DFB35 Diary

DFB35

Im such an impatient person, I would be the first one to admit to it haha.. And I get very obsessed about things although this can be a positive as at the moment Im obsessing about my debt

Also having a few days off and lots of time to myself made me think about it and obsess even more.. anyways... coming to my point now I promise

I have called up about my Loan 1 to ask how to make overpayments (in my earlier posts I mentioned I wasnt sure how to go about it all) and it was easily enough.. They gave me an account number and reference number and have adjusted my account to accept over payment and reduce interest etc.... I have actually felt anxious about calling, god knows why (but i do have anxiety issues).

So now I can make overpayments on Loan 1 and Loan 2

AND the best thing is I have asked them about the balance figure and it was less than what I had for it at £6,653 (instead of £6,812)! Just to test my new overpaying power I have made a transfer off £500 towards it - which was in an emergency savings account but we are due to have about £400 left over this month of which I will put some toward the emergency fund and some towards even more over payment.

Total Debt figure now £18,378

Next week, I will call up both loans just to check my over payments gone in ok and will get a more accurate figure for Loan 2, hopefully will be few hundred less as it was with Loan1.

Now will change my signature and back to work and stop obsessing about things :P

DFB35

Sometimes I think what I would do if I was debt free..... Hopefully hopefully fingers crossed I will be by September 2018 or sooner!

But to have that extra money each month would be amazing, our minimum debt repayments are just under £500 a month! But for these 3 and a bit years we will be paying so much more to try and get it all paid off asap.. £500+ a month

I think the first thing I will do is SAVE up for a family holiday

I will start overpaying my mortgage, I was so shocked to read on another thread that even £100 overpayment can reduce it the overall amount a great deal!

I will also save a large emergency fund

And hopefully hopefully will finally do something about a change of career! Been wanting to do it for awhile, but the lure of money holding me back, as retraining etc will take time and a reduced income we cannot afford at the moment.

There are a few other things such as never ending house improvements and maybe another car, which might hault my career change. But when the time comes just knowing that I could get out of the rat race and that I could afford a pay cut will make it easier to decide.
As it stands I need to keep going in my stressful but well payed full time job, and it's not all bad.. Just rambling out loud really.

Like a few other posters on here I feel like I'm wishing 3 years away, I will try to take some of the above advice on board and try living a little too. A little personal spending fund But not just yet at the moment I feel like I actually don't want to spend any money! And I really don't want to go out! I don't even want or need anything.. Just to stay focussed and pay off debt. Little by little

mummytogirls

Afternoon DFB35, just found your diary! Will catch up properly with you later but well done for what you've achieved so far xx

lcc86

Hi DFB35,

I'm subscribing to your diary, I have about half your debt but only one income and with any luck the same debt free date in 2018!

I know what you mean about socialising, I have had to say no to going out an awful lot, but have learned that expensive nights out can be replaced with trips out for coffee or to each others homes.

Anyway, good luck and I'll be keeping track!

HarrysMummy

Hi there DFB35

Just found and read through your diary, well done on paying off some of the debt already. It really makes a big deifference seeing the figures go down each month, veen if it's not by a massive amount.

I don't have as much debt as you but me and OH are on quite low wages (i've also just gone back part time after maternity) so moey s tighter than we'd like. But keep hacking away at it and it will all clear in time.

RE the children buying their clothes, we always did this when we were younger. I think once we hit the age of wanting certain clothes to be like our friends etc then my mum told us we would have to save for them ourselves. She would buy the majority but if say we needed a new pair of jeans, she would buy the non brand or basic style etc and if we wanted the branded fashionable one we would have to pay the extra to make up for it. I was always happy to do this and would save up pocket/birthday/xmas money to fund what I wanted. Likewise at Christmas, we would write a list and ask for whatever we wanted but would always get some 'useful' items such as clothes and toiletries along with our presents. I will be doing that with my little boy as well. Trust me I don't and didn't feel hard done by for buying the clothes I wanted and it meant I could choose and I could go out and spend with my friends rather than shopping with my mum (even if she was stalking a few metres behind haha)

It's geat that you have managed to find out how to overpay for both loans, glad you have found a system that works for you in organising what you're going to over pay first. I'm mainly overpaying with extra money earnt through eb*y sales etc so it's slow and steady but it's lowering the figures. I've decided to hit the lowest card debt first and clear it as I'll then only have one debt and can focus on that.

Anyway enough of me rambling on your diary!! I've subscribed:)

DFB35

:hello: and thank you for popping in my diary!

It really makes a big difference knowing there are others in our situation and these boards are so supportive!

I have called up my bank to check on Loan 2 - and the over payment had gone in ok AND the overall balance is less at £10,453

Very happy and will update my signature with that!

Now it looks like we payed off LOADS this month! But this is a bit deceiving as I have put all our emergency savings that we have built up since August towards overpayments, so from now on the figures will be going down a lot slower (but they will be going DOWN!), still I am very pleased

Have a great weekend all!

mummytogirls

You have a great weekend too DFB35! I forgot to mention about the clothes situation before I don't think its unacceptable for DD to spend some of her money on clothes. She might even appreciate being in control with it but also appreciate the value of things and how quickly money can be spent!

We took DD2 to spend her birthday money the other week and whilst we were there we bought DD1 some new trainers which she was desperate for. DD2 decided she needed some too which she didn't, so we gave her the choice to spend some of her money on the trainers which she did no problem xx

DFB35

I really should be getting on wth some housework, but instead I'm on here looking at my budget for next month

A few things have happened with family which made me upset and angry at the same time.. I don't know if I should post it on here just incase any of them read it at some point in the future! Who knows and this is presicely why I don't keep an actual diary for the fear of people reading it.. As even though I'm upset and angry I still love my family..
Basically my mum always has money trouble as long as I've known her and I've been trying to help her, it's very frustrating.. But now I just have to help myself and my immediate family first (ie kids and hubby)? It's hard when she asks to borrow money, even if it's 10-20 quid, as I'm trying to budget now and it throws it a bit! I think we are still seen as the "well off" ones of the family. I suppose I can't blame them as up until August I would give (I mean lend but to be honest not often had it back!) money and not be overly worried about anything. Going on holidays, expensive new car etc.. It's easy to see why people would think we well off..

Now my mum aside... I had another close family member asking to lend money last night, I said "sorry can't do its a week before payday". But to be honest even if I had why should I?!! This family member is young and can bloody well go and earn it themselves .. I work over 42 hours a week, taking me away from my kids living a good life yes. But now repaying back for the things we wanted but couldn't afford.

Jezzz this is turning into a rant whereas I was meant to write about my next months budget... And breathe.....

The worst thing about this recent situation is that if worst came to worst a family member will have to move in with us while they sort themselves out.. Which would throw my food budget, I'm going to have to get very tough and not be a pushover to be honest!

Ok this post is a complete write off now, I will have to let this post go and will post a completely new one with the next months budget.

DFB35

Ok let's focus

I'm planning NSD weekend (food shop came, childcare money taken out). Husband will take out lunch money on Monday - me NSD monday. This will take us to tuesday payday with 300 left over from last months wage, this is going into emergency savings for now.

Our bills for the month (this includes mortgage, all bills, standard loan repayments and childcare for the month) = 2,400
Food for the month, as hard as I try I can't get it under 60 a week sometimes more argh.. So let's say average with a bit of wiggle room = 260
Pet supplies for the month = 20
Petrol = 40
Kids activities, this is a lot but includes daughters horse riding = 110
Husband money = 120
Travel = 223

Unexpected, God know what might come up money = 100

Total spends = 3,273

In theory this should leave us with 550 left over at the end of the month for savings, debt busting... BUT we are fixing up kids rooms, so extra spends needed and I'm not sure of the exact cost at the moment:

Shelves
Canvas
Lamp
Picture frame
We also need some light bulbs (funny how I never noticed how expensive light bulbs were before LBM )

And we will need to buy a new mattress, already bought two mattresses last month, but had to get a refund as one was faulty, still waiting for the money to go in my account. Problem is the mattress we bought was in the sale (probably why was faulty! Although the other is perfect).. So even with the refund we will need to pay another 100ish on top.
I will estimate all of the above plus mattress to 300.

So in theory we should have 250 left over at the end of March.. Which will go towards loan overpayment/ savings!

This is an estimated and quite generous budget so fingers crossed we can do even better

I will update my signature with the savings from february wage and will finally get on with my housework now!

Igamogam

As bad as you may feel I think you are right about the loans to family members at the moment. I would be honest with them and say why but I have a feeling they would be incredulous as you have, as you say, racked up your debt paying for things you wanted ( ah the difference between need and want !) that you couldnt afford............

Your plans are looking good. Have you thought about looking/requesting on fr**cycle for stuff for childrens rooms - I was thinking picture frames. I have just got a full length mirror for DD2 room - absolutely nothing wrong with it and person even delivered it for me