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The Ultimate Incentive muddles along
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So a few weeks ago I downloaded an app, that rounds up all your transactions to the nearest £1, and puts the change into a pension pot (which the government add 25% to). Since I haven't paid into a pension in 7 years this seemed like a pain free way to start to set aside a little. What is flipping terrifying is that it's adding about £30 a week, which means we're doing at least 30 transactions for it to be able to round up! I'd say maybe 5-10 of these each week are bills/food/fuel etc, but that still leaves a heafty number going through each week.Debt January 1st 2018 £96,999.81Met NIM 23/06/2008
Debt September 20th 2022 £2991.68- 96.92% paid off0 -
Not masses to say here, I've been plodding on. Applied for the covid shutdown grants for the areas I'd not previously applied for, looks like they'll all be refused as we don't have rent but at least I tried.
Private pool booked from May to end of September, as May and June were very low on slots, and wanted to get some that suited us a bit better July and September. It's a big treat for us, but actually not much more than all 4 going to the council pool, but in these times if feels a lot safer. Not booking anything for August as don't know what we're doing and we can be a lot more flexible on times. Gives me something to look forward to which I really need today.
It's a good day though, no homeschool for a week! This half term has been so, so much harder than when we had more flexibility over what we taught in the Spring/Summer 2020 homeschool period. Having spoken to other parents at the school though it seems we're very much in the minority in trying to do it all, and I think I'll be a bit more flexible after half term. There is always the chance homeschool will only be for two more weeks, although I personally think it'll be after Easter when most children go back given how full the hospitals still are.
Realised today I've overpaid £987.55 above the minimum payment this month on the credit card we're currently focussed on. So I've made another payment of £40.72 to take us over the £1000 paid off in one month mental barrier, but also to leave the card at a nice round number. I'm hoping to pay off another £800 on payday, and then if we can do another £1000 through the month we should be able to clear it by the 21st March payday. At the current rate we'll also be able to clear the two remaining credit cards by the end of July, leaving us just with tax credits over payment from 3 years ago (amount is being disputed. They have sent us 11 different letters with amounts between £340 and £5900... guess which figure they're trying to enforce!) and then 3 credit cards which were shut down, all with the same provider, they just basically stopped taking the direct debits on all of them, didn't tell us we had to set them up again, never sent a letter, email or text to say payments weren't being made). That provider has never chased those debts, which is weirder still, and interest isn't being added. So the plan there will be to save that amount of money rather than paying it off piece by piece as that could apparently trigger them asking for payment in full since it's been about 2 years since we made a payment, and ask for a full and final settlement when we have it ready to pay. It has completely trashed our credit records but more than that it's just really weird that they stopped taking payments and haven't asked us to since the cards were shut down either.Debt January 1st 2018 £96,999.81Met NIM 23/06/2008
Debt September 20th 2022 £2991.68- 96.92% paid off0 -
Great stuff. You're doing really well! I'm another one delighted that the kids are off for a week. I relaxed a bit more this week as the kids were wrecked and I am too!Total (Aug 19):€58,567 Now:€26,947
DFD:Nov 22/June 22
Mortgage: €199,712
MFD: March 2042/July 20340 -
4 days to payday. Realised somehow, magically we still have nearly £600 in the bank. So I've made another overpayment on the credit card of £339.24 (again, brings it to a round number) which leaves £2500 exactly to pay off to hit my goal of clearing it by the end of March. Anything at all left on Thursday night will also be paid off, and I'll do another lump payment on payday.
I'm really impressed we have this much left, we've definitely cut down on spending this month, and that's even with national trust membership, and annual buildings and contents cover coming out, as well as booking the private pool for 11 sessions between now and September and even booking a caravan for the weekend schools break up in July. Oh, and starting my pension, and a small savings pot for each of the kids.
The pension, junior isas and then the rounding up of all our spending to go into our investment fund has DEFINITELY helped me focus on money again. I think I've just been paying off debt for so long I've developed complete malaise, but seeing savings, even tiny ones start to grow has been a real motivator to get it all paid off so we can start to get some real savings and security behind us.Debt January 1st 2018 £96,999.81Met NIM 23/06/2008
Debt September 20th 2022 £2991.68- 96.92% paid off0 -
Seeing savings growing the biggest motivator for me, I actually have a spreadsheet where I follow it month by month and I love how the numbers are growing. I increased our monthly contribution to the kids's saving accounts as I know that mini Kavics will need a laptop sooner or later for school work and I want to be able to buy it from that money rather than budgeting for it when it will become apparent.
Toddler Kavics was really sick the past week or so so we have been self isolating. OH got temperature by the end of the week too so he has to isolate till Monday. Getting really fed up with full house but I guess we have been lucky that we didn't catch anything up until now. I got the second covid Jab last week so no symptoms for me at all.0 -
Sounds like you are really focused on the money and doing great Dinah. The private pool will be great over the summer.
Hope you are all OK Kavics and feel better soon.
I went to the dentist last week and sorted appointments for my crown, paying for the more expensive one. Also going for a scan for invisalign. Been thinking about it for a while but dentist has recommended it as my bottom teeth being uneven is wearing my top teeth down. Seems like as good a time as any as saving money not commuting into London.0 -
How is toddler Kavics doing?
Sounds like good news on the tooth Wendz too.
I haven't even had this on my to do list for so long as I just never did it so eventually I just accepted I clearly didn't have it as a priority, however I finally have my final totals on the last few cards. While these are big numbers, it's still hugely, hugely reduced from where we were. Yes, that's scary, but mentally this feels like the home stretch now. However I can also see how much I've been paying off each month (I say 'I', NIM has a solid job he plods on with that earns decent money and has kept us afloat through lockdown, but he wouldn't know how to make a credit card payment, or even log onto online banking if I'm honest. He certainly wouldn't have a clue to look at a credit report).
So right now remaining we have
Dinah Barclaycard: £2500 (this is the one we're currently paying off, hence the round number. It is exact not a guess, I just like rounding it)
NIM Tesco: £2928 (This one will be next as it's the only one still interest bearing, but at less than Barclaycard)
Dinah MBNA1: £6037
Dinah MBNA2: £14105
NIM MBNA: £5573
Council tax £1050
Tax Credit Overpayment (in dispute) £5900
Virgin Credit Card £2,728.39
Mum and Dad £4,000.00
Total still to pay off: £44, 821.39
Current totals in savings (we all have to start somewhere but at least it's a start!)
My ISA £600.98
My private pension £65.23
Stocks and shares: £101.51
Big Mini Moneysaver JISA: £108.11
Little Mini Moneysaver JISA: £88.47
Payday tomorrow, so all money remaining in the account is being paid off the credit card tonight, so that's another £207.54. I'm pretty annoyed checking through various bits today, as I only really took the ISA as Quidco were doing a smashing £225 cashback when you took it out, but the ISA provider has refused the cashback. I've raised it with Quidco, but not expecting anything to come of it.
Today's good news though is we got a lockdown grant in one of the companies, we cover a massive geographical area now, and we've been really hit or miss with different councils on getting a grant, we got absolutely nothing from anywhere in lockdown one, nothing to become covid secure or for reduction in income during tier 3 or 4 when we couldn't operate, lockdown 2 we got a small grant from 3 of our 11 councils. Today was a new council who have decided we now qualify for help, so that's us at 5 of 11 councils now, but it's so random, some of them have awarded us amounts of around £110 a week, and some are up to £310 a week. It's a hard set of sums to work out, as we're loosing about £8-15k a month being shut (that's company money though, not mine!) but being closed we don't have as many costs, so while all my contractors and I have taken a huge hit through shut down, the companies themselves are hanging in there now we've qualified for a few grants.
I've apparently hit the cashback maximum on optical for my policy this year on the private healthcare plan (they've really lucked out on dental, chiropodist and sports massage claims this year though!) so I've got £40.92 coming of a £99.98 claim for lenses, but I'm still pleased for my lenses to only cost me so little each year.
No real work news this week, half terms are usually really, really busy for me as they're our rebooking periods as all our courses run term time only, so I've been enjoying spending more time with the kids than I usually can.Debt January 1st 2018 £96,999.81Met NIM 23/06/2008
Debt September 20th 2022 £2991.68- 96.92% paid off0 -
Signature finally updated. It's not as jolly as the last one, as I now realise we're less than half way and have basically NIMs annual salary to go, but somehow it still feels doable (maybe this is because I once paid off my annual salary's worth in 9 months so feels similar?!).Debt January 1st 2018 £96,999.81Met NIM 23/06/2008
Debt September 20th 2022 £2991.68- 96.92% paid off0 -
February goal, get under £43,000, so £1821.39 to clear. Slight issue is that I need to swap from paying off my Barclaycard to NIMs Tesco card as it's just come off 0% and is a higher interest rate than the Barclaycard. The reason this is an issue is getting the login details is like blood from a stone, not that he has something to hide, just that he's completely disinterested so has no clue what they are and calling up to get it reset isn't ever on his priority list. So nagging hourly it is until I get them.
Family time today, I have to admit it'll be mixed feelings if the schools go back in 2 weeks, on the one hand I love having them around all the time, on the other I HATE being their teacher, and I really miss having time to work. Right now I have a small window while they run a birthday present to the next village so I've been editing a few items to go onto the youtube and patreon subscriptions this week, but mostly just enjoying having 30 minutes of no noise!Debt January 1st 2018 £96,999.81Met NIM 23/06/2008
Debt September 20th 2022 £2991.68- 96.92% paid off0 -
Did our meal planning for the week this morning, £77.57. It was under £50 but then I let the kids pick Friday night dinner and things all went haywire! I'm trying to use up some of the things in our cupboards that have been there ages, it doesn't save much money but I'd like to be able to see what's in the cupboards. This weeks 5 random ingredients were lasagne sheets, bulgar wheat, split red lentils, black beans and butter beans. We also have lots of fruit and snacky veg on there for them to pick at when wanted, as well as a few household bits like tissues and shampoo.
If like me you are a complete foodie and love menus or living through other people's plates, our meal plan for the week isDinnersToad In The Hole (onion gravy, green beans, parsnips)Salmon and roast new potatoes (broccoli, carrots, garlic mushrooms)Homemade deep dish pizza and salted caramel waffle puddingChicken, mushroom, spinach and squash lasagne, garlic bread, saladChorizo & root veg bulgur wheatMeatball black bean chilliLunch (all soups make 2 days portions)Cauliflower and apple soupLeek, butter bean & crispy chorizo soupLentil soupNo kneed breadSunday BrunchCaramel apple cinnamon bunsBrioche smoresOtherOat BiscuitsSuperfood muffinsBaked Oats
Still no login details from NIM, but I'm happy enough as he's off doing some free dog training with a friend of a friend, so the house is nice and quiet for a few hours.Debt January 1st 2018 £96,999.81Met NIM 23/06/2008
Debt September 20th 2022 £2991.68- 96.92% paid off0
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