"Simply not solvent!

hypno06

Morning!

Congratulations on the 600th post!!

Good news about the mortgage money, one thing less to get stressed about.

Has OH cut up the CC yet, and if not why not? If temptation is there it will get spent on, so get the temptation out of the way.

My OH is useless with the money and budgets etc, so I do everything. Sometimes it makes me cross and very frustrated that he doesn't even know what our mortgage is, but most of the time I just have to be satisfied with the fact that by dealing with it all myself, I know exactly where we are and there are no nasty surprises. Perhaps it is time for you to take over the reins completely? Of course, this still needs his co-operation, but maybe it is the better (and less stressful) option for you?

Now, get off MSE and get working.....(she says sat in her dressing gown and supposed to be doing assignments for a course she is on tomorrow.....:rolleyes: )

saffronflowers

Well I have just managed to do a splendid bit of procrastination by reading this thread!!!!

Congrats on all that you have acheived, it is really wonderful. Stick at it you will get there.

SFx

Seaxwyn

1st May update - happy Mayday!

I've just checked all the accounts and am surprised and delighted to see a substantial drop in the debt total from last month and more than £2,000 less debt than on 1st January - hoorah!

We have another big cheque due in this week and will pay off some more, including that annoying HSBC credit card.

April was an expensive month with some big one-off payments, it's good that we got through it without increasing our debt.

So all in all I feel cautiously optimistic that we can get there. We both continue to have plenty of work. OH has been offered more teaching sessions and the college principal said he'd like him to "deliver a unit" next term - anyone know what that means?

But at the same time I have to note that most of the drop in total this month is due to my A&L O/D being lower and that fluctuates wildly. We're not making inroads into the Abbey CC, and that jumps to 12.9% next month so I really need to reduce it. What we're doing is surviving, keeping on top of outgoings (which are always so massive - about £3,700 in April!!) and making minimum payments or just over. Need to speed up.

hypno06

Morning and happy May to you too :j

A couple of things jumped out at me from your post above:

"£2000 less debt than on 1st January" - fab achievement and one to be proud of

"April was an expensive month with some big one-off payments, it's good that we got through it without increasing our debt" - another big step forward. I bet that last April you would have increased the debt without really even thinking about it....

"keeping on top of outgoings" - again, look back a few months - were you keeping on top of outgoings then? No? Well, be proud of how far you have come.

"Need to speed up" - be careful that you keep things in perspective and don't run before you can walk. OK, so looking back you are now far more in control than you were before - this is a major step. Don't try and speed things up too fast otherwise you may fall flat on your face. Just try a slow jog for the next few weeks.

You are doing fab x

atypicalblonde

Hi Sea!! I have read through your whole thread and just wanted to congratulate you for the progress you have made, it is very inspiring. You also have to pat yourself on the back for taking charge of the whole debt situation - my OH too didnt get it, but I have breathed down his neck enough now for him to realise I mean business. Please dont be too hard on yourself for things not going as quickly as you would like them too, you are making wonderful progress and that is what counts xx

chevalier

Quite an up and down April Sea. But well done on making some progress. Ref your OH have you sat down with him, and not had a go about the money, but told him why you go on at him about it, ie that it hurts you that you can't trust him to do the financial jobs you ask of him, and that that makes you feel very alone, as if the only one who is fighting the debt is you? Perhaps know how you feel (by you saying it in a measured way) will give him his own lightbulb moment.

And now back to work you, and don't forget your pinger to keep track of the time! You can still do 4.5 hours billable work today before you have the children back from school!!!!
chev

Seaxwyn

Thanks Girls!

It's good to have a moment feeling proud about debt stuff as usually I feel so down and anxious about it all.

Hypno, I don't want to jog, I want to sprint like you! I'm always reading about you scraping together the odd little amount here and there and paying it off a debt. Whereas I am always scraping together the odd little amount just in time to pay some urgent bill!

Re OH, he is not so bad really. He does kind of get it, and has come along way from last year when he was in hopeless denial. But whilst debt and how to get rid of it is my all-absorbing obsession, OH actually feels more comfortable than he has in a long time, as he is earning money at last, and is happy to meander along without really thinking about it all. So when he gets money in he will go and blow £100 in Sainsbury's on choice items from the deli counter or whatever. Anyway - he's a good man really and I moan more than I should.

Chevalier - I could do 7 billable hours as they are at afterschool club today! And I need to - too many projects drifting.

Thanks all!

sammy115

Seaxwyn, I have just popped in and not had time to read the whole post. Can i ask - slightly off topic - do you have any cashflow budgets in place for your self-employed business.

I do a lot of work with start up businessess who need cash flow projections and business plans going forward when they require funding. How do you manage your business transactions at the moment.

I ask because my sister in law was in the same position as you and has recently realised that you can't run your businesss through her personal account and her personal through her business account. (She pays people depending on how much money is in each account). This has led to lots of confusion - not mainly for me who does her books.

If you need any help - I would be happy to assist.

peb

Great news!

A unit usually means one full section of a course; say one term of 2 by 2 hour lectures. It may however mean that your OH will have plan, prepare the unit and lesson plans and set assignments and examinations. Lots of work! NB - has he considered dong the PGCE; you do get a grant for doing it for a further education college. the fees are covered and I think you get 6K for teh year; this may mean more teaching work if that is what he wants to do.

Seaxwyn

Hiya Sammy

No I don't have any cashflow projections, nor any separation of business and personal money. I know this is really unprofessional - I do of course keep records of money in and work-related expenses (which aren't much - mostly travel and the odd bit of stationery). I don't know how to even begin to address this. Do you know where I could get free advice? eg a website?

Thanks peb - brilliant news! We have talked about him getting a teaching qualification and I'm nagging him to investigate. He is pessimistic as he doesn't have a degree. Do you think that would be an obstacle? He does have years of industry experience and this college where he's working now obviously think highly of him as they keep offering more work.