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  • FIRST POST
    • Mumoffourkids
    • By Mumoffourkids 15th Dec 17, 9:12 PM
    • 702Posts
    • 3,662Thanks
    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 42
    • f0xh0les
    • By f0xh0les 7th Oct 18, 8:43 AM
    • 1,954 Posts
    • 17,030 Thanks
    f0xh0les
    It is that time of year, it is starting to get darker, earlier, and when you are at home with kids, it is the time to start feeling everyone else is 'out there' and you are 'stuck' at home.

    Get out in the woods and run about a bit. While they are at home nursing their heads, yours will be clear. It was thoughtless of them not to invite you though.
    They might have thought that with the X not seeing the kids you would not be able to get a sitter at short notice (that is me being kind!).

    Keep away from F4kebook. It is evil.
    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
    • DD265
    • By DD265 8th Oct 18, 4:54 PM
    • 1,593 Posts
    • 3,529 Thanks
    DD265
    Unfortunately, I have already paid out for two paper remarks. One was for my daughter's English Language paper as she felt although she passed, she would have quite liked the next grade up. Her mark didn't change though. Then I got one of Spanish papers remarked. Her mark went up by 3 points but she needed 4 to get the next grade up. If the grades had changed, then the fees would have been refunded but alas not this time. I do get what you are saying about not bothering but it was something she really wanted and I was happy to try for her. I almost covered it last month and will just make the rest up this month.
    Originally posted by Mumoffourkids
    If I ever have children, I hope that this is how I would choose to parent them. I think it shows your daughter that you trust her, support her and that you have her back.
    • Mumoffourkids
    • By Mumoffourkids 9th Oct 18, 9:36 AM
    • 702 Posts
    • 3,662 Thanks
    Mumoffourkids
    Having a moan is ok.
    I too feel lonely sometimes.
    Originally posted by beanielou
    Thanks for your reply. It is hard and I shouldn't really feel lonely with the amount of kids I have around me!

    Just wanted to say well done. Its been a month or two since I last looked on your dairy and I am purposely posting this before I read the pages I missed. The money you have paid off is unreal. You are truly showing that even though things can get people in a pickle there is a way out. Its a wow/I'm so envious response. Ha ha. . I will now read the missing pages I haven't seen. I hope all has been as well as can be although I see the ex is beings pain.. boo
    Originally posted by NeverendingDMP
    Thank you and not usre how interesting the last couple of pages will be!! I have gotten lucky with some of my debts but I have still paid a load off. I am annoyed that I have had to take out more debt to buy a new car but I am determined to get it paid off asap. Yes the ex is being a pain but he is being funny with the kids as well. My 12 year old asked about their toys which are at his house. She asked when they could get them, his response was he is too busy doing other stuff at the moment to get them to the kids! What kind of man doesn't put his kids first?

    I'm sorry you're feeling a bit blue about being lonely, and your ex being a disaster area. You are doing so amazingly. I cannot get my head round double the number of people to manage (I have three DC) and am filled with admiration that you manage it at all, never mind with all the extra baggage.

    I know what you mean about being out of sight, out of mind, with your friends. Maybe mention to your one close friend that you'd love to go out more and see if something grows from it. And if not, perhaps you can find a way to meet more people and expand the social pool a bit (easier said than done, I know. Maybe a group or something)
    Originally posted by Treadingonplaymobil
    Yes my ex husband is a disaster. I get the feeling his new girlfriend could be something to do with it but I could be wrong. She only has one grown up daughter so I get the feeling she likes to spend time just my ex and her, but she knew that he had young kids when they got together so he should put his foot down and see his kids. They also bought a five bed detached house together so he could have the kids over to stay but that hasn't really happened!

    And thanks I am not sure how I cope sometimes but I guess I have to. I have no choice really as I am doing it by myself now apart from a Sunday for a few hours when the dad of my youngest sometimes has her and my youngest boy. But then that;s normally only for about 4 hours and its not every week.

    I will mention it to my friend but I know she struggles with money so can't always go out. Her husband also seems to go out a bit or work at weekends so she has to look after their kids. I think I need to find some new friends but as I haven't grown up where I live, it is hard to meet new people, especially as I don't get out much. I tend to drop the kids at school, then go to work and then back home again. I think I need to find a new hobby that gets me out of the house one evening a week, when the kids aren't doing clubs though!!
    Total debt Dec 2017 £23090.83
    SEP 2018 £0 100% paid
    Emergency fund £257.38/£600
    Total Savings £1672.07
    • Mumoffourkids
    • By Mumoffourkids 9th Oct 18, 9:39 AM
    • 702 Posts
    • 3,662 Thanks
    Mumoffourkids
    It is that time of year, it is starting to get darker, earlier, and when you are at home with kids, it is the time to start feeling everyone else is 'out there' and you are 'stuck' at home.

    Get out in the woods and run about a bit. While they are at home nursing their heads, yours will be clear. It was thoughtless of them not to invite you though.
    They might have thought that with the X not seeing the kids you would not be able to get a sitter at short notice (that is me being kind!).

    Keep away from F4kebook. It is evil.
    Originally posted by f0xh0les
    Yes it does feel that way, that every one else is going out and I am stuck in a lot with the kids or ferrying them to various clubs!

    We did actually go to the local woods last Sunday as it was nice being out with the kids. I will have to try that a bit more but this Sunday is back to rugby matches!

    They know that my eldest will babysit so that's not really the thing as my ex husband didn't see the kids that much before anyway. I like your thinking though, trying to see a reason why.

    If I ever have children, I hope that this is how I would choose to parent them. I think it shows your daughter that you trust her, support her and that you have her back.
    Originally posted by DD265
    Thank you for this message. I would do anything for my kids, even though they do wind me up a lot of the time! I stick up for them if I believe they have been wronged in anyway!
    Total debt Dec 2017 £23090.83
    SEP 2018 £0 100% paid
    Emergency fund £257.38/£600
    Total Savings £1672.07
    • Kitten868
    • By Kitten868 9th Oct 18, 10:00 PM
    • 1,060 Posts
    • 2,537 Thanks
    Kitten868
    Congratulations on paying off all your historic debt! Im desperate to know how the Lloyds PPI went or are you still waiting on the ombudsman?
    I'm sorry about your ex. I love that in trying to save £190 a month he's cost himself an extra £80! Stupid selfish man. The good news is that the kids have you. They have a constant to rely on keep your head up. Xxxx
    Loan 1 £5400/£8000
    Loan 2 £3400/£5800
    Total £8800/£13800 36% PAID

    And CC £1475/1900
    • Mumoffourkids
    • By Mumoffourkids 11th Oct 18, 1:48 PM
    • 702 Posts
    • 3,662 Thanks
    Mumoffourkids
    Congratulations on paying off all your historic debt! Im desperate to know how the Lloyds PPI went or are you still waiting on the ombudsman?
    I'm sorry about your ex. I love that in trying to save £190 a month he's cost himself an extra £80! Stupid selfish man. The good news is that the kids have you. They have a constant to rely on keep your head up. Xxxx
    Originally posted by Kitten868
    Hi Kitten, In the end the Ombudsman sided with Lloyds. I'm not too fussed as it was only a small amount of PPI that I paid and it was so long ago.

    I know it is so funny that he now has to pay more each month. He has set up a standing order so it goes straight into my bank each week now and I don't have to wait for him to transfer it manually. I am waiting on him doing something though to get back at me. Like take me to court or something as he thinks that I financially screwed him over. Not sure how as he is the one who owns a five bed detached house and a newer car than mine, but hey that's what he thinks.

    My kids are slowly realising now I think and the middle two haven't even asked when they are next seeing their dad. I decided not to tell them and they haven't asked so they seem happy enough.

    I am doing really well with my extra income as well. I haven't got my figures to hand but I think I only have about £150 to find before the end of the month but I will update later when I get home from work. I am by myself at work today and working an extra day tomorrow and next Friday to cover for my colleague who is moving house next week.

    I suppose I had better get on with some more work.
    Total debt Dec 2017 £23090.83
    SEP 2018 £0 100% paid
    Emergency fund £257.38/£600
    Total Savings £1672.07
    • Kitten868
    • By Kitten868 12th Oct 18, 10:48 AM
    • 1,060 Posts
    • 2,537 Thanks
    Kitten868
    I don't think it's strange to feel lonely when you have 6 kids. I think it's normal. I also think it's normal to feel like all you do is ferry them about. I'm actually rather impressed you find time to go for your personal trainer sessions. Why don't you organise a night out? I always think it's better to not get upset at not being invited but to turn it around and be sure to invite everyone. Show them that you are going out and want to be included. I'm not saying you're wrong to be upset - you're really not but don't let it suck up all that great energy you have.
    You are at a tough point - you've got gcses and kids who don't get 30 hours yet. All the tricky bits but from both ends. You know it'll get easier soon.
    So with the extra money from ex is that another £60 towards the extra money to find? Xxxx
    Loan 1 £5400/£8000
    Loan 2 £3400/£5800
    Total £8800/£13800 36% PAID

    And CC £1475/1900
    • Seasidegal58
    • By Seasidegal58 13th Oct 18, 10:23 AM
    • 2,350 Posts
    • 14,518 Thanks
    Seasidegal58
    You're doing so well and I agree with Kitten that perhaps take the lead in organising a night out.

    Your ex will be the loser in years to come if he carries on like he has been doing with the children. The kids will remember things he does and phase him out of their lives - I know because this is what my DD did.
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 10/11/2018 - £1801.03
    MONTHS TO RETIREMENT: 29
    My diary: “Paid off the £31,0000! BUT- still scrimping!”
    • Mumoffourkids
    • By Mumoffourkids 13th Oct 18, 6:23 PM
    • 702 Posts
    • 3,662 Thanks
    Mumoffourkids
    I don't think it's strange to feel lonely when you have 6 kids. I think it's normal. I also think it's normal to feel like all you do is ferry them about. I'm actually rather impressed you find time to go for your personal trainer sessions. Why don't you organise a night out? I always think it's better to not get upset at not being invited but to turn it around and be sure to invite everyone. Show them that you are going out and want to be included. I'm not saying you're wrong to be upset - you're really not but don't let it suck up all that great energy you have.
    You are at a tough point - you've got gcses and kids who don't get 30 hours yet. All the tricky bits but from both ends. You know it'll get easier soon.
    So with the extra money from ex is that another £60 towards the extra money to find? Xxxx
    Originally posted by Kitten868
    I will try and organise a night out but I don't really have many close friends where I am. I have only lived here for 4 years since the move back from France and so don't really know that many people. Added to that I am quite unconfident really and probably appear a bit rude. I don't tend to let my guard down easily.

    However, saying that, at work I have been organising someone's 50th birthday party which is next Saturday. The lady whose birthday it is keeps saying I should come along. I don't really want to go by myself so I might ask my colleague at work if she wants to come with me and have a mini night out. I probably won't drink as it's not really that close to home and I don't fancy trying to get home late at night!

    Yes I know it will get easier soon, but as you say, I have both moody teenagers and little ones, so it is a drain on my energy. Today I have done literally nothing and even had a nap on the sofa with the two youngest this afternoon.

    The extra money is going towards our Disneyland Paris trip. My ex husband didn't pay any maintenance in September as I called CMS a week before he got paid and they told him not to pay until the amounts were all agreed. So I should have had about £600 to put towards the trip in September but had nothing. So the extra he is paying me is going towards catching up on myself.

    You're doing so well and I agree with Kitten that perhaps take the lead in organising a night out.

    Your ex will be the loser in years to come if he carries on like he has been doing with the children. The kids will remember things he does and phase him out of their lives - I know because this is what my DD did.
    Originally posted by Seasidegal58
    My oldest has already twigged and has asked if she has to have her dad walk her down the aisle when she gets married. I said no, she can have anyone she wants as it is her day. She said good, I want you to walk me down the aisle mum. So that is an amazing thing for me to hear. I think the next daughter is also learning what he is like. I have to try really hard not to put him down in front of the kids but it is so hard to keep my mouth shut.

    So in terms of extra income I like to make in the month, this has been a good week. I have managed to save £20 from my petrol budget. The other budgets have pretty much been used up due to paying for a Spanish tutor for my eldest, paying for school trips, buying some much needed toiletries from Avon etc. But the petrol budget is going well seeing as no long trips to drop the kids off anymore and rugby is at home tomorrow.

    Also I got given a £25 incentive for writing a review about the place I bought my car from. So for less than 5 minutes work, they gave me £25

    I also got back on with Prolific Academic this week, cashed out £5 and have another £7 on there waiting for cash out.

    Matched betting has been going well and I have in total earnt £140 this month already with another £36 waiting for the money to hit my bank and another possible £16 from free bets tomorrow and Monday. I know it's a possibly addiction for some people but I am very careful not to stretch myself and only play where there is a guaranteed profit from free bets.

    So update on the extra income this month:

    Extra income £302.07/£394.45 76.58%

    The above only includes £10 of petrol savings as I don't want to leave myself short in case of an emergency tomorrow (my petrol budget resets itself on Monday). It also doesn't include the matched betting profits that haven't hit my account yet. So out of the £92.38 still to find for the month, I have around £62 already pending so only £30 left to find. That should be easy enough but there probably won't be any petrol savings next week as the rugby match on Sunday is around an hours drive away.
    Total debt Dec 2017 £23090.83
    SEP 2018 £0 100% paid
    Emergency fund £257.38/£600
    Total Savings £1672.07
    • Kitten868
    • By Kitten868 13th Oct 18, 7:43 PM
    • 1,060 Posts
    • 2,537 Thanks
    Kitten868
    I never said you had to be confident. You just have to pretend to be. If your fake confidence ever runs short remember your kids are watching you and then you find the strength to be fake confident some more. The best thing about fake confidence is that it gets easier and easier. Fake to you make it... well becomes more real. 4 years is enough time - you're not brand new but still new enough to talk to new people legitimately. You deserve to make friends and have fun for yourself without your children. You are not just a mum. You're an interesting person with a wealth of interests that extend beyond wiping bums and SATs. If I'm nervous about going somewhere or to meet some one I wrote down conversation points with follow ons. I'm on the spectrum so that may be too far for some people but I find if I know what to say I'm less shy. You should go to your party for sure. You planned it!

    I'm hoping for your sake there is back pay. I hope you get a good lump paid to put you back on track for Disney. And well done on keeping your mouth shut. But you can say facts. So touched that your daughter wants you to walk you down the aisle. Xxx
    Loan 1 £5400/£8000
    Loan 2 £3400/£5800
    Total £8800/£13800 36% PAID

    And CC £1475/1900
    • Honeysucklelou2
    • By Honeysucklelou2 13th Oct 18, 9:57 PM
    • 1,228 Posts
    • 5,859 Thanks
    Honeysucklelou2
    Having children at both toddlerhood and teenage is amazing and does make for an interesting life but you run with it when it's your normality. I often wonder why I'm tired and you are right, having both age groups and others in between can be tiring.
    paydbx #93 £929.08/£8,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £2994 in Aug 18
    • Mumoffourkids
    • By Mumoffourkids 18th Oct 18, 11:03 AM
    • 702 Posts
    • 3,662 Thanks
    Mumoffourkids
    Ok so I have exceeded my extra income target for the month by £24.61. Anything extra I make between now and the end of the month will go towards our holiday. But if all goes to plan, I will have nearly £900 to go towards the holiday this month without any extra that I make.

    Next month's target is £250 as I think on a reasonable month I can make £200 extra with £50 extra to be made to go into my Help to Save account.

    I have done a couple of extra days at work this month though covering for my colleague who is moving house so I should have some extra there which will hopefully be the £50 hit already.

    My house still needs some tidying and sorting out and I need to get the middle two kids into a better night time routine so they go to sleep a bit earlier.

    This weekend is going to be on the go again probably. Saturday eldest is at work so will need dropping off and picking up, next daughter wants to go to her friend's house for the day so again will need dropping off and picking up and then Sunday it is off to rugby again. The two oldest girls are playing about 60 miles away so no saving on petrol this week, but my ex will have the two little ones for me for the day so I don't have to drag them out for the day.

    I need to organise passports for me and three of the kids before our trip so that is a must do over the half term holiday. Along with three of the kids having flu vaccinations!

    Right must get back to work as have a long list to complete today and tomorrow as well as answering the phone and generally running the place as no one else is in!
    Total debt Dec 2017 £23090.83
    SEP 2018 £0 100% paid
    Emergency fund £257.38/£600
    Total Savings £1672.07
    • beanielou
    • By beanielou 18th Oct 18, 9:25 PM
    • 58,653 Posts
    • 243,093 Thanks
    beanielou
    Well done
    I dont know how you do it!
    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.***
    • litepay
    • By litepay 18th Oct 18, 9:33 PM
    • 44 Posts
    • 45 Thanks
    litepay
    Whenever I read the title of your thread I'm like "how is she able to do this and I'm struggling with one child". How come I'm always tired? OP, you have my deepest admiration...
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