Clearing debt with a toddler, no support and a house to keep on top of!

mmummy21

Ah, scrap what I said earlier. I added Argos in when I didn't mean to.

I actually have £435.08.

So £400 for my £100 a week. And £35.08 to Argos. Now just got to sort my own account!

Aiming_High

You'll get there, don't forget things will get easier when you get your first pay packet again. I'm sure you'll be able to keep it together until then, just cut out the treats. I've saved a fortuned by cutting out my coffee or 2 a day. think before you spend.

mmummy21

Just looked at my own account. I'll get paid over £1100 plus my tax credits and child benefit which will really let me clear some debt. I should really contribute much more to the joint account this month but I refuse seeing as I have supported my OH with my overdraft for the past 3 months so I'm using the extra to clear the debt I ran up for him.

So -

Salary 1125 (it might be more than this if I have to pay less tax as not been working for ages :-s)
CB 81
CTC 41
Total 1247

Joint A.C 300
Contact Lenses 9.98
Loan 69.07
Phone Bill 37.5
Capital One 65.65 PAID OFF
Next 50 (well will already paid this but will replace in joint account)
New Look 90 PAID OFF
Overdraft Fees 30
Car to Nana 100
Xmas Shopping 200 (unavoidable as I haven't saved)

Macy's Bday 50 (seems so little to be spending but she has loads and it's her first birthday and I figure I can make it up to her next year when I'm debt free)
Me 100 (treat since I have gone without for months and months, I'm getting new underwear, spending money and an outfit for a halloween party, some new make-up and a
Carseat 50 (unavoidable as she's outgrown it)
Anniversary 30 (present for OH)

Total 1182.2 - the extra will go into a secret emergency fund

So at end of October I will have just £1000 overdraft, £800 owed to my Nana, £178.99 to Next


November -
Salary 742
CB 81
CTC 41
Total 864

Joint A.C 300
Contact Lenses 9.98
Loan 69.07
Phone Bill 37.5
Car 100
Overdraft Fees 31
Xmas 200
Next 66.45

Spare 50

Total 864


End month

Overdraft 1000
Car 700
Next 118.54

Not sure what I'll do with the spare £50. I'm not planning anything for it just yet as I just know something will come up!

Thank you so much for your encouragement!

Tracey2609

I agree with what Natsplatnat mentioned earlier - about withdrawing out all of the money from your joint - apart from what you need for your direct debits. Not quite sure on your finances - but I leave upto £20.00 in credit (over and above the direct debits due to go out) in our joint account and have reduced our overdraft down to a more manageable £100.00 (but to be fair we rarely use it). I've withdrawing the money in this way for at least a year, I have a separate envelope for each week and also one for our electric meter. It works for me - I even have a few coins left over at the end of the shopping trip, Which I put into our "emergency pot" We use internet banking and I have a list of all on the money that is due to come out of the account, the amount and when.

I hope that this helps (but I've not long taken my sleeping tablet and the words are starting to blur a bit !)

Tracey

mmummy21

I've done great I think. Got the budget sorted.

£100 for this week.

Done shopping online with a £10 off voucher. Coming tomorrow morning. Total cost £59 which included all our basic food, meals, cleaning and toiletries we need for the week. I also stocked up on a couple of tins to put in the cupboard for emergencies. Have enough nappies, cat/dog food and litter to last.

Mum is coming out so I will withdraw her £10 and give it to her today.

Will take the car and put £20 petrol in which will last the week.

Then I will withdraw £10 which has to do swimming (£3.10) with the little one and a mid-week shopping top up if I need it. Anything left over will go into a sealed pot for emergencies if we have nothing left at the end of the month and if not it can be paid towards Argos!

I also got a cheque from British Gas as we've just switched to Npower and apparently we actually overpaid which rather confuses me but never mind! Total is £63.57 and I haven't decided what I'll do with it yet.

Should really pay it to Argos but I could also get some more birthday presents for the little one. Hmmmm. Need to think before I spend it!

lindens

mmummy21 wrote: »

Then I had to get teething powders for the little one at nearly £5. Calpol at around £4.

You can get these on prescription from your doctor, and these are free!

lindens

mmummy21 wrote: »

It's harder as we don't have an oven (I can't afford to get it fixed this month either :-( ).

If you add up all the money you have spent on takeaways (which you somehow find the money to buy) I bet you could have fixed the oven!:o

natsplatnat

YAY! Well done mmummy21!

And what a bonus getting a cheque back from BG!!

Now, and this is going to sound really rather harsh, it is your little ones 1st birthday(I think?) - I know just how easy it is to get carried away and want to buy them heaps - afterall.... it's their 1st! But realistically, what do they actually want/need at that age? I would suggest that unless there was something small that you wanted to buy (maybe as a keepsake of their 1st birthday) I would put the money towards clearing your debts. The chances are that if you have friends and family around you, there will be plenty of presents anyway! At the end of the day, birthdays for your littley are only going to get more expensive as they get older!!! (don't mean to sound mean!!)

mmummy21

lindens I could have bought a whole new oven with the amount of ready meals and takeaways I've bought since it broke!!! It's supposed to be under warranty but MIL lost the receipt but has said she will go into the shop and see if they'll still honour it so I'm holding out getting it repaired as it might be free and I'm just about managing with my Mums slow cooker.

I'm just going to put the cheque from BG into the joint account and leave it there. As my own contribution doesn't go in until the 15th October and I think we might go overdrawn slightly between now and then as all the DDs come out at the start of the month. I also got a small overdraft limit of £50 on the joint account to avoid the £5 a day charges in future. I won't tell OH about it though as he will use it!

Now I have paid the rent etc. and will wait until the 15th to pay Argos as it isn't due until then. Shopping ordered, nothing else to do now except put petrol in the car, give Mum her tenner and take a tenner out for myself. And that's it until next Friday - going to give every single credit card and bank account card to a trusted friend to keep for me until then and only give it back to me if a real emergency was to come up. Now just to decide on the trusted friend!

natsplatnat - You're right about the birthday. I have already budgeted £50 from my own salary anyway and she has million. So with £50 I can get her 1 big toy I wanted to treat her too and a few books etc. to wrap. Family are all spending a fortune on her so she isn't missing out! Thank you for making me feel less guilty!

mummyroysof3

you doing so well at keeping it together..keep it up

couple of things that struck me though..spend less for anniversary and DD birthday...one wont notice and other should be more understanding as he is causing part of the problem..hope thats not too harsh but we spend max £10 for anniversay and i dont spend £50 for birthdays for my 3 and they older at 6, 4 and 2

good luck