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    • ohshithowdidthathappen
    • By ohshithowdidthathappen 20th Dec 18, 10:56 PM
    • 472Posts
    • 2,061Thanks
    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 23
    • savingholmes
    • By savingholmes 6th Jan 20, 7:16 PM
    • 10,256 Posts
    • 21,432 Thanks
    savingholmes
    When the entitled teen asks for something excessive, I'll say 'that's equivalent to me working x number of hours', maybe I should apply the same logic to OH and I!
    Originally posted by ohshithowdidthathappen
    Yes I am trying to do this at the moment. Not easy. However we have limited personal spends reasonably successfully for six months now so we are improving. I am still the worst of the two of us for unplanned spending but tend to blame it on also being the main shopper and organiser...

    The wait 72 hours rule also helps - if you still want it after 72 hours potentially get it then rather than immediately - that can also help.
    During 2020: Target 1) 25,121 to be repaid in 2020 (0%) Now down to 24,703 Target 2) repay 1450 off (OP 102.51) mortgage now 144872 @1.7% Target 3) Set up SIPPs Target 4) Declutter 52 bags - now done 4/52
    • Drawingaline
    • By Drawingaline 6th Jan 20, 9:43 PM
    • 1,026 Posts
    • 3,496 Thanks
    Drawingaline
    It's hard. We are a family of six and we haven't added to the debt this year, cash flowed a holiday, done some house renovations and survived me being off work and on reduced hours after an accident (I am self employed). I am taking it as a win, but have plans to start overpaying every month, even if it is just 10!
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 7th Jan 20, 10:15 PM
    • 472 Posts
    • 2,061 Thanks
    ohshithowdidthathappen
    Back to work and school today... in a way, I welcome the routine.

    I feel less maternal guilt now my youngest is at school, the youngest 3 are only in childcare for 2.5 hours a day, 3 days a week. Doesn't feel as much of a trade off as when I was working only 2 days, but my littlest was in nursery for 10 hours for those 2 days... it's self imposed guilt as many do longer hours, I think it's just because my ideal would be zero hours in childcare, not really doable nowadays!

    Took a peek at accounts and current account should be ok to payday and the dreaded CC should be holding at 1500 by the cut off, not too shabby post Christmas.

    I'd love to commit the 2 months off of council tax to the CC, but 2 big payments due on school trips wipes the 450 out sadly!

    OH should hear about his bonus within the next few months, fingers crossed for a good one...
    Total unsecured debt: 8500/45393 81% paid.
    Aiming for DFD of 03/21
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 10th Jan 20, 10:13 AM
    • 472 Posts
    • 2,061 Thanks
    ohshithowdidthathappen
    No big in roads made so far; current account still on track to stay in the black, CC still on track to be 1500 by the cut off.
    I'm still using YNAB and finding it very useful. I don't use it as religiously as I should, it's definitely an area to improve on!
    Total unsecured debt: 8500/45393 81% paid.
    Aiming for DFD of 03/21
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 10th Jan 20, 10:23 AM
    • 472 Posts
    • 2,061 Thanks
    ohshithowdidthathappen
    I looked back over past years and OH usually gets his bonus in February pay pack, so that's sooner than I thought and he should hear first week of February what it'll be. Last year he got 17k, which worked out at 9.6K after tax etc (I'm always slightly depressed at how much gets knocked off for deductions ) Anyway, still a lovely amount and we're hoping for similar this year (although absolutely no guarantee):

    We're pondering 2 scenarios based on the 9.6K figure:

    1) Pay back the entire family loan and have 1.1k left over
    2) Pay back the 4.5k that we've committed to and then keep the 5.1k back

    My FIL is in no rush for the money back and isn't charging us interest, but on the other hand it would be nice to be debt free (apart from monster mortgage).
    On the other hand, if we kept back the 5.1k we could pay off the lingering CC balance (1500) so that we weren't living a month behind, save 1k for upcoming summer holiday, save 1k for Christmas 2020 and put the last 1600 into our house renovation pot for this year (currently have 1500 in there).

    We go back and forth, guess we'll wait and see what he gets and go from there
    Total unsecured debt: 8500/45393 81% paid.
    Aiming for DFD of 03/21
    • Savingtomove
    • By Savingtomove 11th Jan 20, 8:10 PM
    • 30 Posts
    • 88 Thanks
    Savingtomove
    Just read your diary! Sounds like you do really well with the expenses associated with 5 children! I struggle with two very small ones. Well done for the CC balance post Christmas!
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 11th Jan 20, 10:50 PM
    • 472 Posts
    • 2,061 Thanks
    ohshithowdidthathappen
    An extra shift done today, 130 earned after deductions. I now work 2 long Saturdays and 1 short Saturday a month.... these earn 330 a month. I guess they'd be classed as a side hustle as they're on top of my main job during the week. We have Sundays as our family day and we're very protective of them; if we're not seeing family, we do a roast for lunch and play board games in the afternoon. Kids love it and it gets them off their screens!

    We've been keeping to our 150 a week food budget for a few months now (apart from Christmas), which is good. I'm sure we could trim more, but not without noticing and I'm happy with this amount. I meal plan and cook in bulk, we've got really good at taking lunches to work too.

    We've stayed away from the sales apart from a few bits of kids clothing in their next sizes up, around 100 spent in total.

    I've signed up for another annual National Trust membership as that's a complete bargain for a large family and pays for itself within 2-3 visits, last year we visited 15-20 times, so well worth it.
    Total unsecured debt: 8500/45393 81% paid.
    Aiming for DFD of 03/21
    • mark88man
    • By mark88man 11th Jan 20, 11:12 PM
    • 4,661 Posts
    • 11,912 Thanks
    mark88man
    what type of board games do you like. I know quite a few that would be good 12-13 up, but maybe not so many for younger
    I think I saw you in an ice-cream parlour - Drinking milk shakes cold and long - Smiling and waving and looking so fine (5 years - Bowie)
    Weight/Health - Fluctuating - much worse than I should be
    End 19: CC:16K@0% - Car Loan:6K@2.8% - Mort:118K@2.1% = 140K
    Decrease in Total Debt 2016:13.4K 2017:8.3K 2018:20K 2018:16K

    • Debsnewbudget
    • By Debsnewbudget 12th Jan 20, 10:20 AM
    • 304 Posts
    • 2,865 Thanks
    Debsnewbudget
    My family love the game called 5 Second Rule
    Such a simple concept but sometimes your brain freezes
    • mark88man
    • By mark88man 12th Jan 20, 10:32 AM
    • 4,661 Posts
    • 11,912 Thanks
    mark88man
    That looks fun - here are some card and board games for between 4-7 players mainly age 10+ but zombie dice could be played by young ones with a bit of help

    https://boardgamegeek.com/boardgame/5782/coloretto
    https://boardgamegeek.com/boardgame/24068/shadow-hunters
    https://boardgamegeek.com/boardgame/148228/splendor
    https://boardgamegeek.com/boardgame/62871/zombie-dice

    Plenty more where those came from
    I think I saw you in an ice-cream parlour - Drinking milk shakes cold and long - Smiling and waving and looking so fine (5 years - Bowie)
    Weight/Health - Fluctuating - much worse than I should be
    End 19: CC:16K@0% - Car Loan:6K@2.8% - Mort:118K@2.1% = 140K
    Decrease in Total Debt 2016:13.4K 2017:8.3K 2018:20K 2018:16K

    • ohshithowdidthathappen
    • By ohshithowdidthathappen 12th Jan 20, 4:17 PM
    • 472 Posts
    • 2,061 Thanks
    ohshithowdidthathappen
    ooo thanks, I'll take a look at those.

    We currently play things like Game of life, game of great britain, monopoly, frustration, labyrinth etc
    Total unsecured debt: 8500/45393 81% paid.
    Aiming for DFD of 03/21
    • mark88man
    • By mark88man 12th Jan 20, 5:51 PM
    • 4,661 Posts
    • 11,912 Thanks
    mark88man
    The ones above are a little less mainstream, but in terms of raw enjoyment Zombie dice is good - its about odds and risk. Colorettot is similar but has a bit more of playing others with it.

    Splendor is middling complex its about having a strategy but being able to change your mind, and is quite simple in its rules with a balance for playing your own game but watching out for others

    Shadow Hunters is a bit more fanciful - its my favorite at the moment - you have lots of different things going on, and is popular whenever we have younger (but still late teen) players in our group

    The last two are probably a bit heavy for post Sunday Roast!!
    I think I saw you in an ice-cream parlour - Drinking milk shakes cold and long - Smiling and waving and looking so fine (5 years - Bowie)
    Weight/Health - Fluctuating - much worse than I should be
    End 19: CC:16K@0% - Car Loan:6K@2.8% - Mort:118K@2.1% = 140K
    Decrease in Total Debt 2016:13.4K 2017:8.3K 2018:20K 2018:16K

    • Isitdoable
    • By Isitdoable 12th Jan 20, 6:59 PM
    • 25 Posts
    • 61 Thanks
    Isitdoable
    New here and just started working my way through your diary! Really enjoying it, and you look like you are doing amazingly in paying off your debt!
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 13th Jan 20, 2:36 PM
    • 472 Posts
    • 2,061 Thanks
    ohshithowdidthathappen
    Wow, January is a loooooong month, isn't it? Another 2 weeks until pay day and it's boring having no money and not being able to eat nice food due to shifting the festive fat. I don't subscribe to dry January, because that would finish me off

    Busy week ahead, I'm on a training course for a few days and then a couple of family Birthdays are coming up, so loads to keep me busy.

    Doing ok with the budgeting, but I'm definitely looking forward to our pay coming in at the end of the month as I've spread the money quite thinly to recoup from Christmas. No major outgoings left for the rest of the month, all DDs paid, so just treading water really
    Total unsecured debt: 8500/45393 81% paid.
    Aiming for DFD of 03/21
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 14th Jan 20, 10:04 PM
    • 472 Posts
    • 2,061 Thanks
    ohshithowdidthathappen
    Spendy week this week, I've got to go on a training course for work. It's costing 30 a day in train fares and I've got to pay them! No money in department budget apparently. Very unimpressed. As it's only 3 days, I can't even make a saving buying a weekly ticket, so 90 gone
    I bought lunch too today as had to be out of the house by 6.45 and that was painful enough without making lunch to take in. Would love to say I'll do better tomorrow, but that would be a lie

    First week back from holidays, all the kids clubs need subs. I make it 160 to be paid, trying to decide if it's cheating to 'forget' this week and pay them all by cheque next week so cheques don't clear until after pay day?
    Total unsecured debt: 8500/45393 81% paid.
    Aiming for DFD of 03/21
    • Chrystal
    • By Chrystal 14th Jan 20, 10:09 PM
    • 864 Posts
    • 6,205 Thanks
    Chrystal
    How on earth do your employers get away with that????
    I Believe.....
    That it isn't always enough, to be forgiven by others.
    Sometimes, you have to learn to forgive yourself.
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 15th Jan 20, 10:13 PM
    • 472 Posts
    • 2,061 Thanks
    ohshithowdidthathappen
    Apparently, there's no obligation for them to pay... even though my job depends on me attending. Very annoying. I've got to go for one week a month until the end of the year, so will cost me over 1K in train fares. Sad times.
    Total unsecured debt: 8500/45393 81% paid.
    Aiming for DFD of 03/21
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 15th Jan 20, 10:28 PM
    • 2,520 Posts
    • 14,178 Thanks
    wishingthemortgaheaway
    That's shocking.

    What would happen if you didn't go? Are you in a union? Would they intervene on your behalf? Even if they only cover the additional cost compared to your 'normal' commute - I bet the bosses don't have to pay for their own travel.

    The only thing I can think of is that you complete a tax return and claim it back that way. My company (charity) only pay 40p per mile travel, so I have to claim the other 5p per mile (to take it up to the hmrc rate) through my tax return.

    For 1000 it would be worth the faff if the system.
    That way, you could look at the expense as 'savings' and you'll get a lump sum back
    Outstanding mortgage: 23,181 (December 19)
    MFW 2020 Challenge Member #10 0/2318
    • savingholmes
    • By savingholmes 16th Jan 20, 9:33 PM
    • 10,256 Posts
    • 21,432 Thanks
    savingholmes
    I agree - the hmrc route could be a way to go.

    You sound like you've got on top of the grocery budget. Talking about your DH's bonus - I would clear the 1500 that lingers and start from scratch. I personally would pay off family as I think it adds a level of discomfort. Our DS owes us money at the moment and it is really annoying - even though we don't mention it often. We do struggle not to begrudge what he is spending his money on in preference to paying us. Just keeping it real...
    During 2020: Target 1) 25,121 to be repaid in 2020 (0%) Now down to 24,703 Target 2) repay 1450 off (OP 102.51) mortgage now 144872 @1.7% Target 3) Set up SIPPs Target 4) Declutter 52 bags - now done 4/52
    • ohshithowdidthathappen
    • By ohshithowdidthathappen 16th Jan 20, 10:00 PM
    • 472 Posts
    • 2,061 Thanks
    ohshithowdidthathappen
    That's shocking.

    What would happen if you didn't go? Are you in a union? Would they intervene on your behalf? Even if they only cover the additional cost compared to your 'normal' commute - I bet the bosses don't have to pay for their own travel.

    The only thing I can think of is that you complete a tax return and claim it back that way. My company (charity) only pay 40p per mile travel, so I have to claim the other 5p per mile (to take it up to the hmrc rate) through my tax return.

    For 1000 it would be worth the faff if the system.
    That way, you could look at the expense as 'savings' and you'll get a lump sum back
    Originally posted by wishingthemortgaheaway
    I'm probably being thick, but how can I claim back through HMRC if this is for my PAYE job? More than happy to give it a go.
    I am a member of a union (radiography). It's a tricky one; they're paying my full salary while I'm training, plus paying the 9K course fee. Their 'isn't that enough?' stance is understandable. But I'm '100 a month for excess travel is A LOT'. Not sure how much to push it.

    I agree - the hmrc route could be a way to go.

    You sound like you've got on top of the grocery budget. Talking about your DH's bonus - I would clear the 1500 that lingers and start from scratch. I personally would pay off family as I think it adds a level of discomfort. Our DS owes us money at the moment and it is really annoying - even though we don't mention it often. We do struggle not to begrudge what he is spending his money on in preference to paying us. Just keeping it real...
    Originally posted by savingholmes
    I agree, it would be nice to clear the 8.5k family loan, although we wouldn't then be able to clear the 1500 lingering CC balance.
    FIL is loaded, he refuses to take over and above what he's agreed with us to repay. OH has a brother who constantly has his hand out and step-MIL has 3 daughters who also have their hands constantly out. They never repay what they take, whereas we always do. I think he finds it hard to accept our repayments when he knows the others aren't doing the same.
    We'll wait and see what bonus is and then have the discussion with him again
    Total unsecured debt: 8500/45393 81% paid.
    Aiming for DFD of 03/21
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