportun ity they get. They have these straight sides (a bit like oakley frames) that grip to the side except they don't and if they are tightened the pain where they rub by my ears becomes unbearable. So I have had to go and order another, different pair of specs today for work - will pay on Saturday another £139. I am soooo cross:mad: what a waste of money. That will have to come out of our savings.:mad:

The other news is that OH wants to start his own business when he leaves the forces in April 2008 so we are looking into all the expense that will bring but it is not going to be cheap I don't think. He is able to do most of the courses he wants at a very discounted rate or free before he leaves. However even with the 6 courses he wants to do it will still cost £2000. I know the price for all of them if he were to pay himself would be £10,500 but 2K is still a lot to find at the moment. Then there is all the start up costs.....I'm not sure about it, there is a lot to be said for being a wage slave:rolleyes:

mizmir

Hi themaccasJust come across your debt diary - wow! You are an inspiration. Our current debts aren't far off where you started - if we can do anything like as well as you have I'll be thrilled.Will definitely be coming back.

themaccas

Hi mizmir, thanks to be honest I am suprised as everyone else at the rate of our repayments I honestly am, one of the hardest things has been finding a balance of having a life and trying to pay off the debt as quickly as possible. I think we have found it but it has come with a guilt-ridden-conscience! Every extra purchase (that we could live without) is mentally and emotionally challenged, oh dear that hasn't come out the way I wanted but you get what i mean:o

mizmir

themaccas wrote:

Hi mizmir, thanks to be honest I am suprised as everyone else at the rate of our repayments I honestly am, one of the hardest things has been finding a balance of having a life and trying to pay off the debt as quickly as possible. I think we have found it but it has come with a guilt-ridden-conscience! Every extra purchase (that we could live without) is mentally and emotionally challenged, oh dear that hasn't come out the way I wanted but you get what i mean:o

Well it's reassuring to the rest of us that you seem to be managing to have a life - in spite of the conscience! The one thing that worries me is not being able to do anything and getting obsessed with money. I know we need to sort this out but I also know we won't if we can't have the occasional treat. I guess the secret is to budget for them - and then just go for it! :xmassmile

Seaxwyn

Hi Mizmir and Maccas

I know what you mean about feeling guilt over the smallest treat.

Sorry to hijack your threat Maccas but I just wanted to recount this story which has a happy ending:

I had an exhausting day yesterday and in the evening I was really tired and just wanted to sit down with a glass of wine and relax.

But our house is such a mess I can't relax here, so on a whim I took the youngest two children out to the local pizza restaurant and bought them an ice-cream and a lemonade each while I enjoyed a delicious glass of wine (a very rare treat for me these days).

We all enjoyed a really chilled hour together, with none of the usual squabbling, snapping and whinging that goes on. Even so, I felt riddled with guilt at the extravagance. But then, when the bill came, it was much smaller than I expected. We had not been charged for the kids' ice creams and drinks. I guess that as these come free with a pizza as part of a special deal, the till automatically charges 0.00 for these items, even if no pizza has been bought.

Sorry that's come out really long-winded, but it cheered me up enormously, it felt as if fate was blessing my decision to splash out on a totally unnecessary treat.

OK back to you themaccas!

themaccas

Hi seaxwyn, hey hijack away it's nice to hear your stories too! Wow that was a good deal so did you just have to pay for your glass of wine then? Well worth the trip out. I know what you mean about the guilt thing though, I had to make a decision earlier today about buying a bar of chocolate (46p) or paying a library fine (40p) and the chocolate won I'm afraid, I confessed to the librarian the reason I couldn't pay the fine today and I don't think she was too impressed:o

However whilst out doing xmas shopping with OH last week, we were sitting in a restaurant eating our meal and I was telling him all the reasons I couldn't possibly buy this lovely handbag I had seen in House of Fraser that was reduced to £32. It was too much, I didn't need it etc, etc. The bill came for the meal - £32! So if we had got a sandwich from BHS I suppose I could have got it but I still feel now that meal was a complete waste of money and an extravagence. For the same amount of money at least the bag would have been useful:rotfl:

Seaxwyn

Yes but the wine cost £4.95! And I gave the waitress £2 and a few coppers, just in case she'd deliberately undercharged us (though it seems unlikely). So total cost £7ish but worth every penny.

Sympathies re the handbag. But Christmas shopping is stressful (especially on a budget) - you probably needed to sit down and recharge your batteries. And maybe that handbag will be even cheaper in January...

jenchin66

themaccas wrote:

I had to make a decision earlier today about buying a bar of chocolate (46p) or paying a library fine (40p) and the chocolate won I'm afraid, I confessed to the librarian the reason I couldn't pay the fine today and I don't think she was too impressed:o

However whilst out doing xmas shopping with OH last week, we were sitting in a restaurant eating our meal and I was telling him all the reasons I couldn't possibly buy this lovely handbag I had seen in House of Fraser that was reduced to £32. It was too much, I didn't need it etc, etc. The bill came for the meal - £32! So if we had got a sandwich from BHS I suppose I could have got it but I still feel now that meal was a complete waste of money and an extravagence. For the same amount of money at least the bag would have been useful:rotfl:

:rotfl: :rotfl: I like your style