Debt and Budget (Reset) plan

EssexHebridean

I've just come back from a weekend in Edinburgh - it's a fantastic city! 

shell16

@EssexHebridean, I have been to Edinburgh before with OH for our anniversary a few years ago. I loved the city its beautiful 😍 

shell16

Happy Friday!  Yay!

The last week has seen my debt total increase by £520 due to OH overdraft, not what I wanted but hey ho, its done and dusted.  Made PAD payment today, slightly more than I would have normally as I wanted the balance on my Lloyds CC under £3K.  Visually looks better! 

Having a meal out on Sunday for sisters birthday with my others sisters and mum and dad.  This is out of my own spending account so not coming out of my already tight budget!  

The budget for the month has been tested to the limit with a failed MOT (Cost for MOT, tyres x 4 and something technical on the car) bringing the cost to £270, only had £30 in car maintenance too so a bit of a shock!  OH mechanic too! (Rolling eyes!)

I have rejigged my payments on Credit cards going forwards in view of the extra £520 i added to debt.  I did want my virgin CC paid in September (but I do have) following the Transfer, an extended period to Jan 23 with 0%.  The payments split to clear the full balance by then.  

Lloyds CC is now under £3K mark, this is on 3.9% until 2024, but I'm hoping to have that clear towards end of Next year.  Sainsbury CC which is my new CC following transfer from Lloyds card hasn't yet let me know when the payments start and how much they will be.  I've set a target of £50 a month to that card going forwards and its on 0% until Oct 2023.  Those payments will not clear the full balance by the time the 0% finishes, but i should have a significant less amount to balance transfer next year.

Here is a summary of the last week

Total at LBM August 2021 - £14370.70
Plus £520 (24/01/22) Overdraft  =£14890.70

Virgin CC1 - 0% - £1408/£1404 
Lloyds CC2 - 3.9% - £3095/£2998.99 (3% reduction)
Sainsburys CC3 - 0% - £2300
Loan - £6001.33/£3802.71 (36.6%  reduction)
Total = £10505.88 paid £4385.00 off debt)
29.4% Reduction 
DFD - October 2023/February 2024
PAD Started 06/10/21 - £866.12 Extra paid off Debt

Balance
08/2021 Starting Debt Total - £14370.70
2022 Starting Debt Total - £10752.40
Jan 2022 - £520 Added to Debt Now- £10598.79

• Virgin CC increased from £888 to £1404 (Paid £4 so equal payments going forwards)
• Lloyd's CC reduced from £3095.15 to £2998.99
• Sainsburys CC still at £2300
• Loan Still at £3802.71
• PAD payments made during last 7 days £121.90

My usual payments come out next week for Virgin and Lloyds CC, and I'm hoping to get a statement from Sainsburys to start paying that too.

That's about all for now!  Phew!

EssexHebridean

The increase on total was definitely a “needed to be done” so well done for absorbing it and being philosophical about the fact. Hopefully OH is now on the right page with you and understands why the OD was an issue.

I feel you on the car thing too - although hoping we isn’t get MrEH’s one back later this week now the warranty company have agreed to pay the vast majority of the cost. 

shell16

@EssexHebridean
Thanks, yep just need to move on from that.

Had a lovely day today out for my sisters birthday with family.  Great that I didn't have to worry about budget as I always budget for personal 'fun' money (and yes I did treat myself to Chocolate brownie!!)

I know my DFD has been Extended,  but I'm still super focused.  👌  Just over 2 weeks to pay day and next Months budget should be alot better in view our cars have had their MOT and new tyres this month. 

Not  alot going on this week,  just working.  Still at home so my travel budget is still 'fully stocked' for when I do go back. 

Gotta say I love my new budget book.  I'm a bit OTT at the moment,  checking my account several times a day 😆 I'm still writing everything down spend wise. I have decided to do a weekly check out, just so I know how much I've spent in every category.  It does keep me focused! I'm feeling in control,  I can look at my book at any time and know exactly what we can and can't afford.  

That about all for now 

shell16

What a truly horrible night last night was!  That weather was awful.  Heard several smashes, hope all our tiles are still on our roof!

Quiet day spending wise today. Only PAD made so still chipping away.  Working form home does have benefits, can get my washer on, my kids generate an enormous amount of washing!  Im sure they wear once (even change outfits during the day!) and stick it in the laundry bag.  

I checked how much I have made since August last year on Prolific and im at £193.68 with just over £5 pending.  Really pleased with that.  Surveys have slowed down again though.

Anyway brew time over, back to work!

EssexHebridean

I'd be tempted to employ the "sniff test" on stuff that doesn't look like it's in need of washing Shell - sounds like it could reduce both your workload and your costs a fair bit!  

shell16

Happy 1st February!

Checked my account this morning as I knew my mortgage payment was going out plus a few other bits of DD's.  I know its coming but its still such a shock!  My account up to this point was looking so healthy!  Im on track to stay out of my overdraft this month (As i did last month) , so my budget planning is working.

Half day working for me today, was going to venture out to get some fresh air, but both my DD's are off school today.  Checked and not covid, but very flu like, headaches, blocked noses, blocked ears.  Will likely just nip to do my weekly top up of essentials and fresh bits of grocery as my eldest is old enough to stay on her own for half an hour.

Budget wise not doing too bad apart from my Fuel for cars.  We have already used up the months budget and still 2 weeks left to go to payday.  Diesel is sooo expensive at the moment and not getting anything near what we used to a few months back mileage wise.   On the plus side, we have a healthy amount left in the Grocery budget so should have cash left over at the end of the pay period.  Last months picture was a reversal, loads left in fuel budget and not a lot left in grocery but we did have covid!  Swings and roundabouts!

So apart form a bit of a topup grocery wise, will be back doing some household chores this afternoon.

Thats about all for now.
 

shell16

Morning

Quick post today, made PAD payment, only small but its still chipping away at that balance. Virgin payment of £117 will be coming out tomorrow and then £114 from my Lloyds card on Friday.  These are more than minimum payments so again, balance will look better once these have been processed.

2 DD's are still off school, calpol given, back in bed sleeping.  Still testing negative so its looking like bad cold/flu symptoms.  

Not alot going on other than working, have a great day everyone!

shell16

Afternoon, where has today gone already???

Made payment to Virgin CC today of £117, this is interest free, so have updated totals.  Lloyds due out tomorrow, will update once interest has been added to that payment (its on 3.9%).

1 DD gone back to school, other is still off.  Had covid test done just in case, even though they are still testing negative at home, so will hopefully find out tomorrow the result.

Thats about all for now.