The Mental Debt Struggle...

beanielou

So do you have an idea of when you will start your phased return? 

Keedie

I'm hoping to phase back w/c 12 February 2024. I was originally aiming for the week before, but I am being phased off my bipolar medication and would prefer not to put too much pressure on myself whilst going from medicated to nothing. 

It also gives enough time for my OH appointment to happen, the report to get done and discussed with the managers and to check-in with my support coach at Maximus. So that I can then get my final fit note sorted with the GP. 

beanielou

Sounds like a plan 😊

FacelessNumber

I think moving things around so that you don't just keep dipping into a future budget is a good idea, there's no point paying extra off the debts if you then don't have enough for normal expenses, especially with having had a reduced income. 2 or 3 months of less debt payments to get the budget sorted seems sensible to me!

Cherryfudge

So much going on - great that you have a bit more time for your course, and I'm sure you'll make it.

That's rubbish about the dentist. If you have energy some day, a letter of complaint to the department that sends out fines would be in order.

I do get what you are saying about returning to work, though your current employers aren't typical of all employers and there will be better out there once you are ready. See if Occ Health can recommend some adjustments in consultation with yourself - maybe focussing on the hours and duties but also working conditions: if you need to take breaks, move around etc. It's all up for grabs at this stage and identifying what works for you is important.

Budget: the main thing is that you could make money available when you needed it. Success. If that slows things down elsewhere, so be it. Budgets aren't set in stone, they're meant to serve you not the other way around.

Sorry this is a bit abrupt: I didn't sleep till about 4 and my head's still not with it!

AntoMac

Nothing wrong with slowing your debt repayments down for a while Keedie. It was always quite a stretching target to clear it all this year. The important thing to try and remember is that you’re continuing in the right direction, even if you opt to slow things down. 

Aimingforthegoodlife

Hi Keedie, I hate that you had to fight so hard to be heard, but I am so pleased that the hard work has paid off. And hopefully it will have highlighted management issues as well. I think your plan makes good sense, sometimes better the devil you know for sure! Glad DS is feeling better and I hope the exam went well. 

Budgeting is super hard, play around with it and make it work for you! Paying off debts feels great, but not worth adding stress to your life to get it done. 

Take care

Makingabobor2

As long as the debts get paid, doesn't matter how slow or quickly. We are concentrating more on mortgage at the moment as the other debts are interest free now, so just paying minimum on them that creditors are happy to accept  Once mortgage is gone we will have lots spare to throw at other debts. 

Sun_Addict

Just catching up with you and good news your battle with work has finally paid off. Hopefully things will be better when you return but good you have a plan B in place if they’re not. 

Budgeting is always a work in progress, mine is constantly evolving. When I was paying off debt I found little and often worked for me. It doesn’t matter how small the amount it all helps. 

Words fail me with the dentist fiasco 😡 Definitely complain, that’s disgraceful. Mr SA had a similar experience when his exemption for prescriptions ran out thanks to our GP practice losing his renewal form. Thankfully he didn’t have to pay the fine in the end. 

Keedie

Thanks for all the encouragement and words of wisdom everyone regarding the debt repayments, it really does helps me.

I went to Cambridge yesterday for the day to meet up with my two friends (the ones that live in Suffolk and Norfolk) and it was so good to see them both. We went to a Thai restaurant for lunch and then to a coffee shop and we just chatted for about 6 hours and caught up without the kids. It was so nice, and it made me realise exactly what was important.

I've not given up on my debt free journey, but I've had a long hard think on the train there and back from Cambridge, about what life would actually be like for me to achieve my goal of clearing £9,000 to be debt free this year. And it's a bit too restricted for my liking to be fair. I want to be able to have the disposable income to enjoy time with my family and friends and make memories. You don't need to spend loads of money to have a good time, but I would like to have options.

And my son is quite keen on an 18th birthday party and driving lessons which I am not assuming would be financially shared with his dad (a thousand times bitten, twice shy kinda deal 🙄). And I can only rely on myself, so I have to rethink things and how to juggle everything.

So I've decided to still chip away at my debts, but cut myself some slack and take the pressure off. So my new goal is 75% of my £9,000 starting debt in 2024, so £6,750 to clear by 31 December 2024. My repayment targets are below:

Q1 ~ (20%) = £1,350
Q2 ~ (20%) = £1,350
Q3 ~ (20%) = £1,350
Q4 ~ (40%) = £2,700

Total = £6,750

I've reworked my strategy for the year too:

• Minimum payments (remaining at £300 pcm) = £3,600 (£3,150 remaining )
• 50 Envelope Challenge = £1,275 (£1,875 remaining)
• Debt Buster at £250 x 4 = £1,000 (£875 remaining)
• Side Hustle & Savings Challenges = £875 (£0 remaining)

The minimum payments is £900 a quarter (£300 a month), and the first 3 quarters have a target of £1,350 each. Which means I have £450 to pay off every 3 months, so if I complete the Debt Buster pot each quarter, that's £250/£450 needed. The remaining £200 a quarter will come from side hustle and savings challenges. And that means I can steadily save towards the 50 envelope challenge which I aim to complete by mid-December 2024. 

Work wise, it is a shame that I've had to keep fighting for better treatment, but at least I have a better understanding of how things will be. And I've got it in writing. It means I'll be able to get my head down and just keep meeting my finance goals whilst getting things in place for a career change. 

The NHS people responded to my email asking me to confirm my date of birth and address and to remind me that I can appeal online to prove my exemption. I figured that was just some auto response the lady had used, as my email clearly stated that I was never trying to claim an exemption. I gave them all the information that they needed and added a copy of the form that I completed and the receipt from the dentists, as they had given me a copy of both documents plus I sent them the screenshot again from my banking app and the scanned copy of the letter that they had sent me. So now I'm just waiting for them to sort that out so that they can wipe the penalty charge and the dental charges. I don't understand what is going on, but it's a headache I can really do without. I'm glad your husband didn't have to pay a penalty @Sun_Addict, as being penalised for other people's poor admin is just frustrating and frankly avoidable.