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  • FIRST POST
    • Mummy_bear
    • By Mummy_bear 4th Jun 17, 8:02 AM
    • 524Posts
    • 1,789Thanks
    Mummy_bear
    On a Mission
    • #1
    • 4th Jun 17, 8:02 AM
    On a Mission 4th Jun 17 at 8:02 AM
    So this is me holding myself accountable, publicly, albeit anonymously, for my spending.


    To be fair I'm not so bad, sort of, ish.


    DH on the other hand has issues!!


    Why am I doing a Diary? Well it all came to a head when DH spent his entire wage (1500) within a week of being paid. Of course a portion of this went to bills etc. But equally a lot was wasted on games for his playstation.


    It's frustrating because between us we bring in over 3k a month and literally have nothing at the end of it. I'm sick of it.


    So I've took on this challenge. I will do my utmost to rein DH in and fully intend to get us out of this debt.


    My intention is to tackle the different debt one at time.


    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~


    I'm going to list our current debt.... GULP


    Outstanding on Mortgage - 84451
    Credit Card 1 - 2803.37 - interest free for 2 yrs
    Credit Card 2 - 1490 - interest free for 2 yrs
    Hitachi finance (for new Boiler) 3093 (includes interest)
    Littlewoods 518 (includes interest)
    Next 444
    Newlook (DH has no idea about this eeek) 130
    Loan 1 - 10865
    Loan 2 - 5964
    My overdraft currently stands at 150
    Dh's overdraft 700


    DH got a loan out last October - not sure what is outstanding on that so I'll have to update on that later.
    I do know that it's 155.12 a month payment.


    DH also has finance on a bicycle - again I need to get the outstanding on that
    Finance for a new TV - he got this against my advice - total amount was 899 - obtained earlier this yr - need the outstanding


    AND - he's recently took up a hobby that's resulted in the purchase, finance, for some items - again need to total figure on that one.


    See - he likes to buy things


    Without knowing DH's total outstanding I've totted up known figures.
    So including the mortgage we owe at least 110,608.37





    I also have a student loan that's 150 out of my wage every month. I believe I'm due my yearly statement this month so I can see what is outstanding hopefully. With 2 lots of Mat leave in the last 5 years it's taken longer to pay off. I'm hoping that I'm nearing the end though as that would be a huge help once gone.


    I do have some good habits!


    I overpay on our Mortgage. I think it's a monthly overpayment of around 120. I'll have to double check. Been doing that for years although previously the overpayments were more I the region of 75.


    I think initially I will concentrate efforts on overpaying the Hitachi finance and the Littlewoods account. Luckily with the Littlewoods account that is a buy now pay later (expires Jan) and I'm well on course to pay that off in time.


    With the Hitachi finance I currently pay just under 72 a month. I was the shittiest deal ever. However, it was Dec 2012. Our ancient boiler died. I was on mat leave. We needed a new boiler and in desperation took up the worst ever deal from British Gas. Ugh - shameful. I then just let it run it's course. I don't have figures at hand but I believe it was an 8 year deal and a disgusting interest rate.
    I logged into the account yesterday and found that it ends in Dec 2020. If I make just 18 a month overpayment it could end in Jan 2020!! I'm unbelievable peeved at myself for not concentrating on getting rid of this sooner. So that is my main goal!


    I aim to update at least once a week.


    By for now
    Last edited by Mummy_bear; 04-06-2017 at 8:05 AM.
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) 46444.23
    27263.33/46444.23 58.7% paid
Page 27
    • ChasingSunshine
    • By ChasingSunshine 30th Apr 19, 3:50 PM
    • 196 Posts
    • 1,247 Thanks
    ChasingSunshine
    Great update, glad all is going well with you and with the kids esp with the ease with which your DD seems to have settled into "school". You're so close to 50% paid off and are doing great especially being on no pay at the moment.
    • enthusiasticsaver
    • By enthusiasticsaver 30th Apr 19, 4:39 PM
    • 9,215 Posts
    • 21,420 Thanks
    enthusiasticsaver
    Well done on paying off almost 50% while still on maternity leave and glad your twins are coping without you on your Kit days. Hopefully nursery costs wont cripple you with two little ones. I assume your toddler gets her free hours?
    Early retired in December 2017

    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
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 30th Apr 19, 5:29 PM
    • 2,408 Posts
    • 13,460 Thanks
    wishingthemortgaheaway
    What an amazing update to read. You really are an inspiration.

    Wish.
    Outstanding mortgage: 27,000
    MFW 2019 Challenge Member #28: 800.something/ 2860
    • Mummy_bear
    • By Mummy_bear 25th May 19, 8:06 AM
    • 524 Posts
    • 1,789 Thanks
    Mummy_bear
    Wow has it really been this long? In my head I thought I'd written an update within the the first week of May. I literally refreshed my diary a few times thinking my clearly imaginary post would appear

    Mmmm

    OK, on to general updates. Tornado toddler has settled into full time pre school like a dream. She's such a confident child. No tears or fears. In fact its calmed her down. Just what she needed.

    The twins are 11 months old. Very different personalities but both extremely cheeky. They now full on crawl and have started precariously cruising along furniture. They get into way more trouble than my singletons ever did. Nothing is safe.

    We're going to start our journey towards home improvements soon. First job is our garden, particularly the fencing which will not last another windy winter. I'd contacted a few companies to obtain quotes. All but one didn't get back to me. The one that did failed to turn up at the agreed time to provide a quote. Quite surprised with this. However, it's probably done us a favour. We've had a proper look at what needs doing. Our fence posts are concrete and in good condition so in reality it's really only the fence panels that need replacing along with the tall garden gate. Therefore we're going to do it ourselves at a fraction of the cost. What we save will be put towards a new bathroom suite. The only thing against us is finding the time!

    We've made a decision not to get another car. During the periods when I'm working and hubby is off he'll just take me and collect me with the kids. It makes better sense finacially and I'm happy hubby came to that conclusion himself.

    Totals as of 25th May

    HSBC CC 4195 130 paid off
    MBNA CC 3250.50 62 paid off
    Tesco Loan 5533.04 213.04 paid off
    Santander Loan 3264.45 155.45 paid off
    M&S Loan 4498 155.12
    DH MBNA CC 2864.85 150 paid off


    Total debt as of 30th April 24477.88
    Total debt as of 25th May 23612.27
    ~~~~~~~~~~~~~~
    Monthly Challenge


    Earn 25 payable from survey sites

    0/25

    VO is now up to 10.10
    PA currently has 15.54 payable and 0.15 pending.
    Onepoll currently has 28.20 in there. getting through a few of these. Inching closer to the 40 cashout threshold
    Yougov currently has 75 points in there. Cashed out the 50 earlier this month.
    E.Rewards currently has 5000 points in there.
    Qmee has 0.75 in there .(February cashout so far 0)




    Pay off 850 from debt 865.61/ 850




    To list 10 new things on 3bay
    0/10



    MB
    Last edited by Mummy_bear; 25-05-2019 at 3:18 PM.
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) 46444.23
    27263.33/46444.23 58.7% paid
    • Mummy_bear
    • By Mummy_bear 5th Jun 19, 7:50 AM
    • 524 Posts
    • 1,789 Thanks
    Mummy_bear
    Signature update to reflect the end of May figures

    Almost at 50% paid

    21966.35/46444.23! 47.3% paid
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) 46444.23
    27263.33/46444.23 58.7% paid
    • Mummy_bear
    • By Mummy_bear 5th Jun 19, 8:34 AM
    • 524 Posts
    • 1,789 Thanks
    Mummy_bear
    Morning,

    Yesterday marked 2 years since I started this diary. Wow, just wow. I may not be an avid writer in here but I'm happy to report I've always continued to pay down our debts.

    I updated my signature this morning to reflect payments paid up until the end of may. That shows a total of 47.3% paid off a shocking 21996.35 This both disgusts me and makes me proud. I truly dread to think where we would be if we'd still been paying minimums. I really don't think we've given up too much in order to overpay.

    It has helped that DH is earning 5k more a year than when we embarked on this debt busting journey. But of course that has been a turbulent journey getting there.
    We've had surprise twins along this journey and still continued to overpay and save to allow me to have over a year off work with the babies. Previously, with my singletons I had to return to work when they were 10 months old.

    I've learned good habits. I now have different saving pots. One for Xmas and birthdays. One for school relat ed items -uniform, shoes, trips etc. One for annual bills, emergency fund, home improvements and car/bike maintenance. I meal plan every week without fail, I recommend this so much. I go shopping with a list. and shop at Adl1. I was watching a recent episode of shop well for less and the family was spending a week what we spend a month I actually can't get my head round this. Our cupboards are always full, we wouldn't have storage enough to spend those shocking amounts a month. However, I really do believe that cooking meals from scratch saves alot and certainly no separate meals for each child!

    Anyway onto this month's figures so far


    Totals as of 5th June

    HSBC CC 4065 130 paid off
    MBNA CC 3178 72.5 paid off
    Tesco Loan 5533.04
    Santander Loan 3264.45
    M&S Loan 4342.88 155.12
    DH MBNA CC 2714.85 150 paid off


    Total debt as of 25th May 23612.27
    Total debt as of 5th June 23104.65
    ~~~~~~~~~~~~~~
    Monthly Challenge


    Earn 25 payable from survey sites

    0/25

    VO is now up to 10.10
    PA currently has 21.29 payable and 5.38 pending.
    Onepoll currently has 28.20 in there. getting through a few of these. Inching closer to the 40 cashout threshold
    Yougov currently has 585 points in there.
    E.Rewards currently has 5000 points in there.
    Qmee has 0.75 in there .(June cashout so far 0)




    Pay off 850 from debt 507.62/ 850




    To list 10 new things on 3bay
    1/10



    MB
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) 46444.23
    27263.33/46444.23 58.7% paid
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 5th Jun 19, 7:32 PM
    • 2,408 Posts
    • 13,460 Thanks
    wishingthemortgaheaway
    Hey MB.
    Great totals there. Which debt are you targeting for overpayments at the moment? And, do you have a debt free date? Is it another 2 years to do the second 50% or will it be quicker?

    Your posts are great. Please keep posting.
    Outstanding mortgage: 27,000
    MFW 2019 Challenge Member #28: 800.something/ 2860
    • Mummy_bear
    • By Mummy_bear 6th Jun 19, 7:09 AM
    • 524 Posts
    • 1,789 Thanks
    Mummy_bear
    Hey MB.
    Great totals there. Which debt are you targeting for overpayments at the moment? And, do you have a debt free date? Is it another 2 years to do the second 50% or will it be quicker?

    Your posts are great. Please keep posting.
    Originally posted by wishingthemortgaheaway
    Hi Wishing.
    At the moment we're over paying all the credit cards.
    DHs card is set at an amount which means it'll clear within the interest free period.
    My HSBC one is set at 130 a month as the first payment was something like 126. The minimum payment has now something like 113 but I'm just keeping it at 130.
    My MBNA is the one I'll be tackling full force from July as the interest free period ends next June. From July I'll be chucking at least 350 a month at it.

    I haven't fully calculated my debt free date yet but it will definitely be in less than 2 years. Might sit down later and have a play around with figures to see what it could be.

    However, we're aiming to put our house on the market from Jan 2021 so not sure how that will impact things.

    MB
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) 46444.23
    27263.33/46444.23 58.7% paid
    • Mummy_bear
    • By Mummy_bear 7th Jun 19, 3:10 PM
    • 524 Posts
    • 1,789 Thanks
    Mummy_bear
    Today I decided to use a snowball calculator to see what the DFD date would be.

    It came up as April 2021. Therefore, less than 2 years to go. It seems both ages away and not that far off. I really hope I can get that DFD down

    MB
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) 46444.23
    27263.33/46444.23 58.7% paid
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 7th Jun 19, 5:20 PM
    • 2,408 Posts
    • 13,460 Thanks
    wishingthemortgaheaway
    Of course you can. You are super mum!
    Outstanding mortgage: 27,000
    MFW 2019 Challenge Member #28: 800.something/ 2860
    • Mummy_bear
    • By Mummy_bear 14th Jun 19, 8:30 AM
    • 524 Posts
    • 1,789 Thanks
    Mummy_bear
    Today is my first full pay since November. Such a healthy looking bank account.

    Today is also the day I've finally paid off my student loan

    Looking forward to seeing how I'll clear now that I don't have 155 deducted each month.Took longer to pay off due to all the Mat leave I've taken over the years
    Honestly it is such a weight lifted, didn't realise how much it must've affected me despite it being one of the debts not to worry about so much.

    Received an email last night from circle stating they're closing their service down. It therefore looks like future PA payments will be have to be with PayPal and therefore a fee will be paid That's a shame. Just cashed out 30 odd from PA yesterday. The email stated that once I withdraw my funds from circle to my bank account my Circle account will automatically close.
    Quite possibly fake news
    Today's plans include going into the local town and seeing if my favourite pair of boots can be salvaged at the shoe repair shop. The heel has come off. I'd rather not have to buy a new pair.

    Anyways bye for now
    MB
    Last edited by Mummy_bear; 14-06-2019 at 6:16 PM.
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) 46444.23
    27263.33/46444.23 58.7% paid
    • DancingInTheRain
    • By DancingInTheRain 14th Jun 19, 12:29 PM
    • 231 Posts
    • 815 Thanks
    DancingInTheRain
    Hi just read through your diary, your focus is amazing especially with such a young family - I struggle with 2 little ones so I think you must be some sort of superwoman!

    Great news about the full pay and student loan, wishing you well on your ongoing journey I'll be cheering you on x
    01/06/19 Total Debt 13,636 11,400 16.40% PAID
    CC1 (0% to June 2020) 2,708/975 CC2 (0% to October 2020) 5,978/5,600 Family Loan 4,950/4,825
    • Mummy_bear
    • By Mummy_bear 14th Jun 19, 2:35 PM
    • 524 Posts
    • 1,789 Thanks
    Mummy_bear
    Hi just read through your diary, your focus is amazing especially with such a young family - I struggle with 2 little ones so I think you must be some sort of superwoman!

    Great news about the full pay and student loan, wishing you well on your ongoing journey I'll be cheering you on x
    Originally posted by DancingInTheRain
    Thank you for taking the time to read through my diary.

    Wish I'd found this focus years ago though.I certainly hope to pass our wisdom onto the kids when they're older so they don't repeat our mistakes!
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) 46444.23
    27263.33/46444.23 58.7% paid
    • abba1772
    • By abba1772 14th Jun 19, 5:12 PM
    • 6,303 Posts
    • 25,457 Thanks
    abba1772
    Congrats on clearing the student loan xx
    NEXT TARGET BARCLAYCARD WAS 04.09.19 4299.29 NOW 1673.50
    POAMAYC 2011 6378.35 POAMAYC 2012 5000.78
    POAMAYC 2013 3480.04 POAMAYC 2014 4085.14
    POAMAYC 2015 7565.24 POAMAYC 2016 8000.90
    POAMAYC 2017 7278.80 POAMAYC 2018 13039.59
    POAMAYC 2019 11288.81
    • Mummy_bear
    • By Mummy_bear 15th Jun 19, 6:26 AM
    • 524 Posts
    • 1,789 Thanks
    Mummy_bear
    Thanks ABBA


    Loving the feeling of that Loan being paid off. Makes me hungry for more debt to be gone for good.

    Yesterday I managed to make my first ever FB sale. I've posted a few times in there and never really achieved interest. However, finally got interest in 2 carrycots for a double pram. So that's 85 made. I'm going to split this money between debt, savings and school fund.

    Off to 1kea today to buy the Kallax unit. It's the best thing I could find as a multi functional TV stand. The TV stand we currently have is 11.5 years old. It's perfectly fine and survived two children. However, the twins are in another league. They keep pawing at the TV and hitting it with toys. We don't want to add holes to the wall by mounting the TV so this is he next best option with the room we have.

    Oh got my boots fixed, although not sure how long they'll last. They set me back 3 So can't complain really.

    MB
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) 46444.23
    27263.33/46444.23 58.7% paid
    • enthusiasticsaver
    • By enthusiasticsaver 15th Jun 19, 3:24 PM
    • 9,215 Posts
    • 21,420 Thanks
    enthusiasticsaver
    Some positive news on your diary today then.

    FB Sale, student loan gone, first full months pay for a while and getting your boots fixed for just 3. Brilliant.

    You do sound incredibly focused and organised with four little ones. I could barely cope with two when mine were little and on the days we have our grandchildren (aged 3 and 1) I wonder how you have the energy to cope.
    Early retired in December 2017

    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
    • Kitten868
    • By Kitten868 15th Jun 19, 4:00 PM
    • 1,278 Posts
    • 3,472 Thanks
    Kitten868
    All sounding very good.

    Word of warning on the kallax. It looks like a climbing frame to kids and I really wouldn't put the tv on one. I have found it definitely worth it to put my tv up on the wall. We have a corner bracket now and I love it.

    Keep up the great work xxxx
    Loan 1 4400/8000
    Loan 2 2400/5800
    Total 6800/13800 51% PAID
    • Mummy_bear
    • By Mummy_bear 17th Jun 19, 9:07 AM
    • 524 Posts
    • 1,789 Thanks
    Mummy_bear
    Final scheduled debt payments of he month have left the account today.

    Annoyingly one of my car tyres has received a puncture from a screw of some sort.. my FB sale profit is paying for a replacement! !!


    Totals as of 17th June

    HSBC CC 4065
    MBNA CC 3178
    Tesco Loan 5320 213.04 paid off
    Santander Loan 3109 155.45 paid off
    M&S Loan 4342.88
    DH MBNA CC 2714.85


    Total debt as of 25th May 23612.27
    Total debt as of 5th June 23104.65
    Total debt as of 17th June 22736.21 sub 23k
    ~~~~~~~~~~~~~~
    Monthly Challenge


    Earn 25 payable from survey sites

    30.76/25

    VO is now up to 10.10
    PA currently has 2.89 payable and 5.38 pending.
    Onepoll currently has 28.20 in there. getting through a few of these. Inching closer to the 40 cashout threshold
    Yougov currently has 585 points in there.
    E.Rewards currently has 5000 points in there.
    Qmee has 0.75 in there .(June cashout so far 0)




    Pay off 850 from debt 876.06/ 850




    To list 10 new things on 3bay
    3/10



    MB
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) 46444.23
    27263.33/46444.23 58.7% paid
    • Mummy_bear
    • By Mummy_bear 17th Jun 19, 9:13 AM
    • 524 Posts
    • 1,789 Thanks
    Mummy_bear

    You do sound incredibly focused and organised with four little ones. I could barely cope with two when mine were little and on the days we have our grandchildren (aged 3 and 1) I wonder how you have the energy to cope.
    Originally posted by enthusiasticsaver
    Not sure how I've coped. The twins are coming up to 1 this Saturday. Genuinely can't believe and understand how I've managed the last 12 months. It's been a blur. People often comment on how I'm seemingly coping. But scratch the surface and my hair is greasy from lack of time to shower, my clothes are Unironed, I have so many stains on my clothes from the kids pawing at me and my house could do with a major deep clean.
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) 46444.23
    27263.33/46444.23 58.7% paid
    • Mummy_bear
    • By Mummy_bear 17th Jun 19, 9:18 AM
    • 524 Posts
    • 1,789 Thanks
    Mummy_bear
    All sounding very good.

    Word of warning on the kallax. It looks like a climbing frame to kids and I really wouldn't put the tv on one. I have found it definitely worth it to put my tv up on the wall. We have a corner bracket now and I love it.

    Keep up the great work xxxx
    Originally posted by Kitten868

    Ooops we've bought the Kallax already. Hopefully we won't have issuea with it. The old TV stand we had was quite low and actually it would be a matter of months before the twins climbed on it and pulled TV down etc.I'm hoping they don't decide to climb the Kallax in the future.
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) 46444.23
    27263.33/46444.23 58.7% paid
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