Mr and Mrs K's New Journey to a Debt Free Life.

AmyandArthur

Another one here who has followed your story so far and loves your enthusiasm. ALso I'm another one who loves your writing style! Subscribed!

bess1234_2

Re the hol being tacky now but maybe appreciated later. You're starting to get it:T:T:T. Once you do without for a while, you start to value everything so much more. I could kick myself for all the endless luxuries I didn't appreciate cos I had the money.

Go and throw your duck bread at the village mums. I'm with you on that score, but it's your park too!

And stop spending every day wanting things you can't have, none of us can. I'm really glad your starting to say no to your son, just gotta do it to yourself. Or Mara uk7 will have to do it for you:rotfl:

heartbreak_star

Mrs K can like her sun all she likes, but if she books a holiday it's going to be expensive and hypocritical

I LOVED swimming as a kid, my dad used to call me his little mermaid as for something to do today, potter in the garden or bury yourself in a book? If you restore furniture, could you make something for the house or garden? We have a lovely little bench my OH knocked together out of pallets

When I started saving money I learned to make things for cheap. Baking, cake decorating, sewing (I got an overlocker for FREE so am now overlocking everything in sight!), cooking - maybe you could try a simple recipe for a family dinner?

HBS x

wegle

Wow this thread moves so fast I can barely keep up!

Sorry that my no wallet advice led to a toddler tantrum, but the good news is that your son will start learning that he can't just have everything he wants which will set him up really well for when he is older.

I too don't really understand how people think they deserve holidays. Until this year when we went abroad to get married we hadn't had a holiday in 5 years. Time off work was spent spending time together at home, going for nice day trips with the hound, and spending time with family. My parents have a house in Cyprus so there is the opportunity for us to go on a cheap holiday whenever we like but I'd much rather spend the money towards something more solid/tangible or off my debts.

One of my favourite activities to do with my friends little toddler is arts and crafts, potato stamping is a particular fave. Actually anything that involves getting a bit messy!! When I was a Beaver Scout leader we used to ask all the parents to collect up all there old cardboard boxes from cereal packets etc, and any other "junk" then each week we would choose a theme and try and make something out of it.

Anyway I'm going to try and keep up from now on!!

zenshi

I found a spending diary really interesting and helpful! It makes you realise where your pennies really go! The first month I did one and totted up at the end, it was like ......wow nearly a tenner on the odd choc bar :eek:

It has changed my spending and I was never one for luxuries...except chocolate

Mara_uk7

bess1234 wrote: »

And stop spending every day wanting things you can't have, none of us can. I'm really glad your starting to say no to your son, just gotta do it to yourself. Or Mara uk7 will have to do it for you:rotfl:

Jeez, Do I come across as being that bossy ? Ill sit down and shut up now

Granariesgirl

Hi Alex,
Good work, I was only gone 2 days & everything is going so fast - I'm blaming you for my lack of housework/ admin this morning, I HAD to read the diary updates!
Here's my opinion on your plan, FWIW.
Yes I know, opinions are like a$$holes, everybody has one!

Decreasing Spending

AlexLK wrote: »

• Gas and Electricity - Stop using energy unnecessarily, check u-switch.

Give DS the mission of checking about left on lights/plugged in chargers & telling Mummy & Daddy off if they leave them on - our kids LOVE getting all pious & unplugging unused chargers, switching off lights etc... (need to be older for that!)
If he needs motivation, give him a "lightsaver" piggy bank & 5p to put in it each time he gets it right!

AlexLK wrote: »

• Mobile Phone - I am going to cut down to a £10 per month contract as I hardly use it.

If you don't use it that much, go for PAYG - I'm with 3 Mobile & find it ideal - most months I only need £5, sometimes it's £10-20. If I know it's going to be a big month, I buy an "add on" which gives me more for my money but only lasts 30 days.

AlexLK wrote: »

• Groceries - neither of us enjoy cooking so we need to find some quick and EASY recipes. Swap between cooking and washing up daily.

Tell me about it! I used to love cooking until I had to do it EVERY day.
My best culinary friend is the slow cooker - bung everything in & 6-8 hours later, voila! :cool:
I do curries, ragouts, couscous stews, carbonades... I don't bother with frying the meat etc. just slop in some olive oil, stir in the onions & meat, then put in the veg & spices (or curry paste for curries), otherwise too much washing up - URGH!
Here washing up was done by he/she who hasn't cooked until DC1 wanted a pocket money raise...

AlexLK wrote: »

• Petrol - Stop using cars for short journeys of less than 1-2 miles.

Have you thought about getting a bike that you can put a trailer bike or child seat on the back of for DS?
Our kids started out in child seats from 9mths until they were too heavy; then trailer bike - just stopped using on long, 20km<rides, for DC2 who is now 7.
I can't do a ride that long, my bum gets sore (& legs, & hands, & back...) but they LOVE it! :eek:
Both DC love going out for rides with OH, usually with a picnic & a "refreshment stop" (1 drink each only!) at a pub/cafe: admittedly the money you save on petrol is spent in a local hostelry BUT they sleep REALLY well after an hour or more on the bike!

AlexLK wrote: »

• Holiday - 2014 will be a holiday free year but we will have 7 or 8 family days out.

Weekends to see old mates?

Save Towards

AlexLK wrote: »

• PAYING OFF DEBTS.

Quite frankly, if I were you, I would borrow DS's savings - write out a private contract (no legal worth but a moral reminder) & make this a priority debt as soon as you have cleared the others.
Look at the interest rates on your CCs/ loan & pay him back at the average rate - this would probably be more than he's getting in his savings account!
When you are TOTALLY debt free (not including mortgage), use your skills to build up his savings - put 20% of your profit from sales into his savings rather than a monthly DD, this way it's tailored to your income.

AlexLK wrote: »

• Home improvements - new bathroom suite, trying to insulate the house better. Long term - roof replacement, boiler replacement, rewiring or move.

I have renovated 2 houses & been in charge of the copropriety of an apartment building & for me the priorities are thus:
FIRST the roof & anything that keeps the cold & wet out,
THEN the rewiring / boiler (unless it is dangerous),
LAST the interior bits like kitchen & bathroom.
Logic is: if you have a new bathroom suite/ bedroom or sitting room decor & the roof leaks so badly it ruins the paint / carpet / tiling etc. & you have to pull everything out because of damage, you have wasted that money (been there, done it, got the T-shirt)! :mad:

Improving Income

AlexLK wrote: »

• Pens - buying / refurbishing and selling. Aim to make £50 per pen and sell 3 per month. (£150) Notes: Allows me to keep the hobby, must not decide to "keep" any.
• Watches - buying and selling. Would have to outsource any refurbishment though. Aim to make £250 per watch and sell one per month. (£250) Notes: As above.
• Chesterfield chairs

Sounds good but don't aim for a quota - some months will be fantastic for buying & some for selling.
quotas=pressure which is bad for depression.

AlexLK wrote: »

• Triumph / MG / Jaguar classic steering wheels.

Boys day out at car boots etc with DS - call it a "steering wheel hunt", kids are so observant he'll probably spot something you might miss & it's a good chance to teach him stuff he can't learn in school... you need to give him a cut of the profits if he finds one & a 5p payment on the day for finding something useful (this can be his spending money for the day) which will teach him about earning money.:cool:

AlexLK wrote: »

• Triumph cars - 2 per year aiming to make £1000 per car. (£150) Notes: This is easily do able. However, not a cheap business to try.

Put it on the back burner! I really think you should leave this for later when DS is older & will enjoy helping you (while REALLY helping you) & getting his hands oily; when you have been financially secure for a while; & when Mrs K has had time to de-stress after this debt-filled episode.

AlexLK wrote: »

• Music Teaching - in the evening. Up to 10 hours per week at £25 per hour, 40 weeks of the year. School terms only. (£800) Notes: Can find 4 hours of work straight away from friends children.

Go for it! I did English/French teaching & always took payment in advance, forfeited if less than 48hrs notice given of cancellation: I got some complaints about this policy but the clients kept coming & there were very few last minute cancellations once it was in place!

Keep up the debtbusting & keep the diary going - I need an excuse not to do boring SAHM stuff!

bess1234_2

Oh no Mara uk7. - I didn't mean to upset you , you were right! I think mrs K would be glad you said it

7roland8

I'm with Wegle on saving all cardboard packaging - and anything else plastic etc - we used to have a cupboard full and its great for messing making play.

Oh bootsales - we used to tradte in our sons old things - we'd sell what we didn't want and they'd use the money to buy more stuff! We'd buy the good quality Fisher Price stuff often for very little - give it a wash in dettox and its as good as new.

7roland8

My hubby would call me a snob but the way you are all taking about the 'village mums' sounds very condescending - surely there are nice people wherever you live.