Single, six kids and going to be debt free!

Mumoffourkids

Thanks wishing for your ideas. I definitely want to put some into the emergency fund. At the moment I am putting £12.50 a week into there so I have £37.50 at the moment (I have updated my signature now).
I have little savings accounts online for the following categories and they all have something out into them weekly.
Emergency fund
Christmas/birthdays
Clothes
Car maintenance/tax/breakdown cover
House maintenance/white goods
Holiday fund
Holiday club (to pay for childcare for middle three when they are on holiday from school but I still have to work)

So maybe I have gone a bit overboard but it helps me if I have money saved up for certain things. Because I am putting away each week, I am not too fussed to have a complete £600 emergency fund straight away. I might top it up to £300 or £400 so I have a bit of a buffer in there!

I have been thinking overnight and I'll definitely try and take the kids out but it is hard to find something that they will all enjoy due to the age range, youngest is 17 months, oldest is nearly 16! And then it is finding the time as weekends we have rugby training every Saturday and most Sundays at least one of the kids will have a match!

The other thing I think I want to do is buy myself a birthday present (it's my 40th on Monday) so that I have something to remember my nan by.

I am also itching to pay off my target debt. It's the only one apart from my overdraft which has interest on it and as of now I have £198.85 left to pay.

There are other things I would like to buy like the girls really need a new chest of drawers as their one is too small and broken. I know they can use the one they have but it would be so easier to get them to put their clothes away if they have a chest of drawers that works!

So today I am going to work out what I can do with the money, and go to rugby training and get my eyes tested and probably a million other things that I have forgotten already!

Spendless

I've read something before that says do 1/3 for the past (debts) 1/3 for the future (savings) and a 1/3 for the present (anything pressing, needing to be done/bought etc)

Mumoffourkids

That sounds good Spendless. I think something along those lines would be good. Now just got to work it out!

f0xh0les

Hello!
I am outing myself as a lurker.,

You are doing so well. I only have 4 boys, so not quite in your league, but I had them in 7 years, so they are all bunched up.

My tuppence worth - pay off the first debt. It is relatively small, and then it will be gone -pouff- and success number 1 is on the board, and no more interest to be paid on it ever. Great motivation.

As to the chest of drawers debate - I have gone old school after my kids trashing so many, I only get mine from second hand shops and charity shops. Old wooden ones that were actually made to have clothes put in them, and they are not made of cardboard. Shape and size is more important than condition, as you can paint it up pretty quickly and new handles are quite cheap. Chests of drawers and cabin beds are two of the biggest cons ever. And the price!!! It is practically criminal

Plus you don't have to be arty or crafty, it is just painting/spray painting, and it lasts!

Happy birthday for Monday. There is no shame in making your own cake / buying your own presents if no-one else does. 7 people in most people's house is a party, you have your own ready made one. You are blessed and loved.

I don't know quite which region you live in, so can't comment on what would be good for 17 - 17 month olds. Mine were totally happy holding a stick, wearing wellies and watching rain go down a drain at this time of year. But that's boys for you.

Mumoffourkids

Thanks foxholes for delurking. Mine are spread out a bit but I have two that are only 17 months apart and two that are 18 months apart exactly. I also have four girls and two boys. Finding something that they will all enjoy will be hard. I expect we will have a takeaway on Monday, I was thinking about going out for something to eat but that's hard work!

I think I will pay off the smallest debt and then it is gone. I hopefully would have paid it off by the end of next month anyway. But as you say if I do it now, it is gone forever.

Regarding chest of drawers, I like your thinking. There is a really great second hand furniture shop nearby that does free delivery. I have had a few bits off him already for the house so I might go there to have a look. I have one that was my eldest's but it is slowly falling apart and I could do with a new one. Then I could get my girls a bigger one and half the clothes I have in mine for my youngest could go in there as well. I do have my old chest of drawers when I was a baby but it needs some work doing to it, so that is a project for another day. I am hoping to pass it on to whichever of my kids has a baby first as it is ideal for baby clothes.

And thanks for the happy birthday, I think I may have decided on a couple of pandora charms for my bracelet. One says family and one with my age on it. That won't cost too much and then will be something to remind me of my nan.

Drawingaline

Just catching up, you are doing so well. Happy birthday for Monday, mine is on Tuesday, but a few years on from the big 40. You seem to be reacting better than I did with hitting 40, it was an awful time for me and I acted out like a teen lol!

You little inheritance sounds a nice surprise, definitely pay off the smallest debt if you can, and bulk up the emergency fund a bit.

Seasidegal58

Yes happy birthday for Monday!

Agree with everyone on paying off the smallest debt and depositing into the emergency fund. It’ll be a big financial psychological boost to see the debt disappear.

Mumoffourkids

Thanks you two, I am not sure I feel like I am going to be 40 in just two days!

I have paid off my smallest debt so that is gone forever! I'll update my signature in a bit. Also need to update my January goals list!

I put £300 into my emergency fund and gave my eldest £100 as she was going to town today to buy me some birthday presents. Some of the £100 is the kids pocket money and some is from my nan. I saw a couple of charms that will go on my bracelet and told her to see if she could find another one that she chose.

So I think I have about £400 left. My next debt to target is my overdraft as that is the only other one that charges me. I have added some columns onto my spreadsheet so I can see when I will get charged and it's not many times in the next couple of months so that's a bonus as at the beginning of January I was £32 off my overdraft limit!:eek:

Today I have been mostly looking after the youngest as she keeps being sick but I did manage to go and get my eyes tested and I do need glasses for driving but as I have a tax credit exemption certificate, the eye test was free and myglasses will be free :j

I am going to get the kids to hoover the stairs and the middle floor in a minute so I don't have to do it, and I will finish the dinner off.

Honeysucklelou2

Happy Birthday for Monday! Last year was my first birthday as a single parent and I found it helpful to be out . It was my day off from work anyway so the toddler and I went out for lunch with my mum. It was good to have a complete change of scenery and celebrate the day.

Re your DD's sixth form choices...one of my DD's friends is doing a level 3 diploma in forensic science. The diplomas are a recognised route to university too, should your DD want to.

camz2017

Hey just catching up, my life’s been a bit manic.

Re the £1000 I always think treat yourself a little and put the rest to debts. Maybe do a 50/50 or something like that. I think you and the family deserve a day out where you’re not worrying about the money or surveys or whatever else... in all honesty consider treating yourself, like get a facial or something you would never do. You work so hard everyday!

Re the ex not talking to you, let him send you just one message to say he’s not talking to you, and calmly respond “no worries I respect your wishes.” Don’t send another message, don’t call, don’t text, show him no emotion, you’re better than that nonsense. If he’s not replied to your messages don’t send anymore, and don’t apologise please! Let him come begging for you back, don’t make it seem like you’d just accept him back. Keep your self worth high, he made a choice not you, it’s not your responsibility to try and fix his poor choices.

Hope you have a lovely birthday. If you were my mum I’d get you flowers.