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  • FIRST POST
    • mummytogirls
    • By mummytogirls 2nd Mar 10, 1:58 PM
    • 6,412Posts
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    mummytogirls
    Mummytogirls - 100 years to be debtfree - I think not!
    • #1
    • 2nd Mar 10, 1:58 PM
    Mummytogirls - 100 years to be debtfree - I think not! 2nd Mar 10 at 1:58 PM
    Hello everyone!

    Only ever posted on here once but starting to get my debts in order so starting a diary to try and keep me on track.

    Basically since the beginning of 2010 ive really started to think positive about reducing my credit.
    This included starting a spending diary which I have totted up February today and I can tell you I am throughly shocked!!

    Joined whatsthecost.com today and snowballed which told me I will be debt free in 100 years ! Well im sure I wont even be alive at which point and dont really want to live me life like this, teetering from one month to the next and juggling things around!

    So here I am!

    I have a loan with HSBC that will be paid off in Feb 2012. That is the biggy and costs me 353 per month!
    Once this is paid off I will be throwing this money at the credit cards to hopefully get debt free by Dec 2014.

    So here goes wish me luck!!!
Page 1
  • Different_Corner
    • #2
    • 2nd Mar 10, 2:19 PM
    • #2
    • 2nd Mar 10, 2:19 PM
    Hi Mummytogirls !
    Welcome. Am an expert at juggling, peter and pauling it too !
    I love my snowball too. Have to be totally honest with it and it hides nothing
    Am in a similar position with a loan, 301.11 a month and finishes in Feb 2012, will countdown with you
    DC.
    "Some people walk in the rain... others just get wet... " - Roger Miller
    • sillyrabbit
    • By sillyrabbit 2nd Mar 10, 2:26 PM
    • 253 Posts
    • 832 Thanks
    sillyrabbit
    • #3
    • 2nd Mar 10, 2:26 PM
    • #3
    • 2nd Mar 10, 2:26 PM
    Welcome, and well done on taking the big step! I didn't believe my snowball calulator, or the SOA when it told me how much I had "spare" at the end of the month... but it was true, and we were just wasting it away and living off overdrafts!

    Have you looked at the challenges on here? They are really good and get you motivated! I'm doing the sealed pot challenge where you put any loose change in, then open it in time for Christmas (people make hundreds doing this!), and the make 10 a day challenge, which is anything you can make on top of your normal salary. I'm up to 70 already
    Currently doing the Swagbucks challenge
    • mummytogirls
    • By mummytogirls 2nd Mar 10, 2:43 PM
    • 6,412 Posts
    • 24,732 Thanks
    mummytogirls
    • #4
    • 2nd Mar 10, 2:43 PM
    • #4
    • 2nd Mar 10, 2:43 PM
    Hi both,

    Thanks for your replies, means a lot to see other people are in the same boat!

    Different corner - wow I cant believe you have a similar loan to me! Sounds like a plan! Theres so many diaries on here, I will hunt yours down.
    OMG we sound so similar with the Peter and Pauling haha!

    Silly rabbit - I couldnt believe my eyes when I saw 1200 months. Had to get my calculator out to make sure I wasnt imagining 100 years!
    Im just really get the hang of MSE so will have a nosey at the challenges. Well done on the 70 made already!!!
    • mummytogirls
    • By mummytogirls 2nd Mar 10, 2:52 PM
    • 6,412 Posts
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    mummytogirls
    • #5
    • 2nd Mar 10, 2:52 PM
    • #5
    • 2nd Mar 10, 2:52 PM
    OK so I must fess up about all the credit!

    HSBC loan 7892 o/s - 353 monthly payment (to be paid off Feb 2012)

    Barclaycard CC 7365 o/s - 7500 limit

    Halifax CC 1788 o/s - 1800 limit

    MBNA CC 3399 o/s - 3400 limit

    20444 worth of debt and nothing to show for it !

    So as you can see its pretty much close to the line re cards being maxed out etc. Theres no option of me getting a 0% as ive got too much credit already.

    Anyway, onwards and upwards !!
    • mummytogirls
    • By mummytogirls 2nd Mar 10, 3:03 PM
    • 6,412 Posts
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    mummytogirls
    • #6
    • 2nd Mar 10, 3:03 PM
    • #6
    • 2nd Mar 10, 3:03 PM
    And listed below is what I spent in cash during the month of Feb!

    February
    467.30Shopping
    72.78Petrol
    67.05Hair/beauty
    30.00Playgroup fees
    2.50Tea/coffee
    12.002 savings
    8.25Work lunches
    1.00Work collections
    29.83Takeaways/meals out
    10.00Nights out

    700.71 TOTAL

    Totally shocking!!
  • Different_Corner
    • #7
    • 3rd Mar 10, 6:21 AM
    • #7
    • 3rd Mar 10, 6:21 AM
    Morning MTG !
    A spending diary is useful, writing down every penny. Unfortunately my organisation skills are pants and I've never got any further than day one before I start losing receipts.

    There's a few budget planners and state of affairs calculators on the free tools index.

    As rabbit says there's a few challenges to get you in the swing too. Grocery challenge and PAD (a payment a day) are good fun to mention a few.
    Hope you have a good day.
    DC.
    "Some people walk in the rain... others just get wet... " - Roger Miller
    • mummytogirls
    • By mummytogirls 3rd Mar 10, 7:41 AM
    • 6,412 Posts
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    mummytogirls
    • #8
    • 3rd Mar 10, 7:41 AM
    • #8
    • 3rd Mar 10, 7:41 AM
    Morning DC,

    I know I was completely shocked when I totted it all up. The shopping has shocked me more than anything!
    Im quite good at writing straight into my diary when I spend.

    Thanks for all your suggestions will keep them in mind.

    Well last night I did a bit of batch cooking! I had about 3 meals on the go all at once! So my freezer is now well stocked.

    Vege chilli for tea tonight.

    Have a good day x
    • mummytogirls
    • By mummytogirls 9th Mar 10, 10:44 AM
    • 6,412 Posts
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    mummytogirls
    • #9
    • 9th Mar 10, 10:44 AM
    • #9
    • 9th Mar 10, 10:44 AM
    Morning diary!

    Nothing too exciting to report from here! Had a nsd Thursday which is an achievement for me I can tell you!!
    Had a busy old weekend though with a night out and a Christening both done on the cheap.

    Unfortunately no let up soon though with another couple of weddings coming up.

    Spending diary for last week confirms I spent 169. Could be better I suppose!! x
    • mummytogirls
    • By mummytogirls 13th Mar 10, 7:18 PM
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    mummytogirls
    Evening diary!

    Just a quick update. Was very impressed with myself on Thursday . Received a letter from the CC company informing me of their rates being increased from May. So I rang them and closed the account keeping the rates at the old rate.

    So now theres no temptation on that one card and I can concentrate on getting it paid off.

    Happy Mothers Day to all mummies out there!!! x
    • Lemon Tree
    • By Lemon Tree 14th Mar 10, 3:03 PM
    • 9,466 Posts
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    Lemon Tree
    well done for your positive action on closing the credit card so that they can't increase the interest rate.
    • *Jellie*
    • By *Jellie* 14th Mar 10, 6:22 PM
    • 2,934 Posts
    • 13,648 Thanks
    *Jellie*
    Welcome to diaryland and good luck with your journey.
    I hit about 20 000 at the height of my debt but after lots of work and lots of inspiration and support from this place I'm finally debt free and saving now! It is well worth the effort!
    2019 fashion on a ration 0/66 coupons
    • mummytogirls
    • By mummytogirls 15th Mar 10, 12:05 PM
    • 6,412 Posts
    • 24,732 Thanks
    mummytogirls
    Hey you 2 thanks very much for your replies!

    Lemontree - it did feel very good about freezing the interest rate and also removing temptation in one go !!

    Jellie - well done you on getting rid of your 20000 worth of debt. I did notice in your signature its quite recent so well done you !
    How long did it actually take you then?

    Well nothing much going on here. Had a nsd yesterday and need to get some bread on the way home tonight so will spend about 1.50 today!!

    Thanks again for your support..
    • *Jellie*
    • By *Jellie* 20th Mar 10, 7:24 PM
    • 2,934 Posts
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    *Jellie*

    Jellie - well done you on getting rid of your 20000 worth of debt. I did notice in your signature its quite recent so well done you !
    How long did it actually take you then?
    Originally posted by mummytogirls
    I only started keeping track just over a year ago by which time most of it had been cleared. This is probably the first time I've been debt free for 10 years at least!
    2019 fashion on a ration 0/66 coupons
    • mummytogirls
    • By mummytogirls 22nd Mar 10, 7:40 AM
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    mummytogirls
    Morning diary, sorry its been long time no entry! Just do not seem to get the time at home with 2 lo's running around.

    Jellie, thats fab well done you, bet it feels so good to be debt free.

    Well nothing too exciting to report. Ive just totted up my spending diary and it stands at 407 with 10 days to go until the end of the month. I spent 700 last month which was a short month so im hoping to be able to keep well away from that figure! Got a couple of childrens parties coming up so im hoping to be able to shop around this weekend for bargains for their pressies!

    Catch up soon!
    • BEAT THE DEBT
    • By BEAT THE DEBT 22nd Mar 10, 11:34 AM
    • 2,163 Posts
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    BEAT THE DEBT
    Hi been reading. We used to spen about 500 pound per month in tesco got that down to about 60 max now.x
    • Lemon Tree
    • By Lemon Tree 22nd Mar 10, 11:41 AM
    • 9,466 Posts
    • 31,245 Thanks
    Lemon Tree
    blimey BTD that's a massive reduction in supermarket shopping!
    • BEAT THE DEBT
    • By BEAT THE DEBT 22nd Mar 10, 11:47 AM
    • 2,163 Posts
    • 5,163 Thanks
    BEAT THE DEBT
    Hi Lemon the secret is i send hubby now and he only buys what is on the list.x
    • josephine82
    • By josephine82 22nd Mar 10, 11:59 AM
    • 359 Posts
    • 355 Thanks
    josephine82
    Hi mummy!

    Have you thought about doing an internet grocery shop once or twice a month? If you have enough space then you could bulk buy bread & milk etc.. Then all you would need to spend would be the fresh stuff every so often.
    Few comments- hope helpful:

    February
    67.05Hair/beauty - can you get your hair done at a local college, or maybe every other month etc for a bit? I go to my college and they charge 5.50 a time- and they cut really well.
    29.83Takeaways/meals out- do you always hunt for a voucher for meals out? I also tend to 'book in' my monthly takeaway so I can look forward to it and therefore don't get tempted on the way home etc.

    Good to hear about the spending diary. This is really the best thing that makes you take a long hard look at what you are spending.

    Good luck!
    Debt Free as of 2nd October 2009
    • mummytogirls
    • By mummytogirls 22nd Mar 10, 12:51 PM
    • 6,412 Posts
    • 24,732 Thanks
    mummytogirls
    Afternoon all, thanks very much for your comments.

    BTD - wow 60 thats really good! How many of you is there in your household?
    DH would spend more than me if I sent him! I have found writing it all down has actually made me think do we actually need this? Whereas before it would be straight in the trolley without a second thought. Probably because if would be paid straight onto the credit card!

    Josephine - I did used to do internet shopping which does work but I use Sainsburys which I know isnt the cheapest. Tried Tescos and couldnt seem to get on with them! So next month I am going to try home bargains and then a supermarket shop a couple of times a month.
    Re hair and beauty, that does seem a bit excessive doesnt it! Just looked back in my diary and the main expense that month was I had ended up getting roped into a templespa class at my house by a friend. Ended up buying some very expensive handcream just because it was one of the cheapest things in the book! Wont be doing that again thats for sure. I get my hair cut at someones house and its only 10 bargain!!
    Re the takeaways/meals out, that included a 24 trip to pizza hut which was using the bogof voucher on here! I did think it was a bit expensive but I suppose once youve added up drinks and the kids icecreams it all adds up doesnt it!
    Your right the spending diary has really made me think about what im spending, wish id started it sooner but heyho!

    Waving hi to Lemontree!!

    Thanks again for all your comments, its good to see things from other peoples points of view. I need to track down all your diaries, read what your all up to!! x
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