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    • edinburgher
    • By edinburgher 30th Oct 17, 5:22 PM
    • 11,262Posts
    • 60,435Thanks
    edinburgher
    The Edcawber Principle
    • #1
    • 30th Oct 17, 5:22 PM
    The Edcawber Principle 30th Oct 17 at 5:22 PM
    I think I promised a new and improved positive diary earlier on in the summer

    I'll try my best to keep it short and sweet, (unlike my credit card statements). Cutting a long story short, after renovating the house and an accidental car purchase (hey, it could've been a house!) we are probably better candidates for DFW

    We're now left with a much more relaxing house (we just finished our bedroom), a new car and £20,000 in credit card debt

    The new job goes fairly well, all things considered and our budget is starting to balance on a month-to-month basis. Basically I've said yes to everything, which is lovely, but immature. Mrs E realises the lie of the land and is supporting efforts to get back on an even keel. I'm eb@ying, saving cashback and making overpayments every Monday.

    DD and Mrs E are doing fabby, DD is the apple of our eye and remains chatty, affectionate and madcap
Page 52
    • Suffolk lass
    • By Suffolk lass 21st Oct 18, 7:23 PM
    • 2,156 Posts
    • 22,341 Thanks
    Suffolk lass
    Good luck with the new job - they would not have given it to you if they did not think you could do it, and will be willing you to succeed and prove their selection right :-). My only wisdom to pass on is that the higher you go, the more frogs you have to kiss (you, know, the prince thing). Just smile.

    If I were you I would take back the £135 house fund and play with your MB profits so far, as pure profits and then you are not risking your hard-earned, only your hobby fund. Log the kitty spend and consider it "banked". No point in making a fund if you don't use it. Even though your CCs are 0% interest, each reduction will reduce any re-stoozing fees, unless they will be all gone by then. But then, I am trying to clear all my debts so that retirement obligations are down to running our lives and homes and pleasure. That is what it is all about.

    Your day out sounds wonderful. Treasure the time you have together.
    MFiT T4 #2 update 90.89% after Q11 against revised stretch target of £60k balance
    Save £12k in 2018 #53 83.33% £9,999.70/£12,000 (after upping my target from £10k to £12k in October)
    OS Grocery Challenge 2018 spent £1,696.43/£3,000 including stores 67.14% of my annual budget at the end of Oct.
    My DFD is here
    • Karmacat
    • By Karmacat 21st Oct 18, 8:14 PM
    • 30,041 Posts
    • 174,103 Thanks
    Karmacat
    No financial train wreck, a wonderful day out, MB profits of a zillion per cent - your new job will follow along, it'll be brilliant
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    • gallygirl
    • By gallygirl 22nd Oct 18, 8:09 AM
    • 16,660 Posts
    • 109,960 Thanks
    gallygirl
    Hope all goes well today
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = £0
    "Do what others won't early in life so you can do what others can't later in life"
    • edinburgher
    • By edinburgher 22nd Oct 18, 9:19 PM
    • 11,262 Posts
    • 60,435 Thanks
    edinburgher
    Thanks all, I survived! Feeling absolutely knackered, although I was able to start some actual work today, got on well with everyone and am looking forward to going back tomorrow

    If I were you I would take back the £135 house fund and play with your MB profits so far, as pure profits and then you are not risking your hard-earned, only your hobby fund. Log the kitty spend and consider it "banked". No point in making a fund if you don't use it. Even though your CCs are 0% interest, each reduction will reduce any re-stoozing fees, unless they will be all gone by then. But then, I am trying to clear all my debts so that retirement obligations are down to running our lives and homes and pleasure. That is what it is all about.
    Originally posted by Suffolk lass
    Good idea, I'll do it as soon as the most recent round of profits comes back to the current account that I use for MB

    Now that I have proven that this style of MB appears to be sustainable and demonstrably profitable, there is no harm in scaling back the stakes and building them back up again with free money

    Ps. What did you mean by "Log the kitty spend... don't use it?" It's being a long day and you lost me.

    No financial train wreck, a wonderful day out, MB profits of a zillion per cent - your new job will follow along, it'll be brilliant
    Originally posted by Karmacat
    Cheers KC, your positivity is much appreciated and I managed to approach new job with nary a trace of imposter syndrome by the time I got to the office this morning.

    Hope all goes well today
    Originally posted by gallygirl
    Cheers GG - I'm still standing - well, slumped in a chair if I'm honest

    Tomorrow is another day. I'm so enthused I even bought Post-its (well, their non-union cheapo equivalent) and pencils for work (local government death by a thousand cuts mean no resources, but I don't mind as it will make my job easier to have them).
    • beanielou
    • By beanielou 22nd Oct 18, 9:27 PM
    • 58,008 Posts
    • 238,733 Thanks
    beanielou
    Glad that today went well for you
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
    • Suffolk lass
    • By Suffolk lass 23rd Oct 18, 9:59 PM
    • 2,156 Posts
    • 22,341 Thanks
    Suffolk lass
    Log the kitty spend was just a suggestion that you keep a record of the MB winnings that you spend so that you can add it to your actual kitty and then you can see how you have done overall. Occasionally a bit of reflective smugness is good for the soul!
    MFiT T4 #2 update 90.89% after Q11 against revised stretch target of £60k balance
    Save £12k in 2018 #53 83.33% £9,999.70/£12,000 (after upping my target from £10k to £12k in October)
    OS Grocery Challenge 2018 spent £1,696.43/£3,000 including stores 67.14% of my annual budget at the end of Oct.
    My DFD is here
    • edinburgher
    • By edinburgher 24th Oct 18, 9:39 PM
    • 11,262 Posts
    • 60,435 Thanks
    edinburgher
    Log the kitty spend was just a suggestion that you keep a record of the MB winnings that you spend so that you can add it to your actual kitty and then you can see how you have done overall. Occasionally a bit of reflective smugness is good for the soul!
    Originally posted by Suffolk lass
    Good idea!

    Absolutely knackered today - the new work is much more cerebral and my brain hurts Working late and eating nonsense, but that will settle down after a couple of weeks and establishing a routine again.

    We bought DD a new bed and mattress. I'd had good intentions about looking locally for a secondhand one, but time is my main enemy at the moment. Decided it was politic to spend what limited free time I have with DD and Mrs E (and not driving across the city to disassemble beds that I would then have to paint) No regrets.
    • Science_mum
    • By Science_mum 25th Oct 18, 9:02 AM
    • 4 Posts
    • 29 Thanks
    Science_mum
    Hi Ed, sounds like the right call on the bed, itís tough on everybody starting a new job and makes frugaling hard. DH has taken on extra work this term- which equals more cash but less time. Night before last I was suggesting we get extra help at home (someone to cut the grass and clean the windows as I am fed up of doing everything). Not very frugal.

    PS I am sure you are rocking the new job.
    • edinburgher
    • By edinburgher 27th Oct 18, 9:47 AM
    • 11,262 Posts
    • 60,435 Thanks
    edinburgher
    Hi Ed, sounds like the right call on the bed, it’s tough on everybody starting a new job and makes frugaling hard. DH has taken on extra work this term- which equals more cash but less time. Night before last I was suggesting we get extra help at home (someone to cut the grass and clean the windows as I am fed up of doing everything). Not very frugal.

    PS I am sure you are rocking the new job.
    Originally posted by Science_mum
    Thanks Science_mum, I am trying my best!

    As for frugality, I am a woefully bad example at the best of times Don't get me wrong, there have been times in my life when I was probably a shining example of frugality - mending clothes, baking my own bread and home brewing. The problem is (as I see it) that frugality either involves subtraction (i.e. opting not to do something) or the substitution of your labour for lower initial spend on the finished product (for example, the time consuming process of making sourdough bread vs. buying shop bought). Both subtraction and time are hard things to achieve as a parent, as you will be well aware

    We've also got a window cleaner after 3 years of basically ignoring our filthy windows, well worth the spend. The first time I cleaned our windows, I managed to drop a 20' ladder on my shoulder and head

    Mrs E is picking up some bedding for DD's new bed today, after that we will screw the nut as regards spending. I have to cut the grass, build the bed, hoover and process the laundry today, as well as making dinner

    I finally received £30 cashback from TCB after 17 months of chasing! This has been paid off a CC.
    • Suffolk lass
    • By Suffolk lass 28th Oct 18, 7:25 AM
    • 2,156 Posts
    • 22,341 Thanks
    Suffolk lass

    I finally received £30 cashback from TCB after 17 months of chasing! This has been paid off a CC.
    Originally posted by edinburgher
    Admirable Terrior-like qualities to chase that for 17 months! Well done indeed
    MFiT T4 #2 update 90.89% after Q11 against revised stretch target of £60k balance
    Save £12k in 2018 #53 83.33% £9,999.70/£12,000 (after upping my target from £10k to £12k in October)
    OS Grocery Challenge 2018 spent £1,696.43/£3,000 including stores 67.14% of my annual budget at the end of Oct.
    My DFD is here
    • edinburgher
    • By edinburgher 28th Oct 18, 7:28 AM
    • 11,262 Posts
    • 60,435 Thanks
    edinburgher
    Early signs promising for DD's new bed - if the clocks hadn't changed she would have been in bed 'til 7:45!
    • beanielou
    • By beanielou 28th Oct 18, 7:49 AM
    • 58,008 Posts
    • 238,733 Thanks
    beanielou
    That’s great.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
    • edinburgher
    • By edinburgher 10th Nov 18, 10:27 AM
    • 11,262 Posts
    • 60,435 Thanks
    edinburgher
    I'll try and do a more substantial update later, but bargain hunters should be aware that Lidl are selling 40 packs of their cracking dishwasher tablets half price at £1.99 today. An absolute bargain, I picked up my maximum allowed shop of six boxes shortly after 8 this morning
    • beanielou
    • By beanielou 10th Nov 18, 1:04 PM
    • 58,008 Posts
    • 238,733 Thanks
    beanielou
    That is a great buy.

    Hope the job is going well.
    Enjoy your weekend
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
    • Suffolk lass
    • By Suffolk lass 11th Nov 18, 6:35 AM
    • 2,156 Posts
    • 22,341 Thanks
    Suffolk lass
    I'll try and do a more substantial update later, but bargain hunters should be aware that Lidl are selling 40 packs of their cracking dishwasher tablets half price at £1.99 today. An absolute bargain, I picked up my maximum allowed shop of six boxes shortly after 8 this morning
    Originally posted by edinburgher
    Aha! Only just seen this - it explains why no dishwasher tablets in Lidl or Morries!
    MFiT T4 #2 update 90.89% after Q11 against revised stretch target of £60k balance
    Save £12k in 2018 #53 83.33% £9,999.70/£12,000 (after upping my target from £10k to £12k in October)
    OS Grocery Challenge 2018 spent £1,696.43/£3,000 including stores 67.14% of my annual budget at the end of Oct.
    My DFD is here
    • edinburgher
    • By edinburgher 14th Nov 18, 7:23 AM
    • 11,262 Posts
    • 60,435 Thanks
    edinburgher
    £69.80 paid off a credit card last night after my run. No fun statistics to share, just good old fashioned debt grinding. It all feels a bit laborious at the moment

    Taking a break from MB until the new year, I feel the time spent would be better spent having a lie in

    Hope everyone is managing to keep dry, it's miserable out.
    • beanielou
    • By beanielou 14th Nov 18, 8:06 PM
    • 58,008 Posts
    • 238,733 Thanks
    beanielou
    It is exactly that. Laborious is exextly how it is
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
    • edinburgher
    • By edinburgher 14th Nov 18, 8:44 PM
    • 11,262 Posts
    • 60,435 Thanks
    edinburgher
    It is exactly that. Laborious is exextly how it is
    Originally posted by beanielou
    Keep plugging away, eh? £70.67 paid off a CC. Will dip under £17k next month
    • beanielou
    • By beanielou 14th Nov 18, 8:49 PM
    • 58,008 Posts
    • 238,733 Thanks
    beanielou
    Keep plugging away, eh? £70.67 paid off a CC. Will dip under £17k next month
    Originally posted by edinburgher
    Thats just great
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
    • Suffolk lass
    • By Suffolk lass 15th Nov 18, 8:01 AM
    • 2,156 Posts
    • 22,341 Thanks
    Suffolk lass
    That's where we started, around £17k of unsecured debt and a large mortgage. There is a magic snowball effect but it just feels a bit futile for a while, I know. I am sure I have said before I Tilly-Tidy the bank accounts after each payment, into my "slush-fund" instant saver (b-all interest) and use this to overpay at the end of each month - it feels a bit pathetic but it does mount up. And sticking to it (with a few hiccoughs and treats) means the extra bits when one thing is paid off, soon ramps up the debt repayment against the other things. Your family will thank you when that money is for you and can fund university, DD's first car, or a house deposit. I know you like a nice spreadsheet, you could do a bit of modelling and extrapolating to keep your interest high when your payments are low (at this time of the month)
    MFiT T4 #2 update 90.89% after Q11 against revised stretch target of £60k balance
    Save £12k in 2018 #53 83.33% £9,999.70/£12,000 (after upping my target from £10k to £12k in October)
    OS Grocery Challenge 2018 spent £1,696.43/£3,000 including stores 67.14% of my annual budget at the end of Oct.
    My DFD is here
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