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    • Bobarella
    • By Bobarella 25th Jul 16, 7:16 PM
    • 10,441Posts
    • 69,775Thanks
    Budget Wars - A New Hope (with apologies to George Lucas)
    • #1
    • 25th Jul 16, 7:16 PM
    Budget Wars - A New Hope (with apologies to George Lucas) 25th Jul 16 at 7:16 PM
    A New Hope is a very fitting title for my first ever DFW diary. For the first time in around 18 months I really have hope. I am one of those people who has always seen September as the start of the year. Because of back to school I suppose. And this year is the first September I can honestly say I am 100% looking forward to in years.

    My situation is complicated but to simplify, I took the enormous step to not only become self employed but to sell my family home to finance my new business in 2011. I turned my back on a very well paid career to go out on my own.
    In that period I have had many challenges. Gone to hell and back owing wages and HMRC. Dont worry the wages were paid back long ago as quickly as I could. And I repaid HMRC.
    The stress of being responsible for other peoples lives is intense if you've never been there. At my lowest point I deactivated my voicemail to avoid the energy company being able to contact me.

    At one point I owed around £40,000 all business related. Primarily on a loan, but some CC.

    Time and again I bashed my head against my mental bars and wondered if I could physically carry on. But I did. Through hell and high waters. Quite literally in fact....

    This last year has not been easy. I worked as the sole employee of my business during my entire pregnancy with DD and went into labour whilst still at work. When my baby was 4 months old I got seriously ill and spent a week in hospital. My lovely FIL was diognosed with the big C 2 months ago. And life has wobbled along precariously as always.

    The reason for my new hope is I finally made a big decision. To stop the business I am running & build another. It wont be easy but it will get me out of the hole I am in & allow me to take on paid employment around the new business. I have 4 days left of my old situation and then good night vienna!

    I love MSE. It and the people of it have been such a comfort. And now I am hoping to use this diary as a place for me to record my baby steps towards a life less stressful, adrenaline filled & chaotic.

    Last edited by Bobarella; 25-07-2016 at 7:34 PM.
    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
Page 99
    • Treadingonplaymobil
    • By Treadingonplaymobil 11th Oct 17, 5:30 AM
    • 1,602 Posts
    • 16,387 Thanks
    Bob, I hope you've been able to find a way forwards. It's so hard when the income just isn't coming (having a not dissimilar problem myself) but the transition from self employed to employed is a huge and difficult one for all sorts of reasons (childcare not least among them).
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017: £38,608 unsecured debt/£20,000 parental loan/£173,282 mortgage = £231,890
    debt on 6th June 2018: £13,265 unsecured debt/£20,000 parental loan/£191,971 mortgage = £225,236
    • mfmaybe
    • By mfmaybe 17th Oct 17, 3:48 PM
    • 1,131 Posts
    • 3,642 Thanks
    Bob things must be incredibly tough right now. Please ignore if this doesn't fit with your venue, but I know someone who is setting up a business doing children's cooking classes. I'm not sure of her particular location or requirements, but it got me thinking whether you could offer your venue to that sort of thing? It looks like you have a lot of evening bookings which are particularly tough on family life; but perhaps kids craft classes or baby yoga or anything like that could happen during the day. You might not be able to charge much for the venue, but if you had clubs or activities in, perhaps you could go with your little one, and therefore travel about a bit less, as well as enjoy what was on offer?

    Anyway just an idea, not sure if it's a market that appeals or is even feasible. Best of luck.
    BTL Overpayments since 20/4 £30.63

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: £17,005
    • Bobarella
    • By Bobarella 20th Oct 17, 11:40 AM
    • 10,441 Posts
    • 69,775 Thanks
    Hello All

    Sorry, I often think about the forum, but the realities of needing to sit down at a desk to write a decent post mean it ends up being posts I compose in my head and then dont get down on paper.

    Thanks to everyone who has commented since my last post, its very kind and much appreciated. Will reply to specific comments as quickly as possible!

    So. Since my last post must be 2 weeks ago? Everything has changed. After having the longest dry spell I've ever encountered (from June to September) things just went insane. I have no idea why. But since the start of the month we've taken in double, and have forward cash flow into April. I've been so busy I've hardly coped on that side, between running around for meetings, invoicing, keeping on top of current bookings, the list goes on. Another reason I havent been able to update.

    My rates reevaluation is also done, and I dont have any rates to pay now until whenever they next reevaluate, I can see it all on the councils online system but no letter has come out yet hence why im a bit wooly on the details. I couldnt believe my eyes when I logged in to see that I was now in credit!

    In all honesty I think I've passed the last week in a state of euphoria, I cant imagine how people who win the lottery must feel. It has been a true awakening of thinking all day only of the basics, how will I pay this, how will I do that? To starting to think again of happier things, a decent birthday for my son, christmas with nice things instead of feeling pretty damn low.

    I dont know what I think at the moment.

    There has been another bit of good luck for me, not so for others which I cant say about exactly, but suffice to say that has counted towards my good fortune too. Im helping people out who need to be helped, so they are happy about that and its helped stabalise my situation.

    And that is all for now folks!

    I do hope I can get back to being here more again. I have so many hopes for getting onto an even keel again, but its hard when you go from thinking this is it, Im going to have to close my business, to everything being amazing in the space of 2 weeks. It does stuff to your head.

    So Im just trying to live each day now and hope the run down to christmas (and 2 rent free months thereafter) will go smoothly...ha ha famous last words.

    Love to all.

    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
    • Purplemumof2
    • By Purplemumof2 20th Oct 17, 11:43 AM
    • 6,153 Posts
    • 22,636 Thanks
    Hi Bob,

    So nice to see your post

    I truly am happy that things have changed for you and are finally going your certainly deserve it xxx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £6200.00 Cap 1: £395.80 BC: £6841.81
    AFD xxx LTW 6/16
    POAMAYC 2018 #041 PD £6288.87/£7000
    Savings for Christmas £191.84/£365
    20p Savers 2018 £2 Savers 2018 50p Savers 2018 SPC 11 2018 #003
    • Hiddenidenity
    • By Hiddenidenity 20th Oct 17, 12:16 PM
    • 5,213 Posts
    • 26,743 Thanks
    I'm so glad to see such a positive post Bob. I'm also really happy that some of the financial worries have been lifted x

    In between all the hetic work life and home life make sure you squeeze a bit of down time for you even if only a small amount.

    Look after yourself xx
    • Verbatim
    • By Verbatim 20th Oct 17, 7:01 PM
    • 4,581 Posts
    • 13,664 Thanks
    Wonderful news Bob. You certainly deserve all the good luck in the world. Hope you have a super birthday for your son and a lovely Christmas.
    Last edited by Verbatim; 21-10-2017 at 9:49 AM. Reason: typos
    CCs @0% £24k Dec 05 £19,621.41 Au £13400 S 12600 Oct £11,981 £9481 £7500 Nov £7250 D £7100 Jan 6950 F £5800 Mar£5400 May £4830 June £4660 July £4460 Aug £3200, S £900, £0 18/9/07 DFW Nerd 042
    • f0xh0les
    • By f0xh0les 20th Oct 17, 7:16 PM
    • 1,488 Posts
    • 12,361 Thanks
    MFW START DATE May 16 £118,340 : Oct17 - £109,495.00Dec17 £108,800Jan 18 £108,392.98 March 18 £108,504.72April £108,099May £106,999
    June 105,999.99
    NEXT GOAL is sub £105k before JulyMortgage-free wannabe 2018 #65
    • apple muncher
    • By apple muncher 20th Oct 17, 7:45 PM
    • 7,386 Posts
    • 55,642 Thanks
    apple muncher
    Long may it last x
    NST June Odyssey #20; NSD 11/15; Ex 9/20 ; craft / (69); remove 54 (433)
    2018 Pay off: £2110; 2
    018 sell

    Mortgage £21,033 (01/14: £78,201; 01/15: £59,629; 01/16: 39,915; 01/17: 27,295; 01/18 23,143) MFWDate Dec 2018
    • JoJoC
    • By JoJoC 21st Oct 17, 9:36 AM
    • 1,183 Posts
    • 6,822 Thanks
    Absolutely fantastic news!

    Well done on doing everything you have done to make this happen - don't put it down to luck! It's a build up of your hard work finally paying off. Long may it continue!
    CC1: £4481.14/ £5031.14 (12% paid off, £600) | CC2:£3307/ £3807 (14.4% paid off, £550) | Loan: £10,528.20/ £15,792.30((33% paid off, £5,264))

    July debt total: £24,630.44 | New debt total: £18,316.34 | Total debt paid: £6,414.10 (26%)
    *My debt busting and savings diary*
    • chanie
    • By chanie 21st Oct 17, 10:30 AM
    • 2,029 Posts
    • 10,565 Thanks
    What great news
    2018 challenge to save £1000
    Spend less - £516.13
    Live more - £1712.05
    My spending diary - Spend Less, Live More - a spending diary
    • 1LuckyLady
    • By 1LuckyLady 21st Oct 17, 10:26 PM
    • 837 Posts
    • 7,728 Thanks
    FANTASTIC TO READ YOUR LAST POST BOB!! Many best wishes to you and yours xxx
    Sticking with the "Small things" thread to keep up us on the straight and narrow.
    • sweetpea26
    • By sweetpea26 22nd Oct 17, 6:17 AM
    • 707 Posts
    • 4,657 Thanks
    Wonderful update Bob. Absolutely delighted for you
    • Suffolk lass
    • By Suffolk lass 22nd Oct 17, 7:45 AM
    • 1,951 Posts
    • 20,901 Thanks
    Suffolk lass
    Genuinely pleased for you that things have picked up. Long may it continue. As JoJoC said, this is no coincidence. Great news
    MFiT T4 #2 update 88.72% after Q9 tiny bit ahead of where I should be
    Save £12k in 2018 #53 - after May 45.81% £4,581.38/£10,000
    OS Grocery Challenge 2018 spent £1,021.80/£3,000 including stores so far 34.06% of my annual budget at the end of May
    My DFD is here
    • Seasidegal58
    • By Seasidegal58 22nd Oct 17, 12:33 PM
    • 1,993 Posts
    • 12,263 Thanks
    Bob - what wonderful news! When your feet touches the ground I hope you manage to post regularly again. Missed your entertaining stories on MSE meals, finding road kill etc.

    Congratulations and long may the work flow continue!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 23/06/2018: £665.09
    My diary: “Paid off the £31,0000! BUT- still scrimping!”
    • sashybo
    • By sashybo 23rd Oct 17, 10:51 PM
    • 2,775 Posts
    • 20,587 Thanks
    Aww excellent Bob! So pleased things are going well.
    Success is not final, failure is not fatal: it is the courage to continue that counts.

    PAD started 27/01/09 - £10,617 extra paid off debt. Total Debt paid off £51,528
    Loan £2095.14, CC 0% BT £985, Car loans £22,206.11

    Have a Debt Free Diary to try & keep spending in check.
    • crazy_cat_lady
    • By crazy_cat_lady 24th Oct 17, 11:37 AM
    • 3,548 Posts
    • 30,520 Thanks
    Bob I'm thrilled to read your post - really, really pleased. You deserve some good fortune after working so hard for so long.
    Long may it continue...
    June Odessy NSD 6/10 DFD 6 Nov 15 - paid £28,447
    • mummytogirls
    • By mummytogirls 24th Oct 17, 2:08 PM
    • 6,183 Posts
    • 22,714 Thanks
    Brilliant last post from you Bob xx
    Mummytogirls x

    £23164.32 - 12/12/10
    £5419.83 - 08/04/18 - 76.61% paid off
    • hugglemonster
    • By hugglemonster 24th Oct 17, 2:08 PM
    • 366 Posts
    • 1,675 Thanks
    Great news that things have turned a corner and you have some steady income coming in, it must be hard work emotionally to keep going with the ups and downs of running your own business.

    Hope you're keeping well.

    H x
    Debt:Overdraft 2 £1900 Credit card £2200 now £1770 Car - Purchased £11,518.40 now £7983.96 Barclays loan 3000 now £2981.24
    PAID - Computer £646.52, Overdraft 1 £2200
    Emergency fund: £0 General savings: £200
    • greent
    • By greent 26th Oct 17, 2:50 PM
    • 7,081 Posts
    • 72,156 Thanks
    Great news x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £1068.37/£4000
    Net sales 2018 £522.39/£1000 PAYDOX18 (#15) £18564.38/£18918.90
    • 117pauline
    • By 117pauline 26th Oct 17, 3:53 PM
    • 653 Posts
    • 7,282 Thanks
    Brilliant. It hasn't been the same without you

    Take care
    Don't get it perfect - Get it going
    Better Than Before
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