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Single mum to 5, striving for debt free life
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Thank you @Honeysucklelou2 and @lucielle for you comments during the lemon phase that has been the last few weeks!!!
Payday today and now I am finally credit card debt free. I have cleared my hick up from last weeks credit card spend, great feeling. My car loan is now all that is remaining. The debt free wanabee journey is defo a hard one and it is the everyday slog that can so easily derail months of hard work.
My new reduced hours at work started on Monday and the 2.45pm finish is awesome, early days but I hope the earlier finish will have a positive effect on my life. I was lucky to win £1000 in a competition which has cheered me up endlessly so perhaps my luck in now changing. Budget wise I have increased the weekly budget from £300 to £400, I feel this in justifiable with current economic activities and every week I seem to be overbudget or am I imagining the price increases.
The remortgage process in well underway. I just need to scan more documents and send them over. I have the architect booked for end of Feb to discuss plans and ideas, again all very exciting. Happy Wednesday, tad windy today!!
debt free £17653.02/ £17653.02, 100% repaid on 31 May 2022, debt free date 25 Dec 20226 -
Prices are definitely higher!
What does your weekly budget cover? It might help to break it down and track what gets spent in each category (ie I have Food, Household, Treats, Pets, Misc, Petrol, Fun & Family as our discretionary spending categories, then I have pots I allow to build up for things like Christmas, birthdays, holidays, home & garden and Kids expenses (clothes, activities etc)). Then you can better see where any leaks are. I use YNAB app to do this, which you pay for, but there are free apps or you could use a notebook or just your phone notes app.Part time working mum | Married in 2014 | DS born 2015 & DD born 2018
https://forums.moneysavingexpert.com/discussion/6542225/stopping-the-backsliding-a-family-of-four-no-longer-living-beyond-their-means/p1?new=1
Consumer debt free!
Mortgage: -£128,033
Savings: £6,050
- Emergency fund £1,515
- New kitchen £556
- December £420
- Holiday £3,427
- Bills £132
Total joint pension savings: £55,4253 -
well done, that's a good news post and a half, no CC debt (makes it easier to focus on what's left), big prize (say no more), and a sensible readjustment to budget so you don't feel like you're in the wrong when you exceed an unachievable targetI think I saw you in an ice cream parlour
Drinking milk shakes, cold and long
Smiling and waving and looking so fine4 -
Congrats on the debt clearance and the win! Glad you finally got some lemonade...Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £3K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £22.5K + Lump Sums DB £4.6K + (25% of SIPP 1.1K) = 28.2/£127.5K target 22;12% updated 6/7
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.6K updated 6/7/253 -
Hi,
I've just read through your diary. You are doing amazing!!
You remind me of myself. I have 3 children and split with my ex husband 12 years ago. I was left almost £30,000 in debt by him. I then trained to be a nurse which I love. The children now don't have too much to do with him as he has definitely shown his true colours and let them down too many times.
I met a lovely man and remarried 6 years ago, we then managed to buy our first home 5 years ago.
I look back and think how on earth was I ever with such a man! I have worked so hard for what we have as a family. I would never have got anywhere if I had stayed. It is a long daily slog, but so worth it.
I look forward to following your debt free journey. You are an amazing role model for your childrenProud to be dealing with my debts6 -
That's an encouraging story @hippychick1 thanks for sharing.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £3K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £22.5K + Lump Sums DB £4.6K + (25% of SIPP 1.1K) = 28.2/£127.5K target 22;12% updated 6/7
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.6K updated 6/7/252 -
Not been on for a while so just catching up with your diary.well done on your £1000 win, so nice to hear of people who win like this. Hope all is going well with the family and you are enjoying your change in hours.xx:j Debtfree and and staying that way.:j3-6 month emergency fund, No.61 £140.004
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Hello, what a glorious Sunday, the sun in shining its socks off this end of the UK!
Thank you for all the encouraging comments, @hippychicky positive stories like this are just phenomanal to here about so thank you for sharing.
Here we are in March and wow the year has gone by so fast. I am happy to report that no more debt has been incurred. The remortgage is now at convayancing stage and lots of emails have been flying back and forth between myself and solicitors. My debt repayments for the moment have ceased and I am squrrling money away for the extension. I have a lovely ERC to pay on my existing mortgage of £2016. I knew there was going to be a ERC but I thought it was around £800. I did consider cancelling the mortage application when I found this but in the grande scheme of things an extra £1200 is not the end of the world. The new mortgage has a £500 cashback offer on completion so really on an extra £700!! I have cleared all the finanial screenings and I am becoming excited at the prospect of everyone having their own room.
My car is going in for a service and MOT on Tuesday, so endlessly excited about that bill!!
I am taking the kids caravanning during the Easter holiday, at a cost of £226 I was more than happy with the price I paid and I have also booked a summer holiday for July that has cost £400. My kids are not wee anymore and holidays are so important to me for making memories.
On another positive money note my dear mum put away money for me. I have only just found out about this and feel its her message from heaven offering me encouragement to keep going on this debt free jounrney. I do not know the amount but just the act itself is completely priceless and reminds me how much we loved eachother.
I am now away back to work, roll on 5pm xdebt free £17653.02/ £17653.02, 100% repaid on 31 May 2022, debt free date 25 Dec 20227 -
Bluegreen143 said:Prices are definitely higher!
What does your weekly budget cover? It might help to break it down and track what gets spent in each category (ie I have Food, Household, Treats, Pets, Misc, Petrol, Fun & Family as our discretionary spending categories, then I have pots I allow to build up for things like Christmas, birthdays, holidays, home & garden and Kids expenses (clothes, activities etc)). Then you can better see where any leaks are. I use YNAB app to do this, which you pay for, but there are free apps or you could use a notebook or just your phone notes app.
debt free £17653.02/ £17653.02, 100% repaid on 31 May 2022, debt free date 25 Dec 20224 -
So nice that you have a windfall from your mum to come.
Great news on the conveyancing side of things - and nice to have holidays to look forward to as well.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £3K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £22.5K + Lump Sums DB £4.6K + (25% of SIPP 1.1K) = 28.2/£127.5K target 22;12% updated 6/7
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.6K updated 6/7/252
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