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  • FIRST POST
    • crunch_time
    • By crunch_time 23rd Oct 16, 8:22 PM
    • 1,150Posts
    • 3,429Thanks
    crunch_time
    Learning to budget to make future adventures happen
    • #1
    • 23rd Oct 16, 8:22 PM
    Learning to budget to make future adventures happen 23rd Oct 16 at 8:22 PM
    Evening everyone!

    I've decided its time for a new diary after sort of losing steam with my old one.

    In September 2013 our debt peaked at £29k. With some luck, a vague budget, changing priorities (kids), and some significant salary increases we have now got it down to circa £13-14k.

    I have learned lots during the process but the thing that I feel is holding us back is our inability to stick to a budget (or, more accurately, create a realistic budget).

    So basically the grand plan is to smash this 'debt hangover' as the hubs and I call I, as soon as possible so we can start using the money we currently use to pay it off for the adventures we have been planning pretty much all our adult lives. And also the things we should be doing at our age to be financially savvy like overpay the mortgage, contribute more into pension pots etc etc.

    I love the support from the wonderful people on this forum and look forward to sharing this adventure with you all!

    More info to follow!

    Crunchy
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
Page 32
    • crunch_time
    • By crunch_time 5th Mar 18, 1:29 PM
    • 1,150 Posts
    • 3,429 Thanks
    crunch_time
    Afternoon all,

    I can't believe it has been over a month since I last posted!!

    I got locked out of my account and so put off sorting it out for a while and then got busy with course stuff and life.

    We have been working really hard to stay on a budget but it has been really hard since our monthly bills are more than we anticipated and we have had lots of things to pay for.

    Things to update you on:

    - I have set up the husbands car tax as a monthly direct debit to give us a little breathing space.

    - We have just taken another half tank of oil so hopefully, we will get some warmer weather soon so we won't need the heating on so much. I have put in our budget £80 to save each month so we can stock up in the summer. Now we know roughly how much we use we can start to look at ways to reduce it.

    - we are still not paying electricity as all the back office with the national grid needed to be sorted before they could do a bill. It will be backdated of course but in a way that we can afford.

    Here are the current categories of debt totals

    Category 1 Debt

    Not to be thought about until I'm earning money from my business.

    - Holidays - £986 - no change from last month (to be paid off from my business earnings.
    - New business course fees and set up £2079 - no change (to be paid off from my business earnings)

    £3065

    Category two debt

    To be paid off more quickly once category 3 debt paid off. Currently ticking over with husbands £100 a month.

    - New house building materials £360
    - Furniture £861
    - Dogs castration £121

    £1327

    Other carp from 2016

    £1432

    Category 3 debt

    This what I am currently tackling with my £90 a month and extra money we may have

    - Balance transfer fees and interest - £68
    - Food overspends - £506
    - Fuel overspends - £240
    - Spending money from last summer £190

    My makeover money - after years of neglecting myself, this new lease of life I have has made me think about looking after myself a but more......

    - Makeup and face creams - £45
    - yoga ebook £22
    - Business books - £30

    £1101

    So total debt = £6,925!!!!!

    So I'm finally under £7k

    The holiday fund is looking healthy too. I have just sold some bits on ebay so looking forward to upping it a little more this week.

    Hopefully I will get back into the habit of posting more often in a way that doesn't make me feel anxious. It is going to be slow or not at all for these next few months, even this year and THAT IS OK!

    So long as we are sensible.

    Must have a long overdue catch up on diaries.

    Crunchy x
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
    • Seasidegal58
    • By Seasidegal58 10th Mar 18, 10:38 AM
    • 2,133 Posts
    • 13,232 Thanks
    Seasidegal58
    All sounding very organised crunchy. Well done!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: £1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: “Paid off the £31,0000! BUT- still scrimping!”
    • Nicnak
    • By Nicnak 11th Mar 18, 7:26 PM
    • 980 Posts
    • 5,393 Thanks
    Nicnak
    That's amazing organisation. It definitely helps when you know where it is coming from and going to.

    Under 7k is amazing too. Progress, is amazing and it is going the right way. I am hoping for more warm weather too. I think I need to give readings for the gas and electricity, but think we will end up owing them as we have probably used up more than originally thought this year.
    x
    September 6th 2017 - Updated 26th August
    Credit Card £0 now: £0 Tesco Loan £7500 = £0 Consolidation £15,000 = £12,450 Total = £25,330 £12,192 52% gone EMF #252 = £1200/£1000
    Sealed pot challenge #589
    Pay off all your debts by Christmas #71
    • crunch_time
    • By crunch_time 22nd Mar 18, 9:31 AM
    • 1,150 Posts
    • 3,429 Thanks
    crunch_time
    Morning debt free diary land!

    Well it!!!8217;s not going at all well here. Husband actually wants to chat about money which must mean it!!!8217;s serious as he has always been reluctant.

    Basically we have had another tax bill of £946 from claiming child tax benefit when we are over the threshold. Husband tried to sort it out last year but got told he could still claim it but not the whole amount (I really don!!!8217;t know the details) but he was misadvised and now we have to pay it back. He is going to ring up to see what payment plan he can get and worse case scenario is he has to take out an overdraft to cover it then we pay off the overdraft.

    Also had a big bill for the car as it failed it!!!8217;s MOT £460 ish!!! The garage doesn!!!8217;t accept credit cards so I have had to rob the holiday find and the Christmas fund AND the grocery fund to pay for it!!

    So, because of all this I have connected two supply teaching agencies to register and earn the money to pay it off!

    I!!!8217;ve been wiped out be a virus these last few days so couldn!!!8217;t make my appointments so will have to rearrange them.

    Being ill though has given me some perspective and I feel calm and collected and !!!8216;right let!!!8217;s take care of this.!!!8217; We have been here before with less money so I know we can do this.

    I feel in a good place with my course now to allow space to do some supply and I can fit it around my weekly commitments.

    I!!!8217;m also working on my confidence and knowledge so I can start looking for work with my new business sooner than when I finish the course.

    Sigh.

    Crunchy x
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
    • JoJoC
    • By JoJoC 22nd Mar 18, 10:38 AM
    • 1,128 Posts
    • 6,894 Thanks
    JoJoC
    It never rains but it pours Crunchy! I'm glad that you're taking a positive attitude to fixing the situation though, it's so easy to be dragged down by this stuff.

    On a smaller scale, last night within about 2 hours of each other, my suitcase burst at the airport (not fixable), my microwave stopped heating things up and my kettle still boils but it will not open so we have to trickle water into the spout to get water in. So annoying!
    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*
    • enthusiasticsaver
    • By enthusiasticsaver 22nd Mar 18, 10:53 AM
    • 7,078 Posts
    • 15,327 Thanks
    enthusiasticsaver
    He should be able to repay it over the year. They should just change his tax code.

    Why dont you use the long term savings for the car bill or is it locked away?
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • crunch_time
    • By crunch_time 22nd Mar 18, 11:35 AM
    • 1,150 Posts
    • 3,429 Thanks
    crunch_time
    I could access it but I don!!!8217;t want to really - That!!!8217;s for a REAL emergency you know?
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
    • crunch_time
    • By crunch_time 5th Apr 18, 4:16 PM
    • 1,150 Posts
    • 3,429 Thanks
    crunch_time
    Afternoon all,

    It's really sunny here so I am currently typing this outside! Been sooooo busy with my course and juggling everything else my diary is taking a back seat.

    So the HMRC bill ended up being £1100. I dont know why - Husband deals with it but we now have an overdraft for that amount. The car also failed its MOT and to get it through we needed £460 worth of work too. So that is now sitting on the credit card. Along with a second-hand tent and £300 worth of stuff to get the garden straight this summer.

    Its not awful - we knew this would happen. Even though husband earns a really good salary, moving to a bigger house has seen our bills go up by £150 a month with extra heating and council tax and our mortgage has gone up £450 a month. So now I dont earn we no longer have the cushion or spare budget for car repairs etc.

    I need to relook at our budget to see what we can do other than accept that this is the status quo for the time being, roll with it and keep the damage minimal.

    The good news....

    - I still have £150 for the holiday so that is all going in the right direction for now.
    - The original credit cards are edging closer to the £6k mark.
    - Im starting to get inquiries for my business even though I havent finished the course yet.
    - since the HMRC fiasco, husband is very on board with saving money.

    I've decided not to do supply for now as I cant get appropriate childcare.

    Ive made my bed - I have to roll with it for now.

    At least it is all under control and for things that we need.

    Do you think I should use some of the savings to pay for the car service? Im thinking so. I dont feel comfortable paying off the overdraft with it but it would go towards something at least.

    Crunchy - trying not to feel overwhelmed.

    xx
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
    • Seasidegal58
    • By Seasidegal58 5th Apr 18, 8:28 PM
    • 2,133 Posts
    • 13,232 Thanks
    Seasidegal58
    Sorry to hear about the tax bill. But it sounds like hubby is having a bit of a light bulb moment so that's a positive.

    I'd pay off the car bill with the long term savings. Do you think perhaps you should get an emergency fund going? If you had at least £500 as a start then things like the MOT wouldn't throw all your plans out. Perhaps allocate funds from the long term savings?

    On the positive front it's great that you've received enquiries on your business already. Must have bucked you up no end!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: £1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: “Paid off the £31,0000! BUT- still scrimping!”
    • crunch_time
    • By crunch_time 6th Apr 18, 1:59 PM
    • 1,150 Posts
    • 3,429 Thanks
    crunch_time
    So I am facing the music - here is our current SOA.

    Any advice/comments welcome!

    Household Information
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 2

    Monthly Income Details
    Monthly income after tax................ 3434
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 3434

    Monthly Expense Details
    Mortgage................................ 1136
    Secured/HP loan repayments.............. 350
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 172
    Electricity............................. 80
    Gas..................................... 0
    Oil..................................... 80
    Water rates............................. 14 (We have a septic tank so need to pay a company to maintain it but havent got this sorted yet)
    Telephone (land line)................... 62 (includes internet as well)
    Mobile phone............................ 34
    TV Licence.............................. 12.12
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 415 (includes dog food)
    Clothing................................ 100
    Petrol/diesel........................... 150
    Road tax................................ 10.06
    Car Insurance........................... 55
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 48 (it won't be this every month - worst case scenario)
    Other child related expenses............ 84 - Swimming
    Medical (prescriptions, dentist etc).... 29.5
    Pet insurance/vet bills................. 23 (inlcudes £15 for vets annual jab, flea and wormers, nail clip
    Buildings insurance..................... 0 (I have paid for this upfront but no plans as to how to pay next year)
    Contents insurance...................... 0 - as above
    Life assurance ......................... 77
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0 We were budgeting £50 a month but have eaten into this with living costs
    Haircuts................................ 50
    Entertainment........................... 100
    Holiday................................. 0 (just saving what we can for this)
    Emergency fund.......................... 0 (eek)
    Total monthly expenses.................. 3081.68


    Assets[/b]
    Cash.................................... 3340
    House value (Gross)..................... 355000
    Shares and bonds........................ 0
    Car(s).................................. 0 We own 1 outright (10 years old) and one PCP but dont consider them as assets.
    Other assets............................ 0
    Total Assets............................ 358340


    Secured & HP Debts[/b]
    Description....................Debt......Monthly.. .APR
    Mortgage...................... 300122...(1136).....2.13 might be less - not important
    Hire Purchase (HP) debt ...... 15030....(350)......Dnt know apr
    Total secured & HP debts...... 315152....-.........-

    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Overdraft......................1100......10....... .17.5 (HMRC bill)
    Credit card - HSBC 0%..........2024......100.......0
    Credit card - Sains 1..........4257......100.......0
    Credit card - Sains 2..........1562......20........17.5 - this is huge at moment - includes car bill and a few other bits I had to pay up front for future events)
    HSBC - Husband.................795.......20........17.5 (some of this is expenses, the rest is bits we HAD to buy for the new house e.g. wood for loft and bits for garden so we can have grass to play on this summer - to go on 0% ASAP)
    Total unsecured debts..........9738......250.......- [/b]


    Monthly Budget Summary
    Total monthly income.................... 3,434
    Expenses (including HP & secured debts). 2,997.68
    Available for debt repayments........... 436.32
    Monthly UNsecured debt repayments....... 250
    Amount left after debt repayments....... 102.32

    Personal Balance Sheet Summary
    Total assets (things you own)........... 358,340
    Total HP & Secured debt................. -315,152
    Total Unsecured debt.................... -9,738
    Net Assets.............................. 33,450
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
    • crunch_time
    • By crunch_time 6th Apr 18, 2:07 PM
    • 1,150 Posts
    • 3,429 Thanks
    crunch_time
    Sorry to hear about the tax bill. But it sounds like hubby is having a bit of a light bulb moment so that's a positive.

    I'd pay off the car bill with the long term savings. Do you think perhaps you should get an emergency fund going? If you had at least £500 as a start then things like the MOT wouldn't throw all your plans out. Perhaps allocate funds from the long term savings?

    On the positive front it's great that you've received enquiries on your business already. Must have bucked you up no end!
    Originally posted by Seasidegal58
    Thanks seasidegal - regarding the HMRC bill it is for child benefit that we don't qualify for since husband earns above the threshold. He was told last year when he tried to cancel it that we would qualify for some so we carried on knowing that we would have to make a payment at somepoint. TBH as its to do with his salary I left him to it and buried my head in the sand. Husband has a different attitude to money than me - more fly by the seat of his pants. He thinks £3000 in savings is a lot and wants to spend it. I very much differ in opinion there.

    He STILL hasn't changed the address on his ISA and needs to go into the city with documents to do it so I am going to get him to withdraw all the money £340, close the ISA for now and use it to go towards the car bill.

    I've got to get a handle on this now before it gets out of control again.

    Crunchy xx
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
    • enthusiasticsaver
    • By enthusiasticsaver 6th Apr 18, 2:15 PM
    • 7,078 Posts
    • 15,327 Thanks
    enthusiasticsaver
    I think I would pull out the stops to get that overdraft and the two credit cards charging 17.5% paid off even if it means using savings. The alternative is balance transferring and as the debt is creeping up due to the house move and you only having one income I would be wary of that going higher. Are the savings earmarked?

    Clothing is quite high but I guess that is to cover kids shoes too? Surely the fees on that overdraft will be more than £10 per month?

    When do you expect to start seeing an incom3 from your business and will you have start up costs?
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • crunch_time
    • By crunch_time 6th Apr 18, 2:59 PM
    • 1,150 Posts
    • 3,429 Thanks
    crunch_time
    I think I would pull out the stops to get that overdraft and the two credit cards charging 17.5% paid off even if it means using savings. The alternative is balance transferring and as the debt is creeping up due to the house move and you only having one income I would be wary of that going higher. Are the savings earmarked?

    Clothing is quite high but I guess that is to cover kids shoes too? Surely the fees on that overdraft will be more than £10 per month?

    When do you expect to start seeing an incom3 from your business and will you have start up costs?
    Originally posted by enthusiasticsaver
    A lot of what is on the 17.5% credit cards will come off soon. E.g. some of the £460 car bill, some clothes that I ordered online on my credit card and returned. You are right about the clothes - it doe include shoes for the children as well as trainers for a running husband. My children seem to be growing like the clappers at the moment and I have had a spree for the summer whilst I have seen stuff. I've found over the years £100 does cover it but I buy when I see and need and then pay off with the £100 at the moment so there is some new stuff on the credit cards which will go over the next two months. Husband will merge his credit cards together onto a 0% but cant at the moment due to the overdraft - need to give it a few months.

    Savings arent earmarked for anything other than emergencies.

    start up costs for my business are already on my credit cards - course fees, new laptop, software etc.
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
    • crunch_time
    • By crunch_time 7th Apr 18, 8:22 AM
    • 1,150 Posts
    • 3,429 Thanks
    crunch_time
    Morning diary

    I!!!8217;ve decided to try and post on here more often and make time for it. It has helped me loads in the past so it can help me through this period of change.

    So husband is off to the city this morning to withdraw £340 from his ISA to pay off some of the £460 car bill.

    He!!!8217;s taking the kids so I can do some work. I will also go through my SOA this weekend and make a list of everything we need to do to turn this tanker around.

    Right off to make another coffee and put a load on!

    Crunchy x
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
    • crunch_time
    • By crunch_time 7th Apr 18, 12:08 PM
    • 1,150 Posts
    • 3,429 Thanks
    crunch_time
    I have been going through our outgoings to see what we can do to reduce them and have the following thoughts.

    - Both car insurances are up for renewal these next two months and both husband and I will have lost 3 points each from 3 years ago so hopefully they will go down a little. Will ring up existing providers first.

    - Fuel - At the moment we are paying for fuel in arrears as it was stressful budgeting too little and ending up with more on our credit cards. I'm super honest on my spreadsheet and always pay off last months fuel before anything else even if it is over my £150 a month budget. At the moment we fill my car up twice and the husbands once. This should reduce as husband is working away less now and we don't really use his car that much. Also my DD was doing friday mornings at nursery but i have cancelled it from after Easter. The nursery is 20 mins drive away so by the time I get back from dropping her off after her brother, i have about 2 hours and then it takes an hour out of my day to pick her up. Im going to go to the local playgroup instead so we both can spend time together and make friends in the village.

    - haircuts - I budget £50 a month but I think in reality it is more than this. - must look at this properly.

    - Oil - we have half a tank of oil right now which should see us through a fair bit. I'm going to put the £80 a month i save towards something else for 2 months to cut us some slack and then start saving up for the winter months.

    - my 0% credit card min payment is actually £90 so I have reduced it to that to cut us a tiny bit more slack.

    I've adjusted a few things on the spreadsheet already and they has boosted our budget and gives us about £200 to decide what to do with.
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
    • crunch_time
    • By crunch_time 7th Apr 18, 12:14 PM
    • 1,150 Posts
    • 3,429 Thanks
    crunch_time
    My credit card wasn't actually as bad as I thought. I said in the SOA it was £1562 but it was actually £1388 once I had looked at my statement.

    I'm waiting for refunds for £128 and £87 and then will pay off £340 of the car repairs once that clears so it is more like

    £833

    £228 is from my spring/summer clothes spree which will be paid off over the next 2-3 months.

    So much better than I thought.

    Next thing to do is make a list of everything that is coming up over the rest of the year and then budget for it.

    Crunchy x
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
    • crunch_time
    • By crunch_time 9th Apr 18, 5:28 PM
    • 1,150 Posts
    • 3,429 Thanks
    crunch_time
    Afternoon all

    After spending a few days wondering how to juggle all our future outgoings, I've just spent an hour or so going through my budget with a fine tooth comb. I've done a % category budget that looks like this:

    Housing - 30%
    Savings - 8%
    Holidays, childcare and swimming lessons - 12%
    Utilities - £14%
    Food - £10%
    Transport (car payment, fuel and maintenance and car replacement fund) - £15%
    Entertianment - 3%
    Christmas & Birthdays - 2.5%
    Clothes - 2.5%
    Stuff (furniture, things we need to buy) - 3%

    I'm very happy with it. Some categories like housing leave us with wriggle room to allow us to pay off the impending moving costs.

    I'm very much hoping it will keep us on the straight and narrow and make us realistic about our money and where it is going.

    Right, enough of this now. Must get on and pack up ebay parcels.

    Crunch x
    Originally posted by crunch_time
    I’ve just remember this post from last year and feel I need to adjust this for our current budget so I’m quoting it here to work on later!!
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
    • Seasidegal58
    • By Seasidegal58 9th Apr 18, 8:20 PM
    • 2,133 Posts
    • 13,232 Thanks
    Seasidegal58
    The percentage calculations look a very good idea crunchy. It will be interesting to see how the new schedule looks against last year!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: £1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: “Paid off the £31,0000! BUT- still scrimping!”
    • crunch_time
    • By crunch_time 9th Apr 18, 8:45 PM
    • 1,150 Posts
    • 3,429 Thanks
    crunch_time
    So this is what the % look like now and what we will go forward with...

    Mortgage £1136 33%
    Utilities £663 19%
    Food £450 13% - includes pet food and toiletries +
    Car £350 10%
    Fuel £150 4%
    Entertainment £185 5% - this has gone up by £85 +
    Clothes £100 3%
    Stuff £200 6% - This is the min credit card payments
    Health £100 3%- Haircuts, chiro, dentist etc
    Swimming lessons £50 2%
    Nursery fees £45 1% - won't be this every month

    When I start earning, after tax, ni and pension i will start paying for the following:

    - Savings
    - Holidays - including paying off those on our 0%
    - Christmas and birthdays
    - Course fees - currently on credit card.
    - HMRC bill - unless husband gets a good payrise (due in July) then he can start paying this off.

    This is a fab way of organising our money. Any excess from these categories will go towards debt and our savings fund is our emergency fund for the time being.

    I have paid the £340 off the car repairs bill. Still waiting for a refund from next and I need to post off the other one tomorrow.

    We have also earmarked a couple of things in the shed to sell so I will get onto that too.

    It's nice to be getting back into the loop.

    Crunchy xx
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
    • crunch_time
    • By crunch_time 10th Apr 18, 8:03 AM
    • 1,150 Posts
    • 3,429 Thanks
    crunch_time
    Morning diary!

    Husband is away for work for the next two days so it!!!8217;s just me and the kiddies. I used to freak out a bit about this but I feel so much better about it now. We are having a lazy morning and then going on an !!!8216;adventure!!!8217; this afternoon.

    My course is training me to be a social media manager and I!!!8217;m running my own grassroots campaign which involves getting out and about and exploring the local area. I love it very much. So this afternoon we are going to a new town to explore and take photos.

    I rang up about my car insurance yesterday and they have in fact raised it by two pounds. I went on a comparison website to see if I could get it cheaper and I can!!!8217;t so today I shall ring up and find out why it!!!8217;s more.

    I also need to post the jeans back to give me back some money on my credit card.

    The new % above will start from next month. I like it as it feels I have lots of money! And I have faith it is going to work out as I know now what we can afford.

    And where the wriggle room is.

    Have a lovely day!
    Crunchy w
    LBM 16/6/14 £23,555 Paid off April 2017!!
    Then changed careers and moved house!
    Debt 16th June 2018 = £13,116 vs now £14,058
    Savings - £1800
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