Building the future!

Gemsy81

Thank you Moguline, yes I'm pleased I've managed to get a good start.

Trying to pick myself up today, I had a bit of a meltdown last night about the business debt....I just started panicking and could not see a way out of it. There is some HMRC debt which I have made an arrangement to pay on, but its such a huge commitment, I just suddenly felt overwhelmed. I barely slept last night going over and over it in my head and worrying I was going to end up in prison if I didn't pay it (dramatic I know, but these are the thoughts that torment at 4am). It has not been a good year so far profit wise which is crushing when we spent an absolute fortune last year on a project that was supposed to make the business more profitable. I've done some emergency cuts and I think I've identified the areas we have lost money, but I am just struggling to see the way ahead right now. The only thing keeping me going is avoiding bankruptcy (I am a sole trader so everything is in my name), as there is absolutely no way I could afford to service the debts if I was in a 'normal' job. If I wasn't worried about the ramifications of that, I would just cut my losses and walk away from it all TBH...or thats the way I feel today.

So in my head, I'm trying to see that actually I have made progress. I'm calling HMRC today to make a payment by card. Its a week early but I had the money earmarked and I think mentally it may help me to do that today. And the revenue do like you a lot more if you pay a bit early. It reminds me of when I was a teenager, my dad used to tell me that coming in 5 minutes early from a night out would buy me serious brownie points, but 5 minutes late would make everyone really mad, and for the sake of 10 minutes it is better to be in everyone's good books

Mnd

Just check the savings plan with nationwide, are you talking about the regular save, cos you can only put so much per month 250 I think..but if you have joint accounts then you could have 1 each

Gemsy81

Mnd wrote: »

Just check the savings plan with nationwide, are you talking about the regular save, cos you can only put so much per month 250 I think..but if you have joint accounts then you could have 1 each

Thanks MND, I will do that....maybe thats why the transfer keeps failing when I try and do it!

natsplatnat

Gemsy81 wrote: »

It reminds me of when I was a teenager, my dad used to tell me that coming in 5 minutes early from a night out would buy me serious brownie points, but 5 minutes late would make everyone really mad, and for the sake of 10 minutes it is better to be in everyone's good books

ha ha! This made me chuckle.... when I was a kid and I was late in, my parents would deduct however late I was from the next days time. So say I was due home at 8pm and I got home at 8:10, the next day I had to be home by 7:50... if I was 10mins late that night, the next night would be 7:40. I was always late!!

[Deleted User]

Hope you feel a bit better today, Gemsy! Thoughts spiralling at night is a problem of mine as well, so I sympathise!
I am sure you will prevail, you are just getting started sorting everything out, every step you make is progress - don't beat yourself up if it takes a while to get there in all areas of life!

Gemsy81

Moguline wrote: »

Hope you feel a bit better today, Gemsy! Thoughts spiralling at night is a problem of mine as well, so I sympathise!
I am sure you will prevail, you are just getting started sorting everything out, every step you make is progress - don't beat yourself up if it takes a while to get there in all areas of life!

Thanks Moguline....apart from functioning on about 2 hours sleep :eek:not too bad. I've made my payment to HMRC, and I'm getting on with the practicalities of making more money!

Gemsy81

Hello everybody, hello diary I have been a bit AWOL....I've had a lot of work on, and then was away over the weekend.

So I'm back, and I've just updated my YNAB for any spends over the weekend. After this weekend (which was pre-planned and budgeted for), I've a grand total of £8.80 in my personal 'pot' for the rest of the month, so this week will be frugal, and mainly spent either working, or pottering around at home. I am pleased to note though, that as a family, we have not eaten out a single time this month....believe me, that is MASSIVE progress for us!

The grocery budget....the wheels have slightly fallen off at the last hurdle. Firstly, I made the mistake of letting OH come shopping with me (never again....he CANNOT got into a supermarket without spending a fortune!). Secondly, we seem to have run out of everything store-cupboard like in one go. So...dishwasher tabs, gravy/stock, sauces, various condiments etc etc etc. Because of this, I have taken the decision to 'reclaim' much of the overspend from next month - as we should now not have to restock these items then. Thats the plan anyway

[Deleted User]

Well done on the not eating out! That's a challenge for us as well, we used to eat out every week!
Can really feel the determination shine through in all your diary entries.

beanielou

Well done on the not eating out.

Gemsy81

Thanks Moguline and Beanielou for the encouragement

I've had a few super busy days, both on the personal front and work wise. Feeling positive, as I feel like I am getting somewhere with nailing down these work budgets.

I have a very busy work day tomorrow, and then the intention is to sit down (maybe in the evening...if I don't have too much housework to do...) and get all my YNAB done for July and August (Moguline....thats your inspiration, thank you!).