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Happy Sloth Clawing back

2

Comments

  • rdone
    rdone Posts: 570 Forumite
    Tenth Anniversary 500 Posts Name Dropper Combo Breaker
    Thought I'd pop over to say hi after you commented on my new diary.  First I want to say well done for clearing the debt that you have so far!  That is a huge amount and you shouldn't let that pass, especially in the circumstances you were in over covid.

    I was going to suggest the same as @vampirotoothus - are you able to transfer the OD to the BT?  It's shifting the debt but will save you the £33 a month which can go towards the repayments instead.  Something to look into maybe?

    Your food storage is incredible!  We work the absolute opposite here and our cupboards are mostly empty.  We have one small fridge freezer too so only buy what we have on the meal plan that week.  I'd love to be able to buy a bit more in bulk though, hoping to do this once our reno is done!  Plus the dogs have learnt to open the fridge freezer (it now has child locks on) so we try and keep it empty :face palm: 
    My debt free diary
    https://forums.moneysavingexpert.com/discussion/6348513/large-renovation-tiny-budget-lets-go/p1?new=1

    Debt: £14,896.33 @ 21/04/2020.
    Down to: £4,982.12 @ 08/06/2022
    Today: £9,799.52
  • WinterWarrior
    WinterWarrior Posts: 6,113 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    Just popping in to say I have so much food envy! I would kill for your shelves 🤣 The only reason I would like to live in America is so I could go ‘couponing’ and have a garage full of stuff 😬
    Do you follow Dave Ramsey? I love his baby steps, if you can get over the godly spin 😬 I would also say the overdraft is the thing I would aim to get rid of first. It’s the one line of credit that could be cut without notice and it will be a really high rate. 
    Not all who wander are lost - J.R.R.Tolkien
    🌊 A smooth sea never made a skilled sailor 🌊

    My WW and friends diary is here 😁 … 
    https://forums.moneysavingexpert.com/discussion/6259606/must-try-harder/p1

  • Happy_Sloth
    Happy_Sloth Posts: 316 Forumite
    Third Anniversary 100 Posts Name Dropper
    WinterWarrior said:
    Just popping in to say I have so much food envy! I would kill for your shelves 🤣 The only reason I would like to live in America is so I could go ‘couponing’ and have a garage full of stuff 😬
    Do you follow Dave Ramsey? I love his baby steps, if you can get over the godly spin 😬 I would also say the overdraft is the thing I would aim to get rid of first. It’s the one line of credit that could be cut without notice and it will be a really high rate. 
    haha those shelves are only half of it!. .... oh my goodness i have so much food! 
    • May 2021 Grocery Challenge :  £198.72 spent / £300 Budget
    • June 2021 Grocery challenge : £354.19 spent / £300 Budget
  • badmemory
    badmemory Posts: 9,808 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper
    Perhaps there is one thing worth remembering that many seem to forget.  A bank can call in your overdraft for absolutely no reason at all & it also is usually one of the most expensive forms of debt you can have.  So it could be worth looking at what is due when & how much it is going to cost.  I am so jealous of all those cupboards full of food.  But I suspect if I had that much in my house I would have to move into the garden!
  • savingholmes
    savingholmes Posts: 29,017 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Well done for getting down to £22K of debt. You both have good incomes - but if you can post an SOA it will be easier to comment. I would try to cut back on the 'prepping' as you seem to have it covered already - and it sounds like it is leaving you short in the short term. Have a look at Olio for free fresh food. 

    I would definitely target the overdraft as it's viewed badly by banks and is often 40% fee. You'd be better with a 0% spending card if you can't get a money transfer card - if you can trust yourself with one. You can find out your eligibility on the credit club on this site. Try and get one via something like Quidco a cashback site so you get paid for taking it out. Many of us including me could give you a referral link if you want one send me a PM.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.6K Net savings after CCs 14/8/25
    3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
    (If took bigger lump sum = 53.3K or 41.8%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise)
    (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £4.8K updated 29/7/25
  • Happy_Sloth
    Happy_Sloth Posts: 316 Forumite
    Third Anniversary 100 Posts Name Dropper
    edited 8 April 2022 at 10:32AM
    Statement of Affair's. 

    Ok so i've setup the SOA based on what we are now earning, however we haven't *Yet* had a month with this income as my husband has only just started his new job.  

    On paper things look pretty positive!  A major relief after the last 3 years! We just need to make sure that we divert the surplus correctly... we need to both get out of debt and renovate the house.  

    Both need work and either can really take 100% of the resources as 5 years in this house is still not comfortable.  I really REALLY want to be warm this winter. 

    [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

    Household Information[/b]
    Number of adults in household...........  3
    Number of children in household.........  0
    Number of cars owned....................  2[b]

    Monthly Income Details[/b]
    Monthly income after tax................ 3200
    Partners monthly income after tax....... 2700
    Benefits................................ 0
    Other income............................ 500[b]
    Total monthly income.................... 6400[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 1250
    Secured/HP loan repayments.............. 797
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 213
    Electricity............................. 300
    Gas..................................... 150
    Oil..................................... 0
    Water rates............................. 51.19
    Telephone (land line)................... 0
    Mobile phone............................ 80
    TV Licence.............................. 13.37
    Satellite/Cable TV...................... 113
    Internet Services....................... 0
    Groceries etc. ......................... 500
    Clothing................................ 0
    Petrol/diesel........................... 60
    Road tax................................ 10
    Car Insurance........................... 120.43
    Car maintenance (including MOT)......... 20
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 42.65
    Buildings insurance..................... 70.43
    Contents insurance...................... 0
    Life assurance ......................... 44.89
    Other insurance......................... 114.49
    Presents (birthday, christmas etc)...... 50
    Haircuts................................ 0
    Entertainment........................... 0
    Holiday................................. 0
    Emergency fund.......................... 50
    DS2 Living Expenses..................... 200[b]
    Total monthly expenses.................. 4250.45[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 450000
    Shares and bonds........................ 0
    Car(s).................................. 10000
    Other assets............................ 0[b]
    Total Assets............................ 460000[/b]
    [b]

    Secured & HP Debts[/b]
    Description....................Debt......Monthly...APR
    Mortgage...................... 230686...(1250).....3.5<
    Mum............................3500.....(0)........0<
    HSBC...........................7040.59..(181)......3.8<
    Kitchen........................4929.....(164)......5.2<
    Car Loan.......................4619.....(161)......4.5<
    Bank Loan......................2080.....(291)......3.3[b]
    Total secured & HP debts...... 252854.5.-.........-   [/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    Overdraft......................3000......33........5
    Credit Card....................1164......50........18[b]
    Total unsecured debts..........4164......83........-  [/b]

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 6,400
    Expenses (including HP & secured debts). 4,250.45
    Available for debt repayments........... 2,149.55
    Monthly UNsecured debt repayments....... 83[b]
    Amount left after debt repayments....... 2,066.55[/b]

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 460,000
    Total HP & Secured debt................. -252,854.59
    Total Unsecured debt.................... -4,164[b]
    Net Assets.............................. 202,981.41[/b]

    [i]Created using the SOA calculator at www.stoozing.com. 
    Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]
    • May 2021 Grocery Challenge :  £198.72 spent / £300 Budget
    • June 2021 Grocery challenge : £354.19 spent / £300 Budget
  • WinterWarrior
    WinterWarrior Posts: 6,113 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    Your house value might be a typo…£450. If that’s £450k then the assets will weigh against the debt nicely.
    Not all who wander are lost - J.R.R.Tolkien
    🌊 A smooth sea never made a skilled sailor 🌊

    My WW and friends diary is here 😁 … 
    https://forums.moneysavingexpert.com/discussion/6259606/must-try-harder/p1

  • Happy_Sloth
    Happy_Sloth Posts: 316 Forumite
    Third Anniversary 100 Posts Name Dropper
    edited 8 April 2022 at 10:31AM
    WinterWarrior said:
    Your house value might be a typo…£450. If that’s £450k then the assets will weigh against the debt nicely.

    Doh good spot! corrected

    • May 2021 Grocery Challenge :  £198.72 spent / £300 Budget
    • June 2021 Grocery challenge : £354.19 spent / £300 Budget
  • savingholmes
    savingholmes Posts: 29,017 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Happy_Sloth said:
    Statement of Affair's. 

    Ok so i've setup the SOA based on what we are now earning, however we haven't *Yet* had a month with this income as my husband has only just started his new job.  

    On paper things look pretty positive!  A major relief after the last 3 years! We just need to make sure that we divert the surplus correctly... we need to both get out of debt and renovate the house.  

    Both need work and either can really take 100% of the resources as 5 years in this house is still not comfortable.  I really REALLY want to be warm this winter. 

    [font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

    Household Information[/b]
    Number of adults in household...........  3
    Number of children in household.........  0
    Number of cars owned....................  2[b]

    Monthly Income Details[/b]
    Monthly income after tax................ 3200
    Partners monthly income after tax....... 2700
    Benefits................................ 0
    Other income............................ 500[b]
    Total monthly income.................... 6400[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 1250
    Secured/HP loan repayments.............. 797 Is this cars or something else?
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 213
    Electricity............................. 300 Elec and gas already seem high - are there any steps you can take to reduce your use?
    Gas..................................... 150 Heat the person not the house - see MSE article for tips & see if any would help
    Oil..................................... 0
    Water rates............................. 51.19
    Telephone (land line)................... 0
    Mobile phone............................ 80 This is a lot. Are you tied into contracts? Could you move to sim only? Make phones last longer? Make sure any replacements are bought via cashback sites or similar to reduce costs. It's sometimes cheaper to buy the phone outright and have sim only than a lengthy contract
    TV Licence.............................. 13.37 
    Satellite/Cable TV...................... 113 This is huge. There's an MSE guide on haggling to improve this. Consider whether you really need them all. I manage with just Pr1me but I'm never been a huge TV watcher. My internet is £23 a month for comparison.
    Internet Services....................... 0
    Groceries etc. ......................... 500 For three people this is a lot. Could you review cutting back. Even if you want to have 'prepper' style stores - are there cheaper ways of getting there. Perhaps look at Approved Food and other options. Olio is an app that can give you free food - as part of preventing waste - not needs measured.
    Clothing................................ 0 You should probably put something in here. It's alright short term to set this to zero but after a while if you are anything like me you would rebel and spend. Perhaps allow £25 per person to start... 
    Petrol/diesel........................... 60 Fab if this is real!
    Road tax................................ 10
    Car Insurance........................... 120.43 Is this a month or a year? Looks huge for your usage.
    Car maintenance (including MOT)......... 20 Is this enough? Is part of it covered in your HP payment?
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 42.65 Definitely shop around and go via cashback sites if you can. If you have an on-going condition with your pet though probably not worth swapping.
    Buildings insurance..................... 70.43 That's huge if that's a month. I pay £123 a year!! Again there will be an MSE guide. Look at going via a cashback site. Shop around.
    Contents insurance...................... 0
    Life assurance ......................... 44.89 Do you have enough cover? Worth checking. Cheaper the younger you are so if you are likely to need more - the sooner the better
    Other insurance......................... 114.49 What is this? Is it worth it?
    Presents (birthday, christmas etc)...... 50
    Haircuts................................ 0 Is this real?
    Entertainment........................... 0 Is this real? Even when on a strict plan - I allowed £50 a month for days out / eating out as we all need some fun in life
    Holiday................................. 0 Is this real? Again even a small holiday is likely to be a few hundred pound.
    Emergency fund.......................... 50 Good. I'd up this rather than the food stocks but all personal choice.
    DS2 Living Expenses..................... 200[b] Is this uni / maintenance?
    Total monthly expenses.................. 4250.45[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 450000
    Shares and bonds........................ 0
    Car(s).................................. 10000
    Other assets............................ 0[b]
    Total Assets............................ 460000[/b]
    [b]

    Secured & HP Debts[/b] Once you've had a few months at the new income level you may be able to get even better deals than these and gradually shift debt to 0%. 
    Description....................Debt......Monthly...APR
    Mortgage...................... 230686...(1250).....3.5<
    Mum............................3500.....(0)........0<
    HSBC...........................7040.59..(181)......3.8<
    Kitchen........................4929.....(164)......5.2<
    Car Loan.......................4619.....(161)......4.5<
    Bank Loan......................2080.....(291)......3.3[b]
    Total secured & HP debts...... 252854.5.-.........-   [/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    Overdraft......................3000......33........5 - 5% APR is unusual currently. Most people's are 40%. Are you sure this is correct?
    Credit Card....................1164......50........18[b] This is high - again - this would be my top target to either shift or pay off.
    Total unsecured debts..........4164......83........-  [/b]

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 6,400
    Expenses (including HP & secured debts). 4,250.45
    Available for debt repayments........... 2,149.55 
    Monthly UNsecured debt repayments....... 83[b]
    Amount left after debt repayments....... 2,066.55[/b] Fantastic news. You should be able to make really quick progress.

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 460,000 Great equity
    Total HP & Secured debt................. -252,854.59
    Total Unsecured debt.................... -4,164[b]
    Net Assets.............................. 202,981.41[/b]

    [i]Created using the SOA calculator at www.stoozing.com. 
    Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]
    I've made a number of comments above. Find what works for you and go with that.

    The make £10 a day challenge could be something else you could consider. I try to make some free money each month to spend guilt free or to put towards clearing debt or the mortgage quicker. Best of luck.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £172.5K Equity 36.11%
    2) £1.6K Net savings after CCs 14/8/25
    3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
    (If took bigger lump sum = 53.3K or 41.8%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise)
    (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £4.8K updated 29/7/25
  • Happy_Sloth
    Happy_Sloth Posts: 316 Forumite
    Third Anniversary 100 Posts Name Dropper
    Phew ... long week so far. Very Stressful. 

    Still trying to get the rendering sorted,  we started getting it rendered last JUNE!  and phew it's been a trial and disaster still not finished.   

    I'm struggling to cope atm,  every time i go outside and look at how my poor house was destroyed it makes me so sad and angry.  It's almost done now but the quality of the rendering job is unbelievable and it's been a fight to get anything done/fixed. 

    My mental health is clinging on by a find thread atm :/  last 2 days i've barely moved just wallowing which is no good for anyone! least of all me. 

    Finances this month looking more precarious than they where, DS2 phoned and needs 2 fillings, of course he doesn't have the money for it and cant seem to get into a NHS dentist.. so £300 was needed, so that puts my squarely in my overdraft.  Joy! 

    Soooo .... Food plan last week went more or less to plan.  Ended up going out on Sunday so had takeaway (Not good for the wallet)   but it meant we had the goose last night.. rubbish as it was. 

    I spotted the goose in a shop last year and bought 2.  1 to try and 1 potentially for Christmas dinner.  We ate the first straight away,  but it was all bone for such a big bird it had so very little meat on it. So we bought/had something else for Christmas dinner and the 2nd just wallowed at the bottom on the freezer. 

    I cooked it last night and it was a good meal between 3 with some meat left over for tonight but no way it would have fed 6 of us on Christmas dinner.  Anyway glad it's gone as it frees up some much needed freezer space. 

    So to the meal plan 

    The food i have this week we need to eat is as follows...   (As per last week not listing everything just the perishables) 

    • Avocado 
    • Parsnips
    • beetroot 
    • Savoy Cabbage 
    • Peppers
    • 1/2 Red cabbage 
    • Cauliflower
    • Carrots 
    • 1 Courgette
    • 1 leek 
    • Tomatos 
    • Broccoli 
    • Sweetpotato 
    • New Potatos 
    • 1/2 swead 
    • Onions 
    • Old Potato
    -- Other things on my Radar....  Most of this is veg,  whenever my new veg box arrives i freeze the leftovers of the last box.. the issue is we don't then go back and eat it,  because we have fresh in the fridge and so the cycle continues, with the freezer veg growing each month. 

    Note :  Next month i should cancel my veg box! or instead of buying a box, just buy a couple of specific items and use some of this up. 

    • Parsnips - We have a parsnip glut - 2 x 1 gallon bags full
    • Par-boiled potatos for roasts - 1 gallon bag. 
    • Swead Wedges - 1 gallon bag 
    • Bananas 
    • Mashed potato 
    • Carrot and swead mash 
    • Cooked red cabbage.

    Other items 

    • 1/2 pack of Frozen Chappati's 
    • 1 Large Naan bread 
    • Lentil Daal made the other day, because i don't know how to cook a reasonable amount! 
    • frozen spring rolls 
    • Frozen Pasta Sauce made last week.  
    The Plan... 
    • Tonight,  i plan to mix the leftover goose meat with rice and veggies into a stirfried rice.  this should use the courgette, some peppers, onions, broccolli and some frozen peas/sweetcorn. I'll also cook come spring rolls on the side.  
    • Thursday : Sausage Cassarole : Using up some onions, leeks, potatos, carrots and Savoy cabbage. 
    • Friday :  chicken Curry, pull out the naan, chappatis, Daal, add in onions, potatos, carrots, parsnips and swead. Make 2 portions.  
    • Saturday : Leftover Curry. 
    • Sunday.  breaded chicken and whatever veg is left. 
    Other things to do... 
    • Use red cabbage, onions and carrot and make coleslaw as it going down well for lunches. 
    • Maybe pull out the bananas and make banana bread, that will keep my son happy. 
    • Pickle the beetroot. 
    • Mash and freeze the avacados. 
    • Possible try a parsnip soup, never done it before but it could use up some of the glut.  





     


    • May 2021 Grocery Challenge :  £198.72 spent / £300 Budget
    • June 2021 Grocery challenge : £354.19 spent / £300 Budget
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