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    • Stayathomemum36
    • By Stayathomemum36 4th Feb 18, 2:06 PM
    • 48Posts
    • 155Thanks
    Making The Changes and Sticking to it!
    • #1
    • 4th Feb 18, 2:06 PM
    Making The Changes and Sticking to it! 4th Feb 18 at 2:06 PM

    Ive been a lurker on here for a while but have decided that I want to document our journey to allow us to look back on it! We are a family of 4 and due my OH working away for periods of time I became a SAHM to our children ( 4 & 7). Over the last 10 years debt has run up due to bad budgeting, essential home repairs, over spending and we have transferred from 0% to 0% card without actually making a real inroad into the balance.

    I am a savvy shopper when it comes to utilities, insurance, mortgage and I feel that I have these at the best possible level for now. Where we can save money is the Amazon spending, better meal planning and day to day spends. We just fritter money away and it has to stop!

    Since November we've made a real effort and have now had 3 consecutive months where we have not used our overdraft on our main current account despite having some large car repair bills and the dishwasher to replace Do I reduce this over draft facility now? Its 550.

    We had a loan with Santander that was taken out over 2 years to purchase a trailer (for camping), we paid this off 6 months early at the beginning of december (597). I have also been chipping away at the remaining debts and have paid 818.00 this month due to careful spending and as DH had some extra pay.

    So the remaining debts are as follows
    1. B/Card - 15535 @ 15%
    2. RBS - 6636 @ 12%
    3. MBNA - 6148 @ 0%
    4. Next - 458 @22.9%

    Total: 28,777.74

    Emergency Fund: 366.70
    Holiday Fund: 55.06

    I don't think we can get any transfers to a 0% card just now so I am concentrating on paying the highest rate first which is Next. I have reduced this by almost 200 since Jan.

    We have set up a separate current account with Nationwide to cover food, diesel, clothes etc and my task for this month is to split this up into a budget for the 4 weeks. I have done a meal plan for the full month so this should help with our food shop. At the moment we spend around 230 for the 4 of us (including toiletries and household).

    Will post some more later on but just wanted to say hello and that I've been inspired by reading others diaries! Ive joined the PAD and the 1000 emergency fund challenges too We just need to keep the momentum up.
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    • Drawingaline
    • By Drawingaline 1st Mar 18, 5:57 PM
    • 431 Posts
    • 1,447 Thanks
    Brilliant, well done
    • Stayathomemum36
    • By Stayathomemum36 3rd Mar 18, 3:04 PM
    • 48 Posts
    • 155 Thanks
    Hello March - Goodbye Next!
    Today I called next and reduced the limit on the account right down to 250.00 (It was 500). I haven't bought anything on it for 5 months so was in two minds whether to close it. I also asked them not to automatically increase the amount. Emergency fund has been topped up to 603.00 and I have bought the birthday gifts, dog food etc that we need for the rest of March. I used some money from the emergency fund to be able to pay the home insurance annually. Got a great cover and price via Aviva and Quidco. I put the money back into the emergency fund when OH got paid. Even now I feel that the emergency fund is getting there.

    Just going over the spending from last month and we were spending more on food than I anticipated, not massively but this month I want to look at it even closer.

    The next debt to be tackled is the RBS card with around 6500 balance. Aiming to pay a Direct Debit of 420 and add any payment a day that I can. If we could pay 500 a month to this it would be great. Paying off Next has been a boost.

    Been busy doing things at home, turned my office into a playroom and moved my "office" to under the staircase in the lounge. It has cost us nothing other than time! Love Pintrest!
    Last edited by Stayathomemum36; 03-03-2018 at 3:07 PM.
    PAD 2018 867 1k emergency fund chall 368 / 1000. DFD "Making the changes and sticking to it".O/D 550/0 [STRIKE]Next 636 0[/STRIKE CC Debt: 2903127,753
    • Onebrokelady
    • By Onebrokelady 8th Mar 18, 10:57 PM
    • 369 Posts
    • 992 Thanks
    Well done on the Next debt and the emergency fund,mine is getting there slowly,Im still finding it weird to have savings as Ive never had any before
    I also love Pinterest its so addictive though,I can waste hours looking at stuff on there
    Just keep swimming
    Original Debt Owed Jan 18 = 17,630 Paid To Date = 770.00 Total Now Owed = 16,860
    Emergency Fund = 400.00 Xmas savings = 250.00
    • Stayathomemum36
    • By Stayathomemum36 4th Apr 18, 3:19 PM
    • 48 Posts
    • 155 Thanks
    March - Grrr
    Well what a month march budgeting meant that our daughters birthday was all paid and budgeted for...thats where the good news stops.

    My almost 2yr old iPhone broke and couldn't be fixed...I couldn't justify the cost for another iPhone so decided to go for something a lot cheaper at 17 a month but I had to pay 100 to come out of my contract Then we had another car repair..the motor went on the other rear window so that was 185.00, both kids needed new shoes that was 105...both require a certain brand due to feet issues so no room to save there. Finally our almost 11 year old dog was poorly and has needed more medication and tests. So we have halved our emergency fund but I guess the small positive is that we had the fund there to use.

    Looking ahead our dog is being put to sleep on 13th April so there will be more costs there, we can claim some back on insurance eventually but need to pay upfront. We have a lot of family birthdays end april but I have bought all of the gifts.

    Kids are into their second week of easter holidays and I'm doing ok cost wise..We've been swimming once which only cost 4 as they swim free in the holidays, we went to a free egg hunt and have been to the free gardening club at the garden centre today. Biggest cost was a trip to the cinema yest at 15 for the three of us. Takes my holiday activity spend to 19 so far...I imagine another swimming trip this week but thats ok and Im pleased that we've been able to use a lot of what we have here. Den building was great fun in the living room

    Right now I could just run away but trying to start april with a renewed focus on YNAB, NSD and paying off more debt. We paid 992 to our debt in March which was really good. I just need to pick myself up and start again.
    PAD 2018 867 1k emergency fund chall 368 / 1000. DFD "Making the changes and sticking to it".O/D 550/0 [STRIKE]Next 636 0[/STRIKE CC Debt: 2903127,753
    • Drawingaline
    • By Drawingaline 5th Apr 18, 8:07 AM
    • 431 Posts
    • 1,447 Thanks
    So sorry to hear about your dog, that must be a hard thing to go through.

    I hear you on the low cost holiday activities. I paid out for bowling and a trampoline place on Tuesday as that was my only day off outside of the bank holidays. I would go to the cinema, but we went twice in Feb half term so seen two of the film's as they are still showing and nothing serious is suitable. Annoying as we can go cheap as get tickets through hubby's work. We are only halfway through the first week of holiday too, but hubby is off next week so he can sort the kids out then.
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