Choccy's last debt diary! Tme to stop messing and focus.

Choccygirl123

Really need to find my focus again...it's the sand old story. I've been budgeting, four planing and using my saving pots but feel like we're wasting so much money. Too many Amazon  delivers and takeaways. I've managed to slip (onkly just) into our overdraft at the end of July & Aug so things need to change!

I've prepped my worksheet and have moved all the cash across into each of the saving pots. 

Food has been a main area of spending over summer, so I've meal planned and set my budget to £100 a week. Trip to aldi £71.39 and £12 tesco this morning, £8.68 in coop leaves very little in the shopping wallet. However, that's a good thing! We need to stop the daily trios to coop for snacks as we all could do with losing some weight!

will update loan totals in day or 2 once payments cleared off balance. Total debt outstanding today before this months payments or over payment is £13557.86. Ive sent an overpayment of £90 to my loan and with the normal repayment that wil be under 6k in few days. 

I've taken few extra hours at work which should increase my income by approx £225 every month. The plan is to send the xtra straight to my loan. This will mean we're clearing £340 in total a month min, which should help see that total drop quicker. I'm concentrating on mine as it's the smallest debt, but interest rate slightly higher. 

teafor2

Hi CG I find money hard to keep on top of during the summer holidays. A bit here for this, that and the other soon mounts up. The extra hours and an extra £225 of your loan every month is great. x

Choccygirl123

Lovely to hear from you again tea. Summer holidays can definitely run away with your cash. I've been conscious about the amount we're spending, so have tried to save cash when I can. Taking snacks and drinks out with the teenagers, rather than trips to mcds etc. It has helped a lot with limiting the damage.

Both the teenagers have got little jobs now and and babysit for few local families. They've done really well earning astound £300 each over summer and they've saved every penny.

I feel better now budget in place a d hubby seems 100% on board. He took something back yesterday and got £10 cash refund which he put in the shopping pot. Normally he just keep it in his wallet so there's a definite shift. He's also reminded his mate he owes us £45 from a hotel booking hubby booked for them to share a room. I know he'll pay it back, but he's never in a rush. He normally gives it back on the day and it disappears into hubby's wallet. 

The teenagers are back to schooland 6th form on Monday, so it's their last day of freedom. I'm going to book a cinema trip as a treat tonight, out of our misc budget this month.  There's a 5:30, 7 or 8 start. Going to for 7 so we can eat at home rather than grabbing something in town. Will nip to coop a d buy couple of bags of sweets so won't need to buy anything there. 

teafor2

Morning I'm on a countdown now to DS going back in on Friday, although he's not well so I'm not sure that's actually going to happen!

It certainly helps when the other half is on board with a money saving scheme. Great that the DC's have jobs and they've saved so much. DD is a spender but DS likes to save although he'll occasionally have a splurge on an Xbox game but he thinks twice now it's him that's paying for it lol. 

Hope you all enjoyed the cinema. Have a great day. x

Choccygirl123

With yet another year coming to the close, I am determined we will finally be debt free. Hubby is leaving his current job to start a whole new career this year, so a new adventure begins. He will get a small rise and his military pension, so we will be better off financially. I need to keep track use use the extra to pay off the debt abd start saving properly.  

Our debt is currently £12500ish over 2 loans, with no overdrafts and no store cards. We do have 2 mortgages on our home and an investment BTL. They tick over without any issue but i long for the day we can over pay.

I've kept losing motivation, but know posting regularly is the secret to keeping on track. We've not added to our debts, but equally we've not maximised the spare to pay off debts. 

We do have savings pots in place, which are great for budgeting help. I've stopped using the overdraft and this does help focus spending towards pay day. It's just the general day to say motivation to keep over paying. It's too easy to pay only regular payments. 

will update loan figures tomorrow after I've set our spending budget for January. Choc you is back again with more motivation for 2022!

Choccygirl123

Debt Totals - today's outstanding balances

Loans

Mine - £5770.61 (£115.90 per month)

Hubbies - £6632.17 (£179.24 per month)

Total - £12402.78

Mortgages

Home Fixed 5years £28518.93 (338.96 per month repayment)

BTL Fixed until 31/12023  £91296.60  (£482.35)

Total - £119815.53

Overpaying the mortgages are a goal, but not until we finally get rid of the loans. I've checked the rates and they're both pretty low. I did look at doing a 0% transfer, but with the fees I'm not keen. My plan is to overpay mine first, as it's slightly higher % and it's the smaller amount. I'm going to spend an hour updating and planning our budget for Jan inc overpaying and topping up the savings pots. Once that is sorted I'm going to ping the overpayment straight over.

beanielou

Looking good.

Choccygirl123

beanielou said:

Looking good.

Thanks beanielou.....i'm still here and still trying to get rid of the debt.

Nothing much to report today, but I did have a good low spend day. I dropped £4 into my friend's house for a charity raffle, she'd organised. I didn't win anything, but happy it was supporting her and a great cause.

The christmas bread had nearly gone, so nipped to grab a new loaf and some carrots for leftover soup. I made a turkey stock on Christmas day and froze it - ready for a lazy dinner. I think we're all feeling blurgh, after too much rich food and I'm not in the mood for cooking. Defrosted the stock threw 1/2 the carrots and a random onion for soup tonight. Will be a late dinner, after I collect the eldest teenager. She's been working today 10-7, so expect she'll want feeding and then go to sleep.

Counting down until hubby paid. In prep for pay-day I moved 3/4 of the pot savings acrossed from our joint account. Pots looking good, apart from the dog's which needs building up again. He's due his next jab (£50 once per month) He does have insurance, so I normally pay for 6 jabs at a time and then the vet puts the claim in for me. Have budgeted to pay it all from hubby's wages this month, but will need to get the fund built up for June when the next £300ish due. The claim will pay out around £115 after the excess for this new year of insurance. Will pop that straight back in the pot when it arrives in the next couple of months.

Choccygirl123

I love this bit between Christmas and NEw Year where no one knows which day it is and the knowledge thta a brand new year is just around the corner. Motivation is strong again this morning and i've been lookingat freezer and fridge stocks. Dropped the eldest off at work and picked up a large lamb and pork joint for the frezzer. £7 for both instead of £23, who doesn't love  a yellow sticker. Grabbed a bake your own pack of rolls, as they're great with homemade soup over next few days when I use up the last of the xmas veg.

Making shepherd's pie for dinner with mince from the freezer. We seemed to have a glut of milk so rice pudding going in too.

Going to take a trip to the local garden centre with the youngest in faint hope I can find an amarylis bulb in the sale. I've got some christmas money to spend, so won't be out of my jan house budget. Hubby happy in front of tv with the dog, so it should be a cheap day.

Choccygirl123

Yesterday I managed to spend very little at garden centre out of my xmas cash - £9 in total which is a festive miracle. 2 cheapie cushions and some cocktail stirrers. There were lots of things i could have bought, but was so good.

Today's spending has been £11.95 for coop curry and naan's and some cold meat. There's only 3 of us for dinner and hubby mentioned a curry - we're still trying to make sensible swaps. The curry was lovely and I don't been completed bloated is a bonus. Even with the cold meat for sandwiches tomorrow, we've saved £20. We took the dog to a nearby village for a change of scenery and took a hot flask of coffee and 3 x homemade cornish pasties (left over bought pastry and frozen pasty mix from freezer I made yesterday) Had a lovely 1.5hour with the youngest in the fresh air and only cost the petrol.

Will need to fill the car up tonight when I collect the eldest later. Will always fil it to fill this time of the month and there's enough cash to cover that tonight. Hubby is paid tomorrow and then we'll see all the direct debit's flying out. The dog needs his jab soon so have budgeted for that, which means there's not a lot of spare this month. I've budgeted a spare £100, so have just sent it to overpay my loan. According to the Halifax calculator it shortends the loan by 1 month and will save me £31 in interest and 56 payments left. I'd love to pay more, but need to keep to the realistic budget. If we're good with the fuel, misc and fuel there will hopefully be a little more to send too.