Buddiebabe begins again

MrsPorridge

Buddibabe well done on starting your own business! I shouldn't think that there is ever a right time to do this - there would always be an excuse not to take the plunge - so well done for doing so! I wish you all the best with it - please keep us posted.

MrsPorridge

Hi Buddibabe - hope things are OK. xx

buddiebabe

Hey

Well I haven't been on her in what seems like forever but I really think I need to start making some changes and am looking for some help and support along the way. Im hoping that by coming on her and confessing everything that I may find a way to begin to get myself back on track.

Here is the debt situation as it stands today:

Last update was 1st October 2012 now 17th August 2013 :eek:

CREDIT CARDS:

RBS M/C 1 £8840 now £8130.00
RBS M/C 2 £5870.00 now £5575.00
DEBENHAMS £938.95 now £750.00
MBNA £3244.00 now £2600.00
TESCO £2277.00 now £2137.00
SANTANDER £309.93 now PAID OFF :j

JOINT ACCOUNT

WEDDING PRESENTS £360.00 now PAID OFF :j
DRESS CLEANING £95.00 now PAID OFF :j
DUNFERMLINE £110.00 now £150.00

VERY ACCOUNT

IPAD ££240.80 (Buy now pay June 2013 0% IFC) now PAID OFF :j
LAPTOP £367.00 (Buy now pay July 2013 0% IFC) now PAID OFF :j
FRIDGE / SAT NAV £330.00 (Buy now pay August 2013 0% IFC) now PAID OFF :j

TOTALS:

CREDIT CARDS £21326.17 now £19192.00
JOINT ACCOUNT £555.00 now £150.00
VERY £937.80 now PAID OFF :j
MOTHER IN LAW £1000 (this one is new )

TOTAL DEBT OUTSTANDING £22818.97 now £20342.00

Total paid off from 1st October 2012 £2476.97

So I have managed to pay off £2476.97 in 10 months which is only £247.69 per month.

I really should update with where things stand at the moment. There was a very worrying few months at work just after Christmas where I was told that my job no longer existed and that I would need to re-apply for the jobs available. It worked out in my favour and in April I started a new job where my salary jumped by £2000 a year so finally a bit of a break . I have still got my other 2 jobs and my wee business.

My main job has had overtime on for the last 4 months and I have been trying to do as much as I can however with the other jobs and my business I have found myself struggling. The overtime is well paid and if it was guaranteed I would have given up both my part time jobs, however, it is not so I have had to fit it in around my other jobs and my business.

I have just decided and advised my part time job that I need to reduce my hours. I am working all the time and am constantly tired and irritable which isn't doing me or my husband any good. The house is a mess with no time to get anything done I feel that everything is just getting on top of me so I took the decision to reduce my hours in my second job which will free up my weekends to allow me to do overtime when its available (double time on sundays) and also spend more time on my business.

The business is not doing too well (im not making money!) I haven't had enough time to spend on it and im not very good at pricing things. I really need to spend time working out how much it costs me to make everything and then start from there. Im hoping that by reducing my hours I will be able to spend at least one night a week and a Saturday devoting my time to the business. At the moment I owe my dad £500, my husband £70 and myself £1400 (which part of me thinks that if I hadn't started this business it would be another credit card paid off, however, it is still in the first year and if I had more time to spend then I think it will take off). I am going to give it another year and if im still not making any money then am going to call it a day. I think I owe it to myself to spend the time and money to get it off the ground and if it doesn't work then at least I know I have tried.

The reason for coming back on here is that now I have reduced my hours in my main job I have reduced my income by £26 per week (which is a lot of money) with my new job I am earning more so I have enough to pay all my bills and my debts just not very much left over.

Im going to update my list of debts as at todays date without all the ones that are no longer there so I can start with a clean sheet (so to speak)

17th August 2013 Debts Outstanding

CREDIT CARDS:

RBS M/C 1 £8130.00
RBS M/C 2 £5575.00
DEBENHAMS £750.00
MBNA £2600.00
TESCO £2137.00

JOINT ACCOUNT

DUNFERMLINE £110.00 now £150.00

LOANS

MOTHER IN LAW £1000

TOTALS:

CREDIT CARDS £19192.00
JOINT ACCOUNT £150.00
MOTHER IN LAW £1000

TOTAL DEBT OUTSTANDING £20342.00

I still have the minimum payments to pay to RBS MC 2 and Debenhams to pay this month. Everything else has already been paid.

The loan from mother in law is being repaid at £100 per month.

Based on my income and outgoings I have £60 per week left for food, clothes, going out and petrol.

Petrol to get me to and from my work comes in at around £50 per week to fill up the car. Now I know I don't need to fill it up every week so I will fill the car up 2moro as I still have money left this month. I will also go and do a shop 2moro so that we have food for this week.

My plan for the coming weeks is:

- work at least 5 hours overtime each week
- try and meal plan
- spend one night working on the business
- try and book one craft fayre for each month
- try and sell at least one item a week or £5 a week (through facebook buy and sell page)
- try and clean one area of the house a week (even if its only a cupboard or a drawer)

My plan to clear off my debts is:

- clear Dunfermline account (with next OT wage)
- get debt to under £20000 (only £342 to go)
- make some money from my business to enable me to take money out from the £1400 I have put in (even if its only £10 it can go towards a debt)
- try to make £10 a week from the business (not through craft fayres)

Well im off to have a look through some of the posts and try and see if there are any other things I've missed out

Sorry for the long winded post but I just had to write it all down

Buddiebabe x

buddiebabe

Well I made it to work for overtime the dilemma now is do I stay till 1 or 2 more money for an extra hour and this will give me nearly the £100 I will lose from my other job so 2 it is

buddiebabe

Update

Well I managed my 6 hours at work today :j so that's me already worked my 5 hours this week... just kidding. I am hoping to work 5 mornings this week and possibly one hour on my night off but it all depends if I can drag myself out of bed early enough! As the schools go back tomorrow the traffic is going to be a lot busier. Will need to set my alarm that wee bit earlier will be worth it in the end.

I filled the car up with petrol £57.87 :eek: it wasn't quite empty but it was heading that way. I also went to Morrisons and did a shop didn't get much realised today when I was wandering around how expensive everything is getting (haven't really noticed it in the past as I usually just go for whatevers on offer) but I went in to get a few specific items and ended up just not bothering with them. I spent £31.17 on 23 items and came out with 2 bags :eek: luckily we have a lot of food in the house so we will be living out the freezer and cupboards this week. When I was wandering around the shop I also noticed how they have stopped selling certain items (mostly the cheap stuff I usually buy). They had no minced beef, only minced steak at double the price so settled for minced pork instead (larger pack and cheaper)

I feel like I had a productive afternoon. After getting the shopping I came home and did 2 loads of washing, cleaned the kitchen and made 2 lasagnes (one for hubby for work during the week and one for my mum)

I also managed to make £1.80 from my business today (whilst at work) so that goes towards the £10 per week I want to make only £8.20 to go :rotfl:I also found 20p on the couch which im sure fell out of hubbys pocket but he said I could have it so it's in my wee jar

I have ironed all my work tops for work this week, got my lunch in my bag and marked up my business accounts with todays sale....I even spent some time tonight painting my nails just a small bit of me time but not something I usually allow myself all in all today has been a good day

Buddiebabe x

buddiebabe

Just a quick update before bed. Managed an hours overtime this morning and made £1 from business today so only £7.20 to go to make weekly target for this. Was reading the 1% challenge and as scary as 1% of my debt is £203.42 I think it is do able so will need to look into this thread a bit more closely as this would clear my Dunfermline debt and bring me one step closer to my debt free date

Buddiebabe x

buddiebabe

Well today has been a productive stay in bed sort of day I've been sitting working out finances and paying bills. I only have another £60 to pay out this month and then the rest of the money is for food and petrol.

I have worked overtime this month as much as I can (did my 5 hours last week) and I can go in 2moro although I do fancy another wee day off but im not going to pay off my debts if I think like that.

Overtime is due to end next month so I should really take as much as I can while its there!

I did manage to make £13.40 from my business last week so I did meet some of the objectives I set out for myself. Not been able to take any money out of the business as yet but did spend last night sorting out my stock so I know what I have.

I have also done my budget for next month. I have enough overtime to put away what I am losing from reducing my hours in the shop until December so that I won't really feel the effects of the reduction in hours until January when I will be re-assessing my monthly outgoings anyway.

I should also be getting a 1% wage rise at some point soon at work and then next april I will also receive an increment on my wages (about £300 for the year) which will also help lessen the blow of the shop wages.

I sold some things on my local facebook page for a total of £30.70 which I also managed to add some loose change to and paid £36 off my Dunfermline account.

Part of me is thinking that with my overtime I could just pay it all towards my debts but this is where I always fall into problems I really want to pay off my debts so pay as much as I can towards them and then I have nothing left to live off so am trying to be as sensible as I possibly can be

Going to think about getting out of bed now got dinner with the inlaws for their ruby wedding anniversary tonight. They are paying so we don't have to worry about dinner also going to give them a bottle of champagne from out present stash (neither myself or OH drink wine or champagne so it all has to be recycled one way or another)!! Did spend £3.03 on a card (should have been more but they had 25% off) :eek:

Buddiebabe x

buddiebabe

Well just in from the most amazing dinner ever it was so tasty but we will never be able to return there due to the cost. There were 8 of us there and the total bill came in at £598 :eek::eek::eek:

It was paid for by the inlaws and I couldn't believe the cost of it... it could have cleared one of my debts and made good inroads into another!!

I managed another sale on facebook today so that was another £5 to add to the 1% challenge (now paid 27%) to Dunfermline account only another 73% to go

Off to get some sleep now am undecided about work 2moro as it would be good to make some headway clearing out this house.... but on the other hand the overtime would come in hand... decisions decisions

Buddiebabe x

buddiebabe

Well the overtime was decided for me I didn't set my alarm so am not long up in fact am still lying in bed will need to get up and find some motivation from somewhere...

Sometimes I wonder what is the point??

itsmethatswho

Hi buddiebabe, I have just read through your diary from start to finish. I just want to say a big well done for working through the debt, you've come a long way! I don't have any debt myself, though myself and OH are on very low wages so struggle, and am trying to save for our wedding. One thing I wanted to comment on is, you work an awful lot of hours, I understand you need to/want to to pay off your debt, but please be careful to not burn yourself out. Keep up the good work