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  • FIRST POST
    • Broke Bear
    • By Broke Bear 2nd Sep 18, 4:28 PM
    • 46Posts
    • 221Thanks
    Broke Bear
    Oh pants I messed up BIG!!!
    • #1
    • 2nd Sep 18, 4:28 PM
    Oh pants I messed up BIG!!! 2nd Sep 18 at 4:28 PM
    Ok so I have been lurking in a major way for the last 2 weeks after having my lightbulb moment. I have had a pretty rough 2 months and lost both of my bears (labradors) in quick succession (they were both very old for labs) and then I had a minor breakdown over everything and my finances came bubbling out to my OH after the vet bills.

    Now It has sunk in that everything is out in the open and he has not run away, for which I am eternally grateful, I can put a plan in action to get the big scary number gone for good.
    Ok so here are the starting scores on the doors as of 01/09/2018:

    B - 10,531.80
    T - 6,776.15
    M - 6,422.11
    V - 5,462.32
    L - 25.89

    Total - 29,218.27

    How did I get that far in debt?? I honestly didn't think it was that bad until I put all cards on table (literally) with OH!

    We have gone through income and expenditure and have a plan of action for the next 12 months or so (0% BTdeals the above cards are on) but I thought it would be good to document my journey as a reminder for future debt free me. It is my mess and I will not let my OH pay towards the debt, not even one penny. It is my stupidity and I should feel every painful penny of paying it back, I will never be this far in debt again!!
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    Now: Nov 1st 2018 - CC debt - 28,693.97 - 1.79% paid off

    If thou of fortune be bereft, and of thine earthly store hath left,Two loaves, Sell one and with the dole, buy hyacinths to feed the soul. 'Anon'
Page 2
    • Scott-Weiland
    • By Scott-Weiland 10th Sep 18, 2:56 AM
    • 290 Posts
    • 627 Thanks
    Scott-Weiland
    Good luck on your journey

    One question have you done a full Soa? You could post it here so we could tweak it slightly maybe.
    Cashback Earnings Ish YTD 74.56 Survey Earnings YTD Ish 489.34
    "We are what we repeatedly do. Excellence then, is not an act, but a habit."
    Qmee 16.15 Since 3/11/2018
    • Broke Bear
    • By Broke Bear 10th Sep 18, 7:25 AM
    • 46 Posts
    • 221 Thanks
    Broke Bear
    I haven’t done one yet, or rather not one I’m happy with yet for posting. Once I have a month or two of actual figures for where my money goes i will post one up for tweaking. The scales really did fall from my eyes and it will take a little time to get a full and accurate picture of what I need to survive this journey.
    The only bit of my outgoings I am sure of the exact figures for is the debt and how much I have ringfenced to get it gone!!

    SOA will hopefully be available soon thanks Scott
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    Now: Nov 1st 2018 - CC debt - 28,693.97 - 1.79% paid off

    If thou of fortune be bereft, and of thine earthly store hath left,Two loaves, Sell one and with the dole, buy hyacinths to feed the soul. 'Anon'
    • Scott-Weiland
    • By Scott-Weiland 10th Sep 18, 12:21 PM
    • 290 Posts
    • 627 Thanks
    Scott-Weiland
    If you do not want to post it here it is fine my only advice would be too be honest with yourself once you have put it together.

    I have put a few examples below all of these can help boost disposable income and those little tweaks will get rid of your debts quicker. I see a few mistakes people make the first is overspending on non essentials/the next is over spending on utilities. Having a 90 pound sky tv package is fine if you can afford it as an example.


    Do you need the latest smartphone, could a sim only contract be an option when its mobile phone renewal time.

    Next join Topcashback and anything you buy online see if the website is on there. I have being on there a year or two and i have clicked nearly 700quid. Just eat/ebay/gocompare/waterstones etc etc are all on there.

    Next relates to above re all your insurances/utilities/mobile phones/etc have a look at gocompare via top cashback. I recently switched in the last 6 months a friends car insurance and broadband and i clicked about 80quid in cashback.

    Also do you really need that 30quid pet insurance policy surely just saving the 30quid would be a safer option.

    look at things like sky/or virgin media etc and see if you could get better deals elsewhere eg nowtv or netflix i saw another poster recently binned sky's tv package and save themselves 35 pounds a month. Even if your under contract ring them up say your in a bit of financial difficulty you dont have to give them the details and ask if they can do you a better deal. I did this recently with EE and go 7.50 off my mobile phone bill for the last 6 months of my mobile phone contract

    is there an option to declutter ie ebay, ziffit.com, webuybooks.co.uk, music magpie,mazuma mobile etc etc etc

    Also research too see if you could save funds with petrol or diesel by using a nectar card or a tesco clubcard.

    finally check out doing online market research surveys there is pages on the forum. (see my signature)
    Last edited by Scott-Weiland; 10-09-2018 at 12:31 PM.
    Cashback Earnings Ish YTD 74.56 Survey Earnings YTD Ish 489.34
    "We are what we repeatedly do. Excellence then, is not an act, but a habit."
    Qmee 16.15 Since 3/11/2018
    • Thistlewhistle
    • By Thistlewhistle 10th Sep 18, 12:49 PM
    • 1,084 Posts
    • 7,427 Thanks
    Thistlewhistle
    Happy new diary BB,


    You asked about the order in which to tackle things....


    The snowball way is fantastic as it tackles the highest interest bearing debts first but depending on how your brain works, sorting out the little balances can be a good approach too as it makes you feel like you're moving forward more quickly, even though in the long run it may cost you more money. It can help you free up a credit card too so that you might be able to take advantage of switching an interest-bearing debt onto that freed-up card at a 0% or lower % interest. Bear in mind that there will most likely be a fee for this (usually about 3% of the debt transferred) - you'll need to do the sums to see if it's worth doing.


    I managed to get all my CC debts onto 0% by doing this and it's definitely saved me a fortune in interest and I now know that ALL my payments are clearing the debt and not paying interest.


    I now only have one CC debt (albeit a large one) but it is all at 0% until June 2020. The goal setting aspect of YNAB is a great help in assisting me to sort all this out by that date and I'm on track to achieve it too.



    Good luck!!


    Thistle
    Last edited by Thistlewhistle; 10-09-2018 at 12:51 PM.
    Mortgage at end 05/2007: 90200
    Mortgage at end 08/2018: 71646 paid 18354 (20.5%)
    MFD: Original:05/2042
    Car Finance: 8225 : 6392 (22.2% paid off)
    CC Debt (0% until 06/2020): 5640 : 4400 (21.7% paid off)

    Age of Money at 31/08/2018 = 23 days

    YNAB is changing the way I live my life....and spend my money!!
    • enthusiasticsaver
    • By enthusiasticsaver 10th Sep 18, 8:00 PM
    • 7,282 Posts
    • 15,966 Thanks
    enthusiasticsaver
    I think you should tackle the highest charging debt first. The BC 2163.47 at 17.68%. Once that is gone tackle the shortest deal which is T at 1069.


    Don't ignore savings for emergencies so you are not tempted to use the cards again.
    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
    • LullaBelle
    • By LullaBelle 11th Sep 18, 4:40 PM
    • 158 Posts
    • 163 Thanks
    LullaBelle
    Happy new diary!


    My debt is a similar amount to yours. It is slowly coming down but the main thing is that it is coming down and I am not getting into any more debt. I'm hoping to be debt free in about 4 years. Fingers crossed. Good luck with the debt busting!
    Virgin 4892.50/ 4580
    Loan 16587.87/15219.75
    Sofa 1100 / 754.56 DH Virgin 6550 /5793.20
    Barclaycard 5411.41/0
    DH Halifax 413.77 /0 Overdraft 450/0
    Total 35405.55/ 26347.51
    • Broke Bear
    • By Broke Bear 14th Sep 18, 8:40 PM
    • 46 Posts
    • 221 Thanks
    Broke Bear
    Thanks everyone for taking the time to read my little journey, I will be glad of the company as it will be a marathon to get this gone not a sprint.

    OK so the scores on the doors are in for my first month paying down my debt, all new statements in and accounted for:

    BC-10,385.85
    M- 6,346.98
    T- 6,676.15
    V- 5,296.32
    L- 0

    28,705.30
    1.75% paid off
    76% utilisation

    I just need to make it to the end of September on the pennies left in my account and I will have completed my first full MSE month.... It is going to be tight but doable (not that I have a choice!!)

    I will update my signature at the end of each month I think as that will be the final month figures with any left over budget accounted for...left over budget... wishful thinking but even a penny left over is a penny off the BSN.

    Not doing so good at the NSD's, still on 6/20 it is possible I may have to revise this or do I still leave the target at 20 and look to do better next month? I guess it didn't help that I was away for work this week so spending was unavoidable but I will get that back on expenses with a little extra to go towards the BSN hopefully.
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    Now: Nov 1st 2018 - CC debt - 28,693.97 - 1.79% paid off

    If thou of fortune be bereft, and of thine earthly store hath left,Two loaves, Sell one and with the dole, buy hyacinths to feed the soul. 'Anon'
    • Broke Bear
    • By Broke Bear 17th Sep 18, 9:10 PM
    • 46 Posts
    • 221 Thanks
    Broke Bear
    Well that is another 2 NSD's to add- now on 8/20. Had a very wobbly weekend with the tears etc, just don't seem to be able to stop crying when I think of my bears. I miss them soooo much and I keep thinking of what my older one got me through. I literally would not be here if it wasn't for her. I know it will get better but it seems like I have a very long road ahead of me, can't quite see the light at the end of the tunnel yet but will keep moving forward and hope it has not been switched off due to cutbacks!

    On the upside it looks as though when I am sad I cook... the freezer is now very well stocked with home made meals and I have the ingredients to make more just not the room in the freezer! Meals list made so far:
    12 soups - 3 different varieties
    4 lasagnes
    4 sausage casseroles
    4 cottage pies
    Sausage pie - 8 individual portions
    Apple pie

    All made in one day! We are still within the food budget for the month and have almost enough meals to last
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    Now: Nov 1st 2018 - CC debt - 28,693.97 - 1.79% paid off

    If thou of fortune be bereft, and of thine earthly store hath left,Two loaves, Sell one and with the dole, buy hyacinths to feed the soul. 'Anon'
    • Broke Bear
    • By Broke Bear 18th Sep 18, 9:15 PM
    • 46 Posts
    • 221 Thanks
    Broke Bear
    Somewhat more positive today, almost another NSD but i did give in to the tuck box in work ... a bag of crisps and a tube of smarties for the grand sum of 80p
    I thoroughly enjoyed them!!

    Came home and did cottage pie and veg out of the freezer for me and OH. I am loving this having easy dinners, must do this batch cooking again and expand the freezable repertoire.

    Sooo looking forward to updating my signature at the end of the month with the new figures though I feel a bit daft making myself wait until then but a lot can happen in 2 weeks and it will help to keep me focussed as I want to post the good progress seen when the statements came in. I think I have been bitten by the dfw bug!! ��
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    Now: Nov 1st 2018 - CC debt - 28,693.97 - 1.79% paid off

    If thou of fortune be bereft, and of thine earthly store hath left,Two loaves, Sell one and with the dole, buy hyacinths to feed the soul. 'Anon'
    • Broke Bear
    • By Broke Bear 21st Sep 18, 1:08 PM
    • 46 Posts
    • 221 Thanks
    Broke Bear
    Happy Friday everyone... roll on 5pm so I can escape the corporate treadmill for 2 whole days off!!!

    DSD is up this weekend and am hoping to get her helping with some wallpaper stripping in the kitchen. We were going to head out and climb a mountain but the weather is pants for the weekend so inside jobs it will be! The whole house needs doing up but I’m going to get the kitchen looking better (the current sicky yellow colour makes it look really dirty). We can’t afford to replace the kitchen yet but if I can spruce it up with a lick of paint it will last until we save up. Current major project is the bathroom and this should hopefully be getting replaced in October, nice builder man due to pop round and finalise details in next week or so and fix a date....we will then have a fully functional bathroom Whoop Whoop

    On the pennies front, 1 week till payday but as YNAB is my friend it doesn’t count until the 1st of October. Budgets seem to be lasting and a little boost should be coming in on Tuesday as my expenses for the work trip last week should be paid in. Fingers crossed there will be a little left over for a small payment off the BSN
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    Now: Nov 1st 2018 - CC debt - 28,693.97 - 1.79% paid off

    If thou of fortune be bereft, and of thine earthly store hath left,Two loaves, Sell one and with the dole, buy hyacinths to feed the soul. 'Anon'
    • Broke Bear
    • By Broke Bear 21st Sep 18, 9:01 PM
    • 46 Posts
    • 221 Thanks
    Broke Bear
    Well the weekend has started, OH is on the long journey to collect DSD and I am doing some diary reading on here

    No NSD for me today as had to pick up a few bits and pieces and of course a couple of berry ciders from Ald! for while I am sat here on my todd.

    Looking forward to a good day of decorating tomorrow...I will get at least one room done and make the house look passable or at least close enough to passable that a blind man on a galloping horse wouldn't notice it needs so much work!!
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    Now: Nov 1st 2018 - CC debt - 28,693.97 - 1.79% paid off

    If thou of fortune be bereft, and of thine earthly store hath left,Two loaves, Sell one and with the dole, buy hyacinths to feed the soul. 'Anon'
    • Broke Bear
    • By Broke Bear 22nd Sep 18, 10:24 AM
    • 46 Posts
    • 221 Thanks
    Broke Bear
    Well that was a lovely start to the weekend, OH brought me a cup of coffee in bed as I had a lovely lie in until about 8.30 OH is currently making breakfast of home grown tomatoes on toast - my current favourite as I grew them for the first time this year

    Well one load of washing is already in and after breakfast it is on with the decorating. DSD is making dinner tonight as she has decided she likes cooking - macaroni cheese it is then

    hoping for an NSD for me today...fingers crossed
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    Now: Nov 1st 2018 - CC debt - 28,693.97 - 1.79% paid off

    If thou of fortune be bereft, and of thine earthly store hath left,Two loaves, Sell one and with the dole, buy hyacinths to feed the soul. 'Anon'
    • SeasideGirl
    • By SeasideGirl 22nd Sep 18, 12:31 PM
    • 27 Posts
    • 132 Thanks
    SeasideGirl
    Afternoon, came for read of your thread - I'm so sorry about your labradors
    I am pet-free for the first time in years (had to have my rescue cat PTS last November) and there is a bit of a hole in my life. Because I am on a fixed-term contract where I'm currently working, there's a chance I may need to work away from home either early or mid next year if there isn't another contract where I am, so I can't get another cat (or two) at the moment.
    Exciting times with the bathroom - mine is next on the list but likely to be around March time.

    Lovely start to your day, hope the decorating goes smoothly!

    (PS subscribed to your thread)
    • Broke Bear
    • By Broke Bear 22nd Sep 18, 2:46 PM
    • 46 Posts
    • 221 Thanks
    Broke Bear
    Hi Seaside Girl, thanks for popping in

    Decorating is coming on ok, almost got the wall stripped back, another hour or so and I will be able to break out the polyfill@ and start patching up and sanding down ready for painting tomorrow.

    The house is sooo quiet without the bears but as my job is so far from home now (company re-located us so instead of 15 mins I now have to travel a 1-1.5 hours each way due to traffic) I cannot justify getting another just yet, though I am considering a rescue moggie in the not too distant future. I will for now though concentrate on getting a job closer to home and cut down the commute, I miss having my furries waiting to greet me but slowly getting there!

    Oh well, tea break is nearly over, time to get back to the stripping of the wallpaper.

    x
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    Now: Nov 1st 2018 - CC debt - 28,693.97 - 1.79% paid off

    If thou of fortune be bereft, and of thine earthly store hath left,Two loaves, Sell one and with the dole, buy hyacinths to feed the soul. 'Anon'
    • Broke Bear
    • By Broke Bear 26th Sep 18, 6:08 PM
    • 46 Posts
    • 221 Thanks
    Broke Bear
    Well I managed to get the wall stripped and 1 coat of paint done (will need another 2 coats, possibly get one of these done tomorrow).

    Coming up to the end of the month and I am looking forward to updating my signature on Sunday with my first month's figures. I have already started planning for next month using YNAB and balancing the books, just need to know my actual pay figure which I will find out tomorrow and see if my projections are on target.

    In other news, it has been over a month and the house is far too quiet without the bears, have talked through with OH and getting a pup is not an option at the moment but....we are now officially looking for a kitten
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    Now: Nov 1st 2018 - CC debt - 28,693.97 - 1.79% paid off

    If thou of fortune be bereft, and of thine earthly store hath left,Two loaves, Sell one and with the dole, buy hyacinths to feed the soul. 'Anon'
    • Broke Bear
    • By Broke Bear 30th Sep 18, 7:37 PM
    • 46 Posts
    • 221 Thanks
    Broke Bear
    Well first month end and the scores on the doors are updated for my signature. Not too bad with the limited means, this is definitely going to be a long haul.

    BC-10,385.85
    M- 6,346.98
    T- 6,676.15
    V- 5,296.32
    L- 0

    28,705.30
    1.75% paid off


    On the positive side, I have not used any of the cards all month and although the bank balance has taken a slight beating, I have reached the end of the month without hitting the bottom of the overdraft (its only 250 max and I am using YNAB to bring this down) so all in all a positive start.

    Going forward to month 2 DFW campaign, things will be very tight as it is the darling OH's birthday and its a special number so no escaping on that one, although we have agreed no presents due to the current financial situation there is still a meal out and i still feel there should be a card and a little something to open for my gorgeous on his 'happy getting old day'!!
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    Now: Nov 1st 2018 - CC debt - 28,693.97 - 1.79% paid off

    If thou of fortune be bereft, and of thine earthly store hath left,Two loaves, Sell one and with the dole, buy hyacinths to feed the soul. 'Anon'
    • Broke Bear
    • By Broke Bear 4th Oct 18, 10:05 AM
    • 46 Posts
    • 221 Thanks
    Broke Bear
    Well so far this month is not going as planned! It has been rather spendy to say the least! I have had to put 1 item of 100 onto the BC and many of my ynab categories are looking very slimline for getting to the end of the month unscathed. It has not helped that both OH and I have been struck with this awful cold that is doing the rounds and have just wanted to eat, comfort eat and then eat some more....there may have been takeaways too. Bad Broke Bear!!!

    Well there will need to be many NSD's this month to make it work but will do my best. Now off back to bed to hibernate until this cold clears off!!
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    Now: Nov 1st 2018 - CC debt - 28,693.97 - 1.79% paid off

    If thou of fortune be bereft, and of thine earthly store hath left,Two loaves, Sell one and with the dole, buy hyacinths to feed the soul. 'Anon'
    • Siebrie
    • By Siebrie 4th Oct 18, 11:31 AM
    • 1,245 Posts
    • 19,982 Thanks
    Siebrie
    I have a similar cold, but was able to work from home; I hope you get well soon.


    Your overdraft is not in your list of debts; maybe you should add it, as it is usually a high-interest loan.


    Do you have any animals at home? If not, have you already completely cancelled your pet insurance?


    Do you have any idea what type of kitten you are looking for? A special race, or just any cute kitten? There are huge price differences, and to be honest, I don't think you can afford a 'brand' kitten just now.
    Wombling to wealth 2018 801,77= 691.62
    Still a womble 2017 #25 7116,68= 6309.50
    Wombling Free 2016 #2 3.483,31= 2,969.05
    • Broke Bear
    • By Broke Bear 4th Oct 18, 11:52 AM
    • 46 Posts
    • 221 Thanks
    Broke Bear
    Hi Siebrie, yes the dogs insurance was completely cancelled and the only other pet we had was a corn snake who is not insured.

    Our wee kitten has arrived, she is a generic tabby 9 weeks old and is already ruling the roost!
    4 weeks free pet plan insurance then we will take out a full version.

    The overdraft is interest free and is being brought down each month using ynab. It is less than 200 and gets paid in full each month with my wages but obviously gets used again (less so each time) as I allocate a small amount to it so I will clear it. I think next month I will have enough in my ynab pots to not go into the overdraft but if I need to use the pots then I would be back in it so I will keep 'paying it down' as per ynab separately to my other pots and hopefully will not need to dip in to pots until cleared fully IYKWIM.
    Day 1: Sept 1st 2018 - CC debt - 29,218.27 - 0% paid off
    Now: Nov 1st 2018 - CC debt - 28,693.97 - 1.79% paid off

    If thou of fortune be bereft, and of thine earthly store hath left,Two loaves, Sell one and with the dole, buy hyacinths to feed the soul. 'Anon'
    • digitpedia
    • By digitpedia 4th Oct 18, 12:03 PM
    • 8 Posts
    • 264 Thanks
    digitpedia
    I have just put all my figures in there and the calculator says I can clear this in 57 months which is just under 5 years, I think if I can do it in under 6 allowing for the unexpected I will be a very happy bear!!
    Originally posted by Broke Bear
    That would be an amazing achievement, good luck, it looks like you're going about it in the right way so there's no reason you can't achieve it
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