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Crunchy's Final Debt Free Diary!

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  • I think mulling over future plans is good so long as it does not throw your focus and you try to do so much you end up not doing any of it. As for the guilt thing I would try not to beat yourself up about it. We all make mistakes. You tried it for a year and it did not work so now you are trying something else.

    I am a bit confused as to the reason for the credit card debt increasing and why you are not doing an emergency fund? Surely that is the very reason for an emergency fund to cope with unforeseen expenses? Also if you are only paying £300 a month the credit card debt will not be gone by November 2020, no where near? Again just throwing comments out there so feel free to ignore. We all have our own ways of doing things.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

    The 365 Day 1p Challenge 2025 #1 £667.95/£162.90
    Save £12k in 2025 #1 £12000/£7000
  • Or are you paying more than the £300 minimum? Maybe an soa would help? Are you saving for the holiday and paying it off gradually or have you put it on cards?
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

    The 365 Day 1p Challenge 2025 #1 £667.95/£162.90
    Save £12k in 2025 #1 £12000/£7000
  • crunch_time
    crunch_time Posts: 1,353 Forumite
    We have £2400 in an emergency fund. What I mean is Dave Ramsey would say to keep it at £1k and put £1400 to pay off some debt then chuck everything extra at the debt. We are choosing to keep saving at £200 a month regardless of debt at the moment. I know die hard debt busters will criticise that but not doing that in the past has contributed to our situation now

    We are only paying the minimum payments on the credit cards at the moment until the holiday is saved for then we can tackle the debt. From sept 2019 if I am earning full time I will earn £2000 a month. Minus child care this is about £1500 a month which can literally be chucked at the debt.

    That is why I am looking ahead to Nov 2020 with confidence and considering our next steps after debt pay off.

    The £18k of debt accumulated over 18 month is as follows

    £1k ish of holidays that weee taken in 2017 and to be paid off before we decided to move and we had to divert money towards moving.
    £450 - mortgage fee - moving costs
    £750 new mattress
    £2500 - course fees - feel guilty about
    £2500 - house stuff - boards for loft, turf, bathroom floor boards. Essential stuff just to live in this house
    £870 vets fees from when my cat died last summer and my insurance refused to pay out
    £1500 left of overspending in 2016 (husbands relationship with credit card
    £1500 left from over spending in 2017 before we moved.

    The rest is for balancing the budget in 2018 due to some unexpected situations like having to repay £3000 of tax as husband didn’t calculate his expenses correctly so we had to repay that out of money left over from the move and theft or use credit cards to pay for house stuff which was move than we anticipated.

    HMRC then demanded £1000 of child benefit back which we had to find.

    We knew we could afford the mortgage in the bigger house but didn’t anticipate the increase in bills despite doing online calculations. An extra £200 a month.

    Also a lot of the debt has been racked up by the husband just not being involved in any money decisions and not keeping an eye on the ball and just popping things on credit cards thinking we could afford them. Organisation issues rather than overspending issues.

    All of this debt is literally due to me trying to change my circumstances to make me happy so my family will be happy which I now know is not the way to do things. I haven’t overspent in traets for myself. I have holes in my boots and am desperately in need of a new coat. I can’t remember the last time I went out with my friends. Probably last summer actually.

    So it looks frivolous but it’s not.

    Crunchy xx
    19/8/19 vs now Current Total debt £14,188 Savings £2757
    Overdraft £1600 vs £1050
    HSBC1 £1900 vs £3868
    HSBC2 £4100 vs £3730
    Virgin 1 £3050 vs £2800
    House stuff and improvements £4460 Virgin 2 £2740
  • Good idea to give yourself time to think things over. Have you taught full time whilst having a young family before or been part time while your children have been very young?
    paydbx2025 #26 £890/£5000 . Mortgage start £148k June 23 - now £138k.
    2025 savings challenge £0/£2000
    EF £140. Savings 2 £30.00. 17
  • crunch_time
    crunch_time Posts: 1,353 Forumite
    Good idea to give yourself time to think things over. Have you taught full time whilst having a young family before or been part time while your children have been very young?

    I haven’t been full time for nearly 7 years now but I’m starting to get fed up with doing job shares and having to plan for lessons I won’t teach and download what’s in my head to the other person.

    I know it won’t be a walk in the park but the small sacrifices will be worth it I think. But yes I am mulling a lot of things over at the moment. With a fresh pair of eyes considering all I learned last year.

    Long term I want to do a masters and then move into research once my children are older.

    I’m planning my career with my children in mind

    Crunchy x
    19/8/19 vs now Current Total debt £14,188 Savings £2757
    Overdraft £1600 vs £1050
    HSBC1 £1900 vs £3868
    HSBC2 £4100 vs £3730
    Virgin 1 £3050 vs £2800
    House stuff and improvements £4460 Virgin 2 £2740
  • Honeysucklelou2
    Honeysucklelou2 Posts: 4,804 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper
    edited 26 January 2019 at 2:01PM
    Its good that you can have chance to build up to 4 days and then 5. I currently do 4 days but did full time before I had my youngest. Juggling family and full time takes a lot of organisation!

    Great long term plans.
    paydbx2025 #26 £890/£5000 . Mortgage start £148k June 23 - now £138k.
    2025 savings challenge £0/£2000
    EF £140. Savings 2 £30.00. 17
  • Being sensible is the only thing that you can do. You sound like you are doing what you think is right for you as a family. You have had quite a few unexpected things, and they just seem to drain you, don't they? x
    September 2017 Debt = £25330

    Starting afresh.

    You can do anything if you put your mind to it. x
  • You're very organised and hard working.... definitely don't feel bad that the business idea didn't pay off, you can only do what you feel is right at the time. I do the same, constantly plot and plan, I end up giving myself a headache. My husband always jokes that he never has to worry about anything as I worry enough for the both of us.... a classic overthinker!

    Is it primary age you teach? I'm not enjoying radiography at all anymore, I'm a registered childminder too, so I'm thinking of doing that for the next few years and then when I don't need childcare anymore (8 years), going back to uni and doing a PGCE and becoming a teacher. I'd be 48 by then though and I'm not sure if that's a bit old! See, overthinking again :rotfl:
    DFD March 2025 (£35000 paid off)
    FFEF £10000/20000 saved
  • crunch_time
    crunch_time Posts: 1,353 Forumite
    You're very organised and hard working.... definitely don't feel bad that the business idea didn't pay off, you can only do what you feel is right at the time. I do the same, constantly plot and plan, I end up giving myself a headache. My husband always jokes that he never has to worry about anything as I worry enough for the both of us.... a classic overthinker!

    Is it primary age you teach? I'm not enjoying radiography at all anymore, I'm a registered childminder too, so I'm thinking of doing that for the next few years and then when I don't need childcare anymore (8 years), going back to uni and doing a PGCE and becoming a teacher. I'd be 48 by then though and I'm not sure if that's a bit old! See, overthinking again :rotfl:

    Yes primary age - KS1.

    Glad to see another plotter and planner. I tell my husband Im just trying to live my best life!! Ha Ha!
    19/8/19 vs now Current Total debt £14,188 Savings £2757
    Overdraft £1600 vs £1050
    HSBC1 £1900 vs £3868
    HSBC2 £4100 vs £3730
    Virgin 1 £3050 vs £2800
    House stuff and improvements £4460 Virgin 2 £2740
  • crunch_time
    crunch_time Posts: 1,353 Forumite
    Afternoon all

    DS has a play date so I'm sitting in the kitchen refereeing all the running around and jumping that seems to be going on whilst waiting for the lasagne to cook. Husband is off work with 'man flu' and I have had a mildly productive day.

    I organised travel insurance last night (£48) and started applied for the children's passports (£98) so just mine to go. I need to take a selfie with my phone but my face has erupted with spots so I shall wait a few days until they have calmed down! Ha Ha!!

    We have been reflecting on our YNAB experience so far and transferring money around has been a real ball ache so we have decided that husband will get up and go to the shops first thing every Saturday rather than me doing it during the week. Then it will come out of his account and that one only. He's quite good at sticking to a list and I've been nagging him to get involved for ages so this is a good thing.

    All good stuff.

    Crunchy x
    19/8/19 vs now Current Total debt £14,188 Savings £2757
    Overdraft £1600 vs £1050
    HSBC1 £1900 vs £3868
    HSBC2 £4100 vs £3730
    Virgin 1 £3050 vs £2800
    House stuff and improvements £4460 Virgin 2 £2740
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