Divorce debt be gone!

biggerpickle

Good point Blackcats but hoping ticking the right statement on the starter form in the new job will help plus I've used some TOIL/ AL in this job to do 1.5 days handover so should be a smidge more heading my way too.

I was reminded earlier about some family money that's due to a relative which I'd totally not factored in - that will have to come from my service charge / house & car insurance /MOT  pot. Thankfully, my next 6 month. service charge bill isn't due til January so I should just about be able to recoup it.

biggerpickle

Hmm, couple of months into this and think am going to have to revise my debt target - originally said I'd want to clear it all by June 26 (when the 24 month Klarna payment plan expires) but it's making things a bit tight.

Only half way through the month and I've had to ransack the service charge/car /insurance fund again as teenmonster#2 has another sports trip that involves a weekend away so had to pay the deposit for that. That trip effectively takes care of a months debt payment as I'll be going with him and probably won't be getting a contribution from exh.

End of Sept payday is going to get hit with car MOT and servicing and home insurance. October will be car insurance and then December's it's service charge, professional fees and the next quarter of family money that started this month so that's going to wipe out that fund completely, though it's at £650 at the mo and I am adding ~£200 a month to it so it's kind of all budgeted for. Am not even thinking about Christmas - fortunately we aren't big on it, total commercial racket and it's instead about family time here as we're all agnostic.

Add into all that the stress of job change, dealing with teens, overthinking about introducing the "new" fella and his kids into the mix and the grey weather and it's a gloomy Monday here. 

biggerpickle

Some good and little bit unexpected money news! 

I've been given extra hours to finish at old job (nothing bad I've done, just handover stuff that needed to be delayed) and additional annual leave that I gained on querying their calculations. As I run payroll at both, I've seen my net pay way ahead of pay days and I am about £1.2k up on the month. This should cover car service, and some extra debt payments. I will hold some in my annual kitty as I will get hit with my rubbish 3 figure and not 1257L tax code next month in the new place when HMRC catches up. My tax code got hit during the divorce last year which has rolled into this year.

This all means my debt with drop from 5 figures to 4 on next Weds!!!!

beanielou

That is great news   

Aimingforthegoodlife

I can imagine children play havoc with budgeting! Well covered! Great news on overtime

biggerpickle

Checking emails this morning and one from the good folks at HMRC - my tax code has caught up with me, and some. Oh well, it wasn't unexpected. 

On reviewing numbers, I might not quite hit 4 figures once debts are sorted from this months pay but most definitely will with October's payday. 

I randomly discovered that my Halifax credit card account comes with a free credit score tool via Transunion and I am only marked as Fair - new credit applications, high utilisation of credit and moving in last 18 months have all gone against me apparently. There will be no new cards/ Klarna/ loads, the utilisation will obviously decrease and my time living here will go up so they are all controllable factors, thank gawd.

I also realised (getting ahead of myself here but that's what my money spreadsheets are for!) that March is a 2 child benefit payment month so that's another debt payment bonus month. 

badmemory

There is one on MSE too.  Whichever one it is meaningless.  Just check that the data on each one is correct.  The banks etc only see the data & not the score.  Do you actually need access to more credit?

biggerpickle

badmemory said:

There is one on MSE too.  Whichever one it is meaningless.  Just check that the data on each one is correct.  The banks etc only see the data & not the score.  Do you actually need access to more credit?

I did check it and there is nothing untoward on there at all, thankfully. I need to probably remove the apparent financial link with my exh but he's not a credit risk at all else he'd lose his job. The next credit I'll need will be a remortgage when rates drop another couple of notches / by Oct 2025 when my current deal expires, which ever is sooner.

biggerpickle

So nice having 2 paydays this month! Have made all the bill payments off my debt plan and updated my sig - as I have the car MOT next week, have not quite made it under £10k, have put extra money in my annuals pot instead. 

This diary is really helping me stay accountable - I must spend more time reading others too as you're a good bunch with all sorts of stories and ideas along this journey.


 

biggerpickle

Not surprisingly the car needed some MOT work. An electrical issue at home needs a call out that I am holding off for as long as possible on but might have to suck it up next week so those two things have eaten 500 quid of my annuals pot which means 1200 quid service charges due 1st Jan are going to be slightly rolled into February. Feeling a bit debt jaded this month.