Not in control

drownindebt

Pay day!
Moved all the money around and I've brought in a packed lunch. Have a birthday drinks, but I'll use my cash for lunch/sundries - hopefully limit it to one drink.

Feel confident about this coming month - if anything, to remove the line-items in my statement from all the lunches I get!

drownindebt

Weekend gone - how did I do?

Good news: got a buyer for my MacBook - £400. Also sending off my phone.
Bad news: had a meal out in London with the family. That should be the only one of the month, and I've put into the budget to rearrange.

Trouble looming though - the car has a temperature issue. I've already spent £30 on coolant (which evaporates). Unfortunately, my usual cheap mechanic has gone on holiday, so having to find someone else who I can trust.

Also have a leak in the bathroom that won't go away. Will likely buy some silicon sealant and put it everywhere I can - fix up and look at replacing the bathroom later next year.

Finally, I've been in a bit of a bad mood the past few days through worrying about all of this.

Part of life's rich tapestry!

drownindebt

Car fixed, but that's £106 out of savings. I guess that's what the emergency fund is for (when I have one).

8 more payments on the sofa finance, then that is done. Mid-next year I should finish the wardrobe payments, then it's just the credit cards and the loan. Bit by bit I'm winning.

drownindebt

Attempted to put some silicon sealant around the bathroom edges today, as we have a leak from it downstairs. Made a complete mess, bit dizzy from the fumes and ultimately, it looks awful.

I did look under the bath and hidden from view, there's a few bits of food that are soaking.

So two things I learned today:

1. I'm not cut out for interior decoration
2. I need to save up for a new bathroom

There's so much of this house to do under the surface, with my credit card payments, loan and everything else - I really don't know how I'm going to afford it.

Practically after the holiday next week, I'm going to put away about £500 per month for home improvements. It will mean it takes longer to pay off all my debts, but I can't subject my family to a home that's falling apart.

And when it comes to next years holidays, we're going to have to do something drastic. I'm thinking of asking my grandparents in law to use their house in the south of france for ten days maybe. That would remove accomodation costs for sure.

Anyway, I feel a bit beaten with today. Work Monday-Friday is fantastic, but when I come home, I'm reminded more of my debts, home improvements and more.

This glass of wine may help

enthusiasticsaver

If you constantly prioritise the home improvements and holidays over debt repayments you will end up paying a lot more in interest unless the debts are on 0%. You pay almost £1000 a month towards mortgage, bills and food. How much does your wife pay? Can she pay towards the home improvements (new bathroom etc)? It is not totally down to you to sort the house out.

drownindebt

enthusiasticsaver wrote: »

If you constantly prioritise the home improvements and holidays over debt repayments you will end up paying a lot more in interest unless the debts are on 0%. You pay almost £1000 a month towards mortgage, bills and food. How much does your wife pay? Can she pay towards the home improvements (new bathroom etc)? It is not totally down to you to sort the house out.

Thanks enthusiasticsaver. It is down to me - I earn more and to be honest, I've got a lot of making up to do.

It's super annoying because I wanted to pay down my debts and then (I know this sounds ridiculous) trade in my crappy fiesta for an estate (there's 4 of us).

We can't release funds from the mortgage to sort out all the leaks in the house (there's a leak in the bathroom, the whole southern wall needs re-pointing as its visibly letting water in), the boiler needs checking, and all the other bits to the house that make you feel like owning a house is worthwhile (e.g. painting the deck).

Are you saying that, despite all the above, I should pay down debts, then save up, then pay for the fixes to the house in savings? If so, I think that's about two years away.

Appreciate the comments - please keep them coming!

quintwins

House repairs like the pointing need done as soon as you can yes but as long as thinks like your bathroom are functional they can wait, I think her point was your focusing on holidays you just can't afford. even with a free house a holiday to France will still cost you money you don't have. You will need to allow some money aside for house repairs but £500 is alot! just seal the bath up and leave it as it is....my own shower leaks into my dining room, we just don't use it.

Also this is your family home, asking your wife to contribute isn't out of the ordinary.

Dorastar

Just read through and I would still get the emergency £500 saved asap then prioritise highest APR debt next. We have lived here 10 years and are also at the point where things are starting to fall apart/break so we've had to do a list of absolute essentials (exploding toilet!) then each thing once it's saved for from cutting back elsewhere. Rope in other people too, we had a garden party where for a few beers and a BBQ friends spent time helping us strip back and plant the garden, some gave us plants or planters too. Good luck

drownindebt

Great help - thanks! Yep, holidays next year are going to need a rethink for sure.

I'll get quote for the works that need doing. I think the boiler probably needs to come first!

enthusiasticsaver

There will always be something to pay out for. Sadly unless you are a millionaire and few of us are then we have to prioritise what is paid out. Debt is usually accumulated by a failure to do this and yes you are in danger of going down that route. You have paid out for a holiday, wardrobes and a sofa without having the money to pay for them. You are paying minimums on debt which effectively means they will never be paid off and you are now talking about new bathrooms and a new car and a holiday in the south of France next year when you literally have 0 spare each month bar the £500 going towards the holiday at the moment and the soa should really take car maintenance into account and an emergency fund.

Sorry to be harsh but with £22k+ of unsecured lending it really would be better after your holiday to clear the credit cards then start saving for all these wants. It is not unreasonable to ask your wife to help too. are the credit cards on 0% deals and if so when do they finish?