Facing up and cracking on

remote_control · 10 July 2017 at 6:36AM

Few house renovations happening here in the next few months, looks like it will cost nearly £10,000!! So we are frantically trying to source money! Cashing out a share scheme will cover some of it thank goodness. Determined not to put any on credit cards but we may dip in to our overdraft. Luckily it will be spread out from now until Christmas. Children woke me up early so I have done some survey type things already and have three things to list on ebay. All good fun.

remote_control · 27 July 2017 at 9:03PM

Well the first of the renovation projects is complete and we've come through relatively unscathed financially and we haven't had to increase our debt. It was about £3000 so the majority will be later on in the year. Planning on doing lots of selling in the next few weeks to try and make all we can and also to have a very cheap summer hols. Been looking at money saving meal things but not seen much I can try yet, I think I need a bigger freezer! Started making stale bread into bread crumbs which is good.

Current debt is £19,666.59.

remote_control · 24 August 2017 at 5:07PM

Current debt £19,421.38

Coming down at a snail's pace but really pleased to be doing home improvements without adding to the debt at all.

I have also been writing down what we spend for a year now and it was really fascinating to look at our yearly totals and averages - I printed it out and stared at the spreadsheet for hours! It is great to have a benchmark now to work against. It was also nice to see that if it wasn't for the debt repayments and the car we bought we would have a couple of hundred pounds spare every month. Unfortunately we do have the debt repayments (which include the car) so we don't have money to spare. But we haven't added to our debts in well over a year (apart from the car) and we can live within our means each month. I look forward to having some savings when we need to replace the current car (~4 years time).

Meanwhile we're saving for some house renovations so we can get through them unscathed. And then we'll focus on the £5390 on a 0% card which runs out in June.

Thanks for the inspiring diaries.

remote_control · 29 August 2017 at 10:22AM

A DD went out so it is now £19,318.51

I reckon we can afford to get that into the 18s but I will wait for all the beginning of the month bills to go out and see

remote_control · 11 October 2017 at 6:49AM

Debt Oct 2017: £18,577

Hopefully we will start the new year with debt in the 17s. As we have no magical large sums of money coming in and also Christmas coming up I am going to try to post a bit more regularly to keep on the straight and narrow. We spend little bits of money here and there which all add up so I am trying to cut that out. Yesterday was a fairly good day as I got a free lunch and resisted buying something that we sort of need but can do without for a couple of months.

enthusiasticsaver · 11 October 2017 at 8:05AM

That is pretty good RC. Slowly but surely. Have you still got lots to do to your house?

I love spreadsheets too and in spite of using clear checkbook to record spends I still move it across to my spreadsheet so I can compare the monthly spends easily.

jools1985 · 11 October 2017 at 8:21AM

I've just read all of this thread. well done on the budgeting and savings made. It must have felt great to get out of the twenties and into the nineteens, then further down still

enthusiasticsaver · 11 October 2017 at 8:33AM

Amazing that you have managed to reduce your debt this year and buy a car and do house renovations. Keep going. You are doing brilliantly.

Kittychick · 11 October 2017 at 9:17AM

Wow, I've just read your diary, you are doing so well... We are on a very low cc debt but I know it might go up due to a possibility of needing a new car in the next few months so I can see how disheartening it is. Another recipe option is BBC Good Food, one of the options on there is something like budget/student.. I've seen done really nice stuff on there
Good luck on your journey x

remote_control · 11 October 2017 at 7:34PM

Thanks for the comments!! I really appreciate it. Yes we have achieved a lot I suppose, Debt is down £5k this year and we have done a couple of house projects without adding to the debt. It is that never ending conundrum of whether to work harder to pay off the debt quicker or live while you pay it off slowly. The latter is what we have been doing and largely I have been ok with that as we live within our means and can manage the minimum payments fine.

I would like a bit of focus in the run up to Christmas though. I'm trying a 'look after the pennies' approach. I have taken food in to work the past couple of days which I am really pleased with myself about. I have also stopped snacking on biscuits/chocolate/cake etc and this is also saving me money as I'm sure I spend about a fiver each week grabbing these things when I'm out and about.

Facing up and cracking on

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