Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Feb 17, 9:56 AM
    • 1,584Posts
    • 15,390Thanks
    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 160
    • remote_control
    • By remote_control 3rd May 18, 10:46 PM
    • 249 Posts
    • 956 Thanks
    remote_control
    Have you heard of this book: https://www.amazon.co.uk/Meet-Frugalwoods-Elizabeth-Willard-Thames/dp/0062668137/ref=sr_1_1?ie=UTF8&qid=1525383932&sr=8-1&keywords=meet+the+frugalwoods

    Very very inspiring! (I borrowed it from the library FYI....)
    • Treadingonplaymobil
    • By Treadingonplaymobil 4th May 18, 5:19 AM
    • 1,584 Posts
    • 15,390 Thanks
    Treadingonplaymobil
    Week 64: Day 5

    Lordy, this is not a week for achieving things. I seem to be having one of those weeks where the days just dribble away with nothing actually being done. The school crisis has occupied so much of my headspace. I have some meetings today with some high up bods so hopefully that will alleviate some worries.

    Friday mornings are always spent chilling on the sofa with DC3, who is without fail somewhat exhausted from four days of preschool and just wants to stare at the TV for a couple of hours, so I will hopefully get some admin/social media/email bits done before heading off to meetings this afternoon. At some point I also need to fit in packing for the weekend.

    Have just received my barclaycard statement so have made payment for that. Pleased to see that I am now paying more than 30 over the minimum payment by keeping my payment level at 285. Also made a rounding down overpayment too, so have just paid a whopping 2.65 extra on top of that 285, bringing debt repayments for the year ever closer to the halfway point of my 5k goal - up to 2,380.87. The barclaycard debt is now under the 11k barrier, which is rather nice, sitting at 10,888.08.

    Many things which probably won't get done today :
    1. Social media.
    2. Check DC2's uniform.
    3. Order uniform/underwear.
    4. Write packing list/pack for weekend.
    5. Order frames for DH's prints.
    6. Clear emails.
    7. Bake gluten free bread
    8. Make some other gluten free snack to take with us.

    Mini goals:
    - 13.84/30 May rounding down pot.
    - 2,380.87/5,000 2018 debt repayment goal.
    - 29.05 daily earning goal.
    Last edited by Treadingonplaymobil; 04-05-2018 at 5:44 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 13th May 2018: 13,648.58 unsecured debt/20,000 parental loan/192,680.11 mortgage = 226,328.69
    • enthusiasticsaver
    • By enthusiasticsaver 4th May 18, 5:47 AM
    • 6,401 Posts
    • 13,163 Thanks
    enthusiasticsaver
    Amazing what a difference it makes setting a fixed monthly repayment rather than just minimums. Under 11k on Barclaycard is great.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • Suffolk lass
    • By Suffolk lass 4th May 18, 7:04 AM
    • 1,971 Posts
    • 20,630 Thanks
    Suffolk lass
    It's nothing fancy. I reconcile YNAB every single day, and each time I do I move any odd pence leftover in any category to a 'debt overpayment' category. So say I have 50 in my weekly food budget and I spend 8.73, I've got 41.27 left in the pot, so I'll move 27p over to the debt overpayment pot. So it's never more than 99p from any one pot, but if I've spent in three or four pots (say, diesel, family kitty and food) then it's the total of the rounding down from each of those pots and can add up to a few pounds. I do the same in my business account and move the money over every week or two. I pay it off the barclaycard every time the debt overpayment category goes over 1, so I can't be tempted to reabsorb it back into my budget when things are tight at the end of the month.
    Originally posted by Treadingonplaymobil
    I do mine by moving the little straggly bits from our current accounts into the cash savings account, also on a daily basis - it is known as Tilly Tidying on MSE

    TOPM you could used bit of that tidying money to overpay your mortgage by 1.19 and put your OCD readers out of their mortgage-misery - once you start, it is also very pleasing....

    Oh yes, I echo WTMA sentiments - MOVE AWAY FROM THE TOILET BRUSH!!
    Last edited by Suffolk lass; 04-05-2018 at 7:27 AM. Reason: edit
    MFiT T4 #2 update 88.72% after Q9 tiny bit ahead of where I should be
    Save 12k in 2018 #53 - after March 19.96% 1,996.19/10,000 5.04% behind
    OS Grocery Challenge 2018 spent 721.33/3,000 including stores so far 24.04% of my annual budget at the end of April
    My DFD is here
    • Tropically
    • By Tropically 4th May 18, 8:14 AM
    • 253 Posts
    • 742 Thanks
    Tropically
    Hello! I have just finished reading your diary - slow at work over the last week! I am also a maker and tinkerer as well as an environmentalist. Two small pieces of unsolicited advice, cheese making is fun but best left to the professionals and eco-deodorant just doesn't work! I suspect you have already tried both of those things though.

    Have you ever tried buying in bulk? I have read that you've struggled to keep the food budget down without feeling like a lump (I get that way too). Maybe the solution is to buy some items (like the flour you use for your sourdough) in bulk. It will also have the benefit of having less packaging waste, depending on the type.
    Mortgage started at 318,000 in June 2016. Original MF - 2041
    2017 OPs: 7000/7000
    Mortgage in Nov 2017 - 297,808
    • Treadingonplaymobil
    • By Treadingonplaymobil 4th May 18, 9:13 AM
    • 1,584 Posts
    • 15,390 Thanks
    Treadingonplaymobil
    I do mine by moving the little straggly bits from our current accounts into the cash savings account, also on a daily basis - it is known as Tilly Tidying on MSE

    TOPM you could used bit of that tidying money to overpay your mortgage by 1.19 and put your OCD readers out of their mortgage-misery - once you start, it is also very pleasing....

    Oh yes, I echo WTMA sentiments - MOVE AWAY FROM THE TOILET BRUSH!!
    Originally posted by Suffolk lass
    But once I start there will be the temptation to continue! And I need to keep laser focus on the CC debt rather than spreading money around, or I know I'll lose focus and end up repaying less overall.
    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 13th May 2018: 13,648.58 unsecured debt/20,000 parental loan/192,680.11 mortgage = 226,328.69
    • Treadingonplaymobil
    • By Treadingonplaymobil 4th May 18, 9:19 AM
    • 1,584 Posts
    • 15,390 Thanks
    Treadingonplaymobil
    Hello! I have just finished reading your diary - slow at work over the last week! I am also a maker and tinkerer as well as an environmentalist. Two small pieces of unsolicited advice, cheese making is fun but best left to the professionals and eco-deodorant just doesn't work! I suspect you have already tried both of those things though.

    Have you ever tried buying in bulk? I have read that you've struggled to keep the food budget down without feeling like a lump (I get that way too). Maybe the solution is to buy some items (like the flour you use for your sourdough) in bulk. It will also have the benefit of having less packaging waste, depending on the type.
    Originally posted by Tropically
    Although i find most eco deodorant a bit rubbish, I get on quite well with crystal deodorant - when my current one (salt of the earth - nowhere near as good as my previous pitrok one) runs out I'm going to try to get one without packaging next, maybe this one.

    I haven't researched bulk buying much - beyond buying the biggest item in the supermarket - due to lack of storage space, but once we do our extension I'm hoping for more sensible larder storage so we can get things in bigger packs.
    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 13th May 2018: 13,648.58 unsecured debt/20,000 parental loan/192,680.11 mortgage = 226,328.69
    • GeorgianaCavendish
    • By GeorgianaCavendish 4th May 18, 10:37 AM
    • 620 Posts
    • 3,718 Thanks
    GeorgianaCavendish
    I agree with you about keeping the laser focus on the credit card debit. I "tidied" all my balances (except personal loan) this month and although there is something satisfying about a neat figure, it is much better to stick to the plan of making all overpayments to the priority debt.
    Working towards being debt free by 31st March 2020!
    • WannabeFree
    • By WannabeFree 4th May 18, 2:23 PM
    • 1,534 Posts
    • 13,263 Thanks
    WannabeFree
    I just want to say don't get your hopes up of a quick turnaround of being a better school. My smalls school changed to an academy 3 years ago after going into special measures and we've had 3 different principals and no one wanting to take it on now! Mine are on the transfer list but it is very long

    Also Halfords have a huge sale on camping things instore. Not sure if it's online too?

    x
    Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.
    • Treadingonplaymobil
    • By Treadingonplaymobil 5th May 18, 8:32 AM
    • 1,584 Posts
    • 15,390 Thanks
    Treadingonplaymobil
    Week 64: Day 6

    Away for the weekend, but just popping by to share my reduced daily earnings goal after bringing in another bit of money yesterday. Only 90p less than yesterday, but I'll take that.

    Mini goals:
    - 14.94/30 May rounding down pot.
    - 2,380.87/5,000 2018 debt repayment goal.
    - 28.14 daily earning 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 13th May 2018: 13,648.58 unsecured debt/20,000 parental loan/192,680.11 mortgage = 226,328.69
    • enthusiasticsaver
    • By enthusiasticsaver 5th May 18, 8:39 AM
    • 6,401 Posts
    • 13,163 Thanks
    enthusiasticsaver
    I agree with keeping laser focus on cc debt too. Concentrate on overpaying the mortgage when the debt is gone, particularly as you added the Tesco loan to it and presumably will add to it for extension. These little extra payments do make a difference though.
    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
    • Treadingonplaymobil
    • By Treadingonplaymobil 7th May 18, 7:26 AM
    • 1,584 Posts
    • 15,390 Thanks
    Treadingonplaymobil
    Week 65: Day 1

    Morning! Back home, and what a glorious bank holiday weekend it is. I hadn't realised how much I had missed the sun until it came back. Although need to find sun hats, shorts and sun cream for everyone - I'm sure we have them all packed up from last summer.

    Nothing wildly exciting to report on the financial front. I think we spent fairly sensibly on the weekend - I spent 15 on food to take to a party and to our hosts, DH spent a tenner in the pub with the DH of my friend, but nothing else so far. We might pop to the beach for ice cream later if our food shop comes in under budget. On that subject, I am enjoying our fortnightly big menu plan/shopping events - not because it's saving us any money (it isn't), but because every other week I only need to do (or get DH to do) a tiny little fruit/veg/milk/bread type shop, which is so nice as it isn't such a massive chunk out of a day or evening, and with a schedule like ours that's really nice.

    No further progress on the extension - design is all on hold until we get a definitive answer regarding a sewer behind our house. We need permission to build over it, and we're not sure what they're going to say about access points etc. So going through a slooooowwww process with the water company.

    A nice long bank holiday to do list:
    1. Check menu plan for the week and write shopping list.
    2. Food shopping (might delegate to DH).
    3. Plan work this week.
    4. Clear emails.
    5. Contract work.
    6. Unpack and tidy away from the weekend.
    7. Laundry x1,000,000
    8. Find summer gear.
    9. Make something for packed lunches this week.
    10. Family meeting.
    11. Make something to use up any leftover veg.

    Mini goals:
    - 15.95/30 May rounding down pot.
    - 2,384.98/5,000 2018 debt repayment goal.
    - 28.37 daily earning 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 13th May 2018: 13,648.58 unsecured debt/20,000 parental loan/192,680.11 mortgage = 226,328.69
    • Suffolk lass
    • By Suffolk lass 7th May 18, 7:51 AM
    • 1,971 Posts
    • 20,630 Thanks
    Suffolk lass
    I know what you mean about the sun. I finally got DH to put up the rotary line (he has to do this after the last time we replaced the line as it is too tight for me) and at last, I got the sheets and towels out to dry in the fresh air. I slept so well last night in fresh sheets. Only just up in the last half hour and sitting here with a coffee. I love Bank Holiday Mondays, sitting around doing none of the things on my list for an hour, because I can!

    Have a good one and enjoy the beach
    MFiT T4 #2 update 88.72% after Q9 tiny bit ahead of where I should be
    Save 12k in 2018 #53 - after March 19.96% 1,996.19/10,000 5.04% behind
    OS Grocery Challenge 2018 spent 721.33/3,000 including stores so far 24.04% of my annual budget at the end of April
    My DFD is here
    • Treadingonplaymobil
    • By Treadingonplaymobil 7th May 18, 1:14 PM
    • 1,584 Posts
    • 15,390 Thanks
    Treadingonplaymobil
    List progress...

    A nice long bank holiday to do list:
    1. Check menu plan for the week and write shopping list.
    2. Food shopping (might delegate to DH).
    3. Plan work this week.

    4. Clear emails.
    5. Contract work. Almost done.
    6. Unpack and tidy away from the weekend.
    7. Laundry x1,000,000
    8. Find summer gear.
    9. Make something for packed lunches this week.
    10. Family meeting.
    11. Make something to use up any leftover veg.
    12. Make soup for the beach - we're going for dinner!

    Mini goals:
    - 15.95/30 May rounding down pot.
    - 2,384.98/5,000 2018 debt repayment goal.
    - 28.37 daily earning 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 13th May 2018: 13,648.58 unsecured debt/20,000 parental loan/192,680.11 mortgage = 226,328.69
    • Treadingonplaymobil
    • By Treadingonplaymobil 7th May 18, 1:34 PM
    • 1,584 Posts
    • 15,390 Thanks
    Treadingonplaymobil
    Also, I never did a May list! Here it is...

    Home/Family
    1. DH finish front fence
    2. Re-paint bathroom tiles (hopefully only another year to limp through! They have already been painted once but are a bit gross again).
    3. Buy a trailer for camping - keep checking ebay
    4. Book another of the summer camping trips.
    5. Check through the camping gear (maybe during an overnight away at the end of the month, where it doesn't matter if something isn't quite perfect) to see whether we need any new gear this year.
    6. Try to unsubscribe from some of our junk mail - it seems to be increasing and is such a waste of resources.
    7. Get a bit more ahead with packed lunch cooking - feel like I've slightly lost impetus with this.

    Me
    1. Plan, and stick to, a slower morning routine.
    2. Include a full daily yoga practice in that morning routine.
    3. Try to do a decent bit of walking/outside time every day.
    4. Lose another kg (currently 70kg on the nose).
    5. Keep up with a decent daily skincare routine - I am terrible for not cleansing my face properly in the evening and not actually using all the lovely lotions and potions loitering in my bathroom cabinet.
    6. Buy some clothes once I hit 69kg.

    Work
    1. 10% growth on my main social media platform (311).
    2. A new blog post on my website
    3. Get ahead with contract work - at least one week ahead by the end of the month.
    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.
    2. List wooden marble run on ebay/gumtree.
    3. Keep up with the daily earning goal to try to make some headway in the extension savings.
    4. Get past the halfway mark (2.5k) towards my debt repayment goal for the year.
    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 13th May 2018: 13,648.58 unsecured debt/20,000 parental loan/192,680.11 mortgage = 226,328.69
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 7th May 18, 2:18 PM
    • 1,328 Posts
    • 6,180 Thanks
    wishingthemortgaheaway
    TOPM. It could be that your junk email is increasing because everyone is asking you to opt in for GDPR purposes, you could ignore it until after 25th May and see how much stops then.
    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
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 1600ish/2,500
    • Plain Jane
    • By Plain Jane 7th May 18, 6:24 PM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    Hi TOPM been subscribed to your thread quite a while now but never posted. I just wanted to say you!!!8217;re amazing. Don!!!8217;t know how you fit it all in especially the cooking! I!!!8217;ve got a Barclaycard with a similar balance as you can see from my signature. I!!!8217;ve resolved to pay 300 per month so just over the minimum - feels like it!!!8217;s going to take forever with the other debts too.
    1st May 2018 - Barclaycard 12,843.39 12047.93 11747.93, MBNA 1 5734.86 5676.72 [5528.78, MBNA 2 9209.36 9209.369117.27, Optima (Boiler) 19301824.97, Halifax 4865.40 4865.404768.58 - TOTAL 34582.83 3372932987.53
    • Treadingonplaymobil
    • By Treadingonplaymobil 7th May 18, 9:04 PM
    • 1,584 Posts
    • 15,390 Thanks
    Treadingonplaymobil
    Glorious afternoon at the beach, just what the doctor ordered. We tried a new beach (there are so many near here) and it was a total pain to drive to - almost an hour because of the lanes, despite being not too many miles as the crow flies - but it was absolutely beautiful once we got there. Took soup in a thermos, bread and butter and some flapjacks for pudding, so didn't spend anything. We were talking about what we'd do with our 1m premium bonds win (because obviously we're going to win now I have 800 in premium bonds ) and I said I'd keep our house but buy a little flat or cottage with a sea view, that we could have as a holiday let but use ourselves too. I do so love being by the sea, but I'm so settled where we live now, and I'd hate to live so far away from transport networks full time. DH was down with that, so it's good to know we've got a plan for when we make our million .

    During family meeting when we got back I told the DC there was 20 left in the family kitty from last week, and said I was putting 10 in the summer holiday pot, but asked what they wanted to do with the other 10 (I suggested extension savings or ipad savings, as we are saving towards a replacement for our ancient and temperamental 2nd generation ipad, but said they could choose any budget category to put it in), and they both said they wanted it to go into the extension savings pot, which I was quite impressed with. They are really enjoying seeing the number increase each week at family meeting - we write it down on a piece of A3 paper along with the chores to do list for the week and the amount left in the family kitty.

    A busy week this week - contract work tomorrow, then working away Wed and Thu, which won't be hugely well paid but will be really enjoyable as it's with clients I get on with very well, then clients again on Saturday. Have already been paid for Saturday's work, but will be paid for Wed/Thu at the end of the month, which is always nice as it feels like free money when I get paid .

    A nice long bank holiday to do list:
    1. Check menu plan for the week and write shopping list.
    2. Food shopping (might delegate to DH).
    3. Plan work this week.

    4. Clear emails.
    5. Contract work.

    6. Unpack and tidy away from the weekend.
    7. Laundry x1,000,000
    8. Find summer gear. Done, but not sorted yet.
    9. Make something for packed lunches this week. Made a quiche base but got distracted and didn't do the filling! One for tomorrow.
    10. Family meeting.
    11. Make something to use up any leftover veg.

    12. Make soup for the beach - we're going for dinner! Rather cunningly made veg soup with the aforementioned leftover veg.

    Mini goals:
    - 15.95/30 May rounding down pot.
    - 2,384.98/5,000 2018 debt repayment goal.
    - 28.37 daily earning 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 13th May 2018: 13,648.58 unsecured debt/20,000 parental loan/192,680.11 mortgage = 226,328.69
    • Treadingonplaymobil
    • By Treadingonplaymobil 8th May 18, 5:36 AM
    • 1,584 Posts
    • 15,390 Thanks
    Treadingonplaymobil
    Week 65: Day 2

    Morning! One last moderately warm day today before the weather gives up again, according to the forecast. How can it be 10 degrees colder tomorrow than it was yesterday?! Ridiculous. Never mind, at least we enjoyed it while it lasted. Need to knuckle down today and get some work done, as well as some house stuff. Feeling quite energetic so hopefully won't struggle to get things done. My mum is coming later, so at least someone will clear the ironing.

    The rounding down pot has been going great guns this month after a ton of teeny little rounding downs in both our joint and my business account. Another 3.09 sent to the Barclaycard this morning.

    Three things to do today (I have more if I get these done!):
    1. Pack order for smaller business.
    2. Contract work for next week.
    3. Quiche filling.

    Mini goals:
    - 19.04/30 May rounding down pot.
    - 2,388.07/5,000 2018 debt repayment goal.
    - 28.21 daily earning goal.
    Last edited by Treadingonplaymobil; 08-05-2018 at 5:41 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 13th May 2018: 13,648.58 unsecured debt/20,000 parental loan/192,680.11 mortgage = 226,328.69
    • Treadingonplaymobil
    • By Treadingonplaymobil 9th May 18, 5:10 AM
    • 1,584 Posts
    • 15,390 Thanks
    Treadingonplaymobil
    Week 65: Day 3

    Another mild morning - so nice to finally genuinely not need the heating on in the morning. We had it on until so late this year. Spent a lovely afternoon in the garden in the sunshine yesterday, although the forecast is a bit bleurgh for today.

    Going away for work this morning and won't be back until late tomorrow. It always throws the week totally when I do this, and the house ends up a little less pristine than I would like (understatement). Can't complain as the money, while not exciting, is a good solid bit of extra income at the end of the month.

    Feeling really down about my weight this morning - I feel so blobby in my summer clothes. Really need to focus on it a bit and make proper time for a full yoga practice, as that always helps me make better food choices for the rest of the day - am going to go and practice as soon as I finish this post. My weight has been such a victim of this debt free journey - months of trying to cut the food budget meant less nice fruit and veg and no lovely big healthy salads in the summer, and it just crept on, for both DH and me. We are both struggling to lose it.

    Little else to report. I have a client enquiry that I need to respond to before I go - client work has definitely started slowing down for summer, as it always does. I will probably only see 1-3 clients a month from now until September, which is frustrating but does allow me time to work on my own website and try to increase traffic to it. I do at least have my minimum work expenses plus salary for all of June, July and August covered, and about 20% of September's (that will be filled up at the end of the month, if not before, to keep me at three months' buffer). I need to focus on how much more positive the situation is than last year or the year before, rather than feeling annoyed that I am not making my millions.

    Yesterday's list:
    1. Pack order for smaller business.
    2. Contract work for next week.
    .
    3. Quiche filling Didn't do this, but did freeze the base, and made oatcakes and rice crispie cakes for school cake sale.

    Three things to do today
    1. Make packed lunch to take with me to work today.
    2. Pack for 2 days away (not that I'm doing everything last minute or anything...).
    3. Make granola for the DCs breakfast either today or tomorrow (depending on whether it's made before they are up!).

    Mini goals:
    - 21.47/30 May rounding down pot.
    - 2,388.07/5,000 2018 debt repayment goal.
    - 28.27 daily earning 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 13th May 2018: 13,648.58 unsecured debt/20,000 parental loan/192,680.11 mortgage = 226,328.69
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

921Posts Today

7,191Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin