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  • FIRST POST
    • Mumoffourkids
    • By Mumoffourkids 15th Dec 17, 9:12 PM
    • 702Posts
    • 3,663Thanks
    Mumoffourkids
    Single, six kids and going to be debt free!
    • #1
    • 15th Dec 17, 9:12 PM
    Single, six kids and going to be debt free! 15th Dec 17 at 9:12 PM
    Okay, so I finally decided to face up to my debts and now my income is pretty much stable, I can now budget and work out how much to pay. My soa is below and I believe I have budgeted for everything. I know I have a big surplus but this is only recent and from the new year I want to start paying everything off.

    I know that if I threw everything at the debts that I could be debt free a lot sooner but I can't expect the kids to live like that really.

    So I calculated that if I pay £500 off my debts each month, then I will be debt free in 44 months, so three years and 8 months. However, as my old debts are not currently being paid, I plan on offering them minimal payments at the moment and then save up to offer them full and final settlements so hopefully I can be debt free sooner.

    Next is to find some challenges to join!

    Statement of Affairs and Personal Balance Sheet

    Household Information
    Number of adults in household........... 1
    Number of children in household......... 6
    Number of cars owned.................... 1

    Monthly Income Details
    Monthly income after tax................ 900
    Partners monthly income after tax....... 0
    Benefits................................ 3527.64
    Other income............................ 975
    Total monthly income.................... 5402.64

    Monthly Expense Details
    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 1200
    Management charge (leasehold property).. 0
    Council tax............................. 93
    Electricity............................. 120
    Gas..................................... 10
    Oil..................................... 0
    Water rates............................. 63.54
    Telephone (land line)................... 10
    Mobile phone............................ 51.81
    TV Licence.............................. 12.37
    Satellite/Cable TV...................... 39.98
    Internet Services....................... 10
    Groceries etc. ......................... 433.33
    Clothing................................ 100
    Petrol/diesel........................... 260
    Road tax................................ 25.83
    Car Insurance........................... 120
    Car maintenance (including MOT)......... 100
    Car parking............................. 0
    Other travel............................ 10
    Childcare/nursery....................... 1000
    Other child related expenses............ 140
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 7.27
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 150
    Haircuts................................ 0
    Entertainment........................... 303.33
    Holiday................................. 50
    Emergency fund.......................... 0
    Total monthly expenses.................. 4310.46


    Assets
    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 500
    Other assets............................ 0
    Total Assets............................ 500

    No Secured nor Hire Purchase Debts

    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Overdraft......................1000......30....... .0
    Catalogue......................247.......60....... .0
    Catalogue......................593.......35....... .0
    Old debts......................20000.....0.........0
    Tax credits....................410.......0.........0
    Total unsecured debts..........22250.....125.......-


    Monthly Budget Summary
    Total monthly income.................... 5,402.64
    Expenses (including HP & secured debts). 4,310.46
    Available for debt repayments........... 1,092.18
    Monthly UNsecured debt repayments....... 125
    Amount left after debt repayments....... 967.18

    Personal Balance Sheet Summary
    Total assets (things you own)........... 500
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -22,250
    Net Assets.............................. -21,750
Page 34
    • beanielou
    • By beanielou 13th May 18, 11:55 AM
    • 58,912 Posts
    • 244,536 Thanks
    beanielou
    Have a lovely Sunday
    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. ***Be the difference.***
    • Mumoffourkids
    • By Mumoffourkids 14th May 18, 10:14 PM
    • 702 Posts
    • 3,663 Thanks
    Mumoffourkids
    You know that just happens sometimes.
    Even further down the line it just happens.
    I have been on my own a long time & I am ok with saying that just someti,mes I wish there was someone just for me.
    Originally posted by beanielou
    I think it was just I was feeling down. I know I am far better off being by myself at the moment, but it is hard sometimes.

    It is the sunshine, and all that bare flesh that does it.

    Exes tend to be exes for a reason.

    Keeping a man has costs -monetarily or emotionally.

    Hope you feel cheerier this morning. Sorry you are feeling lonely.

    You need to sort you out before going down that path.
    Originally posted by f0xh0les
    I will try and sort myself out first. I know that most of the time I am happy being by myself and having a man interrupt my routine would be awful.

    So the list got carried over to today but I did get some more bits done.
    - Tip run
    - Sort out sheets and duvet covers and put away nicely
    - Cut the grass (front and back)
    - Weed the borders and pots
    - Weed the front path and back path
    - Reply to tax credit letter - started a reply online, I need to scan or photograph my documents next
    - Sort CV for DD1
    - Do letter for nursery
    - Tidy middle floor of house - Done and hoovered
    - Clean bathrooms - all cleaned now
    - Tidy garage
    - List more items for sale on FB
    - Send off phone to CEX
    - Chase Ex's repayment from HMRC
    - Sort out kids clothes and see if they need anymore clothes for holiday

    So today I got quite a bit done. I not only sorted through and decided what clothes the kids needed, I also went and got most things as well. So that should be all the clothes needed for our holiday in less than two weeks!

    The house is tidier, not amazing but definitely getting there. The garage is tidier and I think once I am back from holiday, I will carry on sorting out more bits to sell.

    In good news, one of DD1's birthday presents went missing. UPS tried to deliver a while ago but didn't leave a card and delivered to a local shop. I thought I hadn't received it so I went onto tracker and found it had been delivered to this shop. The first time I could make it there, it turns out it had been picked up again the day before. So I phone UPS and they say they would rearrange delivery. I was a bit confused as to whether they would deliver to me or the shop. Nothing came to me so I went to the shop, and it wasn't there either. So in my busy life, I completely forgot and then remembered last Friday, so I tracked it again and it was saying it was being held at the depot for instructions. I called UPS and they admitted that they had lost my parcel and didn't know where it was. I phoned the online shop and they phoned UPS. Because the items I had bought were in the sale, there weren't any left. So I got a refund for the items and I was going to try and find something different. The parcel then turned up and UPS phoned me to say they would deliver that evening. So I got the items for free!! I am very impressed.

    Sorry that turned out to be quite a long story there but the upshot is that I am better off by £78 and my daughter still has the present!

    Right most things are ready for the morning so I am off to bed now.
    Total debt Dec 2017 £23090.83
    SEP 2018 £0 100% paid
    Emergency fund £257.38/£600
    Total Savings £1672.07
    • beanielou
    • By beanielou 14th May 18, 10:28 PM
    • 58,912 Posts
    • 244,536 Thanks
    beanielou
    Good news on the present in the end.
    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. ***Be the difference.***
    • Mumoffourkids
    • By Mumoffourkids 16th May 18, 9:57 PM
    • 702 Posts
    • 3,663 Thanks
    Mumoffourkids
    Yes very good news on the present. So I put half back into present fund and half into holiday savings fund.

    So yesterday was a bad day as the state of the house was getting me down and I was shattered. Today has been better as I have managed to get the downstairs tidy and clean. The kids helped as well which was good.

    No money saving news to update on, really busy at work and could do with working another day to try and catch up. Also I only have tomorrow and next week to get loads done as we then go on holiday a week on Saturday for a week. I am really looking forward to going away as I really need a break. I'm going to try and plan things to do each day on holiday although we will probably spend a lot of time swimming in the pool and at the beach!
    Total debt Dec 2017 £23090.83
    SEP 2018 £0 100% paid
    Emergency fund £257.38/£600
    Total Savings £1672.07
    • beanielou
    • By beanielou 16th May 18, 10:08 PM
    • 58,912 Posts
    • 244,536 Thanks
    beanielou
    Not long til your holidays
    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. ***Be the difference.***
    • Mumoffourkids
    • By Mumoffourkids 18th May 18, 1:27 PM
    • 702 Posts
    • 3,663 Thanks
    Mumoffourkids
    Ok so not been on for a couple of days but have been mega busy at work. And then been running around after kids in the evening.

    But today has been good. Eldest is off school as she doesn't have any exams but she cracked the screen of her new phone a couple of weeks ago. Well she didn't do it, one of her friends did but no one owned up to who did it. I haven't had chance to sort anything out and it was still working well until last night it was. Then the screen just went black. So today we researched getting the screen fixed. Apple wanted £180 to fix it but I found some reviews on FB for a local shop who did it today while we waited for £60. Very happy with that and I now have a very grateful teenager who will do what I want for a while!

    Then I have been looking at getting a new car stereo as my CD player doesn't work in there and I wanted to get one with bluetooth. Found one on Amazon for £20 which came today. Me and my daughter managed to get the old one out and the new one in and fitted properly. Just needed to buy an aerial antenna adaptor for £5 from Halfords and it all works! Who needs a man when you can do things like this yourself. I know it was more of a want than a need but the money has come out of my car fund and for £25 I don't think that's too bad at all.

    Spending the afternoon trying to get my songs from itunes on the kids laptop onto my phone so I can then play them in the car. Will be very useful on the long drive down to Cornwall for our holidays!
    Total debt Dec 2017 £23090.83
    SEP 2018 £0 100% paid
    Emergency fund £257.38/£600
    Total Savings £1672.07
    • beanielou
    • By beanielou 18th May 18, 5:44 PM
    • 58,912 Posts
    • 244,536 Thanks
    beanielou
    Good news on your DD's phone.
    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. ***Be the difference.***
    • Mumoffourkids
    • By Mumoffourkids 19th May 18, 8:52 AM
    • 702 Posts
    • 3,663 Thanks
    Mumoffourkids
    Thanks Beanie.

    So I have just updated my signature as I just paid another amount off my debt. I got a letter this morning which both of my outstanding debts are now managed by Cabot. I'm now in the 4's which is amazing but just need to work out how to increase income a bit in order to pay down a bit quicker.

    Whilst on the cabot site this morning, it does have an option to submit a full and final settlement so now I am thinking about maybe trying that for one of the debts after my holiday next week. I'm not sure how this will affect my credit file though.

    In other news, going to try and take the kids out this afternoon and use our theme park passes as it is going to be a lovely day.

    I hope everyone else is going to enjoy their days.
    Total debt Dec 2017 £23090.83
    SEP 2018 £0 100% paid
    Emergency fund £257.38/£600
    Total Savings £1672.07
    • beanielou
    • By beanielou 19th May 18, 11:10 AM
    • 58,912 Posts
    • 244,536 Thanks
    beanielou
    Your totala are awesome
    Enjoy your day
    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. ***Be the difference.***
    • Storm89
    • By Storm89 20th May 18, 9:55 AM
    • 174 Posts
    • 1,391 Thanks
    Storm89
    Fabulous! Hope you enjoyed the theme park
    • beanielou
    • By beanielou 20th May 18, 11:36 AM
    • 58,912 Posts
    • 244,536 Thanks
    beanielou
    Hope you had a good day.
    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. ***Be the difference.***
    • Mumoffourkids
    • By Mumoffourkids 22nd May 18, 11:40 AM
    • 702 Posts
    • 3,663 Thanks
    Mumoffourkids
    Well where on earth did that weekend go. It went past far too quickly and I am now back at work. I spent far too much money and haven't updated my spreadsheet to reflect the money spent. Some will come from the house fund and some from the clothes fund as I bought some sewing patterns to make the kids some clothes! I managed a dress for the smallest and half a jumpsuit for the 8 year old yesterday. This evening I hope to finish the jumpsuit and start on a jumpsuit for the 12 year old. Having the sewing machine out again is a lovely way to spend the evening rather than sitting on my phone so I hope to do more of that and keep making the kids some clothes.

    I still need to look into selling the load of stuff I have on the top landing as I have been really slack with that recently. But this Saturday we go on holiday so that will have to take a back seat until we come back.

    I have however, booked the two smallest into nursery on a Friday so I will have the day to myself to catch up on housework, gardening and selling stuff. I may have to go into a work maybe once a month but that's extra money which is good news.

    Right best get back to work as I need to get everything done this week before I go away!
    Total debt Dec 2017 £23090.83
    SEP 2018 £0 100% paid
    Emergency fund £257.38/£600
    Total Savings £1672.07
    • Mumoffourkids
    • By Mumoffourkids 30th May 18, 7:42 AM
    • 702 Posts
    • 3,663 Thanks
    Mumoffourkids
    So currently on holiday and only three days left. The weather hasn!!!8217;t been amazing but apart from this morning it hasn!!!8217;t rained. The kids are mostly behaving themselves which is great and we are enjoying time together as a family. My budget for holiday is going well and I hope to come back with some money as well. Oh and I won a little bit on bingo so that!!!8217;s always a bonus. I have also booked to come back next year in may half term. Deposit is only £20 and I have a year to save for it which once my debts have gone should be easy!
    Total debt Dec 2017 £23090.83
    SEP 2018 £0 100% paid
    Emergency fund £257.38/£600
    Total Savings £1672.07
    • beanielou
    • By beanielou 30th May 18, 8:51 AM
    • 58,912 Posts
    • 244,536 Thanks
    beanielou
    Glad you are having a good time
    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. ***Be the difference.***
    • Mumoffourkids
    • By Mumoffourkids 2nd Jun 18, 8:54 PM
    • 702 Posts
    • 3,663 Thanks
    Mumoffourkids
    So I'm back from holiday and have a total of £20 left in the holiday budget! We did spend a lot but as this is our main summer holiday and it was good to spend quality family time together I don't mind!

    So today has been spent unpacking the car and catching up on the washing. Three loads done and dried out on the line, will finish the rest tomorrow.

    Also I dropped the middle two kids off at their dad's on the way back from holiday, DD2 has gone to her friend's for a sleepover tonight and the oldest has gone out with her friend tonight. So its just me and the youngest two tonight and they are both fast asleep.

    I have done the online shopping delivery for Monday, updated my budget spreadsheet and sorted out the garden. I have harvested some strawberries from my plants in the garden and have watered the rest of the plants.

    So now I need to get together a list of things to do over the next month. One of the main things is to try and clear some of the clutter on the top landing. This is where I have been storing the items that I want to sell. I might even attempt a car boot!

    Anyway, I am off to bed now as I am shattered from a six and half hour drive this morning!

    Will be back on tomorrow to add my list for the month and a target for extra money I want to make.
    Total debt Dec 2017 £23090.83
    SEP 2018 £0 100% paid
    Emergency fund £257.38/£600
    Total Savings £1672.07
    • brizzlegirl
    • By brizzlegirl 2nd Jun 18, 9:47 PM
    • 448 Posts
    • 2,988 Thanks
    brizzlegirl
    Glad everyone had a great time and that you were able to keep to your budget and have fun
    MFW..aiming to pay it off in 2022.. 2018 Savings Rate - Goal 40% [29%May 25%June 15%July 32% Sept & Oct 0% Nov ] 2018 Income Goal £125/£750 December Goals: AFDs 03/25; Decluttering 15/60; LSDs 03/10; NSDs 01/10 Exercise 01/15 12k steps per day pls Aiming to be a true Frugalista!
    • beanielou
    • By beanielou 2nd Jun 18, 9:57 PM
    • 58,912 Posts
    • 244,536 Thanks
    beanielou
    What brizzled said
    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. ***Be the difference.***
    • f0xh0les
    • By f0xh0les 3rd Jun 18, 9:24 AM
    • 1,964 Posts
    • 17,171 Thanks
    f0xh0les
    Back from holiday with money in your pocket is always a win.

    Glad you had such a great time.

    Back to 'normal' until the end of summer term now, boo!
    MFW STARTMay 16 £118,340 : Oct17 - £109,49Dec17 £108,80Jan 18 £108,39 Mar18 £108,50 Apr£108,10May£106,99Jun105,99.Jul105,30 Aug£103,99 Sep£102,999 Oct£101,999 Nov£101,300
    £100, 896.17 sub £100k by 2019Mortgage-free wannabe 2018 #65
    Referal code- https://doblotto.com/r/1f87a3
    • Mumoffourkids
    • By Mumoffourkids 3rd Jun 18, 3:00 PM
    • 702 Posts
    • 3,663 Thanks
    Mumoffourkids
    Glad everyone had a great time and that you were able to keep to your budget and have fun
    Originally posted by brizzlegirl
    What brizzled said
    Originally posted by beanielou
    Back from holiday with money in your pocket is always a win.

    Glad you had such a great time.

    Back to 'normal' until the end of summer term now, boo!
    Originally posted by f0xh0les
    Thanks everyone. I know all back to normal-ish until the summer holidays. Well as normal as it can be in this house.

    My eldest finishes her exams in two weeks so I am trying to convince her to take the middle two to school on the days I work. I am happy to pay her but it would still be less than what I pay for them to go to breakfast club at the school and it would mean that I could get to work slightly earlier.

    She has her prom in four weeks and we have the girls rugby end of season dinner in two weeks. Then the eldest is going off on her NCS thing the middle of July. But at least my expenses should remain fairly fixed up until the summer holidays.

    I still need to think of what I need to do in the next month. The house is clearer and most of the rubbish has gone so that doesn't need doing. However I have a lot of stuff to get rid of in some way or the other so that has to be my priority for the next month.

    I'm going to start a list here of what I need to do this week at least.
    • Send off Iphone 5S to CEX
    • Contain High school for girls for look around for DD1
    • Contact High school for Boys for DD1 for look around
    • Contact nursery about fees for June
    • Make jumpsuits for DD2, DD3 and DD4
    • Plant more lettuce seeds
    • Go to the gym at least three times a week
    • MEal plan each week
    • Do Flylady thread!!
    Total debt Dec 2017 £23090.83
    SEP 2018 £0 100% paid
    Emergency fund £257.38/£600
    Total Savings £1672.07
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 3rd Jun 18, 4:35 PM
    • 1,770 Posts
    • 9,010 Thanks
    wishingthemortgaheaway
    A great plan. I'm assuming the boys high school takes girls in the VI form if Dd1 is interested in going there?
    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 April 19/100 May 20/100 June 21/100 Dec: 28/100
    MFW 2019 Challenge Member #59: 0/£2860
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