Starting Again

Skint_but_Optimistic

You do right to have a look and see whats held on there, I discovered a search had been made for a mortgage from someone with a different surname completely by chance, and I was able to write to Experian and ask them to strike the record.

I have a number of calls to make today - I am on a half day. I need to go to the toy library and drop off a baby donut I borrowed, and DS no longer uses.

Then the charity shop, and I will drop off a ton more clutter I have cleared.

Then the post office, posting the ebay packages.

Then home.

Some money has come in today and I have worked through the master list, of minumu payments, available cash, holiday money.... Its good that I have these things written down and I am crossing them off.

What would be really wonderful would be a tax credits rebate but I dont think that is going to happen now, so its back to the real world and strict budgeting and lots of ebaying to make up my last thousand pounds and all my bills are done and the holiday money fund is done too!

I know we can do it, as there is wriggle room. Child benefit in on Monday, half of that minimum payments, half to holiday fund. Ebay sales are sitting at £14, so that will be good too.

Im in a good mood, despite sharing the office with the party goers.

Ive even had a bacon sandwich.

Still swimming upstream...

am thinking what to spend the PPI money on when it comes through, dont know if I should put it all against the debts or replace the car with some of it, as its getting more and more unreliable.

Nice dilemma to have though.

gargrave50

Skint_but_Optimistic wrote: »

Some money has come in today and I have worked through the master list, of minumu payments, available cash, holiday money.... Its good that I have these things written down and I am crossing them off.

Ive even had a bacon sandwich.

Still swimming upstream...

am thinking what to spend the PPI money on when it comes through, dont know if I should put it all against the debts or replace the car with some of it, as its getting more and more unreliable.

Nice dilemma to have though.

Busy busy busy! Amazed you have managed the time to eat a bacon sandwich:rotfl::rotfl::rotfl:

Sounding all very organised Mrs

DebtFree2012

Hi SBO

You are doing so well and lovely to see you feeling so upbeat now.

Re PPI - I was in same dilemma as you know but decided to pay off a balance (only a small one but thorn in my side for SO long). Then, this is for me only really, I am leaving the money in the bank for a couple of months to be in credit as they do a check every coupkle of months to see what they can offer you and I am hoping for a lower loan rate. The catch is you have to have enough funds to clear the would be payments in your bank for a couple of months, then they send you the offer pre approved.

If that doesn't work I will be putting the money (plus any savings I have made) to the highest APR card at the end of the year ready for my end of year figures.

xx

Skint_but_Optimistic

Good thoughts.... we are talking 6k for one which is due in the next few weeks and 5.5 k for another, which will take about 20 weeks to come through. I will probably hang on to most of it while giving myself some wriggle room in the credit cards, in the short term at least.

Then what I save in the interest on those cards I will make sure I add to the pot.

I will probably hang onto it and continue scrimping. .

Yeah, might put 1000 against debts (clearing 2 completely) and then hang onto the rest just for a little while.

Need to discuss with OH...

Skint_but_Optimistic

Had a slow saturday morning but have sent off for my new photocard driving license (tarrah £20), sold a trophy cabinet (hello £10) and got a cheque in the post (hello £10) so things are evening up!

My car is having some further repairs, just a filter change etc to keep it going, but thanks to the car fund that £30 hasnt hit us.

OH and I had a discussion. As I rent the house I am in at the moment, I may try and buy it under the right to buy scheme. Have been reading up on it and we can buy for 60% of valuation. I have been accepted for a mortgage despite my credit history, so we shall pursue. We will hang on to most of the money from the PPI reclaim incase its needed for anything while this is pending, and clear some smaller debts moving forwards.

The mortgage repayment would be £100 less than the rent we pay.

The other house, we are almost finished renovating but its only 2 bedrooms. In the current market that would be tricky to sell. We have extra furniture, so we are planning a furnished let, and will also pop in a second hand sofa and a bed, and as we are changing our computer desk will pop that in the small room.

There is the bathroom to refurb, and we can do that reasonably.

Then, there is just the garden to do up, pave etc. It means we can put off the garage until we have saved to have it done from the mortgage / rent difference.

any tenants can have use of the garage once its built for a small additional sum, if they dont want it we can use it for storage.

The potential rent for furnished is 500 pcm, we already have fridge freezer, washer cooker etc in there. kitchen table, dining table, etc. Renters to pay their own council tax, etc.

The mortgage is 250 pcm. Plan is to save the remaining money for the garage and create a maintenance fund, and taking £25 off to put against the debts. So thats the plan now.

So, we know what we want to do and it seems a bit better to get the benefits of 8 years of rent paid, rather than walking away.

This house has so much potential, its a 1930s semi, and with the addition of gas central heating (1.5k) and a new porch and some off street parking (price to be obtained) and perhaps a loft conversion for a playroom (about 4k) we would be onto a real winner. The area is up and coming, A major housebuilder is completing some 4 and 5 executive houses on an estate to the rear, and the local authority have just renewed all the garden fences, making the area look significantly tidier.

SO. We are tackling old debts and reducing outgoings and then saving to improve what we have.

I want to clear half my original debt by December 31st. So if I realise my 30k total, and surpass it, I can do it.

So - this is what we are talking about and we are both completely together on it.

Means a slight culture shift.

We agreed our holiday has been a real positive focus for us as a family, not even going, just the fact we have it booked.

Therefore, we will "create" a holiday fund. This fund will be additional money allocated, and ringfenced in DH credit card account. Will bring down his balance a bit quicker and we will use this to pay without guilt, as we reduce his balance monthly anyway.

Once we have cleared his account we will make some additional payments to other accounts.

We dont go out often, we get a bottle of wine in (using tesco offers normally and stock up), and for day trips we made a tax deductable donation to the Wildfowl and Wetlands trust which gives us family membership and we went to Beamish and get free entry for the rest of the year. Other than that we take advantage of vouchers and stuff.

Anyway, more exciting stuff. Nice to be moving forwards!

millionaire_in_training

I have been making plans today as well. I think if you have a focus to work towards then it really makes you want to move on. I reckon if you just think 'pay the debt, pay the debt' then you are setting yoursefl up to fail as you will get bored after a while. I like to plan for the future , after the debt, and it spurs me on no end. I am planning Christmas just now so I can do my utmost not to end up using credit and having a fully paid for Christmas for the first time ever. That's the plan anyway

Skint_but_Optimistic

Yes and we have to be realistic and maintain hope, without a focus its so easy to go wrong again. I'm lucky I've 2 windfalls due. We just want to use them the best way. Im doing Christmas fund too, next year it will be a year long "debt" to repay, again on credit card then savings account. Feel hopeful of building something good now. In other news, ebay up to 20 pounds. That's better than nothing! Also going to clear other house after holiday and do more listings. Can't wait!

Skint_but_Optimistic

Today I have cleaned the living room and between the showers hung out washing.

I am going to iron to get ahead before DD2 lands back with bags of washing tomorrow. I am really glad I stockpiled some whitener.

Myself and Dh checked our phones were enabled to text while abroad, and they are. We wont be receiving calls though as thats ridiculously pricey. So looking forward to the holiday and the remaining 4 and a half work days should fly by.

Monday will pay in the cheque I received, pay bills using child benefit which is in tomorrow and check accounts incase I get something back from tax credits (haha hope springs eternal)

RIGHT thats enough blathering, its time to get the ironing out and start.

Might create some ebay listings too, to put on the Thursday before we go, then they will finish just after we return.

jellybean39

Hope you have a wonderful holiday you deserve it!!!!!!!!!!!! big style!!!!!!!!

Skint_but_Optimistic

Cheers jellybean!
I can't wait.

Just got into bed after making corned beef hash and mince and dumplings, two evening meals sorted. Mince was reduced to 1.29 at the coop. Made a corned beef pie and chocolate cake for snacks too. Visited parents and dd1, dd2 home tomorrow, can't wait!

Just settling ds, having a cuppa and then, land of nod. X