Crunchy pays it down....£20k...the final chapter

barnsleylass83

Hi Crunchy,
We are exactly the same we have become over reliant on having two good wages, but I have now taken the leap and will be working part time after spring bank, in a non teaching role so hopefully less stress!! We are currently looking at our budgets so that we can accommodate it, we need to, I hate feeling anxious about work! You have really inspired me in my journey I have a d's at 2. There is so much more to life than work keep.it up xx

DebtFree2012

Hi hun


I am back after a break over Easter. Sorry to hear the ropiness turned into something and hoping you're feeling a lot better now. To be honest, ours is lingering even though I feel well, it's still there. So many people have it, it's scary!!! I think how a plague would take over in times like this! Sad I know!


Re the work, I too would love to change things up but for us it isn't an option yet. I'd like to open a farm shop one day but that won't bring in what we get now, so I need rid of the debt first. 1 year and 11 months to go for me.

DebtFree2012

PS get the dog, there is no other option

OrangeFairy

I am loving the sound of your dream.

I am having a tough time with guilt with working full time at the moment and my hours aren't even bad as I can pick them up for school 2 days a week and they are 13 and 10 so not little.

It is the holidays that are hard. I have had this week off with them which has been lovely but I am back to it next week which means 5 days that the kids are shoved around to various places!

I really hope you get a bit of time until you get a job.

It is so easy to get used to two good salaries. Funnily enough I found an old t@x cr3dit form from 4 years ago and our combined wage wasn't much more than what hubby is on now without mine full time wage! But we coped okay (ish)

I really hope you are feeling better now - sounds awful

OF x

crunch_time

Morning everyone!

Thanks for all your comments! Its really useful to see what others do/have done as its not the sort of thing one can discuss with ones friends as money is such a taboo subject. I really appreciate it - thank you!!

I was saying to the husband yesterday that I feel so refreshed since I was ill. Haha! I think I was forced to rest and that has made a huge difference to my well being. I remember saying to you guys that I felt ropey back at the beginning of March so that illness took nearly a month to come out! I think I was suppressing it with coffee and alcohol. I was eating well and exercising but not getting enough rest. Finding a yoga class is now back on the agenda and cutting back on the nastys is a priority.

The reality is with all our debt and our ambitions we cant really afford for me to take any intended time out and I have to get over that. If we didn't have husbands loan of £275 coming out every month for the next 4 years then yes we could perhaps. I am definitely one of life's 'ponderers' and its important to me to mull things over A LOT to make sure I have made the right decision - even if there really isn't a decision to be made. I think about things too much and sometimes need to get things on paper to help me see things clearly. Here are my thoughts....

1) I've made a list along the lines of If I didn't work, what would I do differently/more of/less of and is there any way I could still those things whilst working part time. It made me realise that once the horrible commute is gone, I will be living my dream if I can look after myself and balance everything - including starting a blog if I like. Its down to me and the use of my time and I'm much better at juggling everything these days.
2) DD will LOVE going to nursery. She will be nearly 2 at the time so it is the right time and I will still get 2/3 days a week just with her every week - lucky me!! And still get to pick up DS from school 2/3 days a week.
3) I have adjusted our budget so we live off husbands salary and mine pays for the extras - things we need to buy/extra debt pay offs/savings etc. After childcare this is £300 - £400 a month. This will shrink our debt massively and very quickly.
4) After 4 terms DD will get her free hours and that amount each month is increased.
5) I love working and challenging myself so this can be my new challenge. This is my having it all.
6) once the debt is gone and DD is at school, we can save up very quickly to achieve our ultimate dream of showing our children the world. I would also like to teach abroad and working will enable me to do that.

Unfortunately, my job is filled with bulls**t - its just part of the game but the essence of it I love and I don't actually mind the good challenges. I'm very much looking forward to moving schools as I have been there too long and its really draining me!

Phew, I feel so much better for getting it all down on paper! I'm so glad I started this diary. It is really helping me gain some perspective!!

So we are on with the job search! And if I am unemployed in September (and I will be prepared for it) then it will only be temporary as something will come up!

14 weeks and 27 working days to go! I can do this.

Money saving things I have done these last few days
- a family member gave us some money (£100) to spend on the kids so after I wrestled it off husband I have used it to buy them some half price clothes from sains. There is about £10 left so I am going to use that when I go to the second hand shop in the next few weeks.
- Husband and DS are currently washing our 2 cars by hand!! This is saving us £20 - £10 per car at the local car wash. And DS is loving it!
- The remaining bits are on bay of e - there is not a lot but every little helps!
- I have also earmarked two large things in the house that we no longer need to go on gum tree. Hopefully get about £20.
- Out for dinner tonight with friends - they are cooking so cheaper than a take away or meal out. Just got to buy wine and dessert. - £10.

Right off to do some organising! Enjoy this sunny weekend everyone - its sunny where we are!! (sorry for the long post) Crunchy xx

crunch_time

Oh and Debtfree2012 - we re definitely pursuing the dog! Will keep you posted!

And I FINALLY got round to ordering photos for frames a few days ago and they just arrived - they look lovely! Used photo box but love the idea of the app - will look at that when I get round (ha ha) to doing albums.

Crunch x

Laura2014

Hi

You sound so focused crunch. I've come back to my diary again as I'm due back at work in the summer. I just don't know what to do. I work in THE city so with communing it's usually an 11 hour day. Going to ask to work pt but not sure if I will be able to.


Love your point one about what you would be doing if working less. I will definitely do that to see if you can still fit it all in xxx
It's so hard balancing the little ones with working. I keep telling myself I will be working for ds for days out, holidays etc, but would love to stay at home.



Oh ds has a terrible cough so I think definitely something going around. Most of my family has it xxx

crunch_time

Laura - I found it hard to go back initially after my son - that was 3 years ago now and it does get easier! I'm going to tell myself the same things - that I'm working for this, that and the other so on those days we do those things or we talk about things I will make sure I appreciate it. AT the moment after every day I'm at work I say to myself 'that's £xxx towards debt - the shed deposit actually.' It works. Work is different after kids anyway.

Having a lovely child free morning lazing over a cup of coffee. Mmmmmm.

So on my signature I said I was hoping to have the goal of paying off the money we borrowed from our children's savings (actually our savings but for the children when they turn 21) to help pay down the debt this year.

The thinking behind this is that we would love to give each child a lump sum towards starting their lives when they turn 21. Either (hopefully) for a house deposit or education or something like that. When DS was born we started to save just £20 a month. When he turned 3 and we had a bit more money that turned to £40 a month. When he turns 6 that will be £60 a month and so on. I've never actually properly worked out what the end amount would be if we followed this pattern - over £20k!!!! Obviously we will follow this pattern for DD as well and keep it at levels we can afford.

As they are not getting there hands on this money until they are 21 (they are currently nearly 4 and 1!!) I don't have to worry about paying this off as immediately as I wanted. SO I have decided to pay off each amount that we borrowed £1040 for DS and £320 for DD over 10 years. That is just an extra £11 a month. I can think I can afford to add that to the current direct debit of £60 a month starting from next month.

So I have stopped fretting about it and wiped it from my signature as I have made a decision about it that I am happy with.

Right lets stick to the budget and wipe my credit card once and for all!!

Crunchy xx

OrangeFairy

Hi Crunchy

It sounds like a great plan - that money is better off being used somewhere else at the moment.

Its great that you are saving a nice sum for the children. This is a plan we have had for sometime but never put in place as we were nevet quite there with money!

DD has just turned 13 so it is something we should get on with before it's too late and she is an adult! Just need to get a nice deposit amount saved first!

I hope you are enjoying your child free morning.

My children are here but I feel like it is a childre free morning as I can honestly say I haven't seen them for 2 and a half hours. I have been pottering around downstairs and they are up playing with my sister who is the same age as DD2 - they are playing schools so seem very happy!

OF x

DebtFree2012

Well done on getting it all down and making some decisions. It takes a weight off doesn't it? Good for you.