A Ditherer's Diary (again)

Naomim

Just thought I'd post this picture of the cake. It's delicious. Sponge recipe from the bbc good food website. 

Four_Seasons

that looks yummy!! x

Naomim

I must admit I usually cheat for dd and buy cake kits but they really enjoyed making this from scratch together. 

FootyFanDan

Ooooo the cake looks yummy!!

Naomim

Morning all,

The bills have been dripping out the account, my credit card payment are split over the month so always something coming out. at least the money is there to cover them I guess! They're not a surprise.

Virgin Money are putting my credit limit up from £6,700 to £11,700.  I'm not going to refuse as when my first 0% deal ends I'm hoping some others might open up.  Once I'm further down the line and don't need so much I'll start closing the cards as I go.  None of my cards are in my purse and have only been used for balance transfers over the past 15 months.  

I often read other people's diaries and notice quite a few of us also have debts owed to the bank of Mum & Dad.  I do too although it's not in my signature.  We currently owe them £1100 and I pay off £50 a month.  But it's made me wonder how many of us have been fortunate to have this option and parents that can afford to lend money without themselves having to borrow.  Whilst I'm not keen on the idea of having to lend my kids money when they become adults, I'd like to be in a position that if they needed it I would be able to help.  Of course I also plan to teach them budgeting so they can be responsible adults but you can't necessarily put an old head on young shoulders.  15yo turns 16 in the summer and we have told him he needs to get himself a Saturday job and that we will take a percentage of it and teach him how to budget for things that he might want to save up for.

The kids are also back to school now. Monday 11yo was up with the larks and ready to go. Today was a struggle to get her out of bed and dressed in time.  It took two days and she's knackered so an early night tonight I think.  

Tesco delivery booked for tomorrow but we usually have shopping delivered on a Wednesday so I might have to make a trip to Aldi or Iceland later for some bits and pieces. I've fallen off the menu planning wagon for last two weeks and it's been really noticeable so I need to meal plan properly and get shopping.

I hope everyone is keeping safe and well.

Naomim

Naomim

Morning all,

Shopping all done and delivered. Came in at £91 so still on budget for this month so far.  Also had the council tax notice for the year. It's gone up £5 a month but on the bright side, had a statement from Hitachi Capital for our sofa loan and only got 6 more payments left to make on that which will free up £45 a month.  I never listed it in my debts as I saw it as a monthly bill and was on 0% interest.

I have renewed mine and DD's Merlin passes this week. This payment is coming out of my bonus as we make so much use of them during the year it is well worth the savings for us. We are so lucky to live near Chessington WOA and close enough to Legoland and Thorpe Park we can drive there within 45 mins.   I'm hoping we can do a weekend at Alton Towers again this year with my SiL and niece again like we did last year.  We stayed in a travelodge and had a great time.

Jut had a bit of a shock as I logged onto my Virgin credit card app and it said I owe £10241.95 instead of the balance of £5241.95 but it's odd as they upped the credit limit today so can only assume the app has had a wobble. I called the helpline and the balance on there is what it should be so doesn't seem like any dodgy transactions have gone on.  I'll keep my eye on this over the next few days and see if it corrects itself.  Also had an email from the bank about the overdraft. I have a money transfer offer for 20 months at 0% with a 4% fee with an empty MBNA card so I think I'll transfer that over.  Now I'm using ynab I'm much more confident of not using the overdraft.

Naomim

Naomim

The money transfer has gone through the the bank account so I have been online and reduced the overdraft right down this morning.  I've also made a "fresh start" on Ynab to keep on track.  So although I have upped my credit card balance, the money I was paying interest to the bank for the OD will now be the payment for the money transfer which works well for me as the debt will reduce and I'm not paying interest.

I checked my virgin card and the balance is showing what it's meant to which is a relief. 

I'm about to pop up to Sainsburys to get 15yo a new pair of school trousers and the MiL a small Mothers Day gift and my eldest niece a birthday card as it's also her birthday on Sunday.

Hope everyone has a nice weekend.

Naomim

w66m

Hi! I'm picking up this post for the first time and apologies I haven't read every post but great to scan your progress over time - congratulations!
How do you find YNAB? I've found it a great budgeting tool but not sure how focused it is on helping you get out of debt? Have you used it to create a timeline of when you hope to be debt free?

Naomim

Hi 👋

Thank you for your kind comment. 

I'm still fairly new to ynab so not sure you can do a time line.  I used a snowball calculator on whatsthecost although I'm actually avalanching I think!  But this is what gave me my estimated debt free date.  I'm loving ynab though for giving me a complete picture of what's due to come out and seeing exactly what's left.  I was just using a spreadsheet before but it wasn't really working for me as I was always updating retrospectively rather than looking forwards.  

I can see you're a new poster on the boards so if you need help, please have a good look around and join in. This site has been a lifeline to me.

Naomim 

bamgbost

Hey Naomi. just checking you out for first time.

Not been able to read it all, just last few pages. sounds like you on a great path and moving in the right direction.

you mentionYNAB. its an app right? I think i downloaded it a while back, but it was a trial only. So i got rid of it, as I didnt want to have to pay, when in mountains of debt already.

I now use an excel spreadsheet, but an App would be easier and help me with consistancy i guess.

btw Whats your target DFD?