Hypno's kick up the backside debt diary....

hypno06

So here's to July being a grown up month :beer: Surely we *must* be able to do this!!!

Karmacat

Things do sound tight for you, hypno - wish it was easier. I've managed to keep a spending diary (of my weekly cash and all food shopping however its paid for - train fares/petrol for work, advertising, stuff like that, doesn't count) but still haven't analysed it. I suspect the only leeway I really have is the odd coffee, and planning my buying of birthday cards etc so I don't spend a couple of quid too much (taking library books back on time would help too!). I suppose my purse is like one portable jamjar!! Good luck with said jamjars!

pania

Morning hypno, hope you're ok. Your doing great with the organisation of things. especially the jam jars:j Keep trying to get OH to take the money out and leave it here for me so i know how much we have, you've reminded me to give him a kick for it today, thankyou!!

Re the DMP, i came across an old post of yours on page one of seaxwyns diary. Really struck a cord after the other day. Pop back and have a look, i think you'll see what i mean;) Stick with it as you are at the moment, it sounds asthough this month your on a downwards trend with the debt which is fantastic! My main debt has come down but the mouldy stuff seems fairly static. done some more mbing but the money seems to go out as soon as it comes in.

Good luck with the MOT and let us know how it goes, i hope it will all be fine for you. :beer:

Cheeky question, any chance you can post the flapjack and cheese straws on the old style board?

Have a great day.
P
XX

hypno06

Thanks KC!

If we can manage July and August with these budgets then when we get the next student in September, it should be an absolute breeze as this provides us with an extra £480 a month in term time!!!

The aim is to be able to manage without the student's income, so that we can use the student's income for overpayments, or holiday or something. Also, there is nothing to say that there will be any students in 2008/9 so although this will be our 4th year of having the income, it is never guaranteed for the future, so we need to be able to cope without it, even if it is hard.

Storm

Hi Hypno,

Just been catching up as I wasn't around over the weekend - the Norwegians sound like a nightmare, happy anniversary, and I'm thinking I might have to make cheese straws after hearing you mention them...

I'll keep my fingers crossed for your MOT today - hopefully it will pass with flying colours (or at least only need something minor!)

Seaxwyn

hypno06 wrote: »

I even considered last month forgetting the snowball and doing a DMP to take a bit of the pressure off.

I'm sorry if this is too nosy and personal - ignore it if it is - but do you ever think of getting not a DMP but a job?

I'm asking in the hope that you will give a good, robust, affirmative, hypnoesque reason for continuing with self-employment with all its downsides - like you did about the dmp question.

Someone wrote on my diary "all self-employed people are in denial" and sometimes I wonder if that's true. Why do we persist with this difficult life when we could probably pay our debts off a lot faster by going out to work?

hypno06

Hi all, and no Seaxwyn I don't think it is too nosy.....so here goes...bit of self indulgent time, but then it is my diary so I can do what I want :j

My employment history.........

Always been working - ever since I was old enough to have a paper-round. My parents both worked hard but there was never any spare cash around so I was brought up on the basis of "if you want it, you earn it". Went on to have the usual Saturday and Holiday Jobs. I left college before my A levels because a job that was too good to refuse turned up. I then studied for my A levels on the train on my way to work and took them at the same time as the rest of my class, and did pretty well, even if I do say so myself!! Never wanted to go to uni, wanted to be earning instead......went to college day release and qualified in Law. Got married at 19 and bought our first house when I was 18! At the same time interest rates were 16% so we both had to have second jobs...I worked at the law firm 8.30 to 4.30 then worked 5-9 at the local factory and every Saturday at Littlewoods.

I had 6 months maternity leave with DD but worked up until the day before I had DS. Had an enforced break after his birth due to a section but was back behind my desk 6 weeks later.

Got the opportunity then to become a stockbroker - things like that don't happen every day so I grabbed it.....thereby entering the 10 most stressful years of my life. Took my first stockbroking exam when DS was 6 months old. Carried on taking stockbroking and related exams (eg an MBA!!!) until 2 years ago. Work started 7.30, kids had a nanny or a childminder. Work finished at 5 but you never really switch off - US markets don't finish until 9.30, Asian Markets work through the night.........even on holiday you are always looking for internet connection to keep on top of things, or at the very least an English Speaking Newspaper to try and find out how the market closed last night.

Don't get me wrong, the buzz of the job is fantastic, and I really enjoyed it in the main.

All this, and you are constantly fighting the equality thing. Women in the City (hope I don't offend anyone here) have to work doubly hard to prove themselves. It means that you end up studying more (hence the MBA) and missing out on the kids stuff because you are scared stiff that they will say that you can't do your job properly. So I missed school sports days, sent the children to school when sick etc because I knew it would be "bloody woman" if I had done otherwise.

Of course, at the same time, we accrued debt - all due to a house that we bought that despite having a full structural survey, literally needed to be rebuilt. The house from hell......:mad: Eventually we sold it because we hated it so much but of course couldn't pay off the debt so we had to carry it forward.

about two and a half years ago I realised that this couldn't continue so I decided to go down the equal opps route. I had meetings with directors with personnel etc etc and lots of false promises were made. Foolishly I believed them so carried on, signing up for yet another qualification that no-one else had simply to prove how good I was.

The week my new books arrived, my Dad died. Age 55, Pulmonary Embolism. One minute here, the next gone. No warning, seemingly in a low risk group etc etc.

Suddenly I wondered what on earth I was doing. At the same time I was sending my daughter to school every day with a kidney problem simply because I could not afford to take the time off and look after her. (when I say afford, I don't mean financially, I mean career wise). How awful is that!

So with a whole new perspective on life (and death) I decided to re-train and to go it alone. You may think that I am bonkers, but rather than the six figure salaries and bonuses you assume stockbrokers to get, after 10 years and being very qualified, I was only earning £27500 and my biggest bonus had been £5000.........so in fact not a "huge" amount to be risking by setting up on my own, which I did just over a year ago.

I received £45000 from my Dad's estate which went straight off the debt meaning that my monthly payments instantly reduced and the amount I needed to make from Self employment to cover payments became as achieveable as when I was employed with the bigger debt (IYSWIM). Also a lot of costs involved in "proper work" such as the morning latte, the suits, the lunch meetings etc have evaporated.

I now get to see my children for the first time really. I get to ask them how their day was when it is still something they want to talk about, not 4 hours after they have got home from school. If they are ill, which sadly happens with DD, I can re-arrange clients to look after them. Holidays are spent at home now rather than endless holiday clubs.

So, hope I have explained something about what I do and why! The risk involved in being self employed in some way gives me the buzz that the risk of the market gave. Sometimes I think about getting a job that has no stress (if such a thing exists) but I think the salaries that come with that sort of job would leave me no better off, and just very bored!!

I gather that my professional body has given me a "window" of 3 years so that I have chance to go back should I want/need. At the moment I am happier doing this, and unless the salary was significantly more than the one I left on, it would be no contest.

Sorry for the long long post. hope you are all still awake!!

Seaxwyn

Wow thanks hypno - very interesting post - so much so that I'm going to be late picking kids up from school.

I'm having a bad day self-employment wise so will probably have a whinge later. Must dash!

hypno06

Car passed its MOT :j But I was running late as my client was a few mins late, so literally running to the car tripped over my own feet and landed flat on my face. Grazed chin (v. attractive), shoulder, knees, and hands!!!!!

Of course I was then even later than I would have been because I had to clean up etc etc!

More haste less speed.........

dreams_R_free

Thanks so much for posting your mini-autobiography:T .

What an amazing woman you are! Seriously, I was full of admiration for your debt-busting successes but now I know more of your life and working background I'm 'gobsmacked'.

I'm sure others will agree too that you have a wonderful 'way with words'. Have you ever thought of writing as another string to your bow? I know...... not enough hours in the day etc etc:eek:

:A :A :A :A :A :A :A :A :A :A

P.S. I'm really pleased about the car. I'm tempted to say 'have a nice trip' :rotfl: :rotfl: but it's in poor taste! I hope you're not too shaken up. My car's MOT is next Tuesday and I'm more worried than usual as the poor old girl's been a bit neglected lately:o