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  • FIRST POST
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Feb 17, 9:56 AM
    • 1,694Posts
    • 17,489Thanks
    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 148
    • apple muncher
    • By apple muncher 7th Apr 18, 9:01 PM
    • 7,682 Posts
    • 57,971 Thanks
    apple muncher
    If you are able to completely eliminate all gluten from her diet (as well as all risks of cross-contamination like breadboards, toasters, crumbs in spreads)then you may see an 'improvement' within 2 weeks. We did for dd once she was diagnosed - the difference in her energy and coping levels was amazing. Good luck!
    NST September Sunshine #4; NSD 8/21; Ex 8/21 ; craft 7 (121); remove 32 (621)
    2018 Pay off: 3437; 2
    018 sell 49.10; WLOSW 1/10

    Mortgage 19,614 (01/14: 78,201; 01/15: 59,629; 01/16: 39,915; 01/17: 27,295; 01/18 23,143) MFWDate Dec 2018
    • Treadingonplaymobil
    • By Treadingonplaymobil 8th Apr 18, 6:53 AM
    • 1,694 Posts
    • 17,489 Thanks
    Treadingonplaymobil
    Week 60: Day 7

    Had a lovely time at the zoo yesterday, and there's still plenty of stuff left to do there that we didn't even get to yesterday. I think we'll find it great for a year.

    Off to visit a very good friend and her new baby today. Have bought presents for the friend and little presents for her older children, and knitted a cardigan for the baby, so it's fairly expensive/time consuming outing, all things considered, but I only have perhaps one or two friends or family who I would make that much effort with. so it's a pretty rare event.

    No further bookings or enquiries over the past couple of days, so no interesting divvying up of money/debt repayment going on. Although did pay another 2.06 to the barclaycard - am trying to make a payment every time my rounding down pot goes above 1, to prevent me being tempted to absorb the money back into the budget.

    Made a yummy white chocolate and raspberry loaf cake yesterday - I bought and didn't use white chocolate for DC3's party the other week, and it's not something we'd eat for fun (too sickly) but it was perfect in a cake with frozen raspberries.

    Ooh, and DH's going sim-only appears to have reduced our phone bill by 31, which is about a tenner more than I thought it would - I thought my contract was higher and his was lower (joint bill), but I'm not complaining! I haven't divided up this extra according to my fancy formula, just stuck it into the entertainment kitty, as we didn't have any extra for entertainment during the easter holidays and have been fractionally over budget so far.

    To do today
    1. pack snacks for journey to friend's.
    2. pack up faulty shirt to return tomorrow.
    3. plan next week's work.
    4. finish additional bit of contract work.
    5. help DC1 make progress on his homework and DC2 make a start on any he has (will probably have to outsource this to DH).
    6. Make kitchari for dinner.

    Debt repayment:
    - 20.80/30 April rounding down pot.
    - 1,914.58/5,000 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 1st Sept 2018: 12,221.27 unsecured debt/19,940 parental loan/191,003.72 mortgage = 223,165
    • dawnybabes
    • By dawnybabes 8th Apr 18, 9:44 AM
    • 1,581 Posts
    • 3,865 Thanks
    dawnybabes
    The worry about taking gluten outbthen re introducing it could make the symptoms worse (my son is coeliac). Best thing you could do is start keeping a food diary of everything she eats then writing down issues / symptons then taking it with you to the doctor.

    Watch the packets as even May contains could be upsetting her.

    The long term issues are bad if you don!!!8217;t take it seriously so best to find out.
    Sealed pot challenge 822

    Jan - 176.66
    • Treadingonplaymobil
    • By Treadingonplaymobil 8th Apr 18, 8:01 PM
    • 1,694 Posts
    • 17,489 Thanks
    Treadingonplaymobil
    Lovely to see friend and happily settled newborn baby today. Pleased to report sub-zero levels of broodiness though. Which is good, as I'd need to find a new husband if I wanted to have any more - DH has had the snip.

    I took DC1 with me and he had a good idea for a small MS and eco saving while we were chatting in the care - now that we get most fruit and veg locally, we could do a 2 week menu plan at a time and just do a supermarket shop fortnightly rather than weekly, freeing up an evening for DH or I once a fortnight (one of us tends to go on a Friday evening at the moment, to get it out the way), saving the fuel/emissions in driving 8 miles to the supermarket, and possibly saving a little money too, as I've generally found that when I'm not near a shop I can live without whatever it is that I need next time I go into a supermarket . We freeze milk and make bread, so that's easy to manage, it's just a question of planning things like baking ingredients and tins sufficiently to have enough to last a fortnight. I think we'll experiment with it at least.

    Had to chase the architect today to get the next round of sketch designs done - not going to be done until at least the middle of the week when we should already have them. I hate feeling that I have to chase someone for work when I'm going to be paying a really quite significant sum of money to get that work done - I felt the same chasing our solicitors for the house purchase conveyancing. Architect has so far produced every single thing later than his original estimate, which is a little tedious. It's not even like we're in a rush, but when someone promises something by X date, I expect it by X date, not within three weeks of that date. I like what he's doing, so intend to stick with him, but have given up on my previous buddy buddy approach and am just demanding a schedule now.

    Oh, another MSE win - discovered that DH drives past a Sainsburys petrol station on his way to work, but never fills up there as he is always running almost-late (it is on the wrong side of a dual carraigeway on the way home). Have instructed him to get his backside into gear 8 minutes earlier once a week and fill up there, as with 225 per month spend on fuel the nectar points will add up fairly quickly. Have resisted the urge to eye roll at him not figuring this out himself.

    To do today
    1. pack snacks for journey to friend's.
    2. pack up faulty shirt to return tomorrow. Argh. Will do this now.
    3. plan next week's work. Not done, but can do tomorrow as I have one of the DCs' friends over for a playdate so not like I'm going to get anything else done tomorrow.
    4. finish additional bit of contract work.
    5. help DC1 make progress on his homework and DC2 make a start on any he has (will probably have to outsource this to DH).
    6. Make kitchari for dinner.


    Debt repayment:
    - 20.85/30 April rounding down pot.
    - 1,914.58/5,000 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 1st Sept 2018: 12,221.27 unsecured debt/19,940 parental loan/191,003.72 mortgage = 223,165
    • Treadingonplaymobil
    • By Treadingonplaymobil 9th Apr 18, 6:14 AM
    • 1,694 Posts
    • 17,489 Thanks
    Treadingonplaymobil
    Week 61: Day 1

    Wow, the weeks are racing by at the moment. Just ridiculous. Can't believe we're barreling towards mid-April.

    Today is all about cleaning the house and doing some organising - we have a playdate here so I won't get anything that requires brainpower done, but the older two DCs will be occupied for much of the day so I will mostly only have DC3 to keep entertained, and she has a horrible cold and will probably cheerfully snuggle on the sofa with the tv on for hours.

    To do today
    1. Post faulty shirt.
    2. Make flatbreads for lunch.
    3. Plan week's work.
    4. Clean bathroom.
    5. Laundry.
    6. Ironing.
    7. Clean kitchen.
    8. Chase DH to submit expenses if not already done.
    9. Clear emails.

    Debt repayment:
    - 20.85/30 April rounding down pot.
    - 1,914.58/5,000 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 1st Sept 2018: 12,221.27 unsecured debt/19,940 parental loan/191,003.72 mortgage = 223,165
    • Treadingonplaymobil
    • By Treadingonplaymobil 9th Apr 18, 6:17 AM
    • 1,694 Posts
    • 17,489 Thanks
    Treadingonplaymobil
    April's list progress

    Home/Family
    1. Tidy the front garden.
    2. DH finish front fence.
    3. Prep veg beds, pots and bags, and plant what can be planted. Oh, this is another thing to add to today's list if the weather holds (dubious forecast right now)
    4. Chase people who thought they might have a trailer. Done, no joy so need to set up an ebay search.
    5. Mend poor Elsa's plait!!!!
    6. DH to find new budget recipes.
    7. Continue the more in depth food planning - this improved my general diet so much in March.
    8. Turn over the whole food budget issue some more and try to find a solution.

    Me
    1. Self care - downtime, nice baths, morning and evening rituals. Going quite well due to extra time off work during school hols.
    2. Keep up the yoga. OK, not amazing.
    3. Try to do a decent bit of walking/outside time every day.

    Work
    1. 10% growth on my main social media platform (317).
    2. A new blog post for my website.
    3. Get ahead with contract work.
    4. Focus on my key aim - of developing some passive income that allows me to move away from my current (not hugely enjoyable) main income source.

    MSE
    1. 30 minimum overpayment from rounding down YNAB pots. Progressing well.
    2. List wooden marble run on ebay.
    3. Keep entertainment outgoings to a sensible level during the easter hols. Not going so smoothly!
    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 1st Sept 2018: 12,221.27 unsecured debt/19,940 parental loan/191,003.72 mortgage = 223,165
    • warby68
    • By warby68 9th Apr 18, 9:16 AM
    • 1,011 Posts
    • 9,851 Thanks
    warby68
    Good thinking re shopping frequency and the fuel. OH's excuse is a little weak but perhaps whatever other petrol station he uses has the better snacks - worth comparing fuel prices as well to check the best option. I remember you saying he spent 7 or something daft on screenwash a while back, also in a rush - he seems to like convenience over cost on occasion so does he ever check fuel prices ? There might be a couple of quid there for you to benefit from too. I know the variance round here can be as much as 10p per litre.
    • pennywisepoundstupid
    • By pennywisepoundstupid 9th Apr 18, 9:46 AM
    • 4,861 Posts
    • 16,770 Thanks
    pennywisepoundstupid
    This is a handy website for finding cheapest fuel in your area.

    https://www.confused.com/on-the-road/petrol-prices
    Be mindful of your self-talk. It's a conversation with the Universe."
    Debt free and saving for my future
    Long term savings was 10,000 now 5000/borrowed 5000 for new kitchen which I MUST pay back. 5000/0
    • Silver Queen
    • By Silver Queen 9th Apr 18, 5:56 PM
    • 464 Posts
    • 2,108 Thanks
    Silver Queen
    The AA app also shows the cheapest fuel in the area and the distance to said cheapest fuel.
    Debt Totals September 2018::
    350 Natwest Credit Card / Now 0 (paid off and closed 04/2017) 15,500 postgrad loan from parents/ Now 9,250 500 train ticket loan from parents / Now 0 (paid off 16/02/18) 2,000 Overdraft Now 0 (paid off 09/03/18)
    • Treadingonplaymobil
    • By Treadingonplaymobil 9th Apr 18, 7:45 PM
    • 1,694 Posts
    • 17,489 Thanks
    Treadingonplaymobil
    Ugh, noisy busy playdate. Ended up with an extra couple of children here, feeling thoroughly wiped out!

    To do today
    1. Post faulty shirt.
    2. Make flatbreads for lunch. Particularly good batch, cooked in my ebay cast iron pan to this recipe (butter replaced with rapeseed oil)
    3. Plan week's work.
    4. Clean bathroom.
    5. Laundry. Done, but it got nicely rained on. Sigh.
    6. Ironing. Not done.
    7. Clean kitchen. Not done.
    8. Chase DH to submit expenses if not already done. Done, he'd already done it.
    9. Clear emails.

    Debt repayment:
    - 20.85/30 April rounding down pot.
    - 1,914.58/5,000 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 1st Sept 2018: 12,221.27 unsecured debt/19,940 parental loan/191,003.72 mortgage = 223,165
    • Treadingonplaymobil
    • By Treadingonplaymobil 10th Apr 18, 5:12 AM
    • 1,694 Posts
    • 17,489 Thanks
    Treadingonplaymobil
    Week 61: Day 2

    Morning! Feeling slightly rejuvenated and more alive today after playdate hell yesterday. Definitely feel like I have done my playdate duty for a little while.

    Minor financial win - DS1's friend's mum has been looking for a tutor too, and we are going to share the one I found. It reduces the price slightly to 18 per session if we share, which makes it significantly more affordable.

    Meeting a friend at a local woods for a walk today with the DCs, although the weather is so utterly uninspiring that I suspect we'll be mainly sitting in the cafe. Have enough in the entertainment pot for a juice for the DCs and a snack for me, but will take a picnic of some description, but am really feeling the Easter holiday expenses! Quite often we don't spend the whole of the entertainment kitty (during term time), especially now DH has toned down his weekend outings with the DCs, and usually we put the money into debt overpayment or balancing other pots, but I'm thinking that once the DCs are back at school I'll sweep any remaining money from the entertainment kitty each week into a 'school holidays and special occasions' pot, so there's a bit extra for those times when the DCs are around more. Silly to try to manage on the same money when they are around seven days a week as when they are around for only two.

    Feel like I'm already on the countdown to payday this month - work enquiries seem to have finally gone quiet (have been anticipating them doing so for a month or so), so very little interesting financial stuff going on, apart from the odd little overpayment from my rounding down of pots to the nearest pound.

    To do today
    1. Make picnic lunch.
    2. Get another laundry hung out (inside!).
    3. Make sourdough.
    4. Tidy DCs' room.
    5. Help DC1 and 2 with holiday homework.

    Debt repayment:
    - 22.38/30 April rounding down pot.
    - 1,916.16/5,000 2018 debt repayment goal.
    Last edited by Treadingonplaymobil; 10-04-2018 at 5:16 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: 38,608 unsecured debt/20,000 parental loan/173,282 mortgage = 231,890
    debt on 1st Sept 2018: 12,221.27 unsecured debt/19,940 parental loan/191,003.72 mortgage = 223,165
    • Cumbria lass
    • By Cumbria lass 10th Apr 18, 7:35 AM
    • 2,171 Posts
    • 13,237 Thanks
    Cumbria lass
    Totally agree about the school holidays pot, I had my DGS for three days last week and was amazed at how much entry is into some places. I have started a list of cheaper places to go and free ones. Will be using NT and English Heritage membership a lot more . Lessons learnt for me.

    Weather is awful here as well. My DGS is back at a school this week though.

    Have a good day with the DC .
    CC1 221 /3718
    • joeyjimbles
    • By joeyjimbles 10th Apr 18, 3:46 PM
    • 1,638 Posts
    • 8,866 Thanks
    joeyjimbles
    Well done on the tutor savings - might be more fun for DS1 too sharing with someone else.
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 10th Apr 18, 6:02 PM
    • 1,656 Posts
    • 8,322 Thanks
    wishingthemortgaheaway
    Well done on the tutor savings - might be more fun for DS1 too sharing with someone else.
    Originally posted by joeyjimbles
    With an added element of competition too.....
    The 100 payment countdown (each payment = 400) 2018 Starts at 13/100 o/s 34,750.
    Jan 18 14/100 Feb 15/100 March 18/100 April 19/100 May 20/100 June 21/100
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 1600ish/2,500
    • armchairexpert
    • By armchairexpert 11th Apr 18, 5:22 AM
    • 800 Posts
    • 5,275 Thanks
    armchairexpert
    Oh definitely save the underspend for the holidays! This is always my intent, although it rarely comes off, but otherwise you'll keep getting that dispiriting feeling of having to raid pots.
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 aiming for May 2028
    14 August 2017 - Refinanced: $220,000
    May 2018 $211,274.60 Current MFD 31 June 2035
    • Treadingonplaymobil
    • By Treadingonplaymobil 11th Apr 18, 5:38 AM
    • 1,694 Posts
    • 17,489 Thanks
    Treadingonplaymobil
    Week 61: Day 3

    Nice day yesterday - the weather actually held, so we had a pretty good trip to the woods. Everyone else clearly believed the forecast and stayed home, so we had practically the entire place to ourselves!

    To do yesterda
    1. Make picnic lunch.
    2. Get another laundry hung out (inside!).
    3. Make sourdough.

    4. Tidy DCs' room.
    5. Help DC1 and 2 with holiday homework.

    Cafe trip yesterday wiped out this week's entertainment kitty, but the DC and I are off to my mum's this afternoon, so no need to spend anything until the weekend, when it falls into next weeks's kitty . Busy few days actually - going to my mum's this afternoon, she is looking after them on Friday while I work at a client's, then picking up DH from an on-the-way train station first thing Saturday morning and driving to London to stay with SIL, and out for my dad's birthday lunch on Sunday. I have 63 put by for the lunch, as I think we might all contribute towards my dad's lunch too, and I'm hoping that will be plenty, although it's not a cheap restaurant (I think around 18-20 for a main). I don't really drink and will do a stealth beg to my siblings to pay my own meal plus my share of my dad's meal + drinks rather than splitting the bill evenly including all the inevitable booze (they are both childless, nice and know they are better off than me, and I don't think either will mind, even though they don't know about the debt).

    This morning before we go though I am taking the car to the garage AGAIN, as the handbrake is loose AGAIN. They did say it might need something more serious doing if it started to loosen again, although I can't remember what the more serious thing is. This car is going to bankrupt me! It still isn't running 100% reliably (loses power if accelerated up a hill too hard), but I can't afford for them to sort out the intermittent fault as I keep having to pay for other things instead. I'm worried it's becoming a money pit, but also aware that actually it didn't cost us much at all last year, so I suppose it's due an expensive few months as it's an old car and things are going to start going wrong with it. We really really need it to limp through the summer, as we need it for camping (hiring a big estate car for a week at a time is soooooo expensive), but I think if it's still costing a fortune at that stage we'll have to consider going carless for 6 months and using the spare money to save for a new (rubbish) car. In an ideal world though we'll manage to get this one running well enough to keep going for another 2-2.5 years, and replace it with something slightly newer which will give us more years of good use.

    To do today
    1. Pack for my mum's and London.
    2. Make good progress on DC1 and 2's homework with them.
    3. Bake sourdough.
    4. Clear ironing.
    5. Email shirt company for postage refund (for returning shirt).
    6. Tidy DCs room.

    Debt repayment:
    - 22.82/30 April rounding down pot.
    - 1,916.16/5,000 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 1st Sept 2018: 12,221.27 unsecured debt/19,940 parental loan/191,003.72 mortgage = 223,165
    • Working Mum
    • By Working Mum 11th Apr 18, 9:56 AM
    • 240 Posts
    • 768 Thanks
    Working Mum
    I have an 11 year old car and I have brilliant AA cover which costs me 28 per month for my son and I. It is the usual roadside/home start recovery which the AA is famous for BUT it also includes a protection for cost of the breakdown - so if my car breaks down I can pay an excess of 35 and they cover the cost of the parts and the repair.

    A mouse ate through my fuel pipe last week and the cost of repair was covered. It doesn't cover planned maintenance issues but if my car won't start or it breaks down and I call the AA out and the broken part is on their list (which seems to be quite long) then they cover the cost.

    My son and I have claimed on this policy twice in the last two years but has meant peace of mind about finding the money.
    • Treadingonplaymobil
    • By Treadingonplaymobil 11th Apr 18, 10:44 AM
    • 1,694 Posts
    • 17,489 Thanks
    Treadingonplaymobil
    I have an 11 year old car and I have brilliant AA cover which costs me 28 per month for my son and I. It is the usual roadside/home start recovery which the AA is famous for BUT it also includes a protection for cost of the breakdown - so if my car breaks down I can pay an excess of 35 and they cover the cost of the parts and the repair.

    A mouse ate through my fuel pipe last week and the cost of repair was covered. It doesn't cover planned maintenance issues but if my car won't start or it breaks down and I call the AA out and the broken part is on their list (which seems to be quite long) then they cover the cost.

    My son and I have claimed on this policy twice in the last two years but has meant peace of mind about finding the money.
    Originally posted by Working Mum
    That must be really reassuring. None of our problems have actually caused a breakdown though (even loss of power hasn't actually caused the engine to cut, and as soon as the ignition is turned off and on again the problem goes, so difficult to identify/resole), so probably wouldn't be covered unfortunately.
    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 1st Sept 2018: 12,221.27 unsecured debt/19,940 parental loan/191,003.72 mortgage = 223,165
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Apr 18, 6:58 AM
    • 1,694 Posts
    • 17,489 Thanks
    Treadingonplaymobil
    Week 61: Day 4

    Well the DC nearly broke me yesterday - slight stir craziness set in and their behaviour was atrocious all day! So difficult when all three lose the behaviour plot and you're on your own with them. Times like that I look longingly at people with their one well behaved child and think 'Three? Who thought three children was a good idea?!' I think they're much nicer now they've been asleep for the best part of 12 hours, particularly since they haven't woken up yet . Anyway, ended up buying some overpriced sweets in a petrol station yesterday on the way to my mum's, which irritates me on a health, plastic, MSE and child-bribery level, but did mean I could do the 'if you behave sensibly until the next motorway junction, I will give you a Percy Pig'. Parenting at its finest, I think you'll agree.

    Hoping they can spend the day running around my mum's enormous garden today, and the combination of change of scenery and rushing around all day will get them out of the behaviour rut of the past couple of days.

    The car ended up costing 139 yesterday, which is bad, but hopefully has resolved the handbrake problem. It used up the whole of the emergency and car funds (77 and 42 respectively), and I had to snaffle 20 from the extension savings pot too, but conveniently DH's expenses came in this morning and I had already balanced that budget pot (since the money was spent last month, it's easier in YNAB to balance everything before starting the next month) and conveniently came to 24, so I used 20 to refill the extension pot and 4 went towards debt overpayment. Annoying to be left with no emergency fund for the rest of the month, but hopefully nothing will crop up <awaits boiler explosion>. And let's all keep fingers crossed that's the last car drama for a couple of months so I can save up to get the intermittent fault checked again.

    To do today
    1. More progress on DC1 and 2's homework.
    2. Menu plan and food shopping list for next week (won't get a chance tomorrow or over the weekend).
    3. Contract work for next week.

    Debt repayment:
    - 22.82/30 April rounding down pot.
    - 1,921.09/5,000 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 1st Sept 2018: 12,221.27 unsecured debt/19,940 parental loan/191,003.72 mortgage = 223,165
    • warby68
    • By warby68 12th Apr 18, 7:18 AM
    • 1,011 Posts
    • 9,851 Thanks
    warby68
    Oh dear, just write yesterday off. You survived, that's good enough and a bag of Percy Pigs is a lot less damage than you might have done 12m ago

    You can bet they'll be on best behaviour for Grandma today (just to rub it in) - they are sneaky like that (although really it'll probably be the good night's sleep that cured the mood)

    Sorry your car is such a money pit at the moment - you are very patient with it. A bit of me wonders if you should sort new(er) car before extension - with a family of 5 and a fair bit of travel for work and family, the loss of a car would impact you quite hard I should imagine.

    Off to work myself now but today its only a trek downstairs as I'm working from home - a rather nice newish arrangement one day a week

    Have a good day - hopefully with your feet up for one
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