We will get this debt down & the savings up

Several years ago I joined MSE with a different user name, but then it all went a bit wrong with losing job and other things, so I sort of fell by the wayside.  Now I have created a new profile and am starting again with more determination.  I have read so many people's diaries and can see that it helps you focus and it is great to support each other.  I think also joining as many of the challenges as possible is helpful.

A bit about me/us....we are just a couple, grown up kids married and left home.  Without wanting to give out too many personal details, OH works FT and I am not working (long story), but do have a small private pension...taken early. 
We had our LBM in 2015, started a DMP with SC and then once we felt confident we went self managed. I got made redundant (twice), so we had to reduce our payments quite drastically and now pay mainly £1 a month to most of the creditors, although a bit more to 1 or 2 of them and we have had a couple of good F&F settlements and keep getting offered more that we hope to be able to take advantage of as & when we can. 
Have had a bad couple of years, but hoping now with all the little bits I am doing to save money & finally making a bit extra, that we will slowly see the debts go down & the savings go up.  Think the current economic crisis was the kick I needed to get doing more again. 

Not sure how often I will update, but will try & do it daily if I can. Please feel free to join in & always feel free to tell me if you think I am wrong about something or give me a kick up the backside.....lol.  I am open to healthy discussion & debate. 
Making the debt go down and the savings go up, one day at a time.

LBM 2015 - debt £57K / Jan 2024 now £34,119


Mortgage at 12th Jan '24  £19,000 (Officially finishes June 2026, but plan to get MF well before that....watch this space)
Total Mortgage Overpayments in 2022 - £240. 2023 - £1766
Total Overpayments so far in 2024 £209.00


Challenges

EF #68  £375/£1000
1p a Day Challenge 2024 #12  £56/£667
SPC 2024    #041  £10.87
Christmas/Birthdays 2024  #5
  £32
 Make £5 a day - Feb £95.15/145                 

NSDs for Feb 10/15
My debt free diary...https://forums.moneysavingexpert.com/discussion/6396218/we-will-get-this-debt-down-the-savings-up


«13456753

Comments

  • Sun_Addict
    Sun_Addict Posts: 20,860
    First Post Name Dropper Photogenic First Anniversary
    Forumite
    Welcome to diary land. It’s certainly kept me on the straight and narrow over the years, well most of the time anyway. Have subscribed to cheer you on.
    Christmas Savings 2024 £163.94/£600 February NSD:5 January Surveys £51.87
  • Thanks @Sun_Addict, welcome aboard. It looks like it might be a long haul, but we none of us ever know what is round the corner that might help or hinder our progress, so its onwards & upwards with determination.   Hope we can have some fun along the way as well, all tips on how to earn extra income or make savings will be greatly received.
    Making the debt go down and the savings go up, one day at a time.

    LBM 2015 - debt £57K / Jan 2024 now £34,119


    Mortgage at 12th Jan '24  £19,000 (Officially finishes June 2026, but plan to get MF well before that....watch this space)
    Total Mortgage Overpayments in 2022 - £240. 2023 - £1766
    Total Overpayments so far in 2024 £209.00


    Challenges

    EF #68  £375/£1000
    1p a Day Challenge 2024 #12  £56/£667
    SPC 2024    #041  £10.87
    Christmas/Birthdays 2024  #5
      £32
     Make £5 a day - Feb £95.15/145                 

    NSDs for Feb 10/15
    My debt free diary...https://forums.moneysavingexpert.com/discussion/6396218/we-will-get-this-debt-down-the-savings-up


  • So despite not feeling 100% today, with some strange lurgy, I have had a good relaxing day, watching TV, reading & doing surveys., decided I needed a day of doing nothing to get over whatever it is that is ailing me....lol.  I know its not the dreaded C virus as did a test to make sure.  Hopefully will feel better tomorrow and get on with some more housework & exercise

    Money wise, I have made just a £5 PAD to my DMP pot, these are over and above the normal payments that get sent every month. I set up a savings account so I could save little bits here & there & then when there is enough, we will see if we can get some good F&F deals from the creditors. We've had a couple in the past when we were able to pay them, and we keep getting letters with offers...so fingers crossed. 

    So its leftovers for tea and then a bit of TV when OH gets in, and an early night with a good book. 
    Onwards and upwards everyone. 
    Making the debt go down and the savings go up, one day at a time.

    LBM 2015 - debt £57K / Jan 2024 now £34,119


    Mortgage at 12th Jan '24  £19,000 (Officially finishes June 2026, but plan to get MF well before that....watch this space)
    Total Mortgage Overpayments in 2022 - £240. 2023 - £1766
    Total Overpayments so far in 2024 £209.00


    Challenges

    EF #68  £375/£1000
    1p a Day Challenge 2024 #12  £56/£667
    SPC 2024    #041  £10.87
    Christmas/Birthdays 2024  #5
      £32
     Make £5 a day - Feb £95.15/145                 

    NSDs for Feb 10/15
    My debt free diary...https://forums.moneysavingexpert.com/discussion/6396218/we-will-get-this-debt-down-the-savings-up


  • Welcome LMD. 
    Making the debt go down and the savings go up, one day at a time.

    LBM 2015 - debt £57K / Jan 2024 now £34,119


    Mortgage at 12th Jan '24  £19,000 (Officially finishes June 2026, but plan to get MF well before that....watch this space)
    Total Mortgage Overpayments in 2022 - £240. 2023 - £1766
    Total Overpayments so far in 2024 £209.00


    Challenges

    EF #68  £375/£1000
    1p a Day Challenge 2024 #12  £56/£667
    SPC 2024    #041  £10.87
    Christmas/Birthdays 2024  #5
      £32
     Make £5 a day - Feb £95.15/145                 

    NSDs for Feb 10/15
    My debt free diary...https://forums.moneysavingexpert.com/discussion/6396218/we-will-get-this-debt-down-the-savings-up


  • Elisheba
    Elisheba Posts: 1,513
    First Post Name Dropper Photogenic First Anniversary
    Forumite
    Hi @makingabobor2 Following you back.  Good luck with staying on the financial straight and narrow.  These boards are so helpful I have found.
    Live the good life where you have been planted.
    Fashion on the Ration Challenge 2022 - 15 carried over. Fashion on the Ration Challenge 2023 - 6 carried over. Fashion on the Ration Challenge 2024 - 67 remaining out of 72 My Frugal, Thrifty Moneysaving Diary
  • Welcome @Elisheba. Thanks for popping on. X
    Making the debt go down and the savings go up, one day at a time.

    LBM 2015 - debt £57K / Jan 2024 now £34,119


    Mortgage at 12th Jan '24  £19,000 (Officially finishes June 2026, but plan to get MF well before that....watch this space)
    Total Mortgage Overpayments in 2022 - £240. 2023 - £1766
    Total Overpayments so far in 2024 £209.00


    Challenges

    EF #68  £375/£1000
    1p a Day Challenge 2024 #12  £56/£667
    SPC 2024    #041  £10.87
    Christmas/Birthdays 2024  #5
      £32
     Make £5 a day - Feb £95.15/145                 

    NSDs for Feb 10/15
    My debt free diary...https://forums.moneysavingexpert.com/discussion/6396218/we-will-get-this-debt-down-the-savings-up


  • Well, hope everybody has had a good day.  After the lovely sunny start here, the afternoon has been constant rain...very depressing, so I try not to look out the window.  Not done much as still feeling the effects of whatever it is I have got, so decided another day of rest was the way to go to get better quicker.  Sometimes I think its all to easy to try and carry on regardless and then we end up worse, or just keep catching things one after the other. So I am hoping by tomorrow or if not, then by Monday, I will be fighting fit and back to normal and exercise routines and housework will resume. 

    On the money front today, I have cashed out £7.03 from surveys but apart from my £1 a day I am now putting in the Christmas pot, I have not made any extra PADs today, as decided to treat us to chippy dinner.   Firstly  because it means I don't have to cook, and secondly because I just feel like we need cheering up and I fancy it. What better reason could there be?  :smiley:

    My Christmas pot doesn't look as healthy as others, but TBH, I don't have much to buy, but also I have only just started saving and now I have started it, I will be in the habit of it, so next year will be easier and I should have a lot more by then. Although I may call it my Christmas & Birthday pot next year as I don't believe in spending a lot, so I'm sure £300 should more than cover all the presents I have to buy throughout the year.  We only really buy for  the GCH and they just don't get as much these days. My personal opinion is that people spend far too much at Christmas until it gets to the point that kids don't appreciate anything. Just my opinion and I'm sure others will disagree....so feel free to have a healthy debate.

    Now on the look out for any mystery shopping sites or receipt scanning ones that really work. From what I've read on most of the reviews, a lot of receipt scanning apps are a waste of time and don't work very well at all. 

    Need to work on updating my signature a bit I think to show a bit more of what I've actually done/saved/paid etc. Its just working out the best way to do it. Seeing it all here every time I log on, in one place, does certainly motivate me and makes me see its all worthwhile and however small the steps are, at least they are in the right direction. 

    Well hope everybody has a good evening and the weather improves.  Its Gogglebox tonight....love that program. 

    Remember ...keep positive and as Buddha said.....There is no path to happiness, happiness is the path. 


    Making the debt go down and the savings go up, one day at a time.

    LBM 2015 - debt £57K / Jan 2024 now £34,119


    Mortgage at 12th Jan '24  £19,000 (Officially finishes June 2026, but plan to get MF well before that....watch this space)
    Total Mortgage Overpayments in 2022 - £240. 2023 - £1766
    Total Overpayments so far in 2024 £209.00


    Challenges

    EF #68  £375/£1000
    1p a Day Challenge 2024 #12  £56/£667
    SPC 2024    #041  £10.87
    Christmas/Birthdays 2024  #5
      £32
     Make £5 a day - Feb £95.15/145                 

    NSDs for Feb 10/15
    My debt free diary...https://forums.moneysavingexpert.com/discussion/6396218/we-will-get-this-debt-down-the-savings-up


  • Another one who will be cheering you on! 😉 

    Similar situation to you - dh works ft and I'm not working atm (and won't be for at least a year). 

    I celebrate winter solstice and its normally a very expensive affair - my grandbaby is my achilles heel, I spend ridiculous amounts on him (all year round! 🤦‍♀️) but am determined to reduce that now that he is getting older as I want him to understand the value of stuff!! Despite having a solstice and birthday budget pot which I have a healthy amount in, I have decided that this year will be a scaled down version- I'm tired of wasting huge amounts of time and cash for no real reason other than others expectations; thankfully the rest of the family feel the same so it shows that the expectations were actually mine anyway! 

    Hope you feel better soon! 
    Savings/Slush fund repay 2024: £21.66/£1000
    Tilly Tidy Fund 2024: £5.25/£100

    Weight loss challenge 2024:
    0/24lbs
    1st quarter starting weight: 9st 13.1lb
    2nd quarter starting weight:
    3rd quarter starting weight: 
    4th quarter starting weight:

    GC 2024 - Annual Target: £2712- Running total:£74.12/£2712
    Weekly Target: £50
    Jan:
    w/e 7/1/24: £45.12
    w/e 14/1/24: £0
    w/e 21/1/24: £29
    w/e 28/1/24: £

    Monthly Target: £226
    Jan: £74.12; Feb: £; Mar: £; Apr: £; May: £; Jun: £; Jul: £; Aug: £; Sep: £; Oct: £; Nov: £; Dec: £


  • Welcome @leftatthetrafficlights and thanks for the well wishes. 
    I must admit I don't really believe in Christmas, think we only do it for the kids. I'm not religious in that way that I actually believe it all.  I'd put myself somewhere between being a Buddhist/Spiritualist/Pagan. The idea of winter solstice is much more appealing.  I love the saying that WHO is round the Christmas tree is more important than WHAT is round it. Although the last few years we haven't even had a proper tree....lol.  Just a twiggy thing. 
    Making the debt go down and the savings go up, one day at a time.

    LBM 2015 - debt £57K / Jan 2024 now £34,119


    Mortgage at 12th Jan '24  £19,000 (Officially finishes June 2026, but plan to get MF well before that....watch this space)
    Total Mortgage Overpayments in 2022 - £240. 2023 - £1766
    Total Overpayments so far in 2024 £209.00


    Challenges

    EF #68  £375/£1000
    1p a Day Challenge 2024 #12  £56/£667
    SPC 2024    #041  £10.87
    Christmas/Birthdays 2024  #5
      £32
     Make £5 a day - Feb £95.15/145                 

    NSDs for Feb 10/15
    My debt free diary...https://forums.moneysavingexpert.com/discussion/6396218/we-will-get-this-debt-down-the-savings-up


Meet your Ambassadors

Categories

  • All Categories
  • 341.5K Banking & Borrowing
  • 249.6K Reduce Debt & Boost Income
  • 449K Spending & Discounts
  • 233.6K Work, Benefits & Business
  • 605.6K Mortgages, Homes & Bills
  • 172.3K Life & Family
  • 246.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards