I'm drawing a line...... my new debt diary.

helliecopter_2

I hope you don't mind starting a new thread with my debt diary. I do have an exsisting thread 'Helliecopter's 2012 disney challenge' but it's depressing me everytime I post on it. I start off last year trying to save money towards a holiday of a lifetime for my children, but didn't have my LMB. I was saving it in one pot and spending it from another. Needless to say I've 'postponed' my savings and am tackling our debt, which seems the sensible thing to do. Posting on the other post is a reminder how we've got to this point and I really want a fresh start once and for all. So here's my this is it ......

My LMB came on 1/3/08 £9001-61.:eek: Since then I've joined the grocery challenges and have cancelled all non-essitential direct debits and the others we've switched using quidco. I've raided all our savings accounts and the odd £32 here and £54 there has added up and all gone to paying stuff off.. We have a set family budget for everything and it's really helping keep our living costs down.

Our current outstanding debt stands at £6674.94. We've still got DH expense claims due and the child benefit all to be paid in May. Our budget has been set without using this money owed so this can be paid off our debts. It's going to be a tight month, but should see our total drop dramatically.


I'm drawing a line

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No more loans,credit cards or overdrafts for us from now. I'm fed up living today but paying tomorrow.

Keeping_Motivated

Nice to have a fresh start and it sounds like its off to a good start.

Would it help to post up your SOA to get more help?

Good luck
KM x

helliecopter_2

Hi Keeping
Thanks for your reply - We're currently living in Germnay and split our income between the two countries and send everything we don't need home to pay off debts. I'm confident I've cut back everything none essential are only have direct debits in UK for
- life,pax & crit ins for hubby specialist insurers
- contents & builders ins - from different companies to get best deal bought through quidco
- mortgage (fixed for another 4years) good deal and too many tie-ins to swop
- DH mobile contract - tied in until Aug, but reduced to cheapest tariff
- TV package £15
- Children's savings accounts £40
- £2 cancer research donation

I know the TV,kids savings and charity should be cancelled as they are luxuries. DH and I don't smoke or go out very often so the TV is a cheap enterainment for us and keeps us in touch with home. I can't cancel the kids savers accounts as I'll lose the regular bonus saver and I'm scared once we stop saving for them we'll never start again. As for the cancer research donation it's a token amount for a charity close to my heart and I'd rather go without chocolate to make the donation.
As for other luxuries day to day my DH and I have one paper a week which costs 70p and our monthly magazines were bought we clubcard deals. We have a yearly pass for our local zoo so all family days out are free. Neither of us smoke and only drink the cheap beer which is lovely 5% local stuff and is about £4 for a crate of 20!I've changed my shopping habits and have started going to Netto and Aldi rather than the equilivant to Tesco. I'm serious about paying off our debts and save every penny where I can.

Sorry for the ramble I know it's not my everyday cost of living that's the problem it's the impulse non-essential purchases that add up and result in overspending. Too many clothes, treats for the house and toys for the children.

helliecopter_2

Another quick payment update. I've just transfer all my child benefit and paid £125-40 off the credit card! Yippeee I'm so pleased as I was really tempted to buy some curtains from John Lewis, but I didn't give in. Every penny went off the card.

I've got the grand sum of £19-03 due from quidco any day and I really can't wait to pay that off the CC too. Even little amounts seem to make a difference on the snowball and it's great becuase you can see the debt reducing bit by bit.

With DH expenses it should be down to around £6200 at the end of the month.
Can't wait to crack the 6K so am going to try and find time and sort out some e-bay bits to give us a boost before pay day.

helliecopter_2

May - After what feels like the world's longest month it's finally pay day! Yipeee! We've had a couple of unexpected costs but have managed somehow to get our outstanding to £6165.30. It helps that both my children (3,2) and myself have had chicken pox so we've been on lockdown for 3weeks. I've had so many NSD that it's kept us well on track despite having for fork on a couple of unexpected costs.

June - I've got my DH expenses, child benefits, tax credits (1st payment in over a year due to overpayment) and quidco still to be paid in June. I'm in desperate need for a carpet cleaner (£100) and have decided to get one this month rather than renting one (£25) It means an expensive outlay, but will save money in the long term as it should pay for itself in a year.

I'm looking forward to this month as going out for a meal to celebrate our wedding anniversary.This will be our first adult only meal in over 8months so is a massive treat after our cut backs. We've budgeted for it so will enjoy this luxury.

I'm going to try and keep up the nsd's and am setting this months target at £5800!

Hope you all have a good MS month and look forward to reading your diarys.
Hellie xxxxx

helliecopter_2

I'm still money saving and have managed to put all our outstanding debt onto a 0% credit card and the deal runs until Feb 09. After a long chat with DH we figured it was worth paying the 3% BT fee after which we'll be saving around £75 interest fees. The great thing is that I can now pay bits and bobs off the total. I found if I had a few pounds 'spare' I'd leave it in my account and then spend it on e-bay. I think this is a lot easier rather than saver a lump sum for a settlement figure. This way as soon as any money clears into our account I'm going to send it straight to the Credit Card. My current DFD is Dec08, but would love to bring it forward.

I'm still waiting on 1 x DH expense claim, Tax credits & quidco all to pay which should be another £300 off the total. I'm really pleased with the way it's going and my total is shrinking quickly. Still not bought the carpet cleaner as I feel so guilty and think I should be reducing our debt!

My grand total today is £6089.70 all at 0% until Feb 09 :j

helliecopter_2

Another quick note - If my maths are right we've paid 32% of our debt off! Yipee! It's a great feeling when you can put it into a percentage a great way to motivate yourself.

Shineyhappy

Hi,

Things seem to be going in the right direction for you so well done! I really hope that you manage to get the debts paid off so you can go to Disney World.

Have you considered mystery shopping for a few free meals out?

cantcope

Just wanted to give you a WELL DONE! keep it up. In my opinion you need an adult night out to keep you sane now and again so i hope you both really enjoy it. Once in 8 months is well deserved.

I'd leave buying the carper cleaner for now and maybe have it as a treat once you are debt free... How many times will you use it before Dec to make it worth the extra £75?

From the way you are going you are sure to start next year Debt free.

Good luck x

**Amy**

Wow, well done on paying that much off in such a short space of time.

And to work out the percentage you have paid is a great idea (im rubbish at maths and wouldnt even be able to hazard at mine! :rotfl: ).

:beer: :T

dancingfairy

Maybe you could get one on freecycle? worth a look anyway. Do you really NEED a carpet cleaner? If your carpets are that filthy would it be worth just hiring one once and doing a proper clean around and then trying to take your shoes off when you come in the house or getting a nice bright rug (cheap of course) or tough doormat (cheap as well). I'm sure your house can't be that dirty can it?

Anyway it sounds like you are really cracking that debt. You'll be debt free in no time. Keep up the good work.