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    • Storm89
    • By Storm89 3rd Jan 18, 2:45 PM
    • 517Posts
    • 1,328Thanks
    Storm89
    2 years to smash the debt !
    • #1
    • 3rd Jan 18, 2:45 PM
    2 years to smash the debt ! 3rd Jan 18 at 2:45 PM
    I'm starting a new diary because I didn't keep my last one up and I'm feeling rubbish about not paying off as much as I had wanted. My last target was to be debt free by the summer of 2020 but I'm determined to set a new target of December 2019. Taking it a year at a time though, so aiming for debt to be 10k by December and savings to be 3k (currently have no savings at all). I need to do this for my kids, I wish I could give them experiences and not have to cut back so much because of the silly mess we're in.

    As it stands the debt is
    Credit Card 1 - 6,330.83 0% ends in March
    Credit Card 2- 7,660.01 0% ends in November
    Credit Card 3- 1,873.59 0% ends in June
    Total - 16,027.43
    I need to figure out how to start shifting some of that debt onto other 0% cards soon I just don't know how to go about it. A card we have with zero balance has offered us 0% for 12 months and the amount we could transfer is around 5100 so not enough to cover the card that's up in March. So I'm not sure what to do really about this. I'm considering getting another 0% card but worry we won't get accepted.
    We're a family of 4 with a 7 year old and 4 year old and income from all sources is
    2816

    Outgoings are
    1516.62

    It gives us a surplus of 1299.38. I don't want to put it all on the debt but we're setting aside 500 a month for that. I've also created some savings accounts on my mobile banking that I've named and decided to set aside each month:
    General Savings - 250
    Very- 100
    Clothes- 40
    Center Parcs- 100
    Christmas and Birthdays- 100
    Anything we manage to save on top of this will pay off debt
    Having no savings in 2017 meant I had to use Very to buy things we needed. A hoover, pushchair, washing machine etc. We now have a balance of 1000 on there that's interest free as long as I pay within 12 months of when we purchased the items. I should count this in my total debt but it's too depressing to do so and I'll be paying it off anyway

    I've booked us a little holiday at Center Parcs for October half term. We've not been away at all last year and won't be going anywhere else until then , I just felt that I wanted to get the balance between paying off debt and having a little treat. I'll be using this thread to write my ramblings even if nobody reads it !
    Last edited by Storm89; 03-01-2018 at 2:51 PM.
Page 16
    • Storm89
    • By Storm89 28th Feb 18, 10:07 AM
    • 517 Posts
    • 1,328 Thanks
    Storm89
    February closing balances

    Here's where everything stands with the debt and savings. I have put extra money into clothes that would have normally gone in general savings because I realised the kids need new shoes. On top of that we've had lots of unexpected costs so haven't been able to save as much as we would have liked. I'm still pretty pleased and the debt has gone down as expected.

    Debt
    Virgin Atlantic - 4993.47
    Sainsbury's- 7319.19
    Barclaycard- 3027.86
    Total- 15340.52

    Savings
    Clothes- 100.12
    Center Parcs- 102.35
    Very - 100
    Christmas - 67.14
    General Savings - 89.78

    First proper month of our journey done
    • Storm89
    • By Storm89 28th Feb 18, 10:10 AM
    • 517 Posts
    • 1,328 Thanks
    Storm89
    Enjoy your snow days ladies. Playgroup is open so I'll have to brave the walk up there and hope for the best.
    • Storm89
    • By Storm89 1st Mar 18, 10:55 AM
    • 517 Posts
    • 1,328 Thanks
    Storm89
    March Budget

    Income 2836.71

    Outgoings
    Mortgage- 447.18
    Gas/Elec- 52
    Phone- 104
    Groceries- 300
    Petrol- 200
    Disney Life- 4.99
    British Gas- 31.72
    Farm passes- 18.16
    Water- 36
    BT- 47.81
    Sky- 22
    AA membership- 14.42
    Tv License - 12.25
    Netflix- 8
    Husband's account- 84
    Phone Insurance- 5.99
    Beauty - 8
    Amazon- 8
    Birthdays- 21.49
    Theme Park Passes- 165
    Beavers - 15
    Dentist - 13.40
    Mother's Day- 20
    Total- 1639.40
    I'll just address a few things like I did last month
    Phone I have given notice on the contract I was paying for the old phone, so I'll stop paying over half of this figure next month. However, I'll be getting my husband a phone that's 16 a month so we'll be making a bit of a saving here.
    British Gas My contract isn't up with them until April so I'll have to give notice this month, the last payment will go out next month & then I'll be reducing it down to 12 a month for just boiler cover.
    BT and Sky I have given notice to BT but still need to pay for March. The reason I joined Sky at the same time is because the deadline for the offer was 1st March so I'll just have to take the hit. From next month, BT will be 39 (I think) for broadband and calls, Sky will be 14 (I just had to pay a little more for the first month).
    Hair and Beauty I have reduced my hair and beauty budget by a massive amount since starting this diary. I would have normally had my nails done every 4 weeks. Brow wax and tint every 4 weeks and then my hair done and HD brows every 3 months. I've now cut everything apart from the hair and HD brows. So I'll be paying around 130 every 3 months - I dread to think what I was spending before - nails alone were 30 a time.
    Birthdays I think I'm going to use the Christmas/Birthdays fund as just a Christmas fund and spend on birthdays during the month they're in. It just worked out like that last month so I'll probably stick with it - just put whatever's left of the 100 into the savings account. This month it's my uncle and brothers birthdays. Uncle is getting a card (30p card factory) and a bottle of wine that I already have leftover from Christmas. My brother is having a little more money spent on him because it's a kind of big birthday - he's 16 so not a really big one but still a milestone. There is quite a gap between us because I'm the oldest and he's the youngest haha.

    Right onto the good stuff

    Debt Repayments
    Sainsbury's 200
    Virgin Atlantic 200
    Barclaycard - 100
    Total 500

    Savings
    Christmas - 78.51
    Very- 100
    Center Parcs - 100
    Clothes- 40
    Total 318.51

    This should leave us with 378.80 in general savings, but we all know it never goes as planned. I had really hoped to have saved more last month so I could hit my target by June
    Last edited by Storm89; 02-03-2018 at 10:00 AM. Reason: Altered some outgoings
    • Storm89
    • By Storm89 2nd Mar 18, 8:27 AM
    • 517 Posts
    • 1,328 Thanks
    Storm89
    Friday 2nd March

    Snow Day yay. Everyone is off work & school which is fantastic , in other good news my husband has an interview for the job he applied for. I've ordered the theme park passes so I'm excited to utilise those when it opens 17th March. I've had to cancel my hair & brows appointment for tomorrow because of the snow (the salon is 40+ miles away & I'm totally crazy for travelling all that way. We used to live in the area before we moved for work , so family are still there. We always twin my appointments with visiting family as it's only every 3 months). I've rearranged for the easter holidays which makes it April so that's a saving there. Stay safe in the snow everyone.
    • Storm89
    • By Storm89 2nd Mar 18, 8:33 AM
    • 517 Posts
    • 1,328 Thanks
    Storm89
    I've just edited some outgoings on the SOA for March, added dental insurance which I had forgotten about and taken off hair appointment just added brows which I'll get done locally instead.
    • JoJoC
    • By JoJoC 2nd Mar 18, 9:26 AM
    • 1,183 Posts
    • 6,822 Thanks
    JoJoC
    Sounds like you've got a good plan in place for this month! Hope the snow isn't too bad where you are.
    CC1: 4481.14/ 5031.14 (12% paid off, 600) | CC2:3307/ 3807 (14.4% paid off, 550) | Loan: 10,528.20/ 15,792.30((33% paid off, 5,264))

    July debt total: 24,630.44 | New debt total: 18,316.34 | Total debt paid: 6,414.10 (26%)
    *My debt busting and savings diary*
    • enthusiasticsaver
    • By enthusiasticsaver 2nd Mar 18, 9:45 AM
    • 6,617 Posts
    • 13,920 Thanks
    enthusiasticsaver
    It looks as if you have done quite well for February in spite of the savings being lower than expected. It might be worth looking at where the unexpected costs were to see if any of your budget needs adjusting. You are quite new to this journey though and your savings potas have not yet had time to build up. Also reducing the debt by 500 is good.

    Well done on reducing the hair/brow etc costs. Can you do alternate months for each? So one month brows and the other hair? Snow is causing havoc round here too though at least I don't have to go to work now being retired.
    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
    • Storm89
    • By Storm89 2nd Mar 18, 9:58 AM
    • 517 Posts
    • 1,328 Thanks
    Storm89
    Hair & brows are quartely so shouldn't be too bad. The unexpected costs were takeaways whilst i was in hospital, parking, glasses , dentist etc. Obviously I'm hoping not to end up in hospital so won't need to budget for anything like that- should it happen again we should have built up some more savings. The glasses are now sorted and the really expensive dentist I solved by getting a payment plan with them for any future costs so I feel like I've got that sussed now.
    This snow is really crazy isn't it everything comes to a standstill , hope you are enjoying retirement
    • Storm89
    • By Storm89 3rd Mar 18, 8:44 AM
    • 517 Posts
    • 1,328 Thanks
    Storm89
    Saturday 3rd March

    Ok so today I should be off getting my hair and brows done but this snow has but a stop to that . Instead we are cooped up trying to keep warm. I will have to stock up on some bits for the weekend because we had planned to be visiting family this weekend (which we twin with my hair appointments hahaha) and they would have provided us with food. Now wneed to think of a couple of meals to see us through to Monday.
    I also got the kids some shoes which cost 73 out of the clothes fund. I'll need to get my daughter some wellies as well. Really glad I decided to add extra to that fund in February.
    • Choccygirl123
    • By Choccygirl123 5th Mar 18, 10:50 AM
    • 115 Posts
    • 125 Thanks
    Choccygirl123
    You've done really well abd considering you've been in hospital you've still made a dent in the debt! I've cut back on my beauty too and could go with a cut. It's grown so much but I live my current straggled curls at the bottom so going to live with it until Easter.
    Always counting down to pay day, but making baby steps getting life on track! Looking forward to cracking the debt once and for all.
    • Storm89
    • By Storm89 6th Mar 18, 9:59 AM
    • 517 Posts
    • 1,328 Thanks
    Storm89
    Tuesday 6th March

    I'm not very good at keeping up to date and posting as regularly as I'd like. I'm really happy with how the debt is going down. My plan was to pay off 500 a month until October and so far it's going well.
    Last night we went to the farm after school. There's a giant soft play so we went there for the kids to have a play & we had some tea there- we get 10% off as annual members. I got 3 kids meals and 3 cans of pop for 15. My husband joined us after work and ate the leftovers. Nothing else to report really - weather wise the snow is pretty much all gone it's just miserable rain now.
    • Storm89
    • By Storm89 7th Mar 18, 10:11 AM
    • 517 Posts
    • 1,328 Thanks
    Storm89
    Wednesday 7th March

    Curry for tea last night (just using a jar sauce nothing fancy) and I made fairy cakes for pudding. Husband has an interview today so we're all keeping our fingers crossed it goes well. No money spent yesterday or today. Red pesto and spinach pasta for tea again tonight I just loved it so much last week. I'm so busy with a lot of things going on at the moment that I'm not having the time to catch up on here or with other people's diaries. I'm going to try & quickly check in later.
    • JoJoC
    • By JoJoC 7th Mar 18, 4:49 PM
    • 1,183 Posts
    • 6,822 Thanks
    JoJoC
    Great news about your husband's interview - will it mean more money if he gets it?

    Glad to see you're getting so much use out of the farm park passes. If we had something like that nearby then I'd consider the same, but the nearest one to us is about 35 miles which I'm not adverse to driving at all, but it wouldn't be an every weekend sort of thing. Shame really.

    Glad you're keeping busy but still checking in here. I do find it helps to keep temptation at bay and keep on track!
    CC1: 4481.14/ 5031.14 (12% paid off, 600) | CC2:3307/ 3807 (14.4% paid off, 550) | Loan: 10,528.20/ 15,792.30((33% paid off, 5,264))

    July debt total: 24,630.44 | New debt total: 18,316.34 | Total debt paid: 6,414.10 (26%)
    *My debt busting and savings diary*
    • fatrab
    • By fatrab 7th Mar 18, 5:15 PM
    • 852 Posts
    • 2,236 Thanks
    fatrab
    Hope the interview went well!!
    You can have results or excuses, but not both - Wannabe debt free by Dec 2022
    June's targets - Be 15st by end of month, 19/30 AFDs
    39 x 2 coins (#32)
    • Storm89
    • By Storm89 11th Mar 18, 8:07 PM
    • 517 Posts
    • 1,328 Thanks
    Storm89
    Hope all the mum's had a lovely mothers day. The interview went well. It won't be anymore money than he is currently on but he's covering maternity at the moment. It's a good move in terms of career progression though. Find out officially on Tuesday so fingers crossed ! Been up to visit family this weekend so spent a bit more on petrol than usual. Shopping day tomorrow.
    • Storm89
    • By Storm89 14th Mar 18, 9:07 AM
    • 517 Posts
    • 1,328 Thanks
    Storm89
    He got the job yay ! In other news i've transferred all the money into the savings accounts Xmas , center Parcs, very and clothes. I'm waiting until the end of the month to do general savings because I don't know how much I will have left over yet. Alton towers opens this weekend but we aren't going because we thought it would be too busy and overwhelming for the kids the first weekend, so we are going to the farm...again haha. Spring feels like it might be in the air I am very excited for enjoying the outdoors a lot more.
    • JoJoC
    • By JoJoC 14th Mar 18, 10:43 AM
    • 1,183 Posts
    • 6,822 Thanks
    JoJoC
    I'm also looking forward to spring making a proper appearance! Although I heard on the news we're to have snow again this weekend... Noooooooooooooooooooo! Let's hope it was all a dream.

    Good news on the job front for your husband! And nice to hear you've got the savings sorted too. You're doing well!
    CC1: 4481.14/ 5031.14 (12% paid off, 600) | CC2:3307/ 3807 (14.4% paid off, 550) | Loan: 10,528.20/ 15,792.30((33% paid off, 5,264))

    July debt total: 24,630.44 | New debt total: 18,316.34 | Total debt paid: 6,414.10 (26%)
    *My debt busting and savings diary*
    • fatrab
    • By fatrab 14th Mar 18, 5:23 PM
    • 852 Posts
    • 2,236 Thanks
    fatrab
    Great news about the job!

    JoJoC - snow?? SNOW?? again??? Aaaaaaarghhhhh!!!! lol
    You can have results or excuses, but not both - Wannabe debt free by Dec 2022
    June's targets - Be 15st by end of month, 19/30 AFDs
    39 x 2 coins (#32)
    • Mumoffourkids
    • By Mumoffourkids 14th Mar 18, 7:45 PM
    • 628 Posts
    • 3,142 Thanks
    Mumoffourkids
    Great news about the job and yes I have heard that snow is on the way this weekend. Two of the girls have a rugby match on Sunday and there is talk of it being called off due to the snow. I hope it won't be called off as they do love playing rugby and most of their matches recently have been called off due to the weather.
    Total debt Dec 2017 23090.83
    Ma7 2018 3691.78 84.01% paid
    Emergency fund 150/600
    Total Savings 1328.05
    • Storm89
    • By Storm89 15th Mar 18, 5:49 PM
    • 517 Posts
    • 1,328 Thanks
    Storm89
    Thanks everyone. I've also heard about this snow. I'm praying it's not so!! Beavers tonight for DS. We've just had the red pesto pasta for tea. I hope rugby goes ahead mumoffour and that the snow isn't as bad as it has been.
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