Crunchy's Final Debt Free Diary!

crunch_time

t2rry wrote: »

Hi Crunchy!


Remember me!? I haven't been on here in so long I've just had the quickest catch up, how much happens in the course of 5 years?! Congrats on the house move!!!

Hi! Yes I do! Are you back on the forum now? How's your little one?

Gosh yes! Thanks for the congrats! Hope you are good!

Crunch x

crunch_time

Evening all!

Just paid £50 off my Virgin card so brought the balance down a little there. Just Husband's virgin cc to go for payments - £100 on the 23rd of July.

I've been thinking a lot about the proportions thing and budgeting like this compared to paying what we already do and then having alternate months of paying off the debt vs home stuff.

We aren't planning such a big holiday next year - a cottage holiday with friends. Husband has a special birthday so we were looking at a weekend abroad for that but already have costs for that so know roughly what could come up.

A lot of what we want to do with the house we just have to take our time with. Husband is being much more patient these days about thing like this. Jury is stll out over the best way to tackle this after the holiday.

At least its great to know that we have paid off nearly £3k so far this year without even actively trying.

Crunch x

t2rry

crunch_time wrote: »

Hi! Yes I do! Are you back on the forum now? How's your little one?

Gosh yes! Thanks for the congrats! Hope you are good!

Crunch x

I am!! And the little one is good thank you, he's enjoying being a big brother!!! :rotfl:


Just one of the many reasons I have been distracted from here!! back on it though with a finish line in sight, thankfully!

crunch_time

t2rry wrote: »

I am!! And the little one is good thank you, he's enjoying being a big brother!!! :rotfl:


Just one of the many reasons I have been distracted from here!! back on it though with a finish line in sight, thankfully!

That’s great!!

crunch_time

Morning diaryland!!

Another weekend gone. I spent just under £100 in Sainsbury’s for food for the week so finally a shop under £100!! We also just went to a fete and got out £20 of cash which we didn’t overspend on.

Husband has set us up with monzo accounts so just waiting for the cards to come through. We had a conversation about money on Saturday morning during which I got incredibly emotional and I’m not really sure why. He is wanting to get involved but I feel sad about relinquishing control after all of these years. Baby steps. Payday next Friday!! Last payment for the holiday balance then the full cost of the holiday is paid off. Only things left on cc will be the trips out when we are there and out travel costs to and from the airport! 4 weeks time and we will be there!!

Already starting to think about the summer holidays and what to do with the kids either side of the holiday that won’t break the bank!

Hope everyone is good!!

Crunch x

crunch_time

Evening all!

I have finally found time to do my updated SOA. This is how things should be from the end of the September.

Monthly Budget Summary Amount(£)

Total monthly income £5,555
Monthly expenses (incl. HP & secured loans) £3,730.12
Available for debt repayments £1,824.88
UNsecured debt repayments £495
Amount left after debt repayments £1,329.88

Personal Balance Sheet Summary Amount(£)
Total Assets (things you own) £369,900
Total Secured & HP Debt -£287,843
Total Unsecured Debt -£28,884
Net Assets £53,173

Household Information
Number of adults in household 2
Number of children in household 2
Number of cars owned 2

Income, Expense, Debt & Asset Details
Income Amount(£)
Monthly income after tax £1355
Partners monthly income £4200
Benefits 0
Other income 0
Total monthly income £5555
Expenses Amount(£)
Mortgage £1136
Secured/HP loan payments 0
Rent 0
Management charge (leasehold property) 0
Council tax £179
Electricity £99 this is on my list of things to look at
Gas 0
Oil 0
Water Rates £25 (we have our own treatment plant which costs £200 a year to empty and service)
Telephone (land line), internet and TV £60
Mobile phone £36 (I'm due a new contract at Christmas)
TV Licence 12.85
Satellite/Cable TV 0
Internet services 0
Groceries etc. £500
Clothing £200
Petrol/diesel £200
Road tax £10.5
Car Insurance £57.35
Car maintenance (including MOT) 0
Car Parking 0
Other travel 0
Childcare/nursery 0 - I know - how lucky am I!!
Other child related expenses £80 - swimming for both children and Karate for one
Medical (prescriptions, dentists, opticians etc.) 0
Pet Insurance/Vet bills £23.18
Buildings Insurance £14.95
Contents Insurance 0
Life Assurance £76.57
Other Insurance 0
Presents (birthday, christmas etc.) 0
Haircuts £38
Entertainment £200
Holiday £500
Emergency Fund £200
Contact lenses 0
Sofa £41
Microsoft £6
Go Daddy £17
Charity Contributions 10
Union fees £7.72
Total monthly expenses £3730.12

Secured & HP Debt Description Debt(£) Monthly(£) APR(%)
Mortgage 287843 (£1136) 1.9
Secured & HP Debt totals £287843 - -
Unsecured Debt Description Debt(£) Monthly(£) APR(%)
Overdraft £1600 18 17.9
Loan £12144 £227 4 (for the car)
Virgin 1 £3100 £50 0
HSBC £3940 £100 0
Virgin 2 £8100 £100 0
Unsecured Debt totals £28884 £495 -
Asset Description Value (£)
Cash £1900
House Value (Gross) £355000
Shares and bonds 0
Car(s) £13000
Other assets (e.g. endowments, jewellery etc) 0
Total Assets £369900



The plan is to get rid of the overdraft first. Then the Virgin 2 card needs to get down to £6530 by the end of November otherwise we will start to get charged interest on a portion of that card. Then we plan to get the HSBC card lowered as that is the one that is costing the most a month.

All this whilst doing house decorating and garden landscaping and of course Christmas and birthday presents. I am also only covering maternity leave at work so at some point might find myself unemployed in the short term. Hopefully will find a new job for after Christmas.

Just 5 more get ups for school and then its the holidays1 Woohoo!

Crunch x

crunch_time

I've been offered some tutoring over the summer. I hadn't really thought about this at all but it might be a way of earning some extra money.

Anybody else out there do it? Do you do it cash in hand?

Crunch x

enthusiasticsaver

A healthy surplus on that soa which is good. Getting rid of that overdraft first definitely sounds sensible if you are being charged 17.9%. Good news on the tutoring if it comes off. I think Nicnak used to do some.

crunch_time

Pay day today!!

Holiday balance paid off!! Woohoo! We are so pleased. I have amended the signature. The last £1000 is the travelling costs.

Also paid another £120 off the HSBC card!

I am sooooo glad it’s friday - hanging on a thread at work and lost the children now. Just got to muddle through now.

Crunchy x

Homegrown0

Your SOA looks really healthy - you've definitely got the flexibility in there to play about with things depending on priorities. Good opportunity on the tutoring - i don't have any advice to offer but given that it's short-term, I'd say it's a good opportunity. When i was at school doing exams (15 years ago?) tutoring was cash in hand but things may have changed haha

Well done on getting the holiday balance paid off - one less thing to focus on now.