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Debt support thread #2

999 replies

Nerfmother · 28/02/2014 17:25

Here we are! Can't be bothered to think of an exciting title, sorry Blush

OP posts:
ellietrying · 09/03/2014 21:21

Just worked out our mid-month budgets and seems as though we may be on track for the first time! Scared to jinx myself but I'm excited! Need to get a few bits from asda, maybe tomorrow, but a lot of it is store cupboard stuff so would last longer than a week.

afterthought · 09/03/2014 21:25

Thanks TalkinPeace - I confessed on a different forum and all I got was nagged that I should tell DP. I know I should, but I am trying to minimise the impact my past stupidity has on a future that could be very bright.

It feels good that I have somewhere I can come and be honest - I hope it will help.

PS -I'm glad you said what you did about potatoes. We are starting a vegetable patch in our garden and I thought potatoes seemed daft as we could never grow the amount we use (make every potato product from scratch). I fancy trying some chillies.

TalkinPeace · 09/03/2014 21:30

afterthought
I would be happier if you told your DH : for the simple reason that your relationship is currently built on a lie
but
I can also see that if you wait a month or two to get a plan and systems in place then you can tell him about the route out, not the problem

GARDENING
go to the supermarket and look at what is the most per kilo ....
dwarf french beans - a doddle to grow, killer expensive
herbs
chilllies
cherry tomatoes
spring onions

do NOT grow cheap stuff

Nerfmother · 09/03/2014 21:32

Tip - what is your attitude to credit like now? Would you ever have something on hp for example, or are you really committed to saving up for things?
I can't imagine ever wanting to go near another credit agreement after this, but who knows? Maybe that's not actually practical these days.

OP posts:
TalkinPeace · 09/03/2014 21:46

Nerfmother
I'm self employed, as is DH so we have very erratic income

therefore EVERYTHING goes onto the credit card .... even a pint of milk
the bills are on direct debit and once a month I move money into the account to clear the credit card bill (which is always around £3000)

cars have been bought out of the mortgage overpayment fund - ie savings ish ... we're trying to stave off replacing both as that will be around £35k and we may end up using an HP

but in general my ethos now is that you should ONLY borrow to pay for something that will be worth the same if not more at the end of the borrowing term
(houses OK, not much else is)

but the reality is, that save first then spend is the right way for most things

Nerfmother · 09/03/2014 23:12

That's interesting, so credit card for every day purchases but clear it before interest kicks in?
Sorry, just realised in extremely nosy, but really wanted to know how you felt now. Smile

OP posts:
Possiblyorange · 10/03/2014 06:48

I like growing new potatoes for a treat when we're growing lots of veg, but they're certainly not the most economical thing in the world. Perpetual greens are quite useful (kale/perpetual spinach type things) - even though they're not expensive in the supermarket it's good always having something green to throw into a meal, I found. I will not be swayed from salad and herbs only this year though! Have made a plan with horsey friend to visit her with my mother once the baby arrives and we can take some well rotted compost, so that problem is solved (although it won't be till late april, but I don't think that will matter for the things I'm planning on growing).

Afterthought I understand why you don't want to tell your DH. You might find you feel able too once you're in control of it and it's reducing, but as long as you can manage it single handed, it could be possible to do it alone.

Nerf we were talking about buying a new car yesterday (can't fit three across the back in current one) and we have decided we just can't take the stress of ever getting in debt again once this lot is paid off. We will hire cars if we need a bigger one to visit family, and as soon as debt is paid off will start saving for a new car if we decide that we need one (we are good public transport users, so it may not be a problem, will be interesting to see how we cope). The only debt I ever take on again will be a mortgage.

Interestingly, DH and I both have divorced/remarried parents, and of all of the couples, the only ones enjoying a comfortable retirement are the lowest earners, but the most debt-phobic pair, who paid off their mortgage asap, saved, bought a rental property with an inheritance, paid off the small mortgage on that asap. They don't have a massive income, but their outgoings are tiny as no mortgage and have converted their house to be energy efficient and grow loads of veg. I think there's a lesson there.

Am planning on spending an hour or so this morning seeing how the finances are and balancing the books, will be interesting to see how we're going at not-increasing-the-debt-too-much in my first month of maternity leave!

atthestrokeoftwelve · 10/03/2014 07:01

Think about a PPI claim. I had heard all the ads but knew that it wouldn't apply to me as although I had a couple of loans 7 or 8 years ago I didn't take out PPI. I wouldn't have as I was ( and still am) self employed so the insurance would have been useless.

Thought I's give a quick call to the bank and was stunned to find out that I had paid PPI on those loans!!
I submitted a claim- didn't use a company- to the bank and within 4 weeks had £3300 paid to me. Great result!! It was easy, just a simple form.

I would urge everyone to check, I was completely convinced that I had no grounds for a PPI claim, but very glad I made that call.

Possiblyorange · 10/03/2014 09:40

Wow twelve that's brilliant news (although obviously awful that you were basically charged PPI without being told!).

I have just been through and reconciled my accounts. Looking healthier than I was expecting TBH. My 'what we typically spend' scenario had the CC debt forecast to grow by £3,495 this month (have I mentioned that our committed outgoings are currently MASSSIVE?!?), and between spending cuts made already and income already in from my second little business this month it's already forecast to be down to around £2,900 on the card. That's almost £700 less debt growth than we were expecting in this month alone. I'd love to reduce it a bit further! The more I can get it down, the quicker we can pay it off when i'm back at work in June.

Gym membership stopped this month, so that will be another £110 knocked off the outgoings next month, as well as the nanny reducing to 2 days a week in advance of leaving at the end of May, which will save us about £450 a month for April and May. Nice to feel like I'm really carving away at the outgoings.

themoneyone · 10/03/2014 10:51

Great news twelve and orange. Good news here too, as there was a random pay run meaning I got paid. I've put aside April's nursery fees, and am attempting to pay off student loan (talking to 5th person in 35 minutes - such hard work and I've got the call centre incompetence rage). Aaagh, they have now told me someone will call back later today to take payment. Will update later!

TalkinPeace · 10/03/2014 11:28

possiblyorange
that is a really interesting point you make about the debt free couple

people who live within their means and do got get sucked into buying stuff to keep up or for its own sake can survive on remarkably little as no spending is wasted

it is very much a mindset thing : and the painful process of paying off insurmountable debts should help all of you come out the other side stronger people, and able to help your kids make sane choices so they never get into a hole.

Mum2Fergus · 10/03/2014 12:58

Afternoon all...not caught up due to busy weekend! Sat spent 3.02 to upgrade car insurance for new car, Sun NSD. Sat doing budget now and housekeeping is balanced, envelopes and emergency funds empty as both balances had to go towards the carConfused but will get them back to proper position when I get paid next week. Other than that,nothing to report!!

Mum2Fergus · 10/03/2014 12:58

Afternoon all...not caught up due to busy weekend! Sat spent 3.02 to upgrade car insurance for new car, Sun NSD. Sat doing budget now and housekeeping is balanced, envelopes and emergency funds empty as both balances had to go towards the carConfused but will get them back to proper position when I get paid next week. Other than that,nothing to report!!

Mum2Fergus · 10/03/2014 12:58

Afternoon all...not caught up due to busy weekend! Sat spent 3.02 to upgrade car insurance for new car, Sun NSD. Sat doing budget now and housekeeping is balanced, envelopes and emergency funds empty as both balances had to go towards the carConfused but will get them back to proper position when I get paid next week. Other than that,nothing to report!!

Possiblyorange · 10/03/2014 15:49

Ooh, have just listed my first item on our local FB selling page! It's a pressure cooker so would be a PITA to sell on eBay as so heavy. Hope someone makes an offer and takes it away. So hard to choose a reasonable price without the self-setting prices of eBay, but I checked similar finished item prices on there and subtracted a bit. My current eBay listings are up to £32 with the first couple of listings finishing tomorrow, fingers crossed for some last minute bidding!

Badvoc · 10/03/2014 16:39

I have sold my fridge freezer! And am hoping to sell my slow cooker too!
:)

ishesingle · 10/03/2014 17:48

Afternoon all! Bit of a low spend weekend here, food top up on Saturday, including wine :-) but only a 70p spend yesterday (coffee at sons sports match) which was good. Today I spent £3.65 on milk and ebay postage.

Feeling proud of myself as I usually give all meat leftovers to the dog and I realised that was wasteful. Over the weekend this included 3 sausages and quite a bit of chicken. So tonight I have made the kids a sausage and chicken pasta bake and they said it was yummy (had mine with tuna). Determined to reduce my food bill!

MissAnnersleyismyhero · 11/03/2014 00:11

NSD today, thank goodness! After booking emergency travel Home (£140) and paying £118 dental fees I won't be able to clear the last of my debt (£722) this month though it should be down to about £222 ...from next month I'll be able to help DH more with his cards, then we should see some traction as we'll be snowballing the debt together.
He has a meeting on Friday to discuss the interviews for his promotion, the interview will be on 1st April (!!) so plenty of time to prepare. It would be a lot more money, less commute and free parking but also much longer hours.

Possiblyorange · 11/03/2014 09:48

MissAnnersley it will be so satisfying to start snowballing the debt together once yours is paid off.

Ishesingle I bet your dog is feeling short changed! Sounds like a great way of saving money though.

Spendy day seems inevitable today - I want to get the older DCs a present from the new baby to give them when I'm in hospital, and need to order a present for DC2's birthday at the end of the month so i don't need to think about it again. Haven't quite decided what to get for any of those things, but am aiming for the whole lot to come in

Thebluedog · 11/03/2014 11:36

Myself and my DH now having standing orders for the 3 cc'd we have. We are paying 10 quid over the current min payment (this should go up once we are both back in work).

I checked my cc statement today and noticed I haven't used it this year Grin so I'm feeling quite virtuous (well maybe not that much as we still owe 17k on them Confused )

puffylovett · 11/03/2014 11:37

My NS weekend went out the window on parking charges for A and E visits for ds2 (4) who broke his arm on Saturday. So I'm about £30 over budget :( and I just bought a Gilet as I have no suitable coat type thing for this beautiful spring weather! It was in the sale though, and I am currently beating myself up about buying it, which is a total first for me!

Veggies - I want to make an asparagus bed. We would eat it every day but its extortionate. They are one of the most delicious things to grow if possible!

ishesingle · 11/03/2014 15:58

Sold a bunch of stuff on ebay last night, still waiting on music magpie but I reckon my "buy a tv from unearned income" fund is now at around £175 - in less than a month Grin

However, I spent £20 on a Powerline adapter on ebay for DS2 - the wireless connection to his room is awful and I already have a pair of Powerline adapters running DS1's connection so wanted to expand the set to 3. Cannot believe how expensive they are! At least I found a single one for sale, most go in pairs for £50+ Shock

Apart from that, got my first payment today from moderating my first school - £124 after tax. Have about 12 schools and amounts will vary but I am well pleased as this starts my holiday fund - yay! GrinGrinGrin

ishesingle · 11/03/2014 16:00

Puffy - awful about your DS's arm - is he coping ok?

themoneyone · 11/03/2014 16:02

Isn't it amazing how a couple of days of careless spending royally messes up ynab? Only a couple of quid here and there but nothing tallies! Exciting evening ahead...
Yay to the tv and holiday funds Grin

themoneyone · 11/03/2014 16:06

And yes to the arm puffy. Hope all ok.

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