5000 Watt Lightbulb Moment - Determined to Clear Debts

QOTD

Boy oh boy, it's been a termultous week. Last week the company that I work for announced that it was going into administration and that everyone (bar about 50 people) were put on notice of redundancy.

I was one of the 50 people that was retained in order to help with the formation of one of the new companies but yesterday was also given notice. Obviously I didn't rest on my laurels last week and updated my CV and went out to visit agencies to get a new job. The BIG NEWS is though that I have no job, no salary for my last months work and I was the main breadwinner.

Fortunately we had a very small amount of savings (which was to pay for some building work that was due to start on Friday but obviously has now been cancelled) and supportive family that have lent us some money. The bank - believe it or not - have been supportive and extended the overdraft. And finally my old employer is able to provide me with some work that may last between 2 - 4 weeks, and would also allow me to attend interviews, etc as required. All in all we should be reasonably "ok" for the next 3 months but after that will be in severe dire straits if I still haven't got a job after this time.

I have yet to sit down and count up the credit card debt - I know its in the region of £15 - £20k. I had planned on doing that today but ran out of time as I had to pick my son up from school as he was unwell (and I was not going to use the car unnecessarily so started off on a 6 mile round trip, hence left me short on time!)

On a postive note I have saved £5 a month in changing my house and contents insurance (for better cover than the old cover as well!). I also checked my gas and electricity accounts. I was in credit on both accounts - £15 on electricity and £230 on gas :j. I immediately applied for a refund and fortunately as it's all online got the confirmation back that it would be in the bank in the next 5 days. In addition the direct debit for the next 3 months will be reduced from £33 to £3!!! :T. OH is extremely impressed with this double-whammy of both getting over £200 into the account and saving £30 a month (me too if I'm honest).

The difficulty will be tomorrow when the depression sets in when I admit to myself how much debt I'm in. I can't do too much about it at the moment with not having a job BUT the aim is to be as frugal as possible in every way possible; no trips to the pub on the weekend, no take-a-ways, no fancy meals. The in-laws have invited us to lunch on Sunday which means that I still have three Sunday dinners in the freezer (fortunately it's extremely well stocked) and looks like there's going to be lots of lentils hidden in the minced beef (I've done this before and no one's noticed) and pasta for dinner - although not necessarily together.

Aims for tomorrow:

1. Determine full extent of debt
2. Make meal plan for coming week making full use of everything in pantry and freezer
3. Plan shopping list for coming week aiming to spend no more than £10. This will be covered by Tesco's vouchers so will ultimately be free
4. Ring agencies to get update on jobs
5. if time allows aim to put between 5-10 items on eBay for sale so try and get some income.

dizzybee

Just wanted to wish you luck on your journey.

clippy_girl

hi hun sorry to hear about the job, hope you get some interviews soon! well done on the gas, thats a great saving

QOTD

Thanks dizzybee and clippy_girl.

Just totted up my credit cards and I owe an astonishing £25.5k!!!:mad::mad: I can't believe it. I took out a loan a couple of years ago for £18k to pay off all my credit cards and I've gone and done it again and practically maxed them out. I have no means of paying them back at the moment until I get a job so I'm up the proverbial creak until I get a job - albeit I figure we can survive for the next 3 months. After that if I'm still out of work it's going to be crunch time and I will need to go to one of these debt crisis places.

If, if... I get something work wise in the next couple of months then it will be tough but I know that I will be able to pay the debts off. Now I know how much the debt extends too I will ensure to be much more frugal in the future. Since I have the time at the moment I want to make plans for the remaining birthdays this year and also Christmas to see what I can make in the way of presents. I don't want to leave things until too late otherwise I will give in and end up buying something....

I'm still in shock ... £25k....:eek:

QOTD

You know this is really quite cathartic... anyway lunchtime update.

• I have managed to put 10 items on to eBay,
• made some scones with some milk that was on the turn so ensuring that I'm not throwing anything away
• made some butternut squash soup for lunch with frozen stock and squash that I had in the freezer
• made cottage pie for dinner with more lentils than minced beef (ran out of lentils so these will need to go on the shopping list as cheaper than mince!)
• my OH's sister got engaged on Sunday and we are meeting up with them this coming Sunday at the in-laws for lunch. I know that she will not expect a present HOWEVER I have some felt in my craft stores so as something will make a little mp3 or phone cover for her tonight and get DD to help make a card (plus I know she appreciates anything home made)

Still to do:

• Make shopping list and meal plan for coming week
• Find something that I can make with an abundance of pre-made icing that I have and needs using...

QOTD

Yesterday I managed to make a list of food that we could eat over the next week and realised that we actually have enough in to feed us for the next 3 weeks with just the minimum of weekly shopping for bread and milk.

In fact I made my shopping list for things that I'm going to buy today - my target was around £10 and it came under £10. THen I realised that I was planning on buying it will a £10 Te$co clubcard voucher that I have so I need to spend more than £10 in order to use it... shouldn't be a problem I figured I'd buy some more milk and onions that I don't really need this week but will keep for next week, came to about 20p over . Hopefully the store will also have the same prices!

I haven't yet looked at anything to do with the icing but there's no particular rush on that. Instead I started to make a list of people and gifts for birthdays and holidays. I have one birthday this month (MIL) which I think I'm going to just let the OH sort out (I know that's cheating but it's next week I think and I imagine a bottle of wine may just suffice given our current situation.

The next set of birthdays doesn't hit until end of October and then they are in full flurry through to next March and obviously Christmas is in the middle so this will give me time to think of gifts for everyone, plan them and finally make them in time. I worked out that normally we would spend between £800 - £1000 a year on gifts so if I could reduce that to £500 (or lower) that would keep some pennies in the pot to pay off some debts.

Plan of action today:

• Agency interview this afternoon
• Speak to old boss (who is looking at getting me some work) to see if/when he needs me
• Get some more items on eBay (+5 items)
• Get shopping spending just over £10 on vouchers
• Update gifts list with present ideas and plan costs/making

QOTD

Just checked my eBay account and someone has placed a bid on one of the magazines that I have put up for sale :j and there are some watchers on the others. I have about 10 more that I need to put on eBay so these are definitely going on today! :beer:

QOTD

:j:j:j I have an interview on Monday :j:j:j

Yippee. Job is paying almost £10k more than my last job (I was underpaid!!). If, if, if I get a job at this kind of salary this would really help with getting rid of my debts - stating the obvious I guess if I can get the equivilent of an extra £7k a year.... :D:D happy today, great boost for the weekend when I can't actually do any job hunting.

QOTD

My DS managed to rip the entire side of his school blazer last week and it looked a complete mess, I sent him to school with safety pins on the inside on Friday since I only spotted it last thing on Thursday night - of course he didn't bother to tell me. On Saturday I sewed it up and was actually quite impressed with myself (I've only used my sewing machine about twice - my mum gave it to me years ago and I did have "lessons" at college but it was during the bad winter so I missed loads of classes as the weather was too bad to drive to college in the evenings!).

I managed to make a padded photo frame and handmade card (or rather my DD made the card) for my SIL who just got engaged.

Then given my success with the blazer I decided to embark on making a summer dress for DD - like she needs another summer dress - but it kept me out of mischief for a few hours. In the end it turned out really well - no photos as yet - as you she wore it to the BBQ my MIL had this afternoon to celebrate my SIL getting engaged. All in all really pleased with myself this weekend and no money spend!

Having said that the new La Redoute catalogue appeared on Saturday and going through it I have found a few things that I would like for the Autumn/Winter season. There are a number of things that I could make myself - like simple skirts and dressed, and even maybe some lacy slips (or rather simple slips with lace edging). However the plan to wear skirts/dresses in winter means that I would need some of those nice woolly ribbed tights. Just checked on eBay and they are currently selling at 99p + P&P so that might be an option - obviously not looking at buying just yet, just thinking. I also need/want some brown boots. I do have a pair of black boots but they are starting to come apart on the sole and my just last this winter but they are more dressy than casual so it probably is a need more than a want since the only other option I currently have for cold weather is trainers and wellies!

Still this is more looking to the future... helps to look forward sometimes!

QOTD

:j After a nice, sunny weekend I have another interview arranged for tomorrow. I have one at this afternoon in the centre of Manchester and another tomorrow afternoon at Media City in Manchester. Looks like Manchester is the place to be....

Wishing myself lots of luck...

QOTD

The interview today was a preliminary one and if I'm sucessful I will be getting a call tonight to attend a second interview tomorrow morning. I have good feelings but no idea....

I also have a telephone interview tomorrow - not quite sure what time just "in the afternoon" so this doesn't really help me to plan my day. Still, so far I've had an interview every day this week so that can't be a bad thing.