New start to clear our debts

the_gorgeous_one

I have been spurred on by reading other peoples DFWn diaries to make it a bit more official. Due to OH selling some 'toys' we were able to pay off some loans but still have too much month left at the end of the wages. I have also been trying to pay things off starting with the smaller silly bits that seem to go on forever with small payments but big interest rates. I was also spurred on by the sealed pot challenge that I read about last christmas. I opened mine tonight and have £225.67 to spend on christmas presents. This was an excellent surprise as we have been skint for the past 3 weeks and it would have been so easy to open it but it would have disappeared. Tomorrow I am going christmas shopping and on Friday I get paid. I don't think the money will cover all the christmas pressies but it will go a long way. I plan to fork out for the remainder of the pressies out of this months wage as we get paid on 22nd December then its a long way to go to the January payday. I will try and get SOA and whatever else sorted out. One of the problems is myself and my oh are bad with money, I think I am a little better, he gets very bored and wants out of the house to the pub which I often see as wasted money. He will live for the moment so I get into the habit of sifting money away to try and make it last a bit longer, however he gets extremely stressed out when he thinks we have no money and is a pain to be around. On the other hand I also buy things such as craft items when I already have enough with the lame excuse that I will have it a long time whereas pub money only lasts 1 night. I need to control my spending in this area. I will often spend days with no money in my purse and spending no money then its a bit like being on a diet and I will binge spend. I plan to keep on reading these threads and working on the debt as its lovely to shake these old enemies off. IE the debt buddies such as loans, credit, credit cards etc. HFC always stand for Horrendous Financial Consequences to me, they have had more than enough money from me so I am so happy to have got rid of one payment recently and look forward to clearing the other one off in 2011 along with other debts. Sorry for the waffle but just trying to get things sorted out in my brain

the_gorgeous_one

I have tried to add a signature to show what debts I have that need to be paid, the two large loans are due to be paid off in 2013, so it would be nice to think we had no other debts to pay by then and we could start paying off our mortgage in preparation for our retirement unless we have to work forever, for now I am hopeful.

chevalier

Hi there
welcome to the boards.
Have you done a statement of affairs, so you get a true picture of your income and out goings?

Here is the link

http://www.makesenseofcards.com/soacalc.html

Ref the drinking/going out to the pub/crafting. Assuming you have money left over once you have done a budget, then if you can agree, have a weekly treats budget. Once that has gone it has gone, no secret cash machine withdrawals.... Would that work?
chev

the_gorgeous_one

Thanks this looks great, I will do it at some point but going to bed now. I keep saying we should have pocket money but we never get round to it, maybe this will encourage us to do it.

the_gorgeous_one

Well received our electric bill this month, what a shock. Bill was for 854.34 and they were increasing our payments from 73.00 a month to £260.00 a month. Extornionate, I contacted them and was told this was over a 5 month period to pay them back. After some discussion we have now agreed to pay £147.00 a month over a longer period. How can this occur and why was this allowed to get to this stage before they reviewed out payment. I get online bills and am not always looking at the bills. I will do in future. I will also be air drying clothes, swithching things off rather than on standby and unplugging things. I might even wash dishes by hand rather than use the dishwasher although he said this wouldn't make much difference. I will check the meter on a daily basis although since the phonecall I have checked it on a 10 minute basis. Just when you think you are going to get things sorted out something like this happens but why do they leave it before telling us, I know why so we owe too much to these companied and can't leave them as we can't afford to pay them the balance back. BT did the same to us a few months back a bill went from 25.00 a month to 67.00 a month because they didn't tell us this hub phone that they keep advertising as wonderful would cost us different more expensive tarrifs for using it. I'm on a roll now and will be looking at all our bills in future, some of you more astute sensible people out there will probably be amazed that we didn't do it sooner, but I work full time hours whilst running a house etc etc and don't know where I am supposed to fit all this stuff into my life. I'm not having a go at more sensible peole I am just mad at myself for taking my eye off the ball and getting other people who are like us to check their statements.:mad:

the_gorgeous_one

I was going to say I am doing rubbish at this new start, but I am still in the preparation stage, I am collecting receipts. I have been working long days so haven't had much time to check this months. We have also told the children of the limit on money for christmas pressies which they were both ok about, they are now both over 21 and I would love to spoil them but need to be sensible. I am off work on Wednesday and Thursday and hope to get my SOA done then. I have also paid off another bill, only a smally one but its gone never the less.