Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • mfmaybe
    • By mfmaybe 22nd Jan 14, 8:38 PM
    • 1,158Posts
    • 3,765Thanks
    mfmaybe
    Paying the car tax via EBay, and other shenanigans.
    • #1
    • 22nd Jan 14, 8:38 PM
    Paying the car tax via EBay, and other shenanigans. 22nd Jan 14 at 8:38 PM
    So the title will become obvious later, but I figured I need a diary. It's my first. It is mainly to keep me focused but maybe someone will read it too. Here's hoping!

    Stealing from another diary, I have decided my debts need paid off by my 40th, which is in 7ish months! It might not be completely achievable but I'm certainly going to try.

    First about me. I have a lovely husband, we live in the country with a few cats and a couple of horses. These latter fluffy things are of course the reason for permanent poverty. We certainly don't have a cheap lifestyle, the mortgage is big, we take nice holidays and have nice cars. We can manage it all quite comfortably (both of us have well paid jobs) but I'm not very disciplined about money and have let it get a bit of a bother. That said I'm not a compulsive shopper either, don't buy loads of clothes, don't smoke, Don't go out much etc. My husband isn't in debt and has some savings but neither of us are as comfortable as we should be. On the down side, we've spent a lot of money on IVF in the last year, will be doing so again this year, and our house (old and cold) really needs a few things done. We also got married just over a year ago which cleared out all my savings and that plus the IVF tipped me over the edge. So financial discipline is certainly needed.

    The debts:
    OD 4100
    Family member 5k
    Credit card 1600 on 0%

    All of the above are my debts, so not my husbands responsibility.

    We have assets. My car would cover most of my unsecured debt. I have 3k in an ISA. We have some joint savings. I own a rental flat with a very good LTV. My sister is in no rush for her repayment. So there is no panic stations. But no excuses either. So 7 months it is....

    Wish me luck
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
Page 41
    • mfmaybe
    • By mfmaybe 14th Aug 18, 5:31 PM
    • 1,158 Posts
    • 3,765 Thanks
    mfmaybe
    Hope alls good...paying off the mortgage sounds amazing. Very jealous
    Originally posted by brizzlegirl
    It's a nice feeling Brizzle, but my current situation has come about via a combination of a very long-ago purchase, and a health situation I'd rather not have had. Still, if the health stuff continues to be good news, then I'm glad the policy was there and it's taken away a level of worry, and given me flexibility to enjoy my little guy whilst he's still little
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 13th Sep 18, 12:45 PM
    • 1,158 Posts
    • 3,765 Thanks
    mfmaybe
    I am so very very remiss in terms of posting here!

    So what's happening? Well DS is now in his funded hours at nursery, so I have 4 mornings a week free. Predictably I could fill those hours several times over. I cracked back on with the C25k and made it to target, so now I'm trying to run 3 times a week. But I might need to switch from doing that in nursery time and ask a grandparent to babysit for an hour in the afternoons instead. I really need the 4 straight hours to Get Stuff Done. There's admin for the housebuild; and research; and physically meeting people on site, and (like this week) physically doing hard labour to save money. When DS gets home he wants to go for a walk or go to the park or play Duplo with me and there's a limit to how much I can plonk him in front of Duggee to make progress with my to do list.

    In money news:
    1. I paid off the BtL. So no mortgage at all right now.
    2. I did put something house related on the 0% card so that's new debt. Currently just paying the minimums deliberately. It's a 30 month offer but I'm going to put it in my signature as a new target. I actually want to spend more on there, with the house build, so watch this space.
    3. We're a week away from finishing our first month on a single salary. There is still money in the joint account but I need to go and check the credit card.
    4. There are logistics I need to work out. How do I switch my spreadsheet to now covering 2 bank accounts (mine and the joint, DH can take care of his own!) How do I make sure DH's work expense rebates end up against the card, not being happily spent by him. How do I monitor housebuild expenses against normal expenses, etc.

    Anyway already only 15 minutes until I need to leave so I better spend that on my spreadsheet.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 14th Sep 18, 12:44 PM
    • 1,158 Posts
    • 3,765 Thanks
    mfmaybe
    Ok so current sit rep.

    360 in cash to spend out of the accounts, not including the card payment that's due. DH gets paid a little later than I used to so need to cover that before pay day (will do so temporarily from savings).

    850 in the account. Sounds like we've underspent but I've not put any money into savings. (Except we did pay for our new puppy out of this month's income )

    Card is horrendous - 1500. Food shopping was 580 . Then there were tons of birthdays and a fair whack of fuel too. So with the leftover in the account we have 1000 to find. I've about 300 in my annual bills pot, and DH reckons about 200 of expenses. So maybe 500 left.

    But then, the next one is already 1300 too. This includes my ludicrous 500+ car tax; the subject of my whole diary! Maybe one of these days I will actually find a way to cover this.

    I've had a look at the September budget and it's ok if you ignore the credit card. Actually it's still ok, because a good chunk of the budget IS the stuff that goes on the card. I'm hoping that things will be a bit less spendy. Fuel we probably can't do heaps about but we did have a lot of birthdays in August. We had 2 meals out (very unusual for us) and had lost control of the food shopping a bit too. That's becoming less scary now that DS is at nursery a bit - I'm less inclined to use a walk to the shops as a way of occupying him!

    Anyway I should probably go and occupy said child now
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • brizzlegirl
    • By brizzlegirl 15th Sep 18, 5:38 PM
    • 406 Posts
    • 2,698 Thanks
    brizzlegirl
    Glad you’re good...enjoy your weekend x
    MFW..aiming to pay it off in 2022.. 2018 Savings Rate - Goal 40% [29%May 25%June 15%July 32% Sept & Oct] 2018 Income Goal 100/750 November Goals: AFDs 13/25; Decluttering 07/60; LSDs 05/10; NSDs 01/10 Exercise 02/15 12k steps per day pls Aiming to be a true Frugalista!
    • mfmaybe
    • By mfmaybe 18th Sep 18, 11:16 AM
    • 1,158 Posts
    • 3,765 Thanks
    mfmaybe
    So monthly card paid. So far, 700 "short", less whatever comes back in expenses. Payday in 2 days so will repay the savings and see where it leaves us.

    I've done some switching of balances. We've a second joint current account so I'm moving my Annual Bills pot into this and will save jointly. So a single car tax pot, single insurance pot etc. I'll also put money in here to pad out for house bills. For example just transferred a little from our current account as we've not had a bill from SSE this month. I've also set aside one month's rent in here.

    In September, I have 900 in the budget to go into various savings pots. Given I'm going to have to replace the Amex, and cover the next one, I can safely say this won't be happening. So it's the same old story. Be as tight as we can on the fuel, food etc to try to eek out every penny. Try to get this Amex bill back down to a much more manageable amount. Ever feel like we've heard this before
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 26th Sep 18, 6:13 PM
    • 1,158 Posts
    • 3,765 Thanks
    mfmaybe
    Ugh.

    So first some unexpected money. Sold something for a couple of hundred that I'd given up hope of getting anything for, and also a tiny dividend. Both have just been swiped into housebuilding funds.

    Less good news though, tenant has given notice on the flat, so need to get my behind into gear and get that back on the market.

    Current situation. Projections for the bank accounts show c1100 "spare" after all know payments. But the monthly card that I need to pay just before the end of the month is over 1600 . Some work expenses but mostly fuel, food shopping, and the dreaded road tax. In addition, DH's road tax was due which he just paid out of the bank account. This just adds pressure to the current month. Anyway, there are some expenses due in from his work, sub 200, which I will pay straight to the card. So perhaps a shortfall of 400 if we are very strict with cash. That's less than I had to sub the prior month, which was 700. That has been repaid out of current month, so basically trying to get that shortfall figure to zero, and then get back into the habit of setting the cash aside when we spend it. THEN we can start saving into our annual bills pots as well; but meanwhile I have to do something about the food shopping. I thought it was getting better, but it seems not really. We've spent 180 in the last week. 2 online food shops, which would be ok as one just arrived today. Plus 20 to Nkd wines which we're using as a savings pot . But 58 on "top up" shops. In a single week. FML.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • brizzlegirl
    • By brizzlegirl 29th Sep 18, 10:13 AM
    • 406 Posts
    • 2,698 Thanks
    brizzlegirl
    Ugh indeed. Top up shops are the work of the devil, but think we all do it. I have been topping up at Trose for gawd’s sake. Because it fits in with a busy life and I can do it whilst DD2 is at a class...but never less than 50. I use cards to get points but even so.

    I have just also agreed to host the family for Xmas...best start saving into a fund (well more than I do already for food) and maybe doling out the jobs
    MFW..aiming to pay it off in 2022.. 2018 Savings Rate - Goal 40% [29%May 25%June 15%July 32% Sept & Oct] 2018 Income Goal 100/750 November Goals: AFDs 13/25; Decluttering 07/60; LSDs 05/10; NSDs 01/10 Exercise 02/15 12k steps per day pls Aiming to be a true Frugalista!
    • PurpleFairy26
    • By PurpleFairy26 1st Nov 18, 7:25 PM
    • 2,418 Posts
    • 16,431 Thanks
    PurpleFairy26
    Hey mfmaybe hope all is well with you. Will dig out the link to your blog to see if you've updated it. Hope you're making progress. Purps.
    • mfmaybe
    • By mfmaybe 2nd Nov 18, 10:40 PM
    • 1,158 Posts
    • 3,765 Thanks
    mfmaybe
    I haven't purps, but your post has reminded me to!

    DH is giving me child and puppy free time tomorrow so will try to catch up with it all.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • mfmaybe
    • By mfmaybe 4th Nov 18, 8:04 PM
    • 1,158 Posts
    • 3,765 Thanks
    mfmaybe
    Righto. An update, long overdue as always. Last month ended up 370 short of the monthly card (I'm trying to catch up with it as DH has a different pay day than I used to). This was a smidge better than the 400 I thought I'd be short. This month, it is looking like, with a fair wind (hahahaha) we might just manage to fund the full thing before payday. If that is the case, then it means next month I might start managing to set money aside into the annual bills pots again.

    The more troublesome news is my flat hasn't been leased yet, so money feels tighter than ever. Thankfully I paid off the mortgage with a CI policy I had, and fortunately my horses have been moved to a friend's field at pretty much zero cost, but it's still worrying. I've already dropped the rent a fair whack. There are another 2 or 3 new enquiries today though, so fingers crossed.

    I did manage to pick up a few small Christmas presents for DS at a local toy exchange, for a very low cost, so at least that's started. And we aren't hosting so no extreme food costs.

    Oh and Purps, blog updated albeit I lost the whole post just before it was done, so my second attempt was much shorter and grumpier!
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • in need of direction
    • By in need of direction 4th Nov 18, 11:24 PM
    • 5,353 Posts
    • 31,733 Thanks
    in need of direction
    Is the flat in an air bnb desirable area?
    Mortgage at 01.01.14 119,481.83 today 72,374.15, target 65,000 by 31/12/18 Offset fund today 377.27 target 5,500 by 31/12/18
    Emergency fund 1,100/5.5k & 200/200 cash.
    Weight 8 July 14st 4lb
    determined to stop defining myself by my mistakes.
    Progress not perfection.
    • mfmaybe
    • By mfmaybe 5th Nov 18, 5:15 PM
    • 1,158 Posts
    • 3,765 Thanks
    mfmaybe
    Is the flat in an air bnb desirable area?
    Originally posted by in need of direction
    It might be. I had two enquiries from people wanting to lease it to use with their own airbnb companies. But I fear that changes things from an insurance perspective, tax etc. I need to look in to it. Once we've got our house built, I might think about operating it myself. I probably need to replace the kitchen and the windows first though.

    In money news I've managed to miscalculate by at least 200. I did wonder why things looked ok despite losing the rent this month. Sigh.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • brizzlegirl
    • By brizzlegirl 8th Nov 18, 9:17 PM
    • 406 Posts
    • 2,698 Thanks
    brizzlegirl
    One step forward and one step back eh...sorry to hear that. Fingers and toes crossed it lets.

    X
    MFW..aiming to pay it off in 2022.. 2018 Savings Rate - Goal 40% [29%May 25%June 15%July 32% Sept & Oct] 2018 Income Goal 100/750 November Goals: AFDs 13/25; Decluttering 07/60; LSDs 05/10; NSDs 01/10 Exercise 02/15 12k steps per day pls Aiming to be a true Frugalista!
    • mfmaybe
    • By mfmaybe 14th Nov 18, 8:59 PM
    • 1,158 Posts
    • 3,765 Thanks
    mfmaybe
    One step forward and one step back eh...sorry to hear that. Fingers and toes crossed it lets.

    X
    Originally posted by brizzlegirl
    Thanks Brizzle. It's very quiet. I get enquiries then nothing comes of it. So I am going to give it one last price drop, meanwhile I think I need to go to an estate agent so that I can get it on to rightmove etc. Hopefully that might result in a higher rent. The enquiries at the moment seem to be all asking if the (already very low) rent includes bills and council tax

    In money news, I think I've got just enough left in the bank to cover the monthly card. Though this is misleading as I raided an already negative pot to pay my lorry insurance etc. To the tune of nearly 400 , which essentially came out of house savings. But I'm trying to be positive. The Amex payment this month will be entirely paid for one day before payday. And current bill is about 600, but I'm guessing more like 850/900 once another fuel and food shop is added plus the pending items. There's a chance I can therefore start setting money aside in the upcoming month for the card, or perhaps I should be reinstating those empty pots.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • lucielle
    • By lucielle 15th Nov 18, 8:28 AM
    • 8,067 Posts
    • 34,524 Thanks
    lucielle
    Could you try for 1 month to go cash only and not use the card?

    L
    Total Debt Dec 07 59875.83 Overdrafts 2900,New Debt Figure ZERO !!!!!! 08/06/2013
    Lucielle's Daring Debt Free Journey
    DFD Before we Die!!!! Long Haul Supporter #124
    • brizzlegirl
    • By brizzlegirl 17th Nov 18, 9:54 AM
    • 406 Posts
    • 2,698 Thanks
    brizzlegirl
    That’s an idea L...it does seem like you chase your tail on CCs and cash flow. I usually do the same but am seeking to use the current account more and then have lower CC totals to pay off at the end of the month.

    How’s it going not doing paid work? Still glad you made the call?? Sorry you haven’t got tenants yet..a worry. Will you try Air BnB next?
    MFW..aiming to pay it off in 2022.. 2018 Savings Rate - Goal 40% [29%May 25%June 15%July 32% Sept & Oct] 2018 Income Goal 100/750 November Goals: AFDs 13/25; Decluttering 07/60; LSDs 05/10; NSDs 01/10 Exercise 02/15 12k steps per day pls Aiming to be a true Frugalista!
    • mfmaybe
    • By mfmaybe 17th Nov 18, 9:36 PM
    • 1,158 Posts
    • 3,765 Thanks
    mfmaybe
    It wouldn't actually make a difference, I don't think. Whatever month we chose to start that would result in double costs: paying the card, and paying the cash out for the stuff we'd normally put on the card. It's all fuel, food shopping, dog food, road tax etc. Not splurgey stuff and not really stuff we can avoid. In essence I've already caught it up to the tune of one month due to DH's pay date being after the card payment date. And what I'm trying to do is get ahead of it, but that's not a one-month plan due to the sheer amount of stuff we seem to pay for . Oh plus we've travelled at the pointy end of the plane thanks to the points, so it's not all bad .

    That said, I have all but stopped using my non-Amex card. So places like the hairdresser or horse feed store now get paid debit instead of credit. I could also maybe choose one item at a time off the Amex, eg pay the next dog food order in cash.

    Non paid work is harder than paid work, I've decided. This is because toddler + puppy = bedlam. Yes I'm glad I made the call though, even before the health stuff, but work itself was a breeze in comparison. Logistics are simpler though and DS is amazing to spend time with.

    The flat, ugh. I haven't actually dropped the rent again. I think I can't air Bnb until we've got our house built, so for now I have to accept lower rent is better than no rent. But the lower the rent goes the more I get asked to include bills etc.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • PurpleFairy26
    • By PurpleFairy26 18th Nov 18, 7:34 AM
    • 2,418 Posts
    • 16,431 Thanks
    PurpleFairy26
    Caught up with the blog, thanks for updating. All seems to be progressing in the right direction.
    • mfmaybe
    • By mfmaybe 18th Nov 18, 7:38 PM
    • 1,158 Posts
    • 3,765 Thanks
    mfmaybe
    Thanks Purps. Need to give it another update. There might be a puppy pic on there too, once it's done

    In money news, paid the Amex today and moved the little bit of money left into our utilities pot. Current rental house is all electric (heating, hot water, the lot) so our bill is going to be horrific over winter, I'd expect.

    Have been musing on your comments about the card vs cash. As I'm now "caught up" with the bill on the Amex, have been deciding how to proceed. I think rather than setting aside everything I need for the Amex going forward, I'm going to start topping up the savings pots again. Reason being, the Amex is usually the same amount so long as my enormous road tax is on it. So I can almost predictably budget for that, whereas car tyres or whatever could take us by surprise.

    That said, I've decided to try to set aside one spend type this month. I will start small with Pet food (the puppy's food is not cheap ) and at the same time try to lower our food shopping bill too. Fuel is a bit of a less manageable cost, we live rurally and DH has to travel for work, only some of which is covered. And if I ever manage to sell anything, that can also go to the Amex slush fund. Plus if I rent my flat, it won't be quite so tight any more.
    0% card was 1126.91 / Now 1669.11

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,785Posts Today

9,839Users online

Martin's Twitter