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  • FIRST POST
    • AdventureWanted
    • By AdventureWanted 8th Oct 17, 10:10 PM
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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 - Oct 2020 / Dec 2021
    CC1 - £0 / £5,185 1/8/17. | CC2 - £0 / £13,470 1/8/17. | CC3 - £9,977.00 / £11,400 1/8/17 | CC4 - £11,830.00 / £13,000 20/11/17
    2018 1% challenge - #1 - 70%. | EF - £1,500.00 / £2,500.00 | PAYDBX 2018 - #29 Pd £8,873.60 / £12,500
Page 14
    • AdventureWanted
    • By AdventureWanted 20th Apr 18, 10:41 PM
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    AdventureWanted
    Another scorcher of a day . Had a brilliant morning reading nature books with the DC in the garden, before taking the DC to tennis lessons. DH popped to the shops on his way home and did a bbq for dinner. I looove bbqs. (Also love not having to cook!!).

    Money wise - The dd for CC3 came out today and we also managed to transfer £75 to CC2. Debt is going down steadily, which I'm quite happy about. The Grocery budget has gone horribly wrong this month. Really need to do better.

    Next month is DC1s birthday, so I need to set a budget for presents and stick to it. He's outgrown his old bike, so hopefully I can find a decent secondhand bike for sale locally. Not sure whether to go with a bmx style or one with gears. A 'normal' bike with gears may take a while to get to grips with, but at some point he'd have to learn how to use them. Hopefully can pop to Halfords to try different sized bikes out soon (but will definitely try and buy a secondhand bike).

    Hoping DH will start building the new decking area this weekend. Fingers crossed the weather stays nice.
    • AdventureWanted
    • By AdventureWanted 25th Apr 18, 6:12 AM
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    AdventureWanted
    Morning,
    It's been a few days since I last posted. DH didn't manage to build the decking at the weekend, as I forgot he was out with friends on Saturday and on Sunday they had a village garage sale which we had a wander round. Managed to get a brand new pair of trainers for DC2 and secondhand Welles (in vgc) for a couple of quid. Both are a bigger size, so won't be used immediately, but luckily DC2 has lots of wardrobe space to store bits.

    Yesterday I paid £14 to CC2 and 81p to debt savings.

    This months food budget has gone horribly wrong. At the beginning of April I tried to follow a new food plan, but we stopped after the first shop, as the food bill was really expensive. It's pretty much this first weeks bill that has caused all the issues. Am going back to my regular meals, meal planning and avoiding small shops (especially sending DH!). Had to transfer the additional money I had spare from swimming lessons to cover it.

    Next month is DC1s birthday, so I need to make sure we pop to Halfords soon to see which size bike to get next. (DC1 is tall and according to Halfords bike size list he could have a 20" or 24" bike, but not sure if 24" would be too huge). Once we've decided on a size I can keep an eye out for a secondhand bike. The bike will be his main present. So far DC1 hasn't got much of a birthday list, which is very strange. It's also not overly helpful, as I'm not really too sure what to buy! TBH I'm not even sure at the moment what is a realistic budget for presents. I had originally planned £100-£150 budget. I need to make sure I don't go too crazy with presents, as I have a large family who all buy for DC1, so he should get lots of presents.

    Will check bank accounts shortly and hopefully pop back with today pad.
    • Storm89
    • By Storm89 25th Apr 18, 6:36 AM
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    Storm89
    Good luck bike hunting AW. I'm also lucky with lots of people in my family to buy for the kids which helps you not to go over budget doesn't it. It doesn't help when you have to buy for them all though on their birthdays haha.
    • AdventureWanted
    • By AdventureWanted 26th Apr 18, 6:45 PM
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    AdventureWanted
    Well I didn't manage to get back on here yesterday. Yesterday I paid £11 to CC2 and today I've transferred £37.50 to CC2.

    Luckily tomorrow is payday, as all of my ynab accounts except for the fuel account are currently empty! Think next month I am going to have to use the £200 I usually put in the EF and split it between clothing and home maintenance. All 3 DC seem to have once again outgrown their clothes at the same time, which costs a fortune. I do save a bit of money each month, but I seem to be spending it immediately at the moment on bits they need. Hopefully the extra bit of money will help. Once I've stocked up on bits for DC1&2 that'll last them for the year. Luckily the majority of DC3s clothes are hand me downs from DC2, so it's only the odd few bits needed.

    Debt summary day tomorrow. Looking forward to comparing the figures with the previous month.
    • AdventureWanted
    • By AdventureWanted 27th Apr 18, 8:58 AM
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    AdventureWanted
    Payday today - hooray!! I've paid £375 to CC2 today. It's £50 more than we usually pay on payday, but DH had some money left in his account, so he transferred some across.

    Debts at 27/4/18
    CC1 - £0
    CC2 - £2,437.50
    CC3 - £10,340.00
    CC4 - £12,220.00

    Total debt at 27/4/18 - £24,997.50
    (Total debt at 29/3/18 - £26,305.00)

    Woohoo it's below £25k!! Still horrendous, but it's definitely a win

    Have paid £5,683.10 towards our debt this year. Can not wait to be debt free and have this money available for other things.

    No additional payments to the EF this month. Balance still sits at £1,031.50.
    Last edited by AdventureWanted; 27-04-2018 at 9:03 AM.
    LBM Aug 2017. DFD - Oct 2020 / Dec 2021
    CC1 - £0 / £5,185 1/8/17. | CC2 - £0 / £13,470 1/8/17. | CC3 - £9,977.00 / £11,400 1/8/17 | CC4 - £11,830.00 / £13,000 20/11/17
    2018 1% challenge - #1 - 70%. | EF - £1,500.00 / £2,500.00 | PAYDBX 2018 - #29 Pd £8,873.60 / £12,500
    • Storm89
    • By Storm89 1st May 18, 9:37 AM
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    Storm89
    I really enjoy checking my favourite diaries at the end of the month - can see how it's going down!
    I hear you with waiting to be debt free. Every month when you pay £100s towards the debt it stings like hell that it could be used elsewhere , I think it's that feeling that will help us not get into the debt mess again.
    • JoJoC
    • By JoJoC 1st May 18, 9:58 AM
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    JoJoC
    Well done on getting below £25k! Every bracket that you come down is a win

    I feel the same at the moment with the kids constantly needing stuff - last month it was trainers x2 for the both of them, this month it'll be jeans and possibly school trousers for DS1 as he's growing like a weed at the moment.

    Good idea to sacrifice this month's EF to get back on an even keel. You've got a decent amount in there, so I don't think one month will be too bad.
    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*
    • AdventureWanted
    • By AdventureWanted 4th May 18, 9:17 PM
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    AdventureWanted
    I seem to have lost my debt busting mojo at the moment . I'm not spending lots which is good, just seem to have lost any enthusiasm for checking bank accounts, making pads or thinking about debt balances.

    In fact, life has seemed pretty meh the last couple of weeks. Think DH having less days off and us going out on the days he is at home has meant very little help for me. Thankfully we've got 3 days together this bank holiday weekend, so I'm hoping to get a bit of time to myself (which I presume is the main reason I feel a bit meh! I adore my kids and love Home educating them, but at times it's hard being on constant call).

    Anyway, back to the small debt busting I actually did today. I updated ynab and rounded down the bank account sending £9.50 to CC2 and 85p to debt savings. I need to either transfer the debt savings to the variable rate part of our mortgage soon or pay off CC2.

    We went to Halfords last weekend and DC1 tried out lots of bikes. Turns out it may not be as straightforward as I first thought. DC1 needs a 24 inch bike, but as kids bikes are based on wheel size, all of the frames are different sizes. Out of the 5 bikes we tried, only 2 were suitable (others were too small). Guy at Halfords concerned me by saying we need to make sure it's not too big a bike, as when using gears for the first time he's likely to come off it! Might try and get a bmx instead. Have looked at gumtree, but there aren't loads of bikes about. Don't really want to spend £120 on a new bike, especially as both DC1 and DC2 need new bike helmets.

    DH has been talking about work tonight, which has been utterly depressing. The course he's currently doing will mean the opportunity to change his job slightly, which he's keen to do, but will either mean he has to work away or we have to move away. Whilst I'm keen to travel in the future, I had envisioned a 6 month stint in Australia, rather than moving to the other side of the country perhaps permanently. I'm quite content at the moment with my local support network and am not sure I fancy giving it all up.

    Tomorrow I need to nip to sports direct to search for bits for DC1s birthday. Have decided to put together an adventurer type backpack for when we go out for walks. Going to get a couple of usborne spotters guides (birds and bugs), as well as compass, torch, sketch book and pens or watercolours or pastels. Have got a voucher for sports direct, so hoping to get the compass and torch tomorrow. Possibly a hiking type backpack too.
    • AdventureWanted
    • By AdventureWanted 5th May 18, 4:52 PM
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    AdventureWanted
    What a glorious day today. I love sunny days, they definely make me happier.

    We've had a productive day today. This morning we managed to get some bits for DC1s adventurer backpack. Only spent £4.69, as we had a credit voucher to use. DH bought tennis rackets for me & DH, so we can have a quick practice whilst the kids are at tennis lessons. We get free tennis court hire as part of DC1&2s lessons, so we thought we should finally use it. Have booked a court for next Friday. Obviously how much we play depends on whether DC3 is napping in her pushchair at the time. Will be nice to do something for us for a change.

    We've spent all afternoon in the garden, which has been lovely. DH put up our old hexagonal gazebo, so that the kids can have some shade. We've decided we're going to try and sell this gazebo, as it's massive and buy a rectangular pop up gazebo instead. After dinner I'm going to quickly tidy the garden and then take photos of it.

    DH started building our new decking area today, which will be brilliant when it's finished. He's got to pop to b&q tomorrow for a new drill bit, so I'm hoping he can control himself and only buy what is on his list!

    We're collecting DC1s birthday present tonight that we've bought from gumtree. Really looking forward to getting it, as know he'll love it. Fingers crossed it's complete and in good condition. The new playmobil castle set we've bought comes with dragons (which he loves) and is A LOT smaller than the playmobil castle set we currently have, so our current castle set will be making its way to gumtree of eBay very soon.

    Need to have a review of birthday purchases soon, as I need to make sure I keep an eye on the amount we've spent. I do have a tendency to go a bit overboard on presents, so this year I'm really trying hard to stick to a budget.

    Anyway best go now, as we're having a bbq soon and I need to finish making some potato salad.
    • AdventureWanted
    • By AdventureWanted 5th May 18, 7:22 PM
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    AdventureWanted
    I've just made a £28 payment to CC2, which takes the balance to a nice rounded £2,400. Also transferred 41p to debt savings. Still haven't managed to transfer the debt savings to the mortgage, as I can't find my hsbc pin thing, so can't set up a new payment.

    When DH collected the present for DC1 this afternoon he had to take some cash out. He took it out using our credit card rather than our joint account. Have absolutely no idea why he did it. He was quite surprised by the look of horror on my face and when I told him we'll get charged £3 for it he didn't seem overly bothered . Hopefully he won't do it again.

    DH has an email through earlier about car finance and was telling me how he could most probably afford £140 a month for a new car! I've told him we definitely cannot, that he obviously has too much spending money and that I'll have the £140 for the CCs. For the time being he's decided to make a monthly dd payment of £20 to our variable part of the mortgage, starting next month. This will mean each month we pay £30 towards the balance, with £10 covering the interest. Still will take an age to clear the £3k balance, but is a definite improvement. Going to try and persuade DH to either download ynab and set up his own budget under my account or download a free spending tracker, as he is terrible with money. He admits that he isn't great with money and has no idea where the majority of his money goes. He gets £180 a month spending money and he never has any leftover. He will pay for the odd coffee shop/meal out for us as a family (at an absolute max it's £50 every few months), but the whereabouts of the remaining money is a mystery to us both! Hoping that by tracking his spending he may have some leftover and can throw an extra £50 or more at the CCs or mortgage each month. That being said I am pleased he has offered to pay extra off the mortgage.
    • jwil
    • By jwil 6th May 18, 3:57 PM
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    jwil
    Sounds like you've had a really productive weekend It's nice that your DH listens to you (even if it's after the event ) and hopefully has a plan to make some overpayments.

    Hope you are feeling better now, I think it's normal to feel 'meh' when it's all hectic, especially if you don't have any time to yourself!
    "If you can dream it, you can do it". Walt Disney
    • AdventureWanted
    • By AdventureWanted 6th May 18, 7:30 PM
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    AdventureWanted
    Today's pads
    £3 to CC2
    50p to EF
    18p to debt savings

    I have finally transferred my debt savings to the mortgage today. Balance sent across was £10.61, which is just from my bank round downs during April and including today. I think I'm going to continue sending the odd pence to the mortgage, as I haven't missed that money during the month and the EF is looking ok at just over £1k. I must admit I hadn't really though too much about the daily interest being charged on the variable mortgage until Jwil explained her daily mortgage pad, but having looked at our mortgage it really does make sense to try and cover the 33p daily interest, especially as we only pay just over £20 a month for that mortgage element. (Nb. Our main mortgage bit is on a 2 yr fixed rate and costs a lot more than £20 ).

    I've done loads of washing today, which dried on the line within about an hour of going out . Tomorrow we are visiting my family for the afternoon, so I'm hoping to put at least one load of washing on before we leave, maybe 2 depending on how early I wake up. You never know by the end of tomorrow I may actually be able to see the bottom of the washing basket!!
    • Storm89
    • By Storm89 6th May 18, 9:09 PM
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    Storm89
    This weather does help getting the washing done doesn't it. Have a lovely time visiting family tomorrow.
    • jwil
    • By jwil 7th May 18, 4:09 PM
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    jwil
    Those small payments make a big difference and you are right, you don't tend to miss them
    "If you can dream it, you can do it". Walt Disney
    • AdventureWanted
    • By AdventureWanted 8th May 18, 7:03 PM
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    AdventureWanted
    Had a really lovely bank holiday Monday visiting family. The DC loved playing with their cousins and we had a really relaxed lunch and afternoon in the garden chatting with my siblings, nieces, nephews and parents.

    Today me & the DC have had a much needed quieter day. DC1 has finished reading another chapter book to me, which I'm really pleased about. He seems to have finally found his reading mojo and doesn't mind doing it now. On occasions he actually quite likes reading.

    Today's pads
    £3 to CC2
    £1.28 to debt savings

    Im unsure whether to continue saving the odd pence to debt savings each month and then at the end of the month send the money across to the mortgage, or just pay any bank round downs to the mortgage as they occur. The interest is paid daily so in that respect the sooner it's paid the better, but on 33p daily interest (£3k balance) I'm guessing it's not going to make too much of a difference. Will have to have a think about it.
    • AdventureWanted
    • By AdventureWanted 9th May 18, 7:53 AM
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    AdventureWanted
    Today the £130 dd payment for CC4 has
    Come out. Balance is now at £12,090, so next month it will finally be in the next money bracket. Am looking forward to it being under £12k.

    I've rounded down the bank account and sent £1.50 to CC2 and 37p to debt savings.

    DH should hopefully get paid this Friday for some work he completed a few weeks ago. We've been waiting for the money for over 2 weeks, so will be nice to have it. DH went into work yesterday and did 6.5 hours and will most probably be going in again after his course today. Really hoping he can get to a minimum of 10 hours this week. Obviously any more would be fantastic, as when we budgeted for his course we did it on the basis of no earnings, so every hour worked is an added bonus.

    Can't believe how quickly this year is going so far. It really is crazy that it's May already. CC2's 0% ends in July, so really hoping I can pay this off on time. Balance is currently £2,392.50. I've got the £180 dd still to come out this month, as well as my £325 payment on pay day. Hopefully DHs additional hours will allow us to pay some extra money to the CC. Really don't want to have to balance transfer it, especially if the balance is only around £1k. Next Wednesday is the final day of DH course, so I'm hoping he may be able to go into work on Thurs and Fri, before having the weekend off for DC1s birthday, then he's away from the Monday for 7 nights. Will have to remind DH to speak to work about next week.
    • Storm89
    • By Storm89 9th May 18, 10:22 AM
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    Storm89
    I hope you manage to pay off the CC before the 0% ends. I'll be in a similar position at the end of the year. I can't believe it's May either !! I feel like it's flown but also it's dragging if that even makes sense pahaha. The debt isn't shifting fast enough but all of a sudden 5 months have gone since I started my diary.
    It's good that your husbands course is almost over , that's gone quickly.
    • jwil
    • By jwil 10th May 18, 12:44 PM
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    jwil
    Good luck with clearing the card
    "If you can dream it, you can do it". Walt Disney
    • AdventureWanted
    • By AdventureWanted 10th May 18, 7:39 PM
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    AdventureWanted
    Thanks storm & Jwil.

    Today I've had my renewal letter through for my car insurance. Need to do a comparison, but I need to figure out first how many years no claims I have. Annoyingly the insurance company I'm currently with have no claims over 9 yrs written down as 9 years and not the actual figure. I had a car accident years ago (can't remember exactly when, but DH and I hadn't been dating that long so must be about 14 years ago). I vaguely recall losing 2 years no claims, but should have all my no claims after that. I guess I'm going to have to try and find old insurance documents, although not sure if I've still got them...

    Also up for renewal is our kaspersky internet security (3 computers) subscription. Need to look at other options, then I'll most probably ask my dad who he uses and just chose that!!

    Last night DH and I booked our family holiday - hooray!! We are off to Staffordshire, which will hopefully be lovely. We've promised to take the kids to CBeebies land, which we are all quite excited about. Need to look into places to visit, especially any good educational places (English heritage, etc), where we can pre-arrange a Home education trip, which sometimes allows us to use school admission prices. Hoping to do lots of free activities, so hoping there are national trust properties around we can visit, as well as lots of walking.

    I haven't made any daily pads today, as my bank account was very nicely rounded . Hoping to update my finance spreadsheet tonight and see if my dfd has changed.
    • AdventureWanted
    • By AdventureWanted 11th May 18, 11:41 AM
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    AdventureWanted
    Today I've paid £92.50 to CC2.

    Last night I managed to update my finance spreadsheet, but I'm not sure how to apply my repayments once CC2 is paid off. I know it's thinking ahead, but it'll give me a few months to decide. I had originally planned to move onto paying off CC3, as the 0% ends Dec 2019. However, the 0% CCs DH took out for his course (which I haven't included within my debt listing as I deem it to be business expenses) run out before CC3. I REALLY REALLY want to clear CCs 2,3&4, but I have that niggling thought that financially it would make more sense to pay off the course CCs. The downside to this is it wouldn't change my figures and I really want them gone. Maybe I should just try and reduce the course CCs as much as possible, whilst keeping on plan for CC2,3&4, then just balance transfer whatever is there. We always knew that we would be paying his course fees off over 18 months or more. Hmmm, will have to think some more.

    DH spoke to work last night about returning and they've said he can come back whenever he wants, in fact the sooner the better. Is such a relief, as I had visions of them turning around and saying they no longer wanted him. I'm really looking forward to him getting properly back into a work shift in June and hopefully doing a few extra days to try and make up for the lost work in Apr/May.
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