Dear Diary - help me be Debt Free

Lucifa73

Well, they confirmed last night that it is my post that is being made redundant. Have a meeting with HR and tax partner this afternoon to see what happens next as a starter to the 2 week consultation process. Main concern at the moment is what happens to the holidays I have booked over the next 2 weeks if I haven't accrued enough leave by the time my notice period is up.:rolleyes:

Have been determinedly cheerful all day. I don't want to shed any more tears over a job that really wasn't doing it for me anyway. Just looking forward now to being a mum and spending time with my family.:D

Lucifa73

Officially redundant now:rolleyes:

They are terminating employment without notice so I am actually better off by 6 weeks' full pay (about £3k after tax) plus I get paid for the holidays that accrue up to 31 August when mat leave would have ended and I get compensated for benefits not received in period up to 30 April (which would have been the end of 3 month notice period) so[STRIKE] if[/STRIKE] when I get a new job for September we will be quids in with a big chunk (about £4k) towards a deposit on a house. It will all be paid into my account next week so I need to work out where to stash it for maximum interest...

Will get taxed a teensy bit at 40% but still way better off as the alternative was to accept notice and get paid across the end of the tax year...

lucielle

Sorry to hear your news. You seem to be keeping positive about it.
L

Lucifa73

Today would have been the first day of my official maternity leave (as opposed to the 2 weeks holidays I just took) but is now the first day of unemployment...

Assuming I get a job to return to in September (which is when I planned to go back anyway) we will be almost £5k better off as a result... That means we have doubled our savings towards a deposit on a house. Plus I will only have my 0% CC and term loan left to pay off. So all around a good result really:D


I've been neglecting my diary recently but hopefully will be posting more from now. I receive every penny I'm due up to 31 August (incl SMP)in a lump sum this week and want to manage it as well as possible. Posting here will help me do that. I'm going to dust off the old spending diary too to prevent old habits reappearing. I may be out of the temptation of buying lunches and coffees because I'm not in the office, and the 100day challenge is definitely helping on the mags/books/crafts front but I think I will really have to be disciplined not to spend money on the 'odd little thing' for Bean...:rolleyes:

Trying to fill my days with little jobs until Bean finally puts in an appearance. 38+5 today so, one way or another I will be a Mummy within the next 23 days:j . Every time I feel a wriggle I tell the little one to come out and play as there's alot more room and better cuddles - so far I'm being ignored which doesn't bode well for the future:p

lucielle

Ahhhhh, the waiting game, remember that well.
L

beanielou

Wont be too long now hun

Lucifa73

In the end just over £9k hit my account for redundancy payment:j Of that I had anticipated around £3k for 6weeks salary and about £2k in SMP so an extra £4k to me which is great!

I have applied for an ISA and will stick the max in there immediately and the rest will sit in my regular savings account until April when I plan to put another £1.5k into the ISA.

I have cleared the balance on my Egg card which was the only interest bearing CC I had left. £500 of the money that would have been my Feb salary will go into my HBoS account to clear O/D and cover future student loan payments.

I need to rework my budget to include these changes and then I will 'pay' myself a fixed amount each week to cover DDs due, the biggest being my A&L loan (how much do I wish I'd taken the PPI...) and have a little pocket money.

If I'm careful and get a job by 1 September we'll be at least £4k better off but I'm hoping the full £5.1k that goes into the ISA will remain untouched...

Gemmzie

How fab :T I'm sure you can do it and I hope you've already signed up to lots of baby clubs for freebies

beanielou

Wow, that was a nice surprise then.
Take care

lucielle

That is very organised. Now you need to keep all temptation out of the way!
L