SOA advice - thank you

fieldend

PS. Those EDF and Thames water accounts in credit, it's actually not much credit, so I prefer to leave it there, especially for EDF. On Thames Water I got burned before, I was not paying enough per month and all of the sudden I got a big bill. (my mum comes over the summer and Easter hols to look after my DD and bills go up).

Mimi_Arc_en_ciel

for dinners yourself - If your like me cooking for one is a complete bore....

Seriously, invest in a slow cooker. You can make "dump bag" meals (literally, you just prep for a meal and pop them in your freezer. When you want one, take out, defrost and dump into the slow cooker. Lets say you make a meal for 4. You have a meal for that night, one for work and 2 that you can freeze (These are ok to re-freeze as you've changed the status of the food)

fieldend

matchboxfull wrote: »

Ah, just be careful with the bonuses - if you tip over the £50k you'll have to start doing a tax return and returning some of the CB money.

Looks like you could get the majority of the debt paid back before the 0% ends if you stick to your plan.

I can completely appreciate your reasons for wanting to keep the school lunches, but with those, your own lunches, groceries, and eating out you're spending about £500 or so a month on food. That's tonnes for two people. Maybe you could take packed lunches?

I'm not worried at the moment I will go over £50K I wish, but it's only when I include child maintenance I get there, and that doesn't count as far as HMRC is concerned.

Yes my food spend is [STRIKE]high[/STRIKE] obscene and that is on my to do list to stop buying work lunches, bring my own.

Mimi_Arc_en_ciel

fieldend wrote: »

On ASDA - yes I'm afraid I buy branded and organic and generally expensive stuff. I don't meal plan and I'm not careful with grocery spending at all. So definitely yes... will look at those boards, didn't realize they existed.

THANK YOU!!!

Try the down shift challenge. Once a week (or twice if you are feeling adventurous!) try to down shift a brand. Some things you wont know a difference, others you will. I personally cannot drink cheap cola. My kids have no idea that the coco pops they eat aren't the expensive ones (I put all my cereals in a glass jar so they don't realise) and the cheaper version has less sugar in them

Have a read of Martins section on shopping. Its a real eye opener: http://www.moneysavingexpert.com/shopping/

Another one that shocked me was Jack Monroe. http://cookingonabootstrap.com/
Jack shows that cooking on a budget and eating decent meals instead of rubbish is do-able. Her firecracker sausage recipe is amazing (and is freezer friendly so you can bulk cook)

fieldend

Mimi_Arc_en_ciel wrote: »

ok so lets assume the 0% ends in May (always go by the earliest date so you aren't cut short)

So CC balance is £9251. You are trying to put £500 a month towards it. There are 15 months between March '16 and May '17. That gives you a total of £7500. That means you will be £2251.00 short on your credit card and you will be charged a high APR (Unless you can balance transfer, and this isnt always gauranteed)

To pay your CC off in time for the 0% you need to be paying off £616.73 each month. What i would personally do, if you can - pay the min off EVERY MONTH WITHOUT FAIL (You've already stated this is £92)

I would then open up a high interest account (TSB do 5%) and I would put the other £524.73 into this account and leave it there until the 0% gets paid off. You would then earn some interest and your CC would be paid off BUT this will take some doing. You MUST NOT touch the TSB money.

Thank you so much to ALL of you for all these suggestions, I can't keep up with reading, have to go back and re-read carefully.

On the debt. My annual/year-end bonus is £5200 gross, which isn't included in the above. I just got promoted (it was much lower in the past, but always paid so I'm kinda' counting on it even though it's not on the SOA). So I can only stick to my debt repayment plan IF this bonus is paid in full.

Your suggestion to save until May 2017 is very good but I'm afraid to do it. I'm afraid I will touch those money, it's happened in the past... and I think I have not had my light bulb moment yet, as I HAVE NOT STOPPED USING CREDIT CARDS. Sorry for the caps.

PS. Last bonus was spent on holidaying and Christmas presents....

Mimi_Arc_en_ciel

fieldend wrote: »

Thank you so much to ALL of you for all these suggestions, I can't keep up with reading, have to go back and re-read carefully.

On the debt. My annual bonus is £5200 gross, which isn't included in the above. I just got promoted (it was much lower in the past, but always paid). So I can only stick to my debt repayment plan IF this bonus is paid in full.

Your suggestion to save until May 2017 is very good but I'm afraid to do it. I'm afraid I will touch those money, it's happened in the past... and I think I have not had my light bulb moment yet, as I HAVE NOT STOPPED USING CREDIT CARDS. Sorry for the caps.

This is why that solution isn't for everyone but trust me, you can do this! I'm living proof that it IS do-able. My ex dropped me in £34k worth of debt, with a newborn (before he shacked up with someone from his office!) I dragged my butt (and his as we were jointly responsible) out of debt using the help of this board. I now have savings, my kids have savings and I'm now saving for a new car. It's such an achievement to be able to look around you and think "I did this, and i don't need anyone" - and what a fantastic example you are setting for your child.

Things like entertainment - That could be something so simple, but create so many memories.

Your child probably wont remember what restaurant you took them too but i can guarantee you that if you did something like baking at the weekend with them, they will remember that AND you'll be learning them how to cook. Doesn't even have to be anything fancy (We make shortbread today using an old bero recipe book! my 8 year old measured everything out, my 4 year old kneaded the mixture and got all sticky and my job was to put it in the oven) then stick a movie on and eat whatever you made

Stop using your credit cards to buy things though, until you learn how to use them correctly*

(*If used right you can earn a bit of money from them but you have to be super strict to do this, which at the moment, you're not at)

mumps

Mimi_Arc_en_ciel wrote: »

This is why that solution isn't for everyone but trust me, you can do this! I'm living proof that it IS do-able. My ex dropped me in £34k worth of debt, with a newborn (before he shacked up with someone from his office!) I dragged my butt (and his as we were jointly responsible) out of debt using the help of this board. I now have savings, my kids have savings and I'm now saving for a new car. It's such an achievement to be able to look around you and think "I did this, and i don't need anyone" - and what a fantastic example you are setting for your child.

Things like entertainment - That could be something so simple, but create so many memories.

Your child probably wont remember what restaurant you took them too but i can guarantee you that if you did something like baking at the weekend with them, they will remember that AND you'll be learning them how to cook. Doesn't even have to be anything fancy (We make shortbread today using an old bero recipe book! my 8 year old measured everything out, my 4 year old kneaded the mixture and got all sticky and my job was to put it in the oven) then stick a movie on and eat whatever you made

Stop using your credit cards to buy things though, until you learn how to use them correctly*

(*If used right you can earn a bit of money from them but you have to be super strict to do this, which at the moment, you're not at)

Cooking with kids is great and it encourages them to try different food, well if you have fussy eaters it can be a great way to get them to try things.

Mimi_Arc_en_ciel

oh just another thought. If you are really set on buying organic food etc try and see if you have a local farm (thats cheaper than asda!!)

Even look on facebook! We have a local veg shop that does deliveries and has veg boxes

Mimi_Arc_en_ciel

Ohhh - Why didn't i think of this before. Stuff buying organic veg from asda - grow your own! honestly its so easy and you don't even need to A, know much about gardening and B, you don't need a massive space. We currently have mixed lettuce growing in tubs on the back yard

this is a useful site: https://www.rhs.org.uk/Advice/Grow-Your-Own/Vegetables

Also - Sounds silly - try pinterest for ideas.

fieldend

Mimi_Arc_en_ciel wrote: »

This is why that solution isn't for everyone but trust me, you can do this! I'm living proof that it IS do-able. My ex dropped me in £34k worth of debt, with a newborn (before he shacked up with someone from his office!) I dragged my butt (and his as we were jointly responsible) out of debt using the help of this board. I now have savings, my kids have savings and I'm now saving for a new car. It's such an achievement to be able to look around you and think "I did this, and i don't need anyone" - and what a fantastic example you are setting for your child.

Things like entertainment - That could be something so simple, but create so many memories.

Your child probably wont remember what restaurant you took them too but i can guarantee you that if you did something like baking at the weekend with them, they will remember that AND you'll be learning them how to cook. Doesn't even have to be anything fancy (We make shortbread today using an old bero recipe book! my 8 year old measured everything out, my 4 year old kneaded the mixture and got all sticky and my job was to put it in the oven) then stick a movie on and eat whatever you made

Stop using your credit cards to buy things though, until you learn how to use them correctly*

(*If used right you can earn a bit of money from them but you have to be super strict to do this, which at the moment, you're not at)

Wow that's very impressive. I'm humbled by your achievement. And feeling hopeful...

Yes you are right. My DD loves cooking and she loves spending time with me. We just had a great low spend half term so yes I know it can be done.

On credit cards, at the moment I'm forcing myself to put it all away. This month I can't as there's £1.65 left in my bank account until the 25th and I need to buy some food - so will add at least £10 to it, as there is not enough in cupboard/fridge to last until Thursday.

Thank you again, you're inspirational.

Will come back to reread this thread later tonight, my DD is being dropped off shortly from a playdate and I need to feed her and prep for school/work.

Thanks all x