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£67,031.92 is a frightening number indeed....
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Quite some story you have there ToP and a long journey ahead of you.
Fair play for facing up to the debts and tackling them head on, fortune favours the brave👍
I went down the consolidation route a few years (2014) back too for pretty much the same amount circa £20k which was all CC debt frittered away..... I have to say it worked for me as I closed all bar one CC accounts (need one for work) I had as soon as I'd consolidated and the outstanding debt is down to £6500.
Apologies, I have only read the first page and last two so this has probably already been covered (not time to read 32 pages). Maybe I mis understood but out of interest do you still have the loan from your parents or did you spend this when you received it? For instance if you still had it then I'd use it to clear the CC debt and part of the consolidation loan. What you'd save in interest payments would soon build the loan repayment fund back up.
BFKantankrus_Mare wrote: »I think the key to solving the extra funds for family gatherings/birthdays things is to allocate another envelope to put a regular amount in.
I know it stretches things even further but when needed.......it doesnt put a hole in the overall finances and cuts the stress factor on you.
Another solution is to ask for a contribution from visitors.
I dont think its a bad thing that when you issue an invite to say..."I will provide food but a contribution of drinks would be appreciated"
We went to a family gathering on Sunday and everyone took their own drinks. Not one person commented and a good day was had.Trying to figure out a whole new life. Trying to figure out a whole new budget.
Divorcing, unclear on final debt total right now, but focusing on building a financial buffer zone.0 -
Finally, my budgets balance again. Everything has gone out that will go out. And actually once the clothing returns that I have packaged up today have gone back (about 75% of what I ordered), we won't be too horrendously over budget - maybe £150-200, spread mainly between food and my clothing.
Which all sounds lovely, but the fact is I actually need some clothes for work - the returns today were all because they were unsuitable, rather than raging guilt about the purchases. Now that I've got a bit of a buffer in my business account, I need to take account of the other business expense of actually looking the part, so I continue to get work in. To this end, I'm going to start putting a percentage of turnover towards a 'professional dressing' budget. I still have a lot of work to do on my personal shopping issues (I'm not going to go as far as 'addiction', but I do enjoy clothes shopping and it's easy to enable myself due to my job), as I mentioned this morning, and I need to find that balance between looking the part for my job and overspending. I suspect that's going to a big part of this DF journey for me.
To do today:
1. Update YNAB as payments continue to clear from my account today. Continue to sob quietly. Done, and everything is finally accounted for.
2. NSD. Done.
3. Make risotto from the remaining wild garlic. Not done, will see if it's too limp and sad tomorrow.
4. Tidy up the dining room and stairs, continuing my 'one area a day' mission. Done.
5. Mend DD's dressing up dress, before it gets so bad I have to buy a replacement. Argh, not done.
6. Do some social media while working - have done practically none over holidays. Not done. Always takes me ages to get back into doing this after a break. Will add to tomorrow's list.
To do this week:
1. Make more candles - I did actually do this, but they kept being left to burn for hours due to heavy bathroom usage, so need to make some more. Need to find more containers so I can make more at any one time.
2. Tidy whole house. (Getting there)
3. Attempt to balance holiday budget disaster area once all payments have cleared. Done. Not exactly joyfully, but at least the numbers make sense now, and the shortfall is accounted for (if not covered yet).Trying to figure out a whole new life. Trying to figure out a whole new budget.
Divorcing, unclear on final debt total right now, but focusing on building a financial buffer zone.0 -
I think it's a great idea to budget for your "work" clothes in your Business account. They are the "tools of your trade" after all - like staff uniforms. If you didn't do what you do, you wouldn't need to buy them at all would you.
(Assuming this is "allowed" by the rules of taxation/accounting)How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)0 -
I think you've done well to identify the areas where all your good MSE intentions are really challenged (celebration events / hosting people and personal clothes shopping). It's a bit like dieting, isn't it? Easier to stick to in the day-to-day, but the real tests are those special events.
I think that adding envelopes for hosting and clothes shopping would be a good first step, even if you only manage to put £5 a month in each envelope you are creating some kind of buffer for the next event. With the grocery shopping, could you perhaps order the booze online and make use of a cashback website or voucher codes for cases of wine? Is it feasible to "invest" in a case or even a few extra bottles of wine or beer when there is a particularly good offer on MySupermarket? (If you haven't already, do check out the ALDI wine section - it's fab!)
I really hear you on the clothes front because this is an area of spending-weakness for me too. You say that it is necessary for your job, is it possible that you could put together 3 or 4 outfits that are worn only when you see clients? I know that this is going to sound really sad but I have a fortnightly outfit planner spreadsheet, I get all my outfits for work planned out in advance, including shoes, accessories etc (with a bit of wiggle room in case I have a big client meeting added to my diary) and then don't deviate from it. It really takes the stress out of deciding what to wear when I'm rushing in the morning, and having 30 mins per week when I plan my outfits is really enjoyable - I like coming up with a few different combinations for the same base itemI feel like a budget version of Cher from Clueless
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I'd second the Aldi wine selection! Their £5 prosseco is also delightful! They have a really nice Malbec too, if you're into red wine
My mum's favourite wine is from Aldi and it's only £3.95 or something.
CC1: £4481.14/ £5031.14 (12% paid off, £600) | CC2:£3307/ £3807 (14.4% paid off, £550) | Loan: £10,528.20/ £15,792.30((33% paid off, £5,264))
July debt total: £24,630.44 | New debt total: £18,316.34 | Total debt paid: £6,414.10 (26%)
*My debt busting and savings diary*0 -
Their prosecco really is great, I think it was your recommendation that got me started with Aldi wines JoJo!
I can also recommend the Gavi and Cotes du Rhone, and I've just noticed that you can build your own case on their website. Useful around Christmas time!
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Uh oh...apologies! Hope I haven't inadvertently cost you more money with that recommendation but glad it was usefulCC1: £4481.14/ £5031.14 (12% paid off, £600) | CC2:£3307/ £3807 (14.4% paid off, £550) | Loan: £10,528.20/ £15,792.30((33% paid off, £5,264))
July debt total: £24,630.44 | New debt total: £18,316.34 | Total debt paid: £6,414.10 (26%)
*My debt busting and savings diary*0 -
Great thank you are going to budget for your clothes out of the business account TOPM xxMummytogirls x0
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We bought veggies at Aldi a couple of days ago. A cauliflower cost 29p. A 2.5kg bag of potatoes, 6 tomatoes and a cucumber later the bill had crept up to a miserly £1.74! Even cheaper than Lidl, where we usually go. My OH is still talking about the bill.0
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TOPM, that's great progress paying off the debts. Quite exciting seeing your signature change. Can I have some of your energy :-))? OMG, do you believe in packing a lot into a day or not!0
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