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  • FIRST POST
    • crunch_time
    • By crunch_time 16th Jun 18, 12:12 PM
    • 1,186Posts
    • 3,553Thanks
    crunch_time
    Crunchy's Final Debt Free Diary!
    • #1
    • 16th Jun 18, 12:12 PM
    Crunchy's Final Debt Free Diary! 16th Jun 18 at 12:12 PM
    Hello everyone!

    Yesterday I celebrated 4 years of keeping a diary on here!

    So much has changed in that time. We have moved house twice, welcomed our daughter into the family and paid down a whole lot of debt and also racked up a whole lot more.

    Last year we managed to pay off around £12k of a loan in about 5-6 months and a year ago we had only £2800 left to go. We then decided to move and at the same time I quit a job I hated to do a course and I'm now about to set up a business doing something that I love.

    Moving house and living off one income has meant that we are now around £13k in debt again. I no longer feel guilty about it I just want to pay it off as soon as possible in a sustainable way that has little impact on our current living standards (we are quite frugal but could def improve).

    I'm calling this the final diary as I really mean it. This is my 5 diary I think in 4 years and we want to get our lifestyle nailed once and for all so we don't have to do this again and can move onto tackling our HUGE mortgage!

    I look forward to this challenge and hope that you will join me!

    Crunchy x
    1/1/2019
    Credit card debt = £18,695/£18,695
    Car Loan = £13,634/£13,634
    Holiday Balance = £5300/£0
    Emergency fund = £2400
Page 5
    • crunch_time
    • By crunch_time 10th Dec 18, 10:47 AM
    • 1,186 Posts
    • 3,553 Thanks
    crunch_time
    Right.

    Updated signature.

    My Sainsburys credit card hasn't really moved a lot but that's fine.

    Husbands Virgin has gone down £70 and my HSBC has reduced by £100 so a nice little start for this new era.

    I keep a spreadsheet detailing what each credit card consists off so it is satisfying to see what each payment is bringing down.

    Husbands £70 min payment has reduced some of the overspending from 2017 and my HSBC payment has reduced some of the food and petrol overspends from 2016. I like to pay the oldest debt first.

    While I am at it here is a list of the credit card debt on these too.

    My HSBC
    Mortgage Valuation £420 (was £500)
    Food and Petrol £300 (was £800)
    Holidays from 2017 £1220 - not paid off as needed money for surprise move.
    Costs for me taking a year off £910

    After food and petrol I am tackling the holidays

    Husbands Virgin

    overspends 2017 - £1500
    Overspends 2018 - £1690
    House costs (loft boarding, turf etc) £2470
    Cat vet bill £870

    So currently working on overspends 2017

    The first half of 2019 will be about balancing decorating the house and saving for the holiday and sticking to YNAB as we want to end once and for all the overspends on the husbands credit card.

    Right lots to do today so better get cracking.

    Crunchy xx
    1/1/2019
    Credit card debt = £18,695/£18,695
    Car Loan = £13,634/£13,634
    Holiday Balance = £5300/£0
    Emergency fund = £2400
    • crunch_time
    • By crunch_time 11th Dec 18, 7:47 AM
    • 1,186 Posts
    • 3,553 Thanks
    crunch_time
    All accounts reconciled on YNAB last night. We will have to dip into the oil money £80 for a few things but we can make it up next month and at least it’s not a credit card.

    I have a child at home with a sickness bug and the other one has their day off at nursery today so not planning on going anywhere.

    Going to make a big chilli and a big lasagne today to stock up the freezer. I also have some bananas to use up and apples to make sauce out of.

    Crunch xx
    1/1/2019
    Credit card debt = £18,695/£18,695
    Car Loan = £13,634/£13,634
    Holiday Balance = £5300/£0
    Emergency fund = £2400
    • Nicnak
    • By Nicnak 11th Dec 18, 8:33 AM
    • 1,708 Posts
    • 9,785 Thanks
    Nicnak
    How does it feel seeing it all written down? I get really stressed about it all. x
    September 6th 2017 - Updated 21st Oct
    Credit Card £0 now: £0 Tesco Loan £7500 = £0 Consolidation £15,000 = £10,580 Total = £25,330 £10,812 59% gone EMF #252 = £775/£1000
    Sealed pot challenge #024
    Pay off all your debts by Christmas #071
    • crunch_time
    • By crunch_time 11th Dec 18, 9:32 AM
    • 1,186 Posts
    • 3,553 Thanks
    crunch_time
    I don’t get stressed about it anymore. What’s done is done. I’ve learned that I need to think great about my life now rather than wait until it’s all paid off. I’ll still have the Sam problems as I do now and the £300 odd quid we currently pay on ccs will then be diverted to the mortgage so it doesn’t mean I’m going to be better off immediately.

    I’m focusing now on why go over budget rather than beating myself up about it

    Wx
    1/1/2019
    Credit card debt = £18,695/£18,695
    Car Loan = £13,634/£13,634
    Holiday Balance = £5300/£0
    Emergency fund = £2400
    • Nicnak
    • By Nicnak 11th Dec 18, 9:34 AM
    • 1,708 Posts
    • 9,785 Thanks
    Nicnak
    I donít get stressed about it anymore. Whatís done is done. Iíve learned that I need to think great about my life now rather than wait until itís all paid off. Iíll still have the Sam problems as I do now and the £300 odd quid we currently pay on ccs will then be diverted to the mortgage so it doesnít mean Iím going to be better off immediately.

    Iím focusing now on why go over budget rather than beating myself up about it

    Wx
    Originally posted by crunch_time
    I love this. I will try to get to this place. x
    September 6th 2017 - Updated 21st Oct
    Credit Card £0 now: £0 Tesco Loan £7500 = £0 Consolidation £15,000 = £10,580 Total = £25,330 £10,812 59% gone EMF #252 = £775/£1000
    Sealed pot challenge #024
    Pay off all your debts by Christmas #071
    • crunch_time
    • By crunch_time 24th Dec 18, 8:48 AM
    • 1,186 Posts
    • 3,553 Thanks
    crunch_time
    Morning all!!

    Currently trapped under a sleeping dog drinking coffee and it’s remonding me of the days 4 years ago when I would type updates on here with a baby in my arms. She is now 4 and sitting at the table playing on her laptop bossing her brother and her daddy around.

    We have come so far in these last 4 years. This last year has been a bit of a blip in the sense that the debt has gone up rather than down but for good reason. I have had a lovely time off with the children and feel like I have found myself again and you can’t put a price on that. It also feels like husband and I are finally on the same page. We have been using YNAB now for nearly a month and identified lots of areas for improvement in our finances ready to start the New Year.

    Our next steps are to get the budget in a good place and aim to get all this debt paid off by the time husband is 40 in two years time. We also have a house to decorate and a garden to landscape not to mention a big holiday coming up this summer.

    Our theme for next year is to proactively plan everything and YNAB will help with this.

    I’m promising to be a more regular diarist as well. It will be easier and more of a pleasure when the debt goes down rather than up.

    The moment Christmas is over I shall be putting together a plan of action to help us achieve this.

    Until then have an amazing Christmas everyone!!

    Crunch xx
    1/1/2019
    Credit card debt = £18,695/£18,695
    Car Loan = £13,634/£13,634
    Holiday Balance = £5300/£0
    Emergency fund = £2400
    • Nicnak
    • By Nicnak 24th Dec 18, 5:20 PM
    • 1,708 Posts
    • 9,785 Thanks
    Nicnak
    Merry Christmas Crunch xx
    September 6th 2017 - Updated 21st Oct
    Credit Card £0 now: £0 Tesco Loan £7500 = £0 Consolidation £15,000 = £10,580 Total = £25,330 £10,812 59% gone EMF #252 = £775/£1000
    Sealed pot challenge #024
    Pay off all your debts by Christmas #071
    • crunch_time
    • By crunch_time 28th Dec 18, 9:39 PM
    • 1,186 Posts
    • 3,553 Thanks
    crunch_time
    Fresh start 2019
    Evening debt free wannabes

    Hope you all had a good Christmas. I'm currently looking at the finances by myself, the husband has gone to bed as he's not well. He always gets ill this time of year it's really hard to watch. He works so hard all year and I think his body just crashes at the end of the year.

    Anyway, I just wanted to reflect on 2018 and set some goals for 2019 so here goes.

    Wow 2018 was such a year of change.

    I've been unemployed for all of it. Luckily husbands money covers the bills but this hasn't stopped us getting into debt. I have hate, hate hated that my business opportunity hasn't worked out the way I thought it would a year ago. It appears that I actually do love teaching but just hated having to juggle it with young children and husband working away a lot.

    The bottom line is I can't change the past but I can change the now and the future. And I'm so ready to do so. I'm looking forward to starting my new job next week and I'm looking forward to getting on with it in a new mindset and be more independent of my husband. Not because anything untoward is going on but because I want to earning my own money again and actually be on an upward trajectory for once.

    I've been going through his credit card and it doesn't look pretty and I'm about to add about £2000 plus to the virgin credit card at 0%. Our trial month of YNAB has shown us where we are going wrong so I have high hopes that we will work this out in 2019. I'm seriously thinking about going back to work full time in Sept 2019.

    Debt as follows

    Sains credit card - £5332 - will go down £70 a month this year with £45 a month interest!!! My plan is to 0% it as soon as possible and get it below £4k by the end of 2019.

    HSBC 0% - £2750 - should go down to £1650 by the end of the year and all the holidays from 2017 should be paid off by the end of the year. It's nice that this is the most stable and inoffensive debt.

    Virgin 0% I don't even want to think about this being £8900 ish next month but husband is committed to paying off £200 a month so this will get nicely down to £6700 ish by the end of 2019.

    HSBC - the one that causes us all the rubbish. Well, we are not linking it to anything anymore(like amazon) and hoping that this and YNAB stops a lot of the overspending which is our downfall.

    So our main goal is to stick to YNAB and not get into any more debt.

    Should be simple and easy to do and I am feeling good about 2019 already.

    Crunchy xx
    1/1/2019
    Credit card debt = £18,695/£18,695
    Car Loan = £13,634/£13,634
    Holiday Balance = £5300/£0
    Emergency fund = £2400
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 29th Dec 18, 6:57 PM
    • 38 Posts
    • 122 Thanks
    ohshithowdidthathappen
    Subscribed back :-)

    We seem to have followed the same pattern of financial ups and downs around kids and houses!

    Do you rate YNAB? I’ve been looking at it, but it looks a bit daunting
    • Nicnak
    • By Nicnak 29th Dec 18, 8:02 PM
    • 1,708 Posts
    • 9,785 Thanks
    Nicnak
    Glad YNAB is working for you. I'm sorry your business didn't work out either, but at least you realised quite quickly and didn't spend a long time doing something that you hated.

    I hope 2019 is everything you want it to be. x
    September 6th 2017 - Updated 21st Oct
    Credit Card £0 now: £0 Tesco Loan £7500 = £0 Consolidation £15,000 = £10,580 Total = £25,330 £10,812 59% gone EMF #252 = £775/£1000
    Sealed pot challenge #024
    Pay off all your debts by Christmas #071
    • crunch_time
    • By crunch_time 29th Dec 18, 8:34 PM
    • 1,186 Posts
    • 3,553 Thanks
    crunch_time
    Subscribed back :-)

    We seem to have followed the same pattern of financial ups and downs around kids and houses!

    Do you rate YNAB? Iíve been looking at it, but it looks a bit daunting
    Originally posted by ohshithowdidthathappen
    So far so good! I've tried it for a few months and then given up a few years ago so hopefully this time it will stick. It is easier with husband involved and doing the reconciling. It does take some time to get used to. You have to go by the budget rather than your bank account which can take some getting used to!

    xx
    1/1/2019
    Credit card debt = £18,695/£18,695
    Car Loan = £13,634/£13,634
    Holiday Balance = £5300/£0
    Emergency fund = £2400
    • crunch_time
    • By crunch_time 29th Dec 18, 8:35 PM
    • 1,186 Posts
    • 3,553 Thanks
    crunch_time
    Glad YNAB is working for you. I'm sorry your business didn't work out either, but at least you realised quite quickly and didn't spend a long time doing something that you hated.

    I hope 2019 is everything you want it to be. x
    Originally posted by Nicnak
    Thank you - you too!

    Im actually going to use everything I learned, just not in the way that was intended (if that makes sense).

    Crunchy x
    1/1/2019
    Credit card debt = £18,695/£18,695
    Car Loan = £13,634/£13,634
    Holiday Balance = £5300/£0
    Emergency fund = £2400
    • crunch_time
    • By crunch_time 29th Dec 18, 8:54 PM
    • 1,186 Posts
    • 3,553 Thanks
    crunch_time
    Evening diary!

    Starting strong for 2019 and it's not even here yet!

    The first DIY job of 2019 is decorating the sitting room so we bought paint (all budgeted for) but bought one too many tubs so will return one or exchange it for another colour for the next room we do - £20 saved.

    We also budgeted £100 for a few ikea organising bits and only spent £73 so I have 'slushed' the rest over onto the Virgin 0%.

    Speaking of which, I have added £2380 of credit onto it with a fee of 4% but 0% until 30th November 2019. So this now stands at a horrific £8882 and will be such a big nut to crack!!

    I also had a £35 in my purse as some Christmas money but decided to put it towards my HSBC credit card since this is the smallest. Although it is not much, this now stands at £2715.

    So some good stuff to begin with. All decs are now down and the big sort out of the house begins before I start my new job next Thursday!!

    Crunchy x
    1/1/2019
    Credit card debt = £18,695/£18,695
    Car Loan = £13,634/£13,634
    Holiday Balance = £5300/£0
    Emergency fund = £2400
    • crunch_time
    • By crunch_time 6th Jan 19, 8:53 PM
    • 1,186 Posts
    • 3,553 Thanks
    crunch_time
    Evening diary,

    Phew what a week! New job has been started - its such a lovely relaxed school compared with where I was used to and the children are lovely. I forgot how much I loved just being with the children and helping them learn and feel sad that the negativity around teaching got me down so much I actually quit. I can't imagine doing it for the next 30 years in its current form but I shall build my career around my love for it.

    There might be an opportunity for more days after Easter so I have been doing lots of calculating around how much money that will actually be after childcare etc and it also made me think long term about what I want from September. DD is going to start school so in theory I could go full time but i want to be there to pick her up from school a few days a week at least and her not to go to club (and for me to work on my other side project etc so perhaps 3 days a week for the next 18 months or so will suit me down to the ground. the difference between full time and 3 days a week per month is about £600 ish so would be worth it and no constant liaising with a job share. I've probably chatted about this loads before but now I feel like I know where I am going in my career and would like to have more of a strategic plan in place. Being at home with my kids in the holidays is one for my priorities right now so it might be teaching for the foreseeable future - till they go to high school - and then I can go forward with my own dreams.

    In other news, the dishwasher has broken and the warranty expired (although I am going to double double check this) so will be using the lovely emergency fund to pay for another one (£400).

    YNAB is going well so far. Husband and I have agreed our next step is to check our budget on the app more regularly than we do.

    We have also been looking at a snowball calculator. With current payments it would take is 6 years to pay it all of - 6 years! Not going to happen we MUST be debt free before 40 (2-3 years).

    We have our big holiday this year and then we shall start hammering the debt down to be debt free by the time husband is 40 at the end of 2020. That's a nice target. If I work 3 days a week from September it will be paid off by then so it is doable so long as we stay focused and STICK TO THE BUDGET! That is the theme this year for sure.

    I have a day off tomorrow without children so am planning to do a big house audit (after finishing some school work) and perhaps dust off my ebay app as I have a whole boot full of carp waiting to be taken to the charity shop and I'm sure I can find some treasures to be sold.

    Crunchy xx
    1/1/2019
    Credit card debt = £18,695/£18,695
    Car Loan = £13,634/£13,634
    Holiday Balance = £5300/£0
    Emergency fund = £2400
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 7th Jan 19, 12:45 PM
    • 38 Posts
    • 122 Thanks
    ohshithowdidthathappen
    Glad the new job is going well and you're enjoying teaching again. I have a couple of friends who have children; one does 5 mornings a week PPA cover so she has no marking and is always there to pick her children up after school.... the other works 3 whole days, so that she has a couple of days a week to do as she chooses.
    The weighing up of 2 vs 3 days is always tricky.... the third day never brings in as much as you hope as the income gets hammered by tax and childcare. Sounds like you have a solid plan though.

    I've looked into teaching myself; I'm currently a radiographer (similar wages after a few years, I think), but the short term pay cut to start at the bottom of a career ladder again would be a bit painful.
    Virgin 0/£11829 0% paid... Tesco 0/£7064 0% paid.... Folks 0/£23000 0% paid.
    Total unsecured debt: 0/£41893 0% paid
    Official DFD 08/22, hoping for 03/21 instead
    • Seasidegal58
    • By Seasidegal58 7th Jan 19, 10:15 PM
    • 2,454 Posts
    • 15,232 Thanks
    Seasidegal58
    Belated New Year to you and your family crunchy!

    Your plans are tip top - all the best for 2019!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- £10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 16/01/2019 - £2,317.94
    MONTHS TO RETIREMENT: 28
    My diary: ďPaid off the £31,0000! BUT- still scrimping!Ē
    • Nicnak
    • By Nicnak 12th Jan 19, 12:15 PM
    • 1,708 Posts
    • 9,785 Thanks
    Nicnak
    Glad the new job is going well and you are liking it. It's such a shame that amazing teachers are having to leave because of this. x
    September 6th 2017 - Updated 21st Oct
    Credit Card £0 now: £0 Tesco Loan £7500 = £0 Consolidation £15,000 = £10,580 Total = £25,330 £10,812 59% gone EMF #252 = £775/£1000
    Sealed pot challenge #024
    Pay off all your debts by Christmas #071
    • crunch_time
    • By crunch_time 13th Jan 19, 10:05 PM
    • 1,186 Posts
    • 3,553 Thanks
    crunch_time
    Evening all

    YNAB was going great until somehow the HSBC credit card for some reason wouldn't match the actual balance. Husband couldn't make head nor tail of it so we have scrapped it and started again with a new budget. Everything is all in budget except for food but we still have lots in stock so will get frugal and hopefully we wont have to raid the emergency fund too much. I think I am too optimistic with food and perhaps extending our budget would be better from £450 to £500 and really properly plan what we buy.

    It's time to talk about the holiday.

    We have booked a big holiday this year in August to somewhere in the Carribean! We are mega excited of course and it is mega expensive but will totally be worth it. The balance left to pay is £5300 by mid-May which is not totally possible. Our aim is to pay it all off before we go so it must be gone before the end of July. We also have to get new passports for the kids and me, hotel for the night before, a couple of excursions, spending money and travel insurance so can add on another £600-£1000 on as well. I'm not too worried about that right now. Paying off the balance is £760 ish a month which is totally doable so long as we are careful with everything else.

    Husband and I have agreed that this is a fantastic challenge for us and we are on it in terms of hitting that target as soon as possible. Getting some more days at work after Easter will go far towards this goal as well.

    Payday should be this coming Friday. I'm going to ring up HR tomorrow to check I'm on the payroll so fingers crossed. If it is that should be the first £500 towards the holiday balance.

    I've just renewed my home insurance and got cashback - it should be at least £75 if not £120. That will be a nice little addition to the holiday pot. When I get paid I shall do the same for travel insurance.

    Hope everyone has a good week!

    Crunchy xx
    1/1/2019
    Credit card debt = £18,695/£18,695
    Car Loan = £13,634/£13,634
    Holiday Balance = £5300/£0
    Emergency fund = £2400
    • crunch_time
    • By crunch_time 15th Jan 19, 10:12 AM
    • 1,186 Posts
    • 3,553 Thanks
    crunch_time
    Morning all

    Signature updated!

    I have included all debt even though some of it is expenses we are STILL WAITING for husbands company to pay him back!

    Also the car loan even though that's not as high a priority right now.

    And the holiday balance which is the main focus at the moment.

    Also current emergency fund totals just so I can see that it is not all bad.

    Crunchy xx
    1/1/2019
    Credit card debt = £18,695/£18,695
    Car Loan = £13,634/£13,634
    Holiday Balance = £5300/£0
    Emergency fund = £2400
    • crunch_time
    • By crunch_time 16th Jan 19, 2:53 PM
    • 1,186 Posts
    • 3,553 Thanks
    crunch_time
    Afternoon all!

    I've been 'on it' the last few days.

    - I made a casserole from stores yesterday and it was lovely!
    - I audited the summer (i know!) clothes from the suitcase on top of the wardrobe so I can start planning what we need NOW rather than panic buy at the last minute after we have stretched ourselves too thin. I have absolutely no summer work clothes so shall need to start thinking for me and the children.
    - We seem to have smashed a few mugs and glasses recently so I bought some new ones today using my nector points - only £1.75 over.

    Ive been emergency taxed on Friday but it should be enough to pay my own credit cards bills for the first time in a year!! Im also getting my hair cut and coloured for the first time in a year on saturday using my own money. Hurrah!!

    Off to do the school run now!

    Crunch xx
    1/1/2019
    Credit card debt = £18,695/£18,695
    Car Loan = £13,634/£13,634
    Holiday Balance = £5300/£0
    Emergency fund = £2400
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