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  • FIRST POST
    • MrsSave
    • By MrsSave 30th Jul 17, 7:22 AM
    • 1,512Posts
    • 4,821Thanks
    MrsSave
    Mrs S, family life and debt
    • #1
    • 30th Jul 17, 7:22 AM
    Mrs S, family life and debt 30th Jul 17 at 7:22 AM
    This is my 4th diary. I'll link the others in case anyone has absolutely nothing to do and fancies a read!

    Diary 1: MrsS is getting serious http://forums.moneysavingexpert.com/showthread.php?t=5045594

    Diary 2: Debt free before 35 http://forums.moneysavingexpert.com/showthread.php?t=5286098

    Diary 3: A pound stretching maternity
    http://forums.moneysavingexpert.com/showthread.php?t=5495440

    So, who is Mrs S?

    I'm in my mid early 30's and a mum to 2 lovely little boys. My second maternity leave is just coming to an end (sob). I'm a teacher but looking for a career change. I mentioned this career change back in diary 1, but I'm finally doing something about it. I have 2 job interviews next week and I'm still searching and applying for others.

    Debt

    I guess I wouldn't be starting a new diary if I didn't have any debts. Maternity leave and retraining has meant that the debt we had beforehand has increased. Significantly. I'm gutted, but from the retraining side, I just had to do it. Today, our debts stand at:

    Loan: £9,906.30
    Credit Card: £6,480.60

    We also have a mortgage of £92,720.52

    Excluding the mortgage, our current debt figure is £16,386.90. That's massive.

    So what are we doing about it?

    Not adding to it any more, that's to start! The problem is that a lot depends on whether I find work quickly. In an ideal world I will be working by September (even if it's something unrelated to what I actually want to do, as we need a second income).

    Using YNAB. I've used YNAB for a few years now, and love it. It's so clear in showing how much money we actually have, and splitting it between different pots.

    Paying £266.40 towards the loan every month, and around £65-£70 towards the card. The card is a very recent balance transfer, so not 100% sure on exact figures yet, but 1% is the minimum balance. I'm not sure whether to stick with the minimum, or a set amount each month. The set amount won't be much higher than the minimum, but obviously won't decrease every month. Possibly £65 per month. That means we will be paying £331.40 towards our debt each month. At this rate it would take 50 months to clear. 4 years, 2 months.

    Budgeting and treats

    I allow treats. They're budgeted for. I would fall flat on my face if we weren't allowed our treats. We do have little breaks away sometimes (not abroad, we haven't been abroad since our honeymoon). We save for them, though and pay with the money we have and not add to the debt. We have the odd takeaway and meal out, we have days out. I treat the boys on their birthdays and Christmas. I have this year started paying into Park for Vouchers in time for Christmas. I've budgeted for that every month.

    We put money into our car pot each month for the MOT and any extras it needs. Our car is 12 years old, and up until recently hasn't needed anything doing to it. A couple of little things are starting to need changing now so I'm hoping we'll have a few more years before the car get sorted too expensive. I do love my car! It's nothing special, not fancy and was cheap to buy with low mileage (we've had the car about 5 years).

    Right, I've probably bored anyone who's reading this enough for a first 'All about me' post.
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
Page 23
    • MeandO
    • By MeandO 30th Jan 18, 9:29 AM
    • 1,394 Posts
    • 6,753 Thanks
    MeandO
    That is great news, well done! Being debt free will only make things easier.

    I don't know if you have one near you, but I've bought quite a lot of paint/wallpaper from Home bargains & B&M before. May be useful if you're thinking of re-decorating.
    Mortgage Feb 2015: £102,000 Mortgage now: £76,535
    2018 OP's: Jan:£129.26 Feb:£287 Mar:£150 Apr:£157.31 May:£164.19
    Emergency Fund: £850/£5000
    • MrsSave
    • By MrsSave 1st Feb 18, 7:05 AM
    • 1,512 Posts
    • 4,821 Thanks
    MrsSave
    That's a good idea MeandO. I find Wilko's pretty good value too (I spend a fortune in that shop!!).

    The boys were with MrS overnight and are again tonight. It's my couple of days to get jobs done!!! I am going to wash my bed clothes today. I'll set a time on the machine so that it finishes just as I'm due home from work.

    To add to everything that's been happening, a close family member is pretty poorly in hospital. I spent a lot of Tuesday there, was there after work last night and will be going in tonight again. I must admit that MrS has been great throughout. He left work mid morning on Tuesday to come and look after ds2 so that I could go into the hospital.

    1st Feb so a few bills out today. One didn't go out, so that will probably be in the next day or 2. I keep checking the credit card account and the balance is now just what this month's direct debit will be. I am so excited about being able to see a £0 balance and know that other than the mortgage I'm debt free

    Savings are ok as well. I have premium bonds of £2000 (which I'm calling the not to be touched fund!!) and almost £50 in the redecorate the boys' rooms account. I'll hopefully be able to build on that £50 over the next few months. I can't wait for them to have nice, newly redecorated rooms.

    I have just over £40 left to last until Sunday night with no planned expenses. The food shop has been done (need to meal plan for next week) so may treat my eldest to a chippy tea Friday after swimming. For the 2 of us, it'll only come to around a fiver. I do need to buy new shoes for ds2 at the weekend (his first proper shoes!!) but have budgeted for that separately.
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
    • Purplemumof2
    • By Purplemumof2 1st Feb 18, 11:12 AM
    • 6,070 Posts
    • 22,304 Thanks
    Purplemumof2
    Congratulations on being debt free xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £6350.00 Cap 1: £407.72 BC: £6224.59
    AFD xxx LTW 4/17
    POAMAYC 2018 #041 PD £5970.32/£7000
    Savings for Christmas £161.42/£365
    20p Savers 2018 £2 Savers 2018 50p Savers 2018 SPC 11 2018 #003
    • MrsSave
    • By MrsSave 2nd Feb 18, 7:05 AM
    • 1,512 Posts
    • 4,821 Thanks
    MrsSave
    I ended up spending £9.99 yesterday thanks to mse!!! I was reading the email and saw the gusto offer. 3 meals for 2 people for £9.99. That will last me and the boys most of next week!! One nigh of the week is a very quick something on toast night, 2 nights they'll be eating at Mr S' and the other night is usually either chippy or something from the freezer night. The nights they're not with me I usually throw something together quickly. This means I'll need very little for next week's food shop, just things like milk and fruit. I'll cancel the subscription once it arrives on Monday!

    Other than that I had no Spends yesterday. I've checked the bills account this morning and 2 more have gone out including the one that was meant to yesterday. I've updated ynab. Also, my first child maintenance payment has come in today.

    One more day of work and then it's the weekend I have a few household jobs to do, but not too many. I did quite a bit yesterday after work - I ironed everything I could, washed and dried my bed clothes, cleaned the downstairs toilet and emptied the bins. I need to give the bathroom a clean, clean the patio doors (child handprints over it......again!!!). And push the hoover around.
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
    • MrsSave
    • By MrsSave 4th Feb 18, 8:18 AM
    • 1,512 Posts
    • 4,821 Thanks
    MrsSave
    Happy to say that today I cleaned the bathroom, cleaned the patio doors and hoovered!! I've also done 2 loads of laundry. I wrote a list at the start of the week of jobs I needed to do this week, and I've got 2 left. Sort house insurance and sort ds2's sock drawer!!! His sock drawer is full, but he only has a few pairs that actually fit him!

    I've written next week's list, that starts Monday. Money wise, I've had a few spends today. Ds2 got his first pair of proper shoes, and I got what was needed for ds1 for World Book Day.

    Well I started dozing typing that, so I put the iPad down, went to sleep and now it's tomorrow I actually slept until 7:30 this morning, and have already sorted ds2's sock drawer out! My next job is house insurance and then I've done all my jobs (until tomorrow's list starts!!!). I am going to have a lazy day then until my boys come back tonight.
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
    • louby40
    • By louby40 4th Feb 18, 7:25 PM
    • 1,355 Posts
    • 3,680 Thanks
    louby40
    Hope youíve enjoyed your day. Iíve been very lazy and not done much bar the usual hoovering and ironing.
    • MrsSave
    • By MrsSave 4th Feb 18, 9:22 PM
    • 1,512 Posts
    • 4,821 Thanks
    MrsSave
    Days of doing nothing (other than the usual few jobs) absolutely fly by!!! Tomorrow I have a new list of jobs waiting for me (and it's longer than last week's!!! :eek ). It's also food shopping day and new money week. I've got £67 to last the week. The food shop shouldn't be too expensive tomorrow as I've ordered the gousto delivery. That will be cancelled once the delivery arrives, but will feed us for most of the week. The food shop will be the usual fruit, milk, veg and salad along with a few extra bits. I'll start at Aldi and then pop to Tesco.

    I'm also going to put £20 worth of petrol in the car, which fingers crossed will last the week. I did the same last Monday. I found a cheaper home insurance quote than the renewal price so I've joined up for that and will phone to cancel the renewal tomorrow. They weren't open today for me to phone. I thought all companies had a call centre open on a Sunday!!
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 5th Feb 18, 5:33 AM
    • 1,320 Posts
    • 6,147 Thanks
    wishingthemortgaheaway
    All sounds like you are in control.
    How are the boys getting on?
    How are you doing?
    The 100 payment countdown (each payment = £400) 2018 Starts at 13/100 o/s £34,750.
    Jan 18 14/100 Feb 15/100 March 18/100 April 19/100
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 £1600ish/£2,500
    • MrsSave
    • By MrsSave 7th Feb 18, 12:46 PM
    • 1,512 Posts
    • 4,821 Thanks
    MrsSave
    Thanks wishingthemortgageaway. I'm doing ok, and the boys are doing so well. I'm so proud of them.

    I've been hit done by bugs this week. Been fighting some virus off all week. I've been feeling so yuck, it's taken me until today to check my credit card account and see my balance of £0!!! I'm officially (other than the mortgage) debt free. It's such a good feeling. It's a bit like step one of the rest of our lives.

    I have, between naps , worked out roughly how much I spend on the boys clothes for a year. Even with taking things like ds2 having a lot of handmedowns from ds1, and only shopping at supermarket prices, I was putting to one side around half of what is actually needed I've gone through my budget and included the correct amount today. Ds1 is ok for clothes for a little while. Ds2 won't be long before moving to the next age, so my first step is to bring down ds1's old clothes from the attic and see what else is actually needed. I'm hoping there'll be a good clothes offer somewhere by the. So I can get a discount
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
    • JoJoC
    • By JoJoC 7th Feb 18, 3:46 PM
    • 1,784 Posts
    • 6,527 Thanks
    JoJoC
    Hooray! Well done for being debt free!

    I'm really interested in how you pulled together a budget for a year's worth of clothes for your kids. I'd like to be able to estimate this but find it hard to know where to start. For example, two years ago, my youngest son got loads of clothes for his birthday and we hardly had to buy anything. Last year he also got loads of clothes but because he has a July birthday, most of it was summer clothing so come September we had to spend quite a bit to get him clothes that he needs. I find it hard to predict!

    Interested in your methods to see if I can more accurately estimate.
    CC1: £4481.14/ £5031.14 (12% paid off, £600) | CC2:£3307/ £3807 (14.4% paid off, £550) | Loan: £10,528.20/ £15,792.30((33% paid off, £5,264))

    July debt total: £24,630.44 | New debt total: £18,316.34 | Total debt paid: £6,414.10 (26%)
    *My debt busting and savings diary*
    • MrsSave
    • By MrsSave 7th Feb 18, 6:22 PM
    • 1,512 Posts
    • 4,821 Thanks
    MrsSave
    I basically worked out what they would need for the whole year (I budget uniform/school shoes and coat separately). How many pairs of jeans, joggers, t-shirts, jumpers, underwear, coats, socks, wellies, trainers, winter shoes, summer shoes, etc etc. I then used asda/Tesco for a rough price idea and worked out from there. I divided the total by 12. For ds2 I split the total in half first as he'll be getting handmedowns. I figured I'd rather put too much into the budget, and at the end of the year if I have money left over due to others buying clothes for them, then that money will be sent elsewhere (holiday, treat, savings, etc). It's a massive estimate but I think I was massively underestimating before.
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
    • MrsSave
    • By MrsSave 8th Feb 18, 8:38 AM
    • 1,512 Posts
    • 4,821 Thanks
    MrsSave
    I think being by myself with the the children means I'm stricter with money. I don't have anyone to fall back on if it has all been spent. I saw a lovely pair of trousers for ds2 yesterday online. I checked the price, then checked ynab. I didn't have enough in that pot to cover them so I shut down the page and am not buying them. I may get them at a later stage when there's money there, but they're a want not a need.

    Also, I don't eat out anymore. Eating out when it's just you and 2 young children is totally different to eating out as a family.

    Feeling yucky again today. There is a lot going around of bad throats and coughs, and think I've joined the bandwagon with everyone else. On the plus side, I've lost a few pounds this week

    I need to sort out next week's meal plan at some point, and make sure I have everything I need for Shrove Tuesday!! I also need to give the house a bit of a clean - I've done the bare minimum this week as I've not been feeling 100%. The laundry is done, it's tidy here but I could do with pushing the hoover around and a couple of other jobs.
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
    • JoJoC
    • By JoJoC 8th Feb 18, 10:32 AM
    • 1,784 Posts
    • 6,527 Thanks
    JoJoC
    Thanks for the insight MrsSave - that's definitely a good starting point and something I'll maybe try to tackle tonight. I also have two boys (2.5 years apart) so we're already seeing the benefit of hand-me-downs. I just saved myself £20 by donating a pair of converse that my oldest son grew out of really quickly - a quick spin in the washing machine and they were as good as new.

    I have two big bags of clothes in the cupboard that my eldest has outgrown but my youngest hasn't grown into yet so I know that we're well set up for him. And now my eldest is at school, he doesn't need nearly as many clothes! He used to need at least 10 pairs of trousers/ jeans because he'd have at least one pair on at nursery every day but now he has a school uniform, it's just joggers after school and nicer clothes for the weekend. Not as painful cost-wise.
    CC1: £4481.14/ £5031.14 (12% paid off, £600) | CC2:£3307/ £3807 (14.4% paid off, £550) | Loan: £10,528.20/ £15,792.30((33% paid off, £5,264))

    July debt total: £24,630.44 | New debt total: £18,316.34 | Total debt paid: £6,414.10 (26%)
    *My debt busting and savings diary*
    • MrsSave
    • By MrsSave 8th Feb 18, 1:49 PM
    • 1,512 Posts
    • 4,821 Thanks
    MrsSave
    I've meal planned for next week and started to plan activities for half term. Other than that I've dozed and read diaries!

    I'm trying to budget as well as I can at the moment for half term and for a meal out I've got with friends in just over a week. I've got around £25 left this week so will take £10 of that out. I'll add that to the £10 I already have in my purse. That'll be £20 towards half term activities. If I can add a little more the following week I'm hoping that we'll manage to do something nice. For the meal out, I have Christmas/birthday money left so the money will come from there.

    Ds1 loves trains. I may change some Tesco vouchers for red spotted hanky vouchers to use for tickets and we'll travel somewhere on the train and then have a day out.

    JoJoC I notice that with my eldest whilst doing the washing - all he really wears now is school uniform. He always comes home with lunch down his front, so rather than changing him he stays in it until bedtime! Just weekend clothes to think of!
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
    • enthusiasticsaver
    • By enthusiasticsaver 8th Feb 18, 2:07 PM
    • 6,385 Posts
    • 13,110 Thanks
    enthusiasticsaver
    Well done on getting debt free. Sounds like you and your boys are doing ok after the split. Hope you feel better soon.
    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
    • MrsSave
    • By MrsSave 8th Feb 18, 10:20 PM
    • 1,512 Posts
    • 4,821 Thanks
    MrsSave
    The positives about not feeling well: not spending money and not using petrol!! I haven't spent any money since Monday Tomorrow should be another nsd, and then it's the weekend The negatives, my ribs really hurt!! I keep needing to cough, but it hurts

    I've not done anything else today. No cleaning or housework of any kind! I will have to catch up at some point! At least it was clean and tidy at the start of the week so it's not too bad now!!!

    I've started to think about overpaying the mortgage, but don't want things to get too tight either. With my current mortgage, for the next 4 years I can only overpay by 10%, which is less than £50 a month, so I may look to do that. It will all help in the end.
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
    • MrsSave
    • By MrsSave 8th Feb 18, 10:45 PM
    • 1,512 Posts
    • 4,821 Thanks
    MrsSave
    Ignore that last bit about the mortgage - it's not 10% off what I already pay each month, it's 10% of the remaining balance over 12 months. I definitely don't need to worry about overpaying that!! That's currently an overpayment of around £770 per month I will look at making some kind of overpayment each month though. Will work it into my budget.
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
    • MrsSave
    • By MrsSave 10th Feb 18, 1:48 AM
    • 1,512 Posts
    • 4,821 Thanks
    MrsSave
    Today hasn't been a nsd. I bought myself a bottle of my favourite wine. It's from M&S and twice the price I usually spend. It came out of personal money, and will last a few nights (I definitely can't drink as I used to be able to!!!). The last time I bought a bottle of this favourite wine was a few months ago.

    I can't believe it's the weekend already. I've got around half my chore list left to do as I've been ill. I don't think I'll manage it this week so will just add the unfinished ones to next week's list.

    I have a couple of planned Spends tomorrow. I need to pay for ds1's next set of swimming lessons. That money has already been put to one side. I also am going to treat ds1 to a new reading book. He is coming along amazingly with his reading and I just want to keep the interest there and reward his hard work. I bought him a few reading books before Christmas that were too difficult on purpose. I wanted him to be able to just have a look at a page every now and then with me or Mr S and maybe attempt a new word. He loves a challenge. I remember straight after buying them he wanted to hold the books in the car on the journey home. He sat and read through a few of them, reading out a couple of brand new words in the car. This was around 6 weeks ago and he has this week brought home one of the same books from school as his reading book and has read it word for word. Last week he jumped 3 levels, this week he's moved to a new series. He loves reading so much, always has loved books, so I'm more than happy to buy a new one for him as a treat every now and then. We do make use of the library from time to time as well.

    I'm also cooking a roast this weekend for the boys. They're not usually with me on a Sunday so I haven't managed a roast in a few weeks. Well I forgot to take the meat out of the freezer!!! It won't defrost in time now so will pick up a small chicken or something for a Sunday.
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
    • MrsSave
    • By MrsSave 10th Feb 18, 1:56 AM
    • 1,512 Posts
    • 4,821 Thanks
    MrsSave
    Oh, and I forgot to mention that I sold a baby item on Facebook today (yesterday now I guess!!). That's £30 in the account. I'm putting it towards a Half term day out with the boys.
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
    • MrsSave
    • By MrsSave 10th Feb 18, 11:16 PM
    • 1,512 Posts
    • 4,821 Thanks
    MrsSave
    Saturday is the most expensive day of the week. I popped into town and spent a fortune Thankfully I'm just about within budget, and my new money week starts Monday. I needed to get a key cut, and ended up getting a spare - £9. Tesco was for meat for tomorrow's roast. Ended up spending pretty much £10. A few cleaning products in Wilko added up and then one books for ds1 turned into a few - 2 Welsh ones, and 5 English ones!! He's reading welsh at the moment, but he has started showing an interest in reading English words so I found a few early reader books reduced to £1 each in the Works.

    I've decided to slow cook tomorrow's meat (lamb - my favourite) so have set the alarm for some ridiculous time to turn the slow cooker on!!! I do have a timer, but I've never used it and don't want the first time to be whilst we're all asleep in case something goes wrong. I've also got potatoes and carrots in the slow cooker. Yum!!
    Mortgage Overpayment (May): £1.14/£20
    Finally debt free (other than the mortgage) - 05/02/18
    Check out my debt free diary 'Mrs S.....life after debt' below:
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