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  • FIRST POST
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Feb 17, 9:56 AM
    • 1,602Posts
    • 16,387Thanks
    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 134
    • Cherryfudge
    • By Cherryfudge 3rd Mar 18, 1:53 PM
    • 1,761 Posts
    • 9,635 Thanks
    Cherryfudge
    In other news, all this snow has made me very aware of our food intake and how to do it on a budget! We needed a food shop on Thursday, so have had to get food from town. We've only been able to walk to shops, not drive, and have been limited to (mostly local and/or organic) produce from the nearest shops. Have had to be somewhat creative to get enough food at a sensible budget. We've spent £56 in total so far, and I'm hoping that will get us through until Tuesday (which equates to around the same as my usual weekly shop if you scale it up to a full week) but it's been really interesting to see how our food choices have had to change - basically veg, a small amount of fruit and flour, milk and eggs. You can make an awful lot with that at your disposal, it turns out! Carrot and chickpea pittas for dinner tonight with savoury parmesan herb popcorn and hot chocolate for pudding.
    Originally posted by Treadingonplaymobil
    I'd been thinking about this too - I've not been to the shops for some days despite being able to if necessary, and as a consequence have been eating a little more boringly but much more cheaply. There is a little more room in the freezer and cupboards as I make an effort to see what we have in (not usually my strong point) and more baked stuff in the house, which is an indulgence as I can't normally cope with the calories. I think I will be spending more this afternoon though as we're going to an out of town shopping place with a big supermarket and those things I would normally have topped up on because we are getting low (fruit, margarine and sugar) will get bought.

    I like the sound of the savoury popcorn, off to look up a recipe!
    MFW #30 Paid off £1,622.77/£3770 as of 4/5/18
    • enthusiasticsaver
    • By enthusiasticsaver 3rd Mar 18, 2:54 PM
    • 6,612 Posts
    • 13,910 Thanks
    enthusiasticsaver
    I would have to agree about the food shopping being lower when the ability to get out and about is hindered. We have eaten with less variety but no top up shop this week apart from milk and bread. We stuck completely to meal plan and instead of getting fresh veg resorted to frozen midweek which meant less variety but cheaper. When we ran out of snacks they were not replenished which was great both diet and budget wise.
    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 3rd Mar 18, 3:01 PM
    • 6,612 Posts
    • 13,910 Thanks
    enthusiasticsaver
    I would think the architect probably could fit a bathroom upstairs but to find out the cost of doing this a builder would be the person to ask. If you already have 2 bathrooms downstairs it would definitely be more cost efficient to keep them there. Some people don't like that though so when you come to sell that may be an issue. If you don't intend selling any time soon though you only have to do what works for you.

    We only ever had a large family bathroom upstairs and a downstairs toilet being a modern house. We have a massive kitchen diner which we love though so when we could have done with an additional bathroom we looked at moving and compromised on putting sink/vanity units in both our DDs bedrooms as all the 2 bathroom houses we looked at had smaller kitchens. It is always a trade off.
    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
    • Honeybug
    • By Honeybug 3rd Mar 18, 6:06 PM
    • 20 Posts
    • 184 Thanks
    Honeybug
    This snow has made me realise how much food we eat, me, DH, DS1 and DS2. Both DS1 and 2 are big teenagers so its like feeding 4 adults really. Half batch of twinks hobnobs gone and a batch of jam puffs as well as three meals yesterday. Staggering. I love the sound of tonights meal TOPM but not sure I would get away with it! We are an average size family, I just dont know where they put it all
    • Treadingonplaymobil
    • By Treadingonplaymobil 4th Mar 18, 4:59 AM
    • 1,602 Posts
    • 16,387 Thanks
    Treadingonplaymobil
    Week 55: Day 7

    edited to add: this post is very disjointed, a brain dump of what's on my mind this morning!

    Phew, looks like my clients will make it this morning - didn't want to have to rearrange again, or give a refund!

    I am completely in denial about feeding during the teenage years. A meal like we made yesterday would scale up fairly easily and cheaply, but the idea of whole loaves of bread and pots of jam disappearing at the drop of a hat slightly alarms me. I was chatting to someone the other day who casually mentioned that they spend £400 a week when their three teens are at home (although I suspect their average weekly shop for just two of them is close to a couple of hundred quid - proper foodies).

    We aren't planning on selling the house, so the relative weirdness of the bathroom situation doesn't bother me - it's solely about what works for us. To be honest turning a house this small into a 4 bed is bonkers for most people anyway - we love the whole tiny house thing, and are quite happy with it, but it's not something most people would go for!

    I was able to get to Morrisons yesterday and was totally appalled by how plastic-wrapped everything was. More or less impossible to get any loose fruit or veg, apart from apples (although they had sold out because of no deliveries), onions, potatoes etc. I'm feeling so hyper aware of plastic consumption recently, and really struggling to align that with our super tight budget. I've actually been really pleased with the veg offerings I got from the smaller grocer in town last week (haven't been to the big one I recently discovered yet), I might set myself a mission to get as much plastic-free from the supermarket as possible, and top up from the grocers - it would help me in my attempts to get out for a daily quick walk too, as one is about 10 mins walk away and the other 15-20 mins walk. No idea whether it's going to work, but might see how it pans out - have managed to stick to budget so far this week, and that's with buying everything from the pricey shops in town.

    If anyone else has a sourdough starter on the go, as well as the sourdough cracker recipe I found the other day I am also thinking of trying these sourdough waffles next weekend (don't have enough discarded starter yet, as I have always chucked the tiny bit of excess I make away). The same blogger also has recipes for soft sourdough pretzels and sourdough pancakes. Sourdough-tastic! If anyone hasn't got a sourdough starter and is thinking of it, I really can't recommend it highly enough - it's great to know that as long as I have flour and salt in the house that I can make really good bread as often as we need it. I tend to cook it in batches of four smallish loaves (about the size of a trendy sound sourdough loaf that costs £3 from Waitrose) and freeze some or all of them.

    DH managed to get the car back yesterday, although had to dig it out a big as the snow had drifted up around it and it wasn't melting, but it was fine to drive home as the roads were so clear. Heavy rain overnight so it's all rapidly going now.

    Today's meal plan is
    breakfast: waffles
    am snack: oatmeal and raisin cookies (best recipe ever) for me and my clients, fruit and leftover cookies for the children and DH (poor things).
    lunch: leek and potato soup for me and my clients, green quiche (which I must take out of the freezer) houmous made with leftover chickpeas and veg sticks for DH and the DC.
    pm snack: toast and jam
    dinner: veg stir fry using up all the leftover veg and egg fried rice

    Yesterday's list
    1. Food shopping list to get us through until Monday/Tuesday - I have a menu plan done, just need to write the shopping list.
    2. Food shopping.
    3. Clear emails.


    Three things to do today
    1. Finish cleaning for clients.
    2. Get a last minute piece of contract work done (I am so not going to feel like doing that after seeing clients, but needs must).
    3. Plan the week ahead - got so little done last week thanks to snow days, so need to knuckle down this week.

    Debt repayment:
    - £5.19/31 March rounding down pot
    - £1,250.93/£5,000 2018 debt repayment goal.
    £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
    • Sea Shell
    • By Sea Shell 4th Mar 18, 7:46 AM
    • 786 Posts
    • 1,065 Thanks
    Sea Shell
    You say you're not planning on moving, and you've admitted you have a "Tiny House". How's that going to work, once you effectively have 5 Adults living in it. Realistically, how sustainable is it for the future??

    I can't recall how old your 3 DC's are currently, but they are no doubt all growing fast!!, before you know it, they'll all be "grown up", and wanting to hog the bathroom(s) to get ready. Boys, just as much as the girls (if not worse - ha!!)
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow "
    • Honeysucklelou2
    • By Honeysucklelou2 4th Mar 18, 8:46 AM
    • 886 Posts
    • 3,579 Thanks
    Honeysucklelou2
    Re teenagers and food...I will have 5 teenagers by July this year and there is no way I spend anywhere near £400 a week in food. I wouldn't be able to! The boys do eat noticeably more once they got to about 12. DS1 tends to eat lots of eggs and now that he knows how to cook them himself will happily eat 4 in a sitting. DS2 will fill up, beyond meals, on cereal. I do tend to cook lots of homemade cakes etc that they do finish quickly but so far it is manageable and I try to stick to a £100 a week budget. Sometimes it is more but usually if it includes a special occasion. Don't be alarmed by £400 a week...it's doable on less!
    paydbx #93 £692/£8,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3123 in Jan 18
    • Honeybug
    • By Honeybug 4th Mar 18, 9:04 AM
    • 20 Posts
    • 184 Thanks
    Honeybug
    I agree with Honeysuckle, £400 is alot. We manage on £80 per week including household stuff but not toiletries, which I get elsewhere. But......DS1 & 2 also get around £10-£12 each per week to spend on lunches so around £100 per week all in. DH and I make our lunches. I know it would be cheaper for them to take food from home, but working full time it is one of those things I am happy to pay for.
    • Honeybug
    • By Honeybug 4th Mar 18, 9:11 AM
    • 20 Posts
    • 184 Thanks
    Honeybug
    And yes, I find boxes of cereal, milk and eggs to also be the stable diet of teenage boys!!
    • Sea Shell
    • By Sea Shell 4th Mar 18, 9:49 AM
    • 786 Posts
    • 1,065 Thanks
    Sea Shell
    Not to mention the need for extra toiletries as they get older too.
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow "
    • Honeysucklelou2
    • By Honeysucklelou2 4th Mar 18, 10:06 AM
    • 886 Posts
    • 3,579 Thanks
    Honeysucklelou2
    My friend used to keep a stash of mini pizzas in her freezer so that her teenage sons could help themselves when feeling peckish!
    paydbx #93 £692/£8,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3123 in Jan 18
    • Treadingonplaymobil
    • By Treadingonplaymobil 4th Mar 18, 10:22 AM
    • 1,602 Posts
    • 16,387 Thanks
    Treadingonplaymobil
    Good to know that £400 a week isn't the default setting for teenagers! I used to make a lot of scrambled eggs and baked snacks as a teen - my mother never had things like cereal, crisps, microwave food in the house (can you tell where I get it from? ) but always had 'ingredients' and I'd like to think I'll do the same. We'll see how it pans out though.

    You say you're not planning on moving, and you've admitted you have a "Tiny House". How's that going to work, once you effectively have 5 Adults living in it. Realistically, how sustainable is it for the future??

    I can't recall how old your 3 DC's are currently, but they are no doubt all growing fast!!, before you know it, they'll all be "grown up", and wanting to hog the bathroom(s) to get ready. Boys, just as much as the girls (if not worse - ha!!)
    Originally posted by Sea Shell
    Tiny house is a bit of an exaggeration to be honest, but we take lots of inspiration from the tiny house 'movement' in terms of using the space. I think the house will be perfectly sustainable in size terms, once everyone has a space, albeit a small one, of their own. I think having a well designed and thought through space and sufficient privacy, and the financial means to have adventures outside of the house as well as in it is more important for us than sheer square footage. The bedrooms will be small but the living space will be fairly generous (kitchen/diner and separate sitting room), and according to a swift google, the extended house will be slightly over the size of the average new build 3 bed house - it'll be a little under 1,000 sq ft I think. plus our garden is around 80 feet long and we're hoping to build a little office pod at the end too, so another space to negotiate over as they grow up.
    £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
    • DawnW
    • By DawnW 4th Mar 18, 2:56 PM
    • 5,056 Posts
    • 39,919 Thanks
    DawnW
    Good to know that £400 a week isn't the default setting for teenagers! I used to make a lot of scrambled eggs and baked snacks as a teen - my mother never had things like cereal, crisps, microwave food in the house (can you tell where I get it from? ) but always had 'ingredients' and I'd like to think I'll do the same. We'll see how it pans out though.


    Tiny house is a bit of an exaggeration to be honest, but we take lots of inspiration from the tiny house 'movement' in terms of using the space. I think the house will be perfectly sustainable in size terms, once everyone has a space, albeit a small one, of their own. I think having a well designed and thought through space and sufficient privacy, and the financial means to have adventures outside of the house as well as in it is more important for us than sheer square footage. The bedrooms will be small but the living space will be fairly generous (kitchen/diner and separate sitting room), and according to a swift google, the extended house will be slightly over the size of the average new build 3 bed house - it'll be a little under 1,000 sq ft I think. plus our garden is around 80 feet long and we're hoping to build a little office pod at the end too, so another space to negotiate over as they grow up.
    Originally posted by Treadingonplaymobil
    Many larger families are / have been brought up in smaller spaces TOPM - there is no reason at all why you won't manage just fine
    NSDs for June 10 / 10
    Groceries / cleaning / toiletries / pet food etc £227.30 / £250
    Fuel 99.95 / £100


    • fraserbooks
    • By fraserbooks 4th Mar 18, 7:17 PM
    • 316 Posts
    • 5,599 Thanks
    fraserbooks
    I had five children in eight years including four boys. I used to think it was like living with a swarm of locusts as I would open the fridge and find it empty. Boys do take a long time in the bathroom when they start to shave. You do need to have room to store several sets of sports kit.. Children also need somewhere quiet to do their homework. Do you have room for a loft conversion later on?
    • Treadingonplaymobil
    • By Treadingonplaymobil 4th Mar 18, 8:03 PM
    • 1,602 Posts
    • 16,387 Thanks
    Treadingonplaymobil
    No room for a loft conversion later on - we live in a dormer bungalow and we're already using it!

    Honestly, I'm really not anxious about managing the space once we have the extension. I think we need that extra, but I don't think we need more. Obviously I am fully prepared to eat my words in a few years' time, but I think we just adapt to what we have. This house works better for us than our previous, much bigger, rented house, because the layout is better and the location is nicer, so it's easy to get out to do things.

    I have been counting down to some childfree time tomorrow and am slightly horrified that DC2 appears to have a cough and a sore throat. I will be underwhelmed if my time of solitude is interrupted by illness, after a 4.5 day weekend thanks to the snow!

    Ooh, got paid an unexpected £50 for some extra work today, so assuming my invoices get paid soon for February's work I will be back up to three months' expenses and salary in my business account and I will have £40 to drop into the birthdays budget pot to go towards DC2 and 3's birthdays this month. Hurrah!

    Three things to do today
    1. Finish cleaning for clients.
    2. Get a last minute piece of contract work done (I am so not going to feel like doing that after seeing clients, but needs must).
    3. Plan the week ahead - got so little done last week thanks to snow days, so need to knuckle down this week.


    Debt repayment:
    - £5.80/31 March rounding down pot
    - £1,250.93/£5,000 2018 debt repayment goal.
    £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
    • Treadingonplaymobil
    • By Treadingonplaymobil 5th Mar 18, 5:53 AM
    • 1,602 Posts
    • 16,387 Thanks
    Treadingonplaymobil
    Week 56: Day 1

    Morning! Another week. Let's keep fingers crossed all my children manage to go to school this morning and I get some peace and quiet. Just in case, I am trying to enjoy the quiet right now before they wake up, even if I am about to spend most of the time ironing.

    Am also keeping fingers crossed that I get paid today for some of February's work - snow days meant my invoices won't have even been seen yet, annoyingly. I know I'll get the money eventually, I just want it in my bank account right now!

    Three things to do today
    1. Clear the ironing mountain (apparently in my head 'snow day' equates to 'no ironing day').
    2. Send a couple of work emails that need doing.
    3. Top up food shop from town.

    Debt repayment:
    - £5.80/31 March rounding down pot
    - £1,250.93/£5,000 2018 debt repayment goal.
    Last edited by Treadingonplaymobil; 05-03-2018 at 8:25 PM.
    £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
    • groovychick69
    • By groovychick69 5th Mar 18, 8:45 AM
    • 162 Posts
    • 280 Thanks
    groovychick69
    You are doing so well topm, Iím also putting off the ironing! Re your debt goal of £5000 I notice you are well on your way to this. You could maybe even double it! Is this just overpayments or does it include your usual minimum payment?
    • joeyjimbles
    • By joeyjimbles 5th Mar 18, 10:50 AM
    • 1,587 Posts
    • 8,639 Thanks
    joeyjimbles
    OK, OK, all this talk of ironing is clearly the universe telling me to just get on with it - I'll go and do it now (sulk sulk).
    • PositiveBalance
    • By PositiveBalance 5th Mar 18, 12:03 PM
    • 755 Posts
    • 3,794 Thanks
    PositiveBalance
    OK, OK, all this talk of ironing is clearly the universe telling me to just get on with it - I'll go and do it now (sulk sulk).
    Originally posted by joeyjimbles
    I've got a few bits that need doing as well while you are at it.

    *Hands over small pile*

    Thanks! You're a star!
    Original debt to source: £11,640.02; debt repaid: £6201.01 (53%); remaining debt: £5439.01
    0% CC balance: £4999.67 now £
    3326.64 (£381.64 on existing card: £2945.00 BTed)
    Emergency Fund (#187): £0/£500
    Terrimundi: fleeced!
    • Treadingonplaymobil
    • By Treadingonplaymobil 5th Mar 18, 8:44 PM
    • 1,602 Posts
    • 16,387 Thanks
    Treadingonplaymobil
    groovychick59 the debt repayment goal includes minimums, which I think come to around £4,000 for the year, so my ambitions aren't all that impressive really! But I would be thrilled to pay back more than £5,000 this year if we can.

    Got paid for one lot of invoicing today, so am back up to three months' expenses and salary in my business account (which now has a whopping £2,700 in it, which seems incredible compared to a year ago) and I was able to transfer over an extra bit of money for the birthday pot. Which is still only up to £145 which isn't nearly enough, but it's better than nothing, and I should get paid for another bit of work in the next week or so.

    Knackered and trying fake an interest in something DH is telling me about work, so probably better go...

    Three things to do today
    1. Clear the ironing mountain (apparently in my head 'snow day' equates to 'no ironing day').
    2. Send a couple of work emails that need doing.
    3. Top up food shop from town.


    Debt repayment:
    - £16.08/31 March rounding down pot (extra £10 sent over to this pot from my business account).
    - £1,250.93/£5,000 2018 debt repayment goal.
    £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
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