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  • FIRST POST
    • XSpender
    • By XSpender 4th May 17, 11:12 AM
    • 3,295Posts
    • 33,977Thanks
    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.
    £19,914.15 at 28/12/18, £21,259.23 at 28/01/19, £21,083.50 at 28/02/19
Page 39
    • JingsMyBucket
    • By JingsMyBucket 9th Nov 18, 12:44 PM
    • 368 Posts
    • 4,109 Thanks
    JingsMyBucket
    DH still hasn't cleared his card. He cant find the card and they wont accept such a big payment over the phone but wont give him his card number (they gave me mine) so he can pay on line.
    Originally posted by XSpender
    About the card, if your DH really cannot find it, I would have him declare it to the CC company that it's lost so they will then reissue a new card to him. After he receives it, you can then make the payment and get it off your plate once and for all.

    Overall, great job @XSpender! You've been doing so well and reading your diary has been inspiring me to finally start addressing my financial quagmires once again later this month.
    MAR 19 GC: $58.86/$300.00 // 0/12 NSD
    FEB 19 GC: $451.32/$450.00 // 15/10 NSD
    JAN 19 GC: €104.88/€350.00 // 7/12 NSD
    Save 12K in 2019 - $132.86/$12,000 #123 (1.1% )
    • XSpender
    • By XSpender 9th Nov 18, 8:07 PM
    • 3,295 Posts
    • 33,977 Thanks
    XSpender
    About the card, if your DH really cannot find it, I would have him declare it to the CC company that it's lost so they will then reissue a new card to him. After he receives it, you can then make the payment and get it off your plate once and for all.

    Overall, great job @XSpender! You've been doing so well and reading your diary has been inspiring me to finally start addressing my financial quagmires once again later this month.
    Originally posted by JingsMyBucket
    Thanks JingsMyBucket. I will get DH to ring the CC company tomorrow. If they can't reset his on line access so I could do it that way it will be a new card like you say.

    I am shattered this week, probably because I have had a lot more client facing days than usual. Thankfully next week is quieter.

    I have TT from all my YNAB pots and my Carpet Settlement Pot is now at £75.94. At this rate I will be paying it off in the summer instead of Christmas

    DH have a Saturday booked in the calendar for Christmas shopping in early December but I need to start thinking about what to get DS. I am usually so much further along than I am now with the planning and buying DH has brought an Argos catalogue home for some inspiration for DS list and to remind him of some things he has been interested in earlier in the year. He doesn't ask for much but has asked for 2 items this Christmas which would come to £700!!! He's too young for one of them and will get a different version of the other at a lot cheaper price. I need some ideas to pass on to rellies too.

    I have bought 1 stocking filler for my Mum and DS advent calendar today.

    I'm planning a little housework tomorrow and DH and I are going to sort out the front bedroom. It still has stuff dumped in it from when we decorated the guest room. There are 6 big drawers where we keep all our walking and sports gear but they are a mess with more stuff outside them then in them so these will get sorted out too. We will also sort the DVDs and CDs to sell/trade in.

    DS has training and we are also planning a walk at our favourite NT site before it closes for winter. It has a great play area and we may follow this with a hot chocolate picnic. Don't know what DH will eat as he is on his plan but he may not be able to resist soup and cheese scones in the caf!. Will make a decision before I make the picnic what we are actually going to do. There is some money in the family fun pot if the temptation is too much.

    Fed up with my employer again. They appear to be finding ways to wriggle out of paying our annual bonuses and think offering a salary sacrifice option compensates for never giving anyone a pay rise.
    £19,914.15 at 28/12/18, £21,259.23 at 28/01/19, £21,083.50 at 28/02/19
    • brizzlegirl
    • By brizzlegirl 10th Nov 18, 1:00 AM
    • 587 Posts
    • 4,045 Thanks
    brizzlegirl
    Forget the £700!!!! And definitely get relatives to club in on some bigger items. Has worked for us over the years and our kids love it.

    Employers hey...can be a real pita. Hope the bonuses come through..

    Have a good weekend x
    MFW..aiming to pay it off in 2022.. 2019 Savings Rate - Goal 40% [17% Jan'19, 31% Feb] 2019 Income Goal £48/£750 March Goals: AFDs 6/25 Decluttering 10/60; LSDs x/10; NSDs x/10 Exercise in March RT xxk, 2/15 12k steps per day pls Aiming to be a true Frugalista!
    • Suffolk lass
    • By Suffolk lass 10th Nov 18, 9:39 AM
    • 2,623 Posts
    • 25,615 Thanks
    Suffolk lass
    Here is an idea for you as a family - you often talk of doing things as a family and this is great. A complete blast from the past but fantastic for getting the family active together.
    MFIT T5 target to clear our mortgage completely (£59,998) - Mortgage Free Wannabes 2019 #37 £23,972.28 after Feb
    Save £12k in 2019 - #68 target is £7k £2543.59 after Feb
    OS Grocery Challenge 2019 target is £3k 20.66% so far, just one March shop left
    My DFD is here
    • XSpender
    • By XSpender 10th Nov 18, 10:14 AM
    • 3,295 Posts
    • 33,977 Thanks
    XSpender
    Here is an idea for you as a family - you often talk of doing things as a family and this is great. A complete blast from the past but fantastic for getting the family active together.
    Originally posted by Suffolk lass
    What a great idea! I don't know who would like it the most DS or DH!
    £19,914.15 at 28/12/18, £21,259.23 at 28/01/19, £21,083.50 at 28/02/19
    • XSpender
    • By XSpender 10th Nov 18, 10:00 PM
    • 3,295 Posts
    • 33,977 Thanks
    XSpender
    DH went to the gym this morning and we then wet to the NT place for a walk with the dog. Beautiful day in one of my favourite places. It is quite a strenuous walk and poor DH has been wrecked all day. I think he did a bit much after the gym at 6.45am this morning. He has been very grumpy the last couple of evenings; I think the low calorie diet, high level of activity and no booze is getting to him a bit.

    We decided to have lunch out but the main caf! was closed so it was tea/juice and cake for me and DS and DH had the last sandwich at the smaller caf!.

    No housework or room sorting has been done today. Or anything else actually. I really must crack on with this tomorrow. DH also wants to take some games to the shopping centre to trade in. We are desperate for light bulbs which are going to cost a small fortune as I need 3 for the living room and 5 for the dining room.

    We had a letter from the new mortgage company today to advise that the interest for November would be taken on 16th Nov. I haven't had the overpayment back from the old mortgage company yet (it can take 2 weeks) so have had to transfer money from the Christmas pot and emergency savings pot to cover this. The good news is the payment is £150 less than I was expecting it to be
    £19,914.15 at 28/12/18, £21,259.23 at 28/01/19, £21,083.50 at 28/02/19
    • Verbatim
    • By Verbatim 11th Nov 18, 9:52 AM
    • 4,667 Posts
    • 14,305 Thanks
    Verbatim
    Great that you had savings to transfer. Things are on the up!
    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
    • XSpender
    • By XSpender 12th Nov 18, 12:39 PM
    • 3,295 Posts
    • 33,977 Thanks
    XSpender
    More problems with the heating as last week's work has caused a leak which has come through the ceiling, enough to wet the carpet and crack and stain the ceiling. DS had complained he could hear someone banging on his toys when he was trying to get to sleep and we didn't think anything of it but it must have been the dripping as it comes and goes.

    Statement from the carpet finance received and I am slightly out on my figures so 36p reduction in my favour. I have 23 payments left with one to go out later in the month. I would really like to settle this by the end of June next year which would mean finding £719.55 by then of which I have £76.76 so far.

    I am going to ask DH to order a replacement V1rg1n CC tonight. This way I can reset his online account to pay most of it off and will be able to make additional payments and check the balance etc as there will still be a balance outstanding.

    We have decided what we are buying DS for Christmas and I have begun ordering some items. DH and I are going to buy his main present on Wednesday evening as DH has the day off and is not at the gym. Christmassy coffee may also be consumed

    My Dad and Stepmum are coming for a visit on Saturday as they are in the country unexpectedly due to a bereavement. I am going to have to give the downstairs and bathroom a good clean and think of something to feed them. I may cook a chicken pie and have the makings of an apple and berry crumble in the freezer. Because DH is on his plan and won't eat any I can get away with making a crumble with ground almonds.

    I had a little chicken yesterday but the rest of the week I have eaten veggie! I have also lost 1.4lb by not eating so much rubbish and only having 1.5 beers which I didn't really enjoy. DH gets weighed tomorrow.

    I sorted all the gym and walking clothes in the drawers yesterday and have cleared the bedroom of doom a fair bit. There are lots of DVDs and CDs that we need to send to mu51c Magp13 over the next week or 2. A big bag of rubbish has gone in the bin and I found my favourite woolly hat that I thought was lost
    £19,914.15 at 28/12/18, £21,259.23 at 28/01/19, £21,083.50 at 28/02/19
    • brizzlegirl
    • By brizzlegirl 12th Nov 18, 12:43 PM
    • 587 Posts
    • 4,045 Thanks
    brizzlegirl
    to finding the hat. All sounds good with all things money as well as domestic.
    MFW..aiming to pay it off in 2022.. 2019 Savings Rate - Goal 40% [17% Jan'19, 31% Feb] 2019 Income Goal £48/£750 March Goals: AFDs 6/25 Decluttering 10/60; LSDs x/10; NSDs x/10 Exercise in March RT xxk, 2/15 12k steps per day pls Aiming to be a true Frugalista!
    • Suffolk lass
    • By Suffolk lass 15th Nov 18, 7:47 AM
    • 2,623 Posts
    • 25,615 Thanks
    Suffolk lass
    Sorry to hear about the heating leak. I had a good piece of advice from my builder friend. If you paint the ceiling with old-based undercoat before emulsion, it will stop any residual "bleed-staining" coming through.

    By the way, I hope you are earmarking that mortgage lump to either DH's card or your carpets fund after this month so they reduce more quickly!? My double glazing final 0% finance payment finally went this month so I am going to be allocating all of the £397 per month to mortgage over-payments between now and retiring in February - Christmas can take over spending at this time of year and suddenly that level becomes the new norm and there it is gone! You sound so focussed and your totals in your sig are so much better than when you started this diary but both of us have seen you get to point B before and then get deflected and the debt can increase so quickly. I hope you don't mind the reminder
    MFIT T5 target to clear our mortgage completely (£59,998) - Mortgage Free Wannabes 2019 #37 £23,972.28 after Feb
    Save £12k in 2019 - #68 target is £7k £2543.59 after Feb
    OS Grocery Challenge 2019 target is £3k 20.66% so far, just one March shop left
    My DFD is here
    • XSpender
    • By XSpender 15th Nov 18, 9:22 AM
    • 3,295 Posts
    • 33,977 Thanks
    XSpender
    Thanks for the tip for the ceiling Suffolk lass. It is a long, thin brown line rather than a patch so I am hoping it won't take much to hide it.

    The refund from the mortgage company was already earmarked to complete the small emergency fund, make up the rest of the Christmas budget and pay the interest for November which is the best part of £600. I was a bit out on the balance on DH CC not having access to the statement so the balance is not as low as I wanted it to be but still all at 0% and will be tackled after the carpets account.

    Spendy day yesterday as DH and I completed DS Christmas shopping yesterday and I only have PJs, a few small stocking fillers and a one item to buy for him. I haven't bought the last item yet as I am waiting for some Arg05 vouchers from work in December to go with those from Shop n Scan which will cover the cost.

    We have bought DS less this year but it has cost more as he has had a high cost main present but not much else. We have also included things in his 'Christmas budget' which we would have bought him anyway like some kit and new boots for rugby which he needed as he has grown out of his old ones. I have also passed on ideas of what to buy him to relatives rather than buying these things myself and then wracking my brains for what else they could get him.

    We still have DH parents to buy for and my friends 2 girls and for once I am completely stuck for ideas. I have a voucher to cover the friends gift. I have also decided to do stockings for my Mum and Stepdad who will be with us for Christmas. We don't exchange presents except a token box of chocs/wine at their request but as they are coming to us this year and I wanted to have a bit of fun with DS. B&M/P0undland here we come

    I am amazed by how much our grocery bill has dropped with DH doing his diet plan and not drinking and us subsequently not nipping to the shop for some beers and spending £25 on stuff we don't need at the co-op. We are under £190 and would usually be nearer £300-350 at this point in the month. I have also cut back and have been eating out of the freezer and having cheaper meals like a jacket potato for tea which has helped.

    I have to confess to 1 unbudgeted purchase which was a lamp shade and table lamp for the dining room in L/Ashley that perfectly match the lights in our living room which were bought elsewhere (2 rooms divided by an arch). The lamp shade was half price and the lamp 30% off but with an extra discount they were offering they ended up both at 50% off.

    Shuffled some bits into the carpet overpayment pot which now stands at £84.03. Another £12 and I will have knocked 2 payments off the balance
    £19,914.15 at 28/12/18, £21,259.23 at 28/01/19, £21,083.50 at 28/02/19
    • XSpender
    • By XSpender 19th Nov 18, 2:44 PM
    • 3,295 Posts
    • 33,977 Thanks
    XSpender
    We had a lovely visit from DDad and DSM this weekend and on Sunday visited a local Christmas fair.

    We are visiting DDad for our holiday next year and have decided to fly rather than drive. DH has a dodgy leg and we think it will be a struggle plus it puts DH under a lot of pressure to drive 12 hours a day and is an awful end to our holiday as he gets so stressed about it. We had planned to hire a car but DDad has said we can borrow one of his. All in all it will probably cost about the same to fly as it would to drive. Plus, because we are flying we won't be able to buy loads of stuff (wine and french country style stuff for the house ) so it will work out more

    The Christmas shopping has almost been completed. I am determined to get it completed by the end of the month so that I can concentrate on the house and food in December as we have more social events then and I am busy at work. DS has done his letter to Santa and there are no surprises on it, thank goodness. I will have to wait to buy 1 of DS gifts as I am using vouchers I won't receive until early December and will buy the rest of DH gifts nearer the time. He has had his main present in the summer but these are just small things from me like socks and underpants and a couple of treats.

    Carpets OP pot is up to £87.82. I would like to get to £191.88 by the end of the year which would be the equivalent of 4 payments cleared.

    The grocery budget is nearly empty due to buying some spicy sauces for DH and a box of GF macarons for me at the Christmas fair on Sunday. The freezers are full so there is plenty of food in there to last us until the end of the month. I must get a stock take done. It has been on the NST challenge all month and I still haven't done it.

    I have started a spread in my bujo of 19 things to do before 2019 and will post it when I have chosen my 19 things. Some are for fun, some are frogs and some are .
    £19,914.15 at 28/12/18, £21,259.23 at 28/01/19, £21,083.50 at 28/02/19
    • apple muncher
    • By apple muncher 19th Nov 18, 5:48 PM
    • 8,510 Posts
    • 65,365 Thanks
    apple muncher
    My dh would throttle me if I even thought about getting him socks and pants for cmas...!!
    NST March WINS #1; NSD 14/15; Ex 9/20; craft (12); remove 10 bagfuls (3)

    Mortgage £16,858 (01/14: £78,201; 01/15: £59,629; 01/16: 39,915; 01/17: 27,295; 01/18 23,143; 01/19: 18.275) MFWDate???
    • XSpender
    • By XSpender 19th Nov 18, 6:38 PM
    • 3,295 Posts
    • 33,977 Thanks
    XSpender
    My dh would throttle me if I even thought about getting him socks and pants for cmas...!!
    Originally posted by apple muncher
    Ah yes but DH likes Paul Smith socks and Ralph Lauren or similar pants so he has to wait until Christmas or Birthdays to get them and wear them until they are knackered
    £19,914.15 at 28/12/18, £21,259.23 at 28/01/19, £21,083.50 at 28/02/19
    • DD265
    • By DD265 19th Nov 18, 7:44 PM
    • 1,745 Posts
    • 4,159 Thanks
    DD265
    Ah yes but DH likes Paul Smith socks and Ralph Lauren or similar pants so he has to wait until Christmas or Birthdays to get them and wear them until they are knackered
    Originally posted by XSpender
    I buy OH expensive underwear/nice socks too. Usually as a smaller present alongside something really nice. And then I make myself happy by throwing out the old ones.

    Personally I love socks and underwear and I shall never admit to having too many of either.
    • XSpender
    • By XSpender 20th Nov 18, 6:12 PM
    • 3,295 Posts
    • 33,977 Thanks
    XSpender
    Just as I think we are getting on top of things I am given advance warning that I am going into consultation for redundancy for my job on Thursday
    £19,914.15 at 28/12/18, £21,259.23 at 28/01/19, £21,083.50 at 28/02/19
    • redofromstart
    • By redofromstart 20th Nov 18, 6:37 PM
    • 2,306 Posts
    • 14,671 Thanks
    redofromstart
    oh no, everything crossed for you.
    • apple muncher
    • By apple muncher 20th Nov 18, 7:36 PM
    • 8,510 Posts
    • 65,365 Thanks
    apple muncher
    Oh bu***r. Another one with fingers crossed x
    NST March WINS #1; NSD 14/15; Ex 9/20; craft (12); remove 10 bagfuls (3)

    Mortgage £16,858 (01/14: £78,201; 01/15: £59,629; 01/16: 39,915; 01/17: 27,295; 01/18 23,143; 01/19: 18.275) MFWDate???
    • DD265
    • By DD265 20th Nov 18, 8:19 PM
    • 1,745 Posts
    • 4,159 Thanks
    DD265
    Oh no XSpender, I hope it's good news
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 20th Nov 18, 8:36 PM
    • 8,419 Posts
    • 64,936 Thanks
    HairyHandofDartmoor
    Sorry to hear that, I hope you can arrange it so you keep your job.
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build Emergency Fund & Loss of Income Fund. Save for house repairs.
    EMERGENCY FUND £2,000
    "Tough times never last, but tough people do" - Robert H Schuller
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