Day Dreaming to Debt Freedom

MrsDaydream

Hi People!
I've been on this forum for a small lifetime. Many false starts and half baked plans, you know the story! So I thought it was time for a new username and a fresh slate. After all, 2020 being the way it is.. might as well make my own rules?
During the national lockdown, roughly 2 month in, Hubby was made redundant, but we were blessed that he landed a new job pretty quickly and although we've had a sizable dip in income we still have an income. Which is brilliant, fantastic, couldn't really ask for much more in this climate! He's doing really well as his new job and although he's on a 3 month temporary contract there's already talk of a slight salary increase when he signs a permanent contract so all is fine and dandy there.
I work part time, and the rest of the time is spent at home with our lovely lad. Life is good, and I'm a firm believer that we have everything we need despite circumstances. 
Circumstances being our complete devotion to debt. It's almost like we can't get enough of it?? Don't want to kick it to the curb and be done with it for good?? We did have a bit of savings that we were intended to slowly syphon towards our largest debt. However, we've been at home and noticed X or Y and decided.. probably shouldn't ignore that anymore? Hey presto, old windows and death trap kitchen be gone. Also.. savings be gone. As of right now we have £1000 in our savings account, which sets us off very nicely to the below plan. The tale-as-old-as-time, can-I-get-a-Texan-howdy debt management plan.
Hubby is looking into selling his car, downgrading and have some left over for debt repayment. This will free up £1500. The one snaggle in this is that his car is currently in the garage. After having £1500 from our savings spent on it recently in repairs, so if you look at the maths that way.. we'd be getting our money back out of it with the sale? But either way it's an idea that is currently very much on the table. 

Our current debts:
Loan 1: 15000.00 (this is super consolidated, very historic, might as well charge it board kind of debt)
Loan 2: 2632.00
Loan 3: 1649.24
Loan 4: 1022.91
CC: £36.43
Klarna: £30.95
Studio: £30.00
Total Debt: £20401.53   

My plan of attack is painfully basic. As mentioned above, it's the age old smallest to largest, and just don't lose momentum (I'm highly skilled in momentum losing, I could add it to my CV) package. There isn't much to be done to that end until I'm paid this week but I'm hopeful we can knock two out of the park straight away. 
As it stands there is naught to cancel as we stripped things back through lockdown and redundancy. Such as we said bye to netflix and TV packages, we're now a freeview and DVD household! We get our entertainment mostly for free, as we're at that sweet spot in childhood where a nature walk is as exciting as a trip to Legoland will be in a few years time so we're making the most of that. We spend a lot of time at parks and visiting the library and once a month (now we can) we splurge on a bus ticket to visit my Grandma. We had fallen into the habit of streaming a movie rental on a Sunday afternoon but now we're into good rhythm visiting the library at least once a week we're going to switch to renting from them for £1.50, and the titles are surprisingly recent (as in, I could rent this year's Emma if I had the time. I was expecting Blockbuster's clearance stock if I'm brutally honest) 
We do have the ever looming threat of Christmas on the horizon but I've made our gift list and plan to buy one gift per week where the budget allows it. First stop, however, is my Dad's birthday. Our boy has picked a stall on the market that he wants to choose his gift from, and I'm being slightly cheeky by going by every week for a chat, a talk about what we're looking for in hopes we can get something really good within budget when the big day comes in a fortnight. 

(Also, I should mention, as all my days involve being with kiddo that we Home Educate - through choice not Covid. Which will explain why he's school age and well, at the library all the time!)

Right, best crack on then  

MrsDaydream

Currently sat with a sweep puppet on my hand so figured I could quickly update with the other

Hubby has collected some DIY things from around the house to return for around £45 so to that end I've paid off the CC. Will close the account once the payment has cleared 🥳

Lad and I made toffee apples this morning and went to the library to exchange books. Finally unearthed a gravy boat in a charity shop for 50p through foggy glasses, discovered it was vintage pyrex when we returned home which was a lovely surprise! Feel as if we have the upper hand on today 😄 Toad in the hole for our tea so the gravy boat is getting straight to work. 

MrsDaydream

Paid off Klarna since I last posted 😊
Hubby's car still remains in the garage but I suppose the longer it's in there, the longer we're not landed with the bill?! 
Plan to rent a movie from the library went well, rented Dolittle and that was a rainy afternoon sorted for £1.50. We've visited again this morning, renewed our books and checked out 6 more as I'm unsure what will happen to our libraries after today's announcement? But anyhow, our books are ours until the 2nd. Which is a relief as I'm reading Vanity Fair and needed more time 😄
Food shop was done for £47, which included a much needed broom so I'm really happy with that. Will be going again on Friday but will probably need more milk before then. 
Totalled up Christmas gifts and would like to save £100 by the middle of december for the bits we need to get. I've had Grandparents asking what Bug (think lad needs a thread name!) would like so I've got his bigger wishes covered now. I've been steadily buying him other bits through summer so he's already bought for. Just some tweaks to do to a couple things I've been making for him. Christmas is my biggest 😬😬 of the year but I've mentally bought everything, so feel can relax about it 😄
Managing to keep the heating off and the fires lit so far, hope that's reflected in our utilities account. Dressing gowns are out, blankets in the evening etc! Will find out Bug's waterbottle for tonight too.

Hope anyone reading this is having a fine day. Already looking forward to our tea of pie and mash 😍

JLS1901

Hello, I'm going to follow your diary and cheer you on   Good luck on your journey! 

MidsHollie

Welcome to the forum! It looks like you are already well versed in being frugal! I must admit, when it gets to this time of year I crave a log burner. They are so cosy! 

Well done o smashing through some of your low debts. I really do beleive that the debt snowball method is the best method for me. Those early wins were vital to my sense of achievement, and kind of trained me in how to manage this for the long haul. 

dfwprincess

Welcome! Following along, seems you’ve got a good star. We’re doing the snowballing method and it does motivate to get on to the next one 

WinterWarrior

Welcome MrsD, looking good so far! 

MrsDaydream

The snowball method definitely fits my personality type, I am a little cautious once we get to the larger loans but as we are paying £185pm off Loan 3 as is and I've budgeted the same amount to Loan 4 I'm hoping it's going to come around to being paid off quicker than I anticipate! 

Log burners are definitely the one, MidsHollie. We're lucky to have one in the house and I've been keeping it stocked for free so far. I do see some kindling collecting trips in mine and Bug's future  Take out the shopping trolley and a flask of tea! Unfortunately I know all the tricks of frugality which makes it even more embarrassing to find ourselves in a constant pickle financially. 

News last night wasn't as bad as I'd expected from No10. We're in Tier 2, so not brilliant but Tier 3 is what I figured so at least we have some freedom. Could be better, could be worse, which is pretty much the story living where we live  Can still visit the library, so that's nice! Bug was worried yesterday afternoon as he'd overheard me speaking to my Dad and he tried to hide the telly remote so I couldn't watch Boris. Which is a good tactic to take to the announcements really! But it is swings and roundabouts with him, 2 weeks ago he told me the virus was back and the library was "closing it's doors forever" because there was a book he didn't want to return 

Collecting a dolls house this evening from FB Marketplace, was £2 and I paid using money on my paypal account as it'll do well for Bug's playmobil. Very wary of how much we spent on entertainment for him through lockdown - books with the libraries being closed, lego kits, outdoor games, movie streaming, etc, so if we're heading that way again I'd rather be prepared and collecting a few games/projects for a few £ when I see them.

Menu for tonight is chicken curry and I can. not. wait. It's so blustery and windy, the thought of a nice tikka bubbling away is what's keeping me going through work!

MrsDaydream

Paid off Studio this morning, as well as £6.99 of a paypal payment I'd made for a halloween trial this weekend that linked to the CC not the bank. Unlinked now, was going to call and close the account when I saw the payment oending.

Bug's dance lessons tomorrow which I need to take cash out for today, and I've paid up next terms afterschool drama club too so I feel ahead there. Lastly I've moved £50 to one side which'll go towards a little flurry on the next debt along. Would probably cut the classes but as hes home educated it's time with other kids, and builds his confidence giving him time away from family to just be Bug. Plus, the gov might cut them for us at this rate!

Will need to do the weekly shop this evening, so meal planning and list writing will be on the agenda today. Taking Bug to the Museum this morning after spending yesterday afternoon pretending our home was one, and we might as well go while we can in this climate. We would visit my Grandma today for a few hours but BoJo said NoGo on that one, so feels odd without that weekly staple of our routine
Also planning to take myself to the library tomorrow while Bug is at his dance classes, pick a movie for the weekend and look through some local history archives they have out. 

Hope everyone has a good weekend, I've not watched it properly in a few seasons but I'm looking forward to Strictly tomorrow. Just for a small slice of normal 🙈

MrsDaydream

Well my little flurry quickly turned to grey sludge which ultimately melted at the side of the road. I completely forgot that we have two water bills, one for in and one for out. The one for out, it seems, likes to be paid as much as the one for water coming in? Which is as much of a shock to me as it is to you. But we had the money to pay it, things are just as tight as owt this week. Hubby did the food shop, which was a task that felt almost like gambling to hand over, spending £68. And while I am enjoying having rocky biscuits in the house, it was a gamble which did not pay off even if it did give me time to go to the Library on Saturday. Upside is we saved £1.50 as no movies really stood out this week (this by no means compensates the extra money spent on the food shop  ) I collected 2 reserved books and returned some that Bug had his day numbered on. During Strictly I put some more books on hold for us, and will endeavor to do much much better on next weeks food shop - by actually doing it. Friday evening I did forget I was meant to be going to the shops, it was only when Bug was in bed and I was making my own way to PJ-city that I remembered. Clever clogs that I am.

But still remains that while the bank looks on the lower side the cupboards are full, bills are paid, we have fuel in our cars and so on, so we have nothing much to complain about. And I have paid 3 debts off in 2 weeks. Hubby is paid in 11 days, me again in 4, and we have nothing we need money for until then. But I did feel the need to confess, and hope I have something better to report in a few days! Operation spend nowt is go (and it's an operation that works very well until myself and Bug are in town on various missions!)

MrsDaydream

Morning!

Had a lovely week spending as little as possible. Our biggest spend was a charity fair yesterday, £2 on hook a duck, £2 tombola and £8 on various rides for Bug but I've got to say - so blummin nice to do something normal. Also, not to brag, but walked away from the tombola with two prizes. Otherwise we kept everything local and free. Nature groups, library trips etc. Getting to that time of year when there are lots of movies on telly on a Sunday afternoon so making the best of that Library rentals stopped as soon as they started eh 

£25 to one side for debt repayments, Hubby's wages are paid on Friday so I plan to do a full debt update then. Will also have the true figure of the largest loan. Between starting this diary and now, while I've obviously paid off the smaller debts, it just feels like damage control  Hubby is looking into the work-from-home tax relief that was in this weeks MSE email, and I've been submitting our meter readings every week to keep an eye on what we're using. Heating is on now, but we have the room stat set to 19c and it only clicks on when we drop under that. Wary last year when we had boiler troubles how long it takes to warm a house back up when it's been stood cold so don't want to go too long without using it, as long as Bug is comfortable we'll be keeping it moderate as long as we can. Very glad we made the choice of function over looks to covered up the majority of our wooden floors through Summer, feeling the benefit (so to speak!) now.