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    • Crikey123
    • By Crikey123 9th Nov 17, 11:17 AM
    • 30Posts
    • 84Thanks
    Crikey123
    Holy moly!!
    • #1
    • 9th Nov 17, 11:17 AM
    Holy moly!! 9th Nov 17 at 11:17 AM
    I've decided to start a diary. I started reading these forums a few months ago but never joined in, just used it to try and get some motivation. That didn't work, I'd tell myself I wanted to deal with my debts but would then see a nice dress or want a takeaway on a Friday night so the credit card would come out, but something has finally kicked my butt into gear.

    Basically I was a hair thread away from losing my job. The company I work for had some quite serious cashflow problems, so the Directors were considering closing down. Luckily they've decided to put some money into it to get through the short term issue and I know that with the cash injection, the company can work through this (I work in accounts so know that much at least).

    Anyway, this made me go into a blind panic because I have massive debts and no savings. I'm almost 40 now so am slightly ashamed that I'm still in this position, but no point in looking back is there. Time to look forward and plan ahead.

    I'll do my SOA later. I use YNAB, have used it for a few years after my friend introduced me to it. My problem is I do my budgets on YNAB, but then spend money & then adjust everything in YNAB after spending which means I end up having less money to pay towards my debts because I've spent the 'spare' money on other things instead. I have to stop doing this, start sticking to my budget. I do pay more than the minimum on all the cards and most of them are on 0% balance transfer deals, but I know I'll struggle to get any more deals so if any of these run out & start having interest added on that will be even tougher on the budget.

    My total debts are 26481.12! Honestly I have nothing to show for it. We've had some amazing holidays, our children have the latest gadgets, toys crammed in every corner of our house and we have wardrobes stuffed full of nice clothes, but I've realised that means nothing when my debts are so high.

    I'm determined to deal with this. I have a decent salary and regular overtime. My biggest fear is losing my job and having to rely on one wage. If I get rid of the debts that won't be a problem.

    So, here I go.
Page 2
    • Drawingaline
    • By Drawingaline 18th Dec 17, 8:59 PM
    • 414 Posts
    • 1,404 Thanks
    Drawingaline
    Well done, especially on the ppi pay out. Annoyingly all my ppi was in around 1997 and I understood what it was when I signed for it. Then in 2000 I started working in a bank and had to actually sell it on credit cards (it was targeted and I hated doing it) and I never took it out on any other products. Great at the time, but I would have loved a windfall when everyone else I knew was getting rebates.

    Sounds like you have been bitten by the debt busting bug, I did really well at the end of 2016 into the fort half of 2017, them I received an inheritance and paid off a huge chunk. Now I am back to deal with the last lot. I also use ynab and love it, but you do have to want to use it correctly for it to work. Like any budgeting thing it is just a tool, you have to have the willpower to leave money in savings categories!
    • Crikey123
    • By Crikey123 2nd Jan 18, 10:17 AM
    • 30 Posts
    • 84 Thanks
    Crikey123
    Happy new year everybody. The christmas break went so quickly and I am gutted to be back in work, but also really looking forward to making 2018 my year of debt busting. I have also decided to have a major declutter this year, which in some way I hope will help with the debt busting because I will try to sell as much as possible. I have already put a few things on ebay again and when the weather gets a bit better I will do a few car boot sales.

    On the debt note, my debt hasn't increased over christmas, which I am very pleased with. I have updated you need a budget and all looks good for this month, the standard bills have come out (mortgage etc) and the minimum payments are covered, so for the rest of the month my OH's weekly wages will go towards overpayments, groceries and fuel. I already have enough fuel in my car for the next 2 weeks though & we have enough food in the house to last us a while so I will keep some of these budgets to overflow into next month.
    Last edited by Crikey123; 29-01-2018 at 12:06 PM.
    • Drawingaline
    • By Drawingaline 2nd Jan 18, 8:28 PM
    • 414 Posts
    • 1,404 Thanks
    Drawingaline
    this is for no new debt over Xmas
    • Mumoffourkids
    • By Mumoffourkids 2nd Jan 18, 8:45 PM
    • 592 Posts
    • 2,864 Thanks
    Mumoffourkids
    Happy new year to you crikey. And well done on getting through Christmas with no new debt.

    Also I wanted to say I got confirmation from Tesco that I am entitled to a refund of ppi. I got a letter between Christmas and New year saying they were going to give me 1811 and take that off my debt!. It was only reading your diary that made me find the letter and put in a complaint. So thank you for writing about it and reminding me to put in the complaint as it has really kick started my debt repayments!
    Total debt Dec 2017 23090.83
    Mar 2018 6247.86 72.94% paid
    Emergency fund 472.50/600
    Total Savings 1704.02
    • Crikey123
    • By Crikey123 3rd Jan 18, 12:39 PM
    • 30 Posts
    • 84 Thanks
    Crikey123
    Thank you both, I was so pleased with myself. The good thing is as well I have started budgeting some savings each month for Christmas too so this month I have used that money to get a few things in the sale to put away for next Christmas. Seems a bit mad shopping in January for Christmas 2018, but I already have 3 people finished for less than half the price it would cost later in the year, so I'm quite pleased with myself.

    That's fab news Mo4K, I'm so glad I have helped somebody in a way It definitely all helps & hopefully it will keep you motivated now seeing that balance reduce.

    I have found a few more things to put on ebay. I'm going to put them on there on Thursday evening on a 10 day auction. I've got some stuff ending this weekend, 2 of them have bids on but 2 have nothing. They've had views but no watchers, so I don't think they are going to sell. If they don't sell, I will relist them once but if they still don't sell after the second time I will put them aside for a car boot sale later in the year.

    I've got all my you need a budget up to date and everything is looking fine. At the moment I'm on track to pay around 1700 towards the debts, that's without any ebay sales. I've already paid 280 of that because they are accounts that need paying before 15th of the month, but the remaining amounts are all due at the end of the month. All of them are on Direct Debit, most of them for fixed amounts which means I'm always paying above the minimum amount anyway, but 2 of them are set to pay the minimum on DD then I pay any overpayments manually. I do it this way because then if something unexpected happens & I need the overpayment money for something else, I can just adjust my budget.
    Last edited by Crikey123; 29-01-2018 at 12:07 PM.
    • Crikey123
    • By Crikey123 12th Jan 18, 1:51 PM
    • 30 Posts
    • 84 Thanks
    Crikey123
    Not much to report here at the moment. Some of the stuff I put on ebay sold, all posted and transferred the money to my account now to pay off a card. I will put some other things on there next week, I wanted to put some on last night to get use out of the 10 day listing and 2 weekends worth of views but I had a lot of running around to do last night so didn't get chance. I really need to get this debt down quicker, it's such a burden!
    • Crikey123
    • By Crikey123 29th Jan 18, 11:53 AM
    • 30 Posts
    • 84 Thanks
    Crikey123
    It's been a few weeks since I was on here, I'm surprised how quickly January has gone. It was payday for me on Friday so I have my budgets set for February. I have also made all January over payments towards my debts. Felt good paying a total of 811 off one of the credit cards this month. I also paid 920 off all the other debts, so a total of 1731 paid off altogether. I did sell a few things on ebay but ended up having to use that money for some other things that came up, but I'm pretty happy with how much I've paid off this month anyway so not going to stress over that.

    I'm very pleased to report that I haven't used my credit cards at all this month. There were a few evenings when I did browse the internet & put a few things in my basket, but something stopped me clicking through to checkout.

    It still feels very slow getting the balance down but I know I have to stay motivated and keep on top of this, so I've decided to set myself mini targets now & promised myself a small treat when I reach each mini target.

    So my first target is:

    The interest bearing credit card has a balance of 4.8k. When I get that balance below 3.5k I am going to treat myself to a new scented candle. I love having candles lit in my house & did have a few for Christmas, but I know that they will run out soon, so it will be a nice treat to have a new one. I think if I can make payments at the same rate as I did this month, I should reach this target in 2 months. I will then set myself a new mini target.
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 29th Jan 18, 1:36 PM
    • 1,221 Posts
    • 5,598 Thanks
    wishingthemortgaheaway
    Excellent debt busting in January wo hoo. And mini treats sound good.
    (What about trying to 'earn' the money for the candle from 3bay, or surveys or something? -double whammy and very mse???)
    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
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 1400ish/2,500
    • Crikey123
    • By Crikey123 30th Jan 18, 10:55 AM
    • 30 Posts
    • 84 Thanks
    Crikey123
    Thank you wishing, I was very pleased with myself. I've done my budgets for February and looks like I'll be able to pay around 1400 off the debts this month, but I might be able to increase this if I get anything else sold on ebay.

    I started doing surveys just after Christmas & recently managed to redeem a 10 voucher for Amazon. I might start doing more surveys while I'm watching TV in the evenings, they're not difficult and it's just a little bit extra that I can spend on Christmas or birthday presents. In fact I might see if I can buy all family (not including OH & kids) birthday presents with vouchers. I have 6 birthdays throughout the year, not including my kids & OH, and they are all quite spread out over the year so I think that is achievable.
    • Crikey123
    • By Crikey123 31st Jan 18, 1:59 PM
    • 30 Posts
    • 84 Thanks
    Crikey123
    Very pleased with the 130 I got for sending one of my old phones to Envirofone. It was so quick, I set it up last Tuesday, got the prepaid envelope last Wednesday, sent it back Thursday, had a text yesterday saying it was processed & the money was in my account today. I know we have a few more knocking around the house so I think I'll get them sold as well. I know I could get more for them on ebay but with such high value items I would worry too much about all the different scams I hear about, so I'd prefer for my own peace of mind to just go through one of these phone recycling companies.

    With that 130 I have given myself a little bit extra grocery budget because I know towards the end of this month I am going to run out of things like bleach, fabric softener etc so will stock up on all of that. I also put a little bit aside for a big school trip that my daughter has later this year & the rest I have allocated to debts, which means my original 1400 payment has now increased to 1480. I want to try & get this up to 1550 with some ebay sales.

    I did a few more surveys today and on one of the survey sites I use I am close to being able to redeem a 5 voucher, however on this particular one it works out better to try & hold out for more points & get a 10 voucher because overall it uses less points per if that makes sense.

    I also switched our gas & electric suppliers last week, which I forgot to mention. I have been meaning to do it for a while but just kept putting it off, but I had some spare time the other day & just got it done. Based on my annual usage they estimate I will save around 400 per year, which is amazing.
    • Crikey123
    • By Crikey123 4th Feb 18, 4:24 PM
    • 30 Posts
    • 84 Thanks
    Crikey123
    I put some things on ebay on Thursday night on a 10 day auction. Some of them have bids on already but I hope they get more throughout the week.

    I haven't done a lot else towards debt busting. I've had a few no spend days and have joined a challenge on here. I've also done a few surveys but not redeemed any vouchers yet, hopefully I will get to one soon.
    • Crikey123
    • By Crikey123 6th Feb 18, 11:23 AM
    • 30 Posts
    • 84 Thanks
    Crikey123
    I have reached the level to redeem a 10 Amazon voucher on one of the survey sites that I use, but they're currently doing a promotion & there's loads of surveys on my dashboard so I might try & get up to a 15 voucher while it's busy on the site. Hopefully I can achieve this which means I'll be able to pay for my dad's birthday present with just vouchers.

    In other money news, most of my bills have gone out & I only remembered today that I don't pay council tax this month or next month, so I can reallocate that money to debts. This gives me an extra 197 this month and 197 next month to pay off a debt. However, my council tax has increased year on year for the 10 years that I have been here, so I will probably keep a little bit of this money back for the increase, so I think I'll probably pay 150 this month then I should get my letter through the post soon notifying me of what this years rates will be.

    I ended some of the ebay listings last night. I put about 12 things on there on Thursday evening, but some of them had no watchers & hardly any views, so clearly people aren't looking for them so pointless me letting the auction run. I will put them in a box because I am planning to do a car boot sale when the weather gets a little bit warmer. Some of the other things I put on there are doing fairly well though, they all have bids & quite a lot of watchers, so fingers crossed they get me a decent amount. I have the evening to myself tomorrow so I'm going to pack them ready to post, so that when the auctions end on Sunday night I can just put them in my car & then as people pay for them I will be able to get to the post office to get them sent.

    I've finally received some information from my new gas & electric supplier. I had a letter in the post yesterday & have also had an email to activate my account. I have to give meter readings next week & then it should all be set up towards the end of the month apparently.

    I'm pretty sure my home insurance is due for renewal in March. I always pay it annually, saving a fixed amount every month ready for the following years renewal. Considering how rubbish I've been with money over the years, this is one of the things I've been good with, as well as my car insurance.
    • Crikey123
    • By Crikey123 6th Feb 18, 1:39 PM
    • 30 Posts
    • 84 Thanks
    Crikey123
    Ok I had another look at the survey site & the 10 voucher is the best value because if I wait for the 15 voucher, it works out more points per 1 again, so I have redeemed the 10 voucher now & should have that in the next few days. I will just keep doing the surveys and hopefully get another 10 voucher again soon.
    • Drawingaline
    • By Drawingaline 6th Feb 18, 1:49 PM
    • 414 Posts
    • 1,404 Thanks
    Drawingaline
    Well done with sticking with the survey's. I tried them about a year ago, managed to get 20 Amazon vouchers over a couple of months, but in the end I decided it was too time consuming for me.
    • enthusiasticsaver
    • By enthusiasticsaver 6th Feb 18, 2:06 PM
    • 6,265 Posts
    • 12,422 Thanks
    enthusiasticsaver
    Just quickly skimmed your diary and wanted to say that paying around 1400 to 1700 off the debt is great and good you are using YNAB although I am too mean to pay the 3 a month so I use clear checkbook instead and spreadsheets.

    A few things

    You need an emergency savings account. I know many people when they are debt busting think that throwing every spare penny at the debt is the most important thing but actually budgeting correctly and having emergency savings should be priority. Otherwise if you have an emergency and no savings then people resort to credit cards again which defeats the purpose of eventually aiming to live without credit or at least paying it off in full every month.

    Can you get the interest bearing card moved to a 0% deal?
    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
    • Crikey123
    • By Crikey123 9th Feb 18, 9:31 AM
    • 30 Posts
    • 84 Thanks
    Crikey123
    Drawingaline - Thanks for popping in. I know what you mean, I used to do them a lot a few years ago & got quite a lot of vouchers from it but that was when they seemed to pay more for surveys and a lot of the time the surveys were shorter as well. I found after a while though that there were more & more longer surveys (I won't ever do a survey over 15 minutes) and also found that they seemed to pay less per survey. Since starting back up on them I find I've been able to get some decent earnings from just doing the shorter surveys and on Swagbucks they do promotions as well, which earns me points without even having to do a survey which is good. If I find it's all getting too time consuming again I will leave it a while though.

    enthusiasticsaver - Thank you, I am really pleased with myself being able to pay these amounts off. It helps with the motivation when I see the balances reducing at a decent rate. I actually bought YNAB years ago when it was just the one off cost so I still use that version. I did look at the newer version but I wasn't all that fussed on it & also wasn't willing to pay a monthly fee for it.

    As for savings, we do have an emergency fund put away which I try to forget about because whenever I think about it I am tempted to use some of it to clear some of the debts. My OH gets paid weekly so he puts a bit of his weekly money into that account & then just sends the rest over to the joint account for our bills etc.

    I have recently noticed that when I login to some of my card accounts, they have some offers available, so I need to have a proper look at these to see if any of them are 0% offers or even just lower offers that would save interest.

    It's so cold today, when the weather is like this I don't want to go anywhere. I feel like we've had this cold weather forever, I can't wait for it to warm up a bit. I have a quiet weekend planned apart from Sunday as we are visiting family. I'm also going to spend some time this weekend making soup that I can bring to work in the week. For the last few weeks I have been bringing lunch into work with me & I have really noticed a difference in the amount of fuel I'm using, as before I would end up popping out to get lunch & it's those little journeys that seem to make a difference.
    • Stayathomemum36
    • By Stayathomemum36 9th Feb 18, 7:17 PM
    • 47 Posts
    • 151 Thanks
    Stayathomemum36
    Hi, just wanted to say that Im going to have a weekend of baking and cooking too, the kids can help. We are also watching our fuel consumption and if i have the car out then i will try and do anything else thats needed while Im out. We've got our fuel consumption down to one tank a month - 55 (I'm a stay at home mum).
    PAD 2018 867 1k emergency fund chall 368 / 1000. DFD "Making the changes and sticking to it".O/D 550/0 [STRIKE]Next 636 0[/STRIKE CC Debt: 2903128182.10
    • Mumoffourkids
    • By Mumoffourkids 9th Feb 18, 7:58 PM
    • 592 Posts
    • 2,864 Thanks
    Mumoffourkids
    We have been baking today as well and more is planned for tomorrow. Today was chocolate cake and chocolate chip brownies, tomorrow is going to be doughnut cakes and chocolate fudge. Not sure how long they will all last though with the kids being off next week. One of my daughter's has really got into cooking recently so she has been baking all the cakes. She is also going to cook loaded potato skins for tea on Monday. I am glad in a way as it gives me a rest from cooking but I can see my food budget being pushed up a bit if she carries on baking!
    Total debt Dec 2017 23090.83
    Mar 2018 6247.86 72.94% paid
    Emergency fund 472.50/600
    Total Savings 1704.02
    • Drawingaline
    • By Drawingaline 9th Feb 18, 9:13 PM
    • 414 Posts
    • 1,404 Thanks
    Drawingaline
    It does look cold this weekend. We are off to stay in a premier Inn for my son's birthday. We're planning a wildlife park, have changed that after the last four days of numb hands and feet lol!
    • Crikey123
    • By Crikey123 14th Feb 18, 3:58 PM
    • 30 Posts
    • 84 Thanks
    Crikey123
    Hi All

    It sounds like you have all had lovely baking sessions & DAL I hope your son enjoyed his birthday

    My weekend went as planned. I made soup and a cake. The soup is gone now because me & my husband took it to work Monday, Tuesday and today & we also had it for our tea on Monday night.

    SAHM36, Well done on the fuel consumption! I don't think I'll get it down to that level but I am happy that I am reducing it by making less trips. When the better weather starts I will make an effort to walk more places as well.

    It is half term for my kids next week so my childcare is a bit more than the normal monthly amount, but I have budgeted for this anyway so all prepared for that.

    Nothing really to report financially because nothing really gets paid around this time of the month. All our household bills come out at the beginning of the month and then all the credit card DD's go out towards the end of the month, so I'm waiting for that now so I can see the reduced balances again.
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