Finally Debt Free After 34 Years, But Still Need to Live Frugally

HairyHandofDartmoor

Today DH and I are going to Mr T to do our weekly food shop. There are one or two things not available on line, plus it's just nice to go sometimes . DH will work in the cafe on his laptop whilst I shop. It could be expensive because we need laundry powder, DH needs razor blades and I need conditioner, plus we need dental floss, mouth wash and soap. These thing always knock up the bill a lot before we even get to the food :mad:. However I will aim to spend no more than £70. I suspect it may be nearer to £80 though as DS3 eats so much .

I'll post my signed form for my new savings account back to Mr T bank while I'm there .

After that I need to ring tax credits, make me a hair appointment, make us all dental appointments, and start on some tidying, cleaning and de-cluttering.

I also want to open a VAT/tax savings account for DH as he is still unsure about de-registering for VAT :mad:. Every time we get paid by a customer I will then transfer 20% into the VAT account and tell DH he is not allowed to touch it in under any circumstances. This will stop us building up big VAT debts.

jwil

HairyHandofDartmoor wrote: »

I wonder if you can buy them? After all you can get plastic grass :rotfl:.

You can indeed

https://www.kedel.co.uk/recycled-plastic-fencing.html

HairyHandofDartmoor

jwil wrote: »

You can indeed

https://www.kedel.co.uk/recycled-plastic-fencing.html

Beanie needs that link :rotfl:. It doesn't look too bad actually .

Willowtree222

Ha ha,

I agree with everyone about the plastic shed though. if it makes things easier for you, then it will be worth it. x

daisy_1571

HairyHandofDartmoor wrote: »

I also want to open a VAT/tax savings account for DH as he is still unsure about de-registering for VAT :mad:. Every time we get paid by a customer I will then transfer 20% into the VAT account and tell DH he is not allowed to touch it in under any circumstances. This will stop us building up big VAT debts.

:T:T:T:T:T:T:T:T:T:money::money::money::money:

Fab idea

Daisy xxx

EssexHebridean

I was going to reply on the car tax but Daisy has done it already!

Never underestimate how hard it is to transition from putting everything you can to paying down debt, back to a position where you have leeway and can use savings wisely to benefit yourself, and also to save yourself money down the line. With the car tax, how about taking the money from savings, and then setting up two monthly standing orders/automated transfers from your current account going forwards - 1 to a dedicated savings account for car related expenses for 1/12th of the cost of next year's car tax, and the other to the EF for the difference between that amount and the £29 a month that you WERE paying? The money will gradually trickle back into the EF AND you'll be saving ready for next year's car tax as well? We do the monthly set-aside for car insurance as well - you save a lot by not paying monthly, so once the money is sitting there it does pay to use it like that.

As for the plastic shed - I'd say that £100 is a small price to pay for improved mental health - I wish all MH problems could be helped for that sort of money!

EssexHebridean

HairyHandofDartmoor wrote: »

I also want to open a VAT/tax savings account for DH as he is still unsure about de-registering for VAT :mad:. Every time we get paid by a customer I will then transfer 20% into the VAT account and tell DH he is not allowed to touch it in under any circumstances. This will stop us building up big VAT debts.

This is another no-brainer - when I was SE I did exactly that for income tax & NI - took out 20% of everything I was paid as soon as it landed - no nasty surprises in January! Just viewed it as "not money" from the start.

Seasidegal58

Just catching up with your diary - oh dear about DH and the VAT! I thought he had made the decision to re-register!:eek:


I do agree with others on buying the shed. You have sounded depressed in the past about the amount of your clutter and I think this would be an excellent way to begin the removal process.


Have a good day Hairy.

HairyHandofDartmoor

daisy_1571 wrote: »

:T:T:T:T:T:T:T:T:T:money::money::money::money:

Fab idea

Daisy xxx

EssexHebridean wrote: »

I was going to reply on the car tax but Daisy has done it already!

Never underestimate how hard it is to transition from putting everything you can to paying down debt, back to a position where you have leeway and can use savings wisely to benefit yourself, and also to save yourself money down the line. With the car tax, how about taking the money from savings, and then setting up two monthly standing orders/automated transfers from your current account going forwards - 1 to a dedicated savings account for car related expenses for 1/12th of the cost of next year's car tax, and the other to the EF for the difference between that amount and the £29 a month that you WERE paying? The money will gradually trickle back into the EF AND you'll be saving ready for next year's car tax as well? We do the monthly set-aside for car insurance as well - you save a lot by not paying monthly, so once the money is sitting there it does pay to use it like that.

As for the plastic shed - I'd say that £100 is a small price to pay for improved mental health - I wish all MH problems could be helped for that sort of money!

EssexHebridean wrote: »

This is another no-brainer - when I was SE I did exactly that for income tax & NI - took out 20% of everything I was paid as soon as it landed - no nasty surprises in January! Just viewed it as "not money" from the start.

Thanks for the excellent advice Daisy and EH .

I know both of these things are good ideas but when we were very short of money we had to use the VAT money to buy food, pay the mortgage sometimes, etc .

Anyway now we have some savings and no debts :T we can be more organised and sensible with our money .

I'm thinking that I will save my wages every month in a savings account towards car related expenses and other sorts of expenses. It's only £180 per month after deductions but it will mount up. Also I may get a tax refund at the end of the year which will top it up .

HairyHandofDartmoor

Nicnak wrote: »

Ha ha,

I agree with everyone about the plastic shed though. if it makes things easier for you, then it will be worth it. x

Seasidegal58 wrote: »

Just catching up with your diary - oh dear about DH and the VAT! I thought he had made the decision to re-register!:eek:


I do agree with others on buying the shed. You have sounded depressed in the past about the amount of your clutter and I think this would be an excellent way to begin the removal process.


Have a good day Hairy.

Thank you both .

I thought he'd decided to de-register too, but the acountants told him we don't have to use the new software because we have NEVER been above the VAT threshold, so now he's undecided .

With regard to the plastic shed I've decided to definitely buy one, because I think you're right £100 is a small price to pay for improved mental health .