Getting clarity on my finances

fantastiyk

Well got insurance sorted. My current provider offered the best deal in the end.
Have just reshuffled my SoA as our income went down over the summer.
Good news - our expenses also went down.
Income £1357
Outgoings £1341
leaving £16.83 a month to play with :money:

It may not seem much to others but compared to when I first started on here it's a big change. I was around £35 short every month. I have also factored in £100 per month to pay off our debts. And after keeping track of all expenses and income since mid May when I joined this forum, I think I've allowed for pretty much everything. (fingers crossed) There will still be some juggling for the next few weeks as I'd slipped up on putting money away for things over the summer, but I hope to be back on track soon.

I'm putting together some things for the next eb@y free listing weekend as I think it'll help to keep bringing the debt down.

Today is day 78 of 1 debt vs 100 days and it would be great to make a good reduction in it before the next 22 days are up!

It really helps me to keep reading the progress of others on here as it reminds me to stop and take a fresh look at our debt, our progress and to renew our motivation to keep at it.
Thank you to everyone on here who comes on to share how they're getting on and to help gee me up every now and again

mamato3

That's great you got your insurances sorted and big hoorays for getting your ebay items on You'll be addicted in no time! I've listed a few items yesterday but need to iron the rest of the items today! Would like to make about £50 from it so fingers crossed!

Even bigger hoorays that you now have suplus funds each month! I really need to do an updated SOA as some of our bits and pieces have gone up and down since I started in February.

It's great to see all your hard work paying off

fantastiyk

Day 87 of 1 debt vs 100 days - only 13 days left!!!!

Today I managed to make a payment to the cc on the above challenge and my new total is £230 paid with £230 to go :j

I know it was our smaller debt but its also the one with the bigger interest rate :money:

I am not sure if I will complete the full challenge in the time left but I know I am getting somewhere with this debt. It has been a motivating challenge, and at times difficult and disheartening when I can't magic money out of thin air but the other posters have been great and I feel like a proud mummy reading their posts about making yet another payment.:j

I know things are very tight for us at the moment but we have still made reductions in our debt since joining on here in May - I don't think I could or would have done as much if I hadn't joined and joined in with the posting also. So thank you MSE :T

fantastiyk

Was posting over on Mamato3s diary, and realised I need to put it on here where I can come back and hold myself accountable:

My plan is to finish paying off cc 2 that I'm currently doing on the challenge "1 debt vs 100 days", then pay for Christmas, then move on to cc1 which is my bigger debt but a lower interest rate than cc2.

Its day 88 of the "1 debt vs 100 days" challenge.

If everything goes to plan I should have a few big payments at the end of next week/ start of the following week that should reduce this total well below the £230 it currently stands at.

mamato3

I think your doing amazingly well! Your debt is going down which is fantastic! And you're right these boards are so good at keeping the motivation going I wish I'd found them years ago!

fantastiyk

I have completed my first challenge of MSE

1 debt vs 100 days chapter 9

paid £460/£460 :j

It has been such a rewarding feeling. I recommend it!

Am going to next part of my/our plan which is to pay for Christmas. Nothing fancy just a small token for each of the kids, they all understand that its not good for us to live with this debt at this time when things are so tight. I realised last year that I don't need to do all the cards - that people dump in the recycling bins anyway. I just send them all love and know that I don't be offended if I don't get a card and I can't change it if others are offended if I don't send one. It really isn't worth our family living under the strain of debt in case other people's feelings might be hurt.

Might need to stock up on some food also. We have been living on beans - and toast and whatever was left in the cupboards and freezer. We really wanted to get rid of this debt, and it was worth it. Though some fruit and veg would be lovely. Roll on pay day!!

mamato3

:j:j:j:j:j:j:j You get a a whole row of litle happy dancey smilies!!! Big congrats on completing 1 debt v 100 days!!! I hope to do this after christmas and you've just inspired me even more!!!

You're so right about Christmas it really should be more about spending time with people and just enjoying the sentiment of it it's sad that it gets way out of control sometimes!

Anways another little smilie me thinks :j well done again!

fantastiyk

Thank you Mamato3,
Loved the smilies!!!

Am still basking in the accomplishment. Had rounded the bill up to the nearest pound when making the final payment so hoping that should cover any last minute interest - will know soon when the cc statement appears.

Otherwise, it's been pretty quiet here. Not much money to do anything with, but then we did throw it all at the cc debt.

Am keen to get on with saving for Christmas but will have to be patient. The money that is growing on the trees needs time to grow into bigger notes

Think I will leave my signature up for a little while longer - it feels so good just to look at it. :j

fantastiyk

Update:
LBM May 2012 £3569

Now: £2700
cc1 £[STRIKE]2500[/STRIKE]£2400
cc2 £[STRIKE]669[/STRIKE] £0
overdraft £300


Only 2 debts to go + interest

unfortunately cc1 is the big one but at least its going in the right direction - DOWN !!!

mamato3

Ohhhh those trees that grow money could I have some of those seeds plzzzz!