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  • FIRST POST
    • savingholmes
    • By savingholmes 2nd Feb 18, 7:58 PM
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    savingholmes
    Prosperous soul in the making
    • #1
    • 2nd Feb 18, 7:58 PM
    Prosperous soul in the making 2nd Feb 18 at 7:58 PM
    So a little about me...

    I have been on the forums before but have had a gap for a number of years. Unfortunately I have a serial debt habit and at times have cleared debt only to restart.

    Debt excluding mortgage 46554. This does include two car loans which between them account for about 26835 of this. This leaves approximately 19719 of CC / HP debt. In good months we repay about 1070 a month. Other than the car loans it is all on 0% balance transfer cards. We snowball and tart our cards regularly. Last year we repaid over 10K :even after a blip where we added about 1.5k of new debt.

    So why the diary.... Well I really need to break my over-spending habits and clear debt once and for all. This year I am wanting to set up a new craft-based business to help me do that. I have never sold anything on Ebay or Etsy. I don't have a paypal account. I am debating whether to set up a company - to protect my income - as otherwise any profit will just get lost in tax. My goal for the business is not just to clear debt but also to help me fund my son at Uni.

    I need some encouragement to not give in and add to the debt when the going gets tough. I also need some impetus to actually sell what I'm creating and not sit back and be perfectionist and say its not good enough. I am a closet hoarder and that's a habit I also need to break. I have also written a kid's book. I need to finish editing the grammar and have the guts to submit it somewhere and not leave it to gather dust. Oh and me and my husband both work full time in reasonably well-paid jobs that leave little spare time. We also have a teenage daughter.

    I don't want to post an SOA as I have done Martin's Moneymakeover and know where we've been going wrong - mainly fritter and impulse spending. We've recently changed our utility supplier. Next I intend to look at our life insurance and employment insurance and see if we can make savings there.

    Thanks for reading. If any of you crafters out there have used craft selling to get out of debt, please share your story as it would encourage me.
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
Page 3
    • savingholmes
    • By savingholmes 21st Feb 18, 10:03 PM
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    savingholmes
    @vro is still the cheapest by over 25 a year so trying again. Will ring them and see if there is anything they can do to expedite the switch tomorrow. Still frustrated. Set up direct debit on a different bank account - that gives me the required 2 direct debits to enable me to switch my bank account and earn some money. So at least I have that to look forward to.

    Don't want too many credit checks in a short period though so may apply for a 33 month balance transfer card first. Then I can switch BC if necessary and perhaps my M&S balance - one is due 1 April, the other 15/6. The credit club says I am eligible but not the CC limit I am likely to get...
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • savingholmes
    • By savingholmes 22nd Feb 18, 10:26 PM
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    savingholmes
    I've been trawling mse to look for anything else I may be able to reclaim and found some. It turns out that B@rclays paid 156 tax on my behalf on the money they refunded me and I should be able to claim that back using an R40 form - job for the weekend. That will be amazing if I get that back too - may also get some other money refunded as I didn't know there was any tax free elements to interest payments. Looks like OH will need to do a form too as paid into a joint bank account.

    OH has reported the pot hole which is the first step in claiming. He is getting his car fixed on Saturday - 111 and then will need to send off a claim. Let's hope that doesn't take too long. He reckons his tyre depth on his existing rear tyres will last at least another month so waiting.

    This weekend having an eye test - going to @sda which tends to be the cheapest in my area. Hoping don't need varifocals but I may do... Plan to list some items for sale at the weekend on facebook or ebay or gumtree. Hopefully they will help to the 10 a day challenge in both Feb and March. Would be good to raise some extra cash just to all these unexpected bills even without considering the debts...
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • savingholmes
    • By savingholmes 22nd Feb 18, 10:49 PM
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    savingholmes
    Today paid normal payment of 273 off a loan (APR circa 3.2%).
    So far since pay day mid Feb - repaid 703.38
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • savingholmes
    • By savingholmes 23rd Feb 18, 4:34 PM
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    savingholmes
    Sold a bottle light for 12 today - my first sale! Woohoo. Gives me more confidence in my pricing and that others will potentially buy.
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • savingholmes
    • By savingholmes 24th Feb 18, 8:04 AM
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    savingholmes
    So between last night and getting up at 6am today, I have glass painted 6 more bottles and jars ready to sell. They are all images at the moment - and I am still debating whether to add any words or let the pictures speak for themselves. I am currently targeting sales at Mother's Day and Easter. Some of the things I make are also likely to become family and friend presents for any birthday or special occasions along the way.

    I still have about 15 pieces of glass to decorate but as I get to the end of those I will ask friends and family for more of their recycled items. I got given some fantastic candle jars - including ex-yankee candle jars as well as wine and @ppletise bottles etc so have a choice of making bottle lights or jars for candles. Even the candle jars could become jars for make up or cotton buds etc.

    I also use coffee jars - D0uwe Egb3rts are my favourite as they have a glass lid with a rubber seal. In the past I've make "Life Makeover" or "Journal" in a jar or "40th" presents using jars. I got that idea from the MSE Celebrations Board years ago. I've also had some interest at work in the wooden hearts I've decorated with decoupage and transparent printed words that I stuck on afterwards.

    A friend of mine is getting married soon and rather than giving money, I want to make them a bead and button heart shaped wreath style wall hanging. I've got most of what I need - just need a few more beads. Planning to trawl charity shops for them as you get a lot more than when buying new. A pot of beads at H0bbycr@ft is about 7 ish and you don't get enough for what I want to make. Many of the beads they sell online are too small. If this one works out well - I hope to use it as a template to make others. The idea came from an upcycling/vintage craft book I have. Picture Kirsty's homemade home - although this was a cheaper version...
    • A friend of mine told me where I can get a trial market stall for 11 a day on an indoor market and somewhere else where I can get a craft stall for 5 a day.
    • Still weighing up the cost of insurance though. (It looks like it could cost 100-150 a year) It's a catch 22 - need some money to pay for the insurance - but risky selling in public without it.
    • I potentially also need to buy some candle warning stickers and some "decorative item only - not suitable for 0-3" type stickers (say 5).
    • Ideally I would also have business cards (25-50). But again - before I print them - I could do with some money - and if things don't sell I don't want too big an upfront cost.
    • Again, if I was going to give out business cards - I would want a website (7 for the name I want and then possible a hosting package) or facebook page (free) to link to which is again all time and money.
    • This all brings me back to the tax issue - as I can earn about 1K before having to register for tax - but as soon as I go over that I need a company set up (about 20 and then on-going liabilities for accountancy reporting etc). I really need some accountancy advice but am unsure where I could get that free / low cost. I earn decent money so don't want everything I make swallowed up in tax. Judging by the list of costs above though it could take a while for me to make any profit at all.
    • I do have other business ideas that long term I would like to do through a company if I set one up including running various workshops - Christian Retreat style, Crafts, Writing, Coaching and Vision Boarding. I have training in all of them. I would also like to sell clothing with my company logo on that I think could work - a friend has a company that could source this for me. I have also written a teen's book that I hope to publish at some point and channel the money through the company to minimise tax.
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • savingholmes
    • By savingholmes 24th Feb 18, 2:33 PM
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    savingholmes
    Good news - can get varifocals at @sda for the same price as standard.

    I have made my first heart and have enough beads left to make at least another one possibly two. I need to get some sort of ribbon or chain to hang it up with now.
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • Drawingaline
    • By Drawingaline 24th Feb 18, 7:37 PM
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    Drawingaline
    Well done on the sale!

    I can see your dilemma re selling larger amounts.
    • savingholmes
    • By savingholmes 24th Feb 18, 8:13 PM
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    savingholmes
    Thanks for commenting Drawingaline. I think I will use some of my monthly allowance in March towards setting up a company - even if I leave it as dormant initially and perhaps buy the website name. Still not listed anything on facebook buy and sell group. Had a nap for about 3 hours this afternoon, I was absolutely shattered.

    I need to send about 94 of clothes back to Debenhams but that will need to wait until Monday now.
    I still need to fill in the tax form but don't have the mental energy right now - and could do with finding the letter from B@rclays.
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • savingholmes
    • By savingholmes 24th Feb 18, 11:05 PM
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    savingholmes
    Reviewed our spends this month. I am still fritter spending - home bargain, poundland etc. Need to bring that under control as that is taking 100+ a month. Does include toiletries, groceries etc but not in budget.

    Feeling the pinch now giving DS 400 pcm for uni. Before Christmas was only spending about 75 a month on him unless he had an emergency so a big jump. Not quite tightened our belts enough to compensate.

    Gone through our anticipated payments for February and even if we were pretty good from here on in - going to end up using approx 900 of our savings. That is due to some unexpected things:
    • 111 car bill
    • 99 opticians bill
    • Plus
    • Had missed 273 recurring payment out of my original forecast
    • DH has a one off pre-planned trip down South for which we've allowed approx 100 plus fuel
    • Allowed 150 for new utility supplier as they want to take first payment 21 days before switch (so two payments in one month - also have debt with existing supplier as the DD is set too low)
    • Unplanned spends of circa 150 - need to get on top of this.

    So unfortunately - I think I am going to have to do a balance transfer rather than use savings to pay down debt when 0% runs out on part of my balance on 1 April. Have several 0% offers available so not an issue per se but just hoped to be in a better position. Will need to become a lot more disciplined.
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • savingholmes
    • By savingholmes 25th Feb 18, 9:11 PM
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    savingholmes
    Really frustrated - our hob slants slightly - I had cooked the majority of a spaghetti bolognese - went to get chopped tomatoes and the pan slid while my back was turned and the whole lot ended up on the floor!!!!

    So disappointed. Waste of money and effort. Was trying to get ahead and aid my weightloss by batch cooking and just ended up with a mess. Roped DH in to clean the mess up as it's too disheartening.

    Will then need to go back in and cook a couple of chicken casseroles. One is for a friend who has just had an operation and we are part of a meal rota. We're due to see them tomorrow...
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • milann
    • By milann 25th Feb 18, 9:34 PM
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    milann
    Hi SH found you.

    Wow ds at uni and teenage dd - doesn't seem 5 minutes since you were looking for things to decorate dds bedroom.....how time flies when you're having fun....

    The craft ideas sound good - I've played with the idea many times but for me 'having' to make crafts would take the pleasure out of it as I make when I feel like making - I made cakes at home for many years for friends and friends of friends - I didn't make much for the effort that I put in and I got fed up of it taking over my kitchen and having to buy takeaway as my kitchen was full of cake bits..... I considered premises but decided it wasn't for me. I occasionally do a cake as a present and enjoy it again and find it relaxing whereas it was getting a chore. Lol I think my hobby became collecting craft stuff rather than crafting - I've still got a room full of card,papers, stamps and material and rarely get round to doing things although I've knitted a lot for my 2 granddaughters.. Good luck with your venture
    • savingholmes
    • By savingholmes 25th Feb 18, 10:21 PM
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    savingholmes
    Thanks Milann. I was like you a room full of craft and not doing much with it so I decided I may as well use it up and try and sell it. My main job is very demanding and I need to do craft / colouring / something similar as light relief so may as well get paid for it.

    I added 1K to our debt last year (cough) doing up both kids bedrooms, new carpet and new paint. At least I had something to show for it that time. Still paid off 10K last year even accounting for that 1K.

    I am exhausted atm. Went to bed yesterday afternoon for several hours and did the same today. Hoping things improve soon. Done some more glass painting today - but that was still fun. I mic snf match my craft activities to avoid boredom... I have quite a lot of kit lol.... If I do manage to finally sell some of it I may get to reclaim my so called study.... I could do with a week off just to sort my house out but that will have to wait until Easter.

    I have looked at my budget again... In theory it should work - but requires no fritter spend, a strict 400 pcm limit on groceries and household items and a 50 max eating out budget... If I could just do that the budget in theory works. But in practice still spending hundreds more than that.... I am getting food delivered but made the mistake of nipping in for some bits several times and it all mounts up. So my plan for the rest of the month is to do my best to stick with online food delivery and avoid the shops altogether.... Then I have a chance. Cupboards and freezer reasonably full though so may be able to recoup some of it...
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • savingholmes
    • By savingholmes 26th Feb 18, 12:00 AM
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    savingholmes
    Finally got the chicken casseroles done. Have made 4 portions of baked oats as snack / breakfast during the week. Also make a strawberry overnight oats. Hopefully that will help me be on plan for sl1mming w0rld. Could take salad, baked beans, cheese and jacket spud for lunch tomorrow.

    Still need to do this week:
    1. Send stuff back to D3b3nhams
    2. Do Tax reclaim form for both of us
    3. See friend who is recovering after operation
    4. Work full time
    5. Church
    6. Course (one evening per week)
    7. Try and sell some stuff
    8. Look after self and family
    Last edited by savingholmes; 26-02-2018 at 12:01 AM. Reason: make less searchable
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • milann
    • By milann 1st Mar 18, 7:52 PM
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    milann
    Sounds like you've got a plan
    • jwil
    • By jwil 2nd Mar 18, 12:56 PM
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    jwil
    Good luck with the list
    "If you can dream it, you can do it". Walt Disney
    • savingholmes
    • By savingholmes 4th Mar 18, 4:54 PM
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    savingholmes
    Thanks Jwil and Milann for posting. Had a majorly busy week but where things didn't go quite as planned. Snow and ice disrupted our plans as did lingering exhaustion. Did get to see my friends but didn't go to two of my planned events this week. Still need to do tax form and send stuff back.

    Not really been that on plan this week.... with diet or money. Went out with friends to someone's leaving do yesterday which cost about 40 and OH went away for a few days which cost nearly 200.... So not great. But neither of us would normally do these things so hopefully it will work out over the year. The only pot to take it out of is our holiday fund but that may make it hard to have a family holiday later in the year... Keep procrastinating over sending the stuff back... but need to hurry up as it is worth approx 94...

    Struggling to move utilities as the new supplier is saying my meter number is registered against a plot number and not my actual address so need to resolve that now too.
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • milann
    • By milann 5th Mar 18, 7:44 PM
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    milann
    Be strong and take them back - keep your goal in mind
    • redofromstart
    • By redofromstart 5th Mar 18, 8:12 PM
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    redofromstart
    hi Good ideas with the business stuff, made me think too.

    Business cards, we paid about 20 for 500 reasonable ones using our logo. Can find the link if it would help. Public liability was 140 ish last year but that includes professional indemnity for us as we both have to have it for some contracts. There are a few online accountancy places that are quite reasonable, scariest quote was for local chap who wanted over 1k to do simple couple of payments in, couple of payments out per month limited company accounts.
    • savingholmes
    • By savingholmes 6th Mar 18, 5:09 AM
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    savingholmes
    Paid 125 off BC

    Can't sleep so just applied for a new 0% balance transfer card. If I get it - would be for up to 37 months which would be amazing. In theory I am eligible - just don't know if they will give me the limit I want. But anything for that length of time would be amazing. It would only be a 1% of balance minimum payment too which would give me a fighting chance of clearing other CC balances before their 0% runs out. If they say no - I have other options on my existing cards...

    With the sending stuff back - happy not to keep the items - just procrastinating. But I agree Milann - I need to crack on with it. Will label them up now since I'm awake anyway and try to get them gone. May then see if I can get back to sleep or may just stay up and go to work early and finish early.
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
    • savingholmes
    • By savingholmes 6th Mar 18, 5:18 AM
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    savingholmes
    hi Good ideas with the business stuff, made me think too.

    Business cards, we paid about 20 for 500 reasonable ones using our logo. Can find the link if it would help. Public liability was 140 ish last year but that includes professional indemnity for us as we both have to have it for some contracts. There are a few online accountancy places that are quite reasonable, scariest quote was for local chap who wanted over 1k to do simple couple of payments in, couple of payments out per month limited company accounts.
    Originally posted by redofromstart
    Thanks for commenting. Ouch to 1K quote. I am debating whether to get a personalised stamp or stickers made which may be a better option than the cards as it would at least give my logo. Either way - making myself wait until payday. A friend has approached me to buy one of my candle jars - so if he goes ahead that should give me another 8. It's really cute with a cat with big eyes so I think I will make some more of that one. Hopefully that will also give me the push I need to list on the local FB buy and sell group as people are validating that my crafts are good enough which is part of the resistance I am experiencing to trying to sell properly. You know that whole, "It's not perfect, is it good enough" thing we perfectionists have going on....

    I decorated a green bottle with a ship painting too recently. At the weekend I added embossing powder and a gloss varnish to it and it looks stunning. I should definitely advertise that too - again I find it hard to part with stuff... part of my battle against clutter and hoarding that I definitely need to break. Ideally I want about 16 for that one....

    Earlier I was like... I've not got much to sell and then I remembered I'd hidden them in a cupboard in DS's room
    Today is a new day 93/310 10 a day Mar Challenge DFD August 2021
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