*~*~OrangeFairy is nearly there...just a couple of hurdles left~*~*

OrangeFairy

Hi everyone........I am now back with motivation to shift the last bit of this debt with the support of my new diary.

I will add to this section later when I have a little bit of alone time and the kids are in bed and Hubby has his boys night :p:p:p

Right I am finally back!

Quick intro...I am orange fairy and I live in devon with my husband and our two daughters. We have struggled with debt since we got together 13 years ago. Hubby has been through an IVA in the past but we are near to being on track.

We have had hard times debt wise but now financially we earn enough that one of our wages is nearly free each month. So it is a bit disheartening that we are not debt free by now but we have lived well along the way. My biggest flaw is buying things for other people. I spend far too much in this way.

Before Xmas I announced we were under £3k which was fab! However a major xmas overspend meant now our balance is at £3372 which really is unacceptable!

This year I am going to save into an xmas fund as we normally just use our 'free' money in November/dec which means we are then stretched to do anything nice during those months!

So I am looking to the small things such as not buying lunches, selling stuff we have in the house and sticking to budgets for presents etc.

Hubby has his birthday this month so I have spent a fair chunk of money on that so what ever I have left I will pay off the Xmas balance.

Positives........

Hubby started his new job at the end of November. His wage will go in stages until his 6 month review when he will then be on £6k more that he was. I have done our SOA on the wage is will be at after 3 months which is an increase of 3k on his current wage. This will be the case at the end of March.

Hubby paid for flights to Switzerland this month. It is for 6 days in the May half term for £250 return for all 4 of us! We haven't booked accommodation yet but the flights were a bargain.

Big expenses this year

Holiday to Switzerland
Mum and stepdads 50ths
Driving lessons for me
Couple of centerparcs trips
Doing up hubby's bicycle which is an old one he bought as a project
SILs wedding
Harry Potter studio trip in February


So hoping to get through these as pain free as possible!

OF x

OrangeFairy

Here is our SOA

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1531.44
Partners monthly income after tax....... 1662.89
Benefits................................ 136.4
Other income............................ 0
Total monthly income.................... 3330.73

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 550
Management charge (leasehold property).. 0
Council tax............................. 123
Electricity............................. 42
Gas..................................... 40
Oil..................................... 0
Water rates............................. 45
Telephone (land line)................... 10
Mobile phone............................ 70
TV Licence.............................. 15
Satellite/Cable TV...................... 41
Internet Services....................... 15
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 90
Road tax................................ 15
Car Insurance........................... 25
Car maintenance (including MOT)......... 60
Car parking............................. 0
Other travel............................ 41.5
Childcare/nursery....................... 80
Other child related expenses............ 120
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 7
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 60
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1659.5


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 1000
Total Assets............................ 3000

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
ccs............................2660......30........0
sofas..........................712.......25........0
hmrc...........................200.......100.......0
Total unsecured debts..........3572......155.......-


Monthly Budget Summary
Total monthly income.................... 3,330.73
Expenses (including HP & secured debts). 1,659.5
Available for debt repayments........... 1,671.23
Monthly UNsecured debt repayments....... 155
Amount left after debt repayments....... 1,516.23

Personal Balance Sheet Summary
Total assets (things you own)........... 3,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -3,572
Net Assets.............................. -572

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

OrangeFairy

Right I had better set some goals

1. To be under £3k again by end of March
2. To be under £2.5k at the end of April
3. Sub £1.5k end of June
4. Sub £1k end of July
5. Debt free in August

Our tax credits overpayments stop in March which makes me £100 better off a month which will be great. Plus Hubbys wage will be £100 higher a month then.

Personal goals

Lose some weight as I am so unhappy with myself at the moment.
Make more time for my friends
Get out more at the weekend- as cheaply as possible
Write a new 101 things to do list

Plan

Once we are debt free hubby and I have agreed our first month will be buying a fridge freezer and a washer dryer as ours are on their last legs. Then we discussed perhaps treating ourselves to a desk and mattress before we really knuckle down and save for our house deposit. Our disposable income should be around £1900 a month once debt has gone and hubby has reached his 6 month mark at work. I am hoping for a payrise by August at the latest.....fingers crossed!

Right I had better go to bed. Will catch up on diaries tomorrow and get some stuff listed for sale I think. Also need to do a good meal plan and a savvy Mr s shop with my £12 off a £60 spend voucher!

OF x

ScattySkewbald

Good luck with your final hurdles. I have a similar amount of debt and similar time frame for paying it off (altho think realistically it will probably be July!)

Will be subscribing

Ali-OK

Great to see your new diary to debt freedom and lots of lovely plans too - shall enjoy following the final bit of your journey.

Fab news on hubby's new job and salary, a good pay increase there.

Snap on the washer and fridge/freezer :rotfl: Had to replace the washing machine last month as the bearings went swiftly followed by the control panel and the FF is playing up too - that's my first purchase when debt free too - should be June (or possibly May)

Without wishing the months away, here's to June :beer:

OrangeFairy

Hi Scatty and Ali - thank you for posting!

Ali - my washing machine seems to like the taste of our clothes so randomly makes little holes! And the fridge part of my fridge freezer thinks it is a fridge too! Identity crisis! This means we can't put things at the back of the fridge or they freeze :rotfl:Looks like we may be debt free at a similar time!

Scatty - just found your diary and subscribed!

Well this morning I am working on my 101 things to do and then we have food shopping. If I get time I can then list some things for sale!

Here goes.......

OF x

OrangeFairy

evening all,

Well I have had a productive day. Thoroughly cleaned the house with the exception of needing to hoover upstairs tomorrow. All rooms completely tidy....our bedroom has been a dumping ground since xmas.

Went food shopping, didn't need too much as we are using the freezer up so stocked up on yoghurts and fruit flakes. Needed to spend £60 to get our £12 off and we spend £60.32 :beer:

DD had a party which cost me a tenner on a card for her friend.

Then I finally ordered my organised mum calendar....I always wait until a few days into jan so it is reduced. It wasn't half price like normal but it was £8 rather than £12 so worth the wait. I need it so I know where I am!

Getting there with my 101 things to do list....15 more things to think of. I may pick some diy bits we need to do in the house.

I think hubby's birthday is sorted. Just need to buy some wrapping paper and sort him out a cake!

Right off to bed.....night all

OrangeFairy

Hello all,

Been a busy couple of days

Positives-

Still haven't bought a lunch as have taken some in every day.
Eating dinners from freezer successfully.
Listed 4 items on eb@y
Not spending on unnecessary stuff
Hubby's birthday presents are finished

Negatives
Still have no idea what to get my step dad for his 50th
Eating treats from the cupboard at home which isn't good
Not saving each month for kids clubs has bitten me in the bottom!

Costs for clubs and trips currently

Netball membership DD2 18.50
Netball monthly fee DD2 6.00
Cubs trip DD2 £54
Cubs subs DD2 £35
Guides membership DD1 £24
Guides subs DD1 £20
Netball hoody DD2 £15
Guitar DD2 £55
Wimbledon trip DD1 £50
Dance classes DD1 £180

Total £457.50

Paid some but still need to pay both guides, Wimbledon and ballet :-/ x
OF x

crunch_time

Cor this has given me an insight into things to come!! Im balking at the £10.50 per session charge for toddler to start playschool! He doesn't get funding until Sept and then we will need it for childcare!! I know he will love it though.


Well done for being determined to pay off debt but still have fun! you have inspired me to think about a holiday for us this year - we need some fun and life is too short! xx

starnac

Hi OF. You moved!!! Good luck on clearing your debt by June.

Your holiday sounds lovely too. I need to subscribe to this diary now so I don't miss you

OrangeFairy

Well so much for being good and posting on my diary! Oops!!!

There have been some bits and bobs since Jan. Not too much of the debt gone- will update figures tomorrow.

We had a lovely Harry Potter Studios /London weekend last month though all in all the weekend cost about £300 with everyone added up it was great to get away.

Paid last direct debit to HMRC for my tax credit over payment so that is gone and I am now £100 a month better off and don't have to deal with the blighters again!

Hubby got stage one of his payrise which increases his pay by £120 a month take home, he is loving his new job so all is good

Kids clubs and trips are costing me a fortune still- another 3 letters come home for trips totalling £130.

Need to list some items for sale as they are sitting at the bottom of my bed.

I have started following sl1mming w0rld over the last couple of weeks and have been swimming 2/3 times a week which is feeling really good.

This weekend my sister is back from uni so I am going to go swimming with her and we have a charity breakfast tomorrow.

I am hoping the weather is nice so we can do something on Sunday that is inexpensive as I want to hold onto money this month!

Meal plan and shopping list tomorrow morning I think

Will catch up tomorrow and up date figures