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  • FIRST POST
    • puddle_duck1
    • By puddle_duck1 28th Jan 18, 4:47 PM
    • 22Posts
    • 36Thanks
    puddle_duck1
    Puddleduck's Adventures
    • #1
    • 28th Jan 18, 4:47 PM
    Puddleduck's Adventures 28th Jan 18 at 4:47 PM
    Well hello there.

    Little background to my story.

    We have not been in debt for about 10 years. We saved and had a nice life.
    We decided to sell our home and buy an older house in a more rural area, this is where the problems started!

    All our savings and now our massive debt has all been to renovate this house. SO much more than anticipated!! In fact if we had known there was so much work here we probably wouldn't have bought this house.
    The house is finished and it's lovely, everything is new ( house was gutted and inside rebuilt). So we don't have to worry about anymore building work for (hopefully) a long time. I will go into the amount of debt in the next post later on. This house is a lot bigger and we can't really justify buying nice things whilst the debt is so big. So it still doesn't feel like a welcoming family home.

    So just to end, this renovation has crippled us and we are both in the mind set to sort it out quickly as we both in our 40s. I'm here to keep strong and to be influenced by you lovely people.

    More to follow later on this evening.

    Puddle
Page 1
    • beanielou
    • By beanielou 28th Jan 18, 7:09 PM
    • 52,817 Posts
    • 207,653 Thanks
    beanielou
    • #2
    • 28th Jan 18, 7:09 PM
    • #2
    • 28th Jan 18, 7:09 PM
    Happy shiny new diary
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 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.
    • puddle_duck1
    • By puddle_duck1 28th Jan 18, 8:50 PM
    • 22 Posts
    • 36 Thanks
    puddle_duck1
    • #3
    • 28th Jan 18, 8:50 PM
    • #3
    • 28th Jan 18, 8:50 PM
    Beanie Thank you xx

    OK so debt is as follows:-

    21,150 3% tesco bank (335 a month but pay extra 50 to this)
    7,192 3% Zopa (133 a month)
    4,800 parent loan (200 a month)
    1,350 overdraft
    We have no credit cards
    Total = 34,492

    Wow that's huge!!

    So that's 718 a month on debt. Forgot to say we also go into our overdraft last month it was 1,350 .
    Will add to the total now.

    Income into house on a typical month is 3,666
    All direct debits come to 1941 that's all loans, gas, electricity, BT, mortgage etc
    Petrol 200ish (2 cars)
    Groceries 300 (is this high for adults and 1 child?)
    The rest is ?? Started to write down everything we spend on day to day.

    I take lunch to work (I'm too lazy to wait in the queue to buy something, I only get 30 mins)
    Little one has school dinners 11 a week
    DH tries to take lunch but fails sometimes.

    Sorry if I'm rambling and this is a little all over the place. I'm typing as I remember things.

    I have just looked at the overdraft and we knocked 300 off it this month. We also had lots of annual bills in January (my car tax, carinsurance, professional 6 month money) all that came to 400! So that would have been 700 off the overdraft if we didn't pay those!

    We also need furniture, pictures, nice things to make this house look and feel like a home.

    Gosh I'm tired now......
    Last edited by puddle_duck1; 28-01-2018 at 8:56 PM. Reason: spelling
    • DancingUnicorn
    • By DancingUnicorn 28th Jan 18, 9:15 PM
    • 152 Posts
    • 588 Thanks
    DancingUnicorn
    • #4
    • 28th Jan 18, 9:15 PM
    • #4
    • 28th Jan 18, 9:15 PM
    Hello, happy new diary!

    I would recommend that alongside paying off your debts you start an emergency fund aiming for around 1,000 as soon as possible. This should help in case of unexpected emergencies and stop you from getting deeper into debt. Mine isn't anywhere near 1,000 but has already proved itself to be useful when I needed new tyres.
    Are your parents willing to pause debt repayments while you get everything else a little more manageable? That overdraft wants paying ASAP.

    Definitely, write down everything you spend over the next month or so and highlight it as an essential or non-essential spend (I find that this helps me to stop spending as I don't want to admit to myself I keep buying non-essentials!). Once you have a clearer picture of all your spending, create an SOA (http://www.stoozing.com/calculator/soa.php) from which I'm sure lots of lovely people here will help you to find ways to cut back.

    Keep up the debt-busting
    LBM: October 2016: 20,130 / Current: January 2018: 17,320 13.9%
    DFD: February 2024
    SPC#577 (2017: 60.58)
    • redofromstart
    • By redofromstart 28th Jan 18, 9:34 PM
    • 1,608 Posts
    • 9,573 Thanks
    redofromstart
    • #5
    • 28th Jan 18, 9:34 PM
    • #5
    • 28th Jan 18, 9:34 PM
    Happy new diary puddle duck, I know what you mean about the house thing. I always describe ours as 'fur coat, no knickers' as it looks lovely from the outside but inside has a long way to go.
    • puddle_duck1
    • By puddle_duck1 6th Feb 18, 1:05 PM
    • 22 Posts
    • 36 Thanks
    puddle_duck1
    • #6
    • 6th Feb 18, 1:05 PM
    • #6
    • 6th Feb 18, 1:05 PM
    Thank you guys for your replies.
    Yes we need an emergency fund which we will concentrate on once the overdraft has gone. It should be gone in the next 2/3 months. Myself and DH have sat down and we are both totally on board with this. We have already taken 700 off the overdraft.
    I have told myself to only buy small things for the house to make it homely until we have a little more leway. So I bought a potted plant for 3.50.

    Have been catching up on general cleaning and tidying the last couple of days. I have a couple of days off work and enjoying the time to regroup.

    Just looked at our tesco loan and it's actually 20,373 so I'm pleased with that.

    I have been doing well on prolific surveys and waiting to do a few more to get me to 100 then that can go on the Zopa loan I think. Been putting money in my piggy bank since new year and now have 26ish in there. Trying to save that for Xmas. Little steps!

    I need to update more often it really does me good.
    • puddle_duck1
    • By puddle_duck1 9th Feb 18, 11:29 AM
    • 22 Posts
    • 36 Thanks
    puddle_duck1
    • #7
    • 9th Feb 18, 11:29 AM
    • #7
    • 9th Feb 18, 11:29 AM
    Still doing well. I have had a few days off work and caught up with lots of things.

    Ironing up to date
    house tidy
    house clean
    organised finances

    Elec/gas company owe us 100 as we have been in credit so that is now on its way to our bank. 100 from prolific (since Xmas, had a few big ones) on its way also.

    Lovely day today I need to get out. I need washing (clothes) liquid as the one I'm using at the moment is awful. Not cleaning the clothes properly.....not really MSE as they have to go back in the wash.

    Head is organised and bring it on!
    • puddle_duck1
    • By puddle_duck1 9th Feb 18, 8:50 PM
    • 22 Posts
    • 36 Thanks
    puddle_duck1
    • #8
    • 9th Feb 18, 8:50 PM
    • #8
    • 9th Feb 18, 8:50 PM
    65 on its way from quid Co, from a car insurance 6 months ago.

    Used a gift card today that has been in my purse since Feb last year for a wellknown Pizza place 20.

    Rock and roll!
    • puddle_duck1
    • By puddle_duck1 10th Feb 18, 9:03 AM
    • 22 Posts
    • 36 Thanks
    puddle_duck1
    • #9
    • 10th Feb 18, 9:03 AM
    • #9
    • 10th Feb 18, 9:03 AM
    Morning Diary.

    Looks like a damp day today so a little bit of tidying up then dinner up the inlaws.
    Nice to get out have spent too long indoors this week, I'm not used to it and feel lazy!
    It takes 50 min to get to in laws and the drive is really pretty so looking forward to it.

    Better go and get dressed, having a lazy morning, nice not to do school run.

    Buy for now
    Puddle
    • MeenaM
    • By MeenaM 10th Feb 18, 10:41 AM
    • 243 Posts
    • 446 Thanks
    MeenaM
    welcome like the name!

    first thing is write a budget before you spend the money, tell your money where to go and you will feel like you got a rise
    Sealed Pot 11. #199Next1170Barclays Credit Card 4891.20/1257.95- 0% ends April 2019 virgin 0% ends july 2020 4138 3929.89AA Credit Card 860 0- 0% ends Dec 2017 Sainsburys Credit Card 521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund 614/1000
    • puddle_duck1
    • By puddle_duck1 13th Feb 18, 4:21 PM
    • 22 Posts
    • 36 Thanks
    puddle_duck1
    Thank you Meena I will need to sort out some form of spreadsheet type thing.

    Nothing much to report. I have a cold. It''s not that bad just making me feel tired.

    Got rid of some clutter the last few days. Bought some Daffs (probably shouldn't have) 2 for 2 bunches.
    I've put 2 items on eBay - I keep getting messages to sell one item as buy it now but will wait the auction out I think.

    Just got home from work, finished my cup of tea.
    Wash load in and thinking of what to do for food.

    Will be back on here later once little ones in bed.

    Take care

    Puddle duck
    Last edited by puddle_duck1; 13-02-2018 at 4:25 PM.
    • puddle_duck1
    • By puddle_duck1 13th Feb 18, 4:26 PM
    • 22 Posts
    • 36 Thanks
    puddle_duck1
    Forgot to say Happy Pancake Day!
    • puddle_duck1
    • By puddle_duck1 14th Feb 18, 8:21 PM
    • 22 Posts
    • 36 Thanks
    puddle_duck1
    Happy Valentines Day !!!10084;!!!10084;

    We had a lovely dinner for the 3 of us. Lights out, candles lit, water from wine glasses and heart shaped plates (from years ago). Daffs on the table also. It was lovely even the little one loved it. Better than an expensive night out.

    We are doing well this month. Pay day is in 9 days time and we are 480 in the overdraft which is 800 better than this time last month so if we can keep to the minimum of everything.

    Having a relaxing evening and waiting for 'Trauma' 3rd part to start on TV.

    Puddle
    • MeenaM
    • By MeenaM 15th Feb 18, 9:08 PM
    • 243 Posts
    • 446 Thanks
    MeenaM
    Well done you! that is good going on the OD , I must watch Trauma have heard it's good
    Sealed Pot 11. #199Next1170Barclays Credit Card 4891.20/1257.95- 0% ends April 2019 virgin 0% ends july 2020 4138 3929.89AA Credit Card 860 0- 0% ends Dec 2017 Sainsburys Credit Card 521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund 614/1000
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 15th Feb 18, 9:27 PM
    • 1,219 Posts
    • 5,583 Thanks
    wishingthemortgaheaway
    Hi Puddle, just dropping in to say that, for groceries (food only) I budget 250 a month, which is about 50 a week, (I overpay any surplus into my mortgage)
    I have a 100 a month 'household goods' pot for cleaning products, cat food & litter, toiletries etc. I generally spend most of this. Stocking up on a big thing if there's money left towards the end of the month.

    Our household is 2 adults, 1 child & 1 cat. But the caveat to this is: Small is only 20 months old and hubby works away a lot, so there aren't many weeks I feed him every night.
    When he's away Small and I have left overs that I reheat in the microwave.
    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
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 1400ish/2,500
    • puddle_duck1
    • By puddle_duck1 21st Feb 18, 3:48 PM
    • 22 Posts
    • 36 Thanks
    puddle_duck1
    Thank you guys for your replies.

    I'm waiting on a Mr T delivery, I find I don't spend so much having it delivered, I'm on the delivery saver using my tesc* vouchers.

    Pay day is Friday and we are 809 overdrawn. I have 8 in my purse and hubby should have some for tomorrow's outing with our child (half term here this week). So that should be it until the pay goes in. So we have saved 541 this month. I thought it would have been better than that. Actually Mr T needs to go out also (41) so make that 500 taken off the overdraft.

    We are both completely on board with this money saving. Husband has been doing childcare this week as it's half term and it has involved lots of walking and packed lunches. I hate having to work half term!!!

    Oh well I need to use these couple of hours wisely. DH and DD won't be back until 5ish (cheap admission to Techniquest) I need to do the ironing and have a general tidy up and wait for Mr T.

    Going to calculate all spends on Friday. I have no idea how much goes on food, cleaning, petrol, cat etc so will be interesting.

    Later
    Puddle
    • puddle_duck1
    • By puddle_duck1 21st Feb 18, 4:20 PM
    • 22 Posts
    • 36 Thanks
    puddle_duck1
    Sugar forgot cat had to go to vets for annual jabs and it's not gone out of bank yet =28.
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 21st Feb 18, 4:23 PM
    • 1,219 Posts
    • 5,583 Thanks
    wishingthemortgaheaway
    Do you use have a spread sheet or an app for tracking your spending? It would stop the 'rubbish it's not gone out' feeling.

    I use ynab, which is brilliant for me, but I know there are others. I log spends as soon as I make them so know exactly how much I've spent in each of my categories. And, over the last few months have reduced my food spends by a further 50 a month.
    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
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 1400ish/2,500
    • puddle_duck1
    • By puddle_duck1 23rd Feb 18, 4:54 PM
    • 22 Posts
    • 36 Thanks
    puddle_duck1
    Hi Wishing (waves). I have been keeping track of spending by writing everything down and putting it weekly onto a spreadsheet. I've just looked at the whole month just now and somethings like Groceries and petrol are lower than expected but we have payed out on other big things this month. I may give Ynab a go actually. What does it stand for?

    Well payday has happened (one of them). We were 859.75 overdrawn. Which is 490.25 better than last month. We have payed 240 on a garden gate and 95 last installment on our summer caravan holiday) and 150 on vet bills for our little cat in Feb so March will be much better......it has to be better as we have car insurance and a couple of other annual bills in April.

    We are not big spenders, it's only because we moved into an old house and did it up that's broke us. The 25,000 tesco loan was taken out Instead of upping our mortgage. We have lots of equity in the house. Our mortgage is 79,990 ish and the house was valued last month at 235,000.

    Oops battery is about to go on the tablet. Will sign back in later.

    Must iron!! Lots of white thirty on the washing line nice and dry for me to iron. I love pegging out!!
    Roll on summer.

    Puddle duck
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 23rd Feb 18, 5:59 PM
    • 1,219 Posts
    • 5,583 Thanks
    wishingthemortgaheaway
    Ynab stands for 'you need a budget' it's an American system, the most up to date version is a subscription service, but they offer a 34 day free trial, and ive seem lots of people refer to a 3 month trial.

    I love it.
    They have webinars and lessons and things to learn the 'ynab' way.

    As a result
    Of budgeting through ynab I saved nearly 10k in 6 months for fund my mat leave.
    Didn't need to take the occupational element of maternity pay, meaning, when I handed my notice in during May leave I had nothing to repay.
    Took 19 months off work completely.
    Returned to work 1 day a week on a contract and do occasional supply teaching, but not much.
    Have just had my water bill for 2018/19 through and I've got 77.70 more in my 'water' pot than I need.
    Pay the majority of my bills annually.

    I am very competitive though, so it's me against the finances and I have to win.

    It doesn't work for everyone.
    Some people say 'why spend out for something that you can do for free' which is true, but, I have the app on my phone so I log transactions as they happen.
    I have the app on my tablet which allows me to move money between categories as needed and the desktop app is where I can set up my budgets and pots.

    Many people say 'pay cash for everything' that way you can see what you are spending. I actually use cash far less than I used to as it's much easier to track spending on ynab (some people do have a 'cash' account on ynab, but, because I don't use cash that often, I don't bother. As far as I'm concerned, once it's left the bank, it's been ynab'd.

    (Ok, I'm a little evangelical about it, but it has REALLY helped me for the last 4 years. )
    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
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 1400ish/2,500
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