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    • Suffolk lass
    • By Suffolk lass 28th Jan 17, 12:18 PM
    • 1,971Posts
    • 20,630Thanks
    Suffolk lass
    Get a grip woman!
    • #1
    • 28th Jan 17, 12:18 PM
    Get a grip woman! 28th Jan 17 at 12:18 PM
    Having been reading a number of people's debt-free wannabe diaries for some time now, I have finally decided I will start my own.

    We are less than three years from wanting to stop work, and less than ten years from state retirement age. I manage our household finances and DH lets me get on with it. His attitude is more "live for today" so we are a good balance, I think. We have two holidays each year and sometimes more - and he has some boys toys - 2 Harley Davidson motorcycles in the garage, that seem to always need money spending on them. That said, there is more to be said in favour of a happy and contented DH than against them so I don't resent them in any way.

    So to debts - It seems a good time because I have recently finished the finance on my car, and as of yesterday, paid off the finance for DS's car (I borrowed from him 18 months ago and paid back by buying his car on finance and paying his insurance). I was paying 4.7% on that debt so it was my highest priority. I paid it off 10 months early using most of my HSBC Regular Saver that matured this week.

    The debts I have currently are:

    110,621 - Mortgage - interest rate of 0.74% (0.5 above the BoEBR)
    3,476 - DH's car - 0% credit card until Sept 17 - a 4000 cash advance with a 76 fee
    8,755.54 - Barclays Finance for double glazing 0% over 2 years 2/24 paid

    Total 122,852.54

    It isn't that I can't afford to keep up payments, it is more that I want us to start our non-work phase without them hanging over us, if you know what I mean.

    I think that will do for a scene setter.

    SL
    MFiT T4 #2 update 88.72% after Q9 tiny bit ahead of where I should be
    Save 12k in 2018 #53 - after March 19.96% 1,996.19/10,000 5.04% behind
    OS Grocery Challenge 2018 spent 721.33/3,000 including stores so far 24.04% of my annual budget at the end of April
    My DFD is here
Page 19
    • Karmacat
    • By Karmacat 12th May 18, 6:03 PM
    • 29,202 Posts
    • 166,784 Thanks
    Karmacat

    5601.34
    5046.85 in total (this is last month's CC items that are being paid for this month too) but I just realised I had included the CC payments too - so double counted (phew!)

    Top of my eek-list is work-related. It does include my season ticket 713.50 until the end of May
    Originally posted by Suffolk lass
    That double counting is easily done, isn't it! Well spotted

    And as for the work-related .... how much of that can you claim back? Hoping its most of it!

    Who knew I could get 2.5kg of organic pumpkin seeds for the price of the SM 250g bags I have been buying?

    And if you did, why didn't you tell me?!
    Originally posted by Suffolk lass
    Oh my! That's a lot. I have put in a few bulk orders at Healthy Supplies, but that's amazing.

    Well done DH!

    He's got the replacement printer cartridge. It arrived by post this morning. He just said,

    "Don't worry, I checked out the company - they are UK based, with a valid VAT number, lodge annual accounts with Companies House and have proper premises in the UK (from where the goods are despatched by UK employees)"

    They might not make them here but we can make sure that when we buy them, the taxes we all pay are sticking to the UK economy for our benefit and not that of a foreign country.
    Originally posted by Suffolk lass
    I love that good for *both* of you
    Retired August 2016
    • redofromstart
    • By redofromstart 12th May 18, 6:13 PM
    • 1,681 Posts
    • 10,099 Thanks
    redofromstart

    Who knew I could get 2.5kg of organic pumpkin seeds for the price of the SM 250g bags I have been buying?
    Originally posted by Suffolk lass
    Where from please?
    • enthusiasticsaver
    • By enthusiasticsaver 12th May 18, 6:52 PM
    • 6,400 Posts
    • 13,158 Thanks
    enthusiasticsaver
    Oh my. I have continued to track everything. My totals are currently:

    5601.34
    5046.85 in total (this is last month's CC items that are being paid for this month too) but I just realised I had included the CC payments too - so double counted (phew!)

    487.20 Other things (I will look into this bucket, later)
    130.90 Food
    46.09 Drinks
    2886.59 payments
    111.49 Fuel
    875.32 Work-related
    509.26 TTs

    Still got some money in both CA with only 3-4 payments left. I will keep updating this but I will need to look critically at what is where. Top of my eek-list is work-related. It does include my season ticket 713.50 until the end of May
    Originally posted by Suffolk lass
    What does payments include? That is a pretty large category so presumably bills, mortgage, credit card payments etc? I think you do as we do and use a credit card for food and fuel and repay in full each month in which case you are double counting or the figure in spends is not accurate i.e the credit card should be broken down into categories - food, fuel, meals out etc etc and not included in payments if you see what I mean?
    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
    • enthusiasticsaver
    • By enthusiasticsaver 12th May 18, 6:53 PM
    • 6,400 Posts
    • 13,158 Thanks
    enthusiasticsaver
    Spending app trackers are great for seeing what you are spending. Santander have one which covers all spends on debit and credit cards so I swear by this one for tracking what we spend on meals out, food, fuel etc etc.
    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
    • Suffolk lass
    • By Suffolk lass 13th May 18, 7:48 AM
    • 1,971 Posts
    • 20,630 Thanks
    Suffolk lass
    Where from please?
    Originally posted by redofromstart
    here versus here on mySM. Actually for 200g bags, not 250. Another down-size pack!!
    Last edited by Suffolk lass; 13-05-2018 at 7:54 AM.
    MFiT T4 #2 update 88.72% after Q9 tiny bit ahead of where I should be
    Save 12k in 2018 #53 - after March 19.96% 1,996.19/10,000 5.04% behind
    OS Grocery Challenge 2018 spent 721.33/3,000 including stores so far 24.04% of my annual budget at the end of April
    My DFD is here
    • Suffolk lass
    • By Suffolk lass 13th May 18, 8:14 AM
    • 1,971 Posts
    • 20,630 Thanks
    Suffolk lass
    Breakdown of spend
    In terms of breakdown - first my work-related, I can claim all of it except my season ticket, which is down to me but only while I continue to work. Unfortunately, at 713.50 from 16th April to 24th May it is high (that is Easter to half-term - both planned breaks with the forthcoming one so DH and I can do a bit at home together (garden and tidying I expect).

    Payments is all of the direct debits and standing orders. I am tracking the individual ones in a spreadsheet rather than an app (still using a full-size MacBook in our study with a lovely big screen!)

    My breakdown so far is:
    Union 14.91
    ISA 260
    Union 13.86
    Council Tax 200
    Health 30.75
    TV Licence 12.37
    Mortgage 500
    Holiday 483.21
    Loan 397.98
    Water 25
    Life Insurance 91
    Mortgage overpayment 626.35
    Mobile phones (3) 110.16
    Donation 5

    I could split out cost of living from payments on debts and savings I suppose but they are all automatic. I have taken out the three credit cards but realised as I was capturing these that I have also double entered water and Life insurance so off to remove these now. I will report again next week.

    I normally use the debit card for my shopping, work-related meals, and fuel, rather than credit card, but this will probably change when I retire as my favoured CC for domestic spend is my JL card which gives me vouchers and once the travel costs drop off for commuting these will slow (and the bill will reduce)

    "Other" is my category of shame. I might look at that next week.
    MFiT T4 #2 update 88.72% after Q9 tiny bit ahead of where I should be
    Save 12k in 2018 #53 - after March 19.96% 1,996.19/10,000 5.04% behind
    OS Grocery Challenge 2018 spent 721.33/3,000 including stores so far 24.04% of my annual budget at the end of April
    My DFD is here
    • Karmacat
    • By Karmacat 13th May 18, 10:18 AM
    • 29,202 Posts
    • 166,784 Thanks
    Karmacat
    Ooh, some of your "payments" are wonderful savings: an ISA and a mortgage overpayment plus loan repayment - does that still have lots to go? Thats a lot but unavoidable, of course! Excellent to find ore double entries too

    Life insurance seems a lot? I can't remember quite what your circumstances are, SL, sorry - but as we know in my family, having life insurance to pay off debts in case of a death makes such a difference.
    Retired August 2016
    • Suffolk lass
    • By Suffolk lass 13th May 18, 11:15 AM
    • 1,971 Posts
    • 20,630 Thanks
    Suffolk lass
    The loan runs until November - it is a two year 0% interest loan for the double glazing. Planned to end before my work does. I've just popped back to put the shopping in and checked DH's credit card. Mmm, there are a few hidden treats in there. I don't mind, as long as I account for them. I have split out his April statement and all the May spends now so it really is a double month.

    Our life insurance is for 250,000 until my 70th birthday or first death and was taken out when our Son was still in school. It was designed to allow for a live-in support if one of us died, or to pay everything off and pay towards Son's guardians extra costs if we both died. If we were doing it now with a dependant it would have to be a million I suspect. We wouldn't get anything like this value-ratio if we cancelled and took out something else now. I guess if we get to 70 we will pre-pay for funerals and reduce our finance complexities, rather than go for a big policy again.
    MFiT T4 #2 update 88.72% after Q9 tiny bit ahead of where I should be
    Save 12k in 2018 #53 - after March 19.96% 1,996.19/10,000 5.04% behind
    OS Grocery Challenge 2018 spent 721.33/3,000 including stores so far 24.04% of my annual budget at the end of April
    My DFD is here
    • Karmacat
    • By Karmacat 13th May 18, 12:46 PM
    • 29,202 Posts
    • 166,784 Thanks
    Karmacat
    Sounds spot on, SL, thanks for that.
    Retired August 2016
    • Suffolk lass
    • By Suffolk lass 19th May 18, 9:15 AM
    • 1,971 Posts
    • 20,630 Thanks
    Suffolk lass
    Got the letter from the BS noting the OP on Thursday. Really disappointed that they have recorded the balance at still 74,000.10, whereas their website shows 73,999.69. On the upside the balance is 10p away from the interest rate and now just 61.05 a month - or 2 a day (whereas the website has it as 62.35 per month. I might have to track that figure.
    MFiT T4 #2 update 88.72% after Q9 tiny bit ahead of where I should be
    Save 12k in 2018 #53 - after March 19.96% 1,996.19/10,000 5.04% behind
    OS Grocery Challenge 2018 spent 721.33/3,000 including stores so far 24.04% of my annual budget at the end of April
    My DFD is here
    • Suffolk lass
    • By Suffolk lass 19th May 18, 9:31 AM
    • 1,971 Posts
    • 20,630 Thanks
    Suffolk lass
    May spend tracker update
    Here is this week's update - I have added a few more columns - and who knew 80 rows would not be enough ?

    Total 5718.93
    500.04 - Other things
    187.53 Actual possessions
    84.40 Entertainment
    218.95 Food total (inc stores)
    46.09 Drinks
    926.86 payments (bills, utilities, subs, premiums)
    1524.33 Debts
    816.97 Savings and TTs
    429.04 Fuel
    925.32 work-related (including my season ticket, over 700)

    I might need to distinguish commuting fuel from household/leisure/motorcycle if I continue with this next month
    Last edited by Suffolk lass; 19-05-2018 at 9:34 AM.
    MFiT T4 #2 update 88.72% after Q9 tiny bit ahead of where I should be
    Save 12k in 2018 #53 - after March 19.96% 1,996.19/10,000 5.04% behind
    OS Grocery Challenge 2018 spent 721.33/3,000 including stores so far 24.04% of my annual budget at the end of April
    My DFD is here
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