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Just a Mummy

edited 23 September 2015 at 7:58PM in Debt free diaries
3 replies 590 views
cmcavoncmcavon Forumite
316 Posts
edited 23 September 2015 at 7:58PM in Debt free diaries
I have been meaning to start writing a diary for a little while now but always seem to have too much else to do! So here I am, biting the bullet and putting everything down for all the world to see.

We are a family of five, myself, husband and three children aged 8, 6 and 6 months. My husband works full time and until January I was a self-employed childminder. I have been on maternity leave and receiving maternity allowance which will run out next week. After lots of umming, ahhing, and calculating, we have decided I'm not returning to childminding. It wasn't working particularly well for us as a family with the long hours and intrusion on family life. Plus it just isn't worth it for the tax credits we would lose. I plan to return to work when our youngest is nursery/school age.



So here we are, a one income family with debts, marvellous!



There are many ins and outs of our lives and finances which I'm sure I'll share along the way but don't want to bore people this early on!
Basically, we have debts totalling a little under £20,000 and are very very slowly paying it off on a DMP. Due to a change in circumstances we've had our payments lowered and debt free date is now 2034!

I have managed to build up an emergency fund of around £1500 during my maternity leave through earning from some online bits and bobs which I'm desperately hoping to continue doing long term. My main panic is a house we rent out and having the ability to fund the mortgage if the tenant leaves.



I need to stick to a budget now and have a weekly budget set for food, petrol, birthdays, hair cuts etc etc. It's all about changing how we shop, what we do together as a family etc etc. Starting properly with that budget this week and already I've needed new boots, eldest needed wellies and hubby needed some tools! Still on track though.



So, enough waffle but a brief introduction, I'll update a little more tomorrow.
Making £1,000 plus every month from home :T

Replies

  • Today has been ok finances wise, not spent anything and made £8.60 online. Everything I'm making online has been going into emergency funds so far, although it's my son's birthday in 3 weeks so we will need to use some for that. We won't be going mad but he has a small list of things he would like which shouldn't break the bank.


    We have £17 left for the rest of the week. We've got enough food to last until Friday at least, enough petrol in the cars and enough change in the money pot for the kids activities this week. Mum is taking us out for a pub lunch on Saturday so £17 should easily cover Saturday night's tea and food for Sunday lunch. With the extra expenses we've had this week I'm quite pleased with how things have panned out.
    I've got a few bits I want to put on ebay so need to get that sorted some time, seems to always be bottom of the list to do for some reason.
    Tomorrow hubby is off and this has always tended to result in us eating out and spending unnecessarily. He's a terrible spender which often causes problems but he seems to be on board with the budgeting so I'm hoping that lasts!
    Making £1,000 plus every month from home :T
  • Had a bit of a "spendy" day today which makes me nervous! Bought eldest his main birthday presents, Argooooose have the 3 for 2 on toys so took advantage of that. Money came out of savings to cover it, not ideal but it's done. Bought some bread for £1.09 and paid £2 for eldest's cubs fees, both paid for out of the change pot.


    It's been a slow day on the online earnings front and nothing made today.


    Walked to school and tots group in a bid to cut back on short journeys in the car.


    Tomorrow I'll need to do a small top up shop to cover the weekend so that'll eat up the rest of this week's budget.


    I have a tendency to panic over finances but feeling ok at the moment. Maybe writing things down is helping. My Mum thinks I have a little of the baby blues which kind of makes sense. I struggle to deal with things rationally and panic overly. Anyway, that's today done.
    Making £1,000 plus every month from home :T
  • BobarellaBobarella Forumite
    10.8K Posts
    Savvy Shopper! I've been Money Tipped!
    Good luck with everything. It's a brave step to decide to give up the childminding and manage on 1 salary. Hope it all works out.
    " Your vibe attracts your tribe":D

    Debt neutral :) 27/03/17 from £40k:eek: in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
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