Paying off £37065 unsecured debt by July 2027 while continuing to travel this amazing world

Nintud

MFWannabe said:

Also are you in a fixed deal for gas and electric? If not and if you’re not already with the tentacle 🐙 supplier you could get £50 from a referral, let me know if you need one 😃

I’m tied in with Sainsbury’s for another 18 months. I moved for the nectar points offer. Points make flights!

Nintud

Two NSDs so far this month. Almost made it to three, but I bought two books from Vinted today (same seller) for just under £8.

ive just done my online grocery shopping, to be delivered on the 22nd.  I’ve based my meal plan on recipes in “A girl called Jack”. I already have a lot of the ingredients.  The groceries are split between Sainsbury’s and Morrisons and sticking with mainly Aldi price matched items.  I’ve spent hours swapping between the two shops to get the cheapest prices while getting as many points as I can too.  I rarely shop at Morrisons, but it’s the only place that does the powdered whole milk that I like. The boys drink so much fresh milk and forget I need some for my morning coffee. At least with the powdered milk, I can always get my caffeine hit. The powdered milk will last me a few months.

Ive got a fortnight’s shop for £110. It contains a lot of ingredients that will last longer than 2 weeks, so I’m hoping to keep the whole month below £200. 

I’m  in France this coming weekend. Any food bought there will be counted as “holiday spending”. I need to check if breakfast is included at the hotels we are staying in. If it is, I will fill up at breakfast and sneak a banana out for my lunch. Hopefully this will be a cheaper weekend than Switzerland was. Flights, trains and hotels are already paid for. I just need money for food, a champagne tasting excursion, buses/taxis, museum/gallery entrance fees, duty free and Souvenirs.  I think I can do it for €200 and have some left over for Berlin in November.

Two days until pay day 😁

Nintud

Nine dresses added to my Vinted wardrobe and another 15 laid out ready to go on tomorrow. I’m only half way to my £10 per day in sales for October so hopefully the new uploads will give things a boost.  My living room looks like a hoarders paradise. I have so much stuff to sell. 24 dresses barely makes a dent in my wardrobe. It’s been a gut punch to see how much I’ve spent on clothes, and much of them I’ve only worn once.

MFWannabe

Nintud said:

Nine dresses added to my Vinted wardrobe and another 15 laid out ready to go on tomorrow. I’m only half way to my £10 per day in sales for October so hopefully the new uploads will give things a boost.  My living room looks like a hoarders paradise. I have so much stuff to sell. 24 dresses barely makes a dent in my wardrobe. It’s been a gut punch to see how much I’ve spent on clothes, and much of them I’ve only worn once.

Oh I know this feeling. Today I pulled a load of clothes out the back of our wardrobe and have listed around 10 items today; all good stuff and not been worn 🤦‍♀️ and there’s more to go yet 🙄
If it’s not been worn / used it’s going; sick of the clutter; it’s really getting me down 😣
I’m determined then to only have what I wear; a good capsule wardrobe 
think of it this way; it’s stuff filling up space in your home and will help you to clear debts quicker x 

Nintud

MFWannabe said:

Nintud said:

Nine dresses added to my Vinted wardrobe and another 15 laid out ready to go on tomorrow. I’m only half way to my £10 per day in sales for October so hopefully the new uploads will give things a boost.  My living room looks like a hoarders paradise. I have so much stuff to sell. 24 dresses barely makes a dent in my wardrobe. It’s been a gut punch to see how much I’ve spent on clothes, and much of them I’ve only worn once.

Oh I know this feeling. Today I pulled a load of clothes out the back of our wardrobe and have listed around 10 items today; all good stuff and not been worn 🤦‍♀️ and there’s more to go yet 🙄
If it’s not been worn / used it’s going; sick of the clutter; it’s really getting me down 😣
I’m determined then to only have what I wear; a good capsule wardrobe 
think of it this way; it’s stuff filling up space in your home and will help you to clear debts quicker x 

A lot of the clothes I am listing is way too ‘young’ for me. I’m working on a capsule wardrobe that’s more fitting for a woman in her 50s. Despite having at least 40 more dresses, plus skirts and trousers, I found myself looking in my wardrobes on Friday and declaring “I have nothing to wear” to a business conference.  Total rubbish, I just couldn’t see the wood for the trees.

Most shameful, is the discovery that I had two identical dresses, and I’ve worn neither.

i do need some shoes though. I can’t hobble around in high heels anymore, and the smallest pooch has nibbled the backs of every pair I can wear. I may spend some of my Vinted earnings on a pair of nude kitten heels. £10 maximum budget including postage.

I wore doc Martin boots to work last week. Not really the smart look I was going for!

Nintud

Mandatory recalculation of child maintenance has cut monthly payments by £116.  I was expecting a reduction as ex is collecting his pensions. He is still working too and has an income about £15K higher than mine. He has partially retired and I expect he will give up working completely in the new year.  I can’t rely on receiving any maintenance for the children next year so I need to prepare for a reduction in income.  It will be partially offset by a 5.5% pay rise from one of my jobs, so not as bad as it looks. The pay rise should arrive in my December salary, with back pay to September. That will help with Christmas.

MFWannabe

Nintud said:

Mandatory recalculation of child maintenance has cut monthly payments by £116.  I was expecting a reduction as ex is collecting his pensions. He is still working too and has an income about £15K higher than mine. He has partially retired and I expect he will give up working completely in the new year.  I can’t rely on receiving any maintenance for the children next year so I need to prepare for a reduction in income.  It will be partially offset by a 5.5% pay rise from one of my jobs, so not as bad as it looks. The pay rise should arrive in my December salary, with back pay to September. That will help with Christmas.

Maybe redo your soa again now with your new figures from the new direct debits and the new / no maintenance figure 

Sarahwithlove

I'd definitely get your water meter read. Last thing you want is to end up with an unexpected bill. 

Nintud

New soa. This time I’ve included everything missed off my first attempt, updated income and adjusted expenses to be as realistic as I can get them. I’m left with very little wriggle room.

It’s pay day. First day of my snowball debt repayment plan.

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

Household Information[/b]

Number of adults in household........... 1

Number of children in household......... 2

Number of cars owned.................... 1[b]

Monthly Income Details[/b]

Monthly income after tax................ 3670

Partners monthly income after tax....... 0

Benefits................................ 170

Other income............................ 283[b]

Total monthly income.................... 4123[/b][b]

Monthly Expense Details[/b]

Mortgage................................ 749

Secured/HP loan repayments.............. 347

Rent.................................... 0

Management charge (leasehold property).. 135

Council tax............................. 125

Electricity............................. 58.5

Gas..................................... 58.5

Oil..................................... 0

Water rates............................. 45

Telephone (land line)................... 0

Mobile phone............................ 78

TV Licence.............................. 15

Satellite/Cable TV...................... 5

Internet Services....................... 25

Groceries etc. ......................... 250

Clothing................................ 80

Petrol/diesel........................... 65

Road tax................................ 2.5

Car Insurance........................... 165

Car maintenance (including MOT)......... 25

Car parking............................. 5

Other travel............................ 150

Childcare/nursery....................... 0

Other child related expenses............ 150

Medical (prescriptions, dentist etc).... 30

Pet insurance/vet bills................. 20

Buildings insurance..................... 0

Contents insurance...................... 10

Life assurance ......................... 35

Other insurance......................... 16

Presents (birthday, christmas etc)...... 140

Haircuts................................ 10

Entertainment........................... 0

Holiday................................. 165

Emergency fund.......................... 25[b]

Total monthly expenses.................. 2984.5[/b]

[b]

Assets[/b]

Cash.................................... 10

House value (Gross)..................... 172000

Shares and bonds........................ 525

Car(s).................................. 8500

Other assets............................ 0[b]

Total Assets............................ 181035[/b]

[b]

Secured & HP Debts[/b]

Description....................Debt......Monthly...APR

Mortgage...................... 108572...(749)......4.5

Hire Purchase (HP) debt ...... 5562.....(347)......0[b]

Total secured & HP debts...... 114134....-.........-   [/b]

[b]Unsecured Debts[/b]

Description....................Debt......Monthly...APR

Very...........................943.......98........42.9

MBNA cc........................13953.....124.......23.76

Santander cc...................10638.....203.......21.66

Omni loan......................5200......261.......11.5

Nationwide.....................199.......50........39

Santander OD...................2900......39.9......0

Currys.........................799.......66.59.....0

Natiowide cc...................470.......25........16.9[b]

Total unsecured debts..........35102.....867.49....-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 4,123

Expenses (including HP & secured debts). 2,984.5

Available for debt repayments........... 1,138.5

Monthly UNsecured debt repayments....... 867.49[b]

Amount left after debt repayments....... 271.01[/b]

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 181,035

Total HP & Secured debt................. -114,134

Total Unsecured debt.................... -35,102[b]

Net Assets.............................. 31,799[/b]

[i]Created using the SOA calculator at www.LemonFool.co.uk.

Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]

Nintud

£380.97 paid to Santander cc. Minimum payment and over limit amount paid.

£100 paid to MBNA. I had chipped away at this, so ‘only’ needed to pay £100 to pay the full minimum, plus an overpayment of £3 to round it down to £13,850.

£136.78 to Very as per snowball calculation.

Will put £20 into emergency savings to bring it up to £25, my planned saving per month for the moment.

I have a 2 year savings bond paying out today.  I paid £250 into that for my weekend in France. I have a few euros left from Austria, so I will change about £150 into Euros and pay some of my leasehold management charge with the remainder.

Dinner was a ys Cornish pasty from the freezer. I  picked up a ys malt loaf and muffins on Monday so lunch will be a fried egg muffin and a slice of malt loaf. Baked sweet potato and tuna for dinner.  I’m eating out of the cupboards and freezer while boys are at their Dad’s this week.  I generally live off left overs and cheese toasties on my child free weeks. I can’t be bothered to cook (and wash up) a full meal for one. Will have a banana for breakfast to offset the fried egg 😂

Finally going car shopping with daughter tomorrow. Once she has her car I will contact my insurance company to get her off my insurance, provided the admin charges don’t outweigh the monthly payment until it’s time to renew in December.

Payday and I’m barely in credit in my bank accounts 😭. Snowball calculation has my debt free date as July 2028.  Considering how much I have to pay, that date is good, but counting every penny is torture.

Hopefully Vinted sales will pick up so that I can pay off the debt faster. £2.50 in sales today.

to do:
1. Put £20 into emergency fund
2. Call Santander to reduce overdraft limit by another £75.
3. Put £65 into Curry’s fund (0% interest for 12 months)
4. Post Vinted parcel
5. Upload 5 more items to Vinted.
6. Put laundry away. I’ve half dried it in the tumble dryer and put it on the airer to finish off.
7. Use bath water to flush the loo (I’ve been reading Ladybird’s diary on the MFW board!)
8. Call child maintenance to confirm I have parental responsibility for the boys (tried on Monday but was on hold for 45 minutes)
9. Car shop with daughter
10. Buy food for meeting I’m Chairing (and claim spend back through expenses)