gingernutbizkit's dfb blog

gingernutbizkit

Yesterday I received some great news. Our electric company has !!!!!!ed up our bill and is now refunding us £400

Unfortunately, today our car broke down and so did the boiler

Why is it always the way???

gingernutbizkit

More bad news

I spoke to the guy at the garage and he managed to fix the problem with the exhaust (not serious afterall) but has said that the engine is very worn and will not get through the next MOT. There is nothing they can do so basically we will need a new car. He says I can drive it but must not do long journeys and need to leave the window open or the fumes will poison me!!!

The MOT is due in May we we're keeping everything crossed that we will make it until then. At this stage we have no idea where the money will be coming from.

Feeling very down. It seems every time we get a break something happens and puts us back again.

gingernutbizkit

On a more positive note....

finally got around to registering at the library today. Have to say that it isn't the best one I have been to. That being said, I borrowed two novels that would have cost me £12 so I guess that's a big enough saving already.

OH and I spend far too much on books and magazine and our library cards should help to cut the spending. My wife borrowed a CD too for 50p that she was going to buy for £10 and she was chuffed.

I also borrowed 2 budgeting books. Pay your Mortgage in 2 yrs (which I am not overly impressed with) and 'How to Pay Less for Just about Anything' which is excellent. it probably doesn't say anymore than what's on this site but it has helped me to rethink some of our spending.

I'm going back to relook at my budget (again!) and make a plan of action to give us something more concrete to aim for.

gingernutbizkit

I completed a thorough budget plan last night and it really is no wonder we are so broke! We're paying almost all my salary on our debts - not including our mortgage :mad: I guess the good news is that once the chain have been released we'll have the money to start having a life Our aim is to keep focusing on the debts at the moment. Our kitchen loan finishes in January so that's another £90 spare and I think we'll have our cahoot loan paid off by March now which is 1 year and 3 months ahead of our plans when we first took it out. Since then the interest rate on it has risen from 5.9% to 16% :eek: so that has very much become the focus of our repayments. After that we can start to focus on the homebase debt £1700 interest free until June and saving for a new car.

It's pay day today and I have had some good news. Apparently we won a pay increase in April (before I started the job) and it has now been paid to us. I have also had my overtime and mileage come through as well as the money from overpaying the electric. Altogether I have been able to pay £746.50 off the cahoot loan which means it now stands at £850 :T :T :T

I can not tell you what I relief it is to see that debt in 100's instead of 1000's. Gonna phone my wife now and let her know. She'll be :j

gingernutbizkit

Wow! Our credit card statement has come through and it's £300 less than I had budgeted for. We have a cashback card that so far this year has gained us £90. We use it for shopping, groceries, socialising and petrol throughout the month. The idea is that we can then review the statement and see where the money has been going.

We've made a much bigger effort to cut back this month on groceries and not use the cars as much. We've only eaten out once and had no take aways.... although this is more to do with trying to shift some weight before I put it all back on again at christmas :rotfl:

Amazing how every little adds up. That brings our cahoot loan down to around £530 from £4000 in July :beer:

chevalier

WELL DONE! You have done a great job of staying focusses. Maybe it will inspire me again to attack Ebay with all of my[STRIKE] tat[/STRIKE] quality merchandise!

Best of luck with the house move.
chev

gingernutbizkit

thanks Chev

gingernutbizkit

Here's my current dilemma.......

I know that throughout Christmas the wife and I will get around £300 given to us instead of presents.

I told her yesterday that we would put that money towards our debts.... and watched her face fall

We have both worked so hard in the last four months. Should I use the money to move closer to being debt free OR should I treat my wife and let her spend the money on something she wants?

What do you think?

cbsexec

Have just read your whole thread and congratulate you at keeping at it.

I am slowly reducing my debt but it always seems a long way off but people like you inspire me to keep trying

Good luck

bananakinz

well done on that cahoot loan!

As to the Christmas money, what is it that your wife would like to get with ithe money? we all need/would like to have treats even when we're debt busting! Maybe get it after Christmas when prices go down or really hunt for the lowest price possible, or do a 50%, 25%,25% split to debt, wife and you?