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  • FIRST POST
    rubydoiwannabee
    My diary... becoming debt free whilst still having a life!!!
    • #1
    • 1st Sep 08, 12:05 AM
    My diary... becoming debt free whilst still having a life!!! 1st Sep 08 at 12:05 AM
    Hi everyone,
    I thought I would join the diary club... and start one of my very own.

    It is the 1st September and that means we are a few days off 3 months since our LBM. At that point in time we were living in a very big overdraft every month and it was going to be the first month we would have gone over our limit if we didn't take some very drastic action, hence the LBM. The OD was only one of our many debts (total £26k at LBM)

    Here we are three months later and life feels much better, this week I have to pay out the following:

    car tax for DH - £101.75
    bus pass for DS - £193
    childcare for DD - £120
    new school uniforms/shoes etc. - £50
    new hoover - £100
    about £565 in total

    and for the first time ever, ever, ever we have the money to pay it. Since the beginning of July I have every week without fail put money aside (and will continue to do so) to ensure we have the money needed to pay for these bills when they crop up. In the past at least two or three would have gone on a credit card. We still owe what we owe, but that is coming down slowly and we have had a whole month without putting anything on CR (and that was to keep my car on the road... I'm sure you will remember me moaning!!).

    We have been successful in getting two 0% cc's, the latest being the virgin 15 months, so we are hoping to transfer some of the OD onto that. DH is considering a 2nd job (basic wage) but local and two nights a week, it would mean an extra £300 per month and could be the difference between us staying on interest only on the mortgage or converting back. We swapped over in July to start focussing on these debts and then when they are gone we will convert back and throw all the extra income a month at the mortgage.

    I am snowballing, quidco - ing, mystery shopping, ebaying you name it I am doing it. We are withdrawing cash weekly to live on, and menu planning and only spending £60 a week for the four of us. I was worried that once the novelty wore off we would creep back to our old ways, but as we go into month four we are just as determined as we were on day one.

    Our view of money, debt and INTEREST CHARGES, has completely changed. I am ashamed to say that I couldn't (before LBM) have told you the rates on my cc, overdraft, next card etc. I had no idea how much my monthly payment was actually taking off my debt each month and hadn't even considered moving things around to pay less!!! drrr... Now I feel in control, like we have a plan, like we are being responsible, mature and sensible about our debt.

    I feel like we are lucky.... Lucky to have a nice home, healthy, happy children, jobs, food on the table and clothes on our back. I can sleep at night knowing I am doing as much as I can to improve things and I am pleased that I am no longer in denial.

    I think that is it, when I first started coming to this forum, I thought there was no hope for us, now I have HOPE.

    Thanks to everyone that has taken time to offer advice and support and I will stop waffling now and end this long post.
    Snowball balance today £24600
    xxxxxx

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    Last edited by MSE Deborah; 09-09-2008 at 7:34 PM.
    The good you do comes back to you.
    DFW Long haul supporters No: 134
Page 1
  • LilacPixie
    • #2
    • 1st Sep 08, 12:20 AM
    • #2
    • 1st Sep 08, 12:20 AM
    Fantastic news. You will start to find that month on month you snowball total will reduce and that will spurr you on.

    I understand totally what you mean about your view of debt. Last year i was of the opinion that a 10 year loan would be paid off in 10 years, a 25 year mortgage would be clear in 25 years. It did not occure to me that while we were spending money on non essential crap we were actually wasting 3-4 times as much by not clearing our debts quicker. As a result I have decided I class my mortgage to be a debt just like i do an overdraft or credit card.
    MF aim 10th December 2020
    MFW 2012 no86 OP 0/2000
  • rubydoiwannabee
    • #3
    • 1st Sep 08, 12:25 AM
    • #3
    • 1st Sep 08, 12:25 AM
    Thanks Lilac, I agree in fact I think the real impact of the LBM is to understand the value of every, penny. I can honestly say I used to deal with every spend in isolation, e.g. it's only a 40 top, not bad price etc. This has changed completely now, and instead I think of ALL the things I could buy with that 40 at the supermarket, or how I could overpay something!!!
    The good you do comes back to you.
    DFW Long haul supporters No: 134
  • rubydoiwannabee
    • #4
    • 1st Sep 08, 12:51 AM
    To Do Before Going Back To Work
    • #4
    • 1st Sep 08, 12:51 AM
    I thought I would write my money saving to do list for my last few days before returning to work after the six week break:

    Between the 1st and the 8th Sept have a min of 3 NSD
    Check online banking and update spreadsheets
    Write complaint letter to Virgin regarding telephone fiasco (this should result in some financial compensation, e.g. a months bill wiped off, so worth doing)
    Get a new quote for buildings and contents insurance

    Night night.
    x
    The good you do comes back to you.
    DFW Long haul supporters No: 134
  • rubydoiwannabee
    • #5
    • 1st Sep 08, 12:21 PM
    • #5
    • 1st Sep 08, 12:21 PM
    Hello diary.... (and anyone reading)
    Today is on target to be a NSD, DD has a friend around to play and DS is mooching....!!!! (help me to live with a teenager, we are only 6 months in and some days it is soooo hard).

    I have checked online banking and all 1st month SO and DD are out, so that means FD cc and od have both been sent a payment.

    Couldn't sleep last night, I seem to have these real highs about the fact that we are now in control and they are almost always followed by a low.... of how did we get in this mess etc. etc.

    I go back to work next week after six weeks off, so if anyone sees me signed on here after 11pm, tell me to go to bed!!! I am staying up far too late and then not wanting to wake in the morning, as well as not being able to sleep when I get to bed because I am forever doing sums in my head, or dreaming of how that lottery win would be spent!!

    MUST GET OUT MORE!!!!

    Anyway, better go and feed three hungry children and then crack on with the ironing.

    Hope everyone is well and thanks for reading.
    The good you do comes back to you.
    DFW Long haul supporters No: 134
    • sistercas
    • By sistercas 1st Sep 08, 3:14 PM
    • 4,826 Posts
    • 58,439 Thanks
    sistercas
    • #6
    • 1st Sep 08, 3:14 PM
    • #6
    • 1st Sep 08, 3:14 PM
    well done for starting this rubydoiwannabee I will read it it regularly.
    I know what you mean about being able to pay for stuff. we are in a similar situation and this month i have been able to pay for new school stuff without putting it on a cc. As you say the debt is still there ( going down very slowly) before joining here I would have had to put it all on a cc even had to put food on a cc before now

    good luck with the diary and first day back at work ( my DH's first day back today too after 6 weeks)
  • rubydoiwannabee
    • #7
    • 1st Sep 08, 4:00 PM
    • #7
    • 1st Sep 08, 4:00 PM
    Thanks Sistercas,
    It'll be nice to know someone is popping in regularly. How was your trip to the London Eye?

    xxxxx
    The good you do comes back to you.
    DFW Long haul supporters No: 134
    • sistercas
    • By sistercas 1st Sep 08, 8:08 PM
    • 4,826 Posts
    • 58,439 Thanks
    sistercas
    • #8
    • 1st Sep 08, 8:08 PM
    • #8
    • 1st Sep 08, 8:08 PM
    london eye was great DH didnt think so though he had to sit down and close his eyes while it went over the top
    thought london was fabulous we tried to do all the touristy stuff got blisters 'cos we walked so far. DD's are desperate to go back. they were star struck cos they saw the boy who won Britains Got Talent ( who they both fancy ) and Catherine Tate in Covent Garden.

    glad things are going ok at the mo x
  • ~Yorkshire Belle~
    • #9
    • 1st Sep 08, 8:24 PM
    • #9
    • 1st Sep 08, 8:24 PM
    Good luck with the diary Ruby. Sounds like you are making really good progress. I am back at work this week too so commiserations. Hope it might be cheaper than with children at home all day though!
    Belle
    Getting there...slowly!

    GC : must do better
    NSD: very rare

    No matter how slow I go I am lapping everyone on the couch.
    • sistercas
    • By sistercas 1st Sep 08, 8:30 PM
    • 4,826 Posts
    • 58,439 Thanks
    sistercas
    Hope it might be cheaper than with children at home all day though!
    Belle
    Originally posted by ~Yorkshire Belle~
    i'll second that!
  • rubydoiwannabee
    Sistercas, London sounds great I do love it there, although I haven't been on the london eye. Seeing celebrities must have made it better too!!

    Yorkshire Belle, thanks for you kind words. I know what you mean about it being cheaper when the kids go back. DD goes back on Thursday and DS on Friday. I will work from home on Thursday and then go back properly next week. The only trouble is my petrol bill will go back up to 30pw because I have to drive 25 miles each way to work.

    I managed a NSD today, but have promised the children we will go to the market tomorrow and get fruit for a crumble... so will be spending tomorrow.

    There was a job in our local paper advertising mystery shopping opportunities, so I have emailed then tonight. Also received 10 in the post today for a mystery shop from a few weeks ago.

    I am determined to be in bed and asleep before 11.30 tonight, so quick update on here and sign off.

    Night night.

    xxx
    The good you do comes back to you.
    DFW Long haul supporters No: 134
    • sistercas
    • By sistercas 2nd Sep 08, 7:25 PM
    • 4,826 Posts
    • 58,439 Thanks
    sistercas
    hi hope everyones ok
    off to pick DD2 up from swim training soon then will watch a bit of BB eviction( cant believe i,ve admitted to watching it )
    back at work today after 10 days hol it was like i,ve never been away lol
    gone stardrops crazy in the bathroom (its all shiny )
    rubydoiwannabee hope you've had agood day x
  • ~Yorkshire Belle~
    It is exactly like not having been away at work for me too
    Hope you had a good day Ruby and Cas
    Getting there...slowly!

    GC : must do better
    NSD: very rare

    No matter how slow I go I am lapping everyone on the couch.
  • rubydoiwannabee
    Hello my friends, (and anyone else reading)
    We have had a good day today... only spent 2 on cooking apples and butter. Didn't get around to making the crumble though, so will have to do that tomorrow. Did make a new recipe for supper though, chicken fried in peppers, mushrooms and leek then cooked further in a tomato pasta sauce and served with a circle of cooked puff pastry on top. It was yummy and the kids loved it.

    Also good news this evening, signed up to two mystery shops to take place over the next few days, one will pay 20!! and the 2nd 15!! So that can go to the OD.

    Surfed this site for ASDA free delivery codes and have enough to last me for the next few weeks.

    So all in all a good MS day.

    I too am watching BB especially seeing as it is a DOUBLE eviction, I am sorry to say I am hooked.

    Sistercas, what is this stardrops and where can I get it please? I love shiny!!

    Will be back later.

    By the way I was good and was in bed by 11.30pm last night, aiming for 11pm tonight.

    xx
    The good you do comes back to you.
    DFW Long haul supporters No: 134
    • savingholmes
    • By savingholmes 2nd Sep 08, 8:48 PM
    • 8,955 Posts
    • 17,030 Thanks
    savingholmes
    Nice to see another diary.... I'm afraid the old style board just seems to big and complex to me.... so tell me simply how do you feed etc a family of 5 on 240 per month. I'm struggling on my target of 360 altho I must admit that usually includes pressies etc...
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
  • ltm07
    Hi Ruby! I will keep an eye on this diary & wish you luck! OH & I feel similar to you & have started to enjoy ourselves alot more the last few months than in the first few months of our DFW journey, even though the debts aren't going down very fast. It is important in my opinion to enjoy every day & do the whole DFW journey at your own pace, rather than try to clear everything as fast as you can, whilst not enjoying life in the process! All the best & will catch up tomorrow!!
    Debt at LBM(July 1st 07)-35,053.92 Debt on 1st Anniversary of LBM(July 1st 08)-33,170.11 (31st January 09)-32,318.73Paid off so far 2,735.19(7.8%) Average paid off p.m. 143.95 L/H supporter 115 DFD target February 2018 DFD March 2028. PAD(Started 28/12/08) 253.77 10 a day Feb 110/280 WEDDING Paid off 1,585.96 Saved Up 925.40
    • sistercas
    • By sistercas 2nd Sep 08, 9:34 PM
    • 4,826 Posts
    • 58,439 Thanks
    sistercas
    hello Ruby and Belle and anyone else
    Ruby your tea sounds lovely can you set an extra place for me
    stardrops is new to me there are a couple of threads about it. try this one.
    http://forums.moneysavingexpert.com/showthread.html?t=354039&highlight=stardrops
    i love it

    missed the 1st BB tonight as DD2 took ages to come out of the changing rooms will watch the second unless i get too tired

    well done with the mystery shops I have to confess i dont really know what they are or whats involved lol!
    I have just looked at quidco and there is £50 waiting to be paid out in September will put it towards xmas expenses

    hope everyone has a good evening x

    edited to remind Rubydoiwannabee to go to bed before 11pm!!
    Last edited by sistercas; 02-09-2008 at 9:39 PM.
  • ~Yorkshire Belle~
    I am a stardrops convert too - it's great!
    I haven't used quidco yet - must do it I know.
    savingholmes, I have a family of 5 and HAVE NO IDEA how to feed them on 240/month but would like to get there eventually
    Hope you all enjoy BB - am off to book tv for eviction!
    Belle
    Getting there...slowly!

    GC : must do better
    NSD: very rare

    No matter how slow I go I am lapping everyone on the couch.
  • rubydoiwannabee
    Hi everyone,
    Well Sistercas I failed at 11pm bedtime, but I am going to type this then toodle off upstairs.

    Hi to ltm07 and saving holmes, thanks for reading my diary.

    LTM, I couldn't agree more about the enjoying life and working at the debts. I honestly think since our LBM things have changed and we won't go back to our old ways, but we may every now and again treat ourselves to a meal out or a takeaway, cinema etc. so that life doesn't become one big money making, debt paying treadmill.

    Savingholmes, I have no idea how to feed a family of five on that money, I am currently working really hard at trying to stick to it for all our groceries etc and that is for a family of four. Some weeks we do, others we spend 70 or 80. I do find working out a meal plan and buying all that I need for that helps. The cupboards and freezer don't have as many 'extras' in them as they used to so I guess I am only buying what is needed. But it is hard. How long have you been trying/spending that for groceries?

    On the subject of BB, I am glad Cat has gone, but still not sure who I want to win? What do you all think, who do you want to win?

    I'm off now, have a busy day tomorrow. I can't believe I have had six weeks off work and I still have to go to town tomorrow the day before DD goes back to school to pick up polo shirts that I thought I already had!!!! That means labelling again tomorrow night.

    I haven't got time now to read about Stardrops (love that name by the way) but I will tomorrow and think I will be looking out for them in the shops too.

    Night, night to everyone.
    take care

    xxxx
    The good you do comes back to you.
    DFW Long haul supporters No: 134
  • rubydoiwannabee
    Oh no!! DD goes back to school tomorrow and has been up all night with a bug!!!! EEEEEkkkkkkkkk

    (why oh why didn't I go to bed at 9pm!!)
    The good you do comes back to you.
    DFW Long haul supporters No: 134
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