MrsS is getting serious!

debtfreeoneday

Well done on the weight loss, that's really good!

MrsSave

Wow.....it has been almost 2 months since I last updated this! Thankfully we've been sticking with it! The start of the year has been tight because of the lack of work before/over Christmas, but I'm hopeful that things are changing for the better. I've been working almost full time for the last 5-6 weeks, and the next 3 are pretty full up too. My aim isn't actually to be working full time, but at the moment I can't turn down work. As well as paying off our debts, we need to get some money behind us to make sure that we can live day to day without scrimping and can have small luxuries from time to time.

It has been over 6 months since we last used a credit card now. In that time we have paid 10.9% off from our debts. That is with basically paying the minimums. We need more to back us up before I can throw any more at it. I'm really pleased with that. I know it means it could take 5+ years to pay off, which isn't ideal, but surely doing it this way, enjoying life as we go along is the best way. I don't want my son to miss out on things because we were careless before he was even conceived. The difference now is that I make sure the money is there before we spend it.

Weight loss is going well too. I've lost 15lbs so far. Still plenty to go, but it is a start. As with the debt busting, they weight loss is happening slowly, but with me enjoying as we go along. If it is someone's birthday I'll have a slice of cake, etc. To me it makes it easier and more realistic. I want a food plan I can stick to. I fancied maltesers the other night, so I ate some. I enjoyed every last one of the packet!

MrsSave

It's been around 6 weeks since I was last on. Still trying to budget in the best way possible. It's not easy!! I've also updated my signature. We have a family loan to pay, but there is no rush for it at all, and no interest. As there wasn't a rush I kind of ignored it.

I've also lost weight recently. I got to the stage where I had no clothes that fit. So instead of saving up, buying off ebay/supermarkets etc I used my Next account :mad: I stocked up with things for the Summer as well as bits for now :eek: I spent quite a bit :eek: My thought at the time was, I'll just pay it monthly. How silly was I??!!

So, today, I've paid off the Next account with a 0% credit card. The M&S card in the sig shows the new balance. Thankfully I'm working more now, so my income has increased, but my work isn't guaranteed and the wages can change drastically from month to month.

Since our largest amount of debt, 16% has been paid off, which is a good amount. Before I can start paying off the extra debt, we are going away in August for 4 nights. We then have another 2 little breaks away within the next 12 months (one for family reasons, one because it was a good offer ). So, my new plan is:

Step 1: Save up £800 to cover 3 holidays :eek:
Step 2: Build up emergency fund to £500. I will then continue to pay a set amount into the emergency fund, but any extras will move on to step 3.
Step 3: Pay off the M&S card (£900). The reason I have chosen this one is because it is the lowest of the 4 remaining debts.
Step 4: Pay off family loan (£1600).
Step 5: Pay off MBNA card (£3000).
Step 6: Pay off Bank of Scotland card (£6000).
Step 7: Never, ever, ever get into debt again.
Step 8: Start overpaying the mortgage.

This will take around 8.5 years if I was only paying the minimums on each card. In 8.5 years I will be almost 40. I am using as a DFD October 2023 (102 months). The next step is to see how many months/years I can knock off this!

I am angry with myself for getting a few things wrong. But, 12 months ago I was spending on the credit cards not far off my Next bill. Other than the transfer from the Next bill, I haven't used a credit card since last September.

MrsSave

Steps 1 and 2

I'm joining steps one and two together. That means my first 'debt' is for £1270. I have seen the 1 debt vs 100 days challenge, and will hopefully join the next one, but for now I'm attacking this £1270 and will be paying it off in 100 days. July 30 2015, this debt will be gone.

Today I have made my first payment of £5 as I had money left in last week's food budget.

£5/£1270 paid

Hopefully I'll have a good couple of month's pay, and hubby should have a small bonus at the beginning of June. Once this has gone I can really start to attack the debts in the sig!

MrsSave

Well, for second with an A Level in Maths, mine is shocking at times. Steps 1 and 2 together actually come to £1324.85. That's my complete starting point. From today. Will pop it in my signature now!

I have joined the May grocery challenge. I'm starting next Tuesday, and will be doing it for 4 weeks this time around. I'm budgeting £205 for the 4 weeks (£35 per week plus one £65 big shop where I stock up on anything that's not perishable). Anything left over from there will be flying over to help steps 1 and 2.

Pay day tomorrow. Well one of my pay days! I have 2, sometimes 3 or even at times 4. I've checked my pending transactions this evening to see how much is coming in and got it all sorted within the budget!

MrsSave

Oooooh, got to update as well. I did my weekly food shop this evening and found some bargains. I got cut up turkey breasts for 75p down from £3, a pack of 6 turkey breasts for £1.35 down from over £5, a pack of 6 muller yoghurts for 49p instead of over £3 as the bag surrounding them has split and 3 boxes of chocolates for 50p each. These are dated until next November so that's a few birthday gifts sorted for the next couple of months. Oh, I also got a small loaf of bread for 15p. I love a bargain!! Budget for the shop was £35 and I spent around £24!! Woohoo!!

MrsSave

Pay day number 1 is here. One more to go and then I'll be able to sort all our accounts for next month. I did manage to pay £10 towards steps 1 and 2. Small steps.......

Just eaten, had diet coke chicken with homemade chips. Lovely! I love cooking! Chilling with a glass of wine now. Friday night at last

MrsSave

Morning!

May grocery challenge starts today. I've managed to stick to budget during the last 2 weeks so hopefully May can come in under budget.

I have actually started preparing for Christmas. Started making a note of ideas for my son and have started tracking some bits on camel camel camel. I also keep an eye on hot UK deals to see if any good bargains come up.

I have got back into the habit of eBay selling again. Made £13 after fees last weekend and have another 8 things on at the moment. This money is going into a separate account for when I reach my slimming world target and can buy some new clothes that fit!

I had my next bill through yesterday and had managed to overpay by £17. Oops! I'm keeping it in there though and if my son needs clothes there's money sitting there. Or, if not I can buy his Christmas pj's with them!

Have a lovely day, it's my day off today so I'm taking my son out for the day. I have an annual ticket to a local park/zoo so it isn't going to cost us a penny!

MrsSave

We had a lovely day out today. Didn't spend anything there, but did put £30 of petrol in the car and popped to the co-op for a couple of bits for food, so spent £3.98.

I've listed more things on eBay. In fact I've used up my 20 free listings for April. I've saved another 9 listings into drafts so will be able to add them with next to no work at the beginning of May. I have £10 coming to me tomorrow from a Facebook sale, will pay that into the bank and it can go towards steps 1 and 2 of debt busting. More money should be going towards it at the end of the week, and I'll find out tomorrow exactly how much job 2 is paying this month, I get so anxious waiting to see if everything has gone through correctly! Eeeeek.

MrsSave

It's 4:30am and I have woken to check finances! Mad or sad? It's amazing what goes through your head when you can't sleep. The good news is that my second pay is around £100 more than I was expecting. This means that I have been able to throw an extra £190 into steps 1 and 2, which means £200 has been paid off. Only £1124.85 to go. An extra £50 will be going in on Friday, and hubby gets a bonus at the beginning of June so fingers crossed another couple of hundred should be heading there!