Mrs S, family life and debt

This is my 4th diary. I'll link the others in case anyone has absolutely nothing to do and fancies a read!

Diary 1: MrsS is getting serious http://forums.moneysavingexpert.com/showthread.php?t=5045594

Diary 2: Debt free before 35 http://forums.moneysavingexpert.com/showthread.php?t=5286098

Diary 3: A pound stretching maternity
http://forums.moneysavingexpert.com/showthread.php?t=5495440

So, who is Mrs S?

I'm in my [STRIKE]mid[/STRIKE] early 30's and a mum to 2 lovely little boys. My second maternity leave is just coming to an end (sob). I'm a teacher but looking for a career change. I mentioned this career change back in diary 1, but I'm finally doing something about it. I have 2 job interviews next week and I'm still searching and applying for others.

Debt

I guess I wouldn't be starting a new diary if I didn't have any debts. Maternity leave and retraining has meant that the debt we had beforehand has increased. Significantly. I'm gutted, but from the retraining side, I just had to do it. Today, our debts stand at:

Loan: £9,906.30
Credit Card: £6,480.60

We also have a mortgage of £92,720.52

Excluding the mortgage, our current debt figure is £16,386.90. :eek: That's massive.

So what are we doing about it?

Not adding to it any more, that's to start! The problem is that a lot depends on whether I find work quickly. In an ideal world I will be working by September (even if it's something unrelated to what I actually want to do, as we need a second income).

Using YNAB. I've used YNAB for a few years now, and love it. It's so clear in showing how much money we actually have, and splitting it between different pots.

Paying £266.40 towards the loan every month, and around £65-£70 towards the card. The card is a very recent balance transfer, so not 100% sure on exact figures yet, but 1% is the minimum balance. I'm not sure whether to stick with the minimum, or a set amount each month. The set amount won't be much higher than the minimum, but obviously won't decrease every month. Possibly £65 per month. That means we will be paying £331.40 towards our debt each month. At this rate it would take 50 months to clear. 4 years, 2 months.

Budgeting and treats

I allow treats. They're budgeted for. I would fall flat on my face if we weren't allowed our treats. We do have little breaks away sometimes (not abroad, we haven't been abroad since our honeymoon). We save for them, though and pay with the money we have and not add to the debt. We have the odd takeaway and meal out, we have days out. I treat the boys on their birthdays and Christmas. I have this year started paying into Park for Vouchers in time for Christmas. I've budgeted for that every month.

We put money into our car pot each month for the MOT and any extras it needs. Our car is 12 years old, and up until recently hasn't needed anything doing to it. A couple of little things are starting to need changing now so I'm hoping we'll have a few more years before the car get sorted too expensive. I do love my car! It's nothing special, not fancy and was cheap to buy with low mileage (we've had the car about 5 years).

Right, I've probably bored anyone who's reading this enough for a first 'All about me' post.