Paying the car tax via EBay, and other shenanigans.

mfmaybe

Steph, don't be too impressed. The shameful fact is I earn a very good salary, but have the committed expenses to go with it. Bear in mind that I haven't got even close to your £1k/mth debt repayments! But I've realised if I don't start setting this money aside I'm always going to be in a hole. You are doing so well, and it won't be long before the equivalent can go to savings instead.

Also errr I'm an accountant so there is no excuse. . And it's still 3 weeks to payday so anything could happen!

StressedSteph

Hi mfmaybe,


Its such a difficult balancing act isn't it. Knowing how much to save vs pay debt.


I have been very foolish and have never managed to build up the Baby Step 1 on Dave Ramsey's plan = £1,000 Beginner Emergency fund.


I am always in so much of a rush to pay down the debt that I have just never managed it. Trouble is hubbys work seems to be drying up abit and if we did have that fund it would cover two weeks of unemployment.


I am also worrying that I am yet to put any little savings away towards the car, birthdays or Christmas yet.


I may have to start being abit more realistic and not be trying to pay 1k per month off debt and actually put that money to savings. Depressing though as I really want the debt gone asap, can't cope with it hanging around any longer.


Hmmmmm What to do.....


Hope you're having a good day xxx

mfmaybe

It's a tricky one. OH and I are both salaried so the income is a bit more certain. For me, none of my debts are in default, so if I needed a true emergency fund, I could use cards (yes I know that's not the advice on the boards ). So perhaps in that respect, setting aside money for car repairs etc isn't the wisest plan. On the other hand, I know that I always have to spend odds and ends on the house or a vehicle or whatever, so they aren't emergencies and hence should be saved for. In other words, I should start good habits and set aside money for non-emergencies, but I don't think for me an emergency fund should come before debt, as I could always chip back in to the debt I've paid down, if I really really had to. Though I'm trying to think of what would be a true emergency. I guess something like having to replace my horse's field shelter in the depth of winter.

I think if the debts have become a problem (I think you've stopped interest on yours, yes?) then I doubt accessing new credit is going to be an option. In which case, I'd be inclined to get that emergency fund set up, especially given your husband's self employed status. It would give you so much more peace of mind and could always be used for debts at some point towards the end, a sort of balloon payment if you like? Food for thought certainly. A lot depends on individual personalities and discipline, apart from anything else. That's why I love these boards

Cold here today, snow currently blowing in but not lying yet. Fire has been on all day. Off to go and see to my horses soon before it gets dark. Excitingly and terrifyingly, I have now stopped all the medication I was on for my post-IVF care, so things are literally on their own. Things seem to be progressing well, as far as I can tell without my own ultrasound machine. Just over 14 weeks so into the second trimester, which is amazing. Luckily still in normal clothes so hoping those maternity trousers I ordered won't be needed for a while yet. A friend has also found a few tops for me.

Oh, and as for the challenge of doing it cheaply, Steph you will be proud of me. So far, family and friends are providing second hand:

Bugaboo including car seat (never been in an accident, don't worry)
Bouncy chair
Cot and other furniture
Moses basket
Activity centre/baby walker
Some clothes
Spare car seat for other car
Mclaren stroller for when we need it
Cloth nappies
Baby einstein and other DVDs

And who knows what else. And all for free. Amazing :T. The joys of taking so long to get pregnant. We will probably offer the biggest donaters a meal out or something as a thank you though.

mfmaybe

Have just worked out that in the 12 days since payday, I've only "spent" £90. This breaks down as:

£28 food shopping (my half)
£4.50 on lunch one day
£45 for a hen-do (family so have to go!)
£13 on maternity trousers. Maybe a bit early, but on sale and will be needed soon enough.

Of course my bank account is pretty low as I've transferred the usual amount into house account, paid DDs and family debt, set aside money for bills etc, paid the farrier who came just at the end of last month etc. But I think that's not too bad in terms of controllable spend. It will of course get worse, car needs fuel by end of week, need to book the hotel for the wedding soon, but I'm happy with it so far.

Paid our house insurance today, and for the first time ever we had the money set aside, which is just as well as it's huge (past claims and a few expensive items to cover). Also as we are "ahead" compared to where we were last year, I think I can up the amount we put into general savings by £30/mth. Every little helps

Today was a NSD (I can claim it as OH paid the insurance!) and tomorrow should be as well I hope.

ScattySkewbald

Glad to hear all is going well with the pregnancy - so pleased for you!

StressedSteph

Morning mfmaybe


Wow to all the baby items you have been gifted. Fantastic friends and family :T. Looks like a lot of it is the big priced items too. Such good news.


Yes you are right about me not having a new lines of credit, my credit score is shot and as I am on agreed repayment plans with all my creditors they are extremely unlikely to allow any extra credit to be added. Add to that hubbys very shakey self-employment I am not sure what the hell I haven't managed to get that 1k emergency fund set up yet. Unfortunately there are always 10 different directions I could send each £1 that goes into the bank and its so hard to prioritise where it is best spent.


Oh well, same problem for the majority of the population I suppose


Make sure you go careful when you go to sort out the horses. Don't want you falling over or anything silly. At least when you are in your third trimester it will be the summer, so you won't have to be skidding around on the ice heavily pregnant :eek:


Have a great day xxxx

mfmaybe

Ah yes, never mind every pound having a job - every pound has 6 or 7 or 8 jobs! I sometimes think "oh wouldn't it be wonderful to win a bit of money, maybe £10k, that would solve so much". And then I realise that it might pay off the debt and leave me a little extra, but we still need new windows and a new septic tank (glamorous!) and have maternity leave to save for and the car will probably need replaced soon, and and and..... But it's easy to be greedy and we just need to keep plugging away and living within our means. Ha!

Snow has been very pretty this morning. Fire is on which is lovely but making me want to have a sleep. I better get back and do some paid work now.

mfmaybe

Well today has turned out to be quite the opposite of a NSD . Couple of bales of hay to pay for, paying the January big bill (that's saved for, so does it count?!) and booked the hotel we needed to book. Think that will be our last trip before D-day unless my bonus is very much better than expected! Also naughtily ordered another maternity item but should be cash neutral. Quidco had an offer for a bonus of £10 if you spent at least £5 in January. Signed up for it, ordered a top for £10, have 50p cash back plus, hopefully, the £10 bonus. With free P&P I should actually be a tiny bit up :T Also earned £40 Cashback on the hotel booking, have about £60 in various stages with another £25 that I can't chase until 60 days have elapsed, grrr. The good news is that none of this is currently allocated to anything specific, so could be a simple debt repayment. Or maternity savings, or go towards the weekend away for the wedding, or general household savings, or towards the bathroom we desperately need to do before July. See - not just one job!

Nearly the end of the week. Have just paid my other credit card bill - had the car insurance on it, but unfortunately it was the one that I was charged for even though I was taking out a policy elsewhere. Apparently they charge you a week before it's due, if you don't cancel by then. They have refunded, but the charge and refund fell either side of the credit card statement date, so I have to pay it this month, then the refund next month. So irritating. :mad: I'm sure somewhere in there it's my fault, but I thought so long as I sorted it all before renewal date it would be fine. Also the bill was a bit higher than I thought (missed a couple of small-ish items early on in the month) so might be struggling with my targets.

mfmaybe

In a final cluster post, being doing some calculations on childcare. As far as I can tell, if we go for 5 days/wk childcare, we are better off under the new scheme. Picking one nursery near me, my share of payments after the government 20% will be not too dissimilar to the amount I'm currently using to pay off the family debt each month. OH will pay his share too obviously

Doesn't leave me a ton of money spare after I set aside all the annual bills etc, but at least I can afford to go back to work. The downside is it has to be full time, the sums just won't work otherwise. It does however mean I can't run up any more debt when on mat leave so will have to think long and hard about that.

mfmaybe

Well today isn't being much of an achieving today. Though I've got the tax returns submitted. And hoovered the house. That's about it. OH did the shopping and it wasn't too bad, might have to snoop when he isn't looking to check he stuck to the list .Menus all planned. We've started, once a week, cooking a new recipe out of one of our many recipe books. No rules other than it has to be something we've never done before. Tonight is lamb and aubergine tagine out of HFW's Meat book. OH's turn as I did the last couple. Shame I can't have a nice glass of red wine to go with it - but it's a sacrifice I'm willing to make.

Bank looking very tiny at the moment but it's all part of the "set cash aside plan". So far I need to find another £25 but I think it's do-able. I noticed I had just under £12 payable from TCB. Didn't need it for any other urgent payment so have gone for the Amazon option for the 5% boost, will need to order shampoo and steam cream soon so should just about cover it.

I do however need to get back into the habit of fleabaying stuff again. I just never seem to have much. I wear clothes until they are falling off my back normally. I don't own much gadgetry and use what I do own. Horse stufff sells well but don't have loads suprlus right now. I sold a much loved handbag a couple of weeks ago for a tiny amount for a designer brand. Was incredibly honest about the condition it was in (VERY used) and the buyer tried to get their money back by saying it wasn't as it looked in the photos. Just made me cross for the £10 I made .

Anyone any ideas to get me going again? What do you find sells well? Oh see now I've just remembered I have a ski jacket to sell - well done everyone