Single, six kids and going to be debt free!

Mumoffourkids · 18 December 2017 at 9:38PM

To do lists for today

- send letters to creditors letters all prepared but printer wouldn't connect to new WiFi and I haven't got a cable to connect the printer directly so I'll print tomorrow at work, but I've got envelopes and stamps ready.
- update spreadsheet for April figures done
- finish assignment
- work out money for the week done
- buy balloons for dd2 birthday done
- iron school clothes
- update budget software for payments out
- wrap ds1 presents

Ok so not much crossed off but I did do other stuff as well like phone the debt collector for the tax credits overpayment and pay £50 off that and agree a direct debit for £120 a month to repay in full. However, I am planning on paying this in full at the end of January.

I also added a debt tab to my spreadsheet so I can track payments and balances.

I cancelled now tv subscription as we don't actually use that so that's £10 saved each month.

I've also checked entitled to to see what my tax credits would reduce to from April but from what I can see they won't reduce by much as I think I am over the maximum for childcare costs at the moment. So in theory, childcare costs will reduce but tax credits will stay mostly the same, so extra income to out towards debts.

I'll do the ironing whilst watching TV later so that will be another thing crossed off the list!

Drawingaline · 18 December 2017 at 9:43PM

I love the entitled to website. I have found it to be pretty accurate, I am always surprised at how much tax credit we are entitled to! But four kids, one with DLA seems to mean a decent amount. But I always love in fear at renewal time that we will end up owing them, I am always very prompt at letting them know of changes to income to limit overpayments, as I know they can be quite ruthless at clawing it back. Good job prioritising that one.

Mumoffourkids · 18 December 2017 at 10:40PM

Drawingaline wrote: »

I love the entitled to website. I have found it to be pretty accurate, I am always surprised at how much tax credit we are entitled to! But four kids, one with DLA seems to mean a decent amount. But I always love in fear at renewal time that we will end up owing them, I am always very prompt at letting them know of changes to income to limit overpayments, as I know they can be quite ruthless at clawing it back. Good job prioritising that one.

I think it came about because I went from two days at work to three days and even though it didn't mean that extra money, it still meant I was overpaid. They seemed quite happy with my repayment plan though so I am happy with that.

Yes at one point before I split with my ex, my tax credits sent from £330 per week to £165 per week to claw back the overpayment. They said it was standard repayment to take 50% which I can understand you can cope with if you only get say £50 per week, but to take £165 per week, it's a big amount to find in a budget.

I love entitled to as well. The only bit that doesn't workout for me is the housing benefit because my council put a cap on childcare payments that can be taken off income, but entitled to doesn't take this into account. It is a really useful website though. I did do a comparison of working verses not working and I am far better off working. I would come under the benefit cap if I wasn't working and obviously would lose working tax credits and my salary.

Mumoffourkids · 18 December 2017 at 10:54PM

To do list for tomorrow
- work
- print off letters at work to creditors and post letters
- wrap presents for ds1
- takeaway for dd2 birthday (includes free pizza because of the delay last time)
- update ynab for any payments (I'm trying ynab as the other software I was using, wasn't working out)

I think that's enough as I do have work and it is dd1's birthday and my dad will be coming to see us as it's his birthday as well.

Mumoffourkids · 19 December 2017 at 8:43PM

Ok so today's list
- work done
- print off letters at work to creditors and post letters all printed and in envelopes ready to post tomorrow
- wrap presents for ds1
- takeaway for dd2 birthday (includes free pizza because of the delay last time) done and even better I didn't pay at all because my dad treated us
- update ynab for any payments (I'm trying ynab as the other software I was using, wasn't working out) done only thing that came out was bank charges and cream from the chemist because dd1 has some funny skin on her ear

So only thing I haven't done is wrap some presents but I am going to do some later.

Good news for today, myself and the lady I work with have been asked to do extra hours at work, so more money without a huge amount of costs. I'm going to do another projection on entitled to to see what changes. But it is good news!

Also my dad is going to take two of the kids after school tomorrow to his house until Christmas Eve so that saves me £48 for holiday club on Thursday and obviously food etc!

Will sort out a to do list for tomorrow later.

System · 19 December 2017 at 10:23PM

Yay to extra hours at work and lovely grandads . If there is no impact on your childcare costs then working extra is really good.

Mumoffourkids · 19 December 2017 at 10:52PM

I know I was thinking they may cut my hours and then I would have to look for more work or another job as I don't want to drop below 16 hours a week, but no they asked us to do more hours. Some of which can be done from home just checking and replying to emails and the other hours is just an extra hour or hour and half on the days that I already work. As long as I can sort out after school clubs for two middle kids which are normally £10 a term, then cost is going to be minimal and I get extra money. Also went onto entitled to and the drop in benefits is less than the extra I would earn in wages. I get the feeling that the extra hours are likely to start in January as well.

And yes granddads are brilliant help. My dad even asked me if I was alright for money at the moment. I am but it is nice that he offers. So very good day today! Tomorrow will be a spendy day but mainly because I have to pay a deposit for the girls rugby tour. But that is budgeted for and once it is paid I don't have to pay anything else for the weekend as everything is included even food!

Steerpike88 · 20 December 2017 at 12:35AM

I think you're doing really well. Check out the old style saving boards they have loads of great ideas. I stuck loads of sticky notes everywhere to remind me of little ways to save money with estimated savings. I even wrote tons of use it up recipes in my kitchen that I can look through if I'm trying to use up the bits in my fridge. I have subscribed!

Mumoffourkids · 20 December 2017 at 10:36PM

Thanks Steerpike, I will take a look over at the old style board. Maybe tomorrow as I have the day off work as I finished all my work today.

Today was a very spendy day but it was all budgeted and it was only because I hadn't been able to get to rugby the last couple of weeks. Tomorrow I am hoping for a no spend day and I am just going to think of a to do list now. I am home alone as two youngest are at nursery, middle two have gone to my dad's for a few days and oldest two are still at school. So I am hoping to get a lot done.

- no spend day hopefully
- take down old bunk bed in kids room
- take old bunk bed to tip
- wrap ds1 presents
- update budget for wages in
- do two loads of washing and drying washing
- research paint for bathroom
- clear kids room ready to paint
- paint ceiling in kids room

I think that might be all but knowing me I will find a load more stuff to do. No debt paying tomorrow but hopefully a no spend day will be the start of lots of no spend days.

Mumoffourkids · 21 December 2017 at 11:03PM

So today's list went ok, didn't get everything done but did manage to do some other bits instead.
- no spend day hopefully didn't happen as I had to put petrol in the car. But this was budgeted for
- take down old bunk bed in kids room done
- take old bunk bed to tip done
- wrap ds1 presents
- update budget for wages in done, also got child benefit early due to bank holidays
- do two loads of washing and drying washing done although need to sort out dry washing and put away
- research paint for bathroom didn't happen but I know what colour I want
- clear kids room ready to paint done
- paint ceiling in kids room done

Ok I didn't manage everything on my list but I also did the following:
- opened up a separate current account so I can split out my spending money for food, petrol, pocket money etc
- looked into cheaper water tariffs. I have applied for one but don't think I will get it as I have too much disposable income but there is a thing called water sure which if you get certain benefits and you have a larger family or a medical condition, they cap your bill so you know what the most you will pay. I am going to apply for that tomorrow as I need to print off the application form. It won't be a huge saving but might save me £120 a year.
- listed a toy storage unit that we no longer need to sell and I have a couple of people interested so that should sell tomorrow or over the weekend
- arranged for a cash for clothes place to come out to me in the new year to take away some old clothes. I know you don't get much but I reckon I have about 15 bin bags of clothes, shoes, handbags and they take all of that stuff!

I'm sure I did more stuff today but I can't remember now.

Tomorrow's list is as follows:
- paint 2 x walls in kids room
- sell toy unit
- update budget re money in/out
- clean and tidy downstairs
- DD2 sleepover so need to buy nibbles etc
- washing x 2
- dry washing x 2
- list 2 x mattresses on FB to sell or give away

Single, six kids and going to be debt free!

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