“Debt is normal. Be weird.”

TheAble

browneyed_girl said:

 All necessary spends so the highly polished halo is still intact! 

With all respect that's not necessary spending, that's £50 up the spout. 

WinterWarrior

browneyed_girl said:

WinterWarrior said:

What was the £1.75 miscellaneous on? I need to know 😬

  

Shall I give you three guesses?! Get it right and I’ll send you a box of choccies!

Chocolate? A book? A coffee? My three guesses are based on my own bad spending 🤣
I’m the Prime queen…I cannot love it enough (even if they are the devil) 

browneyed_girl

@WinterWarrior - that’s an interesting insight into your spending!  Most days, I would also be betting on chocolate but this time the £1.75 was for a tongue bar (needed to buy a shorter bar to replace the first after the swelling went down).  My life is just so rock ‘n’ roll! 

browneyed_girl

TheAble said:

browneyed_girl said:

 All necessary spends so the highly polished halo is still intact! 

With all respect that's not necessary spending, that's £50 up the spout. 

@TheAble - that’s definitely one person’s opinion!  I would usually agree that my online shopping can get a bit off task, but respectfully on this occasion I feel that it was all necessary.  £13 on a birthday present for DD2’s friend is slightly more than the £10 I usually budget, but it is her best friend and she can hardly go to her party empty-handed - that’s just bad etiquette in my book.  £4.99 on a year’s supply of multivitamins to help keep DD3 healthy is actually a lot less than I’ve spent previously on them from supermarkets.  Lastly, £19 on 12 pairs of socks for DH seemed initially expensive to me, but he’s worn through all his by picking up extra shifts and being on his feet all day so I feel it’s the least he deserves!  He needs extra thick and long socks for under his work boots so they are a bit dearer than your standard cotton socks.  

Thanks for keeping me on my toes though!  I think it’s good to scrutinise and justify every spend when you’re trying to break a habit of a lifetime 

WinterWarrior

browneyed_girl said:

@WinterWarrior - that’s an interesting insight into your spending!  Most days, I would also be betting on chocolate but this time the £1.75 was for a tongue bar (needed to buy a shorter bar to replace the first after the swelling went down).  My life is just so rock ‘n’ roll! 

I would never have guessed that one 😁

browneyed_girl

Holy moly!  Who knew this old thread was still kicking about?!  I thought for sure that MSE would have labelled it as deserted (rightfully so) and erased it from history long ago!  

Not sure what made me suddenly come back to this abandoned diary on a whim (that's a lie - it starts with an M and ends with an -ortgage), but it feels oddly comforting looking over old posts and seeing how in control my past self felt when it came to our finances.  Safe to say, my current self is having a bit of a freak out.  Hence seeking solace in the one place that seems to exude common sense and calm, neither of which are frequent attenders in our household at present!

So yes, "the big M".  Something I've wanted my whole life (well, not the mortgage per se but definitely the homeowner status that goes with it), something that I had to convince my laidback DH we needed (after shutting down his nonsense of buying land and a yurt to somehow accommodate us and four DC ) and something that I was convinced would suddenly trigger some sort of "Game Completed" screen in this entertaining distraction that we call life.  Don't get me wrong - part of it feels absolutely freeing and beyond amazing, but I'm not sure I was expecting the anxiety that went with it all!  And worst of all, my usually logical approach to money seems to have suddenly left me and my emotions are taking control of my spending!  NOOOOOOOOOO!!  Just about the least MSE thing that could have happened to me!!  Desperately looking for a reboot back to my original software and knew this was just the place to come...

I've just added and updated some figures on my signature - further details will need to wait until my next post which should come shortly after a very necessary cup of tea and probably half a pack of biscuits.  Trying not to be upset that there are only custard creams in the cupboard (not a bad biscuit, but no replacement for chocolate) and focus on the bigger issues at hand.  Still, what I wouldn't do right now for a chocolate hobnob...

browneyed_girl

OK.  Tea and biscuits consumed, feeling somewhat energised from the resultant sugar rush.  Going to try and make the most of it by giving a summary of how things currently stand...

Now, looking back at debt figures from the start of this diary 3 and a half years ago, the numbers haven't changed drastically (good and bad I suppose), BUT I am glad to say that our CC debt has since been completely cleared and stayed that way!  Giving myself a brief pat on the back for that one - the relief of doing away with variable minimum payments and extortionate APRs has most definitely been worth the sacrifice of weekend treats and takeaways!

However, it's not all sunshine and daisies as you'll soon see...

Current debt (excluding mortgage which is symbolically displayed at the bottom of my signature as I try to also push it to the very bottom depths of my mind - it's so much money to owe!!):

• Very (DH's account) £1625.64 - the result of buying new furniture when moving house last month.  After years of using Freecycle/buying second-hand and upcycling, we agreed that we wanted matching furniture in certain rooms for the first time in our adult lives!  I love how it looks and think it was well worth it, but I know it's a lot of money to have spent.  On the plus side, most of it was bought in the sale and saved about 20% on what I see the prices are now - could be worse.
• Nationwide loan (DH account) £15176.03 - this I think is an entirely new debt to this diary.  The result of needing to replace both our vehicles simultaneously.  All I can say is that we really have very bad luck when it comes to cars and that's probably all I can say without falling into a pit of despair that then slowly fills with my up till now unshed tears.
• Natwest loan (mine) £9048 - how I wish to be free of this one!  Has gone down over the years but it's like having an annoying houseguest that refuses to leave.  
• Tax credits repayment £2298.95 remaining - as you may have seen previously, this was the fault of HMRC and not us.  Annoyed at their incompetence, we are paying back only £30 a month as a matter of principle.  Waiting to see who caves first - I'd like to just pay it off and not have it feature here, but they really put us through the ringer at a time when we were struggling financially.  I think we've been paying this back for at least the last 9 years and they damn well deserve to wait for it in my opinion.
• Student loan £12969.24 - I mean, it is what it is.  Entirely necessary, but also entirely a pain in the posterior.  Changes to the interest rates mean it's not being paid off as quickly as I'd hoped and I could really do with the extra £250-£300 in disposable income each month.

So, that all amounts to a total debt of £41117.86.  Cue screaming into my pillow when nobody else is around to witness my mini-breakdown.

I know it's all manageable for us (income details to follow in a later post) but it's just the never-ending quality to it all!  To have that money currently allocated to debt payments free to spend on other ventures would mean everything.  We want to do some work on the house and would love to take the kids on a fantastic holiday before DD1 is too old to appreciate a family break (she's currently 14 and in true teenage fashion has decided the centre of her world for the foreseeable future is her bed).  Oh, and baby number five is planning an appearance in July - what could go wrong?!

Anyway, kids now back from school so need to nip off and settle the first of many disputes whilst reflecting on a lifetime's worth of decisions...C'est la vie! 

browneyed_girl

Well, the first day back on the MSE wagon hasn't been a total disaster, aside from the fact that DD3 won't sleep and is now sitting next to me on the sofa whilst I try and bore her to sleep with my typing.  Unfortunately, this isn't uncommon as DD3 has autism and just won't sleep for love nor money (believe me - we've tried both).  Still, DH has gone to bed early as he has a very physical job and felt particularly knackered after today's effort, so at least having DD3 gives me some company!

Not sure I have the energy to go through all the nitty-gritty of our finances at this time, but I have been scribbling down a few ideas of how to better manage our income and outgoings, with set plans for building up some savings again (obliterated by house purchase) and prioritising getting the Very balance of £1600 plus change off my spreadsheet.  As this is a BNPL balance with no interest to pay if settled before November, I think I can have it safely cleared within 3 months.

Without even planning for it, today has been a NSD for both myself and DH.  The real surprise there is DH - the man does love to shop around for the most unnecessary items, to the point where sometimes I'm convinced it must all be part of some elaborate competition or survival game.  Just ask the SEVEN almost identical toolboxes we uncovered when clearing out the garage and yet he's always the one asking me for a screwdriver (and yes, by that I mean an actual screwdriver and not some bizarre position in the bedroom ).

Managed to stick to the meal plan I had for the kids tonight as well as me and DH.  I'm still very much in the habit of completing a weekly meal plan and shopping list, even if I'm not always adhering strictly to the budget I set.  In fairness, I allocate £100 a week for groceries on my spreadsheet, knowing that this amount is doable and this then allows me to figure out the minimum income we would require in a worst case scenario.  Thankfully, we are fortunate enough that we don't have to stick to this budget, although we often will just out of habit and very rarely exceed £120 even on a bad week, which I think is pretty good for a family of six.  I'm sure it helps that we are a vegetarian household and our main shop is done at Lid! - I can remember being so surprised at how much less it cost compared to our previous supermarket of choice and we've never looked back!

No particularly exciting plans for tomorrow - both DH and I are working in the morning but have the afternoon to go to a midwife appointment.  Shouldn't need to spend anything, but realising now that I didn't pay attention to the fuel level in my car so might need to top up tomorrow.  Food will all be from stores and we shouldn't need to buy anything before the weekend, although I'm aware DD1 has a few friends over after school on Thursday and we all know how much teenagers can demolish with seemingly very little effort!  

Oh, I suppose the only thing to note really is that none of the family know that we're expecting again.  Only at 16 weeks so easy to keep secret for now - not sure how long we can keep it going though!  This is the first time we haven't told family straight after our first scan, but I'm expecting some opinions that I really don't have time for about how many children we have, the time between them (youngest DS is now 6) and whether we really thought it through (we did).  DH and I just want to remain in our own blissful little bubble for as long as possible - is that weird?!

And on that note, I'm going to sign off for the night.  Fingers crossed that resuming this diary is going to do wonders for my sanity!

browneyed_girl

Writing here again is already getting me back in the MSE mindset!  Almost stopped at the shops on the way back from the midwife appointment this afternoon due to a sudden inexplicable craving for a Cadbury's creme egg, but thought better of it and drove straight home.

Hoped it might be a NSD but then one of the kids came home from school with nits and so DH is off to the supermarket to pick up some treatment.  Knowing him, he'll have also picked up a few extra bits so waiting to see what the damage is...

My proper brand spanking new budget isn't starting until my payday on Monday so not stressing about any extra spends for at least the next 5 days.  I'm hoping I'll be able to put a fair amount into savings, partly for planned house renovations in a few years but also as a buffer for when maternity pay goes down at the end of the year.  

In trying last night to get finances in tiptop shape, I also noticed that I had nearly £300 due back from HMRC from my 23/24 self-assessment - going to put most of this on the Very account which I'm keen to be rid of ASAP.  As it stands currently, plan for at least the next 4 months is as follows:

My monthly income after pension and student loan contributions: £3600
DH income (works PT but still FT dad!): £1200
Child benefit: £300 
Total monthly income: £5100

Monthly outgoings (including mortgage and loan payments): £2754.06
Planned budget for food and fuel: £800 (£100 for each weekly)
Money to Monzo pots for car insurance, car maintenance and Christmas: £300
Very account: approx £400
Additional spends/unexpected costs: £500
Savings: £300
Total outgoings: £5054.06

Anything leftover each month from additional spends budget will also get added to savings in an easy access account.  This is really going to act as an emergency fund in the short-term until after pending maternity leave.

Now to convince DH that this is the way to go...

LzzyIsGod

Firstly congratulations on your baby news and hoping it's a smooth pregnancy. Planning for mat leave can certainly help sharpen the mind financially can't it!

Clearing Very is a good plan, I've never particularly used it myself other paying in full but i gather the interest rates can be really high so getting rid before it kicks in and the new arrival arrives seems sensible.

Your food budget is really good - I usually budget 120 although I have 3 hungry carnivores here and 1 veggie but I've got quite smart at juggling 2 versions of the same meal. Meal planning is absolutely my saviour during the week both time and budget wise. Couldn't survive without it.