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    • Drawingaline
    • By Drawingaline 4th Dec 17, 9:37 AM
    • 494Posts
    • 1,589Thanks
    Drawingaline
    Drawing a line under the debt. Take two.
    • #1
    • 4th Dec 17, 9:37 AM
    Drawing a line under the debt. Take two. 4th Dec 17 at 9:37 AM
    So, I can't believe that I haven't updated my diary since the end of march. So much has happened in that time I feel a fresh new one is better. Here is the link to my previous one.

    http://forums.moneysavingexpert.com/showthread.php?t=5585379

    So what has happened. Well my husband FINALLY got a job! He was made redundant in April 2016 and started a new role in June 2017. In that time I was holding down two part time jobs so that we could pay the mortgage and bills and in that time I also made a bit of a dent in the debt we owed. The role he got was originally a six month contract through an agency so we were obviously concerned for the future, but within a month he was invited to apply for a full time position and got it. So since the end of September he has been back in a permanent role, and we have no concern that he won't pass his probationary period which is up just after Xmas. The job is also with a very good company, and he gets a discount card for two shops so that is great too. The only downside is that he has to take two trains to get there which is about 300 a month and he is only on what he was on in his previous job, but due to our finances being in much better shape now it is doable.

    I started YNAB in Oct 16 and have used it very carefully for the past year. I adore it and plan to keep it forever

    So what has been happening to the debt. Last time I was here I had cleared our big loan due to wanting to avoid having too much in savings because of a massive mistake by the job centre with my husband's JSA claim. He signed off the week after the interview we had with them and I was planning to xfer the child benefit to his name for his NI to be paid but then he landed the job. We have heard nothing from them at all. I still think they may try to claw back the money that we received that we shouldn't have and of course if that happens we will dispute it as we didn't lie or omit anything, it was a massive error in their part, but we will pay money back if we have to. But nothing, not a word at all

    I had managed to get the debt down from 22k to 17k with aggressive debt payments but in may I received a decent sized inheritance from a family member. Enough to buy a new (to us) car (mine finally died in early September at 17yrs old) clear 10k of debt and do some of the much needed home improvements. The reason I didn't clear all the debts was that we would have been left with nothing at all for the home improvements (and I was bored of having half a kitchen and no bath) and our back fence fell down in July so we have had a lovely new back fence out up, and am getting the back garden landscaped, had a new bathroom put in, finished the kitchen (apart from tiling, need to save for this) plastered the rest of the house, and had some new carpets out in. The relative that left the money was huge on owning your own property and I felt I needed to use some of the money to add value to the house. There is still stuff to do and I am saving for that now.

    So our debt stands at about 8k total. One loan and one interest free credit card. My go going forward is to not add to that and clear the credit card within the time limit.

    This coming year we are planning two big holidays so everything spare is going towards that, I need 3500 by the end of march, I have 1000 towards that already but debt busting will be taking a bit of a backseat while I get all this money together.

    Personally, I have quit one of my jobs. Once we knew my husband was employed full time by the company we looked at the finances and due to some quite serious issues our smallest child is having ongoing at school, we decided it was important that I was home more in the evening. Also the company that took us over a year ago are a shocking company to work for so the decision was an easy one to make and I quit my evening job. I miss it so much, it was a job I adored and I loved most of the people I worked with. But it was right for us as a family. So now I am self employed school hours, mon-fri, which is hard work. I get no time to myself and feel I am constantly playing catch up at home, but it needed to be done. The smallest boy did improve quite a bit after I finished work, but this past week has had a huge backslide again

    Anyway enough about me now, I am off to catch up on the diaries I used to follow to see what everyone has been up to. So pleased to be back
Page 7
    • Mumoffourkids
    • By Mumoffourkids 31st Aug 18, 8:48 AM
    • 697 Posts
    • 3,616 Thanks
    Mumoffourkids
    That sounds like you packed a lot into a week off!! I feel really bad that I haven't taken the kids out this summer holidays but I have been working and childcare for the holidays has cost an extra 688 on top of nursery fees so not much room in the budget for days out. I think next year I might do what you did this year and take a week, not go anywhere but do days out!

    Was the model village Beaconscot by any chance? I haven't been there for ages but we used to go all the time when I was younger as we lived so close to it!

    That sounds like a plan to clear the loan by February. Once that is gone, just think of the money that you will have as extra!!
    Total debt Dec 2017 23090.83
    SEP 2018 0 100% paid
    Emergency fund 257.38/600
    Total Savings 1672.07
    • Drawingaline
    • By Drawingaline 7th Sep 18, 8:57 AM
    • 494 Posts
    • 1,589 Thanks
    Drawingaline
    Yes Bekonscot, which is about 35 miles away but a complete pain to get to and took over an hour and a half!!!
    • Drawingaline
    • By Drawingaline 21st Sep 18, 7:36 AM
    • 494 Posts
    • 1,589 Thanks
    Drawingaline
    Been so slack at updating!!! Gettig back to routine with work and school has been hard. The smallest went back OK, some hiccups but generally doing OK. The weird one went into year 5 so have been looking at secondary options for him. I am quite concerned tbh, he slipped back massively last year, is so anxious all the time and cries every day at school over something. Luckily his classmates are awesome with him (mostly) and he tends to live in his own bubble so any negative comments tend to wash over him. But secondary is a different ball game. Went to see the secondary special needs school last night, would love him to go there, but he has no ehcp in place (never needed it) so am going to save to set more meetings up both with his school and the special needs secondary to see if we can swing it. If I can't get him in there, then he will go to the one my oldest son is at as he will be yr11 a my neice will be Yr9, so will be someone to watch out for him at least. They also have good facilities for sen kids, they have an open eve in a couple of weeks. Was less impressed with my daughters secondary school, its a good school but definitely not the right fit for him.

    Financially the tax credits went up (due to the dla award) so this month I have paid a grand total of 1050 of the loan also cleared credit card AND managed to find the money to get the back brakes done (200). All non bill categories are looking bare in ynab (not Xmas though) but am hoping that it will be cleared by the end of December!

    Have also booked theatre tickets to bat out of hell for my sister and dad's birthdays. Going in November, quite excited, but will have to budget the train and meal out of my 100 a month entertainment fund.

    Also started weight watchers online as my diet was just getting worse and worse. First month free then 13 for three months. I have three stone to lose, managed 3Ib on my own (me a my sister are having a little competition ) but aultra focused this week fingers crossed

    Anyway best get the kids up, really am planning on posting more from now on
    • Drawingaline
    • By Drawingaline 29th Sep 18, 7:05 PM
    • 494 Posts
    • 1,589 Thanks
    Drawingaline
    Lost 6Ib last week amazing what sticking to a diet will do

    Hubby has been ill for two weeks, he has a bad chest, and now it's all in his sinuses too. We were supposed to be going out drinking tonight but our friends cancelled as one of them is ill too. Taxi fare saved.

    I am feeling so poor atm, I know its for the best but just want the debt clear now. Annoyingly I think we need to do some bits to the house sooner than hoped too (gutters, drains and sofits) due to some damage and possibly a small leak too. I will have to tap into the emergency fund for this I think.

    And I am annoyed as I can no longer figure out how to subscribe to threads. I have always used my phone, gone to desktop mode and a subscribe button would be at the top of the thread. There doesn't appear to be one anymore. I don't see how firing up the laptop to look at the same site would make a difference, and I don't use the laptop ever as I is so slow.

    So if anyone has any insight into how to this let me know I am wanting to follow a couple more diaries and keep losing them
    • Drawingaline
    • By Drawingaline 29th Sep 18, 7:28 PM
    • 494 Posts
    • 1,589 Thanks
    Drawingaline
    OK, fired up the laptop, reset the password as of course I had forgotten it and my phone just prefills it! A lot of swearing later, new password, a the subscribe button is back. No idea why it had gone in the first place though. So hopefully I will be back into my money saving mojo now.
    • Drawingaline
    • By Drawingaline 9th Oct 18, 7:45 PM
    • 494 Posts
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    Drawingaline
    Feeling poor atm! Have someone coming around to look at our gutters roof tomorrow afternoon, I have 1k in our emergency fund and around 1k free a month that is currently going onto debt so hopefully the quote will be reasonable.

    Ha
    • Drawingaline
    • By Drawingaline 9th Oct 18, 7:48 PM
    • 494 Posts
    • 1,589 Thanks
    Drawingaline
    Had a lovely (and rare) day off today. Went into London to the national gallery. Child free. With another adult a wonderful five hours wandering around looking at all the paintings I adore. Such fun. Somewhat tempered when dd calls while I am on the train home to say that my mother hadn't turned up to pick the kids up from school. Although dd is 14 (I ja
    • Drawingaline
    • By Drawingaline 9th Oct 18, 7:51 PM
    • 494 Posts
    • 1,589 Thanks
    Drawingaline
    (I had asked her to meet mum at the school incase she needed help) she couldn't take the kids as my neice is under 5 as in Yr R. I had to call mum and she had forgotten. Has really made me realise that I can't rely on her like I used to. Her health is getting steadily worse and it is worrying.

    I am planning on paying less off the loan this month, I have a few things coming up and need to make sure I plan for them properly. I have bought a few Xmas presents, but I do need to plan some more. I need some lists, am late this year!
    • Drawingaline
    • By Drawingaline 13th Oct 18, 7:48 PM
    • 494 Posts
    • 1,589 Thanks
    Drawingaline
    A productive day today. Painted some boxing in I had done in the kithen back in july, spent two hours in the boys room cleaning and sorting. Dd went to school for the weekend for her DofE. She was in a foul temper this morning about the whole thing so she left on a bad note, not ideal! She also broke one of the kitchen cabinet doors, but I managed to fix it.

    Tomorrow it is harvest at church, went trough cupboards and have a bag of things for the local food bank. Organised for me! Also booked my December supermarket delivery slot. I get shopping delivered every month, and every year I forget that loads more people get delivery of Xmas food and end up having to do a full monthly food shop in store. drives me mad. I actually like getting our Xmas food in person, I just want my normal food shopping delivered so this year for the first time ever I have the slot and most of the normal shop ordered forte week before Xmas. This is when I get the money for food shopping.

    Sat down with kids to discuss Xmas lists as I got a few stocking things this afternoon. Now have a clear idea of main presents for all except the eldest boy, any shopping list in amazon is all set up. Will wait until next month to price check and if I use amazon will sign up for tee free trial for prime and then cancel.

    Tomorrow afternoon I am planning on finishing painting the conservatory and then tidying before the stress of homework

    I got paid on Friday, but didn't pay anything off the loan. Looking in my diary I realised that I had quite a few things lined up and I needed to put some money aside. I am also concerned about the quote for the gutters, I may actually have to increase the loan I need a bit more money set aside alongside paying of the loan. I have the option of a money transfer from my MBNA card so could do that if need be. I think I am going to set up a s/o to the loan for one overpayment a month. I still want it gone before next August, it should be OK.

    Just frustrated by it all!
    • Drawingaline
    • By Drawingaline 17th Oct 18, 7:15 PM
    • 494 Posts
    • 1,589 Thanks
    Drawingaline
    So the quote for the gutters/roof/drains is in 4k it will be 600 less if the back drain doesn't need digging out. But I want to get all done at once. This company may not be the cheapest, but the communication has been fantastic, and reviews on checkatrade are good, going back years so have booked it all in. I have 1k in an emergency fund, and can save another 1.5k by the end of November. I think I will do a cash advance from my credit card which will be around a 70 fee, but is 0% for a year. I have requested to increase the credit limit slightly too. I could borrow the money off my dad, he has some money put aside from his inheritance from his dad, (we got a huge chunk given to us last year) but my sister has just asked for some due to a car accident, and because we have half available I think I would rather do it myself.

    Once it's all done and the drain is sorted I am saving to get the rest of the back garden paved.

    Annoyingly I paid 230 of the loan only yesterday! Fridays payment won't go to it now, I will save it instead.

    Feel frustrated taking on more debt, but the gable ends are rotten and I wanted it sorted before winter. Was always planning on saving once the loan was gone, so next spring/summer, but the risk is iwe get a very wet winter we may actually end up with a leaking roof, not worth it in the log run just to save maybe 150 in fees and interest.
    • Drawingaline
    • By Drawingaline 18th Oct 18, 10:30 PM
    • 494 Posts
    • 1,589 Thanks
    Drawingaline
    Been trying to figure out the best way of funding this work today.

    I could add onto the loan, but this seems to be a step backwards to me. Even though I know I could clear it in 12 months I want to avoid it if possible.

    I have 1k in my emergency fund, can cah advance just shy of 1700 and have 340 free tomorrow. Then I can save another 1k by the end of November. But I will need to pay for it at the beginning of November. And I can't leave invoices, I have to pay right away! So for the first time since 2015 I have a 1000 overdraft! It will cost 50 for the month but will be cleared and cancelled by the beginning of December. The fee for the cash advance will be around 60 so total cost 110. Interest on a loan would be around 300, maybe a little less than that if I cleared it sooner, but I think this is the best way to go.
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