Diary of a reformed shopaholic (I hope)

Sarahwithlove

That sounds like a good compromise and hopefully in 6 months time you will see some changes to his offers. Generally you want to aim for utilisation to be under 50% of credit limit that's when you see big improvements. I'm really lucky because mine is all on 0% and will be repaid by end of the period. Good luck and deffo give the calculator a try it really opens your eyes to the amount that goes on interest and how much time in terms of debt free date you can knock off. 

Sarahwithlove

Ps. I'd still be tempted to have the lloyds on minimum payment as in a years time you will be much better off in terms of debt and the interest that will build on barclays and mbna in that time will be more then if you have to do a BT for the lloyds again then. I know it's not ideal but it's all about making the most of your money and having more out towards debt rather than interest. 

Sarahwithlove

[b]Unsecured Debts[/b]

Description....................Debt......Monthly...APR

Next store card................2000......120.......30

Very...........................300.......0.........0

Debenhams cc...................2200......120.......30

Mbna ..........................10000.....250.......25

Loan 2.........................16250.....450.......17

Loan 1.........................15100.....362.......13

Barclays cc his 0%.............5345......120.......0

Barclays cc mine ..............6200......150.......30

Tsb............................970.......30........30[b]

Total unsecured debts..........58365.....1602......-  [/b]

so this is one of your older SOA that lists interest rates. Can I just say OMG on you Barclays, mbna and next. I would really encourage you to do the snowball method. Which is pay minimum on everything that is 0% and then put rest of money towards your high interest cards. I know that the 0 may run out in a year but paying 3/4% at that time to balance transfer to another 0% is way less than paying the 25/3o% on the mbna and Barclays. If you want to focus on his debt then d the mbna first and just put everything you can toward it. Once that has come down significantly you will see a massive improvement in the offers he will get. 

crunchy_time

I found your diary!!  I must say you have done brilliantly to reduce your debts in the space of a few months - bravo!! 

We do have lots in common, especially ‘entitled’ husbands in demanding jobs. I do sympathise with mine sometimes. It can’t be great for ones ego when one earns circa £75k a year and ones wife manages ones money and gives you £100 for clothes and £100 for spends. Mine has come to terms with this now but it was a battle for years - as you will see in my previous diaries.  We finally seem to be finding some sort of middle ground and in some ways he is more frugal than me. Nine years ago, we were low earners with around £30k of debt so we have done well considering we then decided to start a family as well! 

My one piece of advice is to just keep going. Set backs will happen but it’s how you pick yourself up that matters. 

I shall subscribe and be cheering you on!!

crunchy xx

shoppingobsessed2020

Thanks everyone, I’ve been having an email conversation with his lordship and he wants the Lloyds cards gone then transferring chunks from the mbna card.  He’s getting onboard so I’m going with what he wants for the next few months till we know what his long tour bonus and leave buy back is going to be.  Then I can plan properly as I’m conservatively estimating 5k between the 2 at the moment but it could easily be more.  I can’t see if being less so it’s a huge chunk towards his next courses which may need to go on a card depending when things need paying (long tour bonus and work account being used to pay for them) and they are not cheap.  Then the leave buy back will go on paying his car off.  I want his car paid off as it’s one less monthly payment and again it’s clearing something in his name hopefully improving his credit rating and opening up more 0% offers although until a huge chunk is cleared from his mbna card I can’t see that happening.

We had our mega argument over the cars via email and he’s agreed he won’t trade his in but I now have to promise I won’t trade mine in again for at least 3years once I’ve got this “new” one.  Happy to do so but I get antsy and generally I get a new or new to me car every 18months.  I’ve had this one the longest (2.5yrs) so 3yrs won’t be a hardship for me but will when we start to make huge inroads in clearing debt.  I’m only getting rid of my current car as it’s starting to go wrong and needs some money spent on it and it’s an unknown cost.  My new car is the same car as I have now, just a slightly higher spec, slightly newer and lower mileage and the bonus is it will cost slightly less than what I’m paying now.  This will be my 3rd one of these cars, I just love them, they work so well for me as a family car.

Been to a local activity place this afternoon,  £12 for an hour which is a rip off plus drinks as not allowed own due to Covid.  Have got a voucher to go back next week for half price which have agreed to do with a friend, makes it slightly better.  I’ve then had my friends kids here this afternoon whilst she did a couple of work zoom meetings so fed them all from the freezer and then had a freezer reorganise of the house freezer whilst I was in there.  I need to go into the garage and inventory that freezer and move things round but I’ll do that later once I’ve been on the treadmill tonight.  I’m trying to have drawers for various things, so a drawer full of ice cubes (we like to make cocktails) a drawer full of ice lolly’s and ice cream, a drawer full of steam fresh veg, a drawer full of potato side things and then a meat drawer in the house freezer so I can easily pull a meal together.  Then I want the garage freezer similarly organised just to keep it easy although that will probably have a lot more meat in it as I bulk buy from Costco and a local butcher.

Tonight the plan is to relax and chill as have another play date tomorrow so need to work out what I’m feeding them as I had planned for pizza but as this afternoons play date at home was a last minute thing I needed something quick to feed 3 starving children, usually I would have taken them to a drive through but trying to be mse!  Probably will be a typical junk food lunch of chicken dippers and potato waffles type thing unless I go out and get bread in the morning and they can have bacon sandwiches.

I am having feelings of I’d like to be a stay at home mum again as this week off has been lovely but know it’s not an option at the moment.  There is the option with this new role to reduce my hours to part time but then I’ll need to weigh up the fuel cost of getting there vs what I’ll actually take home and is it worth dropping approx £25 a day when childcare costs me £6 a day?  I go through phases of this and generally the stay at home mum feeling takes over!  I need another operation on my tummy so I’m not going to do anything till after that.  The operation was meant to be now but with everything that’s happened it’s been postponed so I’m looking around Easter next year I think so Im going to stick it out till then and then see how long I need off for recovery, will be a good 4-6 weeks minimum recovery time as not allowed to drive to start with so that should give me a decent time to settle into my new role, pay off a chunk of debt and see how I feel next summer.  If I still feel like this then, I’ll discuss with his lordship and see where we are financially as it may be viable to go part time.  I don’t think I will ever go back to being a stay at home mum as it took ages to get this job with this company and feel with the way the job market and the country is in general that it’s better to stick it out and just work through this feeling of blah.

im glad his lordship is getting onboard, hopefully he sees the momentum I’ve managed to gain and see that his daily shops really do take a huge chunk out our budget.

shoppingobsessed2020

So I’ve noticed a couple of cracks in my kitchen ceiling this morning which is right below the bathroom and headed down the google rabbit hole and I may have a rotten floor.  every swear word under the sun has just gone through my head right now as I can’t afford a new bathroom right now but I may not have a choice.  

Historically we have been here 9yrs and haven’t touched the bathroom bar a lick of paint and regular regrrouting and siliconing the shower, we have replaced the shower unit twice but I don’t think that’s bad for an electric shower as it’s used constantly.  It’s been in at least 15yrs so is overdue being replaced as it’s dated and things are starting to get rather iffy and need to know the trick to turn a tap on or off type thing.  His lordship is a moment of diy madness did replace the inner workings of our toilet a few years ago and it turns out we had a slow leak from that for about 4/5years,

plumber fixed it and as we run a dehumidifier almost constantly didn’t think anything of it till today When I’ve noticed a couple of new cracks on the ceiling and then gone down the google route.

having a hasty reorganisation in my head as a new bathroom might need to be on the cards but I can’t see how I can get one without relying on a credit card.  None of the tradespeople we use take cards and prefer cash or bank transfer.  

Think I’m going to need to contact my builder and get his opinion but then I can’t ignore it and will need to do the work.  Why why why when I get a plan and start to get ahead does something come along and mess us up.  One loan was for damp proofing the kitchen and a new kitchen as it was drastically needed so I can’t even take another loan out plus who in their right mind would give us another loan.

Serious mental gymnastics going on right now as I have a feeling this is going to come to a head sooner rather than later.  His lordship will have kittens at the fact we may have to replace the bathroom as he’s only jut coming round to the fact we don’t have the disposable income to move which we both want to do. I’m going to need to hold out and wait for him to come home and then go back to sea and hope that nothing drastic happens in the meantime.  If it does well then I’ll just have to do some serious juggling and try not to increase the debt.

might message the builder and get him to come and quote for it now, I did get a quote a couple of years ago when we were doing the kitchen as well and it was approx 4K but that included new windows which I didn’t feel was bad, but couldn’t cope with no kitchen plus no bathroom for a couple of weeks with everything I had going on health wise.

Ok so new plan throw every spare penny at the mbna card, sod the Lloyds card for now just pay minimum on that and hope that I can clear a good few thousand before I need to stop paying anything and start stacking cash for a new bathroom. Not counting the bonus and leave cash in as the bonus is already allocated for courses and is non negotiable but the leave cash in could be used for the bathroom but I’d all depends when it needs done.

Drawingaline

If there has be n a slow leak which has affected the floor, it may be fixing that, that will cost the money. Bathroom suites themselves are pretty cheap, it's all the time sorting plumbing that costs. If it is a straightforward take out and out back in that may save. It can you get away with just replacing the shower/bath? 

While this may be a setback, this would be worse a year ago! It is a blip, and it is only money, and it can be sorted 

Chrystal

Does your house insurance not cover water leaks?  

shoppingobsessed2020

Panic over for now re the bathroom.  Builders just been round to have a look and he doesn’t think it’s anything to worry about for now, need to keep an eye on a couple of bits he’s pointed out in the bathroom and his recommendation would be to get it replaced in the next 18 months, sooner if his lordship has any more diy attempts.  The only thing his lordship is now allowed to do is change a lightbulb!

ideally I will hold out till next summer as can then do it when monkey boy is away with my parents or next October when we are away for half term.

the builders have given me a rough price for what I want of 4.5k which includes changing the windows as well so I’ve a goal to work towards.  It’s a tad more expensive because I need the bathroom layout changing, it’s a need not a want as we have a tiny short bath that is no good for any of us to have a bath.  It is used as my laundry basket that’s how small it is!  Monkey boy could use it for a bath when he was a toddler, but when he got to around 4 he started getting too long for it which gives an indication of size.

the downside is, if I want the builders to do it (and I do) I need to let them know by Christmas as they are currently booked for jobs to next April.  

So plan continues to be to throw everything at the mbna card for now, and then see where we are come December.

Sarahwithlove

That's good news that it can wait 18 months. Could you sit down and work out how much you would need to save to get to that point between then and now. Or are you going to focus on the cards first?