Reel around the fountain

there_is_a_light_2

I’m not one for grand entrances so I’ll just slip in quietly and see how it goes.

I had a previous diary and toyed with resurrecting it, but decided to start afresh.  I’ll try to put on a link but to save you the trouble of reading, here’s a potted history of how I got here.

Early 2013 – hit lowest point with debts of around £35,000 and struggling to meet monthly payments
May 2013 – started IVA with SC
March 2020 – completed IVA

Everything between 2014 and March 2020 is a bit of a blur now to be honest, I was just focussing on making the monthly payments then getting through each day/week/month and dealing with whatever needed dealing with.  During this period, I had 2 redundancies, 4 fixed term contracts, big pay drop, 2 payment breaks, an additional year added due to equity in house, and many unexpected bills.  But we got there and I’m so glad I phoned SC when I did.

Fast forward to now.  Although I should now be debt-free, there are a couple of things I need to sort out before I can finally say that.  There is a nasty credit card to pay off which although not officially mine, I can’t fully plan ahead until it’s gone so I’m dealing with it.  There is also a small amount to pay back to a family member who has helped me out so much so I also want that dealt with.  I want to pay both these off in the next 6-8 months.

I’ve come back to a diary now for a few reasons, mainly to push myself to clear these 2 things, but also to keep me motivated to tackle other things.   I’ll be 55 next year and by then I want to be completely debt free, have started savings, tackle the mortgage and have some idea what my pension situation is.  All things I should have got a grip of a long time ago but hey ho, better late than never.  I sense a lot of changes ahead in the next 12 months and I want to be in a position to tackle them head on instead of burying my head.

There’s just me and OH at home for now, my eldest moved into a shared rental earlier this year and my youngest started at uni this year.

Here’s my list to keep me focussed, I’m pretty sure this list will grow but it’ll do for now, otherwise I’ll never get started.

Money

Short term   – finalise Nov budget / look at what can be trimmed / edit signature 
Medium term  – pay off CC / family member / start small savings pot / emergency fund
Long term – get to grips with mortgage, pensions, long term savings, retirement planning

Home and life

Short term – sort out kids bedroom / get annoying things fixed / move desk upstairs so I’m not in living room 
Medium term – plan for possibility of relative moving in / do something with garden
Long term – not sure on this yet, a lot will depend how next few months go.

Will take a good look at things and come back later with numbers and updates.  If you got this far, thanks for reading and I hope you'll join me to keep me motivated.

mark55man

Now I've seen your diary title, I know you are a Smiths' fan, so count me in for the ride.  Morrissey may be a bit of a n0b but he helped shape my Uni years and I would still put most of their  albums in my top 20

good luck with your challenges

there_is_a_light_2

mark55man said:

Now I've seen your diary title, I know you are a Smiths' fan, so count me in for the ride.  Morrissey may be a bit of a n0b but he helped shape my Uni years and I would still put most of their  albums in my top 20

good luck with your challenges

Thanks for dropping by.  Yes I've sort of fallen out with him in recent years but his music, amongst many others, played such a bit part in my past, it will always be up there on my playlists.  Thanks for the good luck, I think I'm going to need it!

mark55man

No worries, oh and by the way I forgot to put in my post (the second on the thread)

- happy shiny new diary -

May it bring you luck and comfort, and may it achieve whatever it is that you want from it (even if like mine, that changes in detail every month, with the big picture remaining reasonably focussed) 

rugbymadfamily

Happy new diary! Hope it brings you the motivation you are after, I only started mine a few weeks ago but already finding that it really helps with the focus and makes me think 😊

there_is_a_light_2

rugbymadfamily said:

Happy new diary! Hope it brings you the motivation you are after, I only started mine a few weeks ago but already finding that it really helps with the focus and makes me think 😊

Thanks rugbymadfamily.  I'll find your diary and cheer you along.  More of a football mad family here but I have been known to watch a game or two

there_is_a_light_2

Thanks mark55man and rugbymadfamily for your good wishes - this has given me the push to keep on rambling so thank you!

How did it get to be November already? Is it just me, or has 2020 flown by – probably for the best really given all that’s going on.  I’m sure we skipped a couple of months somewhere, hope I didn’t miss anything exciting.

So the beginning of the month feels like a good time to get this started so here is my financial update.

Outstanding debts as of 2/11/20:

CC1 - £3111.99
CC2 - £978.50
Family - £520

Total: £4610.49

CC1 is a silly interest rate and I want it cleared ASAP.  CC2 is 0% for 24 months.  Family debt is agreed amount of £150 a month.  My snowball calculator tells me that at £400 a month, I’ll be debt free by November 2021 but I’m determined to clear it all by July 2021  So I need to find ways to increase the amount I can afford to repay each month - lots to think about here.

This is the first month of a new bank account which is big news in itself, for me if no-one else.  After many years in the financial wilderness, my bank got in touch to say I was now eligible for a proper grown up bank account as opposed to the 2 basic accounts I’ve been using for years.  I was gobsmacked at the OD level I was offered  but not remotely tempted and asked for a lower OD limit of £300.  I don’t intend to use the OD at all apart from the odd month when a couple of bills go out just before I get paid so just there as a buffer.  I need to make sure I don't get into old habits and not see the OD as available to spend.   Lo and behold, it turns out I was also eligible for a 2-year 0% balance transfer card (meet CC2 above with balance transfer done).

I will probably/definitely waffle on a bit as I ponder things out loud.  I procrastinate a lot in life and tend to put off doing things until they really need doing.  Sometimes I put off doing things for so long, they don’t actually need doing anymore.   I read somewhere that procrastinators are actually perfectionists in disguise so I’ll take that as a compliment.

Every good procrastinator needs a list (or two) so that’s what I’ll do.  I also like need a bit of structure so I think I’ll split my list/s into some main sections: Money; House; Life.

I’m off to ponder and put together some lists….

there_is_a_light_2

Here are my lists – still work in progress but it’s a start.  If nothing else, at least I can look back at them to remind myself why I'm here.

The lists fall into 3 sections for now:
Money  - the obvious one, that’s why I’m here
House - nothing major, just 20+ years of family, life, stuff, PAPER, so much paper and lots of things which really need to be fixed, and a garden that I need inspiration for
Life – I’m not planning a mid-life crisis or anything but after spending 20+ years juggling kids, work, life, I now have more free time and I want to use that time well.

Money
Pay off family member debt
Pay off CC1
Pay off CC2
Start saving
Start emergency fund
Review mortgage
Review pensions

House
Fix annoying things – there’s loads so will need a separate list, I’ll come back to this
Bedroom 2 - big clear out
Bedroom 3 - move contents to Bedroom 2
Create office – in Bedroom 3
Garden – do something, not sure what
Declutter – everywhere, apart from the loft and garage (I know my limits)
Decorate and refresh

Life
Take care of my health / eat well
Some exercise every day
Read more
Listen to music more / more playlists
Watch some good TV but not too much TV
Stay connected to family / friends / outside world
Stay positive
There must be more to life so I need to think of more to go here

 

mark55man

that's my lists you have there - give or take a shuffle

there_is_a_light_2

Well this week hasn’t been the best so lists have gone out the window.  OH not good, said he can’t cope at work anymore and is handing notice in.  Won’t open up to me.  Then had bigger meltdown, says he’s only with me because he doesn’t want youngest to get hurt, me working from home has been doing his head in as I’m around pretty much all the time and he admitted he’s grown close to someone else who is helping to sort his head out.

We will split up, already have done in my mind, but agreed to keep it quiet for now until firm plans in place.  My immediate worry is the state of his health.  He worried he’s going to lose his temper big style at work, do something stupid so thinks it best to give notice now rather than get sacked.   Oh and apparently he is on a 6 month warning at work which he’s never told me about.  He’s agreed to get professional help.  He’s had a lot to deal with the past couple of years, would never open up to me and this is where we are.    Needed to come on here to get things off my chest as my stress adds to his stress.  Keeping it calm and grown-up whilst he continues with his new friend.  I just want him to get the professional help he needs then we can both move on.

Him not working will blow a pretty big hole in the budget but not thinking about that for now.

To top it off – today we have a burst water pipe behind the kitchen units/cooker.  Last time this happened we had to have the kitchen ripped out to get to the pipe.  Have turned off the water at the mains.  No idea where to start with fixing it so about to phone the home insurance then get some water supplies in.  Cup of tea first I think with the dregs of water from the kettle.

SuperSavingD

Hi 
Just read your diary and feel so sad for you.  Sending hugs.  Do you have a close friend you could talk to?  Hope the water is an easy fix. X