New Plans for 2014!

Save_me

Hi All

It's the first time debt busting (I think ever). Ever since I was at Uni (by the way I'm not counting my Student Loan!), I've been in debt and just lived in my Overdraft - sometimes quite far into it incurring charges!!!

It's not until I've sat down recently and populated a spreadsheet with how much debt I/we actually have and how many months/years it will take to clear. As is often the way, I feel that if I don't get a handle on this over the coming year, more purchases will be added onto this debt and we will never escape it.

I'd basically like to clear this debt and be left with the mortgage to begin working on and reducing. Alongside this, once the debt is cleared (hopefully by Jan 2015), I would like to start saving to start a family.

I have a bit of a battle on at the moment as the OH doesn't believe my plan is realistic. I've accounted for everything we've been spending on within the last couple of months and worked out a buffer of around £300/ month. This will in all honesty be spent but it's just money I haven't accounted for on the SOA. For example, I haven't budgeted for buying any clothes (although we can live quite frugally as we are) but from time to time I'm sure we will get a new jumper if needed (out of the misc £300).

If I keep to the budget (as close as possible), we will be out of the overdraft for the first time in years by March 2014!! It's all pie in the sky and seems simple on paper, but it's a start and now I've got a better handle on the debt & outgoings, I can make informed choices over the things we chose to spend money on.

Fingers crossed for 2014!! x

plymouthscubagirl

Good luck on your journey. Your details are very similar to mine (debt amount and time to clear etc) except I already have my one and only child!! I cleared my debt when I was pregnant as I didn't want to be starting a family in debt, but then stupidly/wisly took on my partner (and ex wifes :mad:) debt as it was annoying me how much interest he was paying, so here I am with £13k to go. Hoping to be debt free by Sep 2014 and hopefully a stone slimmer too in the process :eek:

Good luck on your diary - getting the other half on board is my biggest problem! x

Save_me

Ah, thank you! It's all a bit daunting but worth it in the end.

I think my OH is concerned we are going to miss out on a holiday but I've tried to factor a small one in - just something cheap and cheerful in the sun! I keep trying to motivate him by saying with all of this money thrown at the debt now, the year after we should have around £1000+/ month of extra cash! What's not to love about that!?!

Money saving is a good factor in helping with the weight loss but I've got myself a packet of cheap biscuits this week and nearly eaten the lot in one sitting! :rotfl:

That's brave of you taking on more debt but I guess you just want the ex out of the picture in any way possible. If you want any motivation, pop my way and I'll try and help!

Save_me

Payday today! Yay! I'm not feeling too well so having a break from the online banking and taking it easy tonight. Back on it tomorrow though!

Told OH that I'd take out some (budgeted) money so he can have some cash for an impulse buy but he said he'd rather leave it in the bank! Wow! Trouble is, debit cards don't really feel like cash so it's too easy to buy odds and ends and not really notice. Luckily though, most day's I've got my beady little eye on the online banking so I'll soon notice!!

I need to get a wriggle on and get the last few presents sorted so they are paid for asap ready to start the major debt busting on the next payday. It can be a real struggle to think of things for some people and trying to keep the price as cheap as possible makes the present look a bit pathetic but everyone knows our position this year so hopefully they won't mind!

Anyways, let's see how long this months pay will last! :rotfl:

Save_me

NSD today! Even though I was tempted to stop at maccy d's after being stuck in traffic for an extra 2 hours!!!

Tired now, so straight to bed. Need to take a look at figures tomorrow and make sure we are on track.

Also need to work out if it's worth claiming for PPI (OH's)... weekend job!

Save_me

My budget WAS on track but now we seem to need a car. OH thinks we can't manage on one (it is a struggle) but I hadn't planned for this. Trying to decide between cheap (£200) banger (which we haven't got the money for) or lease (£1000+ deposit) no-worries car (which we haven't got the money for).

Proper curve ball!

Ah, what to do...!

Tonight I've had my first glass of wine in ages and it feels lovely! Can't wait until Christmas when we have the lights on the tree, candles dotted around, good film and a glass of red! Bliss!

Today has been a NSD for me but hubby bought himself lunch.. tut tut! Making sure we eat at home tomorrow for lunch as we have a planned meal out tomorrow.

Daytime plans are to finish the Christmas shopping so next payday I know exactly what I have to see me into the New Year. Can't believe it's nearly Christmas and New Year already!

Calling14

Well at least you seem to have Xmas pressies sorted. I have similar debts with just me to pay them off so will just take longer.
Car is a major expense, more car tax, insurance, breakdown cover and repair think carefully that you need it first.

Good luck on your debt busting.

Save_me

Thank you Calling14! Car's have always been a pain for us and we seem to never have any luck!

Well Christmas presents for family are all done. Just need to spend my £15 voucher for the dog at Pets At Home and then try and decide what me and the hubby are going to get for each other. As we haven't got much money, I'm all for keeping it as a cheap as possible. I managed to get about £50 worth of gift sets for the grand total of £3 at Tesco yesterday! £20 gift card for returning something faulty and the rest was vouchers! Bargain!

I think this month's pay is already gone (4 days into it!) but although this is bad, I need to stay focused so that it doesn't become too bad and spill into December's pay. Part of my plan is to slowly pay off the Overdraft as we go along so each month, when I see my pay go in I should see that we were a little less over-drawn the day before. I'd rather focus on the actual debts and let this take care of itself (there isn't much of a charge, just pence - although when we bought the house we were getting charged for going over the overdraft).

I feel good that I've managed to sort the presents (each one was on offer too!) and I have been able to use a lot of food from the cupboards and freezer for this week's planned meals so only needed to spend about £8 in Aldi today!

Off to wrap some presents and get that out of the way

Save_me

Well, I've wrapped all presents bar one big one (need a bit of help on that one!). OH has also started decorating our living room ready for Christmas and it's looking really good - never gone for a bold colour before but I'm impressed! Aiming to put the tree up the second Sat of December.

Waiting for the 1st so I can start paying off a chunk of the debt. Time moves really slowly while you're waiting for payday! Plus, knowing there's still more to buy is disheartening but it needs to be done so might as well get it!

I'm hoping to list a few things online this week and hopefully rake in some much needed cash. Plus I did a few mystery shops but still waiting for payment... will email them soon and find out what the hold up is!

Gym tonight but I've not been for a week so this is going to hurt! Wish me luck....

Save_me

Well I've had an eventful couple of days. For some reason, I felt the need to blurt out about my ever growing need for children and didn't do it in the most tactful way!

After spending the last two days crying about my OH not wanting them, we've now had a proper chat about the reasons for him not wanting them (lack of money, missing out on things) and I now feel like we've turned a corner.

If we can get on track with this debt and then start putting some money behind ready, he's given a year of 2015 to start trying (which was my plan too!).

If ever I needed a reason to get on track with money, this is it! :j

I'm going to be super focused from now!

Jonesy88

Just popping by to wish you luck! We sound quite similar - i'm SO broody but letting my head rule my heart and getting rid of the debt first. 2015 is my plan for babies