The MSE Forum will be undergoing some maintenance this evening. As a result, some users may experience temporary performance issues. Please use the Site Feedback board to report anything major. Thank you for your patience.

My SOA and Situation Realisation

2456712

Comments

  • cms-help
    cms-help Posts: 187
    First Anniversary First Post Combo Breaker
    Forumite
    shteca wrote: »
    100% The eating out can be anything from forgetting lunch and eating out to taking the kids out for dinner or a night out with my ex. It sickens me to think I have been spending this much on food and nights out and genuinely trying to stop it dead. Lunch in town is £10 easily. so prepping meals is an absolute must.
    With regards to Entertainment this would just be days out or drinks with friends. Again I completely agree. Needs to stop dead.
    This month on Eating out I stand at 134.94 and on Entertainment £80.63
    Still not where I need it to be but a big difference. In August I am really going to try to keep it to £0.
    Where do you work and where do you go for lunch? My husband works in central London and goes to Sainsburys for the meal deal for lunch.
  • shteca
    shteca Posts: 120
    First Post Combo Breaker First Anniversary Debt-free and Proud!
    Forumite
    cms-help wrote: »
    Where do you work and where do you go for lunch? My husband works in central London and goes to Sainsburys for the meal deal for lunch.
    Don't judge me but I need a hot meal for lunch :(
    I need to just focus on prepping my meals as this sorts everything out. Already sorted my lunch for tomorrow!
    Debt Fully Paid Off (20/06/2019): £54,441.87
    Dave Ramsey is my financial guru!
  • JayRitchie
    JayRitchie Posts: 526
    First Anniversary First Post Name Dropper
    Forumite
    How old are you, and how old are your children?

    Looking at your budget if you can get out of debt you could be in a really nice financial position. How long does the mortgage have the run and what interest rate? The payments seem pretty high for the size of loan?
  • MrsSave
    MrsSave Posts: 1,817
    First Anniversary Name Dropper First Post
    Forumite
    Quite often I bulk out our evening meals and then take the leftovers for work lunches. It's no extra effort and saves quite a bit of money. I do also keep a couple of bits like tins of soup in work just in case so I never have the excuse to buy food.
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • jackieblack
    jackieblack Posts: 10,299
    First Post Name Dropper Photogenic First Anniversary
    Forumite
    shteca wrote: »
    Don't judge me but I need a hot meal for lunch :(
    I need to just focus on prepping my meals as this sorts everything out. Already sorted my lunch for tomorrow!

    If you're having a hot meal at lunchtime, you can probably cut the £274 on groceries somewhat
    2.22kWp Solar PV system installed Oct 2010, Fronius IG20 Inverter, south facing (-5 deg), 30 degree pitch, no shading
    Everything will be alright in the end so, if it’s not yet alright, it means it’s not yet the end
    MFW #4 OPs (offset): 2018 £866.89, 2019 £1322.33, 2020 £1337.07,
    2021 £1250.00, 2022 £1500.00, 2023 £1500
    Target for 2024 (offset) = £1200, YTD £345
    Quidquid Latine dictum sit altum videtur
  • shteca
    shteca Posts: 120
    First Post Combo Breaker First Anniversary Debt-free and Proud!
    Forumite
    JayRitchie wrote: »
    How old are you, and how old are your children?
    Looking at your budget if you can get out of debt you could be in a really nice financial position. How long does the mortgage have the run and what interest rate? The payments seem pretty high for the size of loan?
    I am 28. Kids are 6 and 7.
    The debt is the one thing that is killing me at the moment. I have well and truly dug myself into this one.
    The mortgage is a 15 year mortgage with 12 years to go.
    Debt Fully Paid Off (20/06/2019): £54,441.87
    Dave Ramsey is my financial guru!
  • shteca
    shteca Posts: 120
    First Post Combo Breaker First Anniversary Debt-free and Proud!
    Forumite
    MrsSave wrote: »
    Quite often I bulk out our evening meals and then take the leftovers for work lunches. It's no extra effort and saves quite a bit of money. I do also keep a couple of bits like tins of soup in work just in case so I never have the excuse to buy food.
    In an ideal world this is what I would do every day. Today I have cooked an extra meal tonight to take with me for lunch tomorrow. It makes all the difference. It is something I want to do everyday and also means I get really nice dinners and lunch.
    I try to keep in the office a load of porridge oats and some rice just for when i feel hungry too.
    Debt Fully Paid Off (20/06/2019): £54,441.87
    Dave Ramsey is my financial guru!
  • shteca
    shteca Posts: 120
    First Post Combo Breaker First Anniversary Debt-free and Proud!
    Forumite
    If you're having a hot meal at lunchtime, you can probably cut the £274 on groceries somewhat
    I want the hot meal to come from left overs from the night before and not cost me any more... This is what I have done tonight.
    With the groceries, I have started shopping at Aldi and this has started to make a HUGE difference. I couldn't believe the difference in cost to Sainsburys (my local shop) !
    There is an Aldi in town which is very easy to get to on my way home.
    Debt Fully Paid Off (20/06/2019): £54,441.87
    Dave Ramsey is my financial guru!
  • JayRitchie
    JayRitchie Posts: 526
    First Anniversary First Post Name Dropper
    Forumite
    shteca wrote: »
    I am 28. Kids are 6 and 7.
    The debt is the one thing that is killing me at the moment. I have well and truly dug myself into this one.
    The mortgage is a 15 year mortgage with 12 years to go.

    Cool. Well - you are 28, bringing up 2 kids, have started a business which looks really successful (been to university also?), live in a low cost of living area from the value of your flat. Seriously - you've had some bad luck and and mistakes but for a young guy you are really not doing badly:

    - have a flat you've done up and clearly like, with affordable payments
    - supporting your children
    - running a business.

    Although it might seem a long way off if you manage the debts you will be mortgage free at 40, able to provide a roof for your children should they need it as they enter adult life, and be debt free. Most of your peers are living in shared houses with some credit card and car debt and no assets. You've achieved loads. Will look over your finances and think about these shortly.
  • shteca
    shteca Posts: 120
    First Post Combo Breaker First Anniversary Debt-free and Proud!
    Forumite
    JayRitchie wrote: »
    Cool. Well - you are 28, bringing up 2 kids, have started a business which looks really successful (been to university also?), live in a low cost of living area from the value of your flat. Seriously - you've had some bad luck and and mistakes but for a young guy you are really not doing badly:
    - have a flat you've done up and clearly like, with affordable payments
    - supporting your children
    - running a business.
    Although it might seem a long way off if you manage the debts you will be mortgage free at 40, able to provide a roof for your children should they need it as they enter adult life, and be debt free. Most of your peers are living in shared houses with some credit card and car debt and no assets. You've achieved loads. Will look over your finances and think about these shortly.
    Thank you so so much! I needed to hear that. It is so easy to beat myself up about all this. I made some stupid mistakes but I feel always meant well with my money.
    When I took out the Ikano and Sainsburys loans the STUPID idea was to invest it with a money lender at a higher rate. I thought at the time they were both at 3% rates.
    Then I dipped into the money and so it began. All my life I have had an issue with not being able to spend within my means which is another reason why I didn't think selling my flat was going to solve anything. I need to work through this to change my attitudes and spending habits. The pain and stress of all this I hope will teach me an important lesson.
    Most importantly keeping track of where I spend my money and being a bit more deliberate and thoughtful with my money.
    Debt Fully Paid Off (20/06/2019): £54,441.87
    Dave Ramsey is my financial guru!
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.4K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards