University Challenge x 2

Plain_Jane · 30 July 2017 at 9:04PM

Hi everyone, you all seem such a friendly bunch and I've been reading some of your diaries for a long time. I thought it was time I joined in and added my own diary for some help and encouragement.

My name is quite boring but I haven't got a very creative mind today so may think of something better at a later date.

So my title says it all really. Our DT (darling twin girls) were born 19 years ago in September. So you'd think after the shock of having two children at the same time we would have thought that at some point they will reach the age where they could well want to go to uni!

No not us, we lived each day as it came getting ourselves into a mountain of debt without a thought for the future. In 2002 this debt reached £66k - LBM number 1 came along. We entered a dmp and spent the next 12 years scrimping and saving. In 2014 my dearest and lovely Dad passed away. The worst thing that has ever happened to me. About 6 months later his inheritance arrived and the first thing we did was pay the remaining £23k off our debt. The relief was amazing, it's such a shame something bad had to happen to get there.

The remaining money we used to update the house as it had not had much love. So you think lessons learned we are free of debt apart from the mortgage. Oh no, I obviously thought we were invincible. The children were older and still talking about uni but we hadn't lived for so many years and all of a sudden credit was available to us. We went on holiday a couple of times and had weekends away, spent very unwisely on a day to day basis and bought shoes, clothes and everything else we thought we could afford now but really we couldn't.

So here we're are, girls hopefully getting into uni in September, upset about having an empty nest all in one go and £40k back in debt.

I've spent the last month overhauling the budget but nowhere near to the point that some of you do - I think you are all amazing. I have chopped small things out which have added up and the next thing to go is our storage unit where we dumped everything after losing 3 parents and a sister in quick succession. We cannot afford £172 a month for this. So my diary is all about cutting down, minimilising and hopefully losing weight along the way as I think these things can go hand in hand.

Hope you've all had a great weekend and looking forward to talking to you all.

PJ

UncannyScot · 30 July 2017 at 9:15PM

Hello and welcome

Join in, read, comment and ask us anything... we are happy to help

System · 30 July 2017 at 9:22PM

Welcome look forward to your diary unfolding. Had 2 children at university so know the costs that can be incurred.

Plain_Jane · 30 July 2017 at 10:35PM

Thanks to you both.

I would be so grateful to hear about the Uni costs. At the moment we will be £400 in the hole every month just on accommodation if their plans come to fruition. They are both intending to find jobs in their chosen towns which I hope will help but I'm working on the understanding that we will be funding it and any extra will be gratefully received.

They both have cars for which we have loans outstanding, we pay the costs on those too apart from petrol. We also pay both mobile bills. I have said this cannot continue. It sounds like we are flush with money which we are not we just wanted the best for them I suppose. Hence the £40k in debt. I had help with cars when I was younger. DH did not though - he had to fend for himself at age 19 as his parents moved away so he thinks I'm too soft.

I've worked out when the loans will be repaid and as they happen I will add those monthly amounts to clear down the debt.

Our boiler broke last month so we have just had a new one on 0% finance - I think this is where I started to panic about money.

I've set myself reminders to:
Daily -
Clear a box from our storage unit - Divide to keep, throw, sell
List an item on fleabay or local Facebook sites
Put odd pennies away on bank account and from purse
Look after budget and reconcile daily
Taking a serious look at the food budget which everyone seems to think is a never ending pot

I'm going through the ppi claiming route at the moment and putting that aside for accommodation deposits as well.

Here's to the next three years - ouch!! X

Scott_Weiland_2 · 30 July 2017 at 11:31PM

God your diary is worrying me I have a 14 year old who plans to go to uni lol

Re divide/throw/sell plan have a look at the following sites

Www.ziffit.com and webuybooks.co.uk and lastly music magpie all will buy books/cds/dvds/xbox or playstation games etc they dont charge any postage.

My dealings with fleabay unless its a brand new dvd or cd etc your will get bot all in the way of money for the item and you have to pay postage. These guys you list your stuff they send you a postage label, you go to the local collect plus place then your done.

Join topcashback or quidco its another way to bring in a few extra pennies, anything you do online theres pennies to be made. (See my signature)

Check this link out too an extra way to bring in a few pounds if you have the time, i would recommend opinion outpost and prolific academic.

http://www.moneysavingexpert.com/family/make-money-surveys

Plain_Jane · 31 July 2017 at 8:51AM

Hi Scott

Thanks for your advice I'll look at this tonight when I get home from work. I have done my cd's through music magpie so that's a start. I've also signed up to prolific but nothing has come from them yet. DH has boxes of books he needs to go through so the book site sounds ideal - it's just prising them out of his gripping hands that'll be the problem.

Any further advice would be appreciated - head is definitely out of the sand!

Plain_Jane · 31 July 2017 at 7:43PM

Quite a productive day today:

Took dogs on 3 walks (they still have energy!)
Listed some Dr Who memorabilia on all the local FB sites - if they don't go then will look at the book selling sites
2 washing loads
Big win - had 4 PPI letters offering a total of £966.00 - the company we use will take nearly half but we would never of done it on our own so it's a win in my book. This will pay for accommodation deposits at Uni.
Paid off £200 to my Halifax card with a balance of over £5k.
Went to gym after work
DH is cooking tea and one of the DT's will wash up.

Then catching up on all your lovely diaries.

PJ

System · 31 July 2017 at 8:13PM

My 2 both lived at home when they went to university which as a lone parent was the only way they could do it. The extra expenses for my daughter who is a nurse were books and travelling. As nurses start work before buses start, so a car was a necessity. They even have to pay for uniform up front, but she did get a bursary every month frugal as it was. My son also had travel costs. They both worked during university years my daughter when not on placement did shifts as an auxiliary on the ward she was training on. Her and her now husband bought a house during her last year at university. They have both been fortunate to leave with no debt. It is different for your children though as the fees arel a lot more.
I think food needs to be well budgeted for when they are in halls . It's all a learning curve I guess.
Your children are very lucky you are able to support them so well .

beanielou · 31 July 2017 at 9:49PM

Happy shiny new diary.
MY DS had to pay his own way.
So your DD's are very fortunate.

Plain_Jane · 1 August 2017 at 7:40PM

Thanks both - the reality is we haven't really been able to support them so we are in debt again. They know the score, our help can't go on. One of them has a summer job in a cafe in our town - she's on min wage but loves it and is saving towards Uni. The other one works on odd events at a local famous stately home but they are drying up now.

I have listed 2 items on EBay and local sites today.
Had to get petrol so £45 plus £3.95 for lunch at DD's cafe - been promising for ages I would go in. Spent 40p on 2 cups of hot water from works tea trolley - bring my own tea bags. No credit used though.
Been to the gym.
Walked dogs.
Put a whole 5.44 from odd balance in current account to savings pot wahey!!!

Really enjoy reading through all your diaries for inspiration.

Plain_Jane · 1 August 2017 at 7:52PM

Also signed up to Opinion Outpost - I've not been eligible for one survey yet - infuriating!!

University Challenge x 2

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free