2nd attempt at this debt busting malarky

jvr

Second attempt at a diary, felt I needed a new start!
First of all, I am in my late 20’s and live with my husband, cat and two dogs (we bought out house about three years ago). We got into debt when I took a different job that was a drastic reduction in salary, we also never budgeted and as time went on it just grew and grew. I started working on reducing it over a year ago but I never accounted for things I had to spend on and after a while the debt got worse not better. My OH then damaged his knee and has been off work since the end of September, luckily income protection kicked in but spend two months in between on just SSP which was hard (SSP about to run out as well so then will just be income protection money). We then also went to South Africa for a wedding and for my OH to see his mum and sister. I hadn’t been in three years he hadn’t been in two so no regrets about that trip….
… except we are in worse debt that ever!
Starting debt at the end of January was £10,006 because of a holiday money payment for OH we got it down to £8883.02… will update new total on the 21st when I get paid.
The biggest difference I feel this time is we are really budgeting rather than throwing every penny at the debt and then running out and having to use the cc. Neither of us keep a cc on us anymore which certainly helps! Nearly half way to having my EF fund at £1000 which is the aim due to a payout from KLM on delayed flight home for me from South Africa.
Hoping this time, I manage to actually tackle this debt!

riotlady

Good luck with the second diary Sounds like you're starting from a good place

Starmummy

happy new diary.

Good luck on your journey

SM

jvr

Thanks, riotlady... I really hope this time I have the gist of it!


I have been thinking a lot about our priorities and how we can manage to get out of debt. I have read so many inspirational diaries here, some where people are super frugal and pay off huge amounts quickly, and others where people take a more balanced approach. I think I have always aimed for a few days to be the first person and then inevitably failed and thought oh well I have overspent now I might as well keep spending.


We have a couple of things that make it harder, firstly as OH is from SA we need to look at regularly saving for trips there which realistically are £2500 every two years. His family don!!!8217;t have the money to come visit us and we are also constantly under pressure to send money (story for another day, I could rant for hours!)


As OH is SA we have had numerous expensive visas and will apply for citizenship at the end of the year, my dad gave us some money for this which is safely tucked away!!!8230; we are hoping may have about £1000 left after the visa which can obviously knock a chunk off our debt.


Our car needs work done in the summer which could be about £700!!!8230; so putting £100 a month aside for that !!!8230;!!!8230;


We both smoke!!!8230; I know aside from the debt it!!!8217;s an area that I really need to focus on but sometimes feels impossible.


So, I come out with £1300 after tax and putting in decent amount to my pension (if I put in 5% work do 10% so it!!!8217;s no brainer) OH has £1000 from income protection and I think one more lot of SSP at £400 at the end of the month, so were not exactly rolling in it and we have no idea what OH will earn once recovered as he won!!!8217;t go back to the old job (horrible company). I!!!8217;ve never done a full SOA as I know I have everything on cheapest I possibly can and shop around!!!8230;. It!!!8217;s our spending that!!!8217;s the issue!

LiveLifeFull

Hi JVR,


I can completely relate. I really struggle with finding a balance between living life and enjoying my relationship and paying off our debt.


What I've found that works really well is, I plan for activities throughout the month, spread over different weekends


For example:


Bowling one weekend: £20.00
Nandos another weekend: £25.00
Drinks at the pub: £15.00
Shopping in town: £30.00


So then, I allocate myself that money for the month! and whatever is left over goes towards paying debt. That way, I know I'm still going to get the "pleasure" of spending money on myself, or making memories with my OH, but its in a more controlled way.


I find if I do this, I stick to the budget much, much easier!

onedaysomeday

Good Luck

jvr

Thanks Starmummy, ondaysomeday's and LLF!


That's quite a good idea LLF making sure my 'allowance' is spread over the month and I can plan nice things in (like a new super expensive foundation I am nearly out of and can't live without!)


Went to the Iceland version of aldi last night and spent £33 I dread to think what I have spent on food this month but got quite a bit of stuff and much more than could get in somewhere like Tesco.... made chicken skewers using some peppers that were about a day away from death for my lunches and some for OH and then we had the Wagyu burgers which are so yummy but £3 for two....


Pay day tomorrow .... I think once get my foundation (£33!!!!) and tobacco (I know I need to stop and would have all the money for nice things I want!) I will have enough left over for maybe a coffee one day with a friend.... then its waiting for OH's pay on the 30th!


Have set aside some money in budget to get material and a staple gun to redo the dining room chairs which are a lovely set that I painted, my mum gave us the table and chairs a few years ago but the material is very worn... hoping finally sorting that out will make me feel better. Maybe one house job a month would be good.... next month I might budget for a frame to fit a beautiful painting we bought in Camden years ago and is rolled up in a cupboard...

jvr

Paid off a very unimpressing £184.64! But had expensive car service and dogs injections so overall it could be worse.
Main issue this month was me smoking cigs not rolling, OH buying too many beers, and our food budget. All things that I intend to monitor this month. Easy month to do it as I will have to do all the shopping after OH's op tomorrow so can try divide the shopping into categories to see where we can cut back.


Money is all divided into pots so have 10 days till OH's pay day which I think will be his last lot of SSP, I have edited our future budget to account for this so I think things may slow down but even if paying £100 a month off debt and not getting into more debt I need to count it as a win!

beanielou

Shiny new diary

LiveLifeFull

I'm curious about which foundation you use JVR? I love Chanel and Estee L Doublewear. :A Currently mixing my Chanel in with a cheaper foundation to make it last longer :rotfl: But I've been hearing really good reviews about the Armani foundation but its so expensive! I think its like £40+ which I cant justify - but I want nice looking skin haha! Foundation addict over here!

jvr

It's the double wear... I just can't cope with anything else! Did lots of searching online today and found it cheapest on allbeauty at £29.50 with free delivery... better than the £33.50 its gone up to everywhere else! I use Dermalogica skin smoothing moisturiser underneath and it makes it slightly dewy but stays on perfectly. My skin creams/ skin make up taste is not cheap but for mascara eyeliner on anything like that I'm happy cheap... just not on my skin... no regrets it makes me happy and when I'm careful lasts 3 months


Thanks Beanielou .... feel like this diary might actually be the one time I manage it.


Ordered a staple gun and material for my dining room chairs today from amazon... all budgeted and can't wait to do them!


Also seen a jacket and bag I REALLY want on there but I know I can't afford it yet... being good is so boring... may get the jacket on OH pay day out of allowance and save bag for next month


Driving it home that if I didn't smoke I could afford both............