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    • Storm89
    • By Storm89 3rd Jan 18, 2:45 PM
    • 481Posts
    • 846Thanks
    Storm89
    2 years to smash the debt !
    • #1
    • 3rd Jan 18, 2:45 PM
    2 years to smash the debt ! 3rd Jan 18 at 2:45 PM
    I'm starting a new diary because I didn't keep my last one up and I'm feeling rubbish about not paying off as much as I had wanted. My last target was to be debt free by the summer of 2020 but I'm determined to set a new target of December 2019. Taking it a year at a time though, so aiming for debt to be 10k by December and savings to be 3k (currently have no savings at all). I need to do this for my kids, I wish I could give them experiences and not have to cut back so much because of the silly mess we're in.

    As it stands the debt is
    Credit Card 1 - 6,330.83 0% ends in March
    Credit Card 2- 7,660.01 0% ends in November
    Credit Card 3- 1,873.59 0% ends in June
    Total - 16,027.43
    I need to figure out how to start shifting some of that debt onto other 0% cards soon I just don't know how to go about it. A card we have with zero balance has offered us 0% for 12 months and the amount we could transfer is around 5100 so not enough to cover the card that's up in March. So I'm not sure what to do really about this. I'm considering getting another 0% card but worry we won't get accepted.
    We're a family of 4 with a 7 year old and 4 year old and income from all sources is
    2816

    Outgoings are
    1516.62

    It gives us a surplus of 1299.38. I don't want to put it all on the debt but we're setting aside 500 a month for that. I've also created some savings accounts on my mobile banking that I've named and decided to set aside each month:
    General Savings - 250
    Very- 100
    Clothes- 40
    Center Parcs- 100
    Christmas and Birthdays- 100
    Anything we manage to save on top of this will pay off debt
    Having no savings in 2017 meant I had to use Very to buy things we needed. A hoover, pushchair, washing machine etc. We now have a balance of 1000 on there that's interest free as long as I pay within 12 months of when we purchased the items. I should count this in my total debt but it's too depressing to do so and I'll be paying it off anyway

    I've booked us a little holiday at Center Parcs for October half term. We've not been away at all last year and won't be going anywhere else until then , I just felt that I wanted to get the balance between paying off debt and having a little treat. I'll be using this thread to write my ramblings even if nobody reads it !
    Last edited by Storm89; 03-01-2018 at 2:51 PM.
Page 3
    • fatrab
    • By fatrab 5th Jan 18, 4:42 PM
    • 834 Posts
    • 1,851 Thanks
    fatrab
    Absolutely horrible decision to have to make.


    Keep us posted with your diary, best wishes!
    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
    • Storm89
    • By Storm89 5th Jan 18, 5:35 PM
    • 481 Posts
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    Storm89
    Thank you & I will do. Just making some fairy cakes and a Victoria Sponge cake for when my son finishes swimming lessons. Here's to a frugal weekend!
    • Storm89
    • By Storm89 6th Jan 18, 8:28 AM
    • 481 Posts
    • 846 Thanks
    Storm89
    Good Morning Diary
    Kids were up at 6am as per
    Just having a brew and getting January's finances clear in my head. I have 15 in cash in the house so using 7 of that for DDs dancing lessons today. The change plus other money we've got lying around the house will pay for DS beavers subs. DS has a party this afternoon and I've already bought the present and wrapping paper etc so don't need to worry about the money for that.
    I have however, realised I have 90 to pay off Next by the 22nd - oops forgot about that one. It's a tight month as it is but I had worked out if I stuck to budget I should be left with 36.50 at the end of the month. Then I had an extra 30 from DH's account yesterday which is because he doesn't pay union fee in December and January which I didn't realise. So I only really need to find about 25 to be able to pay Next off which I can probably do cutting costs with food. I'm ready for February to start now when everything has been put on 0% and we can start properly.
    DS will be out for dinner at the party so we'll have beans on toast. Then it's homemade fishcakes with carrot and cucumber salad for tea. Still have cake left from yesterday & some yoghurts in the fridge for snacks. I'm so determined to do this & actually quite excited - writing on here will stop me spending on rubbish I'm sure because I have to write it down!
    • Mumoffourkids
    • By Mumoffourkids 6th Jan 18, 8:33 AM
    • 615 Posts
    • 2,959 Thanks
    Mumoffourkids
    I know what you mean about writing on your diary makes you think about spending money. It's almost like you have to confess on here if you spend any money which I don't want to. Writing on a diary is definitely making me think more about what I spend my money on!
    Total debt Dec 2017 23090.83
    Ma7 2018 4621.78 79.98% paid
    Emergency fund 100/600
    Total Savings 1258.62
    • Storm89
    • By Storm89 6th Jan 18, 8:44 AM
    • 481 Posts
    • 846 Thanks
    Storm89
    exactly that about confessing
    I would feel ashamed to post if I'd spent money on more tat.
    • IrisViolet
    • By IrisViolet 6th Jan 18, 3:41 PM
    • 99 Posts
    • 1,845 Thanks
    IrisViolet
    Hi storm89. I've just read your diary and think you have a great plan. We are in a very similar situation and our debt total is close to yours. We have four kids one who is disabled and another likely autistic. We are also putting 250 aside into savings each month to cover things as like you have been caught out many times. I can totally relate to not wanting the kids to suffer because of our debts. We are very very frugal and take the approach time over presents and money when it comes to the kids. But like to have a bit extra for the extra petrol to visit places at weekends and pay for our National Trust and Zoo memberships.
    We take picnic everywhere and also bake all our snacks. We have fruit for snacks that's all.
    I try and walk as much as possible but I like to make sure we can still do nice things with our children. For instance tomorrow we are going into town to vist the art gallery who have a family art session on. My daughter's LOVE this and it's free. However it costs about 5 to park the car. Sometimes we manage a free parking space but I budget for the parking just in case. If I had literally no spare money then we couldn't even do a free event at weekend because of parking costs and I don't think it's worth it.
    Like you we are hoping to be debt free December 2019. We are paying around 700 towards our debts each month. And have each opened a separate account that no bills go out of. Each month we transfer our months money and that's all we have until it runs out. For me I get more as I buy the food shopping. This year I'm hoping to also save some of my money by shopping better. I've found Aldi is saving me around 30 a week along with going meat free four days a week.
    Will be following your journey. Xx
    • Storm89
    • By Storm89 6th Jan 18, 10:11 PM
    • 481 Posts
    • 846 Thanks
    Storm89
    Hi IrisViolet , thanks for taking the time to read my ramblings. I think we'll increase our monthly payments to a similar figure next year when we don't have Very to save for lol. You sound very similar to how we are doing things now, baking all our snacks. I do buy crisps and yoghurts but we need them for packed lunches at school anyway. I've shopped in Aldi for about 7 years but until I got the savvy shoppers cookbook and her meal plans I couldn't seem to get my bill down & was spending 80 a week in there easily , then going onto Sainsbury's and spending another 20. I did my first shop last week from one of the meal plans on the website and spent only 60- didn't go out for food at all the rest of the week. It's shopping day again tomorrow so will see how I do.
    We also prefer those kind of activities and going on walks etc. We think my eldest is on the spectrum but because he is more 'high funtioning' than my daughter, we are struggling to get the support he needs. Do you have a diary? I'll have a look for it if so. Would be good to have someone to talk to with a similar target. Have a lovely day at the gallery tomorrow.
    • Storm89
    • By Storm89 6th Jan 18, 10:26 PM
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    Storm89
    Today was quite laid back . Dancing lessons in the morning and I used 7 of the 15 I had in the house. DS went to a party in the afternoon and ate plenty of junk food then came back with a huge sweet cone which he offered to share with his sister. After tea, I emptied the sweets into a bowl and they ate them whilst we all watched a film - I just felt so content , especially now I've made a plan for the debt. It's a lot less stressful than how I felt last year.
    We used the AMEX (VA) for petrol today as planned (will be paid off once more money goes in middle of the month) and spent 22. My son is doing a concert with school on Tuesday night and we've already bought the tickets but we were looking at the venue last night and parking is 10 so we'll need to pay that out plus petrol to get there and back which could be another 20.
    It's also my dad's birthday this month and as we don't live near family, we were trying to factor in how much petrol it would cost to travel to his house and drop the present off (already bought and wrapped). But a nice surprise is that my brother is playing rugby in a town not far from us and my dad will be going to watch him so said he'd pop in afterwards - money saved there then.
    DS has been invited to ANOTHER party this month (his 2 friends both have birthdays in Jan) so got to get another present for that . We should still be ok though, I'm just desperately eager for this month to be over !
    • Honeysucklelou2
    • By Honeysucklelou2 7th Jan 18, 6:09 AM
    • 826 Posts
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    Honeysucklelou2
    Just read through your diary. Sorry to read that last year was so tough for you. Balancing paying off debt with living life with children is a tricky one. I'm fortunate that I live a short drive from a beach so that provides free entertainment all year round but budgeting for paid activities is a juggling act.

    Good luck with the debt busting.
    paydbx #93 692/8,000.
    Loan 17k - paid off in Aug 2017. Home improvement loans 3342 March 2017. 3123 in Jan 18
    • Storm89
    • By Storm89 7th Jan 18, 6:58 AM
    • 481 Posts
    • 846 Thanks
    Storm89
    Hey honeysuckle thanks for reading, I had a quick look at your diary you've done so well since starting it. I'm so inspired by other peoples journeys. It must be lovely being so close to the seaside, maybe when I'm debt free we could look at moving - my kids would love to be near a beach ! Paid activities are annoying aren't they. My son wants to learn to play the drums and in september when he had a taster session I told him he could start in January. Now he'll have to wait until the spring when I have more of an idea on our finances. February should give us a better picture of how much we have leftover each month with being frugal (aside from no council tax of course). Shopping today, I wrote my list from a savvy shopper meal plan and the 7 meals for the week should come to 33 so just need to then pay for lunches , snacks (crisps and yoghurts) some more baking stuff and then some cleaning bits.
    Last edited by Storm89; 07-01-2018 at 7:03 AM.
    • charlies tribe
    • By charlies tribe 7th Jan 18, 12:03 PM
    • 760 Posts
    • 5,574 Thanks
    charlies tribe
    Sorry to hear last year was a tough one, hopefully this year will be a lot kinder x
    We also struggle with clubs/activities. The girls swim and thats 25 a week but DD really REALLY wants to do gymnastics. I've said we will look at it. I think we will drop the swimming lesson, which should cover gym and then just keep the club swimming. When on holiday they spend a lot of the time in the sea so i want them to be confident in the water.
    Im going to check out the savvy shopper site once my shopping has been delivered.
    LBM in April 17 - 6655/33554 (19.8%) paid.
    2018 PAID OFF TARGET 1031/5000 (20.6% paid)
    SPC #591
    • Storm89
    • By Storm89 7th Jan 18, 12:52 PM
    • 481 Posts
    • 846 Thanks
    Storm89
    That's it charliestribe , it's finding the money from elsewhere isn't it. I have a phone contract up in March so I'll use the money from that for drum lessons. I feel the same about swimming, I think it's really important. That only costs us 17.50 a month at the moment but my daughter will probably start when she's 5. My son started at 3 but I just don't think she's ready yet emotionally.
    Just done the shopping it came to 60 (paid on VA) so more than I wanted but that's it for the whole week now and got some lovely meals from the meal planner. I need to re-look at my finances based on what's on the VA credit card at the moment, plus everything else due to go out, including the extra expenditure on the concert and the other party my son is going to. I keep saying it but I'll be so glad to see the back of January , I'm really eager to start properly budgeting but need to get through this month first.
    • Storm89
    • By Storm89 7th Jan 18, 1:50 PM
    • 481 Posts
    • 846 Thanks
    Storm89
    Still to go out
    Vodafone - 50
    Disney Life - 5
    Beavers subs -10 (it's 15 a term but I already have a spare fiver)
    Water- 36
    Car Insurance - 14.42
    Tv License - 12.25
    Netflix- 7.99
    Total- 135.66
    NB We've made all the cut backs we are prepared to and it will still allow us to live within a budget and pay off/save what we'd like for this year. So we don't want to get rid of any of the above

    Debt still to go out
    VA- 160 (currently, have 1 more petrol top up to put on this, estimating 20)
    Sainsburys- 172
    Next- 83.98
    Barclaycard- 44 minimum payment + 37 for the pizza (ashamed of this!!)
    Total- 516.98
    Other expenditure
    Concert - 10 parking 20 petrol
    Present for the party - 5
    Dancing- 10.50
    Total- 45.50

    So total to go out from everywhere is 698.14
    Money in Current Account
    415
    still to go in - 520.10
    total - 935.10

    So I have 236.96 for the rest of the month. I'll have another 2 petrol top ups after I've paid off the VA so that should be around 40 (not counting the concert one) Which leaves me with 196.96 for food which is about 65 a week (have 3 more shopping weeks left). Pretty confident I can do that especially with the new cook book.
    My husband was paid January's wages in December , so he had double income which we frittered on Christmas as we hadn't saved throughout the year. He doesn't get paid again until 31st January so that can't come quick enough!
    • IrisViolet
    • By IrisViolet 7th Jan 18, 8:42 PM
    • 99 Posts
    • 1,845 Thanks
    IrisViolet
    Hi storm89. Sounds like you have a really good plan and are keeping well on top of things.
    I don't have a diary atm. I'm contemplating it.
    My daughter is high functioning but she's starting to have lots of problems hence going for a diagnosis now. Her anxiety is high and I think as she's gets older it's becoming more obvious that there is a problem.

    I like the sound of this cookbook. Im going to check out the website.
    I also am counting down the days until DH gets paid on the 28th. I have a good plan for 2018 and all the spreadsheets done and dusted.

    Kids parties are a worry with presents aren't they. I have a 5 limit and get my kids to make a card, wrap on paper they have drawn on or brown paper. I try to get things innsales and have a present box on the go so im not caught out.

    Like you I feel content now to have a good plan and feel like a good year is ahead of us. We had a lovely day in town and a lovely roast dinner at home for tea followed by baths for the kids and some board games . It's the little things and these are what kids notice most not how much money we spend on their clothes xcx
    • Storm89
    • By Storm89 7th Jan 18, 10:20 PM
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    Storm89
    Sounds like a perfect day IrisViolet. I agree the kids will remember those moments much more than the money spent. I hope your daughter gets the support she needs, it's the same with my son as he is more high functioning and it's the anxiety that's crippling him. He self harms also. It's never easy with SEN is it.
    I don't have spreadsheets but got it all written down in a little planner. I am checking all the accounts daily, it gets quite addictive this frugal business haha.
    • Storm89
    • By Storm89 8th Jan 18, 9:53 AM
    • 481 Posts
    • 846 Thanks
    Storm89
    Start of a new week. Today will be a NSD (well it has to be considering I have no money to actually spend )
    I have one more petrol payment to go out on the AMEX (virgin atlantic card) on Sunday & then this time next week I'll be paying it all off. We've been getting our petrol from Sainsbury's and using the nectar card , currently have 6.66 from nectar points which isn't much but I'm sure it'll add up throughout the year. Hoping to do my big Christmas food shop with the points.
    Today Netflix and Barclaycard (minimum payment) has gone out so I'm just about to log in and manually pay off the domino's order from December - it's not due until the next statement but want it out of the way. I don't want any extra payments hanging over me in February.
    Nothing else to report really as everything is going to plan. Once the VA payments have been cleared from 15th I'll start with the balance transfers so will put the 1800 from Barclaycard plus half the post office onto the Virgin Atlantic and then will put the remaining post office onto the barclaycard. I know there's lots of people that don't agree with this but I can't see another way that would enable me to still save what I need into my other accounts. Still aiming for monthly savings of
    General Savings - 250
    Clothes- 40
    Very- 100
    Center Parcs- 100
    Christmas/Birthdays- 100
    I have 3 birthdays in February so when I put my money into the accounts at the end of the month I'll probably put 70 in birthdays/christmas as I'll have spent 30 on the birthdays. Again, people might say that's too much but it's what I'll be spending and I'm trying to make the diary as honest as possible and log every penny spent.
    Thai chicken noodle broth for tea and then the kids will help to make some jam tarts for pudding. I'll do a full SOA for February when we get there
    • fatrab
    • By fatrab 8th Jan 18, 2:12 PM
    • 834 Posts
    • 1,851 Thanks
    fatrab
    In 2 months time you'll have over 1000 in "savings". That's good going!


    Nectar does build up throughout the year, we used some of our points for a Pizza Express voucher for 2 pizzas and 2 cinema vouchers which worked out at 10 worth of points iirc. A "free" date night!


    We used to spend them at Xmas time for the big Xmas shopping and would regularly have 40-50 worth of points over the year.


    I'll need to do a new SOA from Feb too as circumstances have changed slightly.


    Your Thai chicken noodle broth sounds amazing....
    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
    • Storm89
    • By Storm89 8th Jan 18, 3:59 PM
    • 481 Posts
    • 846 Thanks
    Storm89
    That's good to hear about nectar points - we'll only really be using it for petrol & odd bits we can't find in Aldi but hopefully we'll still manage to get a good amount at the end of the year. I've never looked into using the points for anything other than shopping , that's amazing you got the pizza express and cinema from them. I'll look into that now I think.
    I hope circumstances have changed for the better for you to need to do a new SOA ?
    The broth is from the cookbook I'm raving about lol.
    • fatrab
    • By fatrab 8th Jan 18, 10:30 PM
    • 834 Posts
    • 1,851 Thanks
    fatrab
    Few changes to our situation that's all, my wife's going onto statutory maternity pay from the end of January so I'm taking over all the bills. Its only temporary as she's going back 3 days per week in April.

    Shuffled a few other things around so be good to do a new SOA just to see where I'm at.

    Cancelled gym memberships, about to pay off CCard 1, that kind of thing.

    I'm alwasys on the lookout for good recipes and still determined to lose weight/eat healthier. Poor dog hasn't been walked this often in its life! Hitting the streets instead of the treadmill lol
    Last edited by fatrab; 08-01-2018 at 10:33 PM.
    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
    • Storm89
    • By Storm89 9th Jan 18, 7:46 AM
    • 481 Posts
    • 846 Thanks
    Storm89
    Oh I see fatrab that makes sense. haha poor dog won't know what's going on, good way to lose weight without spending money. I've got some fitness DVDs I think I'll use, I've never really used a gym anyway but did used to pay for swimming , which I've cancelled.
    I'll have to do another SOA in April as there'll be some changes as one phone contract ends in March & I won't be renewing it, plus I'll probably add my son's drum lessons in it's place. I think we want to get annual membership for a local zoo too which is a monthly payment. I'll always work out finances before committing to anything from now on, I never ever want to get deeper into the debt LOL.
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