Keeping up appearances.......

Honey_Bear

You remember that quote a few months ago, when someone said if there were two ways to interpret a comment, one of which was offensive and the other wasn't - I meant the other one? If my comment above about 'hobby' / lifestyle budgets versus food budgets sounded sarcastic, or snide - it wasn't meant that way.

I'm very conscious that right from the word go, you've always said that 'Keeping up appearances' was important to you as you were paying off the debt so I can assure you, I'm not in any way criticising your choices.

When I cut up the credit cards 18 years ago, remortgaged and started living as frugally as necessary within my budget, the food budget was the one I slashed first and most drastically. For about eighteen months the cat and I had a budget of £4 a week - and we both lived surprisingly well on it, although I have to say that there are flavours of sandwiches that freeze better than others. Whoopsied wholemeal bread was always a godsend, but ham and cress sandwiches don't freeze that well! (I used to make them on Sunday nights for the whole working week.) Eventually things eased, but I realised it could be done in an emergency. You'll find a way, and be surprised at how straightforward it is once you get your head around it.

What I keep forgetting to say is that I'm seriously impressed with you managing not only to stop the out of control juggernaut and turn it around within six months, but also reduce your debt. 2.35% may not sound much to anyone who has never been through the process but, my goodness, you've covered some ground since January. If you calculated how much your debt used to increase every month and added that percentage to the 2.5%, you'd get the true measure of how much your spending pattern changed.

I'm really pleased that your strategy is working and paying off: literally!

Tommymax81

Hi

I reckon that you would be able to remortage all of your unsecured debt and still end up with a mortgage repayment of no more than £900 over 15 years. I can see from you SOA that you are paying out more like £1500 at the moment on morgage and CC debt so it may give you a bit of breathing space.

I totally get what you mean about preferring to keep debts to yourself. My partner know all about our debts but I can see how at times it would be easier if it was just me sorting it out.

Good luck!!

MatyMoo

*creeps out of lurking mode*

Doesn't Martin :money: suggest that you don't turn an unsecured debt in to a secured debt?

Even though you have the equity in the house it may not be the best way of doing it

*runs like hell back to lurking *

Piquant_2

MatyMoo wrote: »

*creeps out of lurking mode*

Doesn't Martin :money: suggest that you don't turn an unsecured debt in to a secured debt?

Even though you have the equity in the house it may not be the best way of doing it

*runs like hell back to lurking *

Yes he does. Get back over here out of the lurk corner! Mrs H, don't let this lurker get away, she's given me some excellent advice and is good fun too, wonderful added bonus!

MatyMoo

Piquant wrote: »

Yes he does. Get back over here out of the lurk corner! Mrs H, don't let this lurker get away, she's given me some excellent advice and is good fun too, wonderful added bonus!

Lurking around and reading a fair bit but not posting too much at the mo. Thanks for the vote of confidence in my ramblings, sitting here feeling quite smug but with very rosy cheeks

HappyNow

Honey_Bear wrote: »

You remember that quote a few months ago, when someone said if there were two ways to interpret a comment, one of which was offensive and the other wasn't - I meant the other one? If my comment above about 'hobby' / lifestyle budgets versus food budgets sounded sarcastic, or snide - it wasn't meant that way.

I'm very conscious that right from the word go, you've always said that 'Keeping up appearances' was important to you as you were paying off the debt so I can assure you, I'm not in any way criticising your choices.

When I cut up the credit cards 18 years ago, remortgaged and started living as frugally as necessary within my budget, the food budget was the one I slashed first and most drastically. For about eighteen months the cat and I had a budget of £4 a week - and we both lived surprisingly well on it, although I have to say that there are flavours of sandwiches that freeze better than others. Whoopsied wholemeal bread was always a godsend, but ham and cress sandwiches don't freeze that well! (I used to make them on Sunday nights for the whole working week.) Eventually things eased, but I realised it could be done in an emergency. You'll find a way, and be surprised at how straightforward it is once you get your head around it.

What I keep forgetting to say is that I'm seriously impressed with you managing not only to stop the out of control juggernaut and turn it around within six months, but also reduce your debt. 2.35% may not sound much to anyone who has never been through the process but, my goodness, you've covered some ground since January. If you calculated how much your debt used to increase every month and added that percentage to the 2.5%, you'd get the true measure of how much your spending pattern changed.

I'm really pleased that your strategy is working and paying off: literally!

Hi Honey Bear . Noooooo, of COURSE I didn't think you were being sarcastic or snide. I do remember that lovely quote, it was 'if there are two ways of interpreting something I said, and one of those ways upsets you, I meant the other one'. I do sometimes worry about saying the wrong thing, or phrasing a comment badly and offending someone, but everyone on here is so lovely and I always assume comments are meant kindly, just as my own always are .

Wow, £4 a week for you and the cat, that's going some. I could probably manage it for an odd week, but for eighteen months - just wow! I don't eat meat so will never have to suffer frozen ham and cress sandwiches, but I do bulk slow-cook my favourite soup and freeze that in individual portions, then just grab one as I set off for work in the morning. With some whoopsied bread that makes for almost free lunches. On Friday Little Miss Happy comes home for summer from uni, and Master Happy is already here, so there will be four of us to feed this month out of the £60. I'm looking on it as a challenge - not just to manage it, but to manage it without the family even noticing!

Thanks for the comment about me stopping the juggernaught. When I feel frustrated by my slow progress, I have to remind myself of how things would have been if I hadn't had my LBM and you're right - that's the true measure.

HappyNow

Tommymax81 wrote: »

Hi

I reckon that you would be able to remortage all of your unsecured debt and still end up with a mortgage repayment of no more than £900 over 15 years. I can see from you SOA that you are paying out more like £1500 at the moment on morgage and CC debt so it may give you a bit of breathing space.

I totally get what you mean about preferring to keep debts to yourself. My partner know all about our debts but I can see how at times it would be easier if it was just me sorting it out.

Good luck!!

Hi again Tommymax, thanks for returning .

I had a quick look on Nationwide's website and my very rough figures show that in December we could keep our remaining term of 17 years and have repayments on our full debts of £838. Tempting, but there are two reasons why I have (probably!) decided against. Firstly, as Matymoo and Piq have mentioned below, the bulk of my debt is currently unsecured and I could be making a big mistake switching it to secured. Although we do own our rental house outright (worth approx £80K) so I suppose that would reduce the risk. The second reason is that the building society probably wouldn't lend it to us!! Mr Happy is 55 yrs old now and has quite bad arthritis in his shoulders. He has a physical job, which he already struggles with sometimes, and realistically he will probably be viewed as a high-risk borrower. So it is probably not the best route for us, but it was good to check into other options, so thanks very much for the suggestion .

I see you have started a thread on the main forum - I will be along later to poke my nose in!

HappyNow

MatyMoo wrote: »

*creeps out of lurking mode*

Doesn't Martin :money: suggest that you don't turn an unsecured debt in to a secured debt?

Even though you have the equity in the house it may not be the best way of doing it

*runs like hell back to lurking *

Piquant wrote: »

Yes he does. Get back over here out of the lurk corner! Mrs H, don't let this lurker get away, she's given me some excellent advice and is good fun too, wonderful added bonus!

Hello Matymoo, thanks for popping by and I hope you will stay . Piq says you give excellent advice and I am regularly very much in need of that . I have seen your name up and down the board and I will do a little light investigating/stalking to find out exactly what 'Mike's mob' is!

I think you're probably right about keeping the debt unsecured. In the post above I've just explained that the building society mightn't lend us that much anyway, and even if they did we're probably in enough sh*t without me risking the house! Always good to look into the options though and for some people it might be the best move.

Ooh look, 8:43 am and I haven't started work yet. Best get on, back later x

HappyNow

NOW EXPIRED - IGNORE

For anyone testing the SavvyCircle Fairy dishwashing tablets, there is a really good offer on at Tesco BUT IT ENDS TODAY.

As part of the kit, we each got ten recipe booklets to hand out, each of which contained a £3 voucher for the tablets, to be used only at Tesco. Tesco currently have the thirty pack of tablets on half-price offer, down from £10.20 to £5.10. With the £3 voucher, that brings them down to £2.10 for thirty tablets - or seven pence each!! Even the Tesco value ones are six pence each and the Fairy ones are much better.

I picked up two packs last night, and it definitely works, so if you're in/near Tesco today it's worth doing (make sure you get the 30 pack though, not the 20 packs, and make sure they say Platinum on the label).........

Hopelessly_Hopeful

HappyNow wrote: »

For anyone testing the SavvyCircle Fairy dishwashing tablets, there is a really good offer on at Tesco BUT IT ENDS TODAY.

As part of the kit, we each got ten recipe booklets to hand out, each of which contained a £3 voucher for the tablets, to be used only at Tesco. Tesco currently have the thirty pack of tablets on half-price offer, down from £10.20 to £5.10. With the £3 voucher, that brings them down to £2.10 for thirty tablets - or seven pence each!! Even the Tesco value ones are six pence each and the Fairy ones are much better.

I picked up two packs last night, and it definitely works, so if you're in/near Tesco today it's worth doing (make sure you get the 30 pack though, not the 20 packs, and make sure they say Platinum on the label).........

Morning

Convinced me. I am going to pop in and see if they still have some!

Have a good day

HHx