Single Mum Losing the Debt!

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

  • 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
    83K Posts
    Part of the Furniture 10,000 Posts Mortgage-free Glee! Name Dropper
    Forumite
    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.***
  • 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 :)
  • Mum_and_WifeMum_and_Wife Forumite
    12 Posts
    Fourth Anniversary 10 Posts
    Forumite
    Good luck, you've got this x
  • 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 :)
  • 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.”
  • 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
    83K Posts
    Part of the Furniture 10,000 Posts Mortgage-free Glee! Name Dropper
    Forumite
    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.***
  • beanielou wrote: »
    All looking good :)

    Thank you :D
    Read my diaryHere :)
  • ImpulseSpenderImpulseSpender Forumite
    195 Posts
    100 Posts Second Anniversary Name Dropper
    Forumite
    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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