Buddiebabe begins again

buddiebabe

Well still not done much finance wise but did the race for life today and with my collegue we managed to raise just over £500 for cancer research :j it took me just under an hour 55mins and considering i didn't really do much training i was pleased with that.

Will need to spend more time trying to sort out things and having a bit more time for me.... will just need to find some time to do this

Buddiebabe x

chevalier

Buddiebabe I have taken the time this morning to read your diary from start to finish. And I have a couple of thoughts.

Does your OH contribute to the mortgage at all? Should he?

Could he take over your share of the bills so that you could pay off the interest bearing debts?

I am guessing some months the totals are only going down because you are paying off the loan? Ie the rest of the money is going on interest payments rather than paying off the capital on the debts?

What does your OH think of all the hours you are doing? Would he rather have you home more but helping out more financially? He must hardly see you some weeks.....

Is there any reason for NOT going on a DMP with CCCS or Payplan? Ie work related? Ref work any chance of a promotion at your main job?

The reason for mentioning the DMP again, is that you know that when you are back to just your contracted hours at the 2nd job, that you will be short every month. So you either get further in debt with a credit card, your OH or your mum. That is just moving the short fall around. But the bald truth is that you can't afford this level of debt without extra hours.

Isn't this what a DMP is set out to manage? Yes it would trash your credit rating, but then if you are making late payments, (?) it will be an issue anyway.

I really hope you can make some headway, but to be honest it will only take on big thing going wrong, car problem, oven packing up, water leak from another property and your precarious finances will really be sinking.

So maybe now is the time to think I have struggled enough, and accept that unless you have a massive pay increase, this level of debt repayment is not sustainable...

Sorry to be blunt
chev

MrsPorridge

Hi Buddiebabe - how are things going?

buddiebabe

Hey

Well here's the details of my debt as at 1st June 2012:

LOANS:

RBS LOAN £1004.16 now £753.12

CREDIT CARDS:

RBS M/C 1 £9130.00 now £9070.00
RBS M/C 2 £5994.08 now £5935.00
DEBENHAMS £995.00 now £980.00
MBNA £3283.89 now £3244.00
TESCO £2288.00 now £2277.00
SANTANDER £334.00 now £339.01

OH:

CAR INSURANCE £70.00 now PAID OFF :T

WEDDING FUND £237.50 now £381.50

TOTALS:

LOANS £1004.16 now £753.12
CREDIT CARDS £22024.97 now £22024.97
OH £70.00 now PAID OFF
WEDDING PRESSIE FUND £237.50 now £381.50

TOTAL DEBT OUTSTANDING £23336.63 now £23159.59

Total paid off in May £177.04

Total paid off since 01.01.12 £1726.73 (6.94%)

Well I know its not the best reduction but things haven't been that great. I actually think im getting back on track now so am hoping that things will get easier in the months that follow.

Chev you made some excellent points and thanks for taking the time to read through the diary. I know exactly where you are coming from with the DMP advice but I have looked into the trust deed that is available in Scotland but it would take the same amount of time to pay that back as it will for me to continue to pay the debts back with no effect on my credit rating and the trust deed is not guaranteed that it would be protected and it may mean that i would lose my home and i don't really want to take that chance.

I have spoken to my OH and he is going to give me more money. Instead of £140 he will be giving me £160 a week which will leave him with £40 a week which he needs to pay his own bills and have money to spend every week if he needs it.

Im hoping that things might get better with this. The only reason that i've not managed to pay as much of this month is that I had my cousins 30th birthday that i didn't account for and it involved a party and an overnight hotel stay.

There are no options for promotion in my main job as the job may not be around for long. I work in housing benefits and with universal credit being brought in we have no idea how long our jobs are safe for. If the worst case scenario happens then i will definately think about entering into a trust deed or debt management plan.

The extra hours in my 2nd job seem to be continuing at the moment but i know they wont last forever but there are still people off sick and holiday time is just coming up so i should be able to get a few extra hours from there.

As for problems with the car or the house we put money away every week for these problems if they arise and this month we have managed to pay for our MOT £190 in full from the savings that we had and although we haven't thought of every eventuallity we are able to swap the money around to use for what is needed.

I have paid OH all the money that i owe him so i now have no debt to him or my mum which feels great.

I am going to continue with paying off the debt as i am i know its going to take time and hard work but im determined to do it.

We have booked up to go to Skipton Sands near scarborough at the end of this month as its my OHs 30th Birthday so we wanted to do something and it will be our first proper holiday away from everything for one full week. Im looking forward to spending some time away from work and the house am hoping it wont be too costly doing this but at the end of the day we need a bit of time together.

Mrs P hows things going with you?

Buddiebabe x

Seaxwyn

Hi Buddiebabe! What a lovely positive update. I hope things will get a bit easier with the extra £20/month from your husband.

Well done on the debt reduction in May. I wonder if you paid off more than you think, as the old and new totals you've listed for your credit cards are the same.

And a huge well done for the Race for Life last month.

I hope you have a lovely holiday.

buddiebabe

Hey seaxwyn thanks for noticing that Im actually now below 23k!!!!
So total credit cards is now £21845.01 which means total outstanding is now £22979.63 and it means I paid off £357 last month woo hoo thats just made my day

Oh and I got an email this morning to say id won a benefit lip gloss n bottle of coke from a coke zone competition

Things are looking up

Buddiebabe x

Seaxwyn

Brilliant! You got through the 23s quickly! Keep going....

buddiebabe

Thank you im excited to see the numbers coming down. Meant to say my hubby is giving me an extra £20 a week so that should be quite good in bringing the debt down.... well i hope so

I have an unexpected day off today as i've been up all night with toothache so am having to take a holiday to get a dentist appointment.... so decided that i better make the most of it so operation clean up has commenced!!!!

So far i have:

- put washing on
- put out bin bag of rubbish
- put out bag of recycling
- 3 bin bags of carrier bags to go to the charity shop
- a bag of stuff to take to work
- a bag of stuff for mum

Am feeling pretty good making some space and finding things that i didn't think i had.... managed to find lots of things i had bought but had no idea where they were..... i don't think i'll need to buy any de-icer, bin bags or cloths for a good few years

Im also writing out a list of things i do need to get that are running low or im running out of.

Will update again soon but don't want to spend alot of time on here cause i'll just get distracted....

Buddiebabe x

buddiebabe

Quick update:

- 1 bag to recycling
- 1 bag to bin
- washing hung out to dry
- another washing on
- one pile of clothes sorted (a few items binned)

away to get some more done

Buddiebabe x

MrsPorridge

Hey Buddibabe well done being so productive on your unexpected day off! I had a day's holiday last week and planned to spend it sorting out the spare bedroom and spring cleaning - I ended up sitting down and reading most of the day - but maybe I just needed that break.

Things are going OK but not great - still struggling to pay off stuff and have enough to live on and not feel deprived. We are also having a few days away - one night in a Travel Lodge already booked and will do B&b for the other 3 nights - touring around south Wales on our motorbike. Will try and keep costs low by brining our own biscuits, using my flask etc. I have identified that most of my overspend is on food.

Have not been too good at WW recently but last night lost 2.5 lbs and that has given me the boost I need. Have managed to stick to it today which bodes well for the whole week - I find if I can stick to the diet for one day then I am OK.

Am really glad you have booked a holiday - everyone needs a break now and again and you are certainly overdue one.