Countdown from 47k...

mrsmoneypenny90

WhySeaEm said:

!!!!!!, I'm feeling low and disheartened and overwhelmed tonight. 

  

Hey,

just read your diary from start to finish and have to say firstly well done. Well done for acknowledging that you have a problem, that’s the hardest bit. Remember debt is a very subjective subject and what others might see as an essential some might consider frivolous. 

I too have a dog and she is the love of our life. However, I have to say your doggy day care is expensive. Not sure what you do for work but after lock down could you maybe work from home more often to negate the need for DDC as often? 

Anyway, I’ve signed up to your diary and looking forward to spurring you on and see those numbers fall 😊

IrishSean

Yeah, as I said fella some of the love you get on the DFW might be harder love from some more than others, hehe.

It's good to have ppl crunch the annual numbers on your interest tho; assuming it's correct those are numbers to be super mindful of; use them as a motivation to throw what you can at debt early in the month cause once its out its a case of cutting the cloth to suit, but youre safe in the knowledge thats another % or part therof paid off.

Don't feel too down mate; it would be worse reading you could have tackled this at £45k if it grew to £60k or £90k! I was in for close to £6k remainder 2 months ago and most of it's gone by June, given the lack of spend in 8 weeks of lockdown (and even I cringe at the booze and steaks we've eaten #smallcomforts, lol).

As I said, come Dec it'll not seem anywhere near as bad. Double down on all the savings ideas mentioned; habits aren't just spending, they're also buying / using what we've always done and downshifting if not ditching.  Even small things like Sorning the cars or getting a rebate on your house alarm policy is good; a £200 saving on those things means an £800 laptop spend instead of a grand 👍

shoppingobsessed2020

Re the alarm, have you looked at other providers?  We have a monitored alarm and we pay £12 a month (need to add this into my soa) a bigger national company wanted to put in a cheaper alarm but higher monthly fee so we went for the slightly more expensive alarm but long term cheaper as monitoring cost is lower.  It also saves on our home insurance as well but I’m sure you’ve already got that but sorted.

its disheartening, I hate not having my cleaner at the moment and can see why you won’t give yours up.  A good one is worth their weight in gold.  Can you save on doggy day care when she is at the house?  I only ask as I know my cleaner let’s some clients dogs out in the garden when she’s there (can’t walk them due to Insurance’s).  

Can you do any skill swaps?  I do my cleaners books and tax returns for her in exchange for a monthly clean.  Helps that she is a friend who hates admin and I love it.  

[Deleted User]

I have days when I feel low but tonight I'm feeling like I can get rid of my debt and I'm motivated. I may not feel like this tomorrow. You'll get loads of advice and comments on here. Read them all and take what you think may help you. I'm always mindful that most of the people on here 'have the t-shirt' and so may tell you something that might help. 
You've got this! 

curly_moose

The bad news is you’re in a £47k hole; the good news is you’ve got a really big shovel. 

Have you heard of Dave Ramsey? He’s a bit ‘scorched earth’, but there are always stories about people who’ve paid off vast amounts of debt on his YouTube channel you’re ever in need of inspiration.

Best of luck with everything!

WhySeaEm

Right, feeling better this morning and less sorry for myself. It is what it is and I just need to accept that and get on with it! Consider my bottom kicked!

  

Mumoffourkids I'll do some comparison sites for my contents insurance, thanks. The house alarm is our cost not the landlords as we chose to have it added after we moved here. Definitely taking advantage of lockdown as no petrol, entertainment, doggy daycare, entertainment aside from the odd takeaway. I'm going to track all of my spending at supermarkets for the next month so I can see exactly how much I spend. Do you include toiletries etc in your food bill??

katsu you're right, I'll change that now. 

Elby I feel more motivated today. 

mrsmoneypenny90 thank you! I can't WFH long term as I work in a school unfortunately. And neither can wife, she already does 1 day a week at home to help with doggy costs. It's £20 a day which is very cheap for our area, most others are £25-30. 

IrishSean you were right about the hard love! I'm actually a woman too though you're right, the interest figures really shocked me and made me feel a bit sick! It could definitely be worse, we were at 60k a year or so ago but threw wifey's bonus at it and paid off one loan in March. So we've made progress just need it to keep going down. 

shoppingobsessed2020 what alarm company are you with? We're with ADT and stuck in a contract with them until August, it was a two year one when we had it fitted. I didn't realise that after that I could change provider. They've put it up twice since we got it, it started at £25 and is now £36, cheeky sods. We're not paying doggy daycare during lockdown so that's a big saving. 

4853emma yes you're right, there's up and down days but there's 'experts' here who can help me so I'm staying mindful of that. I opened myself up to criticism so I need to be tough enough to take it! Hope you stay motivated rather than not.

WhySeaEm

I've worked out we should have around £700 left at the end of this month to make the first debt payment. Purely from lockdown savings! Doggy daycare, entertainment, petrol etc. Which is a great start! Nearly halfway through my overdraft. Going to really knuckle down next month and see if we can make another big dent in it, we should have at least (£250 'left' + £320 doggy daycare= £570) as a minimum. 

WhySeaEm

I also had a LBM last month about my weight so I'm on the slimming world wagon and the thread on here. I have days where I wake up motivated and days where I feel overwhelmed about both the debt and the weight. 

Today is a good day! 

IrishSean

WhySeaEm said:

I also had a LBM last month about my weight so I'm on the slimming world wagon and the thread on here. I have days where I wake up motivated and days where I feel overwhelmed about both the debt and the weight. 

Today is a good day! 

Haha, there's something you could help me with, i'm bobbing around 28 / 29 bmi, 8 pound on, 8 pound off with lockdown. I had my first Burger King Sat night in 2 months; omg, paid for the overeating on Sunday, lol, soo sluggish. Am 6 ft & 15 st. so aiming for the 13's by end of June.

Your reply by reply is amazing☝ show's you're fully committed. When I had my LMB gambling I switched my thinking from "sure that was only "£20" to 
One of those "£2"' spins buys me 5 chicken legs at my butchers for my 'loved by all' French Chicken Leg Casserole (at around 80p a portion x 12 portions). All other would-be spending could go on debt or saving. Weirdly the great John Prine died a few weeks back; that was tough because his song Sam Stone has a great lyric " there's a hole in Daddy's arm where all the money goes": it's a sober reminder about spending! (Though primarily about addiction, I know).

Apologies for the gender faux pas above☝😀

Drawingaline

We all have down moments. Yes some posters can be harsh. Mainly because they have a wealth of experience of debts and consolidation and LBM that aren't really. By questioning your choices it allows you to question them and look twice at them, and decide that for you they are a priority over debt paydown, or something that can be scaled back or go, and then the money onto the debt.

I think that you are in agreement with all of us that getting a puppy was a pretty silly thing to do! But it is done and unlike a new car is much harder to give back. Doggy daycare will drop I assume once it is older and can be left alone for longer stretches, or can be swapped for a dog walker who doesn't need to come every day. Swallow the costs right now and remember how this massive cost hinders a faster debt free date next time you want to make a large impulsive purchase. Look at the budget beforehand! Enjoy the puppy, get out walking and see it as a bonus for weight loss.

You are doing great, once that first debt is gone you will feel such a sense of achievement and find yourself determined to get it all gone. 

And remember it will be a slog. Long term. You didnt get here in a month or a year, it will take time. And there will be ups and downs in that time but if you are both determined to do it you will get there.