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
    • RhiBi
    • By RhiBi 1st Apr 18, 6:19 PM
    • 606Posts
    • 1,761Thanks
    RhiBi
    The light is well and truly on!'
    • #1
    • 1st Apr 18, 6:19 PM
    The light is well and truly on!' 1st Apr 18 at 6:19 PM
    Hi everyone, I've hesitated to start a diary but after reading quite a few diaries, I'm taking the plunge! I thought I'd start by telling you a little about myself and am planning to post a SOA later when we've had a chance to sit down and work it out


    So, I am Married with 4 daughter's aged 20, 17, 13 and 11. The eldest is in her 3rd year of university and the second is planning to start uni in September. We also have a cat and a dog!

    I didn't work for approximately 10 years when the children were smaller, my husband has a fairly well paid job, but even so, we lived beyond our means. My mother lives in USA and we certainly took too many holidays across the pond in the children's earlier years. We've not been for 7 years now, although we have booked flights (which my mother kindly paid for) this summer as my eldest daughter's turn 21 & 18 in July.

    I went back to work in 2014, initially working a few hours a week as a teaching assistant in my daughters' primary school. My hours have increased over time, however, in 2016 I was diagnosed with breast cancer which certainly had an effect in finances that were still feeling.

    In February 2015 we took out a 15,000 loan to buy a used car and touring caravan. We had a fantastic summer in France in the can, but we soon realised that the van we bought didn't suit our needs, and in September of that year we part exchanged the van for one more suitable - taking out another loan for 11,000. In February 2016 I was diagnosed with breast cancer and was off work for 6 months, my sick pay was reduced after 12 weeks and again credit cards filled the gap. I had 5 operations in 5 months, the last being in July. I went back to work 6 weeks after my last op, mainly for financial reasons. In July 2016, the timing belt snapped on our car and we had little choice but to buy a car on finance. Husband needs a car to get to work, as a family of 6, a small car is not an option. We had another holiday to France booked, which we all really needed after the stress of my diagnosis. The upshot was that in the space of 16 months we'd taken out 3 loans.

    I'm back in work and recently had my 2 year mammogram which was thankfully clear

    In January this year, I came back to this site with a determination to sort our finances. I've joined a few challenges, and am starting to see the benefits. My Next account alone has gone from 2000 owed to 1370, just by PADding 2 a day in addition to the usual payments.

    So, I think that's where we're at. Credit card debt is around 20,000 which is what I want to focus on. The loans are ticking downwards and for now we're happy for them to do that. If and when the cards are paid off then we'd look into making extra payments to the loans.

    We've obviously got this holiday to consider too and we need to start getting a pot of spending money together. Hopefully, my soa and advice from everyone here will help with that.

    I don't think I've ever written such a long forum post, so well doneif you've got this far!!
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
Page 3
    • enthusiasticsaver
    • By enthusiasticsaver 5th Apr 18, 2:54 PM
    • 7,194 Posts
    • 15,658 Thanks
    enthusiasticsaver
    Just to briefly hijack this diary - do you have separate bank accounts for all your different categories? I know I'd benefit by putting bits away once I'm more organised with everything and wondered if it'd mean having 10+ bank accounts.
    Originally posted by stinabean
    I don't think it is necessary to have lots of bank accounts but five or six is ok. Some can serve more than one purpose and maybe just two current accounts and the rest internet savers.

    It is a good idea to have an emergency savings account (maybe a cash isa?) which does not get touched except for emergencies not budgeted for.

    Having a bills account is also a good idea where all the direct debits come from and a certain amount goes into that each month after you are paid. Keeping an extra amount in there for annual bills like insurances is also worth doing.

    Fuel, groceries and general living expenses can go in a separate account for everyday discretionary spending.

    I have a holiday savings account and a car and house savings account. Both internet savers so easy to move in and out. Last one is a gifts and Xmas fund but I keep that in our bills and annual expenses account.
    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
    • Mumoffourkids
    • By Mumoffourkids 5th Apr 18, 3:17 PM
    • 697 Posts
    • 3,616 Thanks
    Mumoffourkids
    I have two current accounts, one has all my income coming in and my bills go out of that one and one I transfer money over to weekly for food, petrol, pocket money and general spending.

    Then I have the following savings accounts:
    Contingency
    Clothes
    House maintenance
    Car (includes tax, insurance, maintenance and breakdown)
    Presents
    Holiday childcare
    Holiday
    Isa (for house deposit)

    I get money in weekly so I have set up a standing order to come out of my current account to each of those savings accounts each week. When I started in January this year I found I was using the weekly savings amounts each week especially clothes, but now I have some money saved up in there which will help with things like school shoes etc.

    I suppose you could have one savings account and then keep track of what each bit of money is in there for on a spreadsheet but I like to have separate accounts so I can see at a glance how much I have in each category.

    I have only been doing this since January and I have seen such an improvement in my spending habits since then. I have had some luck with my debts but in general giving myself so much to spend each week really helps.
    Total debt Dec 2017 23090.83
    SEP 2018 0 100% paid
    Emergency fund 257.38/600
    Total Savings 1672.07
    • RhiBi
    • By RhiBi 5th Apr 18, 3:32 PM
    • 606 Posts
    • 1,761 Thanks
    RhiBi
    Was it a hassle to open the various accounts?

    We have our joint current account with Nationwide, then DH's current account (he's had it since a student!) that is where all our bills come out of.

    I have a cashbuilder account with nationwide too. This was pretty much dormant until January this year when I started the virtual sealed pot challenge over on the other board, so it currently has over 130 in there (incidentally, I forgot about it in my SOA). Its not for anything in particular, but I don't want to touch it, so I'm kind of forgetting about it.

    I also have a Smile (co op) savings account. Our child benefit goes into that and I transfer it if and when I need too. Any money I make from sewing also goes in there, and I try to keep that for holidays and Christmas.

    For some reason (and I don't know why) I am nervous of having lots of bank accounts. Maybe its because I've been struggling with keeping track of direct debits, and the thought of money moving from our current account worries me. I don't think I'm explaining that well though!!!
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
    • RhiBi
    • By RhiBi 5th Apr 18, 3:35 PM
    • 606 Posts
    • 1,761 Thanks
    RhiBi
    Frustratingly, I've just had an email to say that one of the direct debits I've moved today isn't allowed. Its the council sports centre one of 28.50. As its a cheap rate as I am an employee, it can't come out of an account that is solely in my husbands name I've already increased the dd to that account taking this amount (28.50) into account. I feel like I'm paying for it twice now I guess I could change it again though, but I wanted it all to be streamlined Thats burst my bubble a bit.
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
    • RhiBi
    • By RhiBi 6th Apr 18, 8:54 AM
    • 606 Posts
    • 1,761 Thanks
    RhiBi
    Morning!

    I had a lovely night out with friends last night, I only spent the money I'd been given for the cushion I'd made, so I was pleased with that! We had a fun night, and it didn't cost a lot

    Bank balance checked this morning and all is looking ok there. I'll certainly be able to pay extra off my Next or littlewoods account, but want to wait until my pay goes in next week to do that. In the meantime, I'm still PADding the next account daily! It's surprising how that makes a difference, but it's time to make bigger differences too!

    Today will be food shopping, My freezer stash of meat is running low and I've got a musclefood order scheduled for next week, so it'll be a make do week until then!

    I'm going out with a friend this afternoon to do some geocaching, no spends, but some fresh air

    This evening, my youngest daughter is sleeping over her friends house as a birthday sleepover! Somehow though, I've agreed to daughter no.3 having a friend here to sleep!!! So the adult:child ratio is not decreased at all, but I fear my sleep will this tonight!!!

    After sorting a lot of things out moneywise yesterday, I feel the need to do something today too! I guess the keeping a cap on spending is what I'm doing, but I feel I should be doing more!! At the moment I'm trying to get into a more conscious mind about spending money, it's working, so it's all good!

    Right, I've finished my cup of tea so I'm going to leave you for now, I'll be back later with my meal plan and grocery spends!

    Have a good day everyone xx
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
    • RhiBi
    • By RhiBi 6th Apr 18, 9:39 AM
    • 606 Posts
    • 1,761 Thanks
    RhiBi
    http://

    Meal planning for next week completed, shopping list underway
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
    • stinabean
    • By stinabean 6th Apr 18, 10:36 AM
    • 99 Posts
    • 91 Thanks
    stinabean
    Ooooh got me wanting a Jacket Potato now! I always forget these when I'm meal planning!
    • RhiBi
    • By RhiBi 6th Apr 18, 12:28 PM
    • 606 Posts
    • 1,761 Thanks
    RhiBi
    Grocery shopping done 42.50 spent at Lidl. I actually prefer Aldi, and think it's cheaper, but it's about 22 miles further away! There's a new Aldi being built a few miles away though
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
    • RhiBi
    • By RhiBi 7th Apr 18, 8:14 AM
    • 606 Posts
    • 1,761 Thanks
    RhiBi
    Morning!

    Dh is working 9am-9pm today, the type of job he does means there's no pay enhancement for working a weekend, so it sometimes feels like it just eats into family time. But it's got to be done so no point in moaning!

    Talking of moaning, I had a down day yesterday, or should I say evening. We have to do daughter #2 student finance application and all I could see was debt and it just feels never ending. Daughter then had a typical teenage hissy fit about how she can't get a job and study, even the school have apparently said her chosen degree will be a extremely hard work and no time for anything else - I doubt that very much!!!

    Just feels all too much at the moment ;(

    I'll bounce back, I always do, I'm just fed up of having to at the moment.
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
    • stinabean
    • By stinabean 7th Apr 18, 9:48 AM
    • 99 Posts
    • 91 Thanks
    stinabean
    Don't worry about DD2 - I imagine once she's settled in and realises she wants money for going out etc she'll make it work!
    • RhiBi
    • By RhiBi 7th Apr 18, 12:29 PM
    • 606 Posts
    • 1,761 Thanks
    RhiBi
    She'll have to...

    I'm going to go out for a few hours, walk the dog etc, hopefully it'll clear my head a bit...
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
    • doingitanyway
    • By doingitanyway 7th Apr 18, 6:17 PM
    • 3,407 Posts
    • 18,520 Thanks
    doingitanyway
    Hope the walk shifts the head. Debt can get you down sometimes but you'll get through it
    Emergency fund 700/1000
    If not now then when?
    • RhiBi
    • By RhiBi 8th Apr 18, 9:10 AM
    • 606 Posts
    • 1,761 Thanks
    RhiBi
    Morning! Apologies for my moaning yesterday, I had a real down day . So much so, I did an over spend in Tesco because I didn't stick to what I'd poppedin for. I've given myself a talking to, I'm not going to dwell on it, just move on with today.

    Roast chicken dinner is on the menu today, I've got everything here for it, so no spends today . I'll also have enough left for tomorrow's main meal too!

    Other than that, it's a fairly quiet day, cleaning, etc!

    Have a good day everyone!!
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
    • Chrystal
    • By Chrystal 8th Apr 18, 1:43 PM
    • 464 Posts
    • 2,986 Thanks
    Chrystal
    Don't apologise for anything you write in your diary - it's YOUR place to offload and it helps to get it out of your system - it's also better than being done for assault and battery on hissy fitting teenagers

    Glad you've wiped the page clean and feel a little better. ((hugs))
    I Believe.....
    That it isn't always enough, to be forgiven by others.
    Sometimes, you have to learn to forgive yourself.
    • RhiBi
    • By RhiBi 8th Apr 18, 2:11 PM
    • 606 Posts
    • 1,761 Thanks
    RhiBi
    Thanks Chrystal

    Today will be a no spend day so it'll compensate somewhat for yesterday's misdemeanours!!!

    A quiet day, doing some cleaning mainly. Oh, and we've filled in the details for student finance Wales... I wish they'd take into account disposable income though as dh does have a relatively well paid job but it doesn't mean we're well off!!!

    Right, time to put the chicken in the oven
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
    • RhiBi
    • By RhiBi 8th Apr 18, 2:41 PM
    • 606 Posts
    • 1,761 Thanks
    RhiBi
    Does anyone have pet insurance who can help?

    Our jack Russell is 4 years old and pet insurance is almost due for renewal. Just after we took out the policy nearly 4 years ago, the dog had an injury which resulted in a broken leg needing surgery . Tesco pet insurance paid out, minus the 75 excess.

    Consequently, I've always been of the opinion that moving the policy to another insurer will cause no end of problems as it would be an 'existing condition' as he has pins in his leg. Is this actually the case? Or is it worth looking around?
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
    • RhiBi
    • By RhiBi 8th Apr 18, 3:17 PM
    • 606 Posts
    • 1,761 Thanks
    RhiBi
    A quick phone call and the pet insurance has been moved to the bills account . Policy renewal is 31st May so we'll look to switching at the end of this month! House insurance is also due so we need to investigate that too!

    The only bill coming out of that current account now is the sports centre one that the council wouldn't change!!! I can live with that!
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
    • Chrystal
    • By Chrystal 8th Apr 18, 3:58 PM
    • 464 Posts
    • 2,986 Thanks
    Chrystal
    I think you'll find that any problems with that particular leg wouldn't be covered by another insurance firm. Worth asking about though, but get anything they say in writing......
    I Believe.....
    That it isn't always enough, to be forgiven by others.
    Sometimes, you have to learn to forgive yourself.
    • RhiBi
    • By RhiBi 8th Apr 18, 4:03 PM
    • 606 Posts
    • 1,761 Thanks
    RhiBi
    I think you'll find that any problems with that particular leg wouldn't be covered by another insurance firm. Worth asking about though, but get anything they say in writing......
    Originally posted by Chrystal
    I suspect you're right, but I'll try a few companies to check!
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
    • RhiBi
    • By RhiBi 10th Apr 18, 8:49 AM
    • 606 Posts
    • 1,761 Thanks
    RhiBi
    Morning! I didn't get on here yesterday, I had a hospital appointment which had me out most of the afternoon, all good though and no need to go back for 9 months unless I feel the need to

    I didn't have the best MSE day yesterday though. As I've mentioned in other posts, I do a fair bit of sewing and make a little pocket money from it! I have quite an expensive sewing machine, it cost me 2000 5 years ago. It's been used a lot over Christmas and was starting to sound noisy, so I took it for a service. That cost 79.95 !!!55357;!!!56878;. I used it last night and it's sounding so much better, but it's an expense I could have done without, and should plan for.

    In other news, I've set myself a target, whether it's over ambitious, time will tell! I want my next account, which currently stands at 1376, to be paid off by the end of July when I go on holiday. It was just over 2000 at the beginning of January, so on that basis, it does appear to be ambitious, but it's a challenge, and I can but try!!

    Also, I've been looking at my bank accounts, and I/we have 2 instant access nationwide accounts that we don't use. I'm therefore thinking of using them as an account for some of my 'pots' for certain expenses. I have a Smile account where sewing money goes, and I try to keep this for holidays and Christmas, so that category is sorted. I'm thinking of using one for household/car and I'm not really sure on the other, so any advice would be welcome!

    Nothing planned today really, youngest daughter wants to go to the library to exchange her book, and I'll go to the post office the same time to post a cushion!

    Main meal is jacket potato, fish and salad. I've everything here for that so nothing needed there

    Have a good day everyone
    Virtual Sealed Pot 2018 #7 297/350

    1 debt vs 100 days 323.72/1000
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

92Posts Today

1,578Users online

Martin's Twitter