Single, six kids and going to be debt free!

camz2017

So glad to hear your situation has improved and sorry I didn't realise it was part of a birthday. £800 is great, you will clear the debts quite rapid!

For the record I love my lounge-around clothes, mainly my onesie

Mumoffourkids

camz2017 wrote: »

So glad to hear your situation has improved and sorry I didn't realise it was part of a birthday. £800 is great, you will clear the debts quite rapid!

For the record I love my lounge-around clothes, mainly my onesie

Yes it was very hard for a while with no money so that's why I am good on a budget and know that I can afford the £800 a month. Just thinking about when the debts are paid off what I could do with that money. Saving will definitely be happening but in about two and half years, my eldest will be off to university so if I can help her that would be great.

Yes I don't tend to buy many toys for the kids for birthdays, more practical stuff like clothes etc. They still get one or two toys though. Last year I managed to get most of his birthday presents using nectar points from work and Amazon vouchers from work so I'll be hoping to do the same again.

I have many pairs of pyjamas and would live in them if I didn't have to leave the house. I only have one onesie though! The kids have loads though and my eldest us like me, would live in her lounge clothes if she could!

Mumoffourkids

So new week of budgeting as my tax credits and child benefit got paid in today instead of Monday. All money has been allocated on Ynab including mont to savings pots. I worked out how much I wanted to save monthly and then split into four as the majority of my money comes in weekly. I then get some money two weekly and some money monthly. It's a very complicated budget!

In addition I have watchers on the item I put on 3bay last night and someone interested in a bed I am trying to sell. Today's plan is clean and tidy house ready for four oldest children to return, dry loads of washing and put it away and find more stuff to sell!

CoffeeCakeYarn

Just read through, you're off to an amazing start! Have you noticed ebay has slowed down? I've got a ton of watchers at the moment but nothing actually selling!

Don't envy your budget all coming in at different times of the month, I struggle enough with once a month Good luck with your journey, I'm sure you are going to smash it!

Mumoffourkids

To be honest I have only just started selling on eBay again so no idea if it is going to work or not. I used to sell loads on there, but recently have been trying FB but for the item I am selling, my daughter's Jumperoo, FB hasn't worked. So I thought why not try eBay and hopefully it will sell on there.

Yes my budget is crazy, I have tax credits and child benefit and one lot of maintenance weekly, housing benefit every two weeks and my wages and other maintenance monthly. In addition my wages get paid the third Thursday of the month so sometimes it's a four week month and sometimes a five week month. Sometimes I wish it was all monthly then I could just budget everything for the month and not have to worry about putting money aside each week for monthly expenses like rent and childcare.

I have spreadsheets and also use ynab to try and work out what is going on and what money needs to be used for what! My spreadsheets I am trying to force cast ahead for the year as some months will be tighter than others like august as no childcare funding!

That reminds me I just work out my average childcare costs for the year and put it into the calculator to see if my tax credits are right.

CoffeeCakeYarn

Honestly that's amazing, I don't know how you keep up!

Mumoffourkids

I am very organised or at least I have to be. I also am an accountant so I love spreadsheets!

timetobefrugal

Just wanted to pop in and wish you luck! Sounds like you're off to a great start, keep that pace up and you'll be debt free before you know it

Mumoffourkids

Thanks Timetobefrugal. I am very determined, just wishing next pay day was now so I can start paying off more and see my totals coming down.

I have someone coming to pick up a bed tomorrow so that's another £70 earnt hopefully. I've got to have a look round the house and see what else I can sell next!

I have added a signature now and I'm going to focus on one of the smaller debts to see how quickly I can pay it off. The extra money coming in from selling stuff will help.

Included in my budget is a £10 a day spend on other stuff. I know this sounds a lot but would include stuff like school trips, after school clubs, school donations, anything else we need. I am hoping that I don't use the full amount each day and then at the end of the week, what I haven't spent will go to debt repayment.

wishingthemortgaheaway

Evening. Just thinking about your complex income arrangements, could you start to work towards the ynab 'month ahead' approach soceverything that is income in (for example) January, gets put into ynab as 'income for February' then when you get to Feb, all money received is 'income for March' that way you have all your money ready at the start of a calendar month.

I don't know if it would work for you, and it does take a while to get to that point (I'm still not there, but I would love to be) but my income has been monthly and regular up to 18momths ago (paid on the 20th of the month, assigned to ynab for the 1st of the following month.)

You are doing brilliantly.
Happy New Year

Wish