2020 - Clearing the debt the start of our journey to FIRE

Savingtomove

Curry was a big success and I got 7 portions out of it!!
Right we have done the payday shuffle and here are at the totals
Family loan:  - 23,217.46/0
Personal loan: -21,000/0
Car loan: -320/320 - PAID!!
Credit Card: -£5901.97/101.97
Emergency fund: £2000/2000
Wage in business: Up to July
TOTAL (taking emergency fund off) MARCH - £48,439.43 
NEW TOTAL for APRIL - £48,017.46
PAID OFF - £421.97

Savingtomove

We have also paid £365 off the personal loan but I don't include it as I have no idea where we are at with it!  I have applied for a online account but it hasn't worked so I need to get in touch with them!

STM x

savingholmes

Well done on the debt clearance. Another month where your money has gone in the right direction

Savingtomove

savingholmes said:

Well done on the debt clearance. Another month where your money has gone in the right direction

Thanks savingholmes!  Its hard to see the progress sometimes it feels a little slow!

Savingtomove

So everything has been a bit like ground hog day in the STM household.  We are lucky because we are both still working but it has been very challenging having a 1 and 3 year old at home and trying to get the hours in.  I have been working most evenings and weekends and taking on as much contract work as I can manage to help the debt situation and keep my self employed work on track.

I have also managed to gain half a stone which is awful because I had 4 stone to loose so that is now 4.5 stone.  I'm finding lock down a challenge psychologically and struggling to motivate myself to do anything.  Does anyone else get frustrated at being up happy with the same things but unable to change the habits that got you there!!!!
Well I am determined to get the things that annoy me back on track!!
So this week I am going to try and sort something even if tiny in the house and try and get back on track with doing TOMM  I'm also going to get my 10K steps in and stick to my fasting and low carb which was working wonders before lockdown.
So in dept news I have manged to take some extra from the business and get exact totals for the car loan.
Here is a update on the numbers:
Family loan:  - 23,217.46
Personal loan: -22,645.00
Credit Card: -£5800
Emergency fund/savings - £4,724.55
Wage in business: Up to July
TOTAL (taking emergency fund off) April - £48,017.46
NEW TOTAL for May - -£46,937.91
PAID OFF this month- -£1,079.55
This also includes the fact the personal loan is higher than we thought!! We are keeping alot as savings at the moment due to being unsure of what will happen with COVID and I need to work out my tax bill to be paid in 2021.

DancingInTheRain

All heading in the right direction & well done on juggling young children with work commitments in these strange times, it's so hard & definitely takes its toll on you in many ways. I've also gained weight during lockdown 🙁 
Keep going though, you're doing really well in very difficult circumstances x

savingholmes

Well done - your debt is going down, you are juggling lots of challenges - and you are being sensible with your business. All good. Are you doing any self care at the moment? Painting my toe nails gave me a boost last week. My teenage DD dyed my hair for me this week and I felt like a different person. Essential. Is there something you can do that's nice for you too?

Savingtomove

DancingInTheRain said:

All heading in the right direction & well done on juggling young children with work commitments in these strange times, it's so hard & definitely takes its toll on you in many ways. I've also gained weight during lockdown 🙁 
Keep going though, you're doing really well in very difficult circumstances x

Thank you!  Its been tough but there have been some positives.  I have realised what is important and both me and DH have realised that doing stuff and spending doesn't increase your happiness!

savingholmes said:

Well done - your debt is going down, you are juggling lots of challenges - and you are being sensible with your business. All good. Are you doing any self care at the moment? Painting my toe nails gave me a boost last week. My teenage DD dyed my hair for me this week and I felt like a different person. Essential. Is there something you can do that's nice for you too?

Self-care?!! whats that again?  I am trying to introduce somethings this week.  To start with I do want to sort the house a but because it makes me feel rubbish with it being so disorganised and then I want to start doing my 10K steps and a but of crafting so fingers crossed.
So in money saving news we will hopefully be £132 under budget this month which will be off the credit card woopwoop!

In not such good news work has slowed this week!  Im hoping it isnt a sign of things to come!

STM xx

savingholmes

Self care is definitely a priority. I cut my fringe a little this week and got DD to chop and inch off the back. None of its perfect but it will do. She also got a weird facial cleanser thing - electronic with a silicone head which I let her try on my face. I then moisturised and it definitely feels better. The simple things do help.

Savingtomove

savingholmes said:

Self care is definitely a priority. I cut my fringe a little this week and got DD to chop and inch off the back. None of its perfect but it will do. She also got a weird facial cleanser thing - electronic with a silicone head which I let her try on my face. I then moisturised and it definitely feels better. The simple things do help.

Your right savingholmes and I have crashed and burned a bit this week so got my sewing machine out yesterday for a bit of 'me' time and am going to try and make regular time for myself.  We haven't hard it half as bad as most but I am very ready for life to get back to normal!
So here are the scores on the doors:
Family loan:  - 23,217.46
Personal loan: -22,280.00
Credit Card: -£5623.99
Emergency fund/savings - £6,724.55
Wage in business: Up to August
TOTAL (taking emergency fund off) in May - £46,937.91
NEW TOTAL for May - -£44,397.45
PAID OFF this month- -£2,540.46 woop woop!!

I'm thinking of getting on the ebay/selling stuff this month....I have loads of baby clothes and some toys like a smart trike that the kids have never really been into.  So going to clean a few bits up and get them listed.  Anything we sell I will split between the credit card, house maintenance fund and car maintenance fund which are both lower than I would like.
Work stays steady and I am managing to start to build up a buffer in the business account which is great - I have been so lucky to keep it going despite corna.

Hope everyone is keeping well....over and out

STM x