Starting again ... again

FOMO_overspender

Amazing cash out on PA! 😊 It seems to be quite busy at the moment, which is good news for chipping away at debts! 

Oh that sounds like a good dinner. I’ve really been struggling with a lack of imagination for cooking dinners, feel like it’s a relay between pasta or curry! 

Debt_Me_Out_Of_Here

It's difficult coming up with something interesting for dinner isn't it! We've actually changed plans to pasta now, will have a vegan mac and "cheese" with a sauce made from butternut squash and cashews. It's a rare thing that OH fancies pasta, so we'll roll with it haha! Giant couscous tomorrow!
I've had a good run of PA surveys, long may it continue!!

Debt_Me_Out_Of_Here

My new balance transfer card should arrive soon. I'm waiting for confirmation of the 0% period, but I think it was 26 months. So I've decided I'll divide the balance by 24 and set up a direct debit so it can tick away over the next 2 years and be cleared before any interest accrues. It'll make this my lowest-priority debt and while it would be nice to be rid of the credit cards completely as I had originally planned, it makes more financial sense to overpay on the loan I have that has 3% interest. 
So new plan of action:
1 - pay off Barclaycard
2 - get £1000 emergency fund back in place
3 - start overpaying on the loan
I would like to achieve goal 1 by August and goal 2 by Christmas. Once I get to stage 3, I might also start putting money into my LISA again for a future house deposit. Even if it's just £50 a month, it adds up quick doesn't it, especially with the 25% bonus. I currently have £340 in there - not much, but just the fact that I have an actual LISA set up makes me feel more grown up haha. I'm hoping that the new 5% mortgage deals will be around for a few years, that would really help us with getting on the ladder. 

TheAble

Sorry if this has been answered already. But do you need childcare if you're both WFH? Alternatively, could your other half give up work temporarily to look after the kids? The childcare bill is more than what he's earning.

Debt_Me_Out_Of_Here

Thanks TheAble! Yes, we absolutely do need childcare. Working from home with a 17 month old who is basically Bam Bam, when we both have high-paced jobs with lots of meetings, is a complete nightmare. We've done it for 30 days during 3 separate self-isolation periods, and I think we both aged about 5 years in the process. 

OH giving up his job is not an option. He does earn slightly more than what's in my SOA, that is just the amount he gives me each month.
He earns around £1550 but has some stuff coming out of his account. He also gets a decent annual bonus, and extremely generous pension (he pays 5%, his employer 10%), along with lots of other perks (freebies that we use a lot and save us probably hundreds each year in entertainment costs).

Most importantly, he loves his job, has been there 15 years. It's a very niche thing and if he gave it up temporarily, it would be very difficult to find something similar in our local area again. 

Basically, with Universal Credit support, when it is forthcoming, we are about £700-800 a month up vs not working - not including the bonus and the pension payments over the years. 

Then there is the added factor of having long term stable jobs when we do eventually go for a mortgage. 

Hope that makes sense. We did jigg lots of numbers around and this is the best option for us at the moment.  

Debt_Me_Out_Of_Here

The childcare squeeze is very temporary, DS2 will start his 30 free hours in January 2023 and things will improve quite a bit then. And then once he starts school in September 2024 ( ), we'll be at just wraparound care for school. 
Could really do with a retired nan living nearby - alas, no such luck for us. 

Debt_Me_Out_Of_Here

So I've received my Virgin credit card today. Balance after balance transfer fee is £2176 and it's 0% for 26 months. 
So I've set up a direct debit for £100 a month so it'll tick away by itself and will be gone forever in 22 months - meaning it'll be gone by April 2023. Seems a long time away but really isn't when you think about it.
I'm happy that it's just another thing like the loan that doesn't require any mental energy from me in terms of working out what to pay each month etc. 
Full steam ahead for clearing the Barclaycard now!

TheAble

Worth taking a look at your mobiles, internet, and utilities. We only pay £20/month for fibre. £5/month x 2 for mobiles. Gas and elec  - get that you're using more but have a check to make sure your tariff is competitive.

Debt_Me_Out_Of_Here

Thanks @TheAble. 
We need the superfast broadband because both of us need to download large files, connect to VPN and have video calls simultaneously, anything slower just wouldn't do it. 
We could reduce the mobiles, but we use a lot of data so the plans we are on seem reasonable for that. I'll definitely look at reducing it next time my contract renews. Husband is on a SIM-only contract that's pretty decent too. 
We're on the cheapest green tariff possible for our usage, I really don't want to go back to fossil fuels. OH has the equivalent of a spaceship's worth of tech in his office, our bills are 50% higher than they used to be. It's a big house with high ceilings too so takes a lot to heat. Hopefully the heating can stay off for good now. 

Debt_Me_Out_Of_Here

Good evening!
Nothing much to report today on the money front. Another NSD though. 
Have managed to avoid buying food all week and still have quite a bit of food in the house so will try to get to Saturday or Sunday without going shopping. 
I have some rhubarb to use and eldest has requested that I make compote with it and we have it on rice pudding, so I'll do that for dessert tomorrow. 
I had some spinach in my lunch today which I harvested from one of my containers in my yard, that really made me happy, the first harvest of the year.  
I've also spotted at least 30 tiny berries on my purple gooseberry bush. It's in its 3rd year now, we had 1 berry in the first year, about 15 last year so hoping for a good few this year!
In other news, I'm finally getting my Covid vaccine on Saturday, I'm very excited. I'm not old enough to be officially called yet, but my friend who works in a local hospital trust has managed to get me on the friends and family list. Happy days!