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  • FIRST POST
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Feb 17, 9:56 AM
    • 1,456Posts
    • 14,224Thanks
    Treadingonplaymobil
    £67,031.92 is a frightening number indeed....
    • #1
    • 12th Feb 17, 9:56 AM
    £67,031.92 is a frightening number indeed.... 12th Feb 17 at 9:56 AM
    £67,031.92. Seriously. £67,031.92. That is a SCARY number. I can't believe our debt has peaked (and it is the peak, I am determined) at this level.

    Our light bulb moment actually happened a few months back, but it's taken since then of wrangling utilities and carefully watching out income/outgoings (using You Need a Budget) to really figure out where we were overspending and how the monthly shortfall of anything from £200-£1,000+ was happening.

    We have literally nothing to show for this debt, it's just crept up over the past 8 years or so, and has always been at manageable levels, but back in October we realised we were spending more on credit cards each month than we were paying off.

    We committed that cardinal sin of taking out a consolidation loan, but alongside it we looked really carefully at our spending over the next couple of months, budgeted realistically for what we spend and have (I think) picked off all the easy 'low hanging fruit' of budget cuts and really identified why we were overspending.

    The main reason for the debt is, erm, me. Not that I'm the biggest spender (neither of us are amazing), but because I am self employed with a hugely variable income and basically worked out our budgets on the basis I would always earn my 'best' month's income. Which was, with hindsight, maybe a TINY bit deluded.

    The aim of this diary is to keep us on track with actually reducing our debt every single month, not doing it in a three steps forward, two (or four) steps back sort of way. Having sat down and put our numbers into the whatsthecost site, it appears that we are looking at 7 years and 1 month of repayments to clear the debt (and that's assuming we can get rid of the shortfall showing below). I REALLY want to reduce this term as that just seems bonkers.

    SOA below, with a couple of explanatory notes.

    Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 2
    Number of children in household......... 3
    Number of cars owned.................... 1

    Monthly Income Details

    Monthly income after tax................ 250 (variable, but this is the minimum I have earned in any month in the last 5 years)
    Partners monthly income after tax....... 2711.86
    Benefits................................ 192
    Other income............................ 0
    Total monthly income.................... 3153.86


    Monthly Expense Details

    Mortgage................................ 698
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 174 (including overpayment for a period when we messed up during a house move 18 months ago and didn't restart the direct debit for the new property. Will drop by a little under £50 after either March or April, can't remember which)
    Electricity............................. 52 (gas and electricity are one combined DD, I haven't checked the exact split but the total is £104)
    Gas..................................... 52
    Oil..................................... 0
    Water rates............................. 104 (also including a debt from previous property, but I think this will be included for another 6 months or so. I'm not sure what our actual usage is)
    Telephone (land line)................... 18.5 (includes internet)
    Mobile phone............................ 85 (£45 for my contract, which I use for work as well, £40 for DH)
    TV Licence.............................. 12.12
    Satellite/Cable TV...................... 0
    Internet Services....................... 0 (included in landline cost)
    Groceries etc. ......................... 520 (Includes £40 for one lot of school lunches. I am REALLY struggling to reduce this, but feel I could and should be able to!)
    Clothing................................ 100 (growing children, plus see notes below re clothes)
    Petrol/diesel........................... 225 (90% DH commuting costs)
    Road tax................................ 16.27
    Car Insurance........................... 25.22
    Car maintenance (including MOT)......... 30
    Car parking............................. 0
    Other travel............................ 50
    Childcare/nursery....................... 70 (this will disappear in April as child 3 gets free 15 hours)
    Other child related expenses............ 81.85 (music/swimming lessons x2, cubs and beavers, National Trust membership as they love visiting them)
    Medical (prescriptions, dentist etc).... 5
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 27.07
    Contents insurance...................... 0
    Life assurance ......................... 16.26
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 90
    Haircuts................................ 20
    Entertainment........................... 135
    Holiday................................. 75
    Emergency fund.......................... 25
    Total monthly expenses.................. 2707.29



    Assets

    Cash.................................... 0
    House value (Gross)..................... 210000
    Shares and bonds........................ 0
    Car(s).................................. 800
    Other assets............................ 0
    Total Assets............................ 210800



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 173733...(698)......3.14
    Total secured & HP debts...... 173733....-.........-


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Barclaycard....................6880.21...156...... .0
    MBNA...........................9614.71...98....... .0
    Parental loan..................20000.....0.........0 (see notes below)
    Tesco loan.....................21000.....377.......10
    Total unsecured debts..........57494.92..631.......-



    Monthly Budget Summary

    Total monthly income.................... 3,153.86
    Expenses (including HP & secured debts). 2,707.29
    Available for debt repayments........... 446.57
    Monthly UNsecured debt repayments....... 631
    Amount short for making debt repayments. -184.43


    Personal Balance Sheet Summary
    Total assets (things you own)........... 210,800
    Total HP & Secured debt................. -173,733
    Total Unsecured debt.................... -57,494.92
    Net Assets.............................. -20,427.92


    Created using the SOA calculator at stoozing.
    Reproduced on Moneysavingexpert with permission, using other browser.


    Regarding the (relatively) high clothes expense, it is a combination of 3 growing children (8, 6 and 3), plus the fact that my job is in the fashion industry, and as a self employed person I need to have the right sort of 'look' in order to get work (think along the lines of a self employed personal shopper - people need to see you looking good in order to book with you).

    The parental loan was for a house deposit. The parent in question has no idea about our debts. She is not desperate for the money back and isn't charging us interest, but has asked us to save £150-200 every month into a savings account and then once we've saved a decent sum to either repay them or 'reborrow' it for work on the house (basically they want us to be able to make repayments if they suddenly need the extra income, but meanwhile are happy for us to benefit from it. I am not saving the money while our debt payments are so high - we are hoping to have paid enough off that if the parent ever needs it that we can reborrow it and pay them back). This isn't great, but realistically I think the best solutions is to treat it as the lowest priority for snowballing - once we have paid back the other debts we will throw the entire £630+ at this debt.

    So, there is a freaking enormous shortfall every month, which is somewhat depressing. Most months it is covered by the fact that I earn more than my 'bare minimum', but it is those months where it isn't covered that the debt creeps up again, and I am a total disaster for going 'oh well, we've spent on the credit card, we might as well keep going' and buying more clothes or something for the house - this is probably a significant proportion of our debt problem.

    We have managed to get rid of the balance on the one credit card we were spending on, so the remaining ones are both on 0% deals (although one expires in September). I have not cut up the remaining credit card, because we don't have an emergency fund in case of eg boiler repairs, but it has not been used for all of a month, and I hope to keep it that way.

    A DMP or similar isn't really on my horizon right now - I feel like we should be able to make the cuts to make our budgets balance, and I am optimistic that as my income goes up (when I can work more as child 3 starts school) that we will be able to make overpayments.

    My plan for now is:
    1) Try to wiggle those budget numbers around enough that we don't have a shortfall any more.
    2) Make a plan for any months where I make extra - do I use it for an emergency fund, as a fund to cover future months' shortfalls, to throw money at the debt to try to reduce minimum payments in case of future 'shortfall' months?
    3) Try to make more money. Not quite sure how this will work as I am largely limited to working around DH's working hours (I work evenings and weekends and the 5hrs childcare per week we are paying for for child 3).

    Now that's all down in black and white I am feeling a combination of relieved (to be clear on the numbers) and immensely stressed (by the semi-regular £180+ shortfall).

    Onwards and downwards (for the debt, not me)!

    edited to add: the original £67,031.92 figure was based on the total figure for the Tesco loan, which included all interest payable over the entire term of the loan. I have updated the debt figure in my signature and in all posts going forward as at 4th June 2017 to reflect that actual current debt balance rather than the balance plus interest over the lifetime of the loan. This has knocked £7,911.62 off the debt figure, but means that each monthly payment will have the interest for that month deducted from it, so it won't affect the DFD if I don't make overpayments.
    Last edited by Treadingonplaymobil; 04-06-2017 at 2:58 PM.
Page 124
    • Treadingonplaymobil
    • By Treadingonplaymobil 9th Feb 18, 9:48 AM
    • 1,456 Posts
    • 14,224 Thanks
    Treadingonplaymobil
    Unexpected frugal wins already today:

    - baked a mincemeat cake in a fit of efficiency, so we have something to eat in the car for pudding/traffic jam emergencies.
    - similar vein - I knew the DCs would want a substantial snack after school, and was planning a quick supermarket trip for something, but remembered the savoury muffins I made for lunches and have in the freezer. Half term next week, so plenty of time to make more. Really good recipe, incidentally. I am properly impressed with how tasty they are. Plus some leftover fruit from the week, which wonít last until weíre back.
    - Taking a jar of marmalade, made the other day, as a gift for my step mother, instead of flowers. She isnít really a flowers person (and is very much a marmalade person), so this is a double win!

    Winner winner chicken dinner.
    £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/DFD: £58,608.13/Dec 2026
    debt on 6th Apr 2018: £34,168.99/Feb 2026

    Mortgage = c.£192,200
    • hannh
    • By hannh 9th Feb 18, 11:02 AM
    • 28 Posts
    • 119 Thanks
    hannh
    Long term lurker here! Just want to say thanks for all the veggie recipes and more environmentally friendly money saving tips you share! Those muffins look delicious and I will be trying them this weekend.
    I know you have just bought a lot of cleaning stuff but wondered if you'd heard of splosh for cleaning products? They send you eco-friendly concentrated cleaning products that you dilute yourself. We just used old method bottles we had at home to make it cheaper, but its better as obviously you are not getting a new plastic bottles each time.
    https://www.splosh.com/shop/splosh/open/getstarted/

    Keep up the amazing work on your journey.
    • Treadingonplaymobil
    • By Treadingonplaymobil 9th Feb 18, 6:33 PM
    • 1,456 Posts
    • 14,224 Thanks
    Treadingonplaymobil
    Long term lurker here! Just want to say thanks for all the veggie recipes and more environmentally friendly money saving tips you share! Those muffins look delicious and I will be trying them this weekend.
    I know you have just bought a lot of cleaning stuff but wondered if you'd heard of splosh for cleaning products? They send you eco-friendly concentrated cleaning products that you dilute yourself. We just used old method bottles we had at home to make it cheaper, but its better as obviously you are not getting a new plastic bottles each time.
    https://www.splosh.com/shop/splosh/open/getstarted/

    Keep up the amazing work on your journey.
    Originally posted by hannh
    Thank you so much! We do try to be fairly eco friendly while sticking to our budget - we used to buy all local/organic/more expensive eco options for various things, which was part of our financial problems, so now itís about trying to incorporate those ideas into a budget friendly life. Loving the look of Splosh, going to do the maths on that later.
    £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/DFD: £58,608.13/Dec 2026
    debt on 6th Apr 2018: £34,168.99/Feb 2026

    Mortgage = c.£192,200
    • Treadingonplaymobil
    • By Treadingonplaymobil 10th Feb 18, 8:23 AM
    • 1,456 Posts
    • 14,224 Thanks
    Treadingonplaymobil
    Week 52: Day 6


    Urghhhh what an evening yesterday. Horrendous drive up to my dadís with DH and the DCs. Got stuck in the backlog from an awful accident which was upsetting - some families had a much worse Friday than us .

    Hoping for a really quiet weekend, we have been clear that the DCs just need a weekend of walks and board games, nothing fancy, which seems to have gone down well, so hopefully it will be fairly MS too. We bought some chips and juice at a services yesterday, but had budgeted for it (the DCs favourite motorway services ).

    Savings/Spends:
    - £18.97/£28 February 'rounding down' overpayment pot
    - £1,046.80/£5,000 2018 debt repayment goal.

    To do today
    1. Sewing and knitting!

    To do this week
    1. More decluttering - particularly the lego! DONE DONE DONE.
    2. Finish planning any handmade gifts for birthdays/Christmas 2018 so I can ensure they are done well in advance. Done.
    3. Arrange a refund for a cancelled swimming lesson of DC2's. Done!

    To do in February
    1. Restart social media for my website, which has really been on the back burner so far this year. Making a start.
    2. Eat the contents of the freezer and defrost it. Ongoing, doesn't feel like we've made much of a dent yet!
    3. Play around with designs to discuss with the architect in early March.
    4. Have a laid back half term with the DC, doing activities at home, walks and crafts. Too many busy weeks recently.
    5. SLOW DOWN. This started well at the beginning of the year, but has fallen by the wayside. I have a couple of fractionally less busy weeks coming up, must make a real effort not to fill them with All The Things. This is going really well.
    £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/DFD: £58,608.13/Dec 2026
    debt on 6th Apr 2018: £34,168.99/Feb 2026

    Mortgage = c.£192,200
    • Suffolk lass
    • By Suffolk lass 10th Feb 18, 10:09 AM
    • 1,897 Posts
    • 20,104 Thanks
    Suffolk lass
    Have a great weekend TOPM. We are off to a party and staying overnight tonight - DH's old school friend up from Devon. I wish we were just walking and playing board games instead, to be honest...

    Loving the look of splosh
    MFiT T4 #2 update 51.75% after Q8 £5,203 behind where I should be
    Save £12k in 2018 #53 - after Feb 13.3%/£10,000
    OS Grocery Challenge 2018 spent £452.64/£3,000 including stores so far
    My DFD is here
    • XSpender
    • By XSpender 10th Feb 18, 10:12 AM
    • 2,925 Posts
    • 30,045 Thanks
    XSpender
    Enjoy your lovely, relaxing weekend. Olympics and rugby for us today

    My freezer is not going down very quickly either!
    Action Plan Part 1 - Clear First 3 Balances
    Target Debt Lloyds (Me) Part 1 £666.22/£0
    Target Debt Virgin (Me) Part 1 £1176.49/£599.42
    Target Debt Virgin (Me) Part 2 £1038/£1038
    Big black hole of debt - £53,515.15 @ 16.12.17 £52,811.64 @ 28.02.18, £50,638.77 @ 28.03.18,
    • Purplemumof2
    • By Purplemumof2 10th Feb 18, 10:14 AM
    • 6,003 Posts
    • 21,928 Thanks
    Purplemumof2
    Have a lovely weekend xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £6500.00 Cap 1: £437.20 BC: £6747.97
    AFD xxx LTW 3/16
    POAMAYC 2018 #041 PD £3790.84/£7000
    Savings for Christmas £131.00/£365
    20p Savers 2018 £2 Savers 2018 50p Savers 2018 SPC 11 2018 #003
    • enthusiasticsaver
    • By enthusiasticsaver 10th Feb 18, 11:24 AM
    • 6,255 Posts
    • 12,384 Thanks
    enthusiasticsaver
    There was an awful accident on the M5 yesterday at somerset so hopefully that was not the traffic backlog you got caught in. At least you got there safely. Hope you have a nice weekend with your Dad.
    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
    • Cherryfudge
    • By Cherryfudge 10th Feb 18, 12:30 PM
    • 1,609 Posts
    • 8,502 Thanks
    Cherryfudge
    I do like the look of your list for today!
    • Treadingonplaymobil
    • By Treadingonplaymobil 11th Feb 18, 7:59 AM
    • 1,456 Posts
    • 14,224 Thanks
    Treadingonplaymobil
    Limbo day

    Well due to a year not fitting neatly into 52 weeks, I have a limbo day before I can officially declare I am into year two of debt busting as I started this diary on 12th February, not 11th. So talk amongst yourselves until tomorrow.

    Had a lovely day yesterday, finished knitting a birthday pair of socks for my dad. Onto a baby cardigan today for a soon to be born new relative. I have so much yarn in my stash that i!!!8217;m choosing patterns to match the yarn I have to try to use it up, so everything I can knit from stash is sort of free (no spend right now, as it was bought pre-LBM).

    YNAB payment came out on Friday and we didn!!!8217;t have enough money saved for it because of failing to get our monthly budget pots working until this month, but i!!!8217;ve borrowed from our entertainment kitty rather than other monthly savings pots, as I really want to keep those pots building up and not get into that robbing-peter situation with them.

    Savings/Spends:
    - £19.58/£28 February 'rounding down' overpayment pot
    - £1,046.80/£5,000 2018 debt repayment goal.

    To do today
    1. Even more sewing and knitting!
    2. Figure out how much debt i!!!8217;ve repaid since starting this diary.
    3. Clear work emails.
    4. Social media post.
    5. Go through who I!!!8217;m following on social media for work and make sure it!!!8217;s relevant to my business so I!!!8217;m not wasting time following irrelevant people.

    To do this week
    TBC once we!!!8217;re home, not going to think about it till then.

    To do in February
    1. Restart social media for my website, which has really been on the back burner so far this year. Making a start.
    2. Eat the contents of the freezer and defrost it. Ongoing, doesn't feel like we've made much of a dent yet!
    3. Play around with designs to discuss with the architect in early March.
    4. Have a laid back half term with the DC, doing activities at home, walks and crafts. Too many busy weeks recently. Going well so far.
    5. SLOW DOWN. This started well at the beginning of the year, but has fallen by the wayside. I have a couple of fractionally less busy weeks coming up, must make a real effort not to fill them with All The Things. This is going really well.
    £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/DFD: £58,608.13/Dec 2026
    debt on 6th Apr 2018: £34,168.99/Feb 2026

    Mortgage = c.£192,200
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Feb 18, 8:30 AM
    • 1,456 Posts
    • 14,224 Thanks
    Treadingonplaymobil
    YEAR 2: Week 1: Day 1

    ONE WHOLE YEAR. Well that!!!8217;s rather impressive.

    Apologies in advance if you are seeing this with the terrible formatting making all apostrophes annoying. It seems to happen when I edit a post, but not sure if it!!!8217;s just me seeing them or you as well.

    Debt reduction
    It!!!8217;s really hard to do a straightforward round up of how much we!!!8217;ve paid off as our debt has been jiggled and juggled over the past twelve months to reduce our outgoings without getting into DMP territory.

    The short version is that we started out with a debt of over £67k last February. We paid some off, we moved some onto our mortgage, we accrued a little more thanks to some bad decisions, and our position as we head into year two is

    Mortgage £192,752 (we added a little under £20k of our consumer debt onto this to reduce monthly outgoings by £300+)
    Parental loan £20,000
    Barclaycard £12,065
    Partnership card £2,791

    We!!!8217;ve actually paid off a net of c.£4K over the past 12 months, even though our consumer debt is dramatically reduced thanks to adding to our mortgage. Our priority has always been to preserve our credit rating, knowing that we will need to borrow at some stage to finance an extension, so this made more sense than any DMP options, hence the remortgage.

    The next 12 months
    The hope is that at the end of our next year of debt repayment we will be in a position to make a start on the much needed extension to our tiny house. As such our priorities this year are twofold - to keep paying down the debt as determinedly as possible while saving enough towards to extension to cover ongoing costs like the architect, planning and structural engineer!!!8217;s fees. The bridge of borrowing to actually build the thing will be crossed once we have a design and start getting quotes in, although our architect knows that the spec will have to be for something not too elaborate, as cost is a key factor.

    I would like us to pay off £5k in 2018 (see my tracker below, we have paid off just over £1k so far), and preferably another £1k or so in the first month or two of 2019, so our debt will be reduced by around £6k at the point we start building.

    We are absolutely focused on becoming debt free (I know the extension makes it appear that we aren!!!8217;t, but having weighed up the moving/making do options, this is the best one for us and our children). Our primary goal once the challenge of funding the extension is met will be to asses our new debt free date and bringing that date ever further forward through overpayments one way or another, as we currently have woeful mortgage clearing/retirement plans and will need to think about that within the next decade too (DH and I are both mid thirties). That all seems a bit impossibly far off at the moment though.

    Income
    DH!!!8217;s income is (assuming no illness or redundancy) totally stable and static, whereas my self employed income is much more erratic. I am trying to smooth the bumps in my income by saving a few months ahead in my business account for my !!!8216;salary!!!8217;, and I am hoping that over the year as this establishes further than I will be able to overpay slightly on the debt, but I don!!!8217;t want to rely on this, hence the somewhat unambiguous debt repayment schedule for now.

    My diary this year
    I have been contemplating restructuring the way I write my diary. I!!!8217;m not sure whether my daily lists are of any interest to anyone here, now that they tend to be more about my daily life than MSE stuff. Although the two are kind of inextricably linked these days - menu plans, daily work etc. I know some bits of it help to keep me on track (noting food shopping and menu planning etc) and I quite like sharing the rest. Any thoughts? What do you lot find helps keep you on track in your own diary? What do you like reading here or in other diaries? Maybe a daily MSE list, and only checking in with weekly and monthly lists once a week.
    Last edited by Treadingonplaymobil; 12-02-2018 at 8:37 AM.
    £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/DFD: £58,608.13/Dec 2026
    debt on 6th Apr 2018: £34,168.99/Feb 2026

    Mortgage = c.£192,200
    • Honeysucklelou2
    • By Honeysucklelou2 12th Feb 18, 8:38 AM
    • 784 Posts
    • 3,139 Thanks
    Honeysucklelou2
    I think your diary has been very helpful to many readers. The menu plans and cooking ideas are useful as are your daily lists as it shows how becoming MS has impacted across various aspects of your life.
    paydbx #93 £642/£8,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3123 in Jan 18
    • Cumbria lass
    • By Cumbria lass 12th Feb 18, 8:45 AM
    • 1,664 Posts
    • 9,788 Thanks
    Cumbria lass
    The problem with apostrophes is with ios11 . To sort go to settings , tap general, then tap keyboards and toggle smart punctuation to off. That sorts it out .
    CC1 £3655 April 2018.
    • Blackberrycurved
    • By Blackberrycurved 12th Feb 18, 8:45 AM
    • 89 Posts
    • 627 Thanks
    Blackberrycurved
    That!!!8217;s a huge debt I!!!8217;d think very hard about borrowing more for an extension much as you need it. When Brexit hits and it will, interest rates will be high and wages will need to be cut as we!!!8217;ll struggle to compete outside the European monetary system. It will be a very different UK look at Southern Ireland!!!8217;s economy you may need to pay back your parental loan as the rapid rise in food and petrol costs may hit them hard. Good luck you sound organised but see how things play out 2019 before you borrow more maybe.
    Blackberry Curved debt free 2018 Number 17 £964.77/£11,000
    Save for Christmas Number 19 £90 /£365
    1% challenge Number 7 £70/£110
    • Cumbria lass
    • By Cumbria lass 12th Feb 18, 8:54 AM
    • 1,664 Posts
    • 9,788 Thanks
    Cumbria lass
    Blackberry curve may have a point but I tend to live in the here and now. Interest rates are set to rise but I think you have fixed yours haven't you for the next couple of years. The impact could be felt next time you need to remortgage. Brexit is a unknown quantity and until it finally happens predictions are all we can go off,

    My diary this past 6 weeks or so has been about illness , your daily lists are great and it is your diary. I think you have done very well so far . Everybody attacks the debt in different ways , if it's right for you then that's ok. The journey for me is more about your mindset towards money wants and needs etc. This has changed from 12 months ago and will continue to do so as long as you stay on the right path.

    Happy 1 year anniversary TOPM.
    CC1 £3655 April 2018.
    • warby68
    • By warby68 12th Feb 18, 9:31 AM
    • 928 Posts
    • 9,521 Thanks
    warby68
    Happy Anniversary

    £4k is great and is quite understated as you also stopped the runaway debt train, so probably more like £9-10k of overall improvement.

    How you run your diary is about what works for you - I read your comments, your lists less so but only because they don't really apply to me but its extremely easy to read as you write so well. Even though it probably doesn't seem like it, I do identify a lot with your thought processes so I love the posts where you first of all defend a decision and then think it through for all to see and end up with some compromise.

    I know you NEED space but financing either an extension or a move looks very much a bridge too far as yet to me unless you change your mind and get a job to create an income step change or undertake a much more draconian period of frugality, but I am of course dying to know whether you make it (and hope very much that you do).

    There is one area that nags away for me and that is your car - I think you've said before that its relatively aged and you can't manage without one. That looks a threat that very probably could kick in within the same timeframe as the extension. Do you have any thoughts there?

    The other thing is the 'secrecy' you maintain in real life. I wonder if confiding in a relative might be useful to you in terms of having some real life support. Keeping up appearances is a pressure in itself. I suspect they know more than you let on anyway. I know you've been adamant on this so far but when you're down about money its hard not being able to be open. I have had a miserable 'secret' to maintain before now - its hard work. I never did master opening up about it and eventually things moved on but I know now how much pressure I put myself under.

    Long post, sorry, but its a big day

    Good luck with it all.
    • Sugarcandy
    • By Sugarcandy 12th Feb 18, 10:31 AM
    • 380 Posts
    • 766 Thanks
    Sugarcandy
    Hi, I am subscribed to your diary and although I don't comment, I just want to say I love the format you use, and I find all the lists very helpful for myself and started to do my own lists for the week ahead. Obviously though it is what is easiest for you.
    • kirtsypoos
    • By kirtsypoos 12th Feb 18, 10:44 AM
    • 3,423 Posts
    • 14,962 Thanks
    kirtsypoos
    Happy Anniversary TOPM - I'm mostly just a lurker on your diary but I feel like over the past year I have laughed and cried with you about decisions you've made or things you've talked yourself out of buying!

    Keep up the good work - you are managing brilliantly without sacrificing the key things for your family
    PAID VERY, Barclaycard x3, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Original Debt: £0/31010.23 (100% paid)
    Mortgage - £158.500.00 (2017/2018 O/P £3491.79) PAYDBX 17 - £18,442.82
    PAYDBX 18 #006 £3850.92/£4000
    • XSpender
    • By XSpender 12th Feb 18, 12:16 PM
    • 2,925 Posts
    • 30,045 Thanks
    XSpender
    Happy Anniversary!

    £4,000 is a lot to pay off on a tight budget so well done to you and Mr TOPM.

    If lists work for you keep using them, it's your diary and we will still be here reading along. Sometimes I do lists and sometimes I just brain dump
    Action Plan Part 1 - Clear First 3 Balances
    Target Debt Lloyds (Me) Part 1 £666.22/£0
    Target Debt Virgin (Me) Part 1 £1176.49/£599.42
    Target Debt Virgin (Me) Part 2 £1038/£1038
    Big black hole of debt - £53,515.15 @ 16.12.17 £52,811.64 @ 28.02.18, £50,638.77 @ 28.03.18,
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Feb 18, 12:30 PM
    • 1,456 Posts
    • 14,224 Thanks
    Treadingonplaymobil
    Thanks for all the good wishes, it's so lovely to have you all along for the ride. I really don't for a minute think we would have managed to turn this tanker/empty the first ladleful out of our lake/insert metaphor of choice here without you all cheering me on and keeping me on the straight and narrow.
    £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/DFD: £58,608.13/Dec 2026
    debt on 6th Apr 2018: £34,168.99/Feb 2026

    Mortgage = c.£192,200
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