£67,031.92 is a frightening number indeed....

Honeysucklelou2

The insurances and school holiday pots are useful, something I need to address in my budget too.

enthusiasticsaver

Looks fairly thorough. The challenge will be the car won't it as that has a mot soon?

CathT

Hi TOPM, I've been reading your diary over the last few weeks (you had a mention over on MFW) so looked you up. I originally planned to read the first few and last few pages, then skim read some of the other stuff but I have actually read the whole thing!!

You have made such significant progress since starting this diary. We completed our extension last year and found the stage you are at to be quite stressful. It was much more straightforward once the build started. In terms of contingency, when we were requesting the additional borrowing from our mortgage lender they pretty much grilled us about where this contingency fund was coming from. Definitely get a few quotes and don't write the best builders off as being most expensive. In our experience, the most highly recommended builder gave us the best quote and did an amazing job.

Enjoy your camping trip this week.

Will continue to follow your debt free/extension journey.

Treadingonplaymobil

Week 80: Day 1

Hello! Thought I'd have a quick check in while I'm sat in the Sainsbury's cafe - we are midway between camping holiday 1 and camping holiday 2, and DH and the DC2 are doing the food shopping.

Spending on camping holiday 1 wasn't too appalling, with the notable exception of a pricey pub lunch. Really I knew the lunch was coming - we always do one lunch out when we camp with these particular friends, and I knew we would do so again. It's left budgets tight but not unmanageable for the rest of the month, which isn't ideal when we're heading into another week of camping. Ho hum.

The Santander card didn't come with enough of a credit limit to transfer the entire Barclaycard balance, but we have requested to move a little over £6k of it onto the Santander card. Hopefully we'll then be able to move the remaining balance onto the Virgin card, which I know has some space on it. Not sure whether we should close the barclaycard when it's at zero - we have an MBNA card with a £16k limit and a £0 balance if we suddenly had a huge emergency expense, but equally I'm wondering whether we should be keeping as many cards open as possible for next year's extension hell!

Right, best get on and get myself into gear for the next epic adventure!

To do this week
1. Confirm balance transfer to Santander.
2. Attempt balance transfer to Virgin of remainder of Barclaycard balance (this might have to be next week if we need details we don't have with us).
3. Phone a couple more builders to arrange meetings/quotes.
4. Finish next week's contract work.
5. Check on the planning portal to ensure revised drawings are up. Just done this and they're not, so must email architect to get an update.

August money goals:
- £15.04/31 August rounding down pot. Um. I might not add to this much more this month after the accidental £422 overpayment .
- £3,657.20/£5,000 2018 debt repayment goal.
- £382/£932 extension pre-build costs predicted shortfall.
- £214/864 income needed for September :eek: :eek: :eek: .

Suffolk_lass

Well done!

That Barclaycard? Personally I would keep it, lock it away (even cut it in half but don't close it; you can always ask for a replacement card on the existing account), and check what impact it would have on your credit rating if you were to

a) leave it open but unused
b) use it occasionally, but clear the balance in full, the following month.

Then you have the option to use it (for Christmas, emergencies, or planned for the extension), and its presence enhances your credit rating (that is my b reference - do you have to use it for it to enhance your credit rating?) - it might also help with your remortgage application.

Don't you still have your JLP card too?

Enjoy your hols, we just got back

PositiveBalance

Happy holidays, ToPM!


It might be worth asking around the credit card section of the forum but if you already have a spare card with a £16k credit limit and no balance I would get rid of the Barclaycard if you can transfer the remaining balance off it as you will have enough CC potential balance to cover an emergency but are highly likely to look more appealing to future prospective lenders as your overall available credit to run up more debt will have not gone up.

But check to be on the safe side.

Happy camping!

nomi01

Hi TOPM
I found your diary about 2 weeks ago and have nearly caught up.
I have loved reading it.
I am also struggling with debt, poor choices, misplaced priorities and bad luck have all been a factor for us.
Not brave enough to complete my SOA yet, but keep thinking I ought to.
Well done on your debt payments and changes in your thinking.
I do find it hard as I grew up being led to believe my parents managed money well. I now know that there was a huge reliance on credit.
There has always been the implication that as I had 'things' growing up, I need to replicate that for my own children, my parents had an attitude that if you throw money at a problem, it is going to be fine.
I am actively fighting this mindset now. My mother in particular uses money to control others. As a result, I now don't have contact with her this is a recent thing but has definitely made me re-evaluate my actions. I have also list my financial safety net.
Anyway, I wanted to say that I think you are doing a great job. Keep it up. It's so easy to fall back into bad habits when time and energy are in short supply.

Suffolk_lass

nomi01 wrote: »

Hi TOPM
I found your diary about 2 weeks ago and have nearly caught up.
I have loved reading it.
I am also struggling with debt, poor choices, misplaced priorities and bad luck have all been a factor for us.
Not brave enough to complete my SOA yet, but keep thinking I ought to.
Well done on your debt payments and changes in your thinking.
I do find it hard as I grew up being led to believe my parents managed money well. I now know that there was a huge reliance on credit.
There has always been the implication that as I had 'things' growing up, I need to replicate that for my own children, my parents had an attitude that if you throw money at a problem, it is going to be fine.
I am actively fighting this mindset now. My mother in particular uses money to control others. As a result, I now don't have contact with her this is a recent thing but has definitely made me re-evaluate my actions. I have also list my financial safety net.
Anyway, I wanted to say that I think you are doing a great job. Keep it up. It's so easy to fall back into bad habits when time and energy are in short supply.

Oh nomi01! Well done for sharing some of your own issues. You really must do your SOA, even if you don't share it. At least then you can be honest about what you are dealing with. And as you start tackling your own issues, there is plenty of support on here - look at MFW Board as well as the DFW space. Loads of cross-over.

If you do start sharing, there is just so much good advice on here.

Your issues with your Mum are, I am sure, more complex than your post shows. It is your issue, but our Mums don't live for ever and there may be other ways of managing the relationship than not having any contact. Several of the diaries I follow have had parental (and other relationship issues) and people have vented and journeyed through them. No "go and do this" advice helps because it is only the people in the relationship that really know (and sometimes then, not both) what is going on, but sometimes suggestions for you to reflect on different things can help.

Treadingonplaymobil

Week 80: Day 5

Quick check in from the campsite cafe while I'm online balancing bank accounts (OMG the spending. Urgh). This summer has definitely been worse than last year for constant little spends - cafe trips, fish and chip dinners etc - we've holidayed a lot more with other people (albeit mainly family) and DH and I both hate being the 'sorry, can't afford that' ones and ruining everyone else's plans (as they would avoid them too), so usually end up agreeing to go to cafes etc. The weather also isn't great, and eventually you run out of activities to do in a tent! Most free activities are outdoors, when it comes down to it.

It's not a total disaster though - we've ground down a few pots, but there's no danger of cracking out the CCs or anything.

Also on the bright side, we are so pleased with the trailer we bought earlier this year, it's been a great buy and has really improved our holidays -both the packing and the camping, as we can set up a little kitchen area in the trailer which can easily be covered over, rather than getting the stove in and out every time it rains. It's nice to have made a well considered purchase, saved money on it, and to really feel it was worth it.

Nomi01 welcome! I hope you work up the confidence to do your own SOA - you only have to read back to my early posts to see how out of touch with our spending we were, and even though we're a loooonnng way from perfect now, there's no way we could have improved as much as we have without the constant encouragement/constructive criticism of people on here. It's really made me question every aspect of our spending, and although our choices are the same as many would make, we are at least making them consciously.

We're into our last couple of days of holiday, then back to reality either on Sunday or Monday (depending which is the better day to pack up!) with tons and tons of laundry and general mess to sort out. Only a couple of days at home though, then back to my mum's so she can look after the DCs again while I work, then a wedding to go next weekend. Could do without that busy-ness the week before the DCs go back to school, but can't exactly control other people's wedding plans .

Although I'm still miles short of September's income, I've just calculated that with the extra work I had earlier this month and will have on Friday, I'll make a good £700 profit this month, hopefully a little more (can't quite work it out without the expense figures in front of me).

To do this week
1. Confirm balance transfer to Santander. This hasn't gone through - DH has just phoned and it's pending though. Next week when we're home he'll move some of the remainder onto the Virgin card too, so hopefully only a few hundred will be charged interest.
2. Attempt balance transfer to Virgin of remainder of Barclaycard balance (this might have to be next week if we need details we don't have with us). One for next week.
3. Phone a couple more builders to arrange meetings/quotes. Also abandoned until next week.
4. Finish next week's contract work.
5. Check on the planning portal to ensure revised drawings are up. Don't ask. Architect hell. Suffice to say it should be done today.

August money goals:
- £15.04/31 August rounding down pot. Um. I might not add to this much more this month after the accidental £422 overpayment .
- £3,684.18/£5,000 2018 debt repayment goal.
- £382/£932 extension pre-build costs predicted shortfall.
- £214/864 income needed for September :eek: :eek: :eek: .

nomi01

Thanks for the warm welcome and supportive words. I will face up to completing SOA, will do it when I have a quiet afternoon to myself I think.
Apologies for the massive overstare earlier re; my relationship with my mum, I think it has made me realise I have to face up to my debts and my overspending, but don't wish to dwell on the actual reasons for that situation, only on how I plan to get myself out of this situation.

Anyway, I noticed earlier that there was lots of discussion re; eco products and high cost.
I have just got ecoegg bundle from qvc website, approx 970 washes, 2 eggs, and lots of other bits with it. I found a voucher code online and saved an additional £5. I think it cost me approx £24 with p+p.
Much cheaper than anywhere else.

I tried the WGAC bulk buy but the wasn't thrilled with the quality, it reminded me of the loo paper they had at school. I currently choose by price point.

I am enjoying reading the eco cleaning advice and intend to give more a try.

TOPM, you have inspired me to crack on with home baking again, so thank you.
I will keep reading to catch up.