Time to get a grip and pay off the debt! -

Choccygirl123

It's the middle of October and yet again there's officially too much month and not enough money.We've been in debt before and cleared it, but a house move has pushed up spending and it's got out of control over the last year.

Hubby and I have been really struggling to get a grip on additional monthly spending and I suggested we sit and do a budget next month and withdraw cash for petrol and food shopping. I know where the 'spare' money goes....it's blown on eating out, takeaways, treats for the kids and other junk we don't need! Starting this diary to keep a track on how we're doing and help us keep focused. We've had a few huge life changes recently so it's time we got into a routine and sorted ourselves out.

I know we're overspending every month and the cards are creeping up. Off the top of my head we've got around 7k on credit cards, £400 on our overdrafts and the mortgage which is around 53k. I'd love to get our budget sorted and back on track so we can get rid of the cards in 2017. Hubby earns good money and i work part time and can't find anything better paid around childcare. We have looked at ways of making more money, but changing jobs isn't an option. So all we're left with is cutting spending and sell stuff we don't want/need.

I feel better now for starting this thread....it's in black and white and there's now no hiding! Will sit down tomorrow and ring the banks and credit card companies for the outstanding balances.

Katzen

Hello, well done on recognising that things need to change, I'll subscribe and stick around if I can be of any hrlp

Cailbhinn

Welcome to the DF diaries. I've only started my journey too. It's quite cathartic writing it all down. I sooooo understand where you're coming from re: overspending. I sat and went through my online statement and was disgusted with the amount I spent frivously. Those wee £3, 4, 5 all add up. I'm using YNAB which suits my needs but I'd recommend a budget method of somekind - whether spreadsheet, envelope method etc. I'm almost in competition with myself to see how many no spend days (NSDs) i can get as well as beating the budget and using the excess towards the debt

All the best.

Choccygirl123

Thanks Katzen and Cailbhinn. I'm just annoyed and cross with ourselves as we've been here and got the t-shirt...n fact have a few of 'em.We just don't seem to learn and it's the whole want it now mentality. Still need to get the time to sit down and tallying up the debt.

We have made a start though by sticking a few things on ebay and the local selling site. I made £15 yesterday which is sat in wallet for food later in the week. Our first plan is to just stop spending on our cards if we can and limp through to pay day. The freezer is rammed so going to make meals around the delights hiding in there. We're sorting out the kid's rooms today so should manage a non spend day but keeping them busy.

Mission today :
Tidy and declutter kid's room
List any toys, books etc they no longer want on Facebook page
No food shopping....eat what we have stored
Most importantly...DON'T SPEND ANY MONEY!

Choccygirl123

The good news is that i've not spend a penny since Thursday. Hubby slipped and used the change in his pocket to buy milk and bread today and a choccy treat for tonight. He seems on board so fingers crossed!

Ouch update.....this is the nasty bit!

Our currently ousting debts are :
Hubby Credit Card £2326.59 (0% - paying odds and ends & min)
My Credit Card £4176.40 (0% - paying odds and ends & min)
My Credit Card £546.33 (APR ??? - this months spending on xmas presses for kids)
My Overdraft £175.69
Current account balance is £63.16 However I've written cheques for a school trips and lunch money for £155 and we have a direct debit for £42.60 going out on Monday. Unsure if school cheques will cash before pay day because of half term, but still including them to be safe!) Overdraft on joint is £134.44

TOTAL exc mortgage = £7358.86

Well there it is in all it's glory! I've been listing like mad on ebay and uploading to Facebook. The children have sold a few bits of their toys and we've put their cash in a jam jar of them to split. I feel bad taking it, so said they could add it to their savings. Fingers crossed I can make a few pounds to help reduce the overdraft balance before the end of the month!

My mini targets
No Spending until Tuesday!
Keep decluttering
Sell, sell sell!
Use freezer & store cupboard only....roast beef tomorrow, beef sandwiches and cold beef & jacket spud monday night tea.
Bake something for the kids....no biscuits in the house so think rock cakes and cupcakes would be a treat. All made from store cupboard and fridge contents.

Choccygirl123

Whooo hoooo a lovely fat sunday lie-in until 9:20am and the sun is shining. Had a good chat with hubby over brekkie and all is good. He's completely 100% behind the clearing the debts and is suggesting stuff I hadn't thought of. I'm going to sit down tonight and update our excel sheet and see what budget we have and decide on next month's food and spending etc. Hubby said we need a few lean months, which is the plan to kill the cards!

On the downside we've run out of washing up liquid and earl grey tea....the house can't survive without the liquid and I can't function without the tea. It's supposed to be a non spend day, but needs must. I've raided the copper and small silver tin and have around £8. Rather going to co-op and paying a fortune, going to nip into Tesco with the shrapnel and buying the cheapest i can find!

Ebay going well and have sold two things on buy it now.....£60 collect item and a £17 postage item. have moved the cash across (£68.57) into our joint account. I've paid all my ebay fees on pay-pal and just have the postage for the one item to pay. I'm going to have to send it using the joint account as no other money available and I don't see it as cheating as the money paid is to cover it. Will update the joint overdraft once i know how much the postage is!

Choccygirl123

So yesterday was a success shopping with the change, still feels like a non spend day as didn't use our accounts. 6pints milk, loaf of bread, 2 packs spaghetti, 2 bottles squash for kids and tesco cheap washing up liquid = £4-71
Please note no tea bags for me because they only had the expensive ones at £4.99 a box!

Yesterday we had a huge roast beef dinner, roast parsnips, broccoli (beef, broccoli and parsnips all out freezer and finished off the bags) carrots and roast spuds from veg rack. I even made some huge yorkies for main was a real feast.

Pudding was a quick crumble and custard whipped up from the blackberries and apples we'd picked out on the walk with the dog. All made with store cupboard stuff that we had in.

Today is another 'true' no spend. Brekkie was toast, lunch was beef sandwiches and tonight i've made a huge pan of slag bol sauce using tins and reduced mushrooms and peppers that had seen better days, the last two carrots and onions from the veg rack and a tube of tomato puree.I blitzed the left over beerf brisket joint and thrown it in. It's made a monster of a pan full and will be enough to add some to the freezer. I'm really enjoying using up store cupboard and freezer food and it's great having more space!

Think i've sold a couple more bits on and Facebook and ebay (auction not finished yet) I did make £2.50 this morning on something on the local selling site, so that's going to my wallet for shopping bits as we need them. It's going to be tight but i think we'll be able limp through to pay day without using the card. (apart from the postage for ebay stuff) I just hope people come and collect the things as planned because that's what is going to get us through!

Cailbhinn

Choccygirl123 wrote: »

huge pan of slag bol

:rotfl: I assume a typo?

Worriedaboutmoney_2

Good luck have just started my journey too. Also had a little chuckle at the slag Bol !!!!

Katzen

Dinner sounds lush! And the OS board would be cheering at that little store cupboard feast. Well done you

Choccygirl123

OMG I'm mortified...the bol was of the spag variety I promise

It's all about the store cupboard and freezer and I think perhaps I need to spend a bit more time looking at the OS board for some ideas. Tonights freezer surprise is....drum roll please
pie and mash! We have a delightful selection of steak and onion (9p reduced from morrisons) a pheasant and dried tom and a game (two individuals both made by my amazing aunty who loves game and were part of a food parcel some months ago after visiting)

We're still trudging through 25kgs of Marfona potatoes that cost £8 off the market 2 weeks ago. I've found two smallish tins of marrowfat peas so hubby is one happy boy! He's got a couple of ales (leftover from his birthday) so he thinks tonights meal is sent from the gods. I'm not so sure and just hope the two choccychildren are as excited about the game as he is!

Managed to sell a job lot go the kid's toys yesterday and the lady will collect them once all back to school. £65! but not for me, we said they could keep the first £100 they make so they're delighted. I'm gutted as that would have nearly put my account back to 0 allowing for cheques written. I don't mind though as my youngest is going to see her friend at the weekend for friend's birthday and she's having to buy her a gift out of her pocket money. If they have their own money, it means i'm not shelling out all the time.:j

Talking of friends we're meeting up with some this afternoon for a catch up at the park. Will take juice and nibbles so don't have to spend anything. I do need to post the ebay stuff (grrr using card, but money hit the account) and we're off to the tip! I love a good nosey down there, but this is to get rid of the boxes and tat from the kid's rooms that has no value.

These posts seems to go on forever and I know I waffle... but i'm loving the motivation writing it brings! It's only 6 sleeps until pay day so need to get my finger out selling more things!