Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • JoJoC
    • By JoJoC 26th Jan 17, 12:20 PM
    • 1,776Posts
    • 6,473Thanks
    JoJoC
    Getting my shhh together
    • #1
    • 26th Jan 17, 12:20 PM
    Getting my shhh together 26th Jan 17 at 12:20 PM
    It's January 2017 and I want to make a stand against myself.

    I will let me sabotage myself no more and I will take control and make my finances better!

    Where to begin? Good question! Since my husband and I bought our first house together in 2009, we have bad financial decision after bad financial decision. Not through stupidity, but a combination of naivety, laziness and lack of foresight. We are very impulsive people and it's quite tricky to rein that in when it comes to finances but we've had endless talks over the last few months and 2017 is the year that we sort our sh!t out!

    A combination of astronomical childcare costs, unpaid maternity leave, paying the mortgage for our flat when it isn't let (second property) and a few other things has meant that the last 2.5 years have been really tight and we have built up some debt that I really want to reduce. I'll declare it below!

    Credit card 1: 6,000 (on 0% interest)
    Credit card 2: 3,800 (not yet on 0% interest)
    Overdraft: 600
    Owe to MIL: 120
    Owe to uncle: 700

    I CAN tackle this in 2017 because:

    - My eldest son is starting school in August, meaning i'll be saving on nursery fees
    - I have just started a new job and my earnings will increase by around 200 per month
    - My husband is busy with additional work in the form of 'homers' over the next couple of months

    Hurdles/ challenges/ costly things happening:
    - My sister's wedding in September
    - My sister's hen weekend in September
    - It's my mother in law's 60th and we are going away for a few nights to a cottage to celebrate
    - Husband is going on my brother-in-law's stag weekend to Prague
    - We need to save for spending money as my company is paying for myself and husband to go to Thailand for a week for work.

    As you can see, the opportunities to save, to rein in what we are spending and to pay off debts are there, but it's such a busy year of commitments so I know it's going to be hard going.

    How am I going to achieve this?

    Change the setup of our banking
    It's currently one big bank account for all income, bills and spending but that's not working for us at all, particularly because we have massive outgoings so I want to switch to having a bills account, a spending account and a savings account.

    Spend time weekly on budgeting
    I have set up a comprehensive spreadsheet detailing when money comes in, when it goes out, when money is transferred to savings and when money is transferred to spending accounts. I want to ensure that this is kept on target and we aren't left short so I want to spend time every Sunday night when my husband is at football going through our finances and the spreadsheet to make sure everything is running smoothly and tackle any adjustments that need to be made. I'm paid monthly and my husband is paid weekly so it's a tricky balance.

    Striking the balance
    I need to strike the balance between paying off debt that we have and saving up for the things that we've committed to this year - I know if I focus on debt alone, we'll end up further in debt to cover things. Vigilance is the key and I will need to keep on top of what we can and can't afford to do. Considered choices will work best and looking ahead to see what's coming up will help too. I want to tackle the family debt first, particularly as they are the smallest debts and the ones that I feel bad about the most.

    I appreciate that there's a lot of debt-free diaries on here and this one isn't solely about hammering debt, but I think it's important for me to be accountable and I want to make changes rather than plan then just bury my head in the sand.

    Any encouragement along the way would be appreciated!
    CC1: 4481.14/ 5031.14 (12% paid off, 600) | CC2:3307/ 3807 (14.4% paid off, 550) | Loan: 10,528.20/ 15,792.30((33% paid off, 5,264))

    July debt total: 24,630.44 | New debt total: 18,316.34 | Total debt paid: 6,414.10 (26%)
    *My debt busting and savings diary*
Page 49
    • JoJoC
    • By JoJoC 14th Feb 18, 9:49 AM
    • 1,776 Posts
    • 6,473 Thanks
    JoJoC
    I've just managed to get one but it says my connection speed is too slow! It was a really good one as well!
    Originally posted by Mumoffourkids
    I keep getting an error message which is rather frustrating.
    Originally posted by redofromstart
    How irritating for you both! My internet crashed earlier just as I was trying to do one so had to attach my phone as a personal hotspot to complete it. Frustrating, isn't it?
    CC1: 4481.14/ 5031.14 (12% paid off, 600) | CC2:3307/ 3807 (14.4% paid off, 550) | Loan: 10,528.20/ 15,792.30((33% paid off, 5,264))

    July debt total: 24,630.44 | New debt total: 18,316.34 | Total debt paid: 6,414.10 (26%)
    *My debt busting and savings diary*
    • JoJoC
    • By JoJoC 14th Feb 18, 9:52 AM
    • 1,776 Posts
    • 6,473 Thanks
    JoJoC
    Under 20k! That would be so amazing, I can only dream *sigh*

    I know what you mean about it feeling slow, but it's all going down...
    Originally posted by boxofpaws
    Yes, and that's what I keep telling myself!

    Hang on, your signature says 27k left so you're not a million miles away from sub-20k compared to some! Look how much you have brought it down already?

    Loving the word of the day reference. Sub 20,000 will indeed feel more manageable. It did for me. Have a good day JoJo
    Originally posted by doingitanyway
    Glad to hear you say that - I feel like it's less of an unachieveable figure when it goes below 20k. haha I'm hoping that my word for today will be much less pessimistic!

    I know what you mean, I would be the same though I think I would constantly be thinking about it dropping down xx
    Originally posted by kindofagilr
    I am trying not to, but I'm thinking about it a LOT! It's going to be such an anti-climax next week...
    CC1: 4481.14/ 5031.14 (12% paid off, 600) | CC2:3307/ 3807 (14.4% paid off, 550) | Loan: 10,528.20/ 15,792.30((33% paid off, 5,264))

    July debt total: 24,630.44 | New debt total: 18,316.34 | Total debt paid: 6,414.10 (26%)
    *My debt busting and savings diary*
    • kindofagilr
    • By kindofagilr 14th Feb 18, 10:00 AM
    • 6,203 Posts
    • 20,864 Thanks
    kindofagilr
    Aww no it will still be awesome when you do it xx
    POAMAYC 2018 #87 Paid 1906.53/12,000 ~ 15.88%
    POAMAYC 2017 #87 Paid 10,380.18/10,000 ~ 104%
    POAMAYC 2016 #87 Paid 7454.80/7000 ~ 106%


    Mortgage (Start Date 01/04/09 ~ 30 year term, due to end 01/07/39)
    104,409/85,093.24 (as of 31/03/18) ~ 18.50% Paid

    Christmas Savings 2018: 70 Cash ~ Amazon Vouchers: 0
    Cyprus 2019 Savings: 500/6000 ~ Centre Parcs 2019 Savings: 0/1500

    My Debt Free Diary (Link)
    • Storm89
    • By Storm89 14th Feb 18, 10:37 AM
    • 481 Posts
    • 846 Thanks
    Storm89
    Glad the surveys are picking up jojo. I totally agree about being in the teens but then I bet it drags whatever it is. At it's highest our debt was just under 20k and I remember seeing people with about 16k and thinking that would be so much more manageable. Now I'm in that bracket though it's moving really slowly ! We are like you & have 3 debts that go out different times. Barclaycard is beginning Sainsbury's is middle and mbna is the end. But it doesn't half drag does it. Childcare is a bummer but then the free prescriptions and university is a bonus so it's swings and roundabouts. I also like how kids are a little older when they start school over there. Just those few months are beneficial. So glad to be catching up on here I've missed it x
    • JoJoC
    • By JoJoC 14th Feb 18, 3:16 PM
    • 1,776 Posts
    • 6,473 Thanks
    JoJoC
    Unfortunately, I fear that this debt-paying train will be moving slowly for both of us until it's gone! I don't know about you, but I'm ok with that because I feel like it's been accruing over a number of years so why should it be paid off in a jiffy? Nice as that would be, it wouldn't do me any favours or teach me anything.

    Great to see you back on here too

    The kids go to school here age 4 or 5 mostly. My son went when he was age 4 and 8 months which i still thought was pretty young (there's younger than him there, up to 3 months younger) but my youngest son will be 5y1m just because of when his birthday falls of course. It's good that they can go fairly young (providing they're ready) as if I had to wait another year to send my eldest, I'd be doubly as skint as I am now and he would be SO bored. He was more than ready for school at his age.
    CC1: 4481.14/ 5031.14 (12% paid off, 600) | CC2:3307/ 3807 (14.4% paid off, 550) | Loan: 10,528.20/ 15,792.30((33% paid off, 5,264))

    July debt total: 24,630.44 | New debt total: 18,316.34 | Total debt paid: 6,414.10 (26%)
    *My debt busting and savings diary*
    • JoJoC
    • By JoJoC 14th Feb 18, 3:50 PM
    • 1,776 Posts
    • 6,473 Thanks
    JoJoC
    Onepoll Rage!
    Just logged into Onepoll and there was around 10 surveys on there - I thought "Great! I'll be able to cash out if i make it through most of these!".

    Did around 5 of them and got to 39.90 then the remaining 5 just instantly screened me out without even asking me any questions! That's got to be deliberate, hasn't it?

    Humph.
    CC1: 4481.14/ 5031.14 (12% paid off, 600) | CC2:3307/ 3807 (14.4% paid off, 550) | Loan: 10,528.20/ 15,792.30((33% paid off, 5,264))

    July debt total: 24,630.44 | New debt total: 18,316.34 | Total debt paid: 6,414.10 (26%)
    *My debt busting and savings diary*
    • Mumoffourkids
    • By Mumoffourkids 14th Feb 18, 4:23 PM
    • 615 Posts
    • 2,959 Thanks
    Mumoffourkids
    Oh no what a nightmare with onepoll. I hope you get another survey soon.

    My youngest will go to school when she is four and 1 week, but I am sure she will be ready for it with having five older brothers and sisters at home! She is also tiny so as well as being the youngest she will probably look as though I am sending her a year too early

    But roll on having minimal childcare fees!
    Total debt Dec 2017 23090.83
    Ma7 2018 4621.78 79.98% paid
    Emergency fund 100/600
    Total Savings 1258.62
    • fatrab
    • By fatrab 14th Feb 18, 4:37 PM
    • 834 Posts
    • 1,851 Thanks
    fatrab
    Onepoll Rage!
    Just logged into Onepoll and there was around 10 surveys on there - I thought "Great! I'll be able to cash out if i make it through most of these!".

    Did around 5 of them and got to 39.90 then the remaining 5 just instantly screened me out without even asking me any questions! That's got to be deliberate, hasn't it?

    Humph.
    Originally posted by JoJoC
    I'm sure I read somewhere if it does this you need to recommend a friend to get over the last hurdle...
    You can have results or excuses, but not both.
    May's targets - Lose 1 stone - 6lbs off, 21/31 AFDs, 13/18 lunches.
    37 x 2 coins (#32) - Wannabe debt free by Dec 2022
    • fatrab
    • By fatrab 14th Feb 18, 4:38 PM
    • 834 Posts
    • 1,851 Thanks
    fatrab
    From MSE:

    https://www.moneysavingexpert.com/family/make-money-surveys
    "One bugbear of OnePoll users is getting stuck on 39.90, then not having any more surveys available for weeks. If that happens, try referring a friend to hit the threshold; you get up to 4 for each one who signs up."
    You can have results or excuses, but not both.
    May's targets - Lose 1 stone - 6lbs off, 21/31 AFDs, 13/18 lunches.
    37 x 2 coins (#32) - Wannabe debt free by Dec 2022
    • JoJoC
    • By JoJoC 14th Feb 18, 4:39 PM
    • 1,776 Posts
    • 6,473 Thanks
    JoJoC
    Yes, that's the dream isn't it? Without wishing their lives away, it'll be amazing to not have to pay out hundreds of pounds every month on nursery fees. I have until August 2020 until I'm completely free but looking forward to it going down again in August/ September this year. I'll feel like a queen when I'm only paying 2x after school care.

    I'm sure your DD will be fine - she'll have all the older siblings to show her the way and she'll be used to the concept of school too with them all going.
    CC1: 4481.14/ 5031.14 (12% paid off, 600) | CC2:3307/ 3807 (14.4% paid off, 550) | Loan: 10,528.20/ 15,792.30((33% paid off, 5,264))

    July debt total: 24,630.44 | New debt total: 18,316.34 | Total debt paid: 6,414.10 (26%)
    *My debt busting and savings diary*
    • Mumoffourkids
    • By Mumoffourkids 14th Feb 18, 4:48 PM
    • 615 Posts
    • 2,959 Thanks
    Mumoffourkids
    My youngest will start school in 2020 as well. My fees will go down slightly in April, go down again September and then down again the following September. I can't imagine not having to pay out loads in nursery fees. But there will come a time when it is just maybe breakfast club and after school clubs!

    Oh and my youngest will be fine, she may be small but she is very feisty already
    Total debt Dec 2017 23090.83
    Ma7 2018 4621.78 79.98% paid
    Emergency fund 100/600
    Total Savings 1258.62
    • JoJoC
    • By JoJoC 14th Feb 18, 6:17 PM
    • 1,776 Posts
    • 6,473 Thanks
    JoJoC
    From MSE:

    https://www.moneysavingexpert.com/family/make-money-surveys
    "One bugbear of OnePoll users is getting stuck on 39.90, then not having any more surveys available for weeks. If that happens, try referring a friend to hit the threshold; you get up to 4 for each one who signs up."
    Originally posted by fatrab
    Thanks for that advice - i'll give it a go!

    Just sesn this: You can refer up to 15 people and you will receive 50p for each person that signs up and answers a survey.

    So I signed up under other details and took a survey so we'll see if it works.

    It really is a cheeky way of doing things. I've put in the work to answer the surveys! Don't delay paying me because it suits you!
    CC1: 4481.14/ 5031.14 (12% paid off, 600) | CC2:3307/ 3807 (14.4% paid off, 550) | Loan: 10,528.20/ 15,792.30((33% paid off, 5,264))

    July debt total: 24,630.44 | New debt total: 18,316.34 | Total debt paid: 6,414.10 (26%)
    *My debt busting and savings diary*
    • JoJoC
    • By JoJoC 14th Feb 18, 6:19 PM
    • 1,776 Posts
    • 6,473 Thanks
    JoJoC
    My youngest will start school in 2020 as well. My fees will go down slightly in April, go down again September and then down again the following September. I can't imagine not having to pay out loads in nursery fees. But there will come a time when it is just maybe breakfast club and after school clubs!

    Oh and my youngest will be fine, she may be small but she is very feisty already
    Originally posted by Mumoffourkids
    That's a nice decline in payments - better than a sudden bung of money that I'd be tempted to spend!

    We'll have gone from 1400 p/m in 2017 to around 260-300 p/m in 2020
    CC1: 4481.14/ 5031.14 (12% paid off, 600) | CC2:3307/ 3807 (14.4% paid off, 550) | Loan: 10,528.20/ 15,792.30((33% paid off, 5,264))

    July debt total: 24,630.44 | New debt total: 18,316.34 | Total debt paid: 6,414.10 (26%)
    *My debt busting and savings diary*
    • Mumoffourkids
    • By Mumoffourkids 14th Feb 18, 7:02 PM
    • 615 Posts
    • 2,959 Thanks
    Mumoffourkids
    Mine has never been as high as yours but it was around 1100 sometimes 1200 but that's only for 3 days a week. When youngest goes to school, I reckon it will only be about 100 a month. What a difference!
    Total debt Dec 2017 23090.83
    Ma7 2018 4621.78 79.98% paid
    Emergency fund 100/600
    Total Savings 1258.62
    • Suffolk lass
    • By Suffolk lass 14th Feb 18, 8:55 PM
    • 1,968 Posts
    • 20,585 Thanks
    Suffolk lass
    Without wishing to be a kill-joy, I remember it well when our Son went from nursery to school. We were expecting to be much better off but the short days, long holidays, with breakfast club, after school clubs, homework club, child-minders, holiday play schemes and taking separate holidays so you and your spouse can share the holiday cover all take their toll and you pays your money as they say. Mind you my parents were 435 miles away and DH's parents were 300 miles away... was it something we said?
    MFiT T4 #2 update 88.72% after Q9 tiny bit ahead of where I should be
    Save 12k in 2018 #53 - after March 19.96% 1,996.19/10,000 5.04% behind
    OS Grocery Challenge 2018 spent 721.33/3,000 including stores so far 24.04% of my annual budget at the end of April
    My DFD is here
    • Mumoffourkids
    • By Mumoffourkids 15th Feb 18, 6:41 AM
    • 615 Posts
    • 2,959 Thanks
    Mumoffourkids
    I don't know about JoJo, but that shouldn't happen to me. I have six kids and it's only the youngest two that go to nursery. The older four are all at school. I only work part time and I pay breakfast club three days a week for the middle two who are at primary on the days I work. I then am able to finish to get to school to pick them up. These two and the next one up go to a fantastic holiday club who does discounts for siblings in holidays whilst I work. I put money aside each week to cover extra childcare in school holidays. I too have no help from family or the kids dads really. My mum lives in France, my dad lives about a two hour drive away and I'm on my own living somewhere where I didn't grow up so don't know many people!
    Total debt Dec 2017 23090.83
    Ma7 2018 4621.78 79.98% paid
    Emergency fund 100/600
    Total Savings 1258.62
    • JoJoC
    • By JoJoC 15th Feb 18, 9:32 AM
    • 1,776 Posts
    • 6,473 Thanks
    JoJoC
    You're less of a kill-joy and more of a realist, Suffolk! I do need that sometimes

    In reality, we should be ok for the next few years unless my job changes (which it shouldnt). I work full time but it's 3-4 days per week from home. My eldest goes to after school club three days per week which works out around 120/130p/m. By the time the second one goes it may have gone up in price slightly but they also do a sibling discount.

    Because I work from home, I'm able to shave costs off after school club and during the summer, because we're taking two weeks off and I'm keeping him at home with me three days per week, i only need to send him to holiday club 12 days total over the whole summer...basically, this year it seems like we are managing to juggle it with minimal extra childcare costs. I overpay into my childcare account monthly so that it builds up and cushions the expensive months like over the summer. We'll see how this year pans out as it's the first year then i'll be able to reflect that across future years. Also, my MIL and BIL work shifts so depending on their shift pattern, they're always happy to take the kids if need be (although it's always fairly last minute that they know their shifts so not always the most reliable).

    The flexibility of my job helps hugely in this!
    CC1: 4481.14/ 5031.14 (12% paid off, 600) | CC2:3307/ 3807 (14.4% paid off, 550) | Loan: 10,528.20/ 15,792.30((33% paid off, 5,264))

    July debt total: 24,630.44 | New debt total: 18,316.34 | Total debt paid: 6,414.10 (26%)
    *My debt busting and savings diary*
    • Scott_Weiland
    • By Scott_Weiland 15th Feb 18, 9:58 AM
    • 799 Posts
    • 2,013 Thanks
    Scott_Weiland
    I experienced this last one poll time I got to 39.80 it took weeks to get to 40quid gerrrrrrrrrrrrrrrrr
    Cashback Earnings YTD 46.04 Survey Earnings YTD 182.66
    "Always always train, be the best version of you that you can physically be"
    • JoJoC
    • By JoJoC 15th Feb 18, 10:47 AM
    • 1,776 Posts
    • 6,473 Thanks
    JoJoC
    Onepoll victory!
    Well, my recommend a friend attempt worked and I woke up this morning to having passed the 40 threshold! Hooray! Cashed out 40 by BACS so will take up to 28 to be in my account but at least the wheels are in motion.

    Back to 40p balance, 24.60 to go!

    Prolific victory
    I also managed to cash out on PA this morning - 20.02 so that will be in my account in the next couple of days. This and the onepoll cash will be going into my holiday pot to boost the funds. The next thing I'm saving for in here is car hire for our summer trip/ spending money so every penny counts

    Other news
    Not much else to report - I had a NSD yesterday and had a really good workout at the gym last night so feeling good, despite having a cough and sore throat. Another workout on the cards tonight and yoga on Friday should keep me on the straight and narrow!

    It's cold and wet and miserable here today so i'm trying to maintain a positive and motivated attitude despite this! Lights are on, I'm about to light a lovely candle and make myself a coffee. It's the little things...
    CC1: 4481.14/ 5031.14 (12% paid off, 600) | CC2:3307/ 3807 (14.4% paid off, 550) | Loan: 10,528.20/ 15,792.30((33% paid off, 5,264))

    July debt total: 24,630.44 | New debt total: 18,316.34 | Total debt paid: 6,414.10 (26%)
    *My debt busting and savings diary*
    • Storm89
    • By Storm89 15th Feb 18, 10:59 AM
    • 481 Posts
    • 846 Thanks
    Storm89
    I can imagine wraparound care soon adds up actually. I don't pay any childcare fees anymore but it is ridiculous . My friend's daughter started school the day after her 4th birthday she was so little ! There's so much expected of them now compared to when I was younger and at school .
    I am relatively happy with it being a slow process , because we've got so much to look forward to whilst paying it down. I think that's a really good way to look at it, that it didn't accumlate quickly so you're not going to pay it down quickly. I am a little impatient though and would like it gone sooner I have to say. Sorry you're a little under the weather jojo, enjoy your coffee though and well done on the workouts x
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,243Posts Today

8,500Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin