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  • FIRST POST
    • LullaBelle
    • By LullaBelle 26th Feb 15, 4:39 PM
    • 116Posts
    • 130Thanks
    LullaBelle
    LullaBelle's long road to being debt free!
    • #1
    • 26th Feb 15, 4:39 PM
    LullaBelle's long road to being debt free! 26th Feb 15 at 4:39 PM
    Hi everyone,

    I have taken the brave step to write my own debt free diary. I have spent a few years reading everyone else's and promising myself that I will take advice from them. So finally here I am. I am 30 years old and in too much debt. It is all down to stupidity and buying things I cannot afford. My husband is not great either but I am doing this diary just for me and my debts. I will spend time later working out my SOA.

    For now by debts are:

    Barclaycard: 5411.41
    Car Loan: 8332.84
    Overdraft: 450
    Total: 14194.25

    Seeing it all wrote down is scary!! So my plan is to have as many no spend days as possible and sell what I can on ebay, gumtree etc.

    So here goes.... my first step towards becoming debt free...
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
Page 5
    • LullaBelle
    • By LullaBelle 4th Apr 18, 3:39 PM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    Wow! my last post was in 2016. How has nearly 2 years passed already? As you can see from my signature, I haven't been doing so well with clearing my debt. Had my FINAL LBM last week. No more... I have had enough of living this way. so here is what has been happening:


    • My Halifax card is now out of the interest free period so I have transferred that over to a Virgin card for the next 32 months.
    • My Barclaycard is very nearly gone. My aim is to clear this next and hopefully have it gone in the next 2-3 months.
    • Loan: So this is where we have totally messed up. The loan was originally for 9k for our car. We only had 3k left to pay on it. DH's credit cards were out of control. He had 3 that were all out of their interest free periods and his credit rating was bad so wasn't getting any offers for the amounts needed to transfer elsewhere. So we decided on a loan. We feel that it is the only way we are going to clear his cards. So today he has phoned and paid off the cards using the loan money and they are now closed. No more credit cards for him (or me once mine are paid off). So our loan consists of 13.5k to pay off DH's credit cards and 3k still outstanding on the car loan. We are hoping to try and make a few overpayments on the loan to clear it quicker
    • Sofa: I am not too worried about this. It is interest free finance so it is being paid every month.
    So that is where we stand at the minute. DH is up for promotion at work so here's hoping that he gets it and that will be extra money to chip away at the loan.


    I'm going to try and update my diary as much as I can to keep me on track
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 4th Apr 18, 3:50 PM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    Updated SOA


    Statement of Affairs and Personal Balance Sheet
    Household Information

    Number of adults in household........... 2
    Number of children in household......... 1
    Number of cars owned.................... 2
    Monthly Income Details

    Monthly income after tax................ 1183
    Partners monthly income after tax....... 1900
    Benefits................................ 82.8
    Other income............................ 0
    Total monthly income.................... 3165.8

    Monthly Expense Details

    Mortgage................................ 627
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 100.45
    Electricity............................. 41
    Gas..................................... 0
    Oil..................................... 60
    Water rates............................. 0
    Telephone (land line)................... 0
    Mobile phone............................ 60
    TV Licence.............................. 13
    Satellite/Cable TV...................... 64 (includes sky, phone and broadband)
    Internet Services....................... 0
    Groceries etc. ......................... 160
    Clothing................................ 30
    Petrol/diesel........................... 100
    Road tax................................ 22
    Car Insurance........................... 36
    Car maintenance (including MOT)......... 30
    Car parking............................. 0
    Other travel............................ 54 (Bus journeys for DH to get to work)
    Childcare/nursery....................... 0
    Other child related expenses............ 20
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 12
    Contents insurance...................... 12
    Life assurance ......................... 75.07 (is this too high??)
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 20
    Haircuts................................ 20
    Entertainment........................... 60
    Holiday................................. 0
    Emergency fund.......................... 50
    Total monthly expenses.................. 1666.52


    Assets

    Cash.................................... 0
    House value (Gross)..................... 180000
    Shares and bonds........................ 0
    Car(s).................................. 7000
    Other assets............................ 0
    Total Assets............................ 187000


    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 157000...(627)......0 (not sure of APR)
    Total secured & HP debts...... 157000....-.........-

    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Loan...........................16587.8...355.6.... .10.2
    Virgin.........................4430.05...45....... .0
    Barclaycard....................340.......12....... .18.9
    sofa...........................974.8.....31.44.... .0
    Total unsecured debts..........22332.65..444.04....-


    Monthly Budget Summary

    Total monthly income.................... 3,165.8
    Expenses (including HP & secured debts). 1,666.52
    Available for debt repayments........... 1,499.28
    Monthly UNsecured debt repayments....... 444.04
    Amount left after debt repayments....... 1,055.24

    Personal Balance Sheet Summary
    Total assets (things you own)........... 187,000
    Total HP & Secured debt................. -157,000
    Total Unsecured debt.................... -22,332.65
    Net Assets.............................. 7,667.35

    Created using the SOA calculator at www.stoozing.com.
    Reproduced on Moneysavingexpert with permission, using other browser.
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 16th Apr 18, 11:52 AM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    So a little update. Payday was last week so I have managed to pay a bit off my debts. DH gets paid this week so once he is paid we can pay another bit off. So last week I paid:
    100 off my virgin card
    100 off Barclaycard
    31.44 off sofa
    80 off DH Halifax
    90 off DH Virgin Card
    Our loan payments don't start coming out until May so we have a bit of extra cash this month. That will be put towards trying to clear DH's Halifax card.
    I started envelopes at the start of the year for any big expenses during the year. So I had saved enough for DH's car tax this month! Delighted with that!!
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 16th Apr 18, 4:15 PM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    Another update... I'm on a roll today!


    Just bought a sealed tin to start my Christmas savings. I am going to save 2 coins. So far I have 8 (it's a start!)
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 19th Apr 18, 1:45 PM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    another quick update...


    I just paid 14.20 off my Barclaycard. This was topcashback money I had so that brings this down to 313.24... nearly under the 300 mark!
    That leaves the total debt as just under 29k now. Every little bit helps- right?
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 23rd Apr 18, 1:19 PM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    So I did my food shop online last night. I got 6.06 back from topcashback so when that comes through I will pay that off my Barclaycard. By doing it online it meant I stuck to my list and didn't buy things that I don't need just because they are on offer!
    I also realised that I had made another payment to the sofa which I didn't account for so that's another 31.44 off the debt... another small step in the right direction!
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 25th Apr 18, 2:40 PM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    Virgin bill came through today so paid another 50 off that. it now stands at 4300. I'm getting close to seeing it under 4k! Can't wait for that!!
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • kindofagilr
    • By kindofagilr 28th Apr 18, 5:20 PM
    • 6,218 Posts
    • 20,954 Thanks
    kindofagilr
    Welcome back LB

    I am still here too, things haven't gone awesome lol, have added to it a little bit, but this is my final LBM I am super focused

    Good luck xx
    POAMAYC 2018 #87 Paid 7741.33/12,000 ~ 55.01%
    POAMAYC 2017 #87 Paid 10,380.18/10,000 ~ 104%
    POAMAYC 2016 #87 Paid 7454.80/7000 ~ 106%


    Mortgage (Start Date 01/04/09 ~ 30 year term, due to end 01/07/39)
    104,409/84,580.30 (as of 31/05/18) ~ 18.99% Paid

    Christmas Savings 2018: 270 Cash ~ Amazon Vouchers: 40
    Cyprus 2019 Savings: 500/6000 ~ Centre Parcs 2019 Savings: 0/1500

    My Debt Free Diary (Link)
    • LullaBelle
    • By LullaBelle 9th May 18, 3:29 PM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    Hi kindofagilr,


    Hope you're keeping well. Debt busting can be so overwhelming. Glad to hear you are super focused now! I'm definitely the same! xx


    I balanced transferred DH's Halifax card and some of my Barclaycard to my Virgin card. I'm trying to reduce the amount of payments I have to make on cards. Plus I have 0% interest on the virgin card. So now the only cards left are:
    My Virgin
    DH Virgin
    My Barclaycard (hoping to clear this next month)


    Payday is next week. This has been the longest month ever but I have done well by not using any cards. Our shower broke but luckily I had enough in my emergency fund to cover that!
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 15th May 18, 2:48 PM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    Payday today... Halleluiah!


    This month is going to be tight. I have that many birthdays this month and my car insurance is due out. So doubt I will be able to make many overpayments on the debt this month.


    I finished the month with 4.16 in my bank account. On the plus side - I didn't get into anymore debt.


    Today I have paid:
    355.44 off the loan
    25.87 off Barclaycard
    100 off Virgin card
    90 off DH virgin card
    31.44 off sofa
    Total paid today: 602.75


    If I do have any extra this month then that will go towards clearing my Barclaycard. There is only 70 left on it so I can't wait for it to be gone.


    Imagine how much money I will have when I clear my debt. I am due to be debt free in 4 years and 11 months. My aim is o even reduce that to 4 years. Fingers crossed!


    Off to update my signature :-)
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 16th May 18, 2:18 PM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    I am on a mission to cut as many bills as I can. Today I have been researching Life Insurance. We currently pay 75 a month but I think this is too high. I have found a similar cover for 40 a month and I will get 320 cashback. Going to talk that over with DH tonight and get that sorted asap.


    I had a read back over my diary from the start and it has got me in the mood for selling on ebay again. I loved getting the extra money and it's a great excuse to clear out the house. So I'm going to get started on that tonight!
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 21st May 18, 11:36 AM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    Happy Monday!


    Last night I cleared out my attic and found loads of stuff for ebay. So far I have listed 4 things and 2 have bids on already. My aim is to try and make 100 from ebay this month. DH needs new clothes so I am selling things he doesn't wear and putting that towards new clothes for him.


    I had my first NSD in a very long time on Friday. I was delighted. I am going to aim to have 5 of these a month. So between payday and the next pay day on 15th June. Fingers crossed!
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 21st May 18, 1:39 PM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    Deal of the day.... I just cancelled my life insurance which was costing 75 a month. It is now down to 40 a month. Plus I got cashback....410!!!!! Delighted. I have to make 6 monthly payments before I get it but should hopefully have that by Christmas. RESULT!
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 4th Jun 18, 12:38 PM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    This month is a disaster. We are so broke! It's 11 more days until payday and I have a grand total of 50 to last until them. Out of that I will need petrol and food shopping. I'm hoping to make my petrol stretch until them so fingers crossed! So 50 for food and anything else that crops up. What's the chances I can do it? I really don't want to use credit cards. I'm trying so hard to clear them!


    I am feeling so stressed over money these days. We seem to have nothing left for the last 2 weeks of the month. I can't get any savings together at all for emergencies. We are actually thinking of selling one of our cars. It would be tough going and could possibly get about 2.5k for it. it's not going to make much of a dent in our debts though. I just don't know what to do for the best. It's really getting me down. I feel like my daughter deserves better than this!
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 4th Jun 18, 4:53 PM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    forgot to say...


    on a positive note I had a NSD yesterday. So that's 2 out of 5 that I am aiming for before payday next Friday! :-)
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 5th Jun 18, 11:14 AM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    Ok... stress session is over. I have got my determined head on again today. Last night I listed 2 things on ebay and I already have bids on them so that is a start. Doing small things like that always makes me more motivated.


    I have meal planned for the rest of this week so shouldn't need to do any food shopping. I am finding that this is where most of my money goes during the month. I am forever seeing Tesco coming out of my bank account. So this week I am staying away! I am going to use up everything I have in the house. I got a voucher in the post for 7 off when I spend 50 so I will use that to do a big shop on payday.


    Aiming for a NSD today. If I can do it then that will be my 3rd one this pay month :-)
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 6th Jun 18, 9:13 AM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    Yesterday was a NSD. So that is 3/5 so far this pay month. I am aiming for another NSD today. it looks like I could actually have more than 5 this month. It is still 9 more days until pay day so I reckon I could go for 8 NSD's this month. That's 4 more days of no spending. I don't have much money left so this should be easy for me!


    Off work tomorrow so planning to get a lot of stuff done around the house and take advantage of the good weather. I'm going to get all the washing done and out on the line. It even saves me having to iron a lot of stuff so therefore saves electric. win win!


    I have my meal plans done for the rest of the week. I am having dinner tonight at MIL's so that saves us using our own supplies. Tomorrow I am using anything that is in the freezer. Wednesday is usually my food shopping day but I am determined to get through the rest of this week without doing any shopping!


    I have a bid of 8.50 so far on something on ebay which doesn't end until tomorrow. So once I get the money for that it is going straight off the Barclaycard. I'm hoping to have that cleared with my next pay. That will be another debt gone.


    We have been testing it out this week to see how we can cope with only 1 car in the house. So far it is working out ok. So if by the end of the week we get on fine then we are going to sell one car. The money we get from that is going to be paid off the loan. We are hoping to get close to 3k for it so that would bring the loan down to around 13k. I would be delighted to knock 3k off the debt in one chunk. I just need to phone Santander and ask how I can make overpayments on the loan. It is the only thing we are paying interest on at the minute so that's the debt we need to work on clearing first. The credit cards are all on 0% for another 30 months.


    Anyway, enough of my rambling. You can tell I am feeling focused today!
    Have a good day everyone :-)
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 11th Jun 18, 11:15 AM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    Morning,


    I can't believe it is Monday again. Only 4 more days until payday though! My Barclaycard will be no more come Friday. That will be 2 debts gone - the overdraft and Barclaycard. It's great to finally see some movement on our debt.


    So far this month I have managed 4 NSD's. Over the weekend I spent very little (1.85 on eggs and 95p on milk) I'm delighted with that!


    DH and I are going to go out for something to eat on Friday night. We got vouchers for our anniversary so it won't cost us anything!


    Today I just need to get a few things in the local bargain shop so that should come in at less that 5.


    Tonight is weigh in night at Slimming World. I'm hoping I have lost a few pounds this week. Fingers crossed!


    Other than that I am still feeling very positive. Come Friday that will be 2 months that we haven't got in anymore debt. We are finally starting to clear this. It's like our whole mind-set has changed!


    xx
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 12th Jun 18, 4:14 PM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    Not much going on with me today.


    I contacted Santander about making overpayments on the loan so just waiting on them getting back to me.


    I have done a bit of online shopping for Father's Day all using a voucher I had so it hasn't cost me a penny.


    3 more days until payday. I can't wait to update my signature!!
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
    • LullaBelle
    • By LullaBelle 13th Jun 18, 9:08 AM
    • 116 Posts
    • 130 Thanks
    LullaBelle
    Good Morning!


    I have just checked my online banking and I have a grand total of 6.32 in my account. Thank god it's payday on Friday. So today and tomorrow will be NSD's. That will mean I will have done 6 this month. I'm pleased with that. I'll try for 7 next month and build it up each month going forward.


    Checked my topcashback account this morning and I had 37p payable so I have transferred that to my bank account and will put that off debt this month. I know it's small but it will all add up right? They also have a competition running and I managed to win 20p!


    Hope everyone has a great day!
    Virgin 4892.50/ 4730
    Loan 16587.87/15965.46
    Sofa 1100 / 848.88 DH Virgin 6550 /6190
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 27734.34
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