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I don't need another skinny Latte

edited 30 November -1 at 1:00AM in Debt Free Diaries
670 replies 98.2K views
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  • SkinnylatteSkinnylatte Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Debt-free and Proud! Home Insurance Hacker!
    ✭✭✭
    At this stage, when things start to slow up I reminded myself that in June I had 9 debts, which I've now paid 3 of. So only 6 left to go.
    I've joined the 1 debt 100 days challenge to pay off the £1297 visa, signature duly updated.
    Today my total expenditure was £26.35. £24.90 on the remaining food and drink for the festival tomorrow, and £1.45 on a pot of tea as I met up with some friends. In the past I would have had a large latte (skinny of course) with a cake, and I would have insisted on paying for every-one elses too.

    So £71.87, spent on and drink for the weekend, although more than half of that was actually alcohol!

    Including the tickets this weekend has cost me £266.87so far, and I'm taking £200 cash but don't intend to spend it all. Expensive weekend, but the tickets were purchased pre LBM, and I can't say to DD that we can't afford to go, it's not her fault her mothers a noob with money.

    I read a tip here earlier in the week about keeping grocery shopping receipts and crossing off when you use something, that appeals to the list addict in me, and what a brilliant way to remind me what's left in the fridge.

    Well that's £223.63 left until payday on 27th, £200 of which is coming with me in cash for the weekend, lets see how good I can be!!
    When I get back its heads down paying debt.
    Till next week x
    Pay off Car Loan £17,047 £10580 by Christmas 2022

    Mortgage 1 @ 23/03/2019 [STRIKE]£101297[/STRIKE]
    £84457 16.6% DI [STRIKE]£6.95[/STRIKE] £6.15
    Mortgage 2 @ 12/04/2015 [STRIKE]£136121[/STRIKE]
    £100,546 26.1
    % DI [STRIKE]£9.13[/STRIKE] £6.07
    1st LBM 02/06/2013 £[STRIKE]21595[/STRIKE] Debt Free Day 27/03/2015

  • SkinnylatteSkinnylatte Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Debt-free and Proud! Home Insurance Hacker!
    ✭✭✭
    Woo, well had a great weekend, me and my daughter and my best friend and her son. The weather was fab, and more importantly I spent £117.30 which meant the whole festival weekend was £344.17 for the 3 of us. I also got some complete bargain christmas presents.
    This leaves me £106 over this month which is going straight off the credit card in the morning. Although if I hadn't gone at all then I could be paying off £450 this month
    I recently, pre LBM, joined a dating site, having been single for 18 months.I've got a second date tomorrow, although I feel in two minds abut it really. Should I really finish paying off my debts before I start looking for a guy, but then staying single for another 3.5 years isn't a great option either. Not sure about this one, what do you think?
    Pay off Car Loan £17,047 £10580 by Christmas 2022

    Mortgage 1 @ 23/03/2019 [STRIKE]£101297[/STRIKE]
    £84457 16.6% DI [STRIKE]£6.95[/STRIKE] £6.15
    Mortgage 2 @ 12/04/2015 [STRIKE]£136121[/STRIKE]
    £100,546 26.1
    % DI [STRIKE]£9.13[/STRIKE] £6.07
    1st LBM 02/06/2013 £[STRIKE]21595[/STRIKE] Debt Free Day 27/03/2015

  • SkinnylatteSkinnylatte Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Debt-free and Proud! Home Insurance Hacker!
    ✭✭✭
    Dear Diary,
    Yey, payday came, I paid £325 off the lowest card, aiming to clear this before Christmas, everything else is minimum payments.
    I need some serious no spend days in September.
    The date went well, very well indeed in fact, I wonder when would be a good time to tell him I owe over £16,000, give him chance to do a runner lol
    Pay off Car Loan £17,047 £10580 by Christmas 2022

    Mortgage 1 @ 23/03/2019 [STRIKE]£101297[/STRIKE]
    £84457 16.6% DI [STRIKE]£6.95[/STRIKE] £6.15
    Mortgage 2 @ 12/04/2015 [STRIKE]£136121[/STRIKE]
    £100,546 26.1
    % DI [STRIKE]£9.13[/STRIKE] £6.07
    1st LBM 02/06/2013 £[STRIKE]21595[/STRIKE] Debt Free Day 27/03/2015

  • SkinnylatteSkinnylatte Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Debt-free and Proud! Home Insurance Hacker!
    ✭✭✭
    My first NSD of September today :T
    Not doing to badly so far, although sticking to the food budget this month might be a challenge
    Fuel [STRIKE]£300[/STRIKE] £169
    Food[STRIKE]£150[/STRIKE] £72.56
    Extra Spends[STRIKE]£220[/STRIKE] £127.30
    I told my NFF (new found friend) about my debt, we decided to get all the skeletons out of the cupboard on date 3, doesn't seem to have put him off, but I did follow the confession up quickly with how much I earned :rotfl:

    I needed 2 prescriptions this week, £7.85 each :eek: They were free in Scotland.

    I've also started to save, I know your not supposed to save when you have debts, but I need to budget for holidays, christmas/birthdays and emergencies as these were often the source of my over spending. Now I have savings of £215 :T

    My birthday tomorrow, NFF is taking me out to dinner, I hope some-one gives me some money instead of a pressie!!
    Pay off Car Loan £17,047 £10580 by Christmas 2022

    Mortgage 1 @ 23/03/2019 [STRIKE]£101297[/STRIKE]
    £84457 16.6% DI [STRIKE]£6.95[/STRIKE] £6.15
    Mortgage 2 @ 12/04/2015 [STRIKE]£136121[/STRIKE]
    £100,546 26.1
    % DI [STRIKE]£9.13[/STRIKE] £6.07
    1st LBM 02/06/2013 £[STRIKE]21595[/STRIKE] Debt Free Day 27/03/2015

  • edited 5 September 2013 at 8:35PM
    [Deleted User][Deleted User] Forumite
    0 posts
    Eighth Anniversary 10,000 Posts Debt-free and Proud!
    MoneySaving Newbie
    edited 5 September 2013 at 8:35PM
    Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 1
    Number of children in household......... 1
    Number of cars owned.................... 1

    Monthly Income Details

    Monthly income after tax................ 2646
    Partners monthly income after tax....... 0
    Benefits................................ 81.2
    Other income............................ 0
    Total monthly income.................... 2727.2


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 650
    Management charge (leasehold property).. 0
    Council tax............................. 130
    Electricity............................. 40
    Gas..................................... 50
    Oil..................................... 0
    Water rates............................. 65 Over 8 months
    Telephone (land line)................... 65 this includes internet and Sky, in a contract until December - Get rid in December. You can then get it for a LOT less than this.
    Mobile phone............................ 0
    TV Licence.............................. 12.12
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 155 average over last 6 months
    Clothing................................ 60 - £720pa on clothes? :eek:
    Petrol/diesel........................... 280 long commute!
    Road tax................................ 10
    Car Insurance........................... 18
    Car maintenance (including MOT)......... 70
    Car parking............................. 10
    Other travel............................ 10
    Childcare/nursery....................... 0
    Other child related expenses............ 70 Pocket money to son - £840 on things he NEEDS?
    Medical (prescriptions, dentist etc).... 5
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 27 - for a house I own and let out, but haven't included it here as it just breaks even
    Contents insurance...................... 6
    Life assurance ......................... 18
    Other insurance......................... 30 Baby bonds for kids - Kids, plural :huh:
    Presents (birthday, christmas etc)...... 80 - That's almost £1,000pa. Cut this by at least £30pm.
    Haircuts................................ 15 - Every month?
    Entertainment........................... 220 needs review!! - You're not kidding. :eek:
    Holiday................................. 85 - Reduce this by at least £35.
    Emergency fund.......................... 50
    Total monthly expenses.................. 2231.12



    Assets

    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 1800
    Other assets............................ 0
    Total Assets............................ 1800


    No Secured nor Hire Purchase Debts


    Unsecured Debts
    Description....................Debt......Monthly...APR
    Barclay Visa...................1297......26........0
    Barclay Master.................4075......82........19.9
    MBNA...........................2300......46........0
    Tax Credits....................2000......167.......0
    Over Draft.....................1900......0.........0
    Halifax........................1691......34........0
    MBNA...........................2951......60........14.9
    Total unsecured debts..........16214.....415.......-



    Monthly Budget Summary

    Total monthly income.................... 2,727.2
    Expenses (including HP & secured debts). 2,231.12
    Available for debt repayments........... 496.08
    Monthly UNsecured debt repayments....... 415
    Amount left after debt repayments....... 81.08


    Personal Balance Sheet Summary
    Total assets (things you own)........... 1,800
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -16,214
    Net Assets.............................. -14,414


    Created using the SOA calculator at https://www.stoozing.com.
    Reproduced on Moneysavingexpert with permission, using Firefox browser.

    A few comments added.

    You really need to cut back drastically because, although you are technically living within your means (you have a little money left after debt repayment), it's a close run thing.

    Also, not including your OD, at the rate you are currently paying, it is going to take 41 months to clear your debts, and cost you £2,336.00 in interest. :eek:
  • [Deleted User][Deleted User] Forumite
    0 posts
    Eighth Anniversary 10,000 Posts Debt-free and Proud!
    MoneySaving Newbie
    I paid £325 off the lowest card

    The lowest card being a 0% one?
  • SkinnylatteSkinnylatte Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Debt-free and Proud! Home Insurance Hacker!
    ✭✭✭
    Bedsit_Bob wrote: »
    The lowest card being a 0% one?
    Yea I know but it is the lowest debt so I'm doing the 100 days challenge, and after December it goes upto 24.9%, more of a phsycological thing really.
    Thanks for the feedback :) ooo and congratulations on your first debt free month
    Pay off Car Loan £17,047 £10580 by Christmas 2022

    Mortgage 1 @ 23/03/2019 [STRIKE]£101297[/STRIKE]
    £84457 16.6% DI [STRIKE]£6.95[/STRIKE] £6.15
    Mortgage 2 @ 12/04/2015 [STRIKE]£136121[/STRIKE]
    £100,546 26.1
    % DI [STRIKE]£9.13[/STRIKE] £6.07
    1st LBM 02/06/2013 £[STRIKE]21595[/STRIKE] Debt Free Day 27/03/2015

  • [Deleted User][Deleted User] Forumite
    0 posts
    Eighth Anniversary 10,000 Posts Debt-free and Proud!
    MoneySaving Newbie
    If the Barclay Visa Card is going to 24.9% in January, then you need to be hitting it much harder.

    At your current rate of paying, you will still have £868 on it, when it goes to 24.9%.

    At £26pm, it'll take £56 months to clear it, and cost you £568 in interest.

    To avoid paying interest, you need to pay an extra £191pm, from now to December.

    It's possible, but it would mean being ruthless on spending (at least until December).

    You could make a start, on the things I identified earlier.
  • SkinnylatteSkinnylatte Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Debt-free and Proud! Home Insurance Hacker!
    ✭✭✭
    Thanks Bedsit, I do have other income which I haven't added up top, as it's not gaurenteed and can flutuate, so I keep that as a bonus, and it will clear my barclay card but the end of the year if I'm careful. That extra income and my anual bonus should hopefully mean I can clear things much quicker.
    Also my kids are nearly 15 & 17, they don't have too much longer left at home, so I don't wont to go too spartan, not their fault I'm in this mess is it!
    Pay off Car Loan £17,047 £10580 by Christmas 2022

    Mortgage 1 @ 23/03/2019 [STRIKE]£101297[/STRIKE]
    £84457 16.6% DI [STRIKE]£6.95[/STRIKE] £6.15
    Mortgage 2 @ 12/04/2015 [STRIKE]£136121[/STRIKE]
    £100,546 26.1
    % DI [STRIKE]£9.13[/STRIKE] £6.07
    1st LBM 02/06/2013 £[STRIKE]21595[/STRIKE] Debt Free Day 27/03/2015

  • SkinnylatteSkinnylatte Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Debt-free and Proud! Home Insurance Hacker!
    ✭✭✭
    Fuel £300 £123.60
    Food£150 £29.83
    Extra Spends£220 £88.63

    OK a tad overspent, but as I'm away with work for a week on the 23rd and get paid on the 27th, I only need to make this last 9 days!
    Pay off Car Loan £17,047 £10580 by Christmas 2022

    Mortgage 1 @ 23/03/2019 [STRIKE]£101297[/STRIKE]
    £84457 16.6% DI [STRIKE]£6.95[/STRIKE] £6.15
    Mortgage 2 @ 12/04/2015 [STRIKE]£136121[/STRIKE]
    £100,546 26.1
    % DI [STRIKE]£9.13[/STRIKE] £6.07
    1st LBM 02/06/2013 £[STRIKE]21595[/STRIKE] Debt Free Day 27/03/2015

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