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Debt free by 30!?
Comments
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Achieved a NSD today! The baby had a good 2 hour nap on me which gave me time to order my shopping delivery so that’s coming tomorrow. Monzo has 5% cash back on it too, so £ on £77 shop. It’s Fruit Money Monday on Monday (we get the best start foods money due to getting UC while I’m on mat leave) so I’ve not bought too much fruit and veg in my shop and will top up during the week. I’ve included a slab of baking butter and a bag of caster sugar in my shop too. I’m trying to bulk up my baking supplies because I forgot how much I love baking. I made a great apple crumble using up old apples this week and next week I’ve got triple chocolate cookies on my hit list.
Meal plan for the week:
- roast ham and lentil soup (made with the ham)
- Stew
- Souvlaki chicken
- Pizza (from scratch!)
- Spaghetti and meatballs
- Apple crumble again
I’m planning on breaking out the slow cooker for the stew and the meatballs. I’ve got loads of veg to bulk these out and I’m already excited for the autumn cosy dinners! I’m trying to be more organised and cook a Sunday roast each week so we have at least 1 full family meal together. The evenings after nursery are so hectic that we never manage.
debt totals:
CC1 (Lloyds): £2,037 was £1,160
CC2 (NatWest): £6,064 was £6,682
CC3 (Virgin): £4,093 was £4,495
CC4 (John Lewis): £0! was £681
PayPal: £680 was 1,096
Next: £100 was £60
Total: £12,928
savings totals:
House fund: £7,096
Emergency fund: £154
Christmas fund: £200
Holiday fund: £600
Birthday fund: £200
Pension (personal only): £22510
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We survived the weekend and the party madness. We ended up doing party bags and had to decorate the party room so ended up spending more than I’d planned (£132). However it did mean the total party cost was £190 for 30 kids so quite happy with that. It was a great time and big kid got loads of presents that’ll keep him busy for a while.
Sunday and Monday both ended up being NSDs. I think today could also be a NSD if the cheese is still in date in the fridge… if not, I’ll need to grab some for our pizza making tonight.
The cashback from my Morrisons and Lidl shops came through too so have used that as a tiny debt pay off - yay! £4.17 closer to paying it off.
This week the baby and I have got a music class (already paid for) and a few walks but mainly chilling out. We get more UC and child benefit to come this month. The UC will cover the food shopping for the next two weeks with extra for debt pay off, and the child benefit will cover internet, phones and my personal credit card payoff payment. I pay £75 per month and aiming to round this up to £100 each month with small payments. So far we’re at £9.79 so will need to try harder!
debt totals:
CC1 (Lloyds): £2,037 was £1,160
CC2 (NatWest): £6,064 was £6,682
CC3 (Virgin): £4,093 was £4,495
CC4 (John Lewis): £0! was £681
PayPal: £680 was 1,096
Next: £100 was £60
Total: £12,928
savings totals:
House fund: £7,096
Emergency fund: £154
Christmas fund: £200
Holiday fund: £600
Birthday fund: £200
Pension (personal only): £22510
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Congrats and good luck on your journey. One thing I'd suggest reconsidering is the NSDs. I note you were planning on a NSD last week but ended up doing the big shop - which is not a problem in itself, but it's a planned expense.
Many people will make a budget for the month/week and try sticking to it, and then you don't get disheartened by breaking a NSD on things like groceries. Equally things like the hair cut - you mentioned you 'treated' yourself, but again I'd argue that could be an expected/planned expense within the budget. I may just be picking into the choice of words too much, and this is no criticism meant! It's just that I've been in that position too where I focus so much on the big number to shift, and don't factor in regular haircuts, that new pair of boots that were needed etc etc.
I know it's only the 10th of the month, but do you feel on track for your expected budget for September? As in, will you be able to pay off the amount you wanted to pay off the debt, and still be ok within the remaining budget for the month?
Good luck - it's great that you have your partner on board so you can tackle it together.0 -
Yeah you’re right, I think I am stuck in the mindset that things for myself that I need are frivolous and it’s wasteful… but ended up earlier in the month with holes in all my shoes! I’ve replaced the shoes but felt a bit guilty even though I’d never send the kids out in holey shoes.On the month to month budgeting, I do need to add in a line for haircuts etc. I cut the kids hair myself but don’t fancy doing my own! Luckily my hair is curly so doesn’t need cut quite as often, but I do deserve a hair cut!
debt totals:
CC1 (Lloyds): £2,037 was £1,160
CC2 (NatWest): £6,064 was £6,682
CC3 (Virgin): £4,093 was £4,495
CC4 (John Lewis): £0! was £681
PayPal: £680 was 1,096
Next: £100 was £60
Total: £12,928
savings totals:
House fund: £7,096
Emergency fund: £154
Christmas fund: £200
Holiday fund: £600
Birthday fund: £200
Pension (personal only): £22510
1 -
For a week with no money in, it’s been a week of money moves! I applied for a 0% card with NatWest that was no fee and 0% for 13 months (coincidentally takes me to 30). I moved the joint credit card spends and most of my Virgin card to this as the Virgin runs out of 0% at end of September for £1500 and end of November for the rest. I’ve kept enough on Virgin for 3 more repayments of £75 and a bit more as a stretch goal so my aim is to knock this down by the end of the offer. For the NatWest card, we’ll pay £160 from the joint account each month to clear this in the time and I’ll continue paying at least £75 on my own card. This won’t pay it off in 13 months but it’s a step in the right direction.
In other fun news, we moved the baby into his big boy bunk bed this evening. Very much looking forward to getting rid of the next to me in our room. When I go back to work, I’ve allocated a mental budget of £100 for new bedsheets, cushions etc for my room to celebrate finally being free of ratbags in the bed (she says in hope!!!) as I’m finished having babies. We spend so much time at home and I’ll need a place of lovely zen after days of work and parenting. I also finished knitting a jumper last night for myself, just in time for the cold snap. I realised I’ve only got 1 knitted jumper before this handmade one so I’ll need to get cracking on my next one. Luckily I’ve got a wool stash waiting for me to knit up a few winter woolies for me and the baby. The big kid’s winter knits from last year still fit okay. I’m committing to not buy any more wool until I’ve finished at least 3 more projects, all of which I have wool in stash for. I also can’t spend money while I’m knitting so win win!
The rest of the week is quiet for us as we’re visiting a national trust at the weekend with a picnic from home. We’ve got a play date with an old nursery friend too so hopefully the weather is kind to us!
debt totals:
CC1 (Lloyds): £2,037 was £1,160
CC2 (NatWest): £6,064 was £6,682
CC3 (Virgin): £4,093 was £4,495
CC4 (John Lewis): £0! was £681
PayPal: £680 was 1,096
Next: £100 was £60
Total: £12,928
savings totals:
House fund: £7,096
Emergency fund: £154
Christmas fund: £200
Holiday fund: £600
Birthday fund: £200
Pension (personal only): £22510
1 -
Happy Friday! The babe and I have had a busy morning picking up our fruit and veg for the weekend. This went on the fruit card (ie our best start foods card) so £21 well spent. I had £10 worth of pound coins left from a trip to the arcade so used them to pay for the non-fruit parts of my shopping. I came home with grand plans to make beef bourgunoin but I forgot to buy red wine and my beef had gone off in the fridge. Very frustrating but worse things! I’ve got loads of chicken in the freezer so will get defrosting. The big kid is going to see his grandparents after nursery so he’ll get his dinner there and I’ll make nachos for myself. I’m already excited for them!
We might end up getting dinner at my grans one day this weekend but if not, we’ll make pizza one day again and I might pick up a roast chicken for Sunday. We spent £88 this week on groceries compared to last week so I’ve got some wiggle room for Sunday. Or we’ll make fish fingers…
debt totals:
CC1 (Lloyds): £2,037 was £1,160
CC2 (NatWest): £6,064 was £6,682
CC3 (Virgin): £4,093 was £4,495
CC4 (John Lewis): £0! was £681
PayPal: £680 was 1,096
Next: £100 was £60
Total: £12,928
savings totals:
House fund: £7,096
Emergency fund: £154
Christmas fund: £200
Holiday fund: £600
Birthday fund: £200
Pension (personal only): £22510
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Great news about the natwest card. I think you need to try and stop seeing it as personal and joint debt and instead as just joint debt. That way you can both focus on paying it off and saving interest by paying off whichever is due to become interest charging first. After all it all comes from same pot by sounds of it. Especially if you get UC as they assess you as a family not individuals.
I always wish I had learned to knit or crochet. Guess it's never too late to learn*Dad loan - £5300 - £7200
*Virgin Credit Card - £3552.50 - £0
*Natwest - £1828.35 -£400
Barclaycard - £2315.25 - £0.00
Creation Finance - £960.32 £840
*Total debt - £8440/£11641.17*
Savings
*Savings Buffer - £1000/£1500
*Emergency Fund - £1010/£1500
New diary- https://forums.moneysavingexpert.com/discussion/6474943/the-three-cs-coffee-clothes-credit-cards/0 -
You’re right, I think because it’s all in my name (I know, bad move!) it still feels like the burden is all on me. We’re going to move all DDs into the joint account so this should help.@Sarahwithlove You should definitely learn! Although it’s a hobby that can be as cheap or as expensive as you like. Granny square blankets are a great place to start and keep you warm as you crochet them, great for money saving!
debt totals:
CC1 (Lloyds): £2,037 was £1,160
CC2 (NatWest): £6,064 was £6,682
CC3 (Virgin): £4,093 was £4,495
CC4 (John Lewis): £0! was £681
PayPal: £680 was 1,096
Next: £100 was £60
Total: £12,928
savings totals:
House fund: £7,096
Emergency fund: £154
Christmas fund: £200
Holiday fund: £600
Birthday fund: £200
Pension (personal only): £22510
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Yes it is a bad move to have it all in your name. Have you looked to see if your other half has any good offers in his name? Anything that reduces the interest you have to pay is best.
It will be a good habit to pick up now it's getting darker in the evenings. Keep me occupied*Dad loan - £5300 - £7200
*Virgin Credit Card - £3552.50 - £0
*Natwest - £1828.35 -£400
Barclaycard - £2315.25 - £0.00
Creation Finance - £960.32 £840
*Total debt - £8440/£11641.17*
Savings
*Savings Buffer - £1000/£1500
*Emergency Fund - £1010/£1500
New diary- https://forums.moneysavingexpert.com/discussion/6474943/the-three-cs-coffee-clothes-credit-cards/0 -
I’ve not looked actually but I think I’d find it quite stressful not having it under my control haha. Everything is now on 0% and we’re expecting tax and student loan rebates soon (I am constantly checking government gateway for my tax update!) so that’ll go straight to the biggest card. Feeling excited that we’re making progress.
debt totals:
CC1 (Lloyds): £2,037 was £1,160
CC2 (NatWest): £6,064 was £6,682
CC3 (Virgin): £4,093 was £4,495
CC4 (John Lewis): £0! was £681
PayPal: £680 was 1,096
Next: £100 was £60
Total: £12,928
savings totals:
House fund: £7,096
Emergency fund: £154
Christmas fund: £200
Holiday fund: £600
Birthday fund: £200
Pension (personal only): £22510
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