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  • FIRST POST
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 20th Dec 18, 10:56 PM
    • 71Posts
    • 240Thanks
    ohshithowdidthathappen
    *sigh* this may take a while
    • #1
    • 20th Dec 18, 10:56 PM
    *sigh* this may take a while 20th Dec 18 at 10:56 PM
    HI

    I've been using this site for years, although I haven't posted for a while and my account seems to have been lost! However, I've decided to accept that as a clean slate :-)

    I'll post an accurate SOA over the next few days... but the short version is my husband and I have a nice income between us (about 100K) but we have 5 children and a big house to run and we're not good at saving before we spend. We've just done a massive extension on our house and find ourselves in a large amount of debt circa 45000. We can service this debt, but we'd like it gone asap.

    I'm hoping by doing a diary, it'll keep me focussed
Page 2
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 2nd Jan 19, 4:39 PM
    • 71 Posts
    • 240 Thanks
    ohshithowdidthathappen
    Not a great start to the year, I managed to dislocate my kneecap yesterday, ouch. So I won't be doing the exercise part of my targets for a couple of weeks!

    On the plus side, I've had two NSD in a row and I haven't eaten much as I've been in quite a lot of pain. Small silver linings! Luckily, my husband had already taken this week off as annual leave. The hospital has signed me off work for 2 weeks for recovery, in a very lazy way I'm quite pleased, especially as I get a week's annual leave back because of it

    The children are all back to school/ preschool tomorrow which they're not looking forward to. It's been a lovely break (except for my knee!), so I'm quite sad it's over
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 3rd Jan 19, 10:01 AM
    • 71 Posts
    • 240 Thanks
    ohshithowdidthathappen
    I'm going to work out a DFD with snowballing later, I'm a bit nervous as to what it'll come out as!
    Will do myself a signature too and then update it on the first of every month.
    It is going to be a slow few days resting my knee, so I'm going to do my tax return for self employed job. I haven't put anything aside to pay the tax, so I'm hoping the figure isn't too high
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 3rd Jan 19, 10:38 AM
    • 71 Posts
    • 240 Thanks
    ohshithowdidthathappen
    Well, snowball comes out at August 2022, which isn't too awful. However, I'm hoping to shave quite a lot off that and it should be doable by March 2021. I hope this because:

    1) I'd hope to be able to move the Virgin debt to another 0% card In September, thus not paying the predicted 728 in interest
    2) I only put 400 extra above minimum payments into the calculator (so 1000 in total a month). I'm hoping we can do more than that, I'll know more after the 3 months spending diary I've got planned.
    3) My husband gets a bonus every March, these aren't guaranteed, so I haven't included them. But anything he does get will go to paying down debt.
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 3rd Jan 19, 10:51 AM
    • 71 Posts
    • 240 Thanks
    ohshithowdidthathappen
    Signature done too
    Virgin 238/11829 2% paid... Tesco 141/7064 2% paid.... John Lewis 3000/3000 100% paid Next 500/500 100% paid Folks 550/23000 23% paid.
    Total unsecured debt: 9173/45393 20% paid. Current total debt is 36220
    Start date 01/01/19 Official DFD 08/22, hoping for 03/21 instead
    • natsplatnat
    • By natsplatnat 3rd Jan 19, 11:19 AM
    • 2,947 Posts
    • 2,704 Thanks
    natsplatnat
    Hi!


    It looks like you have set yourself a little challenge... reducing your snowball DFD by 17 months! As you settle into reducing your expenditure and repurposing your money, keep tweaking your snowball.. it will be amazing how that date keeps getting closer and closer!
    Wish you all the best on your journey - You sound determined (and you have a plan.... I love a plan!)
    LBM ,- Wed 19th Nov 2008 21,225 PAID OFF
    *DEBT FREE 28th September 2015*


    • ohshithowdidthathappen
    • By ohshithowdidthathappen 5th Jan 19, 9:25 AM
    • 71 Posts
    • 240 Thanks
    ohshithowdidthathappen
    Very uneventful few days due to resting my knee.... I’ve been thinking a lot about work. One of the first things I thought when I heard I was being signed off for several weeks with my knee was ‘Thank God’.
    I HATE my job, but having retrained and then working my way up the ladder for 15 years alongside having 5 children, I’m at a loss what to do instead.
    If I worked full time, I’d earn 40k, which is decent. But due to childcare costs (and the fact I hate it) I work 15 hours a week in the role. After deductions and childcare, I ‘keep’ 700 a month. There must be other ways I could earn that.
    I’ll be using the next few weeks off to try and come up with a plan; I already work Saturdays elsewhere, so would need to be weekdays and would need to be the same sort of wage or something I could do around the children so I could earn less as no childcare costs. Hmmm, definitely a quandary....
    Virgin 238/11829 2% paid... Tesco 141/7064 2% paid.... John Lewis 3000/3000 100% paid Next 500/500 100% paid Folks 550/23000 23% paid.
    Total unsecured debt: 9173/45393 20% paid. Current total debt is 36220
    Start date 01/01/19 Official DFD 08/22, hoping for 03/21 instead
    • mark88man
    • By mark88man 5th Jan 19, 10:12 AM
    • 3,793 Posts
    • 8,692 Thanks
    mark88man
    always a good plan to have a portfolio of incomes (although not the path I travelled), but don't throw the baby out with the bathwater. childcare costs will go down and once they are all at secondary school they will become less of a constraint (in that they will want to be in their rooms or with friends, but will still expect lifts and feeding, but not actual supervision) - so at that point your 15 hours will become much more cash generative and the money can be snowballed. Also imagine finding you were in a lower paid job to look after the kids and they didn't need looking after but did need more money (secondary school trips cost! even if you avoid the big overseas vanity projects

    In terms of hating your job - is it just the managers, or the patients or the whole political football the NHS has become. Or is it just feeling trapped and tired of doing anything (in which cases other jobs wouldn't really help). Is there a sideways move you can take - or less managing/more specialist or maybe even less specialist/miore managing. Generally people in that skilled worker category are very wanted even if that is not shown on a day to day basis and management should make steps to chnage things for you. There is a big trend in compliance and process at the moment could you become an assurer or an auditor rather than a doer.

    All the above a little constrained by the fact I don't know what you do in the slightest but I do know organisations and I do know that 15 year challenge (and was living it to some extent for years),but then it got really good again - sometimes perservernce and persistance are the best attributes

    finally - I often work on multiple projects and there is a definite difference in working 3 days a week and 2 days a week in terms of inclusivity - ie at 3 days its often not noticed that you are gone for 2 days and so you are much more part of the team, whereas at 2 days its as if you are never there - so ironically could the solution be that you should do more hours not less or maybe take an extra shift when child care isnt an issue - that would be pure gravy!!
    Last edited by mark88man; 05-01-2019 at 10:15 AM. Reason: typos
    Things happen for a reason. Often the reason is we are stupid & make bad decisions.
    Weight/Health - Fluctuating - better than I was worse than I should be
    End 18: CC:8K@0% - Car Loan:11K@2.8% - Mort:133K@2.1% = 152K
    Decrease in Total Debt 2016:13.4K 2017:8.3K 2018:20K

    • ohshithowdidthathappen
    • By ohshithowdidthathappen 5th Jan 19, 5:33 PM
    • 71 Posts
    • 240 Thanks
    ohshithowdidthathappen
    Thanks Mark, really insightful comments.

    I’m a band 6 Radiographer working in a specialised modality (I better not put what exactly on here as would potentially be identifying in RL!), then because I work in Surrey, I get a high cost living allowance on top.
    I like the majority of patients and we don’t really have a direct manager... but it’s very monotonous and staffing is appalling (we’re working with 50% vacancies at the moment). In the 7 years I’ve been there, my daily patient caseload has increased by 25% and it’s pretty exhausting.
    A lot of radiography roles entail shift work so that traps me in my current role really. I should definitely look at alternative uses of my qualifications though rather than automatically accepting looking into lower paid roles.
    The thought of doing a third day in my current role is really not at all appealing, but I definitely agree that 2 days is ‘too’ part time to really be part of the team.
    Last edited by ohshithowdidthathappen; 07-01-2019 at 11:48 AM. Reason: less job detail as could be identifying
    Virgin 238/11829 2% paid... Tesco 141/7064 2% paid.... John Lewis 3000/3000 100% paid Next 500/500 100% paid Folks 550/23000 23% paid.
    Total unsecured debt: 9173/45393 20% paid. Current total debt is 36220
    Start date 01/01/19 Official DFD 08/22, hoping for 03/21 instead
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 7th Jan 19, 11:58 AM
    • 71 Posts
    • 240 Thanks
    ohshithowdidthathappen
    First week of sticking to my new targets hasn't gone brilliantly...

    Financially.....
    - my credit card bill came.... this is the card that I put food, petrol etc on and then clearin full every month. It builds up good rewards too. However, last month we put all our Christmas expenditure on it an extra 2k to find. However, I think I can put 1k in it from January and Februarys pay packs. I that's the case, I can put March's 1k into paying the actual debt I'm supposed to be repaying and still meet target one.
    - I am keeping a spending diary and so far, there hasn't been anything that isn't in my budget
    - as I'm signed off work, I'm eating at home anyway.

    Health
    - I did 2 AFN this last week, which was ok
    - the exercise targets will have to wait, because of my knee
    - I did lose 1lb this week, a pleasant surprise considering I've been pigging out and sat on my !!!!

    Must try harder in this coming week!
    Last edited by ohshithowdidthathappen; 07-01-2019 at 11:59 AM. Reason: typo
    Virgin 238/11829 2% paid... Tesco 141/7064 2% paid.... John Lewis 3000/3000 100% paid Next 500/500 100% paid Folks 550/23000 23% paid.
    Total unsecured debt: 9173/45393 20% paid. Current total debt is 36220
    Start date 01/01/19 Official DFD 08/22, hoping for 03/21 instead
    • mark88man
    • By mark88man 7th Jan 19, 12:38 PM
    • 3,793 Posts
    • 8,692 Thanks
    mark88man
    Don't beat yourself up - if we were perfect we wouldn't be here. In any case, I've seen worse January reports - losing weight over xmas is spectacular!!
    Things happen for a reason. Often the reason is we are stupid & make bad decisions.
    Weight/Health - Fluctuating - better than I was worse than I should be
    End 18: CC:8K@0% - Car Loan:11K@2.8% - Mort:133K@2.1% = 152K
    Decrease in Total Debt 2016:13.4K 2017:8.3K 2018:20K

    • 24ta
    • By 24ta 7th Jan 19, 2:20 PM
    • 36 Posts
    • 326 Thanks
    24ta
    Subscribed!! Debt is debt whether you owe 500 or 50,000 or whether you earn 1000 a month or 5000 plus a month. It's all relative.

    Good luck with your debt busting!

    Crunchy xx
    Originally posted by crunch_time


    Agreed, good luck, subscribed
    So many unachieved goals, I have to make this year my year!
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 9th Jan 19, 9:46 PM
    • 71 Posts
    • 240 Thanks
    ohshithowdidthathappen
    My OH and I have been doing really well; thinking before we buy, eating what we have in the house rather than buying etc... the little extras come from the children, it's like a bottomless pit! This week's examples... daughter lost a trainer (how?), new ones required, 2 Birthday parties this weekend, a scout camp deposit and 2 forgotten lunchboxes requiring 2 paid lunches. That little lot totals 75 :-(
    On the other hand, my knee is feeling better and the swelling is going down, our 10 year old car passed it's MOT and I managed a good renewal on our car insurance (hasn't gone down, but substantially less than was originally quoted).
    Virgin 238/11829 2% paid... Tesco 141/7064 2% paid.... John Lewis 3000/3000 100% paid Next 500/500 100% paid Folks 550/23000 23% paid.
    Total unsecured debt: 9173/45393 20% paid. Current total debt is 36220
    Start date 01/01/19 Official DFD 08/22, hoping for 03/21 instead
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 12th Jan 19, 5:58 PM
    • 71 Posts
    • 240 Thanks
    ohshithowdidthathappen
    Very quiet few days here, I've been signed off work for another 2 weeks. Much as that's great as my knee is still painful. I've found in the past, the longer I'm off, the harder it is to go back! I enjoy being at home.

    Finances are going ok, pretty much on track. Have been eating healthier, still room for improvement though!
    Virgin 238/11829 2% paid... Tesco 141/7064 2% paid.... John Lewis 3000/3000 100% paid Next 500/500 100% paid Folks 550/23000 23% paid.
    Total unsecured debt: 9173/45393 20% paid. Current total debt is 36220
    Start date 01/01/19 Official DFD 08/22, hoping for 03/21 instead
    • mark88man
    • By mark88man 12th Jan 19, 6:43 PM
    • 3,793 Posts
    • 8,692 Thanks
    mark88man
    After 4 weeks off, there should be some return to work process.

    If you stress how sore it is to be doing your normal job, could you get a few weeks of admin duty (every place I ever knew has some jobs that need doing). Now they would be really mean (possibly illegal) to pay you less. At best - you find a niche (eg review, ...) and get some experience or you realise you really really hate admin more than your actual job.

    be careful though HR really don't like being played
    Things happen for a reason. Often the reason is we are stupid & make bad decisions.
    Weight/Health - Fluctuating - better than I was worse than I should be
    End 18: CC:8K@0% - Car Loan:11K@2.8% - Mort:133K@2.1% = 152K
    Decrease in Total Debt 2016:13.4K 2017:8.3K 2018:20K

    • ohshithowdidthathappen
    • By ohshithowdidthathappen 13th Jan 19, 10:14 PM
    • 71 Posts
    • 240 Thanks
    ohshithowdidthathappen
    Looking at the rota for when I go back and they've put me in areas where I can take rest breaks and do admin easier, think that's the best I'll get. When I told the consultant what I did for a living he said that usually he'd sign me off for 2-3 weeks, but would add 1 for luck as radiology are notoriously hard on their staff. Harsh, but fair! I actually love admin, would merrily do it all day.

    Had a pretty unspendy weekend; littlest was a bit poorly, so we hibernated. I let the other 4 invite a friend over each on Saturday, kept them all out of mischief and it was calmer with 9 kids in the house than it would have been with 5 bored ones! Today was a bit of a chore/homework day.

    Will be weird tomorrow, I would usually be at work, so will have 8-6 child free... last week I didn't send them to their wrap round care as it seemed daft me being at home and not having them here, but actually it made them a bit 'it's so lovely coming straight home, why do you have to work....' etc. So, we've decided keeping them to their usual routine will be less disruptive or them until I get back to work :-(
    Virgin 238/11829 2% paid... Tesco 141/7064 2% paid.... John Lewis 3000/3000 100% paid Next 500/500 100% paid Folks 550/23000 23% paid.
    Total unsecured debt: 9173/45393 20% paid. Current total debt is 36220
    Start date 01/01/19 Official DFD 08/22, hoping for 03/21 instead
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 14th Jan 19, 9:48 AM
    • 71 Posts
    • 240 Thanks
    ohshithowdidthathappen
    2lbs lost this last week, so 3 in total this year. 11lb to go..... must admit, I haven't really tried that hard as yet, I did have 2 alcohol free nights last week and have tried to snack less.
    I've been baking more, making banana bread, pizza dough etc.... the children have enjoyed this and have been getting involved too.
    I should be able to do a bit more exercise after Wednesday as that's 2 weeks since my injury and the knee is feeling a bit easier and less swollen. I think I'll start taking short walks and build up, we have got an elliptical trainer, so that might be good too.
    Virgin 238/11829 2% paid... Tesco 141/7064 2% paid.... John Lewis 3000/3000 100% paid Next 500/500 100% paid Folks 550/23000 23% paid.
    Total unsecured debt: 9173/45393 20% paid. Current total debt is 36220
    Start date 01/01/19 Official DFD 08/22, hoping for 03/21 instead
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 15th Jan 19, 10:56 AM
    • 71 Posts
    • 240 Thanks
    ohshithowdidthathappen
    Argh, teenagers. My eldest is struggling with her part of the budget.... when I was going through banks statements, I noticed about 100-150 a month was going in her direction; phone, bus pass, snacks for school, social stuff etc etc. I said to her that it was going to stop and put her and my (much more sensible) second eldest child on a 50 a month budget.
    This was to cover phone (10), bus pass (12, but not necessary, they could walk or bike), snacks at school (we give them each a big lunchbox, so not necessary either) and spending money. We buy all the clothes they need, but designer gear, they have to contribute!
    Child no.2 has embraced the whole thing and apart from his phone, has been saving or spending the rest, but staying within his new means.
    Child no.1 is constantly whining about being skint 'my friends get this, my friends get that'. Today's argument was she didn't want to walk to school, but didn't want to waste her money on the bus and that I should pay for it as it was my fault for buying a house so far from school. Yawn.
    The constant battles are draining, I told her this morning, that every time she moaned and was ungrateful, I'd deduct 5 off the next month's amount. I suggested she get a paper round like both me and my husband did at her age, the look on her face was hilarious. Not quite sure why she's so entitled, our others aren't. Maybe it's a teenage girl thing?
    Virgin 238/11829 2% paid... Tesco 141/7064 2% paid.... John Lewis 3000/3000 100% paid Next 500/500 100% paid Folks 550/23000 23% paid.
    Total unsecured debt: 9173/45393 20% paid. Current total debt is 36220
    Start date 01/01/19 Official DFD 08/22, hoping for 03/21 instead
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 15th Jan 19, 11:00 AM
    • 71 Posts
    • 240 Thanks
    ohshithowdidthathappen
    Money wise, it's a bit painful. I lobbed 1k into the credit card that had the Christmas hangover on it. That was wishful thinking and now our current account is looking very lean, will be tight to keep in the black until pay day. We have a 2k overdraft facility, but we never really use it, might creep into it this month though.
    I've just completed my tax return for 2017/2018 and I now owe 600. Doh. Usually I just use savings or a month's surplus money to cover it. This year, all our savings went on the build, so I'll have to pay it out of my January pay back, so we won't be paying anything much above minimum payments next month. Sad times
    Virgin 238/11829 2% paid... Tesco 141/7064 2% paid.... John Lewis 3000/3000 100% paid Next 500/500 100% paid Folks 550/23000 23% paid.
    Total unsecured debt: 9173/45393 20% paid. Current total debt is 36220
    Start date 01/01/19 Official DFD 08/22, hoping for 03/21 instead
    • enthusiasticsaver
    • By enthusiasticsaver 15th Jan 19, 12:20 PM
    • 8,216 Posts
    • 18,599 Thanks
    enthusiasticsaver
    Child no.1 is constantly whining about being skint 'my friends get this, my friends get that'. Today's argument was she didn't want to walk to school, but didn't want to waste her money on the bus and that I should pay for it as it was my fault for buying a house so far from school. Yawn.
    The constant battles are draining, I told her this morning, that every time she moaned and was ungrateful, I'd deduct 5 off the next month's amount. I suggested she get a paper round like both me and my husband did at her age, the look on her face was hilarious. Not quite sure why she's so entitled, our others aren't. Maybe it's a teenage girl thing?
    Originally posted by ohshithowdidthathappen
    Nope it is not a teenage girl thing. Not sure how old your daughter is but my two girls were out working at 16, waitressing, cleaning, shopwork. The elder one did a paper round for a while too. We made it very clear that if they wanted extra money for going out, clothes etc etc then they needed to earn it. They had allowances from 13 though and the only thing we bought for them was school uniform and school shoes. Clothes, entertainment and 50% of school trips had to come from their money and it really focused their minds on the difference between wants and needs especially as we were strict on not lending them money if they ran out half way through the month. Good life lesson for teenagers I think.


    If this is something new for your daughter I daresay it will take a few months for her to adjust but I had to laugh when you said you will deduct 5 for moaning. That is a good idea actually. If she is the type of child who does feel entitled (could be the kids she mixes with are very rich?) then you are really doing her a favour by making her realise that money does not grow on trees.
    Early retired in December 2017

    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
    • Igamogam
    • By Igamogam 15th Jan 19, 9:02 PM
    • 5,764 Posts
    • 47,491 Thanks
    Igamogam
    I have an eldest that cant hang to money or work out where is goes and a second that has managed to saved almost 7K whilst being a student!! I paid the student rent for the first one and am still bailing her out 7 years later....a parents love is unconditional and all that. Second one pays her own rent because university is only 6 miles away and she wanted to live there rather than at home so that was the deal. She also runs a car which first one didn't and both of them had holiday jobs doing the same job and neither of them have expensive tastes............chalk and cheese when it come to money an budgets!!
    Be the change you want to see -with apologies to Gandhi
    In gardens, beauty is a by-product. The main business is sex and death. ~Sam Llewelyn
    'On the internet no one knows you are a cat'
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