Debt support thread #2

[Nerfmother]

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

nope its not a lot. Fuel is 20-30 per week. Dam easter holidays and agency work!

Well.
That went ok.
We have talked about what is coming up in the next few months, how much the kitchen is going to cost (this is coming out of the isa) and what we need to budget for...
The sad part is that we have zero money left after budgeting for things like car tax, mot, b days, Xmas, school uniforms, trips....
Deeply depressing :(
On the plus side we have been spending less on food than I thought - and I am sure I can get this down further :)
It really is the only thing we can cut down on...we do have cable tv but it is our only luxury and the kids would leave home if we got rid of it :)
It will take 3 years to pay off the loan - and this coincides with the end of our 5% fixed rate mortgage so hopefully that will go down (!)
Dhs attitude is that we aren't doing too badly. I sort of know what he means...we have 2 young dc and have been a 1 income family for a decade so it's not surprising we have no money at this stage in our lives....it's just a bit depressing isn't it?
There is always the possibility I may go back to work at some stage in the future too.
I have put some stuff on FB selling pages...so that might bring in some cash.
Dh has something to go on e bay.
Good luck miss a x

Badvoc We've just done ours and are exactly the same. It is really, really shit. I work such long, crazy hours that it would be nice to think we could do the odd thing like go out for my Dad's birthday next week without worrying about it, but no. I realise this situation is of our own making, but this month, after all outgoings, we will have £3.50 left, and that's only if we stick rigidly to the food budget. This will not be helping us to hit the debt in the way we want to.

Have already shaved a lot back; if we go further, it will be to really cut birthday and Christmas spends. I think needs must, but it will be very, very tough to do.

Feeling SHIT today now .

Yes, me too :(
Add to that a nightmare of a month in April...b days, Easter, new kitchen (oh how I begrudge every penny I spend on this damn house!) and I feel very very low about it all.
Dh doesn't see it the same as I do. Can't understand why I am so down about it all.
Sigh.

Badvoc and Kinky
hang on in there
it does get better
you are both doing far far better than the thousands of people who are still in denial about their debt.
Declutter all you can.
Make the kids aware of the phrase "We cannot afford it" they will respect you for the honesty and start to learn NOW the habits that will stop them ever getting horribly in debt.

Talk...yes. My dc already know that there are some things we just can't afford.
Luckily, they are easily pleased :)
I am opening ds1 (10) his own bank account with his b day money this year - that way he can start learning how to save and budget - and if he wants a DVD from amazon he can pay for it himself :)

I think it's good for children to know about not affording things. My boys know this and are not demanding at all. They save birthday/Xmas money, do jobs for pocket money, and give me things to ebay for them so they can boost their funds. When their friends get the latest iphone or whatever they just say it's a waste of money (DS1 is still using a 3GS with a very smashed screen). Own bank accounts from very young helped them to understand the value of money. Natwest lets them have a debit card from age 11 which has been great.

Hope everyone has had a good week.

In the great scheme of things, I'm doing well. This week I spent £48 over and above food / petrol / bills etc. That's good for me - just a couple of months ago most weeks I was spending closer to £400 on top of essentials.

I've decluttered loads on ebay, but I've got fed up of that now. Too many people who don't bother to pay, or think its acceptable to pay 2 weeks later without asking before they bid, or emailing to say they bid by mistake (I think this happens when people get into a bidding war and realise who much they went over their 'max' price). It has caused me so much hassle I'm not doing it again.

Hopping on to say, everybody keep your chin up! It WILL get better, just keep on keeping on :)

Am hoping to pay off CC1 next week - fingers crossed!

I am living with a maxed out overdraft, quite literally forcing us to live with no back up/wiggle room - all spare funds to debt. It is very much an eye opener!

I am not looking forward to our next set of debt repayment though. We have decided to pay down CC2 rather than our overdraft, and that is say at about £4700. It's going to be a bit of a demoralising slog I fear :( as it will take us to September to pay it off. We have decided no holiday this year other than camping or staying with my sis in order to achieve this. Both boys have agreed they would rather forgo this years holiday in order to go skiing next year bless them!

Ps sorry for not replying to everyone one to one. I'm on my phone and find it v difficult to remember what everyone has said

Well, I have sold £25 of stuff on FB!!
:)
That's my sils b day gift paid for.
Just a couple more things for sale on there now.
Dh has put something on e bay that could make over £100 - fingers x

Yay, well done Badvoc!

I had an auction end an hour ago too and got £31

Excellent! :)

Ok am trying a nc back - no one ever ' 'spoke' to me !
Paid 200 off dhs cc even though this month is already a nightmare (April) - even with the vouchers from currys I think we will struggle to replace the oven.
Had a moment yesterday and bought a work blazer. Dh agreed as it replaces one I have worn a lot and works as a cardigan as well, but I still feel like I'm justifying myself.
Good news - the cc I transferred to has 0 interest on purchases til June so my heavy work expenses this week (unusually so) will go on that and then be paid off once reclaimed and not incur charges.
Sorry a cple of you are having wobbles .
I have OCD and saw someone to help, am using some of that thinking to address my thought processes about debt - not sure how transferable it is but it seems to work!

Aw, Nerf about people ignoring you!

I think it's just the keep on attitude. Last time I was paying debt down (DD's cancer threw the spanner in the works on an epic scale) I had about £500 each month to chuck at it; this time I will struggle to overpay by £10. It's very, very frustrating. But, the budget is set and we will just keep moving on with it.

YNAB/Envelope system fans - DH and I set one up yesterday. How much do people budget for clothes; house expenses (as in needing a new...) and birthdays/Xmas? What do people spend on these things?

Thanks Kinky - weird isn't it? Think I'm too used to my nn.

I'm going to have to look at YNAB I think.

Awe Nerf, bless you, we'd never knowingly ignore you...not had 5mins to catch up properly! DH payday tomorrow so can make next round of payments...1000 off OD I think is going to be a stretch. I'm tempted to do it anyway and just cope with what I have left. Have my emergency fund to cover me, so don't know where my nervousness is coming from....hmm.

Anyhoo, spendy day yesterday...26 for pick mix meat pack from local farm shop and 3 for a huge bag of potatoes...some great meals for the plan this week! Slow cook chicken today, casserole with leftovers Mon and soup from carcass Tue...

Happy Mothers Day!!

Kinky - for gifts, I sat with the calendar and a calculator and worked out how much I spend on gifts per year and then divided by 12. Was a bit shocked that it was £40 per month, although that included £100 each for DS1 and DS2. In month 2 of YNAB I've had DS2 plus several other birthdays, so had to budget more, but going to try to do £35 a month from now on and slightly reduce what I spend on people.

Clothes - haven't budgeted anything yet and trying to get straight in other categories, and haven't needed anything. Am trying to leave £30 in clothes in April though as I will need some summer work clothes in a month or so. Big clothes expense for me is annual uniform shopping so currently putting money aside for that @ £40pcm but that's in "Boys shared expenses" (costs shared with ExH) along with annual sports subs etc, which all come just after August uniform shop.

Nerf - I am YNAB's biggest fan, do try it out, it's great! Start of a month is a good time.

I want dh and I to start using it...I will ask him for it to be my Mother's Day gift to me to set it up :)
It's amazing how much you spend on gifts when you sit and work it out.
Last year a we spent about £300 on getting boys their school uniforms, coats, stuff for school etc.
Sold something else on FB! So that £35 now :)

Hey nerf :)

Yep, about £300/£350 here too. DS school changed their uniforms last year, there was a year's changeover period so got new style for the eldest and youngest has been in all his old-style handmedowns. So this year I'll have to get DS2 the whole new uniform and sports kit. Luckily it's split 50/50 with the ex but I tend to buy and he pays me back... eventually. I try to do a shop the last week of the month and present him with a bill just before payday so he has no excuse. One year I had to put a load of it on a credit card and then ExH asked to pay me back in 3 month instalments because him and his new wife were paying for overseas expensive holiday. I was fuming! Told him he could pay the bloody interest as well and rang the CSA. He paid up for the uniforms pretty quick!

for answers so far.

Not doing YNAB; DH has apparently being concealing some wicked Excel skills, so has set me up a spreadsheet. I am very pleased about this as it involves him far more in the process.

Uniform is definitely a big expense, and all the sets of shoes/trainers.

My present bill is stonking - on a restrained budget it came in at over £100 a month! That did include birthday party money though too. Too much - I need to frugalise this.

Hmm DS starts school in Aug...I've budgeted 100pound...too much/too little?!

Mum2fergus, you will need :
Book bag - 8
Jumper x 2
Cheap pack shirts from Asda
Pe shirts and t shirt
Shoes - 35 if Clark's
Lunchbox
Trousers at least 2
Grey socks