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  • FIRST POST
    • DrSpendLittle
    • By DrSpendLittle 22nd Aug 17, 3:30 PM
    • 580Posts
    • 1,857Thanks
    DrSpendLittle
    Life after Debt - staying accountable and responsible
    • #1
    • 22nd Aug 17, 3:30 PM
    Life after Debt - staying accountable and responsible 22nd Aug 17 at 3:30 PM
    UPDATE / SPOILER ALERT: Go to page 28 / post 552 to fast forward to the result of this particular debt game show



    Original diary name: Reducing Debt: being accountable and taking responsibility

    Hi everyone!

    DFW newbie here! Been a lurker for a while but have been so inspired by reading others' DFW diaries - it's literally all I've done this weekend! - that I decided to take the plunge and join in the fun. Now's the time. Had my LBM a few weeks ago and can't wait to get started

    So, a little about me before I state my financial situation and my goals:
    - a happy, healthy and engaged homeowner
    - settled in my career with a fairly well paid job & annual increment
    - looking at starting a family soon as time is ticking!
    - enjoys sports and the outdoors and a healthy approach to life
    - has just started using YNAB
    - has a 'secret' unsecured debt of just over 10k (2 x cc's)

    About DF
    DF is debt free but doesn't actively save. He seems to spend what he earns which isn't great since we have a tiny mortgage and lowish bills. He had family money passed on to him a few years ago on the advice of his mother's accountants - she would NEVER give it away otherwise. This dosh acts as a financial cushion for him .....and, admittedly, me gosh, it really has meant I've been a wee bit lacking in the old saving malarkey Time to banish this false sense of security!

    About DF and I's financials
    DF and I don't have a joint account. All bills / mortgage come out of his current account except car insurance and broadband/phone which I'm responsible for paying. I give him 465 every month towards bills (includes a deduction for car insurance) and he gives me half of whatever the broadband phone bill is. This arrangement is, on reflection, part of my problem as I have too much 'distance' from the reality of bill payments and direct debits etc etc etc I'm sure you all know the score....

    DF knows I have some debts but isn't really aware of the current status of my 'net worth' He's one of life's worriers so I am taking this DFW journey alone for now. I'm completely settled and happy with this idea and I have been managing it all on my own thus far, so no need to change. I got myself into this situation so I'll be getting myself out of it.

    Why the DFW diary?
    Well, we're thinking of moving home since we could take a few leaps up the ladder. Its time for our dream home. This has caused my LBM. I want my dream home and the only thing stopping me is my poor money management skills! Its also time to move. We've been here a while and have never fully settled.

    My interim goal?
    To clear 4K of debt by January so when we put the house on the market, my debt levels are lower. I obviously also want to make sure we can maximise our borrowing, so I want to demonstrate good money management skills and a good pattern of spending and saving.

    My overall aim
    But, more than this interim goal, I just want to be in control of my money and no longer feel guilty for spending it. I want to save up for things and have that lovely 'I deserve this because I saved for it' feeling when I buy something. I want to be responsible. And, I am here to become accountable.

    My plan of action!
    So....this diary is my way of sharing my story, being accountable for my actions, taking responsibility and doing all this whilst my other half is oblivious!

    I hope you join me on my journey and I look forward to joining you on yours.

    My current financials
    I'll post my current financial situation later today - got some work things to get done before close of play. Its been one of those 'working at home' days which have largely comprised of obsessing over YNAB and lurking on DFW diaries, oh deary me A hint of my procrastinating / self sabotaging ways......

    DSL
    Last edited by DrSpendLittle; 30-03-2019 at 11:53 AM. Reason: Significant moment
Page 30
    • DrSpendLittle
    • By DrSpendLittle 6th Apr 19, 7:45 PM
    • 580 Posts
    • 1,857 Thanks
    DrSpendLittle
    Thanks everyone

    House is perfect and we've offered

    Need to wait until Monday to find out if it is acceptable as EA's closed at midday and they didn't get a chance to speak to the vendor (the EA's did the second viewing. We met the vendors on the first viewing).

    Enthusiastic - we have two cars at the moment and whilst the property is remote, it is near public transport that will take us both to our respective work places, so no need for two cars

    In other news, I did a good supermarket shop and went to B'n'M to stock up on toiletries. No other spends planned in the next week other than fuel and a top up shop.

    DSL
    Debt Free Date: 29th March 2019 | Original Debt: 13,985.17 | Current Savings: 964
    • enthusiasticsaver
    • By enthusiasticsaver 6th Apr 19, 10:10 PM
    • 8,372 Posts
    • 19,183 Thanks
    enthusiasticsaver
    Exciting. Fingers crossed for vendors accepting your offer.

    Running only one car would be much cheaper and if you are on public transport routes to work that is brilliant.
    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
    • PositiveBalance
    • By PositiveBalance 6th Apr 19, 10:46 PM
    • 1,017 Posts
    • 5,378 Thanks
    PositiveBalance
    Ooh, I hope it goes well for you!



    *Crosses fingers and waits for update*
    Original debt to source: 11,640.02; debt repaid: 6771.01 (58%); remaining debt: 5069.01
    0% CC balance: 4999.67 now
    1517.56 (69.65% repaid)
    Emergency Fund (#187): 500/500
    Terrimundi: fleeced!
    • DrSpendLittle
    • By DrSpendLittle 7th Apr 19, 7:47 PM
    • 580 Posts
    • 1,857 Thanks
    DrSpendLittle
    A productive day trying to keep busy. Had a tidy and a sort. Pulled all my spring clothes out and put the winter ones away. I have no where for my big winter coats to go so they will need to stay out and I will deal with them when we move.

    Working from home for most of the next week. Got one big task to clear so it will be nice to focus on that for the week rather than the usual plate spinning.

    Had a NSD today. Will need to do a meat shop at some point this week and a F&V shop from Aldee but other than that, I can't forsee any huge spends. Hoping to keep fuel spends down and tilly tidy what I don't spend this month into savings.

    We have the buyers survey on our property this week so fingers crossed nothing comes up that will have a negative financial impact on us.

    One thing I have been wondering about - do removal companies provide removal boxes for free in advance of the move? Or do they need to be sourced from elsewhere? I guess it depends on the price of removal / choice of company. We are going to pay for a removal company to move us, but I'm keen to get organised as soon as possible as I expect that we may complete fairly soon after exchanging. I won't obviously pack until we've exchanged but it would be good to have a plan and to know what stuff will go into what sized boxes.

    DSL
    Debt Free Date: 29th March 2019 | Original Debt: 13,985.17 | Current Savings: 964
    • PositiveBalance
    • By PositiveBalance 7th Apr 19, 8:54 PM
    • 1,017 Posts
    • 5,378 Thanks
    PositiveBalance
    I couldn't answer the question about whether moving firms provide boxes, but I imagine they charge a pretty penny if they do.


    When I moved I contacted a company that sold boxes in a nearby industrial estate and picked them up myself. They were cheaper than the usual places you might think to ask.


    Do you have such an industrial area near you?
    Original debt to source: 11,640.02; debt repaid: 6771.01 (58%); remaining debt: 5069.01
    0% CC balance: 4999.67 now
    1517.56 (69.65% repaid)
    Emergency Fund (#187): 500/500
    Terrimundi: fleeced!
    • Debsnewbudget
    • By Debsnewbudget 7th Apr 19, 9:38 PM
    • 285 Posts
    • 2,679 Thanks
    Debsnewbudget
    Always had boxes and wrapping paper provided by removal company. They also do hanging boxes so you move your clothes out of wardrobe on hangers, into their box and back out in the new property.
    Ask them how much for them to pack, as last time it was so easy as they packed and labelled all the boxes for us and it didnt cost that much more.
    If you are doing it yourself, The only downside is you cannot start packing early, so maybe some of the banana boxes from supermarkets for books, cds etc.
    You could start to get them now.
    Good luck with everything
    • DrSpendLittle
    • By DrSpendLittle 8th Apr 19, 10:54 AM
    • 580 Posts
    • 1,857 Thanks
    DrSpendLittle
    Thanks folks - good call about them packing. I think we may do that too. I will get some quotes nearer the time and go from there. In the meantime, I will have a good declutter!
    Debt Free Date: 29th March 2019 | Original Debt: 13,985.17 | Current Savings: 964
    • DrSpendLittle
    • By DrSpendLittle 8th Apr 19, 10:59 AM
    • 580 Posts
    • 1,857 Thanks
    DrSpendLittle
    Offer accepted!

    Bit of back and forth negotiation this morning but we agreed on a sale price under the asking price. We are happy with the amount and would have gone a bit higher if the vendor had pushed us.

    Super excited. But also relieved. Happy that (subject to all the remaining hurdles not causing too many problems) we can stitch buying and selling together! It's also a perfect house for us. DF is delighted.

    Now to instruct our current solicitors to deal with the purchase, apply for a mortgage and get a surveyor lined up.

    Busy times!

    DSL
    Debt Free Date: 29th March 2019 | Original Debt: 13,985.17 | Current Savings: 964
    • PositiveBalance
    • By PositiveBalance 9th Apr 19, 5:01 AM
    • 1,017 Posts
    • 5,378 Thanks
    PositiveBalance
    Congratulations!

    I'l say this much, it isn't quiet for long in the Spendlittle household, is it?!

    I hope it all goes smoothly for you.

    I can see you moving over to the Mortgage Free Wannabee board shortly at this rate...
    Original debt to source: 11,640.02; debt repaid: 6771.01 (58%); remaining debt: 5069.01
    0% CC balance: 4999.67 now
    1517.56 (69.65% repaid)
    Emergency Fund (#187): 500/500
    Terrimundi: fleeced!
    • enthusiasticsaver
    • By enthusiasticsaver 9th Apr 19, 8:14 AM
    • 8,372 Posts
    • 19,183 Thanks
    enthusiasticsaver
    Congratulations on house. Fingers crossed for smooth process.
    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
    • enthusiasticsaver
    • By enthusiasticsaver 9th Apr 19, 8:16 AM
    • 8,372 Posts
    • 19,183 Thanks
    enthusiasticsaver
    All the removal companies we have used in the past have supplied boxes. You give them back afterwards. Portable hanging wardrobes too.
    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
    • DrSpendLittle
    • By DrSpendLittle 9th Apr 19, 2:06 PM
    • 580 Posts
    • 1,857 Thanks
    DrSpendLittle
    Thanks all! It hasn't sunk in yet. Still a bit

    Busy day in the office (I brought a packed lunch with me!!) with back to back meetings. Put fuel in the car this morning but I'm hoping that'll be my only spends today. I got meat out of the freezer for dinner before leaving for work and I think we have all the other ingredients needed in the store cupboard.

    Waiting on a Memorandum of Sale before we can progress our mortgage application (we need it as proof of deposit). Hoping to get that soon and then we can get the underwriting process started. The broker has all the other necessary info (statements, P60s etc - I was organised and had all these to hand already) and has just told me that we've passed the initial credit check. So, once we have the MoS, we're good to go! I'm so glad we used a broker and have someone to do all the chasing for us.

    Not sure on spends for the rest of the week. I suspect once our solicitors get their act together on our purchase, we'll need to pay a deposit for the searches. I've read that can be around 300. Other than that, I think just a food shop and perhaps some small social spending this weekend.

    DSL
    Debt Free Date: 29th March 2019 | Original Debt: 13,985.17 | Current Savings: 964
    • SnuggleBuggles
    • By SnuggleBuggles 9th Apr 19, 6:49 PM
    • 35 Posts
    • 93 Thanks
    SnuggleBuggles
    As for upcoming spends, make sure there's some for a celebratory bottle of bubbly, DSL. You both absolutely deserve it.

    Your timing in becoming debt free is impeccable by the way - literally just in time for your new house purchase. How marvellous!
    • DrSpendLittle
    • By DrSpendLittle 11th Apr 19, 10:19 AM
    • 580 Posts
    • 1,857 Thanks
    DrSpendLittle
    Thanks Snugglebuggles!! . Funnily enough, DF mentioned something about taking me out for dinner to thank me for micro managing the finances and sorting the mortgage. I think I'll take him up on that!

    No much to report in other spending news. WFH today and tomorrow so no spends needed. Was in the office yesterday so had petrol spends but I took my lunch in

    We really do need to get a food shop in as we are running very low on things. The freezer is nearly empty so defrosting that is this weekend's job. Finally!

    Still feeling super protective of my money. Looking forward to my first paycheck as a debt free gal. I get to keep every penny of it and decide where it goes! Can't wait.

    Weather is beautiful today, if not cold. Fancy getting out on a walk later. I have some documents to drop off at the solicitors so might take the opportunity to walk there instead of drive.

    DSL
    Debt Free Date: 29th March 2019 | Original Debt: 13,985.17 | Current Savings: 964
    • DrSpendLittle
    • By DrSpendLittle 16th Apr 19, 2:56 PM
    • 580 Posts
    • 1,857 Thanks
    DrSpendLittle
    Not much happening over here - middle of the month slump. Been good on spends recently. Nothing frivolous or indulgent. Still watching guard on my pennies.

    Savings down a little as had conveyancing spends. All expected and doing what its there to do.

    Things moving forward as expected on the house move. Just the usual waiting for one thing to happen before another can etc etc.

    Not sure on plans for Easter. Might go and visit the in laws but its all up in the air at the moment. Weather looks good either way.
    Debt Free Date: 29th March 2019 | Original Debt: 13,985.17 | Current Savings: 964
    • DrSpendLittle
    • By DrSpendLittle 18th Apr 19, 8:12 PM
    • 580 Posts
    • 1,857 Thanks
    DrSpendLittle
    Not sure what I'm going to post but I feel the need to.

    The middle of the month slump combined with the uncertainty / anxiety of house selling and buying has me in a reflective mood.

    I still feel like I'm in debt. It's really weird. It's taking much longer than I anticipated to sink in.

    I think it's just that everything is happening so quickly - in the past 6 weeks I've become debt free, marketed and accepted an offer on our home, gone through the process of viewing various other potential homes, offered on a dream home and had it accepted, applied for a mortgage AND had a manic time at work. I'm just exhausted from it all.

    The ongoing uncertainty is unsettling. I think once we (fingers crossed!) move into our new home, we will have to really indulge in a big fat treat

    We've both bought ourselves a little treat today to keep us going I ordered a new pair of jeans, a sweatshirt and a top (I may not keep them all, let's see when they arrive). DF saw me ordering them online and said he was too going to treat himself to something that he wanted to buy yesterday but that is now half price. He's been very good with saving recently!

    The oven has beeped and dinner is done so I best go and feed DF!!

    DSL
    Debt Free Date: 29th March 2019 | Original Debt: 13,985.17 | Current Savings: 964
    • Honeysucklelou2
    • By Honeysucklelou2 19th Apr 19, 2:02 AM
    • 1,558 Posts
    • 7,797 Thanks
    Honeysucklelou2
    Congratulations on becoming debt free and having your offer accepted. Exciting times!
    paydbx2019 #93 572.38/10,100 .
    School trips 1016/1269..
    EF 210
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 19th Apr 19, 6:00 AM
    • 2,058 Posts
    • 11,195 Thanks
    wishingthemortgaheaway
    DSL, could your feelings of 'this doesn't quite feel right' be because you are still technically living on your 'when I was in debt' budget this month? It's only going to be from the end of April/beginning of May when you get your next pay check and you have 1000 'extra' to budget to savings/things you want to spend on? April is feeling like a very long month (aren't they all?) bit, come May, or even payday you will be in 'post debt budget' and able to think true 'debt free thoughts'

    Wish.
    The 100 payment countdown (each payment = 400) 2018 Starts at 13/100 o/s 34,750.
    Jan 18 14/100 Feb 15/100 March 18/100 April 19/100 May 20/100 June 21/100 Dec: 28/100
    MFW 2019 Challenge Member #59: 0/2860
    • enthusiasticsaver
    • By enthusiasticsaver 19th Apr 19, 7:53 AM
    • 8,372 Posts
    • 19,183 Thanks
    enthusiasticsaver
    I think wishing has a point in that although you are debt free you are having to keep money aside to pay for moving costs etc due to house purchase/sale. You are not yet working to a new budget so any spare cash is going towards moving.
    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
    • liselle
    • By liselle 19th Apr 19, 9:07 AM
    • 33 Posts
    • 65 Thanks
    liselle
    I've moved many times and always use the packers from the removal company, as if anything' s broken,their insurance pays out, no question.They usually arrive the day before the move and will give you boxes if you prefer to pack personal items yourself.And the hanging wardrobe boxes are excellent!
    Very best wishes for the move and many congratulations on being debt-free
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