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  • FIRST POST
    • HonestS
    • By HonestS 13th Jan 19, 7:16 PM
    • 30Posts
    • 26Thanks
    HonestS
    Here I go, Step One...
    • #1
    • 13th Jan 19, 7:16 PM
    Here I go, Step One... 13th Jan 19 at 7:16 PM
    After reading through some of the diaries I’ve decided to do one of my own, I’d like to keep a record that I can look back on and have a reminder of my plans.

    I’ve been getting into debt for years and burying my head in the sand. I’m a single parent of 2 and I work part time in manual jobs that leave me physically drained so I can't take on any more hours. Last year I had breast cancer and had 6 months off work for treatment, I went back when my SSP ended but I still have 6 months of treatment to go, I’m hoping to feel less tired when it ends. I feel mentally drained from the cancer and debt, I haven’t slept very well for so long and I’ve felt close to a nervous breakdown at times. I’m hoping to get some relief from the worry and am already feeling better after reading the DMP support thread and diaries.

    I have around £25k of CC debt and owe £9k to my mum. I’m mortified and so ashamed of myself, and nobody knows about it. I’m starting a SM DMP, I want to make token payments for as long as possible so I can concentrate on my priority debt which is my mum. I'll worry about the rest after.

    My aim is to reduce outgoings, start budgeting, have at least 3 NSDs a week, only carry cash and when it’s gone it’s gone, I wait till the next week. I need to become shopping savvy, plan meals, reduce waste and stay off Amazon! I’m going to save every penny I can, first for an EF then for my mum. While I’ve been paying so much to the CCs I had no way of saving for emergencies or one off’s like car insurance, it shouldn’t be a problem now. I want to start a spending diary to keep track everything and scrutinise my spending, I am determined to be debt free!

    I see light at the end of the tunnel at last, it’s just going to take a while to get to it. I should be debt free in 10 years but my intentions are to stay healthy and get there in 5. Here I go...
    Last edited by HonestS; 14-01-2019 at 7:37 PM.
Page 1
    • EscapingTheAlarm
    • By EscapingTheAlarm 13th Jan 19, 7:58 PM
    • 120 Posts
    • 241 Thanks
    EscapingTheAlarm
    • #2
    • 13th Jan 19, 7:58 PM
    • #2
    • 13th Jan 19, 7:58 PM
    Hi HonestS! I'm just popping in to say I think you're amazing to tackle debt at the same time as going through such an ordeal! Reading your post really struck a cord with me as my DH was in a similar situation 2 years ago and I remember the feeling of not being able to care less about 'real world' problems while getting through treatment mixed with the knowledge that you'll be hurled back into the real world quicker than you think and that it's only your world that's stopped turning, not everyone else's so needing to keep on top of everything at the same time...
    Just remember to be kind to yourself- you're doing an amazing job and should not be feeling guilty about past mistakes. This is the perfect opportunity to start afresh and make the changes to your life that you want to! I'll be following you and cheering you on!
    ETA x
    • HonestS
    • By HonestS 13th Jan 19, 8:59 PM
    • 30 Posts
    • 26 Thanks
    HonestS
    • #3
    • 13th Jan 19, 8:59 PM
    • #3
    • 13th Jan 19, 8:59 PM
    Thank you ETA. Your description is spot on, that's exactly how it's been through treatment, not thinking about it but knowing that you have to at some point so end up being both desperate to get back to normality and terrified of it at the same time, ugh! I could carry on burying my head but it's not worked well for me so far, the debts have grown and I've slept less! I need to give my brain a rest so the time to tackle is now. Plus I really want to pay my mum back, after the dreadful year we both had I'm taking nothing for granted, you never know what's round the corner.

    Oddly, this feels like being kind to myself, the pressure to keep coping has been immense so there's a sense of relief from accepting that I can't!

    I hope your DH is well now,
    Thanks again x
    Last edited by HonestS; 13-01-2019 at 9:07 PM.
    • beanielou
    • By beanielou 13th Jan 19, 11:01 PM
    • 60,049 Posts
    • 251,974 Thanks
    beanielou
    • #4
    • 13th Jan 19, 11:01 PM
    • #4
    • 13th Jan 19, 11:01 PM
    Happy shiny new diary
    Wishing you well on your DF journey & with your treatment.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 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. ***Be the difference.***
    • enthusiasticsaver
    • By enthusiasticsaver 13th Jan 19, 11:35 PM
    • 7,665 Posts
    • 17,069 Thanks
    enthusiasticsaver
    • #5
    • 13th Jan 19, 11:35 PM
    • #5
    • 13th Jan 19, 11:35 PM
    Good luck with your treatment and sorting out your finances. Not easy to be coping with a life threatening illness and high debt at the same time.
    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
    • HonestS
    • By HonestS 13th Jan 19, 11:48 PM
    • 30 Posts
    • 26 Thanks
    HonestS
    • #6
    • 13th Jan 19, 11:48 PM
    • #6
    • 13th Jan 19, 11:48 PM
    Thank you Beanielou and enthusiasticsaver.

    Thankfully the illness is gone now (hopefully forever), the treatment Iím still having is to prevent it coming back. Iíll be glad when itís all over and, with my finances in a better place by then, things will be looking much brighter
    • HonestS
    • By HonestS 14th Jan 19, 8:42 PM
    • 30 Posts
    • 26 Thanks
    HonestS
    • #7
    • 14th Jan 19, 8:42 PM
    • #7
    • 14th Jan 19, 8:42 PM
    My SOA!

    Number of people in my household
    Adults 1
    Children (Under 16) 1
    Non-dependant/Other 1

    Income Monthly

    Total Income £2266.86

    Outgoings
    Mortgage(s) £260.00
    Council Tax £146.00
    Food / Housekeeping £300.00
    Electricity £48.00
    Gas £64.00
    Water £38.00
    TV Licence / Rental £12.83
    Clothing / Footwear £40.00
    Internet/Virgin TV £64.00
    Mobile Contracts £65.00
    Petrol/Insurance/Tax £200.00
    Insurances £96.50
    Misc (netflix etc) £30.00
    Total Outgoing £1364.33

    Money for Creditors
    Total Income £2266.86
    Total Outgoings £1364.33
    Money For Creditors £902.53
    • HonestS
    • By HonestS 14th Jan 19, 8:56 PM
    • 30 Posts
    • 26 Thanks
    HonestS
    • #8
    • 14th Jan 19, 8:56 PM
    • #8
    • 14th Jan 19, 8:56 PM
    I should have savings, not be in debt!
    • Onebrokelady
    • By Onebrokelady 14th Jan 19, 9:58 PM
    • 1,275 Posts
    • 7,222 Thanks
    Onebrokelady
    • #9
    • 14th Jan 19, 9:58 PM
    • #9
    • 14th Jan 19, 9:58 PM
    Hi,happy new diary 😊
    Did you get any financial help while you were having treatment, I think some,of the cancer charities have funds for helping people out who are in financial difficulties, for instance if you were undable to work
    Also are you locked into a contract still with your phone provider and satallite tv provider,if not now would be the time to look for a cheaper deal
    Good luck with your debt free journey,I've subscribed to see how you get on 😊
    Just keep swimming
    Original Debt Owed Jan 18 = £17,630 Paid To Date = £1,598 Total Now Owed = £16,032
    Emergency Fund = £300 Xmas savings = £0
    • HonestS
    • By HonestS 14th Jan 19, 10:50 PM
    • 30 Posts
    • 26 Thanks
    HonestS
    Hi Onebrokelady,

    I didnít apply for the grants, I had money coming in from income protection insurance which was enough to cope but I couldnít have survived on it without the SSP, so I went back to work when it ended!

    I have about 6 months or so left on the contract with Virgin, I can take the TV off and keep broadband for £43 so I might do that, but we donít have an outside aerial so Iíd be creating a new problem :/ My kids are obsessed with internet speeds, they panic when I suggest getting a cheaper deal because this is the best where we are apparently. I know you get the best deals when you tell them youíre leaving so will try that when the contract is up.

    I have 18mths on the mobile contracts

    Thanks for subscribing, Iím mostly on my mobile so donít see that option. Will start using the laptop more!
    • parsniphead
    • By parsniphead 14th Jan 19, 11:21 PM
    • 2,587 Posts
    • 16,950 Thanks
    parsniphead
    Just wishing you all the best onebrokelady. I hope everything works out for for you.
    My mini challenge: pay off MBNA by 31/08/18. £502/£502 100% (paid off 30/06/18 - 2 months early )

    Pay of all debt by xmas 2019 #09 - £0/ £8471 %
    • EscapingTheAlarm
    • By EscapingTheAlarm 15th Jan 19, 6:56 AM
    • 120 Posts
    • 241 Thanks
    EscapingTheAlarm
    Your SOA doesn't look too bad- it's just a case now of figuring out where all the spare money is going! Have you thought of keeping a spending diary at all?
    Hopefully with figures like that, you'll soon see a huge difference in your debt totals!
    ETA x
    • EscapingTheAlarm
    • By EscapingTheAlarm 15th Jan 19, 6:58 AM
    • 120 Posts
    • 241 Thanks
    EscapingTheAlarm
    And yes thank you- DH is all clear now (phew!) we've even got a baby on the way!!
    ETA x
    • HonestS
    • By HonestS 15th Jan 19, 11:20 AM
    • 30 Posts
    • 26 Thanks
    HonestS
    Hmmm what have I been doing with the money? just generally wasting it I suppose but I have been paying over £400 a month on the CC payments so wasting about £100 a week. I only really put big spends on the CCs, not day to day stuff although Iím sure Iíve done that sometimes in the past.

    Iím starting a spending diary today. I got a little book from Poundland yesterday but Iím wondering if thereís an easier way? Iím going shopping to Lidl on my way home from hospital and will be trying to stick to a £50 budget for food each week from now on. This will include pet food.

    I also got a load of envelopes from Poundland, I think the easiest way for me to do this is to withdraw the cash once a week and separate it into various envelopes. Not ideal to have it in the house but if itís left sitting in my bank account I might be tempted to make impulse purchases off Amazon. Thatís probably where Iíve wasted loads of it.
    • Lifeisforliving19
    • By Lifeisforliving19 15th Jan 19, 12:51 PM
    • 100 Posts
    • 575 Thanks
    Lifeisforliving19
    Just found your diary and subscribed. Good luck in your finances and in your health. I know how hard ti can be coping with debts when you are not well, and by the sound of it, you have done amazingly well.
    I have found that having a diary on here, really does help. Not just with the financial things, but to give you a boost when you are feeling down.
    I will follow your journey with interest and hope to be able to give you some support when you need it.
    DMP 2015 £57,549, now £42,955 (25% paid)
    EF £315 Mortgage OP's this year £20
    Christmas 2019 £30 SPC #110
    There's a Great Big Beautiful Tomorrow, Shining at the End of Every Day!

    • Onebrokelady
    • By Onebrokelady 15th Jan 19, 1:30 PM
    • 1,275 Posts
    • 7,222 Thanks
    Onebrokelady
    I do myself a food budget of £100 a month and I draw the cash when I get paid and use the envelope method,I keep all my receipts so I can keep a check on what I'm spending my money on, using the envelopes had been the best way for me to make my shopping money last because otherwise I fritter it away on coffees with friends and then don't have enough for food
    I now try to plan where all my money is going for the month before I get paid then on pay day or shortly after I move it to where I want it to go,so some goes in the emegancy fund,some into savings and food money into envelopes,I pay all my bills via direct debit so I make sure they are covered and I always leave a small amount in the account in case of errors in my maths,this year I'm going to start putting any spare money into my savings even if it's not ear marked for that,I'm doing this because I then have to transfer it back to my current account if I want to spend it and that gives me chance to think about if I really want to spend it or not,if I need it n an emergency then I can just transfer it back anyway but it's not just there in my account being wasted on things I probably don't need
    Just keep swimming
    Original Debt Owed Jan 18 = £17,630 Paid To Date = £1,598 Total Now Owed = £16,032
    Emergency Fund = £300 Xmas savings = £0
    • HonestS
    • By HonestS 15th Jan 19, 2:52 PM
    • 30 Posts
    • 26 Thanks
    HonestS
    And yes thank you- DH is all clear now (phew!) we've even got a baby on the way!!
    ETA x
    Originally posted by EscapingTheAlarm
    Excellent! Contgratulations
    • Lifeisforliving19
    • By Lifeisforliving19 15th Jan 19, 2:57 PM
    • 100 Posts
    • 575 Thanks
    Lifeisforliving19
    I do myself a food budget of £100 a month and I draw the cash when I get paid and use the envelope method,I keep all my receipts so I can keep a check on what I'm spending my money on, using the envelopes had been the best way for me to make my shopping money last because otherwise I fritter it away on coffees with friends and then don't have enough for food
    I now try to plan where all my money is going for the month before I get paid then on pay day or shortly after I move it to where I want it to go,so some goes in the emegancy fund,some into savings and food money into envelopes,I pay all my bills via direct debit so I make sure they are covered and I always leave a small amount in the account in case of errors in my maths,this year I'm going to start putting any spare money into my savings even if it's not ear marked for that,I'm doing this because I then have to transfer it back to my current account if I want to spend it and that gives me chance to think about if I really want to spend it or not,if I need it n an emergency then I can just transfer it back anyway but it's not just there in my account being wasted on things I probably don't need
    Originally posted by Onebrokelady

    I agree that the envelope method works really well.
    DMP 2015 £57,549, now £42,955 (25% paid)
    EF £315 Mortgage OP's this year £20
    Christmas 2019 £30 SPC #110
    There's a Great Big Beautiful Tomorrow, Shining at the End of Every Day!

    • HonestS
    • By HonestS 15th Jan 19, 2:59 PM
    • 30 Posts
    • 26 Thanks
    HonestS
    Thanks Lifeisforliving.

    I really appreciate everyone's support, it shines a light on what really is a gloomy part of life.

    Onebrokelady, I like what you do with your money so I'm going to see if I can get a savings account attached to my Nationwide current acc as that's what all of my money will be going through now. Even if I don't end up saving the bulk of it in there, I'd quite like to do the VSP challenge that I've seen on other diaries.
    • Onebrokelady
    • By Onebrokelady 15th Jan 19, 6:32 PM
    • 1,275 Posts
    • 7,222 Thanks
    Onebrokelady
    What's the VSP challenge,I haven't seen that one
    Just keep swimming
    Original Debt Owed Jan 18 = £17,630 Paid To Date = £1,598 Total Now Owed = £16,032
    Emergency Fund = £300 Xmas savings = £0
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