Serial Debtor

sugar-walsh

Hello All!
So - here I am again. I've been using MSE for many years on and off and always find myself skulking around when I'm feeling the debt-pain.

Some things I have come to accept and realise over the years -
I'm a spender. It's just who I am and I have to accept that.
I can do something about it.
I can get out of debt - I've done it plenty of times before.
I love a good challenge and it's not until the pressure happens that I feel the need to do something.
Most people have some form of debt in their lives, it's not a sin, and we are not alone, even though it can feel that way.
There's only one person who can get me out of this - despite having joint accounts - I need to take charge.
My money mindset is shifting. I am seeing the pleasure in having money to pay for things without the constant worry about how we will pay.
It sounds woo-woo, but the way I view money really impacts what happens. Poor money mindset = poor me.
The word 'rich' is not bad.

I'm sure there's so much more I have learnt. Last thing to learn - how to put it all into practice to get back in money shape.

Debts -
Santander C/C £7687.37
Santander Loan £8844.19
Santander O/D £88.77
RBS O/D £1362.17
Mortgage - circa £84,000

About me (Us) - mummy of 4, married, self employed - wedding industry so expect to make some good inroads to this debt quickly. Minimalist married to a maximalist.

Currently we are selling unwanted items, working smarter, being more careful, drinking less to help pay off this debt. We are both on the same page, hallelujah.

Right, enough me - I have bookings to make, I'm aiming for an average of 2 a day...

Have a good one,

sugar-walsh

Morning all - what a beautiful one it is too.

BAD nights sleep - I have a cold, I drank for the second night in a row, which once upon a time was no problem, but now I have been cutting back seems to have played havoc with me.

However, in good news, a couple of payments were made yesterday/this morning and I have a new system in place. Every time someone makes a payment - 10% goes off C/C, 10% into a 'savings' account (Available for emergencies), 10% to me, 10% to Hubby. This means the remaining 60% stays in the business and should cover the bills there.

So - todays figures are:

Santander C/C £7677.37 (£10 less)
Santander Loan £8844.19 (Same)
Santander O/D currently in the black + £266 (£180 better off)
RBS O/D - £1150 (£180 better off)
Mortgage - circa £84,000 (same, have paid a further £250, but not got access to this account currently - will hopefully have a better idea once I get online banking up and running again)
SAVINGS +£356

Feeling positive about things already, lots and lots of wedding payments to come, and in process of setting up another business - free to set up - which I foresee as being a really good extra income.

Today I am selling old cookery books, hoping to get a bit of cash as DS #3 has birthday coming up and money would come in use.

Have a fabulous day.

sugar-walsh

Just a quick update, it's the weekend and we have lots on - 3 wedding fairs, one wedding.

So far I am managing to keep to my 2 bookings a day - 4 taken in the last two days. Fingers crossed we will be inundated after the fairs.

In other news, I have begun the launch of my second business - this one is social media help for sme's, I'm hoping this will bring in some extra cash to put towards the debts.

Santander C/C £7620.37 (£57 less)
Santander Loan £8848.65
Santander O/D currently in the black + £244
RBS O/D - £1162
Mortgage - circa £84,000 (same, have paid a further £250, but not got access to this account currently - will hopefully have a better idea once I get online banking up and running again)
SAVINGS +£356

Sold - 2 books, 8 pairs of shoes so far. CD's next.

Right, a food festival is calling. Should make the weekly shop more interesting.

Have a good one.

sugar-walsh

Hello all, so a terrible Sunday for us. On Saturday night I closed my laptop on a pen and have ruined the screen. That was bad enough, but then oh van broke down. Luckily he was just home, so no waiting to be rescued. However , we now need a new van too. We have been putting it off for ages, but the time has come forma new one. I think we may lease.


Surprisingly chipper about the whole thing, to be honest. There's no use crying over spilt diesel.


No bookings yesterday, 1 so far today. Rent for workshop due Thursday so chasing payments. Will update finances at end of week.


Have been out in the sun to plant a few jolly flowers, does wonders for the soul.


Have a great evening.

sugar-walsh

Afternoon, campers.


I almost didn't post, but forcing myself to be more accountable for actions, and trying to record day tomday feelings so they don't all end up pent up.


Happy today, family birthday, ds realised he didn't want much, as he has everything already. Taking him out for a fun evening, trampoline and then pizza express. Not cheap, but cheaper than presents he doesn't want and a party.


Paid rent for work unit, huge sense of relief. Up to date with this and should get easier now summer months are coming along with bookings.


Ds1 wages paid, loan paid, might even make the week without spending all in the rbs account, if so will transfer extra to cc. Chasing payments, selling items, trying to think and implement better marketing for next year. Finally have time to be pro, not re active.


Also, I've started new business, just finding feet then I can promote. I think it will be a success.


Finance update below.




Santander C/C £7620.37 (£57 less)
Santander Loan £8650.16
Santander O/D currently in the black -£1.44
RBS O/D - £1300.79
Mortgage - circa £84,000 (same, have paid a further £250, but not got access to this account currently - will hopefully have a better idea once I get online banking up and running again)
SAVINGS +£156


More of a reshuffle, but I know a big chunk will disappear soon.


In other news, alcohol consumption also way down from almost a bottle of wine amnight (don't judge) to less than 2 a week. Aim is one a week, this could be the week...


Have a jolly one.

sugar-walsh

Santander C/C £7620.37
Santander Loan £8652.34
Santander O/D currently in the black + £18.56
RBS O/D - £1264.36
Mortgage - circa £84,000
SAVINGS +£306.24


Todays summary. Feeling like the winter struggle is passing, the money should start rolling in.


Also serious chat about travelling in two years time. Think we are finally on the same page. Extra incentive to get financially sorted.


Gorgeous day too. Have a good one.

sugar-walsh

Santander C/C £7610.12
Santander Loan £8654.53
Santander O/D -£26.79
RBS O/D - £1264.36
Mortgage - circa £84,000
SAVINGS +£306.24


Today's quick summary. Feeling pleased this week, I have paid £70 off credit card, £200 off loan, managed to 'save' £200 - this is our 'fall back' money, squirreled into this account so not available every day, but can quickly access if required. I like to keep this around £1000, even though I know its more sensible to use it against the cc, but I don't have a 'save' mentality so working on this!


Also managed to pay rent for work. Just a new van to sort now. Bleurgh. Hooray for sunshine.

sugar-walsh

Week 1.
Santander C/C £7687.37
Santander Loan £8844.19
Santander O/D - £88.77
RBS O/D _ £1362.17
Mortgage - circa £84,000


Week 2
Santander C/C £7580.12
Santander Loan £8661.0
Santander O/D -£6.61
RBS O/D - £1256.46
Mortgage - circa £84,000
SAVINGS +£336.24


Weekend a success. Sun, wedding, wedding fairs. Feeling positive, keeping track of financial payments helps to see things coming down, slowly but surely. Feeling like we are gaining more control.


On line shopping resumed to help keep control of bills. Gas and elect re done, mortgagee needs finalising on new rate.


Serious discussions re downsizing to pay off debt to allow saving for travelling, hope it gets discussed further.


Here's to good week.

sugar-walsh

Today. Still feeling positive and in control. Read something last night which made me think about money and my attitude towards it. I realised I don't want a job to make money, but making money is a job. Epiphany. Mx

Santander C/C £7580.12
Santander Loan £8663.27
Santander +£33.98
RBS O/D - £1255.24
Mortgage - circa £84,000
SAVINGS +£361.24

sugar-walsh

Santander C/C £7575.23
Santander Loan £8667.65
Santander + £50.46
RBS O/D - £1280
Mortgage - circa £84,000
SAVINGS +£171.24

Hello Easter weekend! Thought I would quickly catch up, still trying to form a habit so I can see the changes.

So - had to raid the 'savings' to make sure current account OK, a couple wanted their deposit back after changing their minds, so that put a spanner in the works.

That said, small changes are happening, I can see there is a small general upwards trend, commitment to paying something every single time I get some money seems to help.

Can't wait to get the C/card below £7k, that is a real sticking point for me - 7k is something I am not comfortable with at all, but I have come back from £6k before, so I know I can do that!

Here's to a lovely weekend,

Have fun y'all.

chevalier

Not that I know alot about it, but have you made sure that all the business expenses are being paid for via the business. I get the impression from others that it is important to make sure you business budget and personal are separated out.

Have you done a Statement of Affairs so you know what all of your monthly and yearly outgoings (divided by 12) are? Maybe it will help to identify further spending cuts.

The other thing I found when I was cutting back was the old checking the utilities and insurances idea, that saved me a fair old whack of money, and on my house insurance I even made money as I went via a cash back site and got money back on the transaction.

Good luck going forward
chev