Debt Destruction December!!!

rosiecheeksblossom

Hello everyone


How are you all? Looking forward to Christmas.
Payday tomorrow :jfrom my normal job and I got paid from the bank on Friday.
NSK, I have a confession to make:o, which you may think I was daft in doing as will probably a few others on here. I have added £4000 to my loan to help a friend out. Unbeknown to me, her and her husband had been using payday loans to pay off some debt that they had and then ended up in a vicious circle getting out more loans to pay off the original and so it went on...... She then phoned me in a state asking if I would be a guarantor on another loan to pay off the other loans with an APR of something like 40%. They thought they were going to be ok as the sale of her gran house was days away from completion but then the buyers pulled out at the very last minute.... I couldn't say yes to being a guarantor on this loan with that kind of interest so I went to my bank and extended my loan which the APR is 5.6%. She is now paying me £215 a month until she can repay me the full amount when her gran's house does sell, new buyers have come forward and processes are happening. I do hope she has learnt a lesson from this but its not for me to preach to her, is it.


Anyway Im ploddin on. yesterday was SFD 11, have to do food shop and then hopefully all I will need to do is petrol, have done too many miles this month, so will go over on that budget. Off to update my totals.

Hope you all have a lovely day xx

NinjaSavingKat

Hi everybody.....

Easy day in the NSK household. The random flurries of extremely heavy snow ( that is not lying ) has confined us to the house, with the fire being fed my Mumsy ... it's like the best groundhog day ever!

Brother has put a nature film on cause the TV programmes are so rubbish so we are watching animals devouring each other...lovely...

Doggie is in with us and has enjoyed some milk and bread with doggie treats and lots of love... happy days!

Abundant £140 is still really good. I have never looked at that challenge as all my pennies are always accounted for but I am tempted to do it for the end of the month pennies before taking out money for the coming month - hmmmmm I think I might look into this.

Loveadove it's nice to have you back. I am sorry there is sadness for you but perhaps those jingly socks might help! There is a lot of love here for you so we are appreciating your return and respect the down time you need... Hope the reunion with old school chums cheers you up just don't dye your head as well... don't need everyone to know you are being VERY MSE!:rotfl:

Bex you have set the mark now! Another £900 per month. YOu are going to have to be SUPER strict with yourself. I did this last April - paid off debt and saved for a holiday. The holiday wasn't worth it in the end and I regret it but it can be done! Dare you share your incoming salary for us and the break down of how you are planning to get this money together - what are you selling - stuff from the house or do you sell crafty bits?

TiptoesDB I miss my puddy cat! Good luck in the shops - seriously would not want to be in your shoes. I am having to go in tomorrow and I am not looking forward to it... "I wish three great journeyings of calm"...lets us know when you are back alive...:rotfl:

I honestly have nowt to report. I am sat here like a lemon ( actually planning a lemon drizzle cake for Mummy today ) and trying to figure out when to release my new diary....teehee...:T:T:T

NinjaSavingKat

RosieCheeksBlossom - only a good friend would do this for someone but I did whince a little when I read it. I truly hope she sticks to her word and pays you and I wish you well with this but I am a little scared for you I won't lie. I guess it depends on how well you know her that's all.. keep us posted and possibly think of a contract with a solicitor. I have read too much on here to go on someone's "word" any more..

How long ago was this and has she made the first payment yet..?

apple_muncher

rosiecheeksblossom wrote: »

Hello everyone


NSK, I have a confession to make:o, which you may think I was daft in doing as will probably a few others on here. I have added £4000 to my loan to help a friend out.

rosiecheeksblossom, you are not daft - you are lovely! Well done on doing this - we're poor indeed if we don't help out our friends, aren't we?! Well done in taking the burden from your friend and adding it to your own load.

NinjaSavingKat

Okay I have just put up the Pro's and Con's of the new house I am going to (hopefully) move into on my personal blog (WHOOP I HAVE FOUND A HOUSE!!!)...

....... then I see this article in the Daily Snail and realise how close I am going to be to two massive supermarkets and am quite excited about how low I can get my grocery spends.. It won't be as bad as this article I must admit but I LOVE SAVING PENNIES....Mwah ah ah ah aha aaa...

http://www.dailymail.co.uk/news/article-2527860/Roadkill-dumpster-diving-years-sprouts-They-cheap-YOU-want-eat-penny-pinching-Christmas-dinners.html

Fmess

NinjaSavingKat wrote: »

Okay I have just put up the Pro's and Con's of the new house I am going to (hopefully) move into on my personal blog (WHOOP I HAVE FOUND A HOUSE!!!)...

....... then I see this article in the Daily Snail and realise how close I am going to be to two massive supermarkets and am quite excited about how low I can get my grocery spends.. It won't be as bad as this article I must admit but I LOVE SAVING PENNIES....Mwah ah ah ah aha aaa...

http://www.dailymail.co.uk/news/article-2527860/Roadkill-dumpster-diving-years-sprouts-They-cheap-YOU-want-eat-penny-pinching-Christmas-dinners.html

Yay for the new flat! I agree the pros outweigh the cons and if you feel safe, then that's great

I wish I was brave enough for dumpster diving, but I'm too scared someone will see me! Yesterday I wombled one Asd4 receipt but haven't checked it yet. I really must do more of this in the new year.

I have had a spend day today as I joined the gym! Not very in character for me at all. It is £20 for now until the end of January and I want to start running in the new year, so I'm hoping this is a step in the right direction. Not very MSE though!

Hope everyone has had a good day and avoided the shops, I only ventured out for half an hour and saw ridiculous queues around the supermarkets

Bex296

rosiecheekblossom - That's not daft, that's a lovely thing to do!

NSK - Yay for finding a house!

Loveadove- *hugs* and I hope you feel better soon.

rosiecheeksblossom

Me again..
I have known this friend for about 12 years I think and she is a very good friend. I paid the money into her account two weeks ago and she gave me her 1st payment on Friday when she got paid, so hopefully I have can keep my faith but do understand the apprehension felt. Thanks for listening NSK and Apple muncher xx

Bex296

Sorry this is going to be a really long post!

NSK- Here is the breakdown! It might be a bit unrealistic but worth a go! Also, it's £900 over 3 months, luckily, so *only* an extra £300 a month to find! :eek:


Incoming money: £2,319

This is from my main job, a regular second job and some extra that OH is giving me as part of our combined credit-card killing plan!

Outgoing money:

To joint account (rent, food, bills, pet food, joint rainy day money, etc): £625 - I can provide a breakdown of this too?
Diesel: £200 (used to me more but I'm trying hard to work from home more)
Credit cards: £505
Personal loan: £70.57 (low interest, ends Nov 2014)
Car HP: £138.51 (low interest, ends Feb 2015)

Phone: £11
Pet insurance: £12.10
Rainy day savings: £50
Wedding savings: £400
Annual expenses pot: £120 (professional body fees and memberships, Christmas, car servicing/insurance etc. Trying to be sensible and put this to one side instead of panicking when it happens!)
Car insurance: £30 (might be able to get this down a bit when I renew in Feb, won't have the cash this year to pay up front but will do in 2015!)
Spending money: £100 (this is where the savings can be made, I hope! It seems a lot but I can't seem to stick to it :mad:)


So that leaves me with £56.82 left over per month, in theory, though I guess really this ought to go to debt! I have some extra hours at second job lined up in March which is another £150. So to sort that extra £900 by April, I need to find £600. I reckon I can claw back £40 a month from spends if I'm very strict with myself (maybe I should just set my spends lower?), so then I need to do extra work/sell stuff etc for the rest. Stuff I have to sell is mostly random things from parent's house that I have been 'storing', which ranges from unusual monopoly sets (!) to books and CDs, a coffee maker and a couple of exercise machines. I've not used any of this stuff for three years, so it's about time I got rid and cleared my parents some space!! Is it possible? I hope so....

Also, do you guys reckon it's better to put the hypothetical £900 (minus spends, so I guess £800) straight onto credit cards (thus reducing my interest) and buy flights on the card (also get protection that way), or keep it in a separate pot?

splodgethefirst

RosieCheeksBlossom what an extremely kind thing to do. I would second a binding contract being drawn up though for my own peace of mind.

Abundant that's still £140 more than you had before! I started a savings tin this week - stuck my £2s in and some unexpected petrol money from a friend. Very kind of her. Pondering whether to take it to the bank and start properly on January 1st (next Wednesday!) - thoughts anyone?

Am currently enjoying the Cake Boss marathon on TLC - i love watching people who are crafty do their thing - it is really inspiring! Wish i could make cakes that look as beautiful as these.

I stole a SFD today (taking me to 9). Think I will actually struggle to get 15 this month ... sigh. though i think this is an improvement on last month?