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  • FIRST POST
    • AdventureWanted
    • By AdventureWanted 8th Oct 17, 10:10 PM
    • 503Posts
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    AdventureWanted
    Adventure wanted, but first we must rid ourselves of debt
    • #1
    • 8th Oct 17, 10:10 PM
    Adventure wanted, but first we must rid ourselves of debt 8th Oct 17 at 10:10 PM
    I’ve ummed and aahed about starting a diary on here for a couple of months, but have decided that it is a good way for me to keep track of how our debt reduction is going and hopefully on those dark days when it feels like we’re getting nowhere I can remind myself of how things have improved.

    Anywho, I’ll give a brief overview of our life/debt.

    I’m a Mum to 3 Kids. Hubby is self employed and I Home educate the older 2 Kids. In August I finally had enough of our debts and decided to do something about it. After reading lots of diaries I downloaded ynab and took control of our budget. Our debts are due to a car loan, house repairs and mostly a lack of control over finances so monthly spending got out of control and we didn’t really have much to show for it.

    As at 1 August (LBM) our debts were:-
    CC1 - £5,185
    CC2 - £13,470
    Cc3 - £11,400

    All of the credit cards are 0% and will be balance transferred to new 0% cards if we haven’t paid them off at the end of the 0% deal.

    The future -
    We would love to travel. Firstly we’d love to visit every county in the uk and then travel further afield to the likes of Canada and Australia. Hubby and I regret not taking the opportunities to see the world pre children, but are now very keen to share these adventures with our kids.

    We’d love to move to our forever family home, although we have no idea where in the country this would end up being in!

    And more than those above we’d love to have savings for our children’s futures and not waste the extortionate amount of money we do each month on debt repayments.

    I’ll post my current debt situation post LBM in the next post.x
    LBM Aug 2017. DFD - Dec 2020 / Dec 2021
    CC1 - £0 / £5,185 1/8/17. CC2 - £1,944.00 / £13,470 1/8/17. CC3 - £10,220.00 / £11,400 1/8/17
    CC4 - £12,090.00 / £13,000 20/11/17
    2018 1% challenge - #1 - 50%.
    PAYDBX 2018 - #29 Pd £6,426.60 / £12,500
Page 10
    • savingholmes
    • By savingholmes 19th Feb 18, 8:33 AM
    • 8,955 Posts
    • 17,004 Thanks
    savingholmes
    Remember though - ask your friends if they are in the Nationwide - as you each get £100 for moving account
    Today is a new day £93/310 £10 a day Mar Challenge DFD August 2021
    • AdventureWanted
    • By AdventureWanted 20th Feb 18, 7:30 AM
    • 503 Posts
    • 1,481 Thanks
    AdventureWanted
    Today's pads:
    £5 to CC2.
    £3.67 (topcashback money) to EF.

    Popped to Aldi yesterday for some shopping and was pleasantly surprised with the price. Going to compare my receipt against Tesco to see the difference in price. Luckily DC1 was able to help me pack the shopping yesterday. I am definitely not used to the speed they work at!! DC1 thought it was brilliant!
    • indigowarrior
    • By indigowarrior 20th Feb 18, 10:31 AM
    • 510 Posts
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    indigowarrior
    Caught up! Your doing great!
    #545- SPC/ Frugal Living Challenge May NSD 3/19
    • AdventureWanted
    • By AdventureWanted 20th Feb 18, 7:25 PM
    • 503 Posts
    • 1,481 Thanks
    AdventureWanted
    Thanks indigowarrior.

    Today has been a NSD taking my tally to 8. Not sure I'll make it up to 15, but anything over 10 will be a bonus.

    Hoping the weather is better tomorrow (it rained all day today ) so we can go for a nice walk. Although, even if the weather is pants we could still go as the DC all have waterproof all in ones and wellies, and I have a longish waterproof coat and wellies. Ooh I've just remembered that I bought waterproof trousers in the sale last year which I still haven't worn. There is definitely less motivation from everyone to leave our warm house when it's miserable outside, but I'll have to force us. I always feel so much better once I've had a walk in the fresh air.
    • AdventureWanted
    • By AdventureWanted 21st Feb 18, 7:57 PM
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    AdventureWanted
    Went for a lovely long walk at the woods today with the DC, my mum & her dogs. The rain even stopped whilst we were there. DC1&2 & the dogs had loads of fun charging round the woods and finding large incredibly muddy puddles to walk through (kids) / lay in (dogs). My mum was desperately trying to avoid the lakes at the woods to stop the dogs getting too messy, so it was really funny when we rounded a corner to see one of them laying&then rolling in a rather small muddy puddle. Luckily for me we came in separate cars

    Today has been another NSD. (9/15).
    Managed to round down the bank account sending £6 to CC2. Tomorrow the dd for CC3 comes out, which will be good. CC3 is getting closer to being under £10k. Although saying that it will still take months as the dd is only £120.

    Need to do a food inventory for both freezer & cupboards this week so I can plan meals for the rest of the month. Need to get some more milk & bread very soon, as took last ones from freezer today. I've been thinking about our food shop recently and might try and do one Tesco shop a month for things I can't get at Aldi and bulky items, then do a weekly Aldi shop with DH on his day off. Not 100% sure whether this will end up being money saving (additional fuel driving there, plus having to shop with DH& the DC, rather than me ordering online by myself) but would like to give it a go for a bit and compare shops. Need to look at when my delivery saver subscription runs out at Tesco, as I may as well start it from then.
    LBM Aug 2017. DFD - Dec 2020 / Dec 2021
    CC1 - £0 / £5,185 1/8/17. CC2 - £1,944.00 / £13,470 1/8/17. CC3 - £10,220.00 / £11,400 1/8/17
    CC4 - £12,090.00 / £13,000 20/11/17
    2018 1% challenge - #1 - 50%.
    PAYDBX 2018 - #29 Pd £6,426.60 / £12,500
    • AdventureWanted
    • By AdventureWanted 22nd Feb 18, 9:00 PM
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    AdventureWanted
    £120 paid to CC3 today.

    Today wasn't a NSD unfortunately. Popped in to IKEA to pick up my order which had arrived and spotted a play tent which I thought would be perfect for the garden. So that was £9.95 spent. (This is coming out of the home maintenance pot, as it will improve how we use the garden - planning on putting cushions in it in the summer so the DC can read outside and keep out of the sun). Also, DH had his haircut, so that was £8 spent. Luckily not too expensive a day and all budgeted for. (Well, we hadn't planned on getting the play tent, but we have a set amount per month in the Home maintenance pot which it has come out of).

    Tomorrow I need to buy milk and bread, so will be another spend day.
    • AdventureWanted
    • By AdventureWanted 24th Feb 18, 4:51 PM
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    AdventureWanted
    Today has been another NSD, taking me to 10 this month. Hopefully next month I can beat this. Food shopping has been atrocious this month. Really need to try harder next month.

    Yesterday I paid £5 to CC2 and 39p to the emergency fund.

    Had a long discussion with DH last night about our finances, future plans and his course. Still haven't finished our discussion, so hopefully we will come to a final decision about the course by the end of next week.

    The problem is that I really want to reduce the debts as much as possible this year. DH and I would love to move house in a year or so. Which although we have a very good LTV ratio (about 45%), the debts we have and the fact that DH is self employed would hinder us increasing the mortgage. Fingers crossed the debt will be a lot lower by the end of the year and not such eye watering figures.

    Tuesday is pay day, so I am looking forward to making my final debt payments for the month and doing my month end round up.
    Last edited by AdventureWanted; 24-02-2018 at 4:54 PM.
    • AdventureWanted
    • By AdventureWanted 27th Feb 18, 10:58 AM
    • 503 Posts
    • 1,481 Thanks
    AdventureWanted
    Morning,

    Have been pretty rubbish at updating my diary the last few days. I decided last week that I should do more exercise, so that I not only improve my fitness levels and tone up, but to do something that is for me. Im pleased to say that it's going well so far. It's only 30 mins 3 times a week, but I definitely like having 'me' time, especially when I have my music on and can escape my brain questioning everything!!

    I've made a £4 pad payment yesterday and today is payday so have paid £325 to CC2. It's near enough to the month end to do my debt summary, so...

    Debt at 27/2/18
    CC1 - £0
    CC2 - £4,860 (woohoo its under £5k )
    CC3 - £10,580
    CC4 - £12,480

    Total debt at 27/2/18 = £27,920 (£1,072 paid)
    Total debt at 31/1/18 - £28,992

    Anyway, now off to play in the snow with the DC
    Last edited by AdventureWanted; 27-02-2018 at 11:04 AM.
    • jwil
    • By jwil 28th Feb 18, 2:49 PM
    • 8,504 Posts
    • 26,001 Thanks
    jwil
    Well done on the exercise and getting CC2 under £5k
    "If you can dream it, you can do it". Walt Disney
    • Pauper1
    • By Pauper1 28th Feb 18, 3:17 PM
    • 318 Posts
    • 2,561 Thanks
    Pauper1
    All caught up! You are doing amazingly! My DH isn't quite on the same page as me either and there's so many things where he just isn't very moneysaving - although it's rarely for big expenditure, usually takeaways and coffee shops. But at the moment he is being very persuading that I need a new laptop, as my one is struggling with the increasing processing power demanded of it due to my computing degree. I hope you manage to come to an agreement with your OH, it must be very stressful to not know whether the course is happening.
    DMP start 1st May 2014 - £11,554.25 £39,349.41 Original DFD from Stepchange 6th Sept 2039... Now aiming for Summer 2021
    • AdventureWanted
    • By AdventureWanted 1st Mar 18, 11:42 AM
    • 503 Posts
    • 1,481 Thanks
    AdventureWanted
    Thanks Jwil and pauper1.

    The snow was quite deep yesterday which was good fun for me and the DC. DH managed to get to work ok, as he leaves early (6.30ish) so the roads were still snowy. His work closed early yesterday, which is a relief as he could travel home before the temperature dropped. DH is fed up though as he lost out on 5 hours work, but he can always go extra hours another day to make it up.

    There hasn't been any more snow today, but the roads are pretty awful in places. The kids climbing and swimming lessons for the day have been cancelled, which is a relief (I hate driving when it's icy). Will get a refund of about £6 from climbing at some point, and haven't had to pay the £28 for the swimming lessons. Once I found out it was cancelled I transferred the £28 to CC2. Really hoping tomorrow's tennis lessons are cancelled, as can't see the roads improving that much and it is always nice to get a bit of money back!!

    In other news... DH has decided to do the course. I have had so many discussions with him about it, but ultimately we have different opinions regarding debt. He doesn't see a difference between borrowing now and paying it back later compared to saving for 6 months and then paying for it. I can understand why he wants to do it, as it will mean career progression and the course is local (usually they would involve being away for the 6 weeks) so he will save money on hotels and see us everyday for a bit, also his work are allowing him to come into work for a few hours every evening after the course, so he'll earn some money. I've kind of come to terms with it, although as it is ultimately a business debt i won't be adding it to my debt figures. I'm just going to carry on and try and reduce the debts as much as possible.

    I need to be a lot better with money this month, mainly on food shops. Our fuel bill was higher last month as we had a 10p off a litre voucher and filled the car up completely, whereas I usually only put £40 in. Hopefully the fuel will be less this month, especially as I haven't driven to all the groups this week. I am still unsure how on earth I managed to spend so much on food last month, especially as our freezer is fairly empty. I really need to get more organised and actually start meal planning and not just thinking about doing it! When DH starts the course at the beginning of April I won't have any business money to rely on if the budget gets too tight, so really need to be very disciplined.
    • Storm89
    • By Storm89 1st Mar 18, 12:01 PM
    • 481 Posts
    • 846 Thanks
    Storm89
    Hi you're doing really well . Food is so hard to budget for , especially when you've had half term and snow days when the kids eat you out of house and home. Regarding the course you'll just have to pay it off over the 6 months using the money you would have put towards saving for it. We've had none stop snow today it's so annoying now.
    • AdventureWanted
    • By AdventureWanted 4th Mar 18, 6:28 AM
    • 503 Posts
    • 1,481 Thanks
    AdventureWanted
    Tennis lessons for DC1&2 were cancelled on Friday (thank goodness!), so we should be getting a refund for this at some point. On Friday we walked to our local shop, which the DC loved. DH took DC1&2 in the sledge and I pushed DC3 in the pushchair. Was a really lovely walk - very pretty with all the snow and was a relief having the DC in the sledge rather than walking, as they cannot help themselves but skip or run!

    Yesterday was the first NSD of the month (1/15). We had fresh snow Friday night, so the DC & I managed to finish building our snowman. We couldn't get any stones to stick, so the kids painted a face and scarf on using food colouring.
    Yesterday I rounded down the bank account sending £2 to CC2. Have transferred money to the savings accounts as well. Have got my car service and mot this month, so I'm really hoping I have enough money saved for this in my car account.

    Emergency fund is up to £826.29.
    Last edited by AdventureWanted; 04-03-2018 at 6:32 AM.
    LBM Aug 2017. DFD - Dec 2020 / Dec 2021
    CC1 - £0 / £5,185 1/8/17. CC2 - £1,944.00 / £13,470 1/8/17. CC3 - £10,220.00 / £11,400 1/8/17
    CC4 - £12,090.00 / £13,000 20/11/17
    2018 1% challenge - #1 - 50%.
    PAYDBX 2018 - #29 Pd £6,426.60 / £12,500
    • jwil
    • By jwil 5th Mar 18, 1:40 PM
    • 8,504 Posts
    • 26,001 Thanks
    jwil
    Well done on the emergency fund!
    "If you can dream it, you can do it". Walt Disney
    • savingholmes
    • By savingholmes 6th Mar 18, 7:12 AM
    • 8,955 Posts
    • 17,004 Thanks
    savingholmes
    Sounds like you are doing well to me. Jealous of all your snow. We had some but not enough for DD to have time off school.

    I appreciate the career loan debt is frustrating when you are trying to repay debt but if it genuinely will help him earn more later it is an asset. I would differentiate it in your head from fritter spend... and not see it quite as negatively.

    I spent £700 on a course once that gave me an £8K payrise - and then managed to reclaim the £700 as well when I got promoted.
    Today is a new day £93/310 £10 a day Mar Challenge DFD August 2021
    • shreya
    • By shreya 6th Mar 18, 7:40 AM
    • 8 Posts
    • 12 Thanks
    shreya
    I’ve ummed and aahed about starting a diary on here for a couple of months, but have decided that it is a good way for me to keep track of how our debt reduction is going and hopefully on those dark days when it feels like we’re getting nowhere I can remind myself of how things have improved.

    Anywho, I’ll give a brief overview of our life/debt.

    I’m a Mum to 3 Kids. Hubby is self employed and I Home educate the older 2 Kids. In August I finally had enough of our debts and decided to do something about it. After reading lots of diaries I downloaded ynab and took control of our budget. Our debts are due to a car loan, house repairs and mostly a lack of control over finances so monthly spending got out of control and we didn’t really have much to show for it.

    As at 1 August (LBM) our debts were:-
    CC1 - £5,185
    CC2 - £13,470
    Cc3 - £11,400

    All of the credit cards are 0% and will be balance transferred to new 0% cards if we haven’t paid them off at the end of the 0% deal.

    The future -
    We would love to travel. Firstly we’d love to visit every county in the uk and then travel further afield to the likes of Canada and Australia. Hubby and I regret not taking the opportunities to see the world pre children, but are now very keen to share these adventures with our kids.

    We’d love to move to our forever family home, although we have no idea where in the country this would end up being in!

    And more than those above we’d love to have savings for our children’s futures and not waste the extortionate amount of money we do each month on debt repayments.

    I’ll post my current debt situation post LBM in the next post.x
    Originally posted by AdventureWanted
    I felt the same way a few years back. Drowning in debt i was almost reaching an inevitable end. I thought i was at rock bottom. I though I might as well try investing because i have nothing left to lose. Gradually i got a few profitable shares here and there and now finally i am debt free. Today my bank balance is finally on the positive side!
    • AdventureWanted
    • By AdventureWanted 6th Mar 18, 8:26 AM
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    AdventureWanted
    Managed another NSD on 4th (2/15). The snow melted within a day at ours, which was really surprising. In the morning our road looked awful - covered in ice and our garden was still full of snow. By lunchtime half of it had gone and then it started raining which cleared the lot. Must admit I am pretty pleased it has gone. Was starting to get cabin fever!!

    Yesterday we went to DC3s swimming lesson, which was brilliant. Then popped to our local garden centre for a coffee and scone, before heading to toys r us to see if there were any bargains to be had now they are closing. It's such a shame it's closing as I remember going there as a child and spending birthday money and my DC loved having a look round too. We were looking for new bikes for DC1&2 as they have both outgrown their bikes, but they were still more than we wanted to spend (25% off, so would have been around £80-90). Think we'll keep an eye out for a secondhand one or see if they have any left when the prices are reduced more.

    I've been updating ynab today and have rounded down my bank account sending £3 to CC2.

    Since DH has agreed to go on the course I've been feeling a bit 'meh!' about the debt busting. Not in terms of spending loads, it just feels like it's never ending and that I'll never get to the end of the pile of debt! I guess I should just continue working on my £12,500 debt payment target for the year and not worry too much about the additional expenses, but it's so hard.
    Course starts the first week in April. I think I'm apprehensive about how it will affect us. DH will be doing the course Monday to Friday and then going into work after the school day has ended, so for me and the DC it may feel like a LONG month, where we only see him at weekends. I know for most this is normal, but DH has always worked shifts, so although he works long days (12hrs) and DC3 doesn't see him, he usually has 3-4 days off depending on how many extra days he works.

    Today we are off to my parents house for lunch, which we are all really looking forward to. Hope everyone has a good day.
    • AdventureWanted
    • By AdventureWanted 7th Mar 18, 6:38 AM
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    AdventureWanted
    Yesterday was a NSD. Me & the DC met my parents for a walk at the woods, before going round theirs for lunch. Was lovely spending the day with them. The DC adore spending time with them. My dad hasn't been overly well for the past few years, so I love being able to spend as much time with them whilst I can. (I know that sounds really morbid!)

    Was talking with my dad about pensions today (he can claim his this year) and it really has made me think that I need to get rid of the debt as soon as possible and be better saving, etc. I'm only mid 30s, but looking at my dad delaying retiring as they would have a shortfall at the moment is worrying. Luckily DH and I do put something in a pension and hopefully in the future when we are debt free we can look into it more. Just wish we were financially better off now so could help my parents out. Their finances are pretty dire after their business struggled during the recession and finally had to be closed leaving them with lots of debt. That being said they most probably wouldn't accept help anyway...

    Today we are off out with friends, so need to be organised this morning. Definitely need to get dinner in the slow cooker before we leave, as that will save loads of time later.
    • AdventureWanted
    • By AdventureWanted 7th Mar 18, 7:10 AM
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    AdventureWanted
    Have just checked my bank account and sent £27 to CC2 and £1.08 to the EF.

    Debts at 7/3/18-
    CC1 - £0
    CC2 - £4,800
    CC3 - £10,580
    CC4 - £12,480

    Total debt - £27,860

    EF - £827.42
    • jwil
    • By jwil 7th Mar 18, 1:37 PM
    • 8,504 Posts
    • 26,001 Thanks
    jwil
    Glad you had a nice day yesterday. Good thinking to focus on your debt target for this year and not worry about the overall total. If you can pay off £12.5k in a year, that's a massive result
    "If you can dream it, you can do it". Walt Disney
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