Single Mum Losing the Debt!

edited 30 November -1 at 1:00AM in Debt Free Diaries
52 replies 5.8K views
chocolatelover93chocolatelover93 Forumite
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edited 30 November -1 at 1:00AM in Debt Free Diaries
Hello!

I have done a diary on here before but couldn't find it :o 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
Read my diaryHere :)
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Replies

  • chocolatelover93chocolatelover93 Forumite
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    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 :D 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
    Read my diaryHere :)
  • beanieloubeanielou Forumite
    77.1K Posts
    Part of the Furniture 10,000 Posts Mortgage-free Glee! Name Dropper
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    Only £27.62 until you are down into the next 1000 :j :j
    Happy shiny new diary.You can do this :)
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    MFW. Finally mortgage free February 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • chocolatelover93chocolatelover93 Forumite
    1K Posts
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    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
    Read my diaryHere :)
  • Good luck, you've got this x
  • chocolatelover93chocolatelover93 Forumite
    1K Posts
    Seventh Anniversary Combo Breaker
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    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
    Read my diaryHere :)
  • WannabeFreeWannabeFree Forumite
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    1,000 Posts Third Anniversary Name Dropper Photogenic
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    Good luck and Happy new year :)

    Hope DS is feeling better soon

    x
    “Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the way.”
  • chocolatelover93chocolatelover93 Forumite
    1K Posts
    Seventh Anniversary Combo Breaker
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    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 :D 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
    Read my diaryHere :)
  • beanieloubeanielou Forumite
    77.1K Posts
    Part of the Furniture 10,000 Posts Mortgage-free Glee! Name Dropper
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    All looking good :)
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    MFW. Finally mortgage free February 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • chocolatelover93chocolatelover93 Forumite
    1K Posts
    Seventh Anniversary Combo Breaker
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    beanielou wrote: »
    All looking good :)

    Thank you :D
    Read my diaryHere :)
  • ImpulseSpenderImpulseSpender Forumite
    195 Posts
    100 Posts Second Anniversary Name Dropper
    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.
    August 2019 - Debt £8000
    June 2020 - Debt £190.96
    Saving Pots: House Fund: £2015.21 Holiday Pot: £327.31 Rainy Day Fund: £964.84 Sod it/Treat Fund: £12.06
    Stocks and Shares ISA: £189.65
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