£16,000 debt, turning regret into positive action.

Hiddenidenity · 25 June 2017 at 11:24AM

Keep going! you're doing fab.

LadyP01 · 27 June 2017 at 6:01AM

Thank you hidden identity

Had a good day yesterday, had to pay out for phone repairs but it was a lot cheaper then it could have been. Also picked up a good gift in primary to put aside for Christmas and found there candle range, smells great and there so cheap so iv purchased one to try and if it's good and lasts I'll get a couple as stocking fillers as the smallest ones are only £1.

Budget is all set for July. Busy month for us with a holiday and some birthdays. So the money I'm actually putting towards paying off debt is low in July. I still think there's room for some more savings so as the month goes on I'm going to see what I can cut, stay in more etc.
I also have about £80 in expenses I need to chase so that is a to do for this month.

Chandelier. · 27 June 2017 at 10:36AM

Sounds like you're doing well

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July/August always seem to be the busier/spendier months here too. Just think of it this way though, the payments may be low but you're still making a payment regardless

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I'm finding although I have a budget in place I'm still able to find ways to save money in different areas. At times I overestimate what I actually need to pay out and move this into the pot for the next month.

Have a good day

LadyP01 · 28 June 2017 at 6:33AM

I find the same especially my food budget, last month I cut it right back to £10 and made use of everything in the house rather then buying new stuff.

Woke up to some great news this morning... I got a bonus! So that's £200 extra I have to throw at debt so should bring some of that debt back down.

I am wondering if anyone has any advice for holidays? We're having a two week holiday that we planned before I started this but I still want to go. I go out once a month as this is a compromise I'm happy to make so I can have this holiday. I have already saved up the budget for the holiday so the money is there. I'm looking to do it mse though. And although iv looked st self catering I'm wondering if its actually cheaper? Is we were to spend £50 on food and drink a day each that's £700 and then the holiday would be around £300. We have Oportunitys to bring that down say to £35 a day depending on the country and £1000. if we have breakfast and lunch on the apartment but that still brings the total to £790. All inclusive is looking at around £900- £1200 but we could eat like kings. I'm a true self catering holidayer and always have been so I know all the tricks in that department but this is two weeks so I'm stuck on what really will be value for money.

MandM90 · 28 June 2017 at 6:50AM

Hi LadyP01, do you have all the money saved for the holiday? I would start from what you have in your fund, and then look around, rather than looking and trying to stretch your budget and extending the time you have this nasty debt hanging around your shoulders. You've done so well and it would be horrid to tarnish a holiday with regret/guilt! All inclusive makes you feel like you're eating like a king but it's usually all cheap carbs and booze.

Would you consider camping on the south coast or something? When we were in debt we got a tent for £70 from eBay and went camping. We put spices, herbs, drinks etc in the back of our car and then cooking was no more expensive than home. We had a pub lunch one day and the rest of the time we did free things (museums, sunbathing, walks, cycling)...just a thought. Otherwise, I'd find the cheapest break abroad you can find. There will always be more holidays but being free of this debt feel far better than any money spent now.

Glad you've cut down the Gifts and Christmas section. Was going to jump in and say that we spend less than you on both of those, as a family of three with no debt and two higher rate taxpayers. We only buy for kids, everyone else gets jars of homemade jam or I sew them something. On Xmas morning we host a buffet breakfast for family and that's our 'gift' to them, but of course it's done on the cheap!

LadyP01 · 28 June 2017 at 10:51PM

Hey mandm90 thanks for the advice loving the sound of the Christmas breakfast. I'm loving finding all these great gifts for everyone on the cheap I'm always so savvy but this year I'm more so.

Iv just had a frank conversation with oh about the holiday and I said I'd look into cheaper options maybe reducing the time. We are going in winter so abroad is the ideal but I said we need to think about what we really want. I have the money already sitting there waiting for pay for the holiday I also have my money for airport parking, insurance and some holiday clothes that will all come from charity or sales sorted aswell so no extra expense but if I can save some of that money I can chuck it on the debt pile. I'm thinking one week self catering is going to be the cheapest option x

LadyP01 · 1 July 2017 at 10:58AM

First weekend of the month and I'm off. Thinking of cooking up a picnic and taking the oh for an outdoor dinner picture at a view point.

Also this weekend I want to get around some charity shops and see what's about.
I need to wrap some presents for my friends.
Buy some bits from the pound store I wanted to put with gifts.

I also want to look at the food shop. I don't actually pay for the food shopping but I do top it up with fresh fruit and veg mid week. We've hit even more financial strain as everyone is feeling the pinch and I'm mid shake down so I want to have a look at the forums for cheap healthy meals we could be making. Cheaper then ones we already currently have.

This morning I need to pay my card and make sure I have paid all my bills and put money where it needs to be

LadyP01 · 1 July 2017 at 1:00PM

Bills done &#55357;&#56842; Iv paid off another £766 to my debt.

This month will be slow and that will be my lot as like iv said before I have a birthday outing, weekend away, I also have an mot due aswell. All of these things iv already saved for and put aside. Iv known they are coming since I started this journey so I had been putting money away each month ready for it.

dionysia · 1 July 2017 at 1:54PM

£766 off your debt is great, well done! :T And well done for having everything planned out and money set aside for the upcoming costs - I'm just at the point of starting that now and knowing I understand what's coming and what it means for my spending/debt plans is helping so much.

LadyP01 · 2 July 2017 at 12:22PM

Thanks dionysia, as you know iv popped by your board nice to see other people tackling the same debt as me I don't feel like such a fool then.

Today is a job smashing day and cleaning etc so my main goal is to sort out the presents iv purchased and get them all wrapped and see what else I need.
Struggling for a 3 year old boy ATM so any ideas would be great. Need to keep it lowish as his brother had a hand made present that only cost £10 because that's what he wanted but I like to keep it even between them.

Iv also spent a lot of the weekend talking with the oh about kids and mortgages and I really want to be building a future for us but I feel so foolish building this debt and realising so late that I needed to truly sort myself out so I can start to have a family.
The mortgage is what I worry about and how long it will take me to build up a deposit. My debt free day will be next summer and then it won't end as I need to save for the mortgage. I'm just wondering if I'll ever get there. Will I hit my goal of looking for a property by next Christmas? If I do the maths I should be ok but it also makes me angry as I could have had £16,000 extra to go towards my mortgage.
I'm also thinking more about this holiday. I don't need to go yes we would love to go and we still want to go but on reflection that £1000 will get me to where I want to be quicker it's just heart breaking to give up something that you want so badly. Although I want a future and a house more then I need to have that holiday I guess.
Just having one of those days

£16,000 debt, turning regret into positive action.

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