Mrs S, family life and debt

wishingthemortgaheaway

Oooohhh exciting news regarding the money....

MrsSave

Well I'm wide awake! I've tried checking the bank accounts but it seems as if HSBC is down. There have been a couple of comments on their Facebook page about it, so at least they should be aware and working to fix it. Nationwide (bills) account checked and all ok. Dh's last pay of the month should have gone in to HSBC, so will check it again a little later.

We have had 1 quote for the new boiler. £1,900. It was pretty much what I was expecting so not big surprise. The man himself seemed very nice and knew his stuff too. We're still waiting for the second lot to send their quote through, but I was far less impressed with them when they turned up. They were in the house less than 2 minutes and couldn't really answer what we asked. They'll be sending a text quote through, but I've already decided we won't be going for them. Just need the third lot to call over now, they're supposed to be texting a time through.

Yesterday wasn't a nsd. We needed bread, and I bought a chocolate bar each for me and Dh. £1.89 spent. There's a collection at ds's school for their harvest assembly today, (there's something every week at the moment - I'm putting a pound in an envelope) and he brought home raffle tickets to sell. 10 books in total. Mil bought 3 yesterday and hopefully my mother will buy some this weekend. We'll end up paying for the rest. It's easier than going around trying to sell them!

Today won't be a nsd (other than the collection). Ds1 gets to choose what's for dinner on a Friday night (depending on how much money we have left for the week, and he has decided he want a chippy tea tonight. I've checked ynab, and that's fine. It's around £6/£7 for us all, so not bad.

Right, I've got another hour until my alarm goes off so am going to try a little more sleep.

MrsSave

:j :j :j :j :j :j

I bet you can never guess what

Yes, the money arrived!!

It also disappeared again pretty fast! The loan has gone. Everything other than 1 credit card has gone. That 1 credit card is at 0% with a direct debit set up for the same amount each month, so I'm not worried about it. If they were to turn around and ask for the whole lot back tomorrow, we could (just about) pay it.

I've transferred £5,000 to savings. These savings aren't going to be touched. They're 'losing our jobs, can't pay the mortgage savings!'. We also have other 'household' savings for a new boiler and anything else that's needed.

I feel that we're at a really good place now to move forward. Next Wednesday is that start of a new month, and we will stick to budget, we will not overspend and we will be sensible. I think next month will be the big test of living within our budget.

We start every money week on a Saturday. I split our month's disposable income (after taking out boys' clubs, petrol, car savings, other savings, holidays, birthdays, Christmas, etc money) into either 4 or 5 weeks (depending on how many Saturdays in the month). Tomorrow we will have £122.04 to last until next Friday. Our food shop comes on a Saturday, so once that's in the rest is ours. If we want a takeaway it comes from there, if we need school uniform it comes from there, etc.). If there's money left over it gets moved (on ynab) to the weekly left over pot as there could be some weeks where things are more expensive. At the end of the month, anything left over in the 'left over' pot will be split 50/50 between savings and rolled over into next month.

My way of thinking is that if we run out by mid week, and there's nothing in the left over pot, then there's only a handful of days before our next week starts. That's always doable. Running out of monthly money half way through the month and then having to wait until pay day is far harder.

Also, whilst budgeting each month I take out any 'planned spends' before we split what's left. This means that if we've planned a day out, meal out or an activity the money is put to one side and we're not having to find it.

I'm really looking forward to the start of November now. At the moment I've got almost £30 in the leftover pot, but as it's Half Term next week, that could disappear. If it does disappear, it doesn't matter. It was there as spending money. If we have some left, it's brilliant.

I'm actually working 3 days next week so we'll only have 2 days with things to do. I'm planning lots of Halloween baking with my eldest on Tuesday, and the ingredients have been added to tomorrow's food shop. I don't actually think it will be an expensive Half Term.

debtaghh

Congratulations, that must be an amazing feeling!

MrsSave

debtaghh wrote: »

Congratulations, that must be an amazing feeling!

It is, but I'm pretty fed up thinking about what we could have done with this money if we had no debt at all. We are so lucky, though, and have almost £300 extra each month now. That's amazing.

MrsSave

I've been on hold with Next for the last 15 minutes. I love next clothes, especially for the boys. My limit is a ridiculous £5000, though. I mean, who needs that limit for buying clothes! I've decided to reduce the limit down to £500. I should probably get rid, but I do buy bits in the sales for the boys and I love the early access to the sales. I just need them to answer the phone and speak to me!!!!!

enthusiasticsaver

Wonderful news and you must be feeling great. Good to see that you are determined to carry on living within budget and yes you will have £300 extra each month of your money to spend, save or whatever. I agree with sticking so much in a savings account too. Also good to reduce the next limit if you think you may be tempted to overspend. Next is ridiculously expensive for kids clothes unless it is in their sale.

wishingthemortgaheaway

Woohoo great news.
What a place to start from.
Don't dwell on what 'could have been' think about the difference this makes going forward. You are on a really secure footing, you have a plan and it's a plan with some breathing space. You've got great habits from your debt free journey, keep them up.
Are you going to chip away at the remaining card or just let it run it's course?
I hope you are going to treat the yourselves to a little something to mark this weekend.

Sleep well
Wish

DrSpendLittle

Great news! I read your diary from start to finish yesterday and was waiting patiently for an update too!! :rotfl:

Glad to read about your plans - you sound very determined. It must be a nice feeling having that weight of worry lifted.

Subscribed and look forward to your journey ahead.

MrsSave

enthusiasticsaver wrote: »

Wonderful news and you must be feeling great. Good to see that you are determined to carry on living within budget and yes you will have £300 extra each month of your money to spend, save or whatever. I agree with sticking so much in a savings account too. Also good to reduce the next limit if you think you may be tempted to overspend. Next is ridiculously expensive for kids clothes unless it is in their sale.

Thank you Didn't manage to reduce the next limit - after over 20 minutes on hold I gave up and went to bed! It's one of my tasks in the morning.