need to clear the debt once and for all

MrsGSR

Hi there,

I have been a MSE forum user in the past in other sections but aftera few realisations I have realised we have to do something about our debt.

Personally I have £615 in total to pay on two credit cards, one is £210 and the other is £410 both have been moved to0% balance cards and i have set up DD to both. One I have worked out I can pay off within the 27 month term, once I have more hours at work I will be able to up payments to the other card and have it cleared in 7 months. My main bank account is well in credit so no worries there. I have also started making small payments to the cards by leveling my balance so having say a 243.68 balance I will pay £3.68 to one of the cards, I'm hoping that this will just add up nicely anc help pay off quicker.

My husband has £1,000 on one credit card and not sure how much on another but i fear it may be more, he has moved them both to 0% cards and is paying £80 a month off them.

I realised after an email from our energy company that we were £43 in debt on the account, upon investigation despite the heating being switched off our bioler was switched up to max! I'm not sure how as we never touch it as it's in the garage! I had thought it was broken at first but it was replaced 4 years ago so it's not old. I also found our payment was rejected from them so we owed them that and the £43 :-( investigating into our joint bank account we were over the overdraft and racking up charges.

Quick phonecall to the bank waived the charges totalling £200 and increased our overdraft until we could get money from our savings across . Also talked to the mortgage comapny about increasing our term so our payments are lowered.

Although my husband realises we need to address this he is unwilling to discuss it. He doesn't want to increase the term even though i have explained that paying lower payments may only be temporary and then we can make overpayments when I am working full time (we have two young childen and I work part time) he will not work on a budget with me at all.

It's depressing me as I am trying to make changes and he is resisting it!

All in all we owe around £3,000 so not as much as some I know but I want to address it before it gets worse.

So far I have been-
1. Shopping and cooking to a budget, I have prepped 22 meals for the freezer, we also have 8 lots of meat to add to meals that we bought heavily reduced. There is stacks of veg and other bits in the chest freezer in the garage and I have a full storecupboard. I am thinking we can get away with just buying friut and milk
For the next month.

2. Spoken to sky and negiotated a £20 reduction.

3. Putting kids clothes on ebay.
4. Sorting the garage for items to carboot.

Any other ideas? And ways to get my husband on board!

MrsGSR

So after a long discussion, going through everything and getting the calculater out we have worked out we are 3,220.40 in debt. I know its not a huge amount but we realise its best to tackle it now instead of making it worse.
DH is now on board and we made a few decisons.

Cancelled our holiday, the remaining balance of £325 plus the added costs of petrol, food and leisure would mean it would be well over £500 so we thought it was best to write off the £50 deposit.

Today I paid in a cheque for £110 for cancelled car tax from my DHs car that was scrapped into our joint account so thats £110 off the debt lol!

BrookesAndrew

Keep it going. I always do that thing with my savings. If I have 236.37 in my account I will transfer the 6.37 into my savings account. It did add up to quite a bit until I spent my savings! I am glad you are one of these people who actually are aiming to pay of there debts so like I said keep it up. Just keep throwing money at it and it will soon come down.

Let us all know how you get on. Keep this thread as a savings diary, that is my advice and then you can look back on it when you are feeling a bit down and it will motivate you. Good luck!

PRINCESSX87

MrsGSR.

OH's are a nightmare, Aren't they! I think if you carry on the way you are & he starts seeing improvement he might be more inclined to start saving himself.

I will be following you if that’s okay.?? Chin up hun & keep going x

MrsGSR

BrookesAndrew wrote: »

Keep it going. I always do that thing with my savings. If I have 236.37 in my account I will transfer the 6.37 into my savings account. It did add up to quite a bit until I spent my savings! I am glad you are one of these people who actually are aiming to pay of there debts so like I said keep it up. Just keep throwing money at it and it will soon come down.

Let us all know how you get on. Keep this thread as a savings diary, that is my advice and then you can look back on it when you are feeling a bit down and it will motivate you. Good luck!

Thank you I will! Once we are clear like you I will be transfer odd amounts to my savings and get that looking good again.

PRINCESSX87 wrote: »

MrsGSR.

OH's are a nightmare, Aren't they! I think if you carry on the way you are & he starts seeing improvement he might be more inclined to start saving himself.

I will be following you if that’s okay.?? Chin up hun & keep going x

Of course!
We had a big chat last night and got all our debts out in the open and he is well on board thank goodness.
We have a fantastic relationship but realised we had been hiding personal debts from one another so we didnt upset each other worse thing really

MrsGSR

Just spent ages on the phone finding out that I was paying andd on insurance I never signed up for! Luckily the 39.90 is being refunded! Yay! So I can by DS new shoes on Thursday and some trousers!
Going to start surveys again too. Makes sense...

trixie888

My bf and I just had a baby. He has a house but lives in my flat in most of the days. I don't know how to get him understand my money trouble until I let him feel my situation.

First, the cupboard used to have everything - from snacks to sweets, his meals and needs included in my shopping list. I slash him on my list since he doesn't contribute money for food anyway.

The fridge used to have all kinds of meats, now you are lucky to see one.

I started omitting the lunch out on weekends. He expects that we take turns on paying the bills but he never offered to pay groceries not even for our baby's stuff.

To be fair, he gives his half share for our babysitter/nanny. Tho I guess he assumes the money includes food and lodging. Now bye-bye good food and laidback lifestyle.

trixie888

MrsGSR wrote: »

Thank you I will! Once we are clear like you I will be transfer odd amounts to my savings and get that looking good again.


Of course!
We had a big chat last night and got all our debts out in the open and he is well on board thank goodness.
We have a fantastic relationship but realised we had been hiding personal debts from one another so we didnt upset each other worse thing really

Talking things out work for some and looks like it works for both of you!!!:T

MrsGSR

trixie888 wrote: »

My bf and I just had a baby. He has a house but lives in my flat in most of the days. I don't know how to get him understand my money trouble until I let him feel my situation.

First, the cupboard used to have everything - from snacks to sweets, his meals and needs included in my shopping list. I slash him on my list since he doesn't contribute money for food anyway.

The fridge used to have all kinds of meats, now you are lucky to see one.

I started omitting the lunch out on weekends. He expects that we take turns on paying the bills but he never offered to pay groceries not even for our baby's stuff.

To be fair, he gives his half share for our babysitter/nanny. Tho I guess he assumes the money includes food and lodging. Now bye-bye good food and laidback lifestyle.

Hmm thats tricky but good call on stopping the good food and treats for him for now. I assume you are on maternity leave at the moment? Therefore i think its unreasonable that he expects to take turns paying bills. Sounds like he is taking the mickey at bit especially as you have had a baby together.
I hope he soon realises that you need the support.

wegle

Hey Mrs GSR (do you have a big shepardy type dog by any chance?)

Just popping over from my diary. I think it's great you and your OH have managed to come together to get this sorted. It's so much easier to run and stick to a budget when everyone's on board.

Batch cooking, eBay and getting rid of those pesky hidden insurance payments is a great start. Surveys is definitely good too, bear in mind though it does take up quite a lot of time and you have to reach ate high thresholds on some, but still every little helps and you can do them whilst your sat watching telly or like I do on my lunch break at work.

When I was saving for the wedding I used to enter competitions to win things we needed, so maybe if there's something you guys need, hunt on the competitions board to see if there's any there. I used to enter for DVDs a lot because we were never going out and it was free indoors entertainment!

Have you thought about posting an SOA to see if there's any areas that could be shaved down a bit?

Xxxx:T

MrsGSR

wegle wrote: »

Hey Mrs GSR (do you have a big shepardy type dog by any chance?)

Just popping over from my diary. I think it's great you and your OH have managed to come together to get this sorted. It's so much easier to run and stick to a budget when everyone's on board.

Batch cooking, eBay and getting rid of those pesky hidden insurance payments is a great start. Surveys is definitely good too, bear in mind though it does take up quite a lot of time and you have to reach ate high thresholds on some, but still every little helps and you can do them whilst your sat watching telly or like I do on my lunch break at work.

When I was saving for the wedding I used to enter competitions to win things we needed, so maybe if there's something you guys need, hunt on the competitions board to see if there's any there. I used to enter for DVDs a lot because we were never going out and it was free indoors entertainment!

Have you thought about posting an SOA to see if there's any areas that could be shaved down a bit?

Xxxx:T

I don't, why? Just a husband and two children here:p
Yeah i used to do a lot of surveys but just didn't get as much time so stopped. We do shop and scan which earns us points and we have lots saved up this year. Plan is to use for gifts
at christmas.
I've tried comping but really couldn't get a mojo for it! I
ouldn't dedicate the time it required, I still enter them on an ad hoc basisIbut never win anything.
I am still working on an SOA but I have been through everything on our accounts and called for better deals. I've saved £20 on sky and that was non negotiable with DH he loves his sport and watching it and he never goes out so I wouldn't want to deny him of that pleasure also that includes phone and internet.
Thanks for your post, I may just try comping again!