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  • FIRST POST
    • Penny2myName
    • By Penny2myName 1st Jan 18, 5:58 PM
    • 1,597Posts
    • 4,554Thanks
    Penny2myName
    2018 repair build and have a decent Credit Record
    • #1
    • 1st Jan 18, 5:58 PM
    2018 repair build and have a decent Credit Record 1st Jan 18 at 5:58 PM
    I have been on and off the site for 10 years now. I have been in a cycle of having debt and clearing debt and having debt and clearing debt etc. I am now after buying the house I live in so need to get a decent Credit rating. Due to this I took out a credit card and a small loan which I never actually received the money, it is through one of my preload cards. I pay 5.95 a month on it for 1 year, if my understanding of it was correct I actually do receive the 71 at the end of the year. If not at least it has been something that helps to build up a record. I have 29 left on it, April being the final payment.

    I also got a credit builder credit card that the APR goes down each year. Was doing really well at first and kept it paid off in full each month for the first 6 months or so, but then I must admit I used it for a holiday to celebrate our 1st wedding anniversary. So now I have a large amount to pay off. At present my balance is 3137.64 with APR of 29.9% it did start as 34.9%. My original plan was to have a catalogue and use the CC to pay the Catalogue off each month, but like I said I ended up doing the holiday.

    I will confess I have this pass year replaced everything in the house via the catalogue, Some essential some not. The electric fire and surround where a pure indulgence on my part, essentially it is my most expensive Christmas ornament. My balance on the Very catalogue is 2585.29 with an APR of 49.9% most items I have I have bought on BNPL and apart from last months everything has been paid off before I was due to start paying for it, I have 1009.34 I now need to pay off before my April statement which I am now being charged interest on. my plan is to pay 350 a month off for the next three months, more if possible. If I find I can easily cope with this amount coming out of my bank each month, then I will set that up as a regular payment, getting it cleared in 8 months.
    I do have a second catalogue account with JD Williams with a balance of 166.25 but I am unable to find what my APR with them is so I shall totally clear that one way or another this month. It is only there as my DH is a rather large guy and I can not buy clothes to fit him easily.

    At present I do have 200 a month going into a regular saving accounts which has its final payment in April. Originally it was 300 but I had to reduce it back in Oct. This is my savings towards legal expenses/fees for when I go to buy the house.

    Thinking back I have wasted a lot of money on pizza take out during 2017, and really need to sort this out. I guess one of the reasons I am starting a debt diary again is because I am so tempted today to order take out. I have already been organized in one aspect of my life and that is getting my train tickets for work bought for January. I don't do enough days to warrant buying a monthly ticket, and sometimes I will be offered a life home, but I would rather know that all my travel to work is sorted for this month.

    Another area I need to get organized in sorting again is batch cooking. Tomorrow I will go to butchers and do a large meat shop for hubby and son ( I am veggie). Then it is just a case of remembering to take the meals out of the freezer to defrost.

    I guess for now that is it, but I will probably come back later on today to add more aims for this year, I have been working nights so am still waking up and not really sorted through everything yet in my head let alone financially.

    Penny
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
Page 1
    • redofromstart
    • By redofromstart 1st Jan 18, 6:50 PM
    • 1,761 Posts
    • 10,740 Thanks
    redofromstart
    • #2
    • 1st Jan 18, 6:50 PM
    • #2
    • 1st Jan 18, 6:50 PM
    Good luck with your journey. 49.9% APR ouch
    • Penny2myName
    • By Penny2myName 1st Jan 18, 7:01 PM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    • #3
    • 1st Jan 18, 7:01 PM
    • #3
    • 1st Jan 18, 7:01 PM
    yeah I know, OH CC is 59.9% though he has never used it, but that is due to the fact he has never had anything in his name so no record at all. So we got him one to start making a foot print, as well as forcing him to have a sim only deal rather than payg to make a foot print, at the great cost of 4 a month.
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
    • Penny2myName
    • By Penny2myName 1st Jan 18, 8:09 PM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    • #4
    • 1st Jan 18, 8:09 PM
    Challenges
    • #4
    • 1st Jan 18, 8:09 PM
    I have looked at some of the challenges up for 2018 and have decided to partake in two of them, the 2018 Frugal Living Challenge, and the January NSD 2018 Challenge. I have committed to 3 days a week NSD, and I am using this post to work out my Frugal Budget, so it will be altered and edited throughout the week as I work things out.

    All in Budget 2018

    Housing
    341.81/4200 Rent
    1200 Council Tax
    98.00/1200 Gas/Electric
    305 Water
    258.24 Contents Insurance
    600.00 Phone/Broadband/Mobile
    95.88 Netflix
    7859.12 Sub Total
    Hobbies interests
    179.88 Itunes Family
    49.99/200 Ancestry Subscription plus certificates
    30.00 Cross Stitching
    500 Toiletry/Candle making
    50.00 Sims 3
    0.00 Gifts to come from my hobbies or cash back earned in 2018.
    959.88 Sub Total
    Other
    415.44 Critial Care Insurance
    72.00/700.00Travel Work
    8.20/98.40 RCN
    200.00 Clothing
    38.63/100.00 Cleaning
    32.30/200.00 Other travel
    500.00 Animals Costs Vets, food etc
    215.10/500.00 Holidays/Days out
    139.11 3000.00 Food Shopping (including any take out/meals out) 57.69 week average.
    233.58 Emergency
    65.99233.58 All other costs
    6181.00 Sub Total
    15000.00 GRAND Total

    9600 Basic Wage before enhancements
    6000 Husbands share for bills and food
    1800 Board from son
    17400 Total

    I do have a second job with NHSP but that is as and when I want, and will be used towards debt payments.

    Today has been a NSD

    Last edited by Penny2myName; 26-01-2018 at 11:59 AM.
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
    • Debtnomoreplease
    • By Debtnomoreplease 1st Jan 18, 8:24 PM
    • 106 Posts
    • 258 Thanks
    Debtnomoreplease
    • #5
    • 1st Jan 18, 8:24 PM
    • #5
    • 1st Jan 18, 8:24 PM
    Wish you all the best for 2018 and your debt free journey. Will look forward to your updates :-)
    • Scott_Weiland
    • By Scott_Weiland 1st Jan 18, 8:31 PM
    • 779 Posts
    • 2,028 Thanks
    Scott_Weiland
    • #6
    • 1st Jan 18, 8:31 PM
    • #6
    • 1st Jan 18, 8:31 PM
    Re the 5.95 credit card i understand the principles behind them but my five penneth have you checked your credit file to see what you eligible for?

    The reason i ask is i had a credit builder card exactly like yours i paid the 5 pounds odd each month and it made no difference to my credit score. It was only when i started clearing smaller debts that my score went up.
    Cashback Earnings YTD 46.04 Survey Earnings YTD 182.66
    "Always always train, be the best version of you that you can physically be"
    • Scott_Weiland
    • By Scott_Weiland 1st Jan 18, 8:35 PM
    • 779 Posts
    • 2,028 Thanks
    Scott_Weiland
    • #7
    • 1st Jan 18, 8:35 PM
    • #7
    • 1st Jan 18, 8:35 PM
    600.00 Phone/Broadband/Mobile
    179.88 Itunes Family
    200 Ancestry Subscription plus certificates
    30.00 Cross Stitching
    50.00 Sims 3

    Do you really need all that lot??

    Spotify for free maybe, or deezer for free maybe.

    And 50pm on broadband phone and mobile thats high.
    Cashback Earnings YTD 46.04 Survey Earnings YTD 182.66
    "Always always train, be the best version of you that you can physically be"
    • Penny2myName
    • By Penny2myName 1st Jan 18, 9:11 PM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    • #8
    • 1st Jan 18, 9:11 PM
    • #8
    • 1st Jan 18, 9:11 PM
    I have done the phone broadband calculation on the highest month costs so far, that way I won't underestimate, as to my hobbies calculation that is for maximum spend, which works out as 18.46 per week to keep myself fully entertained on the 5 days I do not work. Since I rarely drink and I don't smoke and only watch netflix now and again, I feel I can justify spending that on myself for entertainment/pleasure for a each week.
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
    • Scott_Weiland
    • By Scott_Weiland 1st Jan 18, 9:17 PM
    • 779 Posts
    • 2,028 Thanks
    Scott_Weiland
    • #9
    • 1st Jan 18, 9:17 PM
    • #9
    • 1st Jan 18, 9:17 PM
    Thats fair enough but if you halfed it that would say you 500 pounds which could go off your debts.

    And do you really need ancestry.co.uk
    Cashback Earnings YTD 46.04 Survey Earnings YTD 182.66
    "Always always train, be the best version of you that you can physically be"
    • Penny2myName
    • By Penny2myName 1st Jan 18, 9:37 PM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    Ancestry is the main site where I have been able to confirm details, without I defiantly would never have found the 10 generation link to Evercreeh. Also my calculations include the buying of certificates. At 9.25 a shot that is only allowing myself one certificate a month.

    To be quite honest overall I do expect to come under the 15k for the year, but that is what I want to set as an achievable goal all in.
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
    • Penny2myName
    • By Penny2myName 2nd Jan 18, 9:03 AM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    Start of the year balances
    242.09225.58 Main CA
    19.10/1.81 2nd CA
    0.00 O/D
    0.41Budget account
    2500/2300/2100 Saver 1 5% AER
    111.72/60.00 Saver 2 2.3% AER
    22.61/29.74 Prepaid 1
    Prepaid 2
    1.16/63.86 Purse
    4.00 2coin Savings 2018
    3189.29 CC 1 29.9% APR 00.00 2779.41
    2585.29 Catalogue 1 49.9% APR 1500 1828.93
    166.25 Catalogue 2 ??% APR 0.00
    23.80/29 Loan 1 (Credit Builder)regular payments of 5.95

    So that is my blacks and reds easy for me to see.

    Credit Scores
    Clearscore 359 364 388
    Noodle 505 505 541
    Credit Club 549 549 549
    Last edited by Penny2myName; 01-03-2018 at 9:57 PM.
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
    • Penny2myName
    • By Penny2myName 2nd Jan 18, 2:36 PM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    Ok so my spend day today has consisted of

    13.97 Meat/Crawshaws
    22.30 Sainsburys
    4.15 Aldi
    14.00 Holland & Barret
    38.63 Amazon (Cleaning Stuff)

    93.05Total
    Last edited by Penny2myName; 02-01-2018 at 4:54 PM.
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
    • Penny2myName
    • By Penny2myName 3rd Jan 18, 9:05 PM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    Today was a spend day,
    5.30 travel for work
    6.65 Aldi

    11.95 total
    Last edited by Penny2myName; 05-01-2018 at 3:01 PM.
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
    • Penny2myName
    • By Penny2myName 3rd Jan 18, 9:52 PM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    Most of my spending for the next 7 days are work travel related. Though I have 215 coming out on the 6th for accommodation for when I visit my great aunt at the end of the Month. I am doing three extra shifts this week/28hrs. Which will cover the cost of the accommodation. Plus I have also picked up another 27.5hrs of work through out this month. This I want to use towards paying extra on the catalogue DD.
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
    • Penny2myName
    • By Penny2myName 5th Jan 18, 10:08 PM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    Yesterday was a spend day on travel to work 5.30 and today a spend day on Milk 1.09vas didn't get home in time to buy some last night. Unfortunately my youngest has been staying and since the 2nd of Jan has managed to cause us to go through 12pts of milk. I am hoping the last two pints last till morning so I can have a cuppa when I wake up. Once he fully moves into his own flat (still waiting for electric to go live) our milk consumption will drop to roughly 4-6pints for a full week.
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
    • Penny2myName
    • By Penny2myName 6th Jan 18, 1:03 AM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    Just finished having a long chat with Hubby and showing him the true costs of running a house, and what furniture actually costs and stuff. Bless his cotton socks think he is still having a heart attack over things as he thought running a house was a lot less than the 10859 basic.
    Housing
    4200 Rent
    1200 Council Tax
    1200 Gas/Electric
    305 Water
    258.24 Contents Insurance
    600.00 Phone/Broadband/Mobile
    95.88 Netflix
    3000 Food

    He wanted to know where his 550 a month went.
    Small left over portion goes towards the catalogue debt. Since Oct 2015 we have via catalogue replaced
    Attic Bedroom
    Bedroom Carpet 20 x 12

    Our Bedroom
    Bedroom Carpet 10 x12
    Overbed Unit
    Divan Bed - 4 drawers

    Kitchen
    Washing Machine
    Cooker

    Lounge
    2+3 Seater suite
    coffee table
    Fire and surround
    small book case
    bookcase
    small storage unit

    Dining Room
    Narrow Bookcase
    Bookcase
    Tall Storage unit

    None of which come cheap and most of which I only bought when in sale. Everything I bought on bnpl and apart the lounge stuff I have always managed to get them paid for before the BNPL date came into effect. The Cooker and Fire surround are not due til Oct this year, as they are my final two large purchases.

    I have this week received a a small sum of inheritance, which I will use to pay of the majority of my debt, but since I am after building a credit record I still need to be making regular payments, so will keep 1500 of BNPL stuff and pay 150 a month so then when the last large amount is due to hit (cooker and fire) only 150 will be left to pay.
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
    • Penny2myName
    • By Penny2myName 6th Jan 18, 1:55 PM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    215.10 for Accommodation in Oxford at end of the month,
    15.00 two pairs of prescriptions Glasses. I am really good at misplacing mine so spares at affordable prices is essential for me.

    230.10 Total
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
    • Penny2myName
    • By Penny2myName 11th Jan 18, 9:50 PM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    I have a few small spends from this week I need to add into my diary but will do that at weekend when not tired. As to big payments, 1085.29 paid to Very leaving 1500. 3189.29 to Credit Card so totally Clear. So now to just set up the Direct debit of 150 each month for next 10 months. Oh and tomorrow i will JD Williams.
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
    • Penny2myName
    • By Penny2myName 13th Jan 18, 7:28 PM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    Due to a really bad day at work yesterday I have had two very naughty spend days on take outs. Totalling 60.95 for 4 of us.
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
    • Penny2myName
    • By Penny2myName 18th Jan 18, 6:06 PM
    • 1,597 Posts
    • 4,554 Thanks
    Penny2myName
    Finally have JD Williams paid off now.

    Still need to set the DD up for Very, but still need to find latest bank statement so that I can open my new bank account with tesco. After using this account for DD to pay Very and CC (when required)
    19th March 2007 LBM5,969.63 1st January 2018 5960.18
    Student Loan 22244.00 From 2009-12
    Challenges: 2018 Frugal living challenge, January NSD Challenge 2018.
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