Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Storm89
    • By Storm89 3rd Jan 18, 2:45 PM
    • 495Posts
    • 870Thanks
    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 23
    • Storm89
    • By Storm89 13th May 18, 4:55 PM
    • 495 Posts
    • 870 Thanks
    Storm89
    13th May
    Had a busy house and garden day today but not spent any money. Husband has varnished the decking & bench, raised beds etc. I've got through all my washing and ironing, had a big clean in the house and I'm just having 5 minutes relaxing in the garden before we start getting everything ready for school tomorrow. Tomorrow my daughter has the day off playgroup because they're going on a trip to a farm. I didn't pay for her because we have the farm passes so go all the time. I am pretty sure tomorrow will also be a NSD.
    I don't know where that rain is we were supposed to be having - today would have been a perfect day to go to Alton towers! We've just been discussing the school summer holidays & how much money to put aside so that we're relatively comfortable during them. We do want to drive down to a beach for the day before then just incase the holidays aren't very warm. We've calculated it all & as long as we stick to 600 a month savings it's do-able. Things could change if any emergencies crop up so we will just play it by ear. Hope everyone has had a good weekend.
    • Storm89
    • By Storm89 14th May 18, 9:32 AM
    • 495 Posts
    • 870 Thanks
    Storm89
    14th May
    Beautiful morning here weather wise. Sainsbury's has gone out so that's the last of the debt payments for this month. All the payments have gone out of my husband's account so I've just transferred what's left into the joint account this morning. We have 1017 now for the rest of the direct debits and for food & petrol. Pretty sure we will make the 600 general savings & then hoping for around 200 for my birthday (one of the benefits to having a big family).
    We want a beach day during May or June so will take around 100 from savings to fund it. That's for petrol & food etc. That will be our big day out though for the whole summer because we aren't going on holiday.
    In terms of the school holidays, when my husband has a week off we will drive over to see family and take around 100 spending money. Then the rest of the school holidays we calculated 78 for Alton towers trips petrol and parking, day trips to local places etc. I'd say that's pretty good going compared to what we would have spent in the past. We've worked out our monthly targets including any big payments that are due to go out (eurotunnel and premier inn in July and August for next year, plus paying down the Sainsbury's to 3k in october) & we *should* still be left with at least 2k general savings at the end of the year. We just need to stay focused and positive about doing this.
    • Mumoffourkids
    • By Mumoffourkids 14th May 18, 10:02 AM
    • 618 Posts
    • 2,969 Thanks
    Mumoffourkids
    That is good going with all you have planned and still managing to pay your debts down and have 2000 in general savings. I love your daily updates. It's something I need to do more to keep on track.

    Hope you have a lovely day.
    Total debt Dec 2017 23090.83
    Ma7 2018 4621.78 79.98% paid
    Emergency fund 100/600
    Total Savings 1258.62
    • Storm89
    • By Storm89 14th May 18, 10:18 AM
    • 495 Posts
    • 870 Thanks
    Storm89
    Thanks mumoffour, I have made it part of my daily routine now to check my balances and then update the diary. On paper, it should all work out how we expect it to by the end of the year. There's always something though isn't there that might throw a spanner in the works!
    • JoJoC
    • By JoJoC 14th May 18, 9:15 PM
    • 1,800 Posts
    • 6,586 Thanks
    JoJoC
    I'm glad you have a plan in place for the summer! I'm sort of living in ignorant bliss...although it's not very blissful when it pops into my head. We're right now just trying to plan the summer holidays and who's going to watch my son.

    Even with a week's holiday and 7 holiday club days at 28 per day, we've still got 20 full days to figure out where he's going... he'll be able to hang at home with me some days but I don't want him to spend most of the summer watching me work, so i'll need to wait and see. I'm hoping to do a childminding swap for a couple of days with mum friends, so we'll see how that works out. At least I can work from home quiet a bit if need be. I just don't want to be putting him into holiday club for 7 weeks x 5 days = 35 days @ 28 per day = 980!

    Gosh, this turned into my diary!

    Basically, I'm also thinking about summer expenses now but for different reasons...

    Sounds like you have some lovely plans for the summer though. The kids will love it! Let's hope the weather keeps up
    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*
    • Storm89
    • By Storm89 15th May 18, 4:57 AM
    • 495 Posts
    • 870 Thanks
    Storm89
    Jeez 980 ! I hope you manage to sort something out for those 20 days. It makes me so so mad when I see childcare costs. You have to be earning a fair amount for working to be worth it don't you. I've always thought I'll start working when my kids are both at school but it seems wraparound care is also extortionate. And I never even thought about school holidays.
    I hope the weather stays nice too , at least for a portion of the 6 weeks. It always seems we have the best weather in May and June when the kids are still at school.
    • Storm89
    • By Storm89 15th May 18, 9:24 AM
    • 495 Posts
    • 870 Thanks
    Storm89
    15th May
    I have an appointment today at the breast clinic. Found a lump 2 weeks ago but didn't want to post it on here incase it was tempting fate. I was referred & the appointment is today. I have some wonderful friends watching the kids after school for me (they're off to 2 seperate places lol) .
    Weather is fabulous again , I hope it lasts for the weekend. I didn't spend any money yesterday again apart from the direct debits. This morning the TV license has gone out 12.25. Last spendy day was Saturday I think and not due to spend any money now until the weekend. This week is dragging though it's only Tuesday !
    • enthusiasticsaver
    • By enthusiasticsaver 15th May 18, 9:55 AM
    • 6,407 Posts
    • 13,188 Thanks
    enthusiasticsaver
    Hope all goes ok for you at the breast clinic. At least you found the lump early and hopefully it is a cyst or something.

    Summer holiday plans sound good. By my calculations then if you are planning to bring the Sainsbury's card to 3k by the time you need to balance transfer it that should bring your debt outstanding to 8920.57 based on your April debt figures and assuming 5 more months repayments. Massive reduction over the year. I think you are doing the right thing in not doing a big holiday and just days out this year.

    Fingers crossed for you today.
    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
    • JoJoC
    • By JoJoC 15th May 18, 10:42 AM
    • 1,800 Posts
    • 6,586 Thanks
    JoJoC
    Sorry to hear about the lump Storm, although great that you're getting it checked out by the professionals. It's such a worry though. I had a lump and strange sensation under my arm earlier this year and went to the doctors panicking about it, but I had a very thorough examination and they said it was just inflammation of the tissue so with some anti inflammatories it cleared up fairly quickly. It's always a worry though - hope they can put your mind at ease today.

    Yes, the cost of school holiday childcare/ wraparound care can be crippling for some. I'm lucky that I earn a decent salary so we can afford the childcare during term time, and I dare say we could stretch to covering off more of the holiday days with holiday club if we needed to. I just almost grudge spending almost 1k when we've already spent so much over the years on childcare.

    This was the compromise i made - going back to work full time = childcare cost hell. But my career has come really far in the last few years and my pay has gone up almost 15k in 4 years so it was worth it for me.

    I can see why a lot of working mums choose to work in a term-time role!
    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 15th May 18, 10:59 AM
    • 6,407 Posts
    • 13,188 Thanks
    enthusiasticsaver

    Yes, the cost of school holiday childcare/ wraparound care can be crippling for some. I'm lucky that I earn a decent salary so we can afford the childcare during term time, and I dare say we could stretch to covering off more of the holiday days with holiday club if we needed to. I just almost grudge spending almost 1k when we've already spent so much over the years on childcare.

    This was the compromise i made - going back to work full time = childcare cost hell. But my career has come really far in the last few years and my pay has gone up almost 15k in 4 years so it was worth it for me.

    I can see why a lot of working mums choose to work in a term-time role!
    Originally posted by JoJoC
    I always found part time work when my DDs were small was the best compromise with childcare costs being more manageable and I still got time with them after work and later was able to take them to and from school with no wraparound care. School holidays were meticulously planned with DH and I often taking separate weeks off to cover as much as possible. Grandparents helped and we sometimes did swaps with friends so I would watch their kids for a few days a week and they would watch ours. Summer camps were also used a few times.

    Unfortunately though going part time does have an impact on career so it is a trade off.
    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 15th May 18, 4:42 PM
    • 495 Posts
    • 870 Thanks
    Storm89
    Thanks both, it was a cyst that's burst. I did have an ultrasound etc but the surgeon said my description was good enough to put in an exam for medical students haha because it sounds just like a cyst bursting (the pain I was in etc).
    If I can find term time work I think that's perfect for me, even part time work will cost you ridiculous amounts in childcare. We don't have family nearby either. I'm not really career minded since having kids , despite having a degree - how awful does that sound?! I've considered cleaning or care work, shop work etc anything that fits in with the kids really. At the moment I'm run ragged with appointments and meetings for both kids . How on earth people get the time off when working I don't know. I had one at 3.30 yesterday for my son, I have one at my son's school at 2.15 on Monday. Then I have 3 in June for daughter! Plus the one I had the other day about reception transition for DD. This is all due to their additional needs in one way or another. I do think as they get older these will hopefully ease. It will be nice to get out chatting to people in the real world as well when working.
    Anyway enough rambling, today was indeed a NSD & I'm just sat in the garden with my daughter because my son is at a friend's for tea
    • Storm89
    • By Storm89 16th May 18, 7:18 AM
    • 495 Posts
    • 870 Thanks
    Storm89
    16th May
    Today will be another NSD. Weather has turned cooler today, hope we have a nice weekend ahead of us. In terms of direct debits, Sky has gone out today -14. My ironing pile has grown somewhat since the weekend so I've got to tackle that - much easier when it's not boiling hot weather. Happy hump day everyone , 2 days to go until the weekend again.
    • JoJoC
    • By JoJoC 16th May 18, 4:55 PM
    • 1,800 Posts
    • 6,586 Thanks
    JoJoC
    Get out into the garden with an extension cable and do your ironing outside if its nice! Beats staying indoors...

    Well done on another nsd.
    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*
    • Storm89
    • By Storm89 17th May 18, 7:55 AM
    • 495 Posts
    • 870 Thanks
    Storm89
    17th May
    Oooh that's a good idea jojo . Another NSD today, my son has beavers tonight & we've been told he needs to wear scruffy clothes so not sure what he'll be doing. In terms of direct debits , gas/electric has gone out today 52. Weather was definitely cooler yesterday, not sure what's in store for us today .
    • JoJoC
    • By JoJoC 17th May 18, 8:52 AM
    • 1,800 Posts
    • 6,586 Thanks
    JoJoC
    Sounds like your son will be having fun no matter what the challenge is! Scruffy clothes = messy fun!

    Hope you get some nice weather. Still sunny here although cooler this morning. Its to be nice until Saturday I believe. Fingers crossed!
    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*
    • Storm89
    • By Storm89 18th May 18, 9:29 AM
    • 495 Posts
    • 870 Thanks
    Storm89
    18th May

    It was painting at beavers jojo , he's had a letter about his first beaver camp as well and we need to take a 5 deposit next week. I'm so emotional about him leaving us overnight for the first time but I know he'll have a fab time. Just amazing how quickly they grow up!
    Another beautiful day today, let's hope it keeps up. We fancied a BBQ tomorrow but I don't even want to spend money on a disposable one - will just cook burgers and hotdogs inside then take them out to eat haha.
    NSD today but it's shopping day tomorrow so I'm going to start writing my list today. I usually do my washing Friday through Monday which is great this weekend because I can get it dried on the line. Happy Friday guys, we're in for a gorgeous sunny weekend .
    • Storm89
    • By Storm89 19th May 18, 8:04 AM
    • 495 Posts
    • 870 Thanks
    Storm89
    19th May

    Busy day today , got the shopping this morning & need a lot of extras so I'm not holding out much hope that we will keep the costs down but will do our best! We will be collapsing and tipping the trampoline as well because it's officially died a death. The kids are on it everyday so we are going to replace it. Getting one from Argos on buy now pay later , the final payment will be due in October which coincides with the end of my Very payments . So I'll be entering November and the Christmas period without any of these little extras . I'll be putting away an additional 17 a month to pay it off when the time comes.
    Hoping to have burgers and hotdogs in the garden today if this weather keeps up. Then off to the farm again tomorrow.
    • Storm89
    • By Storm89 19th May 18, 3:24 PM
    • 495 Posts
    • 870 Thanks
    Storm89
    Shopping was 86.31 so not quite as bad as I was expecting. Just preparing for the BBQ , we got the shopping done early morning so we've had lots of time relaxing in the garden whilst the kids play. We've collapsed the trampoline and it's gone to the tip , just need to order the new one at some point.
    • Dandytf
    • By Dandytf 19th May 18, 3:31 PM
    • 1,227 Posts
    • 403 Thanks
    Dandytf
    Respect Strom89

    2 year reminder to make a call to step change next week and increase dmp payments +30 to allow myself to aim for 2 year debt free target.
    sc dmp 2012 13k
    Jan 2018 8840 paid. 60% approx.
    • Storm89
    • By Storm89 20th May 18, 9:43 AM
    • 495 Posts
    • 870 Thanks
    Storm89
    20th May

    Happy Sunday had a lovely day chilling in the garden yesterday & looking forward to another one today. The Next statement came through & it was 144.98 but I only had 126.21 in my clothing fund so I've had to take the 18.77 from the current account. I still think I've done pretty well for clothing because this is the first time all year that the clothing fund hasn't covered something. Loving this weather. Today is petrol day so will put around 20 in. I have another leg wax booked for Thursday but other than that it should be a run of NSDs until next Saturday. Off to enjoy this weather.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,365Posts Today

5,707Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin