Debs' debt-free dreams

mrsmoneybee

Ok, a friend has convinced me this is the next step in sorting myself out. I'm new to this so any tips and pointers in what I should be writing/counting/doing are greatly appreciated!

I've stopped with the blinkers this year so I am no longer racking up hundreds in bank charges all the time (um, every month) and have not missed a single payment in months, however we have a bit to pay off. If I outline it roughly below can anyone shout up if I'm going about this right please and I'll try and get the exact figures?

Ignoring the mortgage (which is all fine by me):
Natwest loan: approx £17,400
Natwest overdrafts: approx £3,600
Santander overdraft: approx £1000
Santander car finance: approx: £1200
Santander cc: approx £500
Barclaycard: approx £2800

Not pretty is it? We both work full time now so we can afford to meet payments, we had a tough year 3 years back with hubby losing a lot a month (he's a tradesman and his earnings dropped dramatically with the recession), typically whilst I was on maternity leave and earning peanuts, followed with a year of £1100 a month childcare so I could keep my job. We're ok now (by that I do not mean in the money but I'm not panicking about a repo anymore) but are left with a bit of a mess. That's about it... all comments welcome please

Hovel_lady

Hello and welcome!
It's your diary so write whatever you want. I keep my spending diary on here which I find useful.
If you post a SoA (statement of affairs) people will have some suggestions for you I'm sure. Link here:

https://forums.moneysavingexpert.com/discussion/107280

Have you been to the OS (Old Style) board? Loads of tips there on making the pennies stretch.
Good luck on your debt free journey x

mrsmoneybee

Ah thanks, I'll see if I can come up with that this week. I need to do something or I'll be in the same boat this time next year. My friend is using this as a spending diary, I spend a lot on junk I will admit, but have no idea how much at the mo.

mrsmoneybee

Day 2... here we go.

I still feel like I'm floundering a bit with this as I'm not sure where it's going but have at least made a start with confirming some of the debts:

Natwest loan is £17,681.33
Natwest ODs come to £3671.01 of a £3800 limit
Barclaycard is £2715.50

My aim for today is to find out the amounts of the others and I'll feel like I've done something positive.

Wish I could call this a NSD (getting the lingo too!) but unless I feel like washing all the clothes and dishes by hand I do need to buy washing powder and dishwasher tablets. Oh and loo roll but with 2 small boys in the house that is NEVER going to be an exercise in money saving!

MoneyMax

Welcome Debs, glad I inspired you to do this!! Keep going we can be debt busting buddies! :T

mrsmoneybee

Cheers Max! With your help I will get a bigger house one day!!!

Well, by the time I'd finished filing tonight (I'm still dealing with the by-product of ignoring it for 5 years) it was too late to find out the car finance one however I now know the Santander a/c is at its £1000 limit and the Santander card has £462.98 on it (not including T's work stuff). One more to work out and I can get started!

I was appalled to discover that my dd for Santander cc - the minimum payment - is an awful lot less than the interest every month! How naive am I thinking that they should take at least enough to pay some off? That card is first on my hit list.

I think I have a target, it may be unreasonable but I'd like to give it a shot! By the time DS2 starts school next Sept (yay, £550 a month better off!), I'd like to see the back of both CCs, the car finance and the Santander O/D... approx £5500 once I add interest. It's probably not possible but I'm going to give it a darn good go!

mrsmoneybee

Ooh, just when I think I can do this, stupid Santander sent me 2 letters today - one telling me to pay into the overdrawn account or else basically and the other reducing the cc limit below the amount on it (most of which is hubby's work, not the £500 I owe). Fan-flipping-tastic. I'm going to drink wine now (already bought, not a spend) and try and ignore this till Monday when I can try and do something about it. Joyous poor weekend, thankfully geocaching is free and will keep the kids entertained for the weekend. Grr!!!

Hovel_lady

This is for Santander :mad:
And this is for you
Hope you get it sorted xx

mrsmoneybee

Thank you. Just shows Max was right in getting me on this as I'm clearly in a mess. I'm on one now though, I have a hot date with ebay on Monday! I'll show Santander!!! :mad:

mrsmoneybee

Ok, doesn't seem to matter what I do, life is expensive! DS1 has cost me £20 today with a new martial arts uniform and a swimming badge (25m, very proud of my super little man) but he's worth every penny. Kids haircuts were £10 and put £20.01 of petrol in my car (always that darned penny) but didn't waste any other money and had a grand day out. Usually I wouldn't have even noticed how much I've spent in a day then wonder where it all went!

Got to go shopping though as the fridge/freezer has remained empty since it broke down last week and we lost all the food. Randomly it started working again but haven't trusted it. It's been 5 days so feeling brave enough to put some food in it again now! Fingers crossed :eek:

Feeling bit money saving smug as hubby suggested Southport Air Show tomorrow, he's been away all week with work and wants to treat the boys. Would love to go to Southport as haven't been for years however looked online and the tickets are £9 each!!! £27 plus petrol is not going to happen, so we're going to watch the same planes up at Windermere instead. We're not going to the air field but will watch it from somewhere nearby (it's the sky, they can't charge us for looking at it!). Packed lunch means the cost is only the price of petrol (not as far as Southport) and parking.

MoneyMax

Youve got it Debs!!! Unward and upwards! xx