My debt free diary

techsavvy_2

I have found this site a real inspiration and have been reading all the posts and challenges. So I am not all over the shop I am starting a diary for myself so I can hopefully look back at Christmas 2012 with plenty of no spending days, half the grocery bill, no debt and a couple of sealed pots.....

:cool:

techsavvy_2

Just to recap.

So I need to repay £20k of credit card in 1 year. Previously never had a focus on saving, just lived thankfully largely within our means but there was clearly a lot of money getting wasted each month. To be at this point and have no savings and only some share scheme shares from work is a bit shocking.

I have joined the pay off all your debt y Christmas 2012 challenge and will join the no spending day challenge and sealed pot challenge.

Main next steps are:

1) Spending diary started. Expenses free app downloaded to both our iPhones (ouch these phones have cost us a lot over the last 2 years) and both keeping a daily track of all spending.

2) Switch mobile contracts to a sim only deal which should save us £40 per month!!!

3) Look at mortgage switch within same provider as deal ended 4 months ago and now on the svr and could save £120/ month by fixing for 2 years fee free. Great deal for existing customers.

4) get a haircut...

5) NEED a new computer as old one is officially dead and on,y got access on the iPhone. Major change in attitude here is clear as previously would have just gone and bought one....!!!!! Now going to carefully consider options. Seen good deals for ex business pcs but are they a false economy? More research needed.

6) sit down around table with oh and talk meal planners. Need to get tat groce bill down.



That's it for now

techsavvy_2

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 3056
Partners monthly income after tax....... 830
Benefits................................ 188
Other income............................ 0
Total monthly income.................... 4074
Monthly Expense Details
Mortgage................................ 1028
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 12
Council tax............................. 179
Electricity............................. 60
Gas..................................... 75
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 18
Mobile phone............................ 75
TV Licence.............................. 12
Satellite/Cable TV...................... 49
Internet Services....................... 15
Groceries etc. ......................... 590
Clothing................................ 60
Petrol/diesel........................... 110
Road tax................................ 18
Car Insurance........................... 48
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 16
Pet insurance/vet bills................. 0
Buildings insurance..................... 18
Contents insurance...................... 12
Life assurance ......................... 49
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 25
Entertainment........................... 60
Holiday................................. 135
Emergency fund.......................... 0
Bank charges (account with benefits).... 18
Window cleaner (the outside!)........... 8
School meals............................ 37
Kids clubs.............................. 146
Total monthly expenses.................. 2943

Assets
Cash.................................... 0
House value (Gross)..................... 220000
Shares and bonds........................ 6000
Car(s).................................. 20000
Other assets............................ 0
Total Assets............................ 246000

Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 136000...(1028).....4.99
Total secured & HP debts...... 136000....-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
CC 1 (15 months 0%)............14680.....280.......0
CC 2 (12 months 0%)............5350......100.......0
Total unsecured debts..........20030.....380.......-

Monthly Budget Summary
Total monthly income.................... 4,074
Expenses (including HP & secured debts). 2,943
Available for debt repayments........... 1,131
Monthly UNsecured debt repayments....... 380
Amount left after debt repayments....... 751
Personal Balance Sheet Summary
Total assets (things you own)........... 246,000
Total HP & Secured debt................. -136,000
Total Unsecured debt.................... -20,030
Net Assets.............................. 89,970

techsavvy_2

Just been working out my spending diary - so far in January I have had 9 NSDs. Luckily I was previously organised in the dim past to have all our direct debits come out on either 1 day at the start of the month and 1 day towards the end of the month and taking a pack lunch in for work has been great. Oh has not been so good due to being main shopper for the family but i will concentrate on myself for the nsd challenge as that is where most of the frittering away was done tbh./ work lunches / vending machine etc,

techsavvy_2

Been out and walked to a local hairdressers not the one I usually use and got a cut for £10. Brisk walk too in the cold. No greggs or sweets to munch on the way home. happy with that.

Coxy11

Hi there,

Just to say I think it's great that you have a goal in mind to get those pesky CC's paid off by Christmas :T

Just looking at your SOA, you may find the Grocery Challenge thread useful in cutting down your foodbill . We too have 2 adults and 3 children, and I have set a target of 500 this month, which I'm doing okay with. Our kids are 13, 10 and 8 and eating us out of house and home :rotfl:

Also your Sky tv looks high - I take it you have sports and films? Do you really NEED these. I have 37 going out per month to Sky for their family package plus broadband, but thinking of changing to FreeSat. 200 for the box but thereafter it's free (we don't have an aerial at our property). Just a thought.

Will check back occasionally to see how it's going.

Good luck

techsavvy_2

thanks for the message,

funnily enough we are just back from the shops alone, kids entertained all afternoon by gran, and we set a target of £500/ month which works out at £115 a week. We planned it out and took 2 and a half hours to go round the shops which has been exhausting tbh but looks like we are on track. Going shopping without the kids wanting everything in the shop is an eye opener.

techsavvy_2

A bit tired today as was up late doing lots of cooking. We had a freezer clear out of all the old stuff in there that was well past it to make room for the new stuff. Made 20 frozen servings of soup from scratch as well as pasta sauce/pizza topping so really happy with that. thats a good few days food for not a lot of cost at all. bought a cooked whole bbq chicken for dinner last noght on special. that and mash, with carrots peas brocolli and gravy was a great meal for the 5 of us, total cost about £7 with a reasonable amont of chicken left over. picked all the chicken and put it into a tib in the fridge. this morning havign a look and decided to put the leftover chicken into the mini food processor with some oilve oil and a big chunk of peanut butter. turned it into a coarse chicken spread which went down an absolute treat on wholemeal toast. A nice healthy start for us all. cant believe how frugal you can be with food.

also went to lidl last night and that was good. the meat in there was v cheap we managed to get pork chops half the price of other supermarket. good for household cleaning stuff to.

techsavvy_2

ps just going to mums to get her delia book to learn how to cook pizza dough from scratch and make healthy(er) pizzas as know what is going into the base and the sauce, and cheese and topping can be controlled by us!

techsavvy_2

should be on track for a £450 grocery month in Jan.

techsavvy_2

although yesterday was a BSD - a big spend day.......lol