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
    • raldo
    • By raldo 14th Jul 18, 10:54 PM
    • 38Posts
    • 79Thanks
    raldo
    Starting Again... I can be debt free before 50
    • #1
    • 14th Jul 18, 10:54 PM
    Starting Again... I can be debt free before 50 14th Jul 18 at 10:54 PM
    Hi


    I have previously been a member on here before but have re-joined with a new name tonight as I need a complete fresh start.


    A little bit about me... I am married but have recently separated from my husband so things are a bit up in the air at the moment with the house situation thankfully there are no kids involved. I am currently living in the house and can afford things for now but am unsure how things will stand if I try to get a mortgage on my own with my debt its looking highly unlikely. I have arranged an appointment with a financial adviser and a lawyer to find out what my options are. I think that I will be having to put the house on the market but I hope not but if it comes to it then that's what I will need to do. Trying not to worry about it just now tho!


    My debts at today are as follows:


    RBS £3400
    MNBA £10582
    TESCO £5270
    BARCLAYCARD £13599
    CREATION £2000
    HUSBAND £600


    Total Debts outstanding £35451


    I have put everything into the snowball calculator tonight and paying £625 per month my debt free date is 118 months away which is just under 10 years away. I will be 50 in ten years so if I can be debt free by the time Im 50 then I will be happy with this.


    I have got myself into this mess by buying things I didn't need and also through gambling which I really need to stop. I have a really supportive friend who is helping me work through this issue and I know I can stop cause I have done so before and I need to now as I only have my income to rely on to pay the bills and my debts.


    I have enough money coming in to pay the household expenses and debts but nothing left over for food or petrol. I have emptied my savings pot and have £300 in £2 coins which is what im going to use for food and petrol for the next few months.


    I have lots of stuff I don't use and need in the house so I think I need to start having a clearout and try and get some cash coming in.


    I have entered my meter readings for my gas and electricity tonight and managed to bring my bill down by £5 a month so that's a start. I have the full sky package which I know I don't need so I will be phoning them in the morning to see what I can do to reduce my costs.


    Thanks for listening


    Raldo xx







Page 2
    • pidge04
    • By pidge04 4th Aug 18, 10:16 PM
    • 292 Posts
    • 581 Thanks
    pidge04
    Small steps day by day. Chin up, Raldo.
    CC1 £2400/£549 CC2 £3000/£2299 CC3 £600/£448 LOAN £13,000/£5462
    • raldo
    • By raldo 5th Aug 18, 6:03 PM
    • 38 Posts
    • 79 Thanks
    raldo
    Well I made it out of bed today so that was a small victory and I made one of my slimming world meals in my slow cooker. I thought I would get 4 portions out of it but have managed to eek it out so I have 5 which will cover my lunches and dinner for the next 2 days so that's better than expected.
    I've signed up for receipt hog today and scanned 3 receipts I had for the past few days.
    I checked one of my gambling accounts and a bet that I had made a while ago was settled so I managed to withdraw £13 back to one of my credit cards. I still have another another bet outstanding on that account so I cant close the account until that one is settled hopefully in my favour. Once that has been done then I will be closing off that account.
    I've sorted out my budget again and have enough to cover all the bills this month from my wages but no money for food, petrol or any savings. I do have some cash in the house that I can use for petrol and shopping and reckon I will be able to survive on this to the 9th December as long as I spend no more than £20 on food and £20 on petrol a week. So no need to panic just yet... I just need to be extra careful with the pennies I do have and if I can get by on less than £20 on each then I might make it through to the end of December. Some things really need to change but with everything all up in the air about the house and where im going to live I just have no clue what im supposed to do.
    I will need to see what else I have in the house that I can sell but with the way things have been at work im so petrified of going in tomorrow I just don't know what to do... I need to keep my job but the prospect of continuing to work there isn't a good one im not sure am strong enough to deal with everything that is going on at the moment. But like you say pidge04 going to try and take the small steps and hope I can make it through the day.
    Raldo xx
    Total Debts Outstanding @ 14.07.18 £35451
    • EarlyRetirement
    • By EarlyRetirement 5th Aug 18, 6:12 PM
    • 50 Posts
    • 233 Thanks
    EarlyRetirement
    Hi raldo,
    Sorry to read that things are not so good at the moment. You ae doing fantastically well, not gambling when you really need to is an achievement in its self. Well done.
    I understand how hard it is to go into work when there is nasty stuff happening, I hope tomorrow is better for you.
    Sending you hugs (((( ))))
    Barclaycard - £2251.49/£27.09
    • raldo
    • By raldo 5th Aug 18, 10:09 PM
    • 38 Posts
    • 79 Thanks
    raldo
    Thank you for your kind words im going to try and go into work as if everything is ok and put a brave face on! I've set my alarm for mega early an thinking if i can get up early and make an effort with my clothes then I might feel better.

    I did some more sums tonight and I'm thinking I might need to put the savings into my jars on hold as ideally im going to be leaving myself short. I really want to have a month's worth of gas electric and water rates saved for this cottage which ive estimated at £40 a month each so that's £120 I need to find extra this month... I've got 25 days left this month and it works out at just under £5 a day so ideally I want to try and make an extra £10 a day so that I can then put the extra into my jars... I've sold £7 worth of stuff today but won't be getting the money in for a couple of weeks as the person is on holiday so I won't count that until I receive it.
    Just need a goal to focus on.
    Paid another £15 to the tv licence today so only another £14.50 to pay to this and then I can start working on the next thing on my goals for August list
    Better head to sleep now work is going to be a killer tomorrow wish me luck
    Raldo xx
    Total Debts Outstanding @ 14.07.18 £35451
    • doingitanyway
    • By doingitanyway 5th Aug 18, 10:26 PM
    • 3,241 Posts
    • 17,255 Thanks
    doingitanyway
    You are doing so well not to gamble. Don't blow it now just when you are beginning to make progress . Eyes on the prize Raldo
    JANUARY 2016/SECURED DEBT=24,822/March 2018=0 DEBT FREE 23/03/18
    MORTGAGE FREE 25/07/16
    • raldo
    • By raldo 6th Aug 18, 7:44 PM
    • 38 Posts
    • 79 Thanks
    raldo
    Thank you.
    Work was as expected today and it was awful. I ended up leaving at 3pm but went round to a friends for a coffee which was lovely and Im feeling much better tonight.
    I had a no spend day today. I didn't take my lunch into work but I had a voucher for a free soup and roll so used that today so that was good. I put 50p in my debt jar and 50p into the gas jar as I said for every NSD I would take £1 out my purse and put towards my jars.
    Another day of no gambling and no urge to so am saying now that im having a gambling free day although there are still a few hours I will be up its just not worth it!
    I haven't put anything up for sale today and probably wont be so not doing too well on the making an extra £10 a day but I will try harder soon... I need to
    I did win a twitter comp that I entered on here so that's something to look forward to getting although its a pretty rubbish prize its something for nothing that I can always pass on to a friends child... think I should really pay attention to what im entering but I got caught up with entering the competitions again!
    Going to spend the next hour entering some more see if I cant get another win
    Raldo xx
    Total Debts Outstanding @ 14.07.18 £35451
    • pidge04
    • By pidge04 6th Aug 18, 10:26 PM
    • 292 Posts
    • 581 Thanks
    pidge04
    Another day of no gambling ... you are doing really well.
    CC1 £2400/£549 CC2 £3000/£2299 CC3 £600/£448 LOAN £13,000/£5462
    • efes shareholder
    • By efes shareholder 7th Aug 18, 8:34 AM
    • 219 Posts
    • 397 Thanks
    efes shareholder
    Sorry to hear your working environment is rubbish at the moment - I am a firm believer that we go to work to make money not friends and people will happily throw you under the bus for your own gain
    That said , the best response is re focus and put your head down and give everything your best shot - hard when your confidence has taken a knock but is the only way
    • doingitanyway
    • By doingitanyway 7th Aug 18, 8:43 AM
    • 3,241 Posts
    • 17,255 Thanks
    doingitanyway
    I hope today at work is a bit better. It is horrible when work is rubbish. Take care.
    JANUARY 2016/SECURED DEBT=24,822/March 2018=0 DEBT FREE 23/03/18
    MORTGAGE FREE 25/07/16
    • raldo
    • By raldo 7th Aug 18, 7:54 PM
    • 38 Posts
    • 79 Thanks
    raldo
    Evening...
    Well work hasn't got much better at all... but at least I know where I stand with a few things. Im currently on secondment to a higher paid job and it turns out with everything that has gone on over the last few weeks I will be going back to my old job come 1st April which is going to mean a £300 or more drop in wages a month which is going to make things so much worse...
    There is no way Im going to be able to afford to rent anywhere with my current level of debt....

    Well that was my first thought but I need to be more proactive and get this sorted out. Im going to be £300 short every month which means I need to get my act together and come up with a plan of action.

    Things are already tight without this added burden but am hoping that I can come up with a solution and build up a bit of money to keep me going.... I have no idea how im going to manage it or where im going to find the money from but I need to stay positive.

    So I may need to revise my goals and think how im going to manage to do this... If I can manage to make £10 a day for the next 24 days then I can put £120 away for the gas, electric and water for the cottage and then £120 away towards Aprils shortfall.
    Im off work tomorrow so I need to make a start on clearing out the house and getting more stuff ready for selling.
    I am also going to start actively looking for and applying for other jobs see if there is anything else out there.
    Im going to enter some more competitions tonight to keep me busy
    Raldo xx
    Last edited by raldo; 07-08-2018 at 10:16 PM.
    Total Debts Outstanding @ 14.07.18 £35451
    • raldo
    • By raldo 7th Aug 18, 10:43 PM
    • 38 Posts
    • 79 Thanks
    raldo
    Well I didn't get round to doing any competitions I decided to defrost my chest freezer instead! I also cleared it out and did an inventory of everything that was in there... I had to fling quite a lot of it out as there was some chicken breasts that when I moved them they were a bit soft so didn't want to take the chance... that and I have no idea how long they have been in there! I managed to get everything into my fridge freezer drawers so that was good.
    I've done a list of things that I can make out the freezer for dinners and lunches so Im pretty much set for August to be honest there is something I can have out of the freezer every night for dinner (some things will require me to take them out the night before) but worst case scenario and I forget I have enough that I can cook from frozen that it wont be a disaster.
    I've done a quick shopping list and the only things I need to buy are yogurts and cheese for my breakfasts at work and then carrots and sweet potato to make soup so I might go and buy the yogurts and cheese tomorrow and then I've done that and I can get the rest when I actually need them. I might just go to the local fruit shop for the veg (that way there wont be the temptation to buy anything else) as im not a big fruit or veg fan but am just concerned it might be more expensive... will need to have a think about that one. I've portioned up the loaf of bread I had bought as I've hardly used that and put it into the freezer but if I can get through the rest of the month by spending no more than £10 a week on food I will be over the moon... to be honest I think with what I have on my shopping list I will be lucky to spend £20 till the end of the month so my goal is to put aside £10 a week for shopping and anything I don't spend that week will go into my food jar for the cottage... to give me a wee boost that I can use to fill up the freezer when I get in there. There are a few things on my list that are necessities then a few things like diet irn bru that I don't actually need as I have plenty of diluting juice in the house but if I can get a bottle for £1 I might treat myself on pay day.
    Feeling a bit better knowing that im not going to starve this month... and if I can run down the freezer and cupboards it will be one less thing to worry about having to pack.... see am already moving into this cottage... and there is still a chance I wont get it or be able to afford it but no negative thoughts need a can do attitude....
    I wrote a to do list for every room in the house so tomorrow im going to make a dent in some of it so that I don't waste my day off.
    My goals for tomorrow:
    1. Tackle at least one task off of each room list
    2. Look out 5 things for selling
    3. Get out of the house for a walk to get some fresh air
    4. Make chicken noodle soup
    5. Make chicken curry
    6. Do any surveys I get through
    7. Check bank accounts and credit card balances
    8. Make £10 by selling something (what I have no idea am sure I will find something)
    9. Clear out another box from loft
    10. Enter 100 competitions
    That should keep me busy for a while..... alternatively I will sit around in my pjs watching daytime tv and drinking copious amounts of tea and coffee xx
    Total Debts Outstanding @ 14.07.18 £35451
    • raldo
    • By raldo 8th Aug 18, 12:57 PM
    • 38 Posts
    • 79 Thanks
    raldo
    Well so far today I have done 6. Do any surveys I get through 7. Check bank accounts and credit card balances but the majority of my day has been spent sat in my pjs watching daytime tv and drinking tea and coffee! Not going to be able to make my soup or the curry as the chicken I've left out hasn't defrosted fully yet will take it out the fridge and hopefully before tonight it will be defrosted xx
    Total Debts Outstanding @ 14.07.18 £35451
    • raldo
    • By raldo 8th Aug 18, 6:28 PM
    • 38 Posts
    • 79 Thanks
    raldo
    My goals for tomorrow:
    1. Tackle at least one task off of each room list - didn't do one in each room did 7 things in living room and a couple of others.
    2. Look out 5 things for selling - not done
    3. Get out of the house for a walk to get some fresh air - put the bins out... does that count
    4. Make chicken noodle soup - done and it tastes great that's 3 lunches sorted
    5. Make chicken curry - done and got 3 portions left over
    6. Do any surveys I get through - done one
    7. Check bank accounts and credit card balances - done
    8. Make £10 by selling something (what I have no idea am sure I will find something) - not done
    9. Clear out another box from loft - not done
    10. Enter 100 competitions - entered loads today not sure if I've done 100 though will keep going
    Well I didn't do everything on my list .... although am hoping that maybe I can win something that I can sell or the tv that I need for the cottage.
    There is going to be overtime on at work starting tomorrow usually its mornings, nights and weekends but its during the week only this time so my intention is to try and do 2 hours a night for 4 nights a week and an hour 4 mornings which would be 2 hours at basic rate and 8 hours at time and a half... if I can work 10 hours next week that should get me an extra £100 not sure how long the OT will be on for but I will try and do as much as I possibly can to get something to put in my jars... I know works not great just now but im just going to get my head down and get on with it till I can find another job.
    Ive a big meeting at work tomorrow which will let me know what the future holds for me so I at least I will know how long I have left at my current wage.
    Its been another no spend day and no gambling day here today so its all good... must go and clean the kitchen now as ive made a right mess when making my dinner and soup xx
    Total Debts Outstanding @ 14.07.18 £35451
    • raldo
    • By raldo 9th Aug 18, 10:37 PM
    • 38 Posts
    • 79 Thanks
    raldo
    Well I found out today that I will be getting paid my higher wages up until 31st March 2019 so that's good news... there is a higher grade job that's going to be available but with everything that's gone on in work I don't think I have a chance of getting it. I do have a meeting with the service manager tomorrow so am going to discuss what's been happening and how its affected me over the past few weeks, months and year and get it all out in the open. There will be a couple of outcomes from this... he will just laugh it all off... he won't believe me or he will believe me and things might be taken further.... no matter what happens I will at least have told them what has been happening and it will let me know whether or not I can continue to work in there. It might be the insentive I need to start properly looking for an alternative job.
    I stayed on at work for 2 hours overtime tonight so that should be a minimum of £15 after tax that I will get added to Septembers wage. If I work any overtime tomorrow it will be paid at time and a half so ideally want to do another 2 hours if I can get into work early enough possibly 7.30 then I could do an hour and a half before work so that would get me another £15 and mean I would still get to leave work at the normal time as working late on a Friday is not really what anyone wants to be doing! Also depending how the meeting goes I might not feel like staying on late.... but I need to keep thinking of the end goal... the new life and new start in the cottage I've my heart set on.
    Had another no spend day today so that's another 50p to the debt jar and 50p into one of my other jars. I've also make a payment to Barclaycard of £4.58 today.
    I get paid tomorrow so need to pay the minimum payment to Barclaycard, Tesco, MBNA and Creation so am looking forward to seeing my debt figure go down over the weekend once all the payments go through.
    I need to get some petrol at some point so could get it tomorrow or I could wait until next week I have enough to last me over the weekend and probably into beginning of next week... will see how I feel and if I want tomorrow to be a no spend day or a spend on things I really need day. Heading to bed now early start if I want to be in work for 7.30.
    Raldo xx
    Total Debts Outstanding @ 14.07.18 £35451
    • GlendaSugarbean
    • By GlendaSugarbean 10th Aug 18, 8:03 AM
    • 94 Posts
    • 608 Thanks
    GlendaSugarbean
    You're doing so well - good news on the wage security for now and for not gambling. Def good to see what there is out there job wise .
    • efes shareholder
    • By efes shareholder 10th Aug 18, 8:26 AM
    • 219 Posts
    • 397 Thanks
    efes shareholder
    With regards to your housing situation - Are there any other options available to you other then renting ?

    could you rent from a family member and stay with them or go to room mate and become a lodger.
    I know it isn't ideal and its tough when you are used to your own space but you would have one payment and not have the additional expense of council tax and utilities
    • raldo
    • By raldo 11th Aug 18, 2:02 PM
    • 38 Posts
    • 79 Thanks
    raldo
    With regards to your housing situation - Are there any other options available to you other then renting ?

    could you rent from a family member and stay with them or go to room mate and become a lodger.
    I know it isn't ideal and its tough when you are used to your own space but you would have one payment and not have the additional expense of council tax and utilities
    Originally posted by efes shareholder
    My family live in a two bedroom house and there are no rooms available for me or my house full of stuff. There are no flat sharing options for me where I stay.

    I have 2 options one rent the cottage which would be a struggle or rent a pokey flat. I think for my mental health and to enable me to start again I think I want the cottage and if itís a struggle I will just need to struggle and get on with it... I would need to cut back on everything and paying off large chunks of my debt wouldnít be an option but if I found a better job then things could work out. If I went for the pokey flat I know I would be miserable and some things just arenít worth it.

    Iím going for the cottage... itís decided I just need to buck up my ideas and get as much sold and gone to get as much money behind me as possible before I get it ( I have my heart set on it and if I donít get it Iím worried about what Iím going to do... just going to try and focus on Iím getting the cottage end of!!
    Going to get this cupboard under the stairs emptied now need to see if anything I can put on Facebook for sale or look out for the car boot sale next Saturday xx
    Total Debts Outstanding @ 14.07.18 £35451
    • raldo
    • By raldo 11th Aug 18, 5:42 PM
    • 38 Posts
    • 79 Thanks
    raldo
    Cleared out the cupboard and put a few things on the local Facebook selling page and I!!!8217;ve sold one thing already for £10 just need them to come and get it now so I can pop it into a jar... I!!!8217;ve also looked out 2 boxes of tools for the car boot sale next week. The forecast is for rain so hoping that changes xx
    Total Debts Outstanding @ 14.07.18 £35451
    • pidge04
    • By pidge04 12th Aug 18, 9:07 AM
    • 292 Posts
    • 581 Thanks
    pidge04
    Good news about your sales!
    CC1 £2400/£549 CC2 £3000/£2299 CC3 £600/£448 LOAN £13,000/£5462
    • raldo
    • By raldo 12th Aug 18, 10:29 PM
    • 38 Posts
    • 79 Thanks
    raldo
    Well im still waiting on the person collecting and paying for the item I sold yesterday so hoping that they arrange to do that this week!
    I keep changing the focus of what I need to save for... cant seem to keep still thinking about what I need to do and where best to direct the money to. Pay off my debts and bring the totals down or put the money away so that im not left short ... decisions decisions...
    My savings goals from today onwards are now as follows:
    1. Car Insurance £15
    2. Car Repairs £15
    3. Gas £40
    4. Electric £40
    5. Water £40
    6. Emergency Fund £50
    Then once these goals have been met its onto the following:
    1. Road Tax £10
    2. Car Insurance £20
    3. House Insurance £20
    4. Car repairs £25
    5. TV Licence £5
    6. Morrisons £10
    7. Asda £12
    8. Gas £40
    9. Food £20
    10. Petrol £20
    Am hoping that if the weather is ok for next Saturday when I do the car boot sale I might be able to meet quite a few of the top goals list.... I have high hopes... got to aim big!


    I have worked out that if I go back to my old job from April I will be approximately £350 a month short to pay my minimum payments to my debts and household bills so if I can build up an emergency fund of £5000 then I will be able to stay in the cottage for a year without having to panic.
    I decided to break down the £5000 into 100 manageable chunks so I need 100 envelopes with £50 in each of them.... I know I only have 7 months till April but if I can aim small and at least put one away a month then I will be ok for the month of April at least. I will also be trying to find a better paying job before this one ends in March so am not at the panicing stage just yet. I do have some time to try and get as much money behind me as possible.
    I did think about paying the money straight to the debt but it wont make a great deal of difference to my minimum payments so don't want to not be able to make the minimum payments when my wages go down. I am hoping that my payments will reduce as some of the debt will have been repaid before April so it might not be as bad as I think.
    Anyway going to try and sleep now im not looking forward to going into work tomorrow but if I can get in for 7.30 I will be able to do some more overtime (although last time I didn't make it in that early) If I can get in before 8 I can do an hour and then another 2 at night. Im going to aim for a minimum of 5 hours which should get me £45 but if I can ideally do 10 that would be £90 the more I can do without losing my sanity the better!
    Raldo xx
    Total Debts Outstanding @ 14.07.18 £35451
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

144Posts Today

1,625Users online

Martin's Twitter
  • Ta ta... for now. This August, as I try and do every few yrs, I'm lucky enough to be taking a sabbatical. No work,? https://t.co/Xx4R3eLhFG

  • RT @lethalbrignull: @MartinSLewis I've been sitting here for a good while trying to decide my answer to this, feeling grateful for living i?

  • Early days but currently it's exactly 50 50 in liberality v democracy, with younger people more liberal, older more? https://t.co/YwJr4izuIj

  • Follow Martin