D - 16 Months

Money_mess

Hi there. I'm starting a diary to keep.me on the straight and narrow, lurked the sight for years. gradually got ourselves into masses of debt over the last 10 years, nothing extravagant just really bad budgeting skills....
Since February we have paid off around 6k, one of that was selling a car. Going down to one car has saved a fortune.
It looks like we will go into January having paid off enough to take us under 20k of debt.
I have a long-term plan that will see us debt free in March 2020.
I would love to bring this forward so that we 're debt free at the end of 2019.
We can do it we just need to stick to budget which is not always easy though we are much better now.

will update later with actual figures. I have it all on a spreadsheet but I'm out at the moment.

I'm going to try really hard to update this diary as I go along to keep me on track and motivated.

It's the most expensive time of the year with Xmas and we have our sons birthday but I'm positive we can do it.

doingitanyway

You are brimming with positivity. I hope you do well.

Scott-Weiland

Good look on your journey x

Money_mess

Thank you both for your comments - it's much appreciated!
Debt at highest = £26,994.51 (Feb 2018)
x14 creditors
Current situation :
Total Debt = £20,219.93
x12 creditors.

we have come to agreement with our creditors and have managed to get our creditors to stop interest and charges. I'm pushing Next and Very to default me, so waiting on that.

December will see us clearing two more accounts so we can start 2019 with ten creditors.

I have a long term plan that should see us debt free in March 2020, but I'm hoping for earlier , this should be possible with some overtime and a strict budget.

Today's situation . We are 12 days away from payday. Have 7 bills left to leave our bills account the money is there waiting.
I have £164.05 left in the groceries pot.
Also around a £25 buffer.
DH has a bit left in his account to sort his travel and if he needs any food but we've been quite good at packing lunches.

kids all in school tomorrow so I plan to wrap up the Xmas presents I have and sort out a list of what's needed.
I've made lunches for everyone for tomorrow.
trying to have a no spend week apart form groceries.

Here goes....

NewMummy2018

Good luck, will be following along cheering you :T

Money_mess

11 days until payday.

DH off to work with snacks and lunch from stores to stop him spending apart from his train fare.
Boys off to school with packed lunches - youngest has a free school dinner as in year 1.

Have double checked the bank, was a little out on my calculation last night , I have £150 to last the next 11 days.
Won't need anything besides food and possibly some birthday wrapping paper.

So will be keeping a tight rein on that.

Want to stay out of the shops today, I will need to go tomorrow but I can make do today from stores. In the past I would have gone out to buy something for tea and then lost £30 to Tesco, not anymore. On looking into it I have the ingredients for a creamy mushroom pasta so will make that.
One pork steak left which I will cook up for hubby lunch tomorrow he can take with rice.
Every penny counts right now.

Money_mess

So I've made it through the day without spending a penny. I'm determined to have a low spend week so I've decided that tomorrow I will take £150 cash out and make it last until the 14th which is payday. Anything left in the accounts on payday I will transfer into savings which is basically the beginning of the EF. Tomorrow I need some wrapping paper and a food shop so will visit the card factory and Ald*
In an effort to help I have also uninstalled Amazon app from my phone! no temptations with deals. Will 're install after payday when I'll be finishing the Xmas shopping.

I'm looking forward to cleaning two debts beforenew year. One is a debt that has been on going for about 8 years! was for a cc that was passed to DCA will be fab to see the back of it. it's just around £250. The other is a £100 overdraft on partners Tesco current account. Which he never uses. So will also close the account after paying the money in.
December pay should be good for Overtime payments fingers crossed.
Need to finish shopping on a budget , I am not feeling Christmas this year at all, it just seems like a lot of stress and work and that it just costs a fortune, I know it doesnt have to, and we only buy for the boys and our parents but it all adds up.
But will do it for the boys - Christmas is magical for children.

beanielou

Good start

Money_mess

Ok so we are now 8 days until payday (DH but we share all money as a household and generally I manage it all)

I have £14.80 in my purse and £105 in the bank.
I will call in Aldi today for a few days meals and some fruit. I imagine I will spend about £25. I think I will get £100 out of the bank and just deal in cash now until payday as it keeps me more accountable.
I also need to call to the library today or tomorrow and print some forms so will spend on that but it shouldn't be much.

Still.unable to do next month's budget as need to wait for DH pay slip. I've done out usual budget with his salary and our outgoings which is fine but he thinks he should be getting around £800 extra as he's done so much overtime. So that will just be amazing. Will wait and see so I'm not counting on it

Money_mess

so thought I'd do a list of our debt

Total = £20,218.93.

Overdraft 1 - £91.69
DCA - £276.21
CC 1- £214. 99
These 3 debts will.be paid before new.year!

Loan - £6614.69
Overdraft 2 -£2000
Overdraft 3 - £680
I have a plan that will see the overdrafts gone by June at the latest. The loan will be the last thing to go most likely but after to have got rid of more expensive debts I will come.back to this

store card- £2093.44
catalogue - £3342.14
Credit card 2- £1028.95
Housing benefit overpayment - £451.38
Credit card 3-£2679.03
Curenwtly on payment arrangements with all these as the interest and charges were crippling us. They were all very co operative about it, I'm anticipating defaults. Housing benefit should be repaid by Feb with any luck.

Credit card 4- £731.41.
I was paying these £15 per month, they stopped interest straight away and were helpful. Also defaulted straight away. I can't log on anymore to.pay, I'm assuming it's been sold on so.will wait on that for now

I arranged payment plans with creditors that were crippling me in charges. Very particularly , I will never go near a catalogue again the risk is too much.

I've done my best to set up arrangements with creditors and make a plan to clear the debts, I imagine most will default soon as I'm.not making minimum payments anymore.

Scott-Weiland

Keep going it sounds like your doing well. Stick with your plan.