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
    • XSpender
    • By XSpender 4th May 17, 11:12 AM
    • 3,050Posts
    • 31,269Thanks
    XSpender
    Spend Nowt, Buy Nowt, Owe Nowt
    • #1
    • 4th May 17, 11:12 AM
    Spend Nowt, Buy Nowt, Owe Nowt 4th May 17 at 11:12 AM
    How do I start what feels like yet another diary?

    After being on the MFW board I have come back to the DFW board to shift the debt we have run up in the last 12 months.

    A quick back story….DH and I are classic impulsive over spenders who went pop back in late 2008 and managed to climb out of the pit of debt we were in by me losing my job and a big redundancy pay out in early 2010. We avoided debt until 12 months ago when we found our dream house about 4 months before we had planned to start looking which we could afford but were short on the deposit. If we had only ended up borrowing the bit we needed to top up the deposit we would be have been debt free by now.

    We have run up debt on buying the house, having some work done in the house and some furniture and soft furnishings and impulsive spending on holidays, meals out and the odd high ticket item. We thought we were past making these kinds of stupid decisions and are both worried and angry with ourselves at the level of debt we are in once again.

    The one thing we are agreed on is that we will live on fresh air to keep this house and we need to sort our finances out to give us the security that this could never happen. One day I will get to be a MFW again!

    To make matters worse 6 months after we moved DH has had some issues at work and has taken a job (same company) at a different location which has resulted in a reduction in the bonus he is paid monthly effectively reducing his monthly take home pay and his travel costs have gone up significantly. It hasn’t done much to reduce his stress levels either!

    Worrying about money and our financial security has started to get to me and I don’t want to feel like that again, I thought I had left that behind in 2010. It makes me worry about losing my job and I then start to doubt my ability to do my job. I also worry it will impact on our ability to re-mortgage at a good rate in 12 months’ time.

    I manage the finances but DH has (finally) got on board and has been writing his own plan about how we can stop spending and stop buying so we can owe nowt. Our good friends are also pulling in the purse strings as they have a family holiday to pay for so we have agreed to entertain each other at home rather than go out for meals with the kids which we did at least twice a month.

    Current Debts

    Bank of Mum and Dad - £4336.66 (17 payments left)
    Bank Loan - £12,114.51 (49 payments left)
    Bank CC - £9019.51 (1% payment to come off for May) – all at 0%
    DH CC - £5500 approx. – all at 0% until August
    My CC – £5782.31 – mostly 0% but some spending at standard rate
    BNPL – £400 – due 21st December 2017
    Owed to DS – £1296.79 – 0%
    Balance of trip to New York - £1098 due October 2017

    TOTAL £39,547.78

    Our plan is to drastically cut our spending and cancel the trip to New York for a start. There is not much we can do about our bills until June/July when they will all be up for renewal and I will hit the comparison sites. It is our spending on food and booze and stuff that needs to be reigned in hence the title of this diary.

    If we can stop adding to the debt by paying the minimum payments each month as well as clearing the BNPL we will knock £6000 off the balance by the end of this year. My goal is to be under £30,000 owed by the end of the year and then have cleared all CCs by June 2018 which is a massive challenge. We both get performance related bonuses, DH quarterly and me twice a year but none of these are guaranteed.

    Wish us luck and control over our spending urges.
    Will update when remortgage gone through...…….

    Big black hole of debt - £53,515.15 @ 16.12.17
Page 30
    • XSpender
    • By XSpender 1st Jul 18, 8:43 AM
    • 3,050 Posts
    • 31,269 Thanks
    XSpender
    Another beautiful morning here. I would be sitting in the conservatory but it is in the middle of a makeover!

    We have bought a tin of paint from Wilk0, some furniture paint and some cushions, moved some existing accessories in and bought a couple of plants. We inherited the very good quality cane furniture from the previous owners, which is in great nick if not to my taste. It is so comfortable. We were going to have the chairs re-covered at some point but DH washed one of the removable covers and had the genius idea late Friday night of just turning them over to the plain side The cost of this has been covered from the return of some curtains we had bought for the bedroom last month and other bits scraped up from the budget. It is a large room that we have never made use of and I have always been a bit embarrassed by the state of it When it is finished the room will have been totally transformed. I wish I could post you some pictures I am so pleased with how it looks, a bit of a retro 80s look but I love it. Or I will once it's finished

    I have been able to use £20 of the haircuts budget as when I went yesterday my hairdresser said my hair didn't really need a full cut so did a dry cut and we have agreed to leave it even longer between cuts as I am growing my hair.

    The £50 food budget didn't last long as we are on £58 now for week 1 and DS needs some pack lunch bits for a school trip and DH will probably want some beer for tonight.

    I also need to give DS £5 () for an art activity at school next week. This is on top of a dress up outfit and school trip cost of nearly £30 later in the week!

    DS has a sports activity this morning for an hour, DH is going to pick up the rest of the paint and continue upcycling the furniture and cleaning the conservatory ready for painting and I am going to do a bit of batch cooking from the freezer and do some housework to my standard Is it only my DH who cleans the bathroom but not the toilet?
    Will update when remortgage gone through...…….

    Big black hole of debt - £53,515.15 @ 16.12.17
    • Suffolk lass
    • By Suffolk lass 1st Jul 18, 8:51 AM
    • 2,077 Posts
    • 21,806 Thanks
    Suffolk lass
    I am going to do a bit of batch cooking from the freezer and do some housework to my standard Is it only my DH who cleans the bathroom but not the toilet?
    Originally posted by XSpender
    Err no. Got the T-shirt on that one. It was the same when his parents used to stay. They obviously were not trained as flush and check people.

    I hope the job-hunting is picking up a bit for your DH.
    MFiT T4 #2 update 94.29% after Q10 ahead of where I should be
    Save £12k in 2018 #53 - after August 78.83% £7,883.47/£10,000
    OS Grocery Challenge 2018 spent £1,530.09/£3,000 including stores 51% of my annual budget at the end of August.
    My DFD is here
    • enthusiasticsaver
    • By enthusiasticsaver 1st Jul 18, 12:14 PM
    • 7,040 Posts
    • 15,234 Thanks
    enthusiasticsaver
    Great that you have enough to cover July bills and hope something comes up for your DH soon. Sounds like he is keeping busy and doing up your house on a budget is perfectly acceptable both to save you money in the long run and keep his spirits up. You both seem to be working as a team which is good. My DH is hopeless with housework. When he cleans the bathroom he does a really good job (maybe once a year) and does it thoroughly but keeping on top of it weekly is always down to me. I have often wondered how long I can leave it before he notices but cannot stand dirty toilets, dusty baths and grimy shower cubicle.

    I think in your circumstances I would be ditching treats too until your DH gets another job so limited or no beer etc. Good for health too.

    Unfortunately something likes this gives you a shock and you realise how vulnerable you are when you have high debt. Luckily you seem to have either kept some of your money in reserve to tide you over for now and the bonus helped I guess otherwise you really would be in a difficult situation. Fingers crossed for some news on a job soon before August bills fall due.

    Addressing this debt once and for all once your DH gets another job should be a priority.
    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
    • XSpender
    • By XSpender 2nd Jul 18, 6:54 PM
    • 3,050 Posts
    • 31,269 Thanks
    XSpender
    £5 spent today on a school activity today. It appears not all parents paid so it seems I am subsiding other people!!!8217;s kids afternoon

    No other pennies have been spent except DDs. I forgot to cancel the boiler cover renewal and that has come out today. I will do it tomorrow. The renewal price has gone up another £72 and if it blows up it will get condemned. They tried to persusade us to have a new one instead or repairs 2 years ago as it was going to cost so much to repair. The thermostat system is obsolete and cant be covered.

    One of my 0% CC texted me a credit limit increase today of an additional £5000 DH and I were talking about how much trouble we would be in if we ran all the CCs up to their limits, it would be a shocking amount.

    I counted up my £2 tin today, which I thought had about £26 in it and I have £54

    DH has applied for another job but has still not cleaned the toilets. I didnt do it yesterday as he said he would do it today. He has cleaned the kitchen and made a lovely tea so not all bad. I have taken to writing him a list of jobs for the week to see if it can give him a bit of focus and he has added a couple of bits including DS haircut.

    I am going to DH gym tomorrow to see about signing up for their 6 week weight loss challenge. I need to confirm that the amount I need to lose to get my money back is safe and achievable for me to lose before I part with my birthday money. I am determined to get back to where I was, especially as my DMIL patted my fat tummy with a giggle as she walked past me yesterday

    DH and I have talked about how much money we spent on booze and snacks and food not on the list this weekend, probably 2/3 of our food spend. He has agreed to cut down on beer and this will cut down on the pops to the shop where we end up buying snacks and stuff we don't need. I am aiming for £50/week and this week we have spent £70. Before DH lost his job I would have been over the moon to spend so little but now we are skint I can see how much of this was unnecessary.

    Off to bath DS before I curl up with a cup of tea to watch Dani and Jack reunite
    Last edited by XSpender; 02-07-2018 at 6:59 PM. Reason: Shocking grammer
    Will update when remortgage gone through...…….

    Big black hole of debt - £53,515.15 @ 16.12.17
    • XSpender
    • By XSpender 3rd Jul 18, 9:37 AM
    • 3,050 Posts
    • 31,269 Thanks
    XSpender
    A bit cooler this morning but still a glorious sunny day

    Just making a list of things I need to sort out this week:

    1) Confirm work in house already committed to (unable to cancel
    /delay this as materials already purchased by 3rd party)
    2) Comparison for new electric and gas supplier
    3) Comparison for phone line and broadband supplier
    4) Cancel boiler cover
    5) DH balance transfer
    6) Spending balance transfer
    Will update when remortgage gone through...…….

    Big black hole of debt - £53,515.15 @ 16.12.17
    • XSpender
    • By XSpender 4th Jul 18, 10:08 AM
    • 3,050 Posts
    • 31,269 Thanks
    XSpender
    1) Confirm work in house already committed to (unable to cancel/delay this as materials already purchased by 3rd party)
    2) Comparison for new electric and gas supplier
    3) Comparison for phone line and broadband supplier
    4) Cancel boiler cover - see below
    5) DH balance transfer
    6) Spending balance transfer

    I spoke to BG yesterday and they have offered me 20% discount off my boiler cover to stay. It comes out slightly cheaper than last year's cover as I wasn't paying another £90 for the same cover for another year. We have decided to keep the cover. The last call out we had was in November and if it does need repairs we haven't got the money to fix it. It's OK in a heat wave but we have a bit old house that is freezing in the winter.

    DH is hoping to complete the painting in the conservatory today and the furniture painting by the end of the week. That will be another room ticked off. I am trying to encourage him to get the 2 other rooms done in the next 2 weeks before DS breaks up from school.

    The back bedroom will require a pot of one-coat plaster (£15), a maximum of 3 rolls of heavy duty lining paper (£20) and a tin of emulsion (£11 in Wilko). Oh and some wallpaper paste (£4). We will need a blind and bedding too but this can wait and I will use an old set I have. I have seen some beautiful bedding in the sale but can't afford it.

    The utility room will also need plaster, lining paper and paint, a basic unit, door and false drawer front, 2 handles, a basic sink and a tap. We have the tiles and the worktop already. We will need some new flooring but will keep our eyes out for a lino off cut. I would like something thick as there is a man hole cover in the middle of the floor so it can't be boarded out. It has hideous carpet tiles at the moment.

    DH is then free to look after DS and spend time landscaping and tidying the garden while DS plays outside. I have 2 weeks off in August and need to start looking for some free activities other than using our NT membership. DPIL were asking how much we would need for a holiday (to see my Dad) and we were very vague as I do not want to be given money for this (although I am very grateful for their kindness). We can't be swanning off on holiday when DH has a job to find and we have a mortgage payment to cover which is more than the cost of a holiday!
    Will update when remortgage gone through...…….

    Big black hole of debt - £53,515.15 @ 16.12.17
    • Working Mum
    • By Working Mum 4th Jul 18, 10:28 AM
    • 240 Posts
    • 771 Thanks
    Working Mum
    I have been reading your diary XS - you should be so proud!

    Have you considered dying quilt covers, conservatory sofa covers etc?? I had a big spate of dying light stuff darker colours a few years ago and have been so pleased with the results. A Freecycled Multi York lilac chair cover was rejuvenated into a black one for my bedroom! Love it.

    There are a lot of dusky pinks/purples and darker greys and blues which are popular at the moment - I paid about £8 for the dye and pennies for the salt which you need to use - three rounds in my washing machine and a lovely result.

    You seem so energised and motivated, keep it going!
    Last edited by Working Mum; 04-07-2018 at 10:32 AM.
    • XSpender
    • By XSpender 9th Jul 18, 1:16 PM
    • 3,050 Posts
    • 31,269 Thanks
    XSpender
    Good idea Working Mum. At the moment we have just turned the conservatory cushions over and they look good. The fabric is the same, just plain. I have managed not to buy the new bedding so far

    Please send us all your positive vibes, prayers and what not as DH has just left the house for a job interview. It is a good match for him and although a little bit further away than ideal it is half the distance of his previous job. I am struggling to concentrate this morning. Putting his suit on has really made DH want to go back to work so hopefully he will start to focus a bit more on job hunting if this one doesn't work out.

    Our food spending remains too high and we are going to have to adjust the budget or we will run out of it by next week.

    I have a work review tomorrow so am going to raise the idea of a pay rise and promotion. There is no formal route for either so will not be holding my breath but I believe I deserve one so will raise it anyway.

    3 weeks until my weight loss/fitness programme starts and I am chomping at the bit to start. DS is at a local event with DPIL on Saturday, they attend every year, so DH and I are going to do a day walk in the lakes.
    Will update when remortgage gone through...…….

    Big black hole of debt - £53,515.15 @ 16.12.17
    • Cumbria lass
    • By Cumbria lass 9th Jul 18, 7:30 PM
    • 2,180 Posts
    • 13,273 Thanks
    Cumbria lass
    Always read but don't often comment. Sending good vibes for DH hope he is successful today, or at least on the way to new employment.

    I will also be out walking in the lakes on Saturday, have a good day .
    CC1 £221 /£3718
    • apple muncher
    • By apple muncher 9th Jul 18, 8:10 PM
    • 7,685 Posts
    • 57,990 Thanks
    apple muncher
    Thinking of you + dh x
    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
    • Honeysucklelou2
    • By Honeysucklelou2 9th Jul 18, 10:10 PM
    • 1,065 Posts
    • 4,947 Thanks
    Honeysucklelou2
    Hope the interview went well.
    paydbx #93 £804.50/£8,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £2994 in Aug 18
    • Verbatim
    • By Verbatim 9th Jul 18, 11:11 PM
    • 4,615 Posts
    • 13,884 Thanks
    Verbatim
    Fingers crossed for your dh's job application.
    CCs @0% £24k Dec 05 £19,621.41 Au £13400 S 12600 Oct £11,981 £9481 £7500 Nov £7250 D £7100 Jan 6950 F £5800 Mar£5400 May £4830 June £4660 July £4460 Aug £3200, S £900, £0 18/9/07 DFW Nerd 042
    • brizzlegirl
    • By brizzlegirl 12th Jul 18, 10:26 PM
    • 351 Posts
    • 2,238 Thanks
    brizzlegirl
    Fingers and toes crossed xx
    MFW..aiming to pay it off in 2022.. 2018 Savings Rate - Goal 40% [29%May 25%June 15%July] 2018 Income Goal £88/£750 September Goals: AFDs 7/25; Decluttering 08/60; LSDs 02/10; NSDs xx/10 Exercise xx/15 12k steps per day pls Aiming to be a true Frugalista!
    • XSpender
    • By XSpender 16th Jul 18, 8:59 PM
    • 3,050 Posts
    • 31,269 Thanks
    XSpender
    HE GOT THE JOB!!!!!!!

    Thanks for all the finger crossing
    Will update when remortgage gone through...…….

    Big black hole of debt - £53,515.15 @ 16.12.17
    • redofromstart
    • By redofromstart 16th Jul 18, 9:49 PM
    • 1,937 Posts
    • 11,898 Thanks
    redofromstart
    Hurrah, that is brilliant news
    • Verbatim
    • By Verbatim 16th Jul 18, 11:07 PM
    • 4,615 Posts
    • 13,884 Thanks
    Verbatim
    Wonderful. So pleased for you both. When does he start?
    CCs @0% £24k Dec 05 £19,621.41 Au £13400 S 12600 Oct £11,981 £9481 £7500 Nov £7250 D £7100 Jan 6950 F £5800 Mar£5400 May £4830 June £4660 July £4460 Aug £3200, S £900, £0 18/9/07 DFW Nerd 042
    • Verbatim
    • By Verbatim 16th Jul 18, 11:09 PM
    • 4,615 Posts
    • 13,884 Thanks
    Verbatim
    How did your review and request for a pay rise go? Well I hope.
    CCs @0% £24k Dec 05 £19,621.41 Au £13400 S 12600 Oct £11,981 £9481 £7500 Nov £7250 D £7100 Jan 6950 F £5800 Mar£5400 May £4830 June £4660 July £4460 Aug £3200, S £900, £0 18/9/07 DFW Nerd 042
    • Honeysucklelou2
    • By Honeysucklelou2 16th Jul 18, 11:19 PM
    • 1,065 Posts
    • 4,947 Thanks
    Honeysucklelou2
    Brilliant news, well done to your DH.
    paydbx #93 £804.50/£8,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £2994 in Aug 18
    • apple muncher
    • By apple muncher 17th Jul 18, 6:18 AM
    • 7,685 Posts
    • 57,990 Thanks
    apple muncher
    Yay! Well done dh!
    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
    • XSpender
    • By XSpender 17th Jul 18, 7:46 AM
    • 3,050 Posts
    • 31,269 Thanks
    XSpender
    How did your review and request for a pay rise go? Well I hope.
    Originally posted by Verbatim
    DH starts his new job on Monday. They would have had him start yesterday if they could have got it through HR.

    My review went well. I am now clear that there are no opportunities for promotion due to my location 250 miles from HO and my line manager is to raise my request for a pay rise with the project manager. I’m not holding my breath. I enjoy the work I do for the client but I believe that it may be time to put the feelers out to see if there is anything else out there.
    Will update when remortgage gone through...…….

    Big black hole of debt - £53,515.15 @ 16.12.17
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

175Posts Today

1,535Users online

Martin's Twitter
  • RT @Dora_Haf: @MartinSLewis So many people on here saying they're great until you get your PROPER job. What if Your proper job Is ON zero?

  • RT @hslt88: @MartinSLewis I?m a trustee for a youth charity. We only have a limited pool of funds for flexible youth workers for holiday sc?

  • RT @Dan_i_elle_88: @MartinSLewis Loved working zero hour agency care work. Never out of work and I loved having the flexibility! Only left?

  • Follow Martin