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  • FIRST POST
    • s1n25
    • By s1n25 24th Jul 18, 2:06 PM
    • 35Posts
    • 126Thanks
    s1n25
    Start of a new chapter
    • #1
    • 24th Jul 18, 2:06 PM
    Start of a new chapter 24th Jul 18 at 2:06 PM
    After getting a phone call from my partner telling me he's now -£400 in an unplanned over draft I thought enough is enough!! We have to start doing something about this debt.
    I myself have also managed to run up credit card bills of around £4,000 as well as using all our savings to be able to buy a car.
    We have both always fluctuated in and out of debt. We became debt free in 2015 when we began saving for a house, we managed to save over £20,000 and purchased our first property in Oct 2017. Since then my debt has spiralled out of control, with over spending being the main factor I have also had to purchase items for the house (sofa etc) on my credit cards.
    My partner has also had to buy a new car, he drives 600+ miles a week and needed a more reliable car, this meant taking one out on finance.
    For the past couple of months I've really buried my head in the sand and just wanted to forget about it, but enough is enough! We are planning on getting married and I want to be debt free before we book any where. I'm feeling positive now and looking forward to becoming debt free!! When I say debt free I'm focussing on unsecured debt we have, Mortgage won't be included... one step at a time!


    We both have good jobs and our aim is to be debt free in 12mths.


    So here's my damage:


    Credit card (0% interest) £3,600
    Credit card £206
    Paying back in to saving for car £1,200

    Total debt: £5,006

    Tonight we plan on going through all his debt which I'll be updating later.


    Really hoping that talking about debt and being able to write down what we have been spending/what we have paid off will really help keep motivated. Reading lots of these diaries really inspired me to begin this challenge and made me a lot more positive about the future.
Page 1
    • s1n25
    • By s1n25 26th Jul 18, 11:48 AM
    • 35 Posts
    • 126 Thanks
    s1n25
    • #2
    • 26th Jul 18, 11:48 AM
    • #2
    • 26th Jul 18, 11:48 AM
    Ok, so we've gone through his debt and both wrote down our incoming and outgoings... it's going to be a tight couple of months to get back on track! it will all be worth it.


    In addition to my £5k of my debt we also have


    Car loan £7,163
    Store card £380
    Loan (0% interest) £4,500

    Total debt £12,043

    Total Household debt: £17,043.


    Typing that number makes me feel so sick but got to think positive, we've accepted it and now we're doing thing about it!


    Pay day will be Tuesday, the debt free diary begins!!
    Aug Total Unsecured Debt : £4,600
    Aug bring your lunch to work 6/18
    Aug NSD challenge 8/15
    • Mnd
    • By Mnd 26th Jul 18, 2:05 PM
    • 630 Posts
    • 733 Thanks
    Mnd
    • #3
    • 26th Jul 18, 2:05 PM
    • #3
    • 26th Jul 18, 2:05 PM
    Sort out and post your statement of affairs. The amount of help and advice you get will be amazing
    • lindens
    • By lindens 26th Jul 18, 2:14 PM
    • 2,139 Posts
    • 7,023 Thanks
    lindens
    • #4
    • 26th Jul 18, 2:14 PM
    • #4
    • 26th Jul 18, 2:14 PM
    Also look at the rates on interest on all your debts to help you decide what to pay off first. Use the snowball calculator to help you with this
    You're not your * could have not of * Debt not dept *
    • beanielou
    • By beanielou 26th Jul 18, 9:59 PM
    • 56,147 Posts
    • 226,946 Thanks
    beanielou
    • #5
    • 26th Jul 18, 9:59 PM
    • #5
    • 26th Jul 18, 9:59 PM
    Is your loan really 0% ?
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
    • apple muncher
    • By apple muncher 27th Jul 18, 8:14 AM
    • 7,554 Posts
    • 56,938 Thanks
    apple muncher
    • #6
    • 27th Jul 18, 8:14 AM
    • #6
    • 27th Jul 18, 8:14 AM
    Good luck with it all, s1n25 - see you on the August thread with all the turtles!
    NST August Achiever #16; NSD 6/15; Ex 10/20 ; craft 12 (105); remove 1 (593)
    2018 Pay off: £2382; 2
    018 sell £49.10; WLOSW 1/10

    Mortgage £20,761 (01/14: £78,201; 01/15: £59,629; 01/16: 39,915; 01/17: 27,295; 01/18 23,143) MFWDate Dec 2018
    • s1n25
    • By s1n25 30th Jul 18, 10:03 AM
    • 35 Posts
    • 126 Thanks
    s1n25
    • #7
    • 30th Jul 18, 10:03 AM
    • #7
    • 30th Jul 18, 10:03 AM
    Is your loan really 0% ?
    Originally posted by beanielou

    Yes it's a loan through the company he works for and will be interest free unless he leaves the company. Monthly payments are deducted from his wages before he gets paid
    Aug Total Unsecured Debt : £4,600
    Aug bring your lunch to work 6/18
    Aug NSD challenge 8/15
    • s1n25
    • By s1n25 31st Jul 18, 1:32 PM
    • 35 Posts
    • 126 Thanks
    s1n25
    • #8
    • 31st Jul 18, 1:32 PM
    • #8
    • 31st Jul 18, 1:32 PM
    Feeling as though my life is in order today, crazy what some spreadsheets can do and a lot of budgeting to make you feel like you're in control. Since I've made the decision to do something about our debts I've felt as though I'm in control and not the debt! This forum has helped a lot! there are so many people willing to give advice and help, feel as though I can tackle this debt!!

    I have a number of spreadsheet's on the go, I find this really is really helping me.

    • Track our incoming and outgoing at the start of the month, I can see how much I have to spend so that I don't go in to my overdraft.. or tempted to use the dreaded credit card!!

    • Tracking the debt, I find seeing the debt decrease this month has made me feel really positive and hopefully in a few monthsí time Iíll be able to see what I started with and how much it's reduced by. Hoping this will give me the motivation to keep going!

    • Tracking my food spends! I've gone through my statements and I've found this spreadsheet is needed. I must nip out to the shops and pick up lunch or 'bits' for tea at least 4/5 times a week. Iím hoping this will help me stick to my food budget for the month. My plan is to write a list and plan all my meals for the week. I'm also subscribing to the Ďfrugal living challengeí ĎNSD August challengeí & ĎAugust bring your lunch to workí threads. Iíve been stalking these forums for a while find them great to keep motivated!

    This weekend is going to be tricky not to cave to my old spending habitís when going out with friends, Iíve already had two invites this weekend and couldnít say no.
    My plan for Saturday, BBQ at our friends house, Mr M (The boyfriend) already has beerís in the house heís going to take, no need to spend. Iíve decided Iím going to drive us there and not drink, no extra spending on alcohol and no spending on taxiís!
    Sunday Iíve been asked to go for Sunday lunch and drinks with and old friend Iíve not seen in months. I couldnít say no as I have had to reschedule the past 2 months. Again my plan is to drive us (no taxiís and no drinking) and for lunch Iíll take this cost out of my food budget.

    My goal for this month is to not use my credit card & to end with a least some funds still in my bank! (even itís only £5!)

    Payday today the debts have reduced

    Miss S (my debt)
    Credit card (0% interest) £3,300
    Credit card £200
    Paying back in to saving for car £1,100


    Mr M (boyfriends)
    Car loan £6,905
    Store card £304
    Loan (0% interest) £4,250


    Total Household debt: £16,059
    Reduced by £984 Ė (Canít wait to have that number saving each month rather than paying off debt!!)



    Big food shop & petrol planned for tonight but no further spending now until Sunday.

    Next updateÖ. Did I make it through the weekend with no spending!!
    Aug Total Unsecured Debt : £4,600
    Aug bring your lunch to work 6/18
    Aug NSD challenge 8/15
    • SSDD23
    • By SSDD23 31st Jul 18, 3:38 PM
    • 66 Posts
    • 170 Thanks
    SSDD23
    • #9
    • 31st Jul 18, 3:38 PM
    • #9
    • 31st Jul 18, 3:38 PM
    I like your plans I think I will also try to end the month with a positive balance for the first time in ages

    Looks like you'll be able to have a good weekend without massive spending
    • s1n25
    • By s1n25 31st Jul 18, 4:33 PM
    • 35 Posts
    • 126 Thanks
    s1n25
    I like your plans I think I will also try to end the month with a positive balance for the first time in ages

    Looks like you'll be able to have a good weekend without massive spending
    Originally posted by SSDD23

    Small steps I'm hoping if I can finish on a positive this will be extra towards paying off the debts, which means the debts will be cleared quicker!


    Weekend is going to be a real tester for me, it's ok saying your not going to spend but then in the moment I hope I don't cave and just buy items that aren't needed! Feeling strong though... i.must.not.cave. Can't fall at the first hurdle.
    Aug Total Unsecured Debt : £4,600
    Aug bring your lunch to work 6/18
    Aug NSD challenge 8/15
    • SSDD23
    • By SSDD23 31st Jul 18, 5:04 PM
    • 66 Posts
    • 170 Thanks
    SSDD23
    Can you just take cash so that you can't spend more than you have budgeted for?
    • s1n25
    • By s1n25 1st Aug 18, 10:16 AM
    • 35 Posts
    • 126 Thanks
    s1n25
    Can you just take cash so that you can't spend more than you have budgeted for?
    Originally posted by SSDD23

    Good idea! I NEVER carry cash, always use my card, maybe that's where I'm going wrong? I always panic in case I get stuck somewhere or run out of cash and don't have my card on me. This is probs because I've not budgeted in the past! Need to be better with my money.


    This weekend i'll be leaving all cards at home and only taking the cash out that I have budgeted for. I want to start this month good and not fall at the first hurdle, hoping this will give me the motivation to get through the month with limited spending!
    Aug Total Unsecured Debt : £4,600
    Aug bring your lunch to work 6/18
    Aug NSD challenge 8/15
    • s1n25
    • By s1n25 1st Aug 18, 10:20 AM
    • 35 Posts
    • 126 Thanks
    s1n25
    Did the 'big' shop last night for the week. I said to Mr M whilst walking round, how much I was enjoying looking for the cheapest option. Spent a good 10 mins working out how much chicken to get for our planned meals and which was the cheapest value for money. Budgeted £30 for this weeks shop.. came in at £28.57.
    Aug Total Unsecured Debt : £4,600
    Aug bring your lunch to work 6/18
    Aug NSD challenge 8/15
    • SSDD23
    • By SSDD23 1st Aug 18, 11:39 AM
    • 66 Posts
    • 170 Thanks
    SSDD23
    Well done at coming in under budget

    It's soo easy to overspend just taking your card everywhere, you can kind of ignore the money disappearing whereas you see it going when it's in your purse lol
    • s1n25
    • By s1n25 8th Aug 18, 11:10 AM
    • 35 Posts
    • 126 Thanks
    s1n25
    Ok. So, I didn't listen to the advice
    I went out on Saturday with the best intentions! Drove to our friends house, no alcohol... until... the group decided we'd go for a few drinks in a local bar before coming back for the BBQ. I was easily persuaded and because the bar was within walking distance I didnít have to drive which meant I would only have Ďa few drinksí. Couldnít find a cash point which again meant I had to use my card, spent more money than I would of liked!! £71.78 to be exact. BBQ didnít end up happening and we ended up eating out plus taxi!!!
    Feel very guilty and annoyed at myself!! I had an extra contingence within my budget but didnít want to spend that much of it so soon in the month. Itís done now. Aim is to be better at managing money on a night out!

    I didnít end up going out on Sunday which meant I didnít spend the money I had planned to. (meal was cancelled)

    Although the Saturday wasnít what I had planned I have saved some money since Friday,

    Iím planning on going to see my Friends for the weekend (17th) train ticket was going to cost over £60! Luckily, work have asked me to go to the head office for the week the train ticket is already paid for and is only a 30min journey from my friendís house tickets will be £10 return! Down side of this I will have to pay for expenses whilst Iím away which means using my credit card but will be able to recovery all expenses in September pay. (will add to spread sheet how much to claim back in expenses) Weekend at my friends within budget as well.

    I had Monday and Tuesday off work, spent clearing out all the crap that weíve been hording! Iíve taken the majority of it to the charity shop but I did come across some items which Iíve managed to sell.

    Found some gold sovereigns that were left in the attic from previous owner- sold for £120 (I think I acted in hast with these and could of sold them both for more money but just wanted to get rid)
    Old hair straighteners - £20 (sending to an online site that buys old GHDs)
    X2 old iPhone - £50

    We spent £20 on lunch on Tuesday, treated ourselves, then put £100 away for Xmas. Once I receive the £70 this will be going in to Xmas pot as well.

    Plan for this weekÖ.

    • Family relation is 80 this week, £20 in the card for him. Weíre going out tonight for a birthday meal but he insists on paying for this.
    • Food shop done £23.83 within £30 budget
    • We have enough food for lunch & teas till Saturday. We plan on staying in all weekend! No plans at all which meansÖ no money being spent!! And I intend to stick to it this week!!!!
    Aug Total Unsecured Debt : £4,600
    Aug bring your lunch to work 6/18
    Aug NSD challenge 8/15
    • Purplemumof2
    • By Purplemumof2 8th Aug 18, 11:48 AM
    • 6,292 Posts
    • 23,205 Thanks
    Purplemumof2
    Hi s1n25,

    Thought I'd pop in and say hello

    You're doing really well with your debt busting.

    Pmo2
    xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £6060.00 Cap 1: £170.00 BC: £TBC

    POAMAYC 2018 #041 PD £6919.86/£7000
    Savings for Christmas £273.72/£400
    20p Savers 2018 £2 Savers 2018 50p Savers 2018 SPC 11 2018 #003
    • s1n25
    • By s1n25 9th Aug 18, 10:39 PM
    • 35 Posts
    • 126 Thanks
    s1n25
    Hi s1n25,

    Thought I'd pop in and say hello

    You're doing really well with your debt busting.

    Pmo2
    xx
    Originally posted by Purplemumof2
    Thank you pmo2! Really cheered me up. Having one of those weeks where nothing seems to be going right, getting frustrated with job, house, money! Everything. Thank you for the support xx
    Aug Total Unsecured Debt : £4,600
    Aug bring your lunch to work 6/18
    Aug NSD challenge 8/15
    • Purplemumof2
    • By Purplemumof2 10th Aug 18, 8:17 AM
    • 6,292 Posts
    • 23,205 Thanks
    Purplemumof2
    Having one of those weeks where nothing seems to be going right, getting frustrated with job, house, money! Everything.
    Originally posted by s1n25
    I've had lots of those, you have my sympathies.....onwards and upwards. Have a lovely day x
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £6060.00 Cap 1: £170.00 BC: £TBC

    POAMAYC 2018 #041 PD £6919.86/£7000
    Savings for Christmas £273.72/£400
    20p Savers 2018 £2 Savers 2018 50p Savers 2018 SPC 11 2018 #003
    • s1n25
    • By s1n25 13th Aug 18, 11:27 AM
    • 35 Posts
    • 126 Thanks
    s1n25
    Morning All!! Hope everyone had a fab weekend!

    Last week was a difficult week for me, not so much money wise, just everything else! Wasn't in the best of places, workload got on top of me, house work was pretty much the same, and I was just not in a very good mood.


    Today is another day, and feeling a lot more optimistic about the week ahead.


    I didn't spend too much money last week, all budgeted for apart from the £20 that was a for a relatives birthday (I forgot about). Weekend was much better than the previous week, apart from now that Iím managing my finances a lot better Iím noticing Iím spending a lot of money on food!! (itís within budget but the odd meal here and there really does stack up and could be money saved and paid of my debts quicker) I think for Sept Iím going to have this as one of my objectives, spend less on eating out/food.


    Friday night I was so drained from the week it was pizza (already had in the freezer) and early night. No money spent. Saturday was a similar situation, not sure what the weather was like where you are but itís been terrible up north! Saturday was spent doing house work and watching Netflix (perfect, apart from the housework!) only money spent was some treats for Saturday night, taken out the food budget.


    Sunday my sister was up from London we were going to a gig but I was driving (saving money on taxiís) we ended up having lunch out and catching up. Only £25 spent and this came out the food budget. 3 weeks left of the month I need to be careful with what Iím spending on food now, cannot go over what budget I have left.


    This week Iím away with work, wasnít planned at the start of the month so no budget. Iíll be using my credit card all week but able to claim back what I spend on food in expenses. Downside the expenses wonít be received until Sept pay. No big shop done and no petrol needed this week. Breakfast will be at the hotel, Lunch I have already bought (soup) and tea will be paid from credit card and claimed back.


    Nothing planned then till the weekend! Catch up with my Uni friends which Iím really looking forward to! Itís been too long.

    Enjoy your week guys


    Aug Total Unsecured Debt : £4,600
    Aug bring your lunch to work 6/18
    Aug NSD challenge 8/15
    • s1n25
    • By s1n25 13th Aug 18, 11:37 AM
    • 35 Posts
    • 126 Thanks
    s1n25
    Update:

    Food budget: £150/£99.70 spent
    Petrol budget: £100/£30 spent

    Total debt outstanding for myself - £4,600

    NSD challenge: 8/15
    Bring lunch to work: 6/18

    Saving money:

    Xmas: £100
    Swag bucks: 226
    Selling items: £0

    Iíve recently downloaded the Swag bucks app, still learning how it all works. Frustrating at times when you get so far in to a survey and get told you arenít eligible! My plan is to earn as many points between now and Dec 1st and use what every points I have to buy a gift card that I can use for Xmas presents/Xmas food.
    Anyone have any help or advice on Swag bucks? Or any other similar sites? Iíll be spending some time this week having a read through some of the thread on MSE.
    Aug Total Unsecured Debt : £4,600
    Aug bring your lunch to work 6/18
    Aug NSD challenge 8/15
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