Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • EscapingTheAlarm
    • By EscapingTheAlarm 3rd Dec 17, 5:31 PM
    • 102Posts
    • 220Thanks
    EscapingTheAlarm
    Spend less now, work less later...
    • #1
    • 3rd Dec 17, 5:31 PM
    Spend less now, work less later... 3rd Dec 17 at 5:31 PM
    Hello!
    Iím starting this diary with two loans to clear (as well as a mammoth mortgage- but Iíll worry about that later!). Iím not a massive spender but Iím not hugely careful either and I could clear my debts much quicker than I will at the moment if I put my mind to it and stopped deciding that my money would be better spent on another meal out...
    I live with my wonderful husband and would love to start a family next year. However, Iím very aware that when I have children, I will want to be at home as much as possible which at the moment would be very difficult as we rely on my full time wages to help service our pretty big outgoings.
    So the plan is to spend less, pay off our debts, and ultimately get to work less when we have a family.
    Wish me luck!
Page 4
    • EscapingTheAlarm
    • By EscapingTheAlarm 10th Jan 18, 4:44 PM
    • 102 Posts
    • 220 Thanks
    EscapingTheAlarm
    Thanks both of you! I!!!8217;m pleased that you agree about the card... it!!!8217;s reassuring to know that I!!!8217;m not the only one to think it!!!8217;s a good idea!
    Chrystal, thanks for telling me I!!!8217;m doing well- it makes me feel even more determined!
    Csarina2, well done for paying off all of your debt! Did you work out how much interest you saved by switching?
    • Regency1
    • By Regency1 17th Jan 18, 2:36 PM
    • 18 Posts
    • 42 Thanks
    Regency1
    Hi ETA,

    I've just read through your diary and you sound really focused and determined to get rid of the debt. I'm glad you feel like your husband is getting to where you are on this as it would be really tough if you were trying your hardest to change the future for you both as a couple if he wasn't at least trying!

    I think that the incentive of having time more time off work if you have a baby is a good one. It's what has really made me think about the amount I'm spending.

    I think our situations are also similar because food is what takes a lot of the money in our household too! My husband is a big guy and always hungry but he likes good food and is a really good cook. There are definite advantages to this as I get lovely meals made for me and I'm a terrible cook, however, he does spend a lot on ingredients that sometimes don't get used up, and I have to do the amazing amounts of washing up that he generates! Still, I wouldn't be without him and you must have got a terrible scare when your husband wasn't well.

    I wish you all the best with paying down the debts - I'm sure with your determination you will get there in no time. I'll subscribe to keep up with your journey!
    • EscapingTheAlarm
    • By EscapingTheAlarm 17th Jan 18, 7:22 PM
    • 102 Posts
    • 220 Thanks
    EscapingTheAlarm
    Thanks Regency! I completely agree that the thought of starting a family as soon as possible is really motivating! I just need to stop myself from spending hours on Pinterest mentally spending money on baby stuff before I!!!8217;ve even got any money put aside for maternity leave!!

    My DH is a brilliant cook too! I justify the food spend at the minute by thinking about how much money we!!!8217;re saving by eating his home cooked food rather than a restaurant!!!8217;s food which I probably wouldn!!!8217;t even prefer!

    My payslip came up online today and all the backdated pay is there! I!!!8217;m so pleased- I just can!!!8217;t wait for Friday now! It will be a tough month for keeping in budget next month as it!!!8217;s a five weeker but I!!!8217;m determined that we!!!8217;ll make it!
    • EscapingTheAlarm
    • By EscapingTheAlarm 19th Jan 18, 5:44 PM
    • 102 Posts
    • 220 Thanks
    EscapingTheAlarm
    Itís pay day!!! Yay! Iíve transferred the money across and am feeling really proud to have reached the £5000 mark! I know itís cheating a bit with the backdated pay but Iím still really happy. My plan now is to start adding £1200 a month to the final settlements fund as my pay will be about £200 more a month from now on.

    I need to make sure that I start saving for the growing list of events weíve got planned for the rest of the year (hen dos, weekends away etc) which I donít want to spoil by worrying about how much theyíre costing me. I canít decide whether to put money away of just sacrifice spending money during the months that they fall in... Iíll have to have a think!

    This weekend will be fairly cheap- Iím seeing two sets of friends on Sunday but they should be at home meet ups which is fine and tomorrow Iím panning on getting out into the garden to start prepping it for the spring. I need (want) to spend some money on the garden this year as I love sitting outside on spring and summer evenings and it will be much cheaper to do it in my own garden than in a pub! I need to try and grow some green fingers...
    • Chrystal
    • By Chrystal 19th Jan 18, 9:11 PM
    • 284 Posts
    • 1,882 Thanks
    Chrystal
    Well done on the money ETA Don't agree with you that it's cheating.... you could have spent the extra but you didn't

    Spending money on your garden is well worth it. You get the pleasure of it every day, from watching the first bit of green on the bulbs appear, to the glory that is Summer and Autumn..... much better than sitting in a pub garden occasionally.
    GC. Oct.17 = £261.18/ £300 = + £38.82 NSDs 20/31
    GC. Sept.17 = £354.89/£300 = - £54.39

    • EscapingTheAlarm
    • By EscapingTheAlarm 27th Jan 18, 6:46 PM
    • 102 Posts
    • 220 Thanks
    EscapingTheAlarm
    Thanks Chrystal! I!!!8217;m still feeling really pleased despite already feeling the pinch of a very tight month only a week after payday! We are determined to keep within budget again this month and have been making sure that we are doing lots of free stuff instead of tempting ourselves in spendy places.
    The gardening got rained off last weekend so I!!!8217;ve got my fingers crossed that tomorrow will be dry enough to get out and start making it look a bit more loved! I!!!8217;ve got masses of seeds that I!!!8217;m in charge of growing for work so I!!!8217;m hoping that my boss will let me bring a few plants home if we have any spare! If not, I!!!8217;ll have to have a look for garden centre sales...
    • EscapingTheAlarm
    • By EscapingTheAlarm 4th Feb 18, 5:24 PM
    • 102 Posts
    • 220 Thanks
    EscapingTheAlarm
    This month is sooo tight! DH had to go to London twice this week which has added to the pressure (although it was due to a family emergency so couldn!!!8217;t be helped) and we!!!8217;ve been out for lunch with friends this weekend so I!!!8217;m stressing slightly about how we!!!8217;re going to finish the month with any money left! On the up side, we went for coffee today with some friends and one of them insisted on paying for everyone so we had a slight win there!
    Aside from money, DH has a check up at the hospital this week and they told him that he doesn!!!8217;t need to go back for 6 months! It!!!8217;s such a relief and really reminds me how lucky I am, debt or not! We really want to start trying for a baby soon so we can!!!8217;t afford to take our eyes off the ball and risk not lowering our monthly payments before I go on maternity leave. We had a bit of a pep talk this morning and we!!!8217;re going to do everything we can not to go over this month. Fingers crossed!
    • EscapingTheAlarm
    • By EscapingTheAlarm 25th Feb 18, 10:50 AM
    • 102 Posts
    • 220 Thanks
    EscapingTheAlarm
    So the last few weeks have been very expensive... we!!!8217;ve had to fork out £230 to the vets for one of my dogs, £150 on new front tyres on my car and £220 to fix a smashed wing mirror that no one stopped for... all in all a not too pleasant month when it comes to money!
    I!!!8217;m trying to keep positive because I know that these things will always come up but it always knocks you when you!!!8217;re not expecting it!
    Other than that, the last few weeks have been lovely and DH and I have started our garden project which still has a long way to go but is starting to look better!
    • EscapingTheAlarm
    • By EscapingTheAlarm 28th Apr 18, 9:40 AM
    • 102 Posts
    • 220 Thanks
    EscapingTheAlarm
    I!!!8217;m feeling really happy today as I currently have enough sitting in my account to clear my car finance! Hooray! I!!!8217;m not going to actually pay it just yet because I want to build up a few thousand pounds as a buffer for once it!!!8217;s paid out but it!!!8217;s a big relief to know it!!!8217;s there.
    In other news, DH has started his new job and his first pay check has come in which has helped me feel a bit less bitter about his ridiculous car! I!!!8217;ve also managed to get a promotion at work (on a much smaller scale but enough to bring in an extra £150-£200 a month which is very welcome) and I!!!8217;m getting ready to start in June. I!!!8217;m really looking forward to it because it means that for one and a half days a week I get to do different things from my normal job and so I think my weeks will start to be a bit more interesting without me having to add too much to the workload which I bring home.
    Last weekend was very spendy as it was one of those weekends where you have plans to see lots of different groups of friends so we!!!8217;re trying to make up for it this weekend by having a quieter one. We!!!8217;ll see how it goes...
    • EscapingTheAlarm
    • By EscapingTheAlarm 1st Jun 18, 8:45 AM
    • 102 Posts
    • 220 Thanks
    EscapingTheAlarm
    Yesterday we paid a £1000 overpayment towards our loan and are eagerly awaiting what this does to our settlement figure. I am convinced that it will wipe slightly more than £1000 off our figure but DH is convinced it will be slightly less. We are both hoping that I am right but need to wait until Monday to find out - fingers crossed!
    We have still got the money to pay off my car sitting to one side and have decided to overpay our loan by £350 a month (we are both due a bit more pay as of June) so that hopefully we can pay both off in full in November and free up the extra money towards paying off something else. It will also just be lovely to have two creditors wiped off our list of who we owe so I!!!8217;m really hoping nothing disasterous comes our way and stops it from happening.
    Work for both of us is a bit busier these days but this is a very good reminder of why we are bothering to do something about our debt and ultimately have a bit more freedom over how we spend our time.
    I am seeing a real divide in our friends at the moment between the ones who are trying to do similar to us and put themselves in a stable position prior to starting a family etc and the ones who could not care less about money and enjoy spending it on nights out and pretty clothes (I do find myself feeling envious of these ones)! I find it really interesting actually and find myself wondering what our situations will be in 5 years time...
    • enthusiasticsaver
    • By enthusiasticsaver 1st Jun 18, 9:02 AM
    • 6,608 Posts
    • 13,897 Thanks
    enthusiasticsaver
    It looks like you are getting better at saving now. How much has the debt reduced since January? Do you keep track of it going down?

    Spending more than your income and incurring debt will always come to a head at some point. Sometimes it is a key event like a lost job or sickness or a baby and sometimes it is a gradual increase until servicing the debt takes more and more of your pay leaving you with less and less to live off. When the credit card companies or banks deem you a bad risk and credit deals dry up this is when people are forced to deal with it. Ideally people would realise this when they are £2 or £3k in debt but often it is not until the debt is in the tens of thousands.

    People who carry on spending when they cannot afford it will find clearing it much more difficult so your friends who don't care will certainly regret it either in one year or ten years time when they are facing a mountain of debt, have the expense of children or are facing retirement. Some will never be out of debt.
    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
    • EscapingTheAlarm
    • By EscapingTheAlarm 1st Jun 18, 1:34 PM
    • 102 Posts
    • 220 Thanks
    EscapingTheAlarm
    Hello, thanks for checking in! I hope you are enjoying your early retirement!
    Well since January, on top of our minimum payments, we have saved up £6000 which will pay off my car once we have enough money not to panic that we would not have it to fall back on if needed (we have got just over £2000 of extra savings so we will hopefully get that to around £5000 before we pay off the £6000) and we have paid off this £1000 from our loan so I think that including our minimum payments we have made around an £8000 dent in the debt which I am really happy with!
    I am starting to feel a bit more anxious about how much we owe on our mortgage too so it will be good if we can keep the momentum going and start to make overpayments once we have got rid of the unsecured debt. We are going to keep DHs car finance and tackle the mortgage before that as I think him and cars will be a never ending battle whereas the mortgage is something that I can make a real dent in... you win some, you lose some!

    I think we are at a funny age when it comes to money- some of us feel a bit old before our time whereas other are still clinging onto the memories of uni! I hope that the friends who are still pretty carefree have a better plan than they are letting on because I want them all to do well. One of my friends recently had a second gap year and is now really regretting it because she!!!8217;s struggling to get back into the well paid job she left... I feel really bad for her actually. She!!!8217;s so good at what she does but has lost a lot of confidence and it is taking its toll. Hopefully this time next year she will be in a completely different situation!
    • enthusiasticsaver
    • By enthusiasticsaver 1st Jun 18, 1:59 PM
    • 6,608 Posts
    • 13,897 Thanks
    enthusiasticsaver
    £8000 reduction is great so you should feel proud of yourselves and yes hopefully it will motivate you to carry on over paying the mortgage once the loans are gone.

    I find it interesting the different attitudes to finance and know many people myself who like to live for today and don't envisage what will happen in the future. Others who save every penny and are almost frightened to spend. Neither of those options appealed to us. Now people who were spending and probably in debt are still working probably for another 10 years before they can retire and tell us we are lucky to have retired at 58. I do count ourselves lucky we never had to cope with long term illness or redundancy as that can seriously impact long term finances but we did budget for holidays, new cars, home improvements and weddings/university/house deposits for our daughters so I would like to think financial discipline played its part in that.

    I am enjoying my early retirement thanks. We have been blessed with a new baby granddaughter 6 weeks ago so have been able to help out one of my daughters a bit with her 2 DDs. We are now just starting to think about holidays to do in the next few years so very exciting.

    Keep up the good work and one day you will be able to "escape the alarm too!". My feeble attempts at a joke
    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
    • EscapingTheAlarm
    • By EscapingTheAlarm 4th Jun 18, 8:45 PM
    • 102 Posts
    • 220 Thanks
    EscapingTheAlarm
    Congratulations on your new granddaughter enthusiasticsaver- that!!!8217;s lovely news!

    I!!!8217;ve had a pretty stressful day at work today and it!!!8217;s left me feeling a bit deflated... usually I!!!8217;m pretty good at keeping upbeat but I!!!8217;m worrying today whether or not I!!!8217;m cut out to take on the extra responsibility I!!!8217;ve been given recently... it has really surprised me how resistant to giving new ideas a go people can be!
    I need to keep going with it so that can keep bringing in the extra money but I!!!8217;m really really hoping that tomorrow is a better day!
    In money news, the £1000 overpayment to our loan paid off exactly £1000 from our settlement figure so we!!!8217;re feeling really good and motivated to keep going! It!!!8217;s certainly a reason to suck up the bad days at work and get on with them!

    I hope I!!!8217;m not the only one who has days like this...
    • enthusiasticsaver
    • By enthusiasticsaver 4th Jun 18, 8:51 PM
    • 6,608 Posts
    • 13,897 Thanks
    enthusiasticsaver
    I am sure you are not the only one who has days like that. I certainly remember them. Hope it gets better. Well done on loan overpayment.

    I hope you don't mind me mentioning it but are you using an apple device to post? The numbers instead of apostrophes can be stopped by going to settings, general, keyboards and turning off smart punctuation. Something went awry on the MSE forum a few months back and that seems to be the only way to get rid of the numbers.
    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
    • EscapingTheAlarm
    • By EscapingTheAlarm 4th Jun 18, 8:54 PM
    • 102 Posts
    • 220 Thanks
    EscapingTheAlarm
    Ooh thank you! I've turned it off so I'm using this post as a test to see if it's worked... I wondered why that kept happening!
    • EscapingTheAlarm
    • By EscapingTheAlarm 4th Jun 18, 8:55 PM
    • 102 Posts
    • 220 Thanks
    EscapingTheAlarm
    Hooray, it's worked! Thank you!
    • EscapingTheAlarm
    • By EscapingTheAlarm 6th Jun 18, 8:05 PM
    • 102 Posts
    • 220 Thanks
    EscapingTheAlarm
    I'm feeling much better today! I went into work yesterday feeling a bit down in the dumps but after a pep talk from my work 'Mum' and another from my boss who cared a lot more than I thought she would, I ended up being able to have a laugh about how much thicker my skin needs to get if I'm going to survive in a world where not everyone wants to try their hardest... So onwards and upwards!
    We've managed to stay on budget so far this month which is good news and means that we're on track to be able to pay another £350 off the loan come pay day! I can't wait to get rid of it!
    DH and I are now really keen to start a family and so cutting our outgoings will be really helpful for when (fingers crossed) I go on maternity leave. I've just got to keep our spending in check as much as possible!
    • enthusiasticsaver
    • By enthusiasticsaver 6th Jun 18, 11:19 PM
    • 6,608 Posts
    • 13,897 Thanks
    enthusiasticsaver
    Glad you have had a better day at work today. Good news on extra loan payment. Yes clearing your debts before maternity leave is a good idea. There are a lot of financial pressures from reduced pay when on maternity leave to the cost of kitting out a nursery and childcare costs on returning to work.
    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
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

160Posts Today

1,574Users online

Martin's Twitter