Working Hard Debt Diary - Here goes

firesidemaid

hi there

have just read your diary after replying to your post on the mortgage board. really inspiring - it seems like we all take time after our LBMs to actually get to the point where we start paying off with a venegence.

i have approx 6k on a LOB 1.9% annual rate (long story, their mistake) and 2k on 0%.

my main challenge and biggest debt is my mortgage and i am overpaying on this as it is my biggest and most costly debt @ 5.39%.

it seems like you have already taken on board so many mse ideas. one thing i also do is to use money-off coupons to help reduce my food bills. there is a great tesco discussion thread on this site - they and asda will take any money-off coupons as long as they sell the item, but you don't have to buy it. asda take 10% of your bill and tescos will take more. i have sent you a pm re. this - hope you don't mind.

also, as long as the credit cards you are paying off using the mortgage money are higher than the mortgage rate then it will probably save you in the end. x

WorkingHardDFW

Thanks for that sazzacat appreciate you taking the time.

I think the biggest issue that came from our LBM was identifying where we were going wrong. Over the years we'd fixed particular problems but we'd never really got down to not spending more than we earned. When I think back we'd buy things and not think about how we were going to pay them off the CC - well now we are and however long haul it feels at times we are paying them off.

Thanks for the PM about the coupons - I will have a look into that since for a family of five our shopping bill can always have room for improvement.

Finally reduced the sky yesterday. I got OH finally to agree last month but he has been procrastinating with actually making the call - its in his name. We were both at home yesterday so I made the call and we're down to paying £21 per month until our BT broadband deal ends in May and then we'll switch over to Sky/Talk/Surf which will be cheaper.

Moving nearer to my DFD!!

chevalier

Well done, not so much on the falling debt (though that is good too), but recognising that your attitude to money had to change as well.
chev

WorkingHardDFW

Yes you are right chevalier about the attitude to money.

Now we are MSE DFW's we really watch every penny. Its not easy changing the habbits of a while doesn't come easy. We've not been out this year and we've turned down countless invites this month because we've committed to one night out and any more would be too expensive.

The budgets are tight (£180pa for family of five for clothes) even allowing for OH and I not to buy other than essential items that doesn't give much room for 3 growing children - even with handme downs and sale purchases. I had to buy DS 2 pairs of school trousers and a set of school shirts last month and DD needed new school shoes (luckily in laws came to the rescue there) but even on uniform alone it was two months budget gone.

Getting debt free is certianly not easy.................:cool:

As our debts reduce the breathing space in the budget will increase. Obviously main plan is to reduce outgoings as much as possible and increase income likewise. Everything else gets thrown at debts.

waddy80

Can I just say - Great diary. I've had a few LBM (after a few months I seem to forget!), It really has spurred me on to look at my situation xx

WorkingHardDFW

Thanks for that comment. Its just my journey and I do feel that I ramble sometimes.

Feeling pretty down tonight and for the last couple of days to be truthful. I shouldn't I know but sometimes it just gets you. I'm very impatient and want to change things here and now! Reflecting on thats its probably mine and OH impatience which got us to here .

I had a job interview (2nd interview) last week and was expecting to hear by the end of this week. When I hadn't heard by the close of play today I took the bull by the horn and rang the manager concerned. She apologised and said that she get back to me early next week - doesn't sound good. So I am expecting a no. At the start of the week i was very upbeat about it but as the week has gone on I reminded that me going FT and earning a large % more will have such an impact on the Debt as well as family life.

I read a cracking thread on here a while ago about effort against reward (or something like that). IE doing all the quidco, daily clicks etc etc should be balanced against say doing a few hours overtime. Taking this a step further it made me think new job (youngest DS starting school in Sept) extra money - good thing. Now I want it to happen...................

Trivial I know but these things do get you down.

I need to focus and get myself organised.

Got the papers from the B/soc for the four month mortgage holiday today. OH and I need to consider over the weekend and make a decision. Let you know on Monday but it won't take effect until 4/08 at the earliest.

Working extra tomorrow helping another dept out. Its at a much lower rate of pay than my usual but its double time so 10 hours pay all to go towards the debt.

Thats it I think my ramble is nearing its end. As usual I feel better having shared it with my DFW friends. Its funny no one apart from OH and I know about our situation. Makes you wonder why do we hide it..........one to ponder for another day.

got-it-spend-it

I just wanted to say thanks for all your posts. I've found it really motivational reading about your journey, and I totally relate to it all.

I too would never dream of telling friends or family what the state of our finances are- silly really I suppose!

OH and I have treated ourselves tonight- chips and a bottle of wine. Cost less than £10 but in these DFW it feels like such a treat!

Enjoy your weekend.

GISI x

WorkingHardDFW

Feeling very positive today.

I had a lovely mothers day weekend which was very DFW and much better for it! Told my OH not to spend any money or buy any cards since the kids all make cards at school or nursery. The cards I got were fantastic.

Whilst I was at work on Saturday OH make a lot of biscuits with the children which were my mothers day gift. What a great idea and really lovely. The kids and OH had great fun making them and the kids faces when they gave them too me:T - money can't buy that:D

I bought a card and small present (<£10) for my Mum and mother in law and they were pleased with that. We also invited them all to lunch so nice day all round.

Not heard from the job but as I said in my post on Friday I'm not expecting a positive so I will move on.

One thing sold on ebay - few didn't but I will relist them. Lots of things still listing so fingers crossed a few will sell.

Its going to be good positive week this week;)

WorkingHardDFW

No news on the job front - very frustrating :mad: . I wish people would understand that when you invest the best part of two days being interviewed to have an outcome either way would be appreciated.......

Some stuff went on ebay which is good - £60 - to throw at the CC:p

Paid £1400 of the target CC so that should be down to £900 for next month before the other bits come through - car tax refund, insurance refund, quidco etc. Might just make the clear a debt by April challenge.

Nothing much more to post just the same old slowly slowly these debts of ours are coming down.

beanielou

AS you say an outcome either wy would be great.Frustrating or what?