Tunnel Vision in 2014!

Chardonnay

Well I've been a lurker on DFD for a while now and with the New Year approaching, thought it was about time I started my own!

This diary is primarily for me, to help me to focus and try to ensure that we stay on budget, but if anyone would like to pop in and say hi, it would be lovely to see you! :wave: I will also have a look through and subscribe to a few diaries myself!

So, I guess I'd best introduce myself then! I'm in my early 40s and live in the Midlands with my lovely husband and 18 year old daughter. I also have two lovely grown up stepdaughters and a stepson, who live in the South West, so life is a busy juggle with spending quality time with family and working full time! I wouldn't have it any other way though!

So, I think it's important to analyse how I've managed to get myself into so much debt....well, as a single mum with a daughter with Aspergers and anxiety, life hasn't always been easy, although I am so lucky to have had such a wonderfully supportive family. After working full time for years, I was forced to give up my job during a period when my daughter wasn't able to attend school. I did eventually find self employed work from home, as I really wanted to work again but still be able to be there for her (there were still times when her anxiety prevented her from attending school). So my income wasn't what it had been, but with the aid of a loan and credit cards, we still continued to live above our means, with holidays and going out for meals (a real weakness of mine ). Then my daughter needed braces for her teeth but they weren't quite bad enough for NHS, so had to find £2.5K for that. Got married to my lovely hubby in 2011 and although my parents gave us some money towards it, we still spent more than we should.

We then moved house three times in two years. The third time was absolutely necessary and I don't regret it at all. DD had left school, but had hated college in our then town and had left after 1 month. We found her a suitable place in a college 20 miles away and decided to move over as the commute would be very stressful for her and we loved the small city where the new college was. Well it took her a year, but she finally managed to attend properly in September and is now absolutely loving it! Praise the Lord! We love living in this city and finally we all seem to be happy with where we are!

I had a bit of a LBM last December, just after we'd moved here, and with our debt at over 24K was starting to lose sleep and feel very uncomfortable about the amount of debt we were in. I've now been employed since February 2012, still working from home. I love my job and hopefully it shows, as I received a 5k payrise in June, which was very welcome! My husband also works from home for the same company and for once, we really are in a good financial position, or we would be if it weren't for these damn debts! :mad:

My wonderful mum passed away in March and I miss her so very much. I am proud though that I haven't gone off the rails with money since and we have managed to pay over 8k off our debts this year, which I'm really pleased about. The thing that has really given me that kick up the bum is that my dad has since said that he would like to give us a substantial amount of money to put down as a deposit on a house, as he'd like to see us settled and my mum would have too. I did own my own house for a couple of years, but sold that and since the problems with my daughter, have rented since.

I applied for a mortgage earlier in the year and was offered the big fat figure of zero, my debts being the problem. It has been a big wake up call to me. My dad doesn't know how much debt I'm in and I really don't want him to as he is of a different generation and I know that he'll worry. I did tell him that I need to get my finances in order first, but don't want him to know the extent of my debt.

I know I am talking "my" here and not "our" so I'll explain why....my hubby is a wonderful, kind, supportive man but he hasn't been the best with money over the years, had a couple of CCJs which have thankfully now fallen off his credit report, but also some late payments, defaults etc. Whereas although I owe a lot, I have always paid everything on time. I am very conscientious like that. Therefore, we don't have any joint accounts or anything linking us financially or my credit rating would be shot! He is also quite a bit older than me, so it would make getting a mortgage very difficult. I am getting him on the right track though, as believe it or not, I have generally always been good with money

First waffle over, part 2 to follow....:D

Chardonnay

Part 2, did I tell you I'm a waffler?!

Well I'd like to say how much MSE has helped me. I think it's an amazing site and this forum in particular is so very inspiring...I love reading other posters' stories, so many amazing people with such great self-discipline!

So, we paid off over 8K last year, which is great, but I know it could have been so much better. You see, 5K of that was a PPI refund, so I feel that we really only managed 3K by budgeting better. There were a few things that have happened this year....

1. I had the 5K payrise in June, so this has made a big impact on our finances

2. My lovely stepdaughter is getting married this year, and we gave her 2K towards the wedding. I'm really pleased we did it, as I know it meant a lot to her, and we always wanted to make a contribution, but again, we didn't budget for it properly.

3. Hubby and I both had tax bills to pay in January totalling 2K which hadn't been budgeted for at all

4. We went on a big family holiday abroad last Summer and I guess we spent around 2.5K. I know we shouldn't have, but actually I don't regret it. My mum wanted us to do it and we are such a close family so it was really important for us to do what she wished and have that family time together, although I have to say that I did find it very emotionally draining at times, as my mum's absence was so deeply felt.

So actually, I don't think that we did too badly really, and hopefully without the above events, 2014 will be a lot easier and we will make progress a lot quicker!

The aim is to get all of my debts paid off by July, but I don't know if I'm being a bit ambitious there. I can only do my best though! I have never felt so determined to do something in my life. We can't wait to start looking at houses, so the incentive to achieve this is massive! I'd also really love a cat, and we're not allowed them here, so that's another thing which will spur me on. Just for us to be able to relax as well and both have a bit of spending money in our pockets will be wonderful

We've made a few changes over the past couple of months to help us achieve our aim:

(Can't you tell I love lists too )

1. Expensive iphone contract came to an end so changed it so sim only, and now only £6.95, a saving of around £40 per month

2. Closed account for mobile broadband that I never used, as contract thankfully came to an end, saving £8 per month.

3. Bought a PPC card for hubby, as he gets a lot of prescriptions and cannot believe the money we are saving already!

4. Subscribed to Delivery Saver for Tesco, saving us around a tenner a month (I know, I know, Aldi etc are cheaper but I NEED online shopping with working full time and well, I just hate any kind of shopping, strange I know in my circumstances I do also save the Tesco vouchers, which come in handy!

5. Following advice on this forum, I've withdrawn £25 pocket money in cash for this week, and will do every week for the month. When it's gone, it's gone!

6. Again, following advice, I braved our freezing cold garage where our freezer's located and did a stocktake of that and the food cupboards today. Wow, the things you find at the bottom of the freezer!

By the way, I struggled to come up with an imaginative title for my diary, but while chatting to my dad today, told him that I had "tunnel vision" about clearing my debts next year. DD repeated it and looked at me very concerned and alarmed, as I think she thought that I meant that I had something wrong with my eyes Bless her, that made me smile today

So that's me, don't know if anyone's actually reading this or gave up the will to live long ago, but it's been useful for me to write this down anyway

Now on to part 3....:eek:

Chardonnay

So today was a good day. The first real day of 100% focus on shifting those damn debts!

Dad came over for his weekly Sunday visit and we all went for a lovely walk in the winter sunshine and for our ritual of coffee and cake at my dad's favourite hotel by the river. Dad wanted to pay but I didn't have the heart to say yes, so I said that he could next time. So that was over £16 of our pocket money gone for this week :eek: £9 left!

Then realised we needed some milk, butter and sugar and as dad was going into M&S, I went in too and bought them in there. Won't be doing that again, checked the prices online and realised I'd paid about 25p more for the milk in there! Anyway, that will come out of our new food budget.

Good news, it's my brother's birthday next month and bought him a pressie from Boots, half price and using a gift card, so no money spent there at all :T Have also realised that I can buy nephew's birthday present using Nectar points hopefully, so just need to find out what sort of thing to get him. Am clueless when it comes to boys!

Wanted to do my online shopping, ready to be delivered next Thursday, while in the mood, after my freezer/cupboard audit, but the special offers I wanted won't seem to work on items added until tomorrow, so will have to wait until tomorrow, when back at work :mad:

Will be so glad when the New Year starts now. We have a big obstacle in the way of our debt busting and that's NYE! We are going out for a meal with family, using a £40 gift card that we received for Christmas, so that'll be quite MSE. But hubby also really wants to go to the pub after, where you have to buy a ticket. I'm sure it'll be a good night and there'll be music and lots of frivolity but I dread to think how much we'll spend once the drink starts to flow! I have budgeted for it and I am biting my tongue, as I know he really wants to go. I did say we need to be a bit careful and pace ourselves though.

It just struck me how bossy I must sound on here. I guess I am a bit bossy really , a bit of an organiser and like to be in control (not in a bad way though I don't think!) and hubby is extremely laid back so we do compliment each other quite well. I guess I was on my own for years, used to having to organise everything, and he's more than happy for me to do it, so I guess it works well I think I am a nice wife though, I hope I am anyway, he doesn't seem to have any complaints

So off to make a cuppa now, watching the darts on Sky (that is a luxury I would never ask hubby to give up, he works hard and loves his sport). Will update my signature as soon as I get chance.

Thanks to anyone who managed to get to the end of that, you deserve a medal

BEAT_THE_DEBT

Hi and welcome. I am bossy too it's the only way to get things done. Enjoy Nye as if you are anxious it will be a waste of money. It's planned now just enjoy yourself and next year put money aside for it.

Chardonnay

Thanks for the welcome Beat The Debt :wave: Ah, I'm pleased it's not just me who's bossy and agree, you need a bit of bossiness to get things done If it was left to my lovely, very laid back about everything OH, I'm not sure where we'd be, which he admits himself!

You're right about NYE, I will just try to relax and enjoy it

Buffythedebtslayer

welcome to Diary land


I think you sound great! and very focussed and you write really well.


have you worked out what to tackle first re debts? Most people go for the highest interest first whilst other like the kick of paying off a smaller debt in full.


Do keep writing


xxx

Chardonnay

Hi Buffy, and thanks! I did wonder if I'd bore everyone to sleep, I do tend to write and write once I get into the flow!

Re my debts, well I "only" have 3 credit cards left now, which does make life easier. Early last year, I also had a loan, overdraft and another credit card, so it does make me realise that I have actually achieved something!

The debts I have as of now are:

Barclaycard - £2230.31 - 19.9% (0% ran out before I could pay it off )
Marriott Card - £6356.93 - 0% until February
Halifax Card - £6126.31 - 0% until June

Total = £14713.55
Total as at 22nd Jan 2013 = £23135.28 (it was over £24,000 at its worst last December but I don't know the exact figure as only started keeping a spreadsheet on 22nd Jan).

I've been really trying to get the Barclaycard paid off because of the interest. It should be paid off by the end of February at the latest. I then intend to do a balance transfer from the Marriott Card as Barclaycard are offering 0% on BTs until June, so this'll give me a bit of breathing space.

I know I'm quite lucky really as expect to have between £1,500 and £2,000 to pay off our debts per month, as long as we stick to the budget! I know some people are in a much worse situation, and I do feel embarrassed about how we got here really, but as I said before, it is only recently that we've been in this position, so I really want to make the most of it now, as you never know what's around the corner and I so want us to be financially secure, particularly for my daughter's sake!

Thanks again for joining me and for the welcome x

Chardonnay

Good morning! Well I say "good" but am feeling rubbish this morning, seem to have the beginnings of a cold. OH has also done his back in so we are right pair today!

Weather sounding pretty rough outside, am just going to jump in the shower as working today. Hoping for a NSD today, the only thing that we may need soon is bread, but hoping to make it through today without having to buy any.

Some more aims for me:

1. Have been doing a bit of self employed work since May, in my spare time, but need to put in a bit more effort as have hardly done any in December! So my new aim is to do at least half an hour a day, when I'm at home, so we'll have a nice little bonus at the end of the month to throw at the debts.

2. I also need to lose weight. I had lost 1.5 stone since January by running and doing Weight Watchers online but both have fallen by the wayside over the last couple of weeks, and heaven knows what I weigh now! Have given myself a re-start date of Monday 6th January, so will need to be working towards that to make sure I'm mentally in the zone! :cool: Find it so very hard to drag myself out running at this time of year, as I like to go before work, so I've decided that if I can't face it, I'll do half an hour on the exercise bike instead - no excuses!

3. My treat will be one bottle of wine a week, which will come out of the food budget. OH doesn't drink at home really, although will sometimes have a glass of wine. Must stick to that and just drink at weekends.

Onwards and upwards, and if anyone is reading this, wishing you a successful, debt busting day! :T

Mrs_Cheshire

Just wanted to say your doing so well in tackling your debts. I've just started a DMP and am managing well on the budgets we've set!

Chardonnay

Hi Mrs Cheshire, and thanks! :wave:

Well done on starting your DMP and sticking to the budget. It's just a weight off your mind to take control and make a start isn't it?! Hope the time flies by and you'll be debt free before you know it!

Will have a look out for your diary if you have one, just starting to subscribe to some now.

Chardonnay

Had to give in and buy some bread this morning - forgot about daughter who eats like a horse!

In other news, received a letter in the post from Barclaycard today offering me 0% balance transfer until October, which is great news! Will give us a bit more breathing space anyway.

Hope everyone is having a great day. Struggling on with my cold, I think I've got man flu, sniff sniff, but no sympathy from the OH!

Have to get better for tomorrow!