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  • FIRST POST
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Feb 17, 9:56 AM
    • 1,662Posts
    • 17,171Thanks
    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 181
    • Treadingonplaymobil
    • By Treadingonplaymobil 9th Aug 18, 5:58 AM
    • 1,662 Posts
    • 17,171 Thanks
    Treadingonplaymobil
    Week 78: Day 4

    Argh! I made an overpayment to the barclaycard a couple of days ago and it's just cleared, and I've realised I paid 422 off instead of 4.22!!! So daft. I've had to raid a couple of savings pots to balance it, but needs must in the face of epic stupidity. At least they haven't been raided to top up stupid spending in the traditional sense.

    The child benefit lands in 10 days, which is 192 and is un-budgeted at present, so that can be used to refill a couple of savings pots, but I'll still end up short. Sigh. At least it will be reflected in a smaller balance transfer for a 0% card! Can't believe I've been so silly.

    On the bright side, I'm now within 250 of the total CC debt being under 12k, and we've paid more than 8k off the debt in total since starting out on this journey (see my updated signature). Not exactly the way I would have chosen to get there though!

    As well as that little 5am drama, we've got a total disaster/huge cloud with tiny silver lining situation with the extension. The planners have completely turned their noses up at our extension plans. They are fine with the single storey extension but want us to dramatically reduce the size of the dormer, which means only three small-medium sized bedrooms (two small doubles and a single) plus a tiny 2sqm study. It was all wailing and gnashing of teeth yesterday when we first found out, but after about 12 hours of 'we just need to sell and move and stretch ourselves more' DH and I were talking around it and have come back to the discussion we have had before that we actually don't use our bedroom at all really - we don't go in there at all between getting dressed in the morning and going to bed at night, so it's literally just a space to hold a bed and clothes - we never read on our bed or watch TV up there or anything.

    The thought is that we could do the smaller extension, two of the children could share and whenever that becomes a problem (in a couple of years maybe) we could get a murphy bed (one that flips down from the wall) in the sitting room, with built in storage around it. The kids would then get a room each, and we'd have the storage in the sitting room plus the tiny study room as our space. In a few years time we could also look at putting a pod in the garden to give them a teenage hangout space if we felt they needed a 'living room' after we've gone to bed - we would have a reasonable sized kitchen diner for them to be in though, and a half decent bedroom each, so it wouldn't be a total punishment for them.

    The more traditional design of the dormer would also mean that if the house just didn't work, size wise, it would be an easier prospect to sell. And of course (silver lining) the significantly reduced and more traditional dormer would make the build a bit cheaper.

    It's not an ideal solution, but at this stage I think doing up, selling and moving might just break us financially, especially given the whole Brexit uncertainty with house prices. We would have to buy a doer upper, and would be in the position of not being able to afford to actually do it up for several more years, so we'd be done as DC1 was moving out, which seems a massive shame.

    On the one hand, I think maybe we're too attached to the house and need to get real, sell and move on to somewhere with more square footage, and other I think 'wow, exciting tiny house adventure, we can totally do this!' I'm not sure which side I'm coming down on more at the moment.

    To do this week
    1. DH to phone next handful of builders on the shortlist. This is postponed until we actually know what we're building.
    2. Create full list of all the 'extra' jobs that we want done alongside the extension before the first builder visits on Thursday.
    3. Check in with the people servicing my Kenwood Chef whether it's ready/needs open heart surgery. They are looking at it today apparently.
    4. Order DCs' uniform. I will actually do this one day instead of just moving it onto the next week's list .
    5. DH research new 0% deal for the one expiring in September
    6. Invite the other guest to DC1's party so we can book the campsite.
    7. Make a start on tax return.
    8. Menu plan for coming weekend/next week and update shopping delivery.
    9. Get a stock of social media posts ready for when we're away over the rest of the summer.
    10. Get some website content up.

    August money goals:
    - 15.04/31 August rounding down pot.
    - 3,657.20/5,000 2018 debt repayment goal.
    - 382/932 extension pre-build costs predicted shortfall.
    - 196/864 income needed for September .
    Last edited by Treadingonplaymobil; 09-08-2018 at 6:10 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 9th August 2018: 12,248 unsecured debt/19,970 parental loan/191,323 mortgage = 223,541
    • Savertobe
    • By Savertobe 9th Aug 18, 7:42 AM
    • 34 Posts
    • 240 Thanks
    Savertobe
    overpayment
    I think if you ring up you should be able to get the money just explain the error it is easily done. This might really set you on the wrong path going forward so it would be better to pull back.
    • Busy Mee1
    • By Busy Mee1 9th Aug 18, 8:10 AM
    • 675 Posts
    • 3,023 Thanks
    Busy Mee1
    That is a real shame on the planning news and a real blow
    I don't think all is lost though so a few thoughts and suggestions for options from me:

    1. You accept that your boys can share a room. This is perfectly acceptable and fairly normal. Lots of same sex siblings share rooms and it actually helps them to learn to share space and be considerate. Therefore your extension is big enough and there is no need for complicated sleeping arrangements for you and OH, which I think most other people would find unacceptable. You could add a cabin/summerhouse in the garden for extra teen space later on.

    2. You open your mind to moving. Actually get an estate agent round to value your house and start seriously looking. You can and will love another house.

    3. A mixture of the two. You do the extension now with a view to moving in maybe 5 years time. This means that you will need to keep costs down and don't spend more on fixtures and fittings than the house will be worth. You design the house with the general market in mind because it is not your forever house and you will be selling it on.

    I am sure others will also add into the mix and your conversation with the builder may help to clarify your thoughts.
    • Starmummy
    • By Starmummy 9th Aug 18, 8:54 AM
    • 197 Posts
    • 904 Thanks
    Starmummy
    Busy Mee has some fabulous points.

    When I moved to the town I live in now I was a single parent and I envisaged I would stay in this town pretty much for ever (or at least until Star Child was out of education).
    Fast forward four years and we have moved across town and in with Mr Star.

    Different choices lead to even more different choices and the Georgian end of terrace that we love and spent good money on getting planning permission to extend is now getting "done up to sell" and we plan on moving 200 miles away in the next two years.

    I shared with my sister growing up and it has given us such a bond. I barely know anyone with a same sex sibling that didn't share so I wouldn't worry too much about giving them a big room each.
    Our house has two good doubles and a single...Star Child gets the single. She is a child she gets what she is given.

    My main point is life throws you opportunities don't bury yourself in so deep with this house that you are unable to make the most of those opportunities.

    Take care

    SM
    Total debt at LBM c.19k
    debt consolidated 16/8/18 12,618.12/12,618.12 Total savings 400
    • ellen vannin
    • By ellen vannin 9th Aug 18, 10:03 AM
    • 247 Posts
    • 1,142 Thanks
    ellen vannin
    The last two posters have made good points.

    I really would give yourself time to think this through clearly . To do that you need to have a look around again at the current housing market in your area.

    As other posters , we shared bedrooms at home until late teens. No probs with same sex siblings sharing.

    Hope it works out for you.

    The Barclaycard could be a bonus, stops you from spending so much.
    Look at the 0% switching options soon on credit cards, interest is totally wasted money!
    • Honeysucklelou2
    • By Honeysucklelou2 9th Aug 18, 10:19 AM
    • 994 Posts
    • 4,221 Thanks
    Honeysucklelou2
    [QUOTE=Treadingonplaymobil;74636276]Week 78: Day 4



    As well as that little 5am drama, we've got a total disaster/huge cloud with tiny silver lining situation with the extension. The planners have completely turned their noses up at our extension plans. They are fine with the single storey extension but want us to dramatically reduce the size of the dormer, which means only three small-medium sized bedrooms (two small doubles and a single) plus a tiny 2sqm study. It was all wailing and gnashing of teeth yesterday when we first found out, but after about 12 hours of 'we just need to sell and move and stretch ourselves more' DH and I were talking around it and have come back to the discussion we have had before that we actually don't use our bedroom at all really - we don't go in there at all between getting dressed in the morning and going to bed at night, so it's literally just a space to hold a bed and clothes - we never read on our bed or watch TV up there or anything.

    The thought is that we could do the smaller extension, two of the children could share and whenever that becomes a problem (in a couple of years maybe) we could get a murphy bed (one that flips down from the wall) in the sitting room, with built in storage around it. The kids would then get a room each, and we'd have the storage in the sitting room plus the tiny study room as our space. In a few years time we could also look at putting a pod in the garden to give them a teenage hangout space if we felt they needed a 'living room' after we've gone to bed - we would have a reasonable sized kitchen diner for them to be in though, and a half decent bedroom each, so it wouldn't be a total punishment for them.

    The more traditional design of the dormer would also mean that if the house just didn't work, size wise, it would be an easier prospect to sell. And of course (silver lining) the significantly reduced and more traditional dormer would make the build a bit cheaper.

    It's not an ideal solution, but at this stage I think doing up, selling and moving might just break us financially, especially given the whole Brexit uncertainty with house prices. We would have to buy a doer upper, and would be in the position of not being able to afford to actually do it up for several more years, so we'd be done as DC1 was moving out, which seems a massive shame.

    Sorry to read about the planners. Just a couple of thoughts...

    Sharing a room with a sibling isn't a punishment. Many siblings share rooms up and down the country! My children all share a bedroom with a sibling and have worked it out so that each child has an area within each room. One DD actually dislikes being in the room on her own and will only settle when a sibling is with her.

    Before the ex moved out, we lived in a "separated under the same roof" scenario in which I slept in the living room with the toddler, who was only 4 months old at the time. I slept on a bed settee and it was tricky getting the bed out and put away again by morning. Some nights I went to bed quite late as so had to wait for everyone to have vacated the living room. The alternative was to get the bed ready but then It was limiting everyone's use of the living room. I only spent a few months like that but it wasn't easy and not having a space to go to was tricky as well. I can see why you're considering it but it's not an easy option.
    paydbx #93 784.50/8,000.
    Loan 17k - paid off in Aug 2017. Home improvement loans 3342 March 2017. 3123 in Jan 18
    • Honeysucklelou2
    • By Honeysucklelou2 9th Aug 18, 10:21 AM
    • 994 Posts
    • 4,221 Thanks
    Honeysucklelou2
    Whoops, first attempt at using the quote button. Not quite a successful as I'd hoped!!!
    paydbx #93 784.50/8,000.
    Loan 17k - paid off in Aug 2017. Home improvement loans 3342 March 2017. 3123 in Jan 18
    • loopybecs
    • By loopybecs 9th Aug 18, 1:12 PM
    • 602 Posts
    • 2,118 Thanks
    loopybecs
    Well done on your massive overpayment!!! Even if it wasnt intentional
    Mortgage: 88,000.00 86,500.00
    Loan From Parents: 15,300.00 15,100.00
    Emergency Fund: 100.00/5,000.00

    New Car Fund: 50.00/6,000.00
    Single mama to 2 little girlies
    • Gemsy81
    • By Gemsy81 9th Aug 18, 9:09 PM
    • 163 Posts
    • 492 Thanks
    Gemsy81
    I would just echo what the others have said about sharing with a sibling. I shared with my sister well into our teens, and we loved it. We separated our room into our own little areas, kept them tidy, and to this day, I don't like sleeping in a room on my own. I would agree that I do think it makes you more considerate.
    • Cherryfudge
    • By Cherryfudge 9th Aug 18, 10:45 PM
    • 1,922 Posts
    • 10,438 Thanks
    Cherryfudge
    What a day that was for you, TOPM! I hope the shock has lessened now. Savertobe may well be right that you could ring up and get the payment reduced - or perhaps partly reduced, so you keep some of the headway you've accidentally gained?

    I would just echo what the others have said about sharing with a sibling. I shared with my sister well into our teens, and we loved it. We separated our room into our own little areas, kept them tidy, and to this day, I don't like sleeping in a room on my own. I would agree that I do think it makes you more considerate.
    Originally posted by Gemsy81
    I'm another who shared for several years while growing up but (to put a spanner in the works!) my sister and I aren't particularly close nowadays. Maybe that's at least in part because I was the dominant one! We did divide the room up so we each had our own areas. Two of my own children (boys) shared till the older one moved out and they are still friends. Also, when I was at Uni, a lot of first year students had shared rooms, and when I was a full-time volunteer I shared a room with another volunteer I'd never met before. The College years were particularly good and I still treasure those friendships, but admittedly a relationship with a sibling may work out differently. Just saying there are things to be said for each way of doing things.
    MFW #30 Paid off 2,481.24/3770 as of 4/8/18
    • Treadingonplaymobil
    • By Treadingonplaymobil 10th Aug 18, 6:16 AM
    • 1,662 Posts
    • 17,171 Thanks
    Treadingonplaymobil
    Week 78: Day 5

    Just popping in quickly to say thank you for all your comments yesterday, I really appreciate you all taking the time to talk me down in a moment of crisis!

    I have left the 422 overpayment - I have to confess I just can't be bothered to chase DH to ring up (it's in his name) and explain and get it all refunded. He is so ridiculously busy at work, has done overtime (late into the evening) twice this week and is again on Saturday, and has still found time to do some extra jobs this week, and I don't want to break the poor man. It means a little less to worry about moving to a 0% card this month, and I'll reduce the payment down to the minimum (we are currently paying around 30 over the minimum) for a few months and top up the Christmas pot with the extra. It won't quite end up balancing, but not far off. It also takes us within 1,500 of our 5k goal for this year!

    Regarding the extension, we've talked it through repeatedly and have decided that for the foreseeable, the boys will have to share a room. We've discussed it with them and after a momentary disappointment they were fine. We can make sure it's a good sized room (we are dividing one big room in half to make their and DC3's room, and we can squeeze DC3's room up a little more to maximise their space!) and they have agreed that as long as they both get loft beds they are happy (they both desperately want to be on the 'top bunk'). They will also get the 'study' to share as a quiet space (or their room will be the quiet space and the study for playing in, haven't decided yet). And if at some point before DC1 moves out that becomes untenable for some reason, we will revisit the murphy bed/pod in the garden idea.

    We did really think about just smartening this place up and selling it, and I spoke to two estate agents yesterday, but both brought up how incredibly lucky we are to have such a great garden in the middle of town, and how we would really struggle to replicate that without moving further out, and it reminded me how grateful we've always been for the - relatively, for town - big garden. Also we'd end up in a tatty house forever, as we just wouldn't be able to afford to smarten up a house if we spent another 20-40k actually buying it, plus moving costs etc. Both estate agents were also really positive about our planned works and how much value they would add relative to their cost.

    To do this week
    1. DH to phone next handful of builders on the shortlist. This is postponed until we actually know what we're building.
    2. Create full list of all the 'extra' jobs that we want done alongside the extension before the first builder visits on Thursday.
    3. Check in with the people servicing my Kenwood Chef whether it's ready/needs open heart surgery. DH is picking it up today.
    4. Order DCs' uniform. I will actually do this one day instead of just moving it onto the next week's list .
    5. DH research new 0% deal for the one expiring in September. He's done this, is going to apply for one this afternoon.
    6. Invite the other guest to DC1's party so we can book the campsite.
    7. Make a start on tax return.
    8. Menu plan for coming weekend/next week and update shopping delivery.
    9. Get a stock of social media posts ready for when we're away over the rest of the summer.
    10. Get some website content up.

    August money goals:
    - 15.04/31 August rounding down pot. Um. I might not add to this much more this month after the accidental 422 overpayment .
    - 3,657.20/5,000 2018 debt repayment goal.
    - 382/932 extension pre-build costs predicted shortfall.
    - 196/864 income needed for September .
    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 9th August 2018: 12,248 unsecured debt/19,970 parental loan/191,323 mortgage = 223,541
    • zcrat41
    • By zcrat41 10th Aug 18, 6:54 AM
    • 1,446 Posts
    • 3,919 Thanks
    zcrat41
    Hi Treading.

    Just discovered your diary - a fab read. Well done for all you've achieved so far.

    Just a note about your online shopping - I used Tesco for ages as it's reliable and I end up with a lot of Clubcard points towards days out. Then I had a browse on Ocado and created an account. Didn't order. Lo and behold a few days later I'm offered 30% off a first shop and 60 off the following 4. I'm hoping Tesco are going to come back to me with offers to tempt me back!

    Re wellies. Have you got an agricultural wholesaler near you? They do kids wellies too, much much cheaper than anything you buy online or in shops. They last forever as well. Don't think they're that eco though.

    Good luck
    Aim: To o/p the mortgage by 131 pm.
    07/18: 254. Smashed it!
    08/18: On target for 131
    • Honeysucklelou2
    • By Honeysucklelou2 10th Aug 18, 8:33 AM
    • 994 Posts
    • 4,221 Thanks
    Honeysucklelou2
    Good idea to chat through with the estate agents. A big garden will mean there's space for that pod should you need it at a later date.
    paydbx #93 784.50/8,000.
    Loan 17k - paid off in Aug 2017. Home improvement loans 3342 March 2017. 3123 in Jan 18
    • Tropically
    • By Tropically 10th Aug 18, 9:54 AM
    • 304 Posts
    • 1,036 Thanks
    Tropically
    When I was considering buying a flat, I fell in love with Clei furniture. You might like it for inventive small spaces!
    Mortgage started at 318,000 in June 2016. Original MF - 2041
    2017 OPs: 7000/7000
    Mortgage in Nov 2017 - 297,808
    • Starmummy
    • By Starmummy 10th Aug 18, 10:02 AM
    • 197 Posts
    • 904 Thanks
    Starmummy
    Morning TOPM
    nice to see you so positive on all fronts today.

    Some of the memories from sharing a room with my little sister are mys favourite. The jumping in each others bed during a thunder storm, the late night gossiping as teenagers, Always having a friend (even if she did steal my clothes and shoes)

    The garden pod sounds super fun.
    It's actually something on my 'list' for when we move, an out building or the potential, so I can have an office and somewhere to store the tonne of sports equipment we have in a 'cool' scandi way hopefully.
    Total debt at LBM c.19k
    debt consolidated 16/8/18 12,618.12/12,618.12 Total savings 400
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 10th Aug 18, 11:05 AM
    • 1,586 Posts
    • 7,819 Thanks
    wishingthemortgaheaway
    TOPM would you not be best keeping the new study area for yourself? Working from home does require some space, the few time's hubby and I both work at home on the same day is usually a disaster as one of us has to work in the dining room, nothing is to hand, and nothing can be left out if a meal interrupts the flow of work.
    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
    • mfmaybe
    • By mfmaybe 10th Aug 18, 7:26 PM
    • 1,138 Posts
    • 3,687 Thanks
    mfmaybe
    Just been catching up. A few random thoughts from me, in no particular order:

    I mentioned a contingency budget for your build in an earlier post. Don't think you replied (apologies if I missed it) but do please factor this in before you commit to the project. We are about to build our own home, which I've been researching for years, and it's the number one piece of advice I see in magazines, books, seminars etc! I have a friend who is a director of a housebuilding company and even they factor in 2-3%, but he recommends at least 10% for a self build project. You should consider this a real cost, until proven otherwise; so you need to know where it's coming from.

    Do you pay yourself your salary at the start of the month? Just thinking that most "employees" get paid at the end of a month. In some ways it makes no difference as a true "employer" would have to pay you regardless of the other surprise bills they had, but perhaps it would make it easier to see whether you were truly covering costs each month?

    Online shopping - I've started doing this (we now live a long way from our nearest Sainsbugs) and they have 1 delivery slots if you plan it right. However I've found you do need to write a shopping list first . If I do end up at the dreaded Te$co I use the scan and shop which is actually great for controlling spend. I wish all supermarkets did it.

    Beauty products. I'm another who baulked at the cost. Have you tried Steam Cream? Comes in a tin, made in UK as far as I'm aware and is cheap as chips from Amaz0n. I would also strongly advocate vouchers for presents to put towards your beauty spends.

    Planning. That is very frustrating. We had to make some compromises with our plans too, but one thing that kept me going was reading that many of the best designs end up coming from compromises. The truth is, our house will look and work better than our original submission. Hopefully this ends up being the case for you too.

    I'm sure I had some other thoughts but I do want to say how well you are doing. I found it refreshing to see what you had posted about food - ie it should cost what it costs, and it should always be ethical and that poor quality, poor welfare stuff just shouldn't be sold. I feel this way too but I'm always worried that it is easy to say this from a position of "privilege". You have articulated it way better than I could have, and it felt very real, too. You have a huge debt mountain still to climb but I'm truly in awe of you sticking to your principles.

    Oh and I've also made a switch to a shampoo bar - for some reason I had procrastinated, but your posts encouraged me. For anyone hesitant, it works exactly like a bottle of shampoo, I have long, coloured hair, and you would have no idea I've changed products. I also think they seem pretty cheap in comparison to many brands.

    Must go and cook tea, but thanks again for your honest and articulate posting

    Edit - I remembered the other two things. If you end up with no car, how will this effect your own client facing business? The second thing was the garden - do you grow any veg at all, you said you have a big garden? Currently all I have is some rocket and salad leaves in pots, but this alone reduces my plastic use quite alarmingly. We have also found a friend who has a huge productive veg garden and gluts are coming our way . Keep your ear to the ground for this - maybe you could trade home baking for fresh fruit or veg, for example?
    Last edited by mfmaybe; 10-08-2018 at 7:29 PM.
    BTL Overpayments since 20/4 30.63

    AFD June 8/15 NSD June 5/11

    Other debts paid since 1/1/14: 17,005
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Aug 18, 8:22 AM
    • 1,662 Posts
    • 17,171 Thanks
    Treadingonplaymobil
    Week 78: Day 7

    Morning! First day in weeks when we've (a) been at home and (b) DH has been around to do some childcare so I can get on with work/chores/batch cooking. Our house is a total disaster area!

    DH applied, and was accepted, for a 0% card with a 0% fee on Friday (Santander I think). What wasn't clear was what the limit would be on it, so we have no idea whether it's going to absorb some or all of the barclaycard balance, which starts accruing interest in September - waiting for the letter to come through next week. He did get an email saying his balance transfer was approved, so fingers crossed it's gone through for the full amount. That would be awesome, and would save trying to shuffle some onto the Virgin and paying off the remainder asap. The 0% period isn't that long (24 months, maybe 27 months), but the next 18 months are going to carry so much change anyway in terms of our borrowing/debt that I think that's ok.

    I have a mega epic list of doom for today - I'm going to my mum's with the children tomorrow, and won't be back home for a fortnight! DH will be here until Friday, as he's working this week before coming to meet us for camping. So I have batch cooking, packing, cleaning, laundry, ironing AND work to do. Argh. Even for me it's all a bit epic. And I treated myself to a lie in until a whopping 7:15am today , so my whole day is running two hours later than usual.

    Slightly stressed about money now for this month, not least because of the mad overpayment . It seems like every day brings more need to spend - more clothes I'd forgotten about (yesterday's realisation was that DC1 needs new waterproof trousers, and the next two can inherit the next size up, we are spending a fortune on diesel with all the schlepping around so that seems to need refilling every few days, DC2 needs loads more uniform than I thought because DC1 wore out so much stuff in the previous size, etc etc). It's starting to wear thin!

    I know we'll be ok next month because DH has done a fair bit of overtime (some of which won't get paid till end of Sept, but some will be paid this month), and I have plenty of contract work this month, but we'll only be ok if we keep a lid on things this month.

    I made a good sale in my smaller business last week, so the salary pot for September is inching up. It's not impressive, but anything I can make now means some of my bumper contract work income at the end of this month can go towards October's income too.

    Today's list (with this week's list stuff left on too)
    1. DH to phone next handful of builders on the shortlist. We are going to re-engage with two tomorrow now we have a clearer idea on how we're moving forwards.
    2. Create full list of all the 'extra' jobs that we want done alongside the extension before the first builder visits on Thursday.
    3. Check in with the people servicing my Kenwood Chef whether it's ready/needs open heart surgery. DH is picking it up today.

    4. Order DCs' uniform. I will actually do this one day instead of just moving it onto the next week's list .
    5. DH research new 0% deal for the one expiring in September.
    6. Invite the other guest to DC1's party so we can book the campsite.
    7. Make a start on tax return.
    8. Menu plan for coming weekend/next week and update shopping delivery.
    9. Get a stock of social media posts ready for when we're away over the rest of the summer.
    10. Get some website content up.
    11. Write packing list.
    12. Pack for the next fortnight
    13. Finish contract work for the next fortnight.
    14. Pack orders for smaller business.
    15. Get as much laundry done as possible in the rain - urgh to drying on airers again. Will have to take some dirty laundry to my mum's. As long as it's all clean before we go camping that's ok.
    16. make reusable wraps to take camping (in place of clingfilm).
    17. Order waterproofs for DC1.
    18. Life coaching update for last week.
    19. Patch my shorts (refuse to buy a new pair at this stage in the summer!).
    20. Refill our camping candles (for the tealight chandelier - we have little glass containers).
    21. Clear emails.
    22. Make big batch of curry to eat for lunch/freeze.
    23. Chase architect for updated plans.
    24. Update my smaller business to reflect the fact I won't be able to pack orders for a fortnight (I usually offer a small discount for the inconvenience of not posting for a while, but leave my shop open).
    25. Make flapjacks and freeze (will take frozen to my mum's for camping snacks).
    26. Spend 15 minutes doing a mad clean in each of the following rooms:
    (a) DCs' room
    (b) Our room
    (c) Hallway and stairs
    (d) Kitchen
    (e) Sitting room
    (f) Dining room
    (g) Utility room and back toilet
    (h) Bathroom

    There is actually more I want to get done today, but I'm going to plough through that little lot first and then worry about anything further.

    August money goals:
    - 15.04/31 August rounding down pot. Um. I might not add to this much more this month after the accidental 422 overpayment .
    - 3,657.20/5,000 2018 debt repayment goal.
    - 382/932 extension pre-build costs predicted shortfall.
    - 214/864 income needed for September .
    Last edited by Treadingonplaymobil; 12-08-2018 at 8:25 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 9th August 2018: 12,248 unsecured debt/19,970 parental loan/191,323 mortgage = 223,541
    • Honeysucklelou2
    • By Honeysucklelou2 12th Aug 18, 8:58 AM
    • 994 Posts
    • 4,221 Thanks
    Honeysucklelou2
    Best of luck with that list...I had one with about 20 points on this week and got about 8 done. Enjoy the time away with your mum and the camping trip.
    paydbx #93 784.50/8,000.
    Loan 17k - paid off in Aug 2017. Home improvement loans 3342 March 2017. 3123 in Jan 18
    • Treadingonplaymobil
    • By Treadingonplaymobil 12th Aug 18, 9:04 AM
    • 1,662 Posts
    • 17,171 Thanks
    Treadingonplaymobil
    When I was considering buying a flat, I fell in love with Clei furniture. You might like it for inventive small spaces!
    Originally posted by Tropically
    That looks like a great site, thanks so much! Have added to my list of places to browse once we are further down the line.
    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 9th August 2018: 12,248 unsecured debt/19,970 parental loan/191,323 mortgage = 223,541
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