CreditCardJunkie's back again...

Skint_yet_Again

Hi CreditCardJunkie I usually just lurk on this board but just wanted to say well done on all you have achieved with your debt especially with a new baby. :T

If I understand it correctly you may not have to report self employment to HMRC if it's under £1000 a year. May be worth asking the tax board

https://www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income#trade

Good luck on getting rid of those debts. You can do it !

CreditCardJunkie

Thank you skint yet again!

Trying my best to get out of the house. I had around £70 of spends left over this month so decided to treat myself to some new clothes. I'm still wearing maternity clothes which are too big (and making me feel like sh**) because all my normal clothes are still much too small.

Only got a couple of things but should tie me over until I (hopefully) lose some weight. Had baby with me and she slept through the entire shopping trip.

My self esteem has taken a real battering post pregnancy and my hormones are still all over the place (6 weeks postpartum). Hopefully this will all settle soon. I need to pick myself up and give myself a shake.

CreditCardJunkie

Feeling much better than previously. Gosh hormones are a scary thing, something ive never experienced befoee.

Reporting in almost halfway through the month, all spends within budget with the exception of £84 to Debenhams which I'll pay off on payday - got a few Christmas bits on offer.

Also had an unexpected vet bill for the dog but thankfully DH covered that one.

Done a few mystery shops at the start of the month so have £37 coming at the end of the month towards some bits for Christmas. Really enjoy mystery shopping, not a pile of money in it but it gets me out of the house and I enjoy doing it! Also going into work for a few hours this week (dreading it) which will get me an extra couple of pounds! First time I'll have left baby for a significant amount of time!

Haven't managed to walk anywhere or save any money on food shopping yet, think the first while with a new baby is all about survival! I am getting out of the house a little more though!

Opened a Monzo account which I might start using pots within at the start of next month.

enthusiasticsaver

Your finances aren't joint, they are separate and as Mnd says this is difficult after you have children. We always did joint finances where all income and expenditure comes out of the same pot and we each have the same amount of personal money. As you say you are left with very little spending money although to be fair you spend a lot on your horse which presumably is yours alone?

I would cut the credit cards up as you cannot afford to spend on them. I certainly would not use one for everyday spending when your budget is as tight as yours.

Good luck on sticking to your budget while on maternity leave. You have made a good start. What do you intend doing re childcare when you go back to work next May?

CreditCardJunkie

Yes the horse is mine alone, DH and I did sit down after I worked out my SOA and I now pay less in so that we have an equal amount to spend each month (starting at the end of this month so will need to do another soa). It's complicated because we both have separate direct debits coming from out individual accounts. Also DH has a rather expensive car which he's a year left to pay and spends a bucket load on petrol every month, which I don't want coming out of my pocket for a luxury that he decides to have (in the same way I don't expect him to pay for my horse or any associated vet bills etc).

Individual finances has always worked well for us, it's just my reduction in income is something we've obviously never had to deal with before. Probably my previous post was very harsh on him, he is very good to me and always pays for meals out cinema etc.

We're lucky that my dad and mother in law are both retired and are more than happy to cover the childcare when I go back to work!

enthusiasticsaver

Ok well there are some positives in your last post in that you and your DH talked about how to cope with the next 9 months of reduced income and have come up with a solution.

You don't have masses of debt but I think you said money tends to disappear and from some of your posts that is evident too so it might be a good idea to get much more disciplined about where the money goes so you can get rid of the credit card and stop you relying on it when you can't afford something and build up some savings which are a must when you have a house, a car, a horse and a baby. There are a lot of drains on your finances and you earn a lower than average wage. Are you part time?

On your payday I would put money away in savings and pay your credit card and leave enough in your account to cover your essential outgoings. The money for groceries, fun money, fuel money keep separately either in a Monzo account or in cash if you prefer. The money for your horse should be kept separately and try and build up a buffer for vet bills etc. That will get you used to doing without credit as maternity leaves seem to be a common reason for building up debt on here. To gain financial security for your little girl the best way to do this is avoid debt like the plague. If you have to take it out for a large asset like a car, home improvements (never holidays) then do it in the cheapest and most cost effective way you can which you appear to have done with your current car.

Great your Dad and MIL have offered to cover childcare but as an early retiree who looks after my 2 DGDs one day a week you may need to be prepared for one of them to find it too much as some of my friends have who have offered masses of childcare before the baby is born and forgetting how hard it is to have a little one. Good you have two options though but it might be worth factoring in some childcare costs until your little one gets to 3 and gets free hours. Check out the tax free childcare scheme for under 3s and if your dad and MIL are short of NI contributions for their state pension if they retired early one of them can claim NI credits as a grandparent as I am doing to build up their contributions.

Good luck and congratulations on your new baby.

CreditCardJunkie

Thanks enthusiastic! I think I will start using my Monzo account when I get paid again. Funny I had worried about LO being a bit much for them, however they're both in their early 50s so hopefully won't be a problem! I must look into the NI bit, my dad wouldn't be short but MIL might!

I am full time, I live in a low income area so my wages aren't actually bad. I also have a really flexible job which is only 10mins from home. I could commute to the nearest city for an extra few thousand a year but I'd spend a fortune on fuel, parking and a lot of time commuting so I'm happy with my salary.

CreditCardJunkie

Pay day again... debt total down to £1707... Here comes the fun part of trying to pay for Christmas on stat maternity pay!

We've already bought most of what we're getting our gorgeous baby girl, debating whether to say to my friends can we skip the gifts this year as things are pretty tight for me. A close relative has a big birthday in January also.

I've been out walking a little more but want to ramp it up a bit. I still have a fair bit of pelvic pain so I need to be wary of this. I bought a magnetic meal planner and have stuck it to the fridge and have set out a meal plan for the week ahead.

Going out for a friend's birthday tomorrow night and am aiming to have predrinks and buy only 2 drinks when we're out.

NOVEMBER AIMS

1. Lose more weight (I would love love love to be back at my pre baby weight by Christmas, I've another 12lbs to go so probably not possible but that would be amazing).

2. Meal plan and stick to it.

3. Budget carefully for Christmas.

CreditCardJunkie

Payday and usual payment brings BC to £1650.

I have added £235 to my other card to cover Christmas presents. I have some extra money coming in from a KIT day and benefit from 5 weeks maternity pay instead of 4 on my next wage so as long as I don't go over budget between now and then it'll all be paid off when the next statement comes in.

As per usual I've been invited to quite a few festivities, so I'm setting my aim for this month to not go over my budget for these.

CreditCardJunkie

Have just updated my spreadsheet this evening and I'm really pleased with my progress on the budget. Looking back to when I started (again) in may this year my spending is totally in control (and very minimal).

Although I used my credit card to cover some Christmas presents, it will be paid off in full when I get paid again. Although not ideal, it was planned and I knew where the money was coming from to pay them back.

DH and I were out for some festivities last night and thoroughly enjoyed our evening, staying well within our budget. I was very pleased with myself buying a frozen pizza at £2.49 in the shop on the way home instead of a £15+ dominoes.

I have a few more KIT days planned with work so hopefully that'll give my finances a little boost too.

Really enjoying our little one, feeling very
positive and strong minded at the moment!