Jumping aboard!

downsizer3

Now all my bills for the month have come off I can see exactly where I stand and its tight tight tight. £200 into the gate fund and £200 to my card and I've about £70 to last the month. Not doable. Soooo - I'm paying childcare and card a month in advance almost - both actually require payment after I get paid so will hold back £100 from card payments till next month and still make the £200pm I'm aiming at. Then its only (?) 7 months to get the card paid off. Quicker if I can put more towards it.
I've done it before when I bought a new kitchen and I'll do it again. It just hurts a bit when I've also got bonkers childcare costs on my own. Those will calm a bit when wee one goes onto school full days - the difference will go towards that card - I want shot of it!! You never know - ex may actually get a job one day and start paying maintenance!!
Still overpaying the M of course - but only enough to reduce to 10 yrs - my aim is to reduce that further but I need the card paid off and that emergency fund bumped up. My main worry just now is that I have to fold my business at the end of my financial year - I'll only just have paid the card off so no savings.
Gotta hope for more work and scratching through another year. Better still - decent profits again although the last time I saw them was over 3 years ago. Curse this recession. :mad:
Hey ho - better have another look at a spreadsheet...........they always focus me!!

remote_control

https://forums.moneysavingexpert.com/discussion/1157173

if the link doesn't work the thread is by Locoblade, my Excel spreadsheet. It is really really good as it tells you how much interest you save in each overpayment. Mine is out by a pound or two as it calculates interest monthly and my bank calculates it daily. it is great though!

I know we are in completely different situations but I did laugh with your daily interest, mines about £25 per day! (I'm a first time buyer in London).

Good luck! Its a fun addiction to have.

downsizer3

London house prices are bonkers - I'm in Edinburgh and its pretty lousy too! Thanks for the psreadsheets - loving these!!

beachie

dimbo61 wrote: »

Build up your emergency savings once you have cleared the CC debt and hope things get better.
Once your daughter is at school you should be able to reduce the childcare costs
Good Luck

Or even better...

Pay the minimum on the card bill each month and save the rest of the £200 in your rainy day fund in a cash ISA.

Make sure you do not touch it until your near the end of your credit card deal and then pay off in one go.

This way you are maximising the interest on your savings and the interest free period.

ViolaLass

Is the £300 a month on food feeding the carer as well? Even so, you should be able to cut that by at least £50 and in half if it's not feeding the carer too (we feed two adults on £150 a month).

downsizer3

Ooh - good point - I have an ISA I could put the money in and my new CC is with my bank - easy to transfer it across just before my 18month 0% deal is over. Top tip!!
I don't feed the carer - and am concious that my groceries bill is high. Actually thats my full supermarket bill so all sorts in there but I am going to keep a close eye on it. I've changed supermarket too - and am noticing a difference. Time to cut back!! I've been good this month - not spent nearly as much so far and hoping I can make a big difference there. In all honesty I was just buying what I fancied not thinking BUDGET till now!! ( hoping the waistline will benefit too...:j)
Thanks for your comments!!

downsizer3

I'll be glad when that new gate is in and paid for.
Trying to save whilst tackling 'must-do's' on your 'new' house is a tricky one but managing so far. Next thing before the winter, is two new downpipes. Urgh - what a rotten (literally) thing to spend money on!! Needs must - no point in having all that damp work done and still have the problem. Dry rot I can do without. Chased the quotes again today - am nervous about hearing the costs - at least its 50/50 with upstairs but still - I can mange £200/300 but any more and it has to be spread over two months - more srimping and scraping. Thats it after that though - I can relax after that ( apart from christmas - there always seems to be something).
Have a friend coming for dinner tonight - raided the freezer this morning - hope she doesn't expect a pudding!!! She is the credit card queen and always in debt but manages to muddle along. Never understand how people can avoid looking at debt but I'm too much of a worrier I guess. Too many sleepless nights!! Now to do something imaginative with a tuna steak and some couscous....

downsizer3

Yay! The kitten's insurance clicks in today (10 day period after taking it out) - so at least no bills will crop up there.
Have decided to tackle the wasps nest in the outhouse myself with a spray ( not looking forward to that one) but will save £35 on a rentolkill man.
Frugal shopping bill £54 so far for this month and not going back till Friday - all the biggies are bought so just fruit and veg from now on. Its soup season for me - nice and cheap.
Need a bottle of wine as gift for people we are staying with this weekend though - bah.
Boyfriend wants a new duvet and bed linen for his house - so am getting to shop without spending :j.
Ex still working - may enquire about maintenance payments soon - not had any for the two years since we split and he doesn't even look embarrassed. :mad: No shame that one but I will rise above it. Haven't contacted CSA as no point when he wasn't working and up to his ears in debt but every now and again I think I'm just a mug....hey ho - at least I get to have my child live with me eh?

SAMMYE_2

Welcome.

Firstly can I just say I think you are amazing. It must be sooo hard being a single Mum and you are a total inspiration.

For the childcare costs is there anyway this could be reduced? I mean how old are you parents? Could they not collect your daughter from School. My Nan used to look after me and my brother loads as youngster and we benefited so much from being around her and I imagine she got a lot of joy from having us around too?

Alternatively what about other kids parents they might be able to collect her perhaps they might do it for free as a favour or perhaps they might do it for a much more reduced rate....

Finally you could try and negotiate a better rate with your carer just say you cant afford it anymore and may have to look elsewhere or get your parents / ex to help out its worth giving it a go. Otherwise what about cutting back your hours a little as I bet for those few extra hours difference it wont amount to £800!

just a thought anyway.

downsizer3

Oh thanks sammye.
The childcare is breathtaking isn't it? I'm self employed so the childcare is important from a flexibility perspective - I often have to travel. It drops soon to £700pm (woo) as my D will be going to school for longer from mid-September.
My parents are in their late 70s ( I'm a older mum!) and are both unable to drive so not much help there - they are great for illness type emergencies or the odd day here and there though and I'm grateful for that ( despite the dropping off / picking up saga that goes with it!!)
I'm hoping that this level of childcare will be short lived - a couple of years maybe - then my D will be old enough for after school clubs etc. They finish at 5.30 though and I can't get home till 6.15 so all brings its own issues. Bah!
I've only just started with this carer and am thinking of reducing the hours further once we settle into a routine - just as you say - there has to be a way of reducing this cost - its a huge chunk of my salary.
Thanks for the tips though - I'll definitely look into them - gotta manage somehow eh?