Single Mum Losing the Debt! 29 December 2018 at 1:46PM in Debt free diaries 52 replies 5.9K views

chocolatelover93

Hello!

I have done a diary on here before but couldn't find it so thought I would start 2019 (almost) with a fresh one!

So a little bit about me....
I am 25 years old and live with my son in a rented house, I become a single mum 2 years ago when my son was 3 weeks old. He still sees his dad a few times a week and does have overnight visits too. I want my son to have a good relationship with both his parents and his dad helps me out if I need it.

Over the last year I have managed to wrack up £3027.61 in debt (it was more like £4/£5K but I have paid some of it back).

Last week I decided to do a spreadsheet using my bank accounts of everything I have spent on bills, shopping etc. (this wasn't 100% accurate because I had no receipts for cash transactions but gave me a rough idea of what I have been spending). I took one look and was so ashamed of myself!

I started decluttering the house a few months ago but have since decided that I am going to tidy and clear out one draw/cupboard/shelf a day and post at least one thing on FB marketplace a week or give to CS so I can get rid of some of the clutter in my house.

Any money that I get extra will be put in a money box for my CC debt and once a month or once every few months empty it out and take it to the bank the quicker I can pay off the CC the better.

C xx

chocolatelover93

Good morning!

NYE today (although really doesn't feel like it) I am at work until 4.00 then off until Friday so that gives me a few days to do some bits around the house.

Have set budgets for weekly and monthly spending and have got a dairy that I will keep track of everything in. As today is Monday the diary starts today.

I didn't bring any lunch with me to work so I will be buying some lunch and my mum needs me to pick up a few bits for her.

I have done a meal plan to last until Thursday (when I do food shopping) so I can stop from buying extras.

Mum is cooking a curry tonight for dinner so that is one free meal. Tomorrow is the last day before I start SW again so I am going to try and eat all the carp I have in, if I don't then my son can have it in his treat box (but less temptation for me if it is all gone).

I have also decided that I am going to start growing some of my own fruit and veg this year. I think it'll be good for me ans my son, to give us something to do and be good for him to see where his food comes from.

I am determined to be debt free by this time next year and starting a savings pot rather than clearing off debt!

Happy new year everyone!!

C xx

beanielou

Only £27.62 until you are down into the next 1000 :j :j
Happy shiny new diary.You can do this

chocolatelover93

beanielou wrote: »

Only £27.62 until you are down into the next 1000 :j :j
Happy shiny new diary.You can do this

Thank you! Never thought of it like that!
xx

Mum_and_Wife

Good luck, you've got this x

chocolatelover93

Hello!!

So didn't start the new year off to a great start was at the hospital with my son as he has got an ear infection (on going for over a month!) and now tonsillitis! Seems to have been a lot of back and forth the last month or so, this is antibiotics number 5 so I am hoping that these will work for him as the only other option is a drip

Have made a spreadsheet every time I buy something. I have only got a few bits so far, lunch at work and a few presents for birthdays and xmas this year. All got in the sale and have already been allocated to people and written on my gift list.

C xx

WannabeFree

Good luck and Happy new year

Hope DS is feeling better soon

x

chocolatelover93

Good morning!

So it's been a couple of weeks. I have spent more on my CC but I now have a FULL freezer and cupboards and a full car. I have allocated my money into different coinbags in my purse and taken my cards out!

Once a month when I get paid (28th) I will go into the bank and get out the money I need for my budgets for the month ahead and will put them in each coin bag.

My budgets are set per month to:
£217 - pay off CC
£175 - Food Shopping
£130 - Fuel/Car
£20 - Presents/Birthday
£10 - Hair cuts
£10 - Days out
£10 - Takeaway
£20 - SW
£10 - Clothes

My other bills are all DD and standing orders that come out of my account. I have also decided when my car insurance is due for renewal to pay that on my 0% CC but still pay a set monthly amount back into the CC so basically I will be overpaying as you pay extra to have a DD with insurance. I might do the same for my home insurance as well but not sure if it will be worth while as that is only about £100 a year but still worth looking at!

Once I get to target at SW (aiming for end of August this year) I will be saving £20 a month which I will then use to pay off CC.
I am paying £23 a month for my sofa, that finishes in July so once I have paid that off that will go to the CC as well. So by Xmas this year I should be debt free I am also doing the 365 penny a day challenge, have not yet decided if I am going to use that money to pay of CC, for a holiday for me and DS or xmas presents. I will see when I get there

So watch this space....

C xx

beanielou

All looking good

chocolatelover93

beanielou wrote: »

All looking good

Thank you

ImpulseSpender

Good luck! I'll be following along on your journey. Looks like you're already taking positive steps this year and got a plan in place.