Back to being a DFW..AGAIN!

amber03

This time of the year is hard for most people financially so don't be so hard on yourself with not paying much off the debt over the next month or so. How about setting a target to not increase your debt over Xmas and then get back on the repayment wagon the start of next year.x

WantToBeSE

littleskintdragon wrote: »

Dont be disheartened, just do what you can in Dec. January is the perfect time for a fresh start. :beer:

amber03 wrote: »

This time of the year is hard for most people financially so don't be so hard on yourself with not paying much off the debt over the next month or so. How about setting a target to not increase your debt over Xmas and then get back on the repayment wagon the start of next year.x

Thanks so much for the kind words I had a bit of a 'blah' feeling at the time, but am find about it now.
In all honesty, i dont think i will put any money towards the debt this month.

We have all had a really tough year, and i want to treat the boys (and myself!) to some nice Xmas activities.
I want to take them ice skating again (we did last year), and also to a pantomime if i can afford it.

There is also the Festival of Light and Sound at The Eden Project that we want to go to. I have an Annual Pass, so it wont cost me anything to get in, so I'll just pay for the 2 boys. I'm not sure if my eldest will want to come. Having Autism means that he is very sensitive to sound and visual stuff, so not sure he'll be up for that.


Some good news- my car has been making an awful squeaky noise for the past month. When i start it up in the mornings, it's especially bad. I had been putting off taking it to the mechanic, as i was worried about how much it costs. DESPITE having a £600 car maintenance fund! :rotfl:
So, finally yesterday i decided enough was enough, and took it to the garage. It only cost £20! It was just a belt that needed tightening. I am so relieved!

WantToBeSE

Afternoon All

I'm off Xmas food shopping today. Just spending an extra £20 on top of the weekly food shop should cover it. It's only myself and my 2 boys at home this year, and i already have some chicken and nut roasts. I've already got some quality street and mince pies, so it'll just be nuts and mocktail ingredients. I dont drink alcohol anymore, so that's saving a few quid. I'm quite looking forward to a quiet one in our new house this year.

I'm going to roast some parsnips and carrots in foil disposable trays, and hopefully freeze them and cook them straight from those trays on Xmas Day..not sure if i can do that? I might ask over on the OS board.

I met up with my best friend on Friday, for our annual girlie clothes shopping trip. I had budgeted £100 and didnt buy anything at all, except lunch and some coffee! So came home with £70. It's not that good of me though...i went online and bought some new boots from Clarks last night, with the remaining £35! They were in the sale though, and i have been looking for boots for the past few months! http://www.clarks.co.uk/p/26121591


I put the remaining money towards buying a secondhand bookcase and coffee table. £40 for both items Bargain! They are both solid antique pine, and need to be sanded and painted. I'll do that over the next few weeks.

WantToBeSE

I'm feeling pretty good about things today. It's December and i am not worried about getting into more debt. Last year was the 1st time that had happened in my entire adult life. It really does feel good. It may be a cheap, small Christmas, but i have saved cash for it

Good things this week:

-Finished all of my Xmas shopping. Didn't spend even £1 over my £500 budget! That's the lowest amount I've ever spent on Xmas. That amount included food, as well as presents for my mum, sister and children. VERY pleased with that.

-The kids Dad very kindly gave us a extra £100 this month, so put that in savings.

-Managed to save £250 this month. £100 to my School uniform fund (the £100 extra from their Dad), and £150 to my Xmas/Birthday 2017 fund.

-Bought my lovely secondhand furniture at the bargain price of £40! The coffee table alone would cost £40 at normal secondhand places i think, it's really chunky old wood. Looks great, as does the bookcase, in my lounge!

-I am now moving on to paying off my debt in January!

amber03

Sounds like you are in a good place at the moment hope it continues. We'll done on not going over budget with Xmas , it feels good when this happens. You can now relax and enjoy it. Have nearly finished myself and not doing to bad money wise. Am always glad when Xmas shopping is done as then I can get back on the saving wagon.x

littleskintdragon

Well done, its soo easy to over spend at xmas. Ive never budgeted for xmas and have always resorted to the cc. I can go all year without using it, but then xmas comes along and its dug out again!!

Im intrigued by the school uniform fund, how many children are you buying for? I have a school uniform tin, as dd will be starting big school next year, and ds will be starting primary. I only chuck a £ in here and there and know i need to put in more. This is the first time ive planned for anything like this!!

WantToBeSE

amber03 wrote: »

Sounds like you are in a good place at the moment hope it continues. We'll done on not going over budget with Xmas , it feels good when this happens. You can now relax and enjoy it. Have nearly finished myself and not doing to bad money wise. Am always glad when Xmas shopping is done as then I can get back on the saving wagon.x

Thanks Amber I am the same, i love Xmas shopping but am glad when i can start saving/paying off debt again!

littleskintdragon wrote: »

Well done, its soo easy to over spend at xmas. Ive never budgeted for xmas and have always resorted to the cc. I can go all year without using it, but then xmas comes along and its dug out again!!

Im intrigued by the school uniform fund, how many children are you buying for? I have a school uniform tin, as dd will be starting big school next year, and ds will be starting primary. I only chuck a £ in here and there and know i need to put in more. This is the first time ive planned for anything like this!!

I always used to use the CC in November & December to buy for Xmas, and it's really lovely not to do it and be worried about the CC bill in January

I am buying uniform for 1 child. I have 2 children, 16 and 12, but only buy uniform for the 12 yr old as my son goes to a special school for teens with various disabilities and doesn't require a uniform.
But Uniform is 1 expense that i know i have every year, and it's generally about £300 a year. In Primary school i never did this, as the costs were so low for the uniform, but at Secondary school its much more expensive.

They have to have 2 of everything- a school named jumper (£12), short sleeved t shirt (£8), long sleeve t shirt (£10) Rugby top (£12), PE shorts (£8), Rugby socks (£5), rugby boots (£10),as well as trousers, school bag, coat.
And i also save for all year for any other school related expenses like trips etc, which can be anywhere up to £500.

Anything that i can plan for, and know is going to happen (school expenses, pet expenses, car repairs, Xmas and Birthdays) i have mini saving accounts for.

WantToBeSE

I've just been going through my Sinking Fund accounts (started last month) and thought it might be useful to write them down here. These accounts are what stop me from getting into debt while i am paying off debt.

For those of you who don't know, i loosely follow the Dave Ramsey Method.

Emergency Fund- Balance £1000-I dont put any more money in this account until my debt is cleared.

Car Maintenance-Balance £600-Again, i am not putting any more money in here, unless i need to use it for repairs etc. Once i have paid off all my debt, this will become a fund to buy a new car.

Cat Costs-Balance £100- I put £20 a month into this. It'll cover vet expenses. She is now almost 12 years old, and (touch wood) hasn't had any major expensive illness, but she is getting older. Total Aim is £500.

Birthday/Xmas- Balance £150- I'll withdraw £100 of this next week (a cash present for my older son) and then put £50 a month into this account. Total aim is £500.

Home Maintenance- Balance £100- I'll be adding £50 to this every month..but having just recently (5 months ago) moved house, there are things i want/need for the house. I'll probably use most of this every month for at least a few months.

School Uniform/Trips-Balance £100- As described in the last post i made, this is where i put money for new uniform, school trips, extra expenses like school bags etc. £20 a month will go in here.

Holiday-Balance £0- I can dream!

littleskintdragon

Thanks for the above post, thats exactly what i need to start. Especially the car maintenance, i cant lock my car, its only 4 years old!

WantToBeSE

littleskintdragon wrote: »

Thanks for the above post, thats exactly what i need to start. Especially the car maintenance, i cant lock my car, its only 4 years old!

Thanks Dragon I thought someone might find it useful.
It seemed a little strange to start with, saving money while i'm still in debt. We are generally taught that we should put any savings towards debt repayments.

However, what would I do if i didn't have a car fund, and my car broke down and needed repairs done? Or my cat has an accident/illness and needs treatment? If i am putting every penny to my debt, i wouldn't have any spare funds to use for that, and i'd likely have to go and use my credit cards.

it's like my safety net