A thread for people trying to pay off debt?

[moneyworries8]

Would there be any interest in this?

I'll start us off. I'm 30, a SAHM with 2DC.
Our debts are:

£4,000 loan that we've been paying off for 6 months.
£2,300 on a credit card

The debt is manageable but I've had the realisation that if something doesn't change, these figures are going to get bigger and bigger. I know it's a hard time of year to start but I don't believe in "waiting until the new year!"

We could post on here for advice/support as well as sharing our successes (and failures, but hopefully there won't be many of those) with each other. I feel like I need some people to help keep me on track.

So, is anyone interested?

Hi

I’ve had a pm from raegenb trying to get me to join a private club that will eliminate my debts for a payment of £550. I’ve reported it to mumsnet and I suggest if anyone else gets one they do that too, this person is preying on vulnerable people and I’d like to think no one would fall for it but you can’t be too sure.

OldBrown
Yup, these threads are the only debt club folks need.

Cucumber
Congratulations all around

pansy
I would suggest step change.
Economising with 5 kids will be tough, but for their sakes you have to do it.

@OldBrownShoe yep I've had messages from the too.

@TalkinPaece step change couldn't help us because dh is self employed.

I’ve had messages too but no trying to sign me up for anything. I haven’t posted for a while here either, all the security breaches put me off.

Good to see some new people tackling their money worries - not good you have debt of course but it takes guts to face it.
I am STILL waiting for my remortgage to go through, still no sign of a completion date. I have chased the s

Sorry posted by accident!
I have chased the solicitor but they're never in a hurry are they?
On the plus side I have paid more off my old mortgage than I would have done so that will be a bit extra to either pay off debt or save.

aleC4
Solicitors are never in a hurry until you point out that you'll start billing them for YOUR time

Talkinpeace that's a good idea! I emailed again last night asking for a completion date but heard nothing again today!!

So, insurance claim is going ahead following the storm damage to my roof. Had yet another person out to take photos and measurements this morning. It honestly has made me feel like I'm some sort of criminal the questions they asked. It was almost as if the latest person didn't believe me and asked if some had been to strip the roof! felt really annoyed as it is genuine and the effects of storm gareth. I'm in an exposed area. Good news it's going ahead but don't like how it's made me feel.
Otherwise, things are going ok, just a knock back in that I need to pay excess so not as much paid off as planned for.

coffee
its their job to be cynical
do not take it personally

So I e spoken to cab this morning. After going over our income,outgoing and priority debt, they've told us we have £197.51 surplus. When I calculated it it was £42 over what we had.

There's no way we have that much. Last month our washing machine broke and cost £250.

My daughter hurt her eye and I paid £30 for an examination at the opticians. My won't broke his leg and I paid £10 for plastic thing to go over his cast so he could shower.
I've spent £20 on mouse traps this week.
We paid £35 to the council for a pest controller.
I had an op two weeks ago and my dh paid £20 parking.

Dh pays £8.20 a day for parking at work.

I bought new duvet last week for dd because I burnt hers in the tumble dryer that cost £12.

Ds is going to Thorpe Park tomorrow (he doesn't go on school trips. And hasn't been anywhere since July last year) £33.

Fence panels broke in December £160.

None of this taken into consideration. Not the money I owe to friends and family too.

Dh might of earned more than 50k last year that means child benefit will stop.

Feeling like crap today 😩

Hi Pansy,
I'm sorry about the CAB, but your post shows where you can save money.

Why are duvets in the tumble drier?
(a) they rarely need washing
(b) disconnect the tumble drier to save yourself £4 every time you run it.
Only wash what is dirty, not just because stuff has been used.
Use an airer or a line to dry stuff

Mouse traps - mice are there because there is a food source.
Blitz the kitchen. Get rid of all food that is not in sealed containers (old icecream tubs are useful).
Ideally massively reduce the amount of sugary food in teh house (biscuits, snacks etc) as then there will be less to attract mice.

DHs parking - can he car share ? Could he cycle? Is there cheaper parking with a bit of a walk?

Fence panels - freecycle / gumtree not new

Why did you pay £30 for an eye exam ? if it was needed, the GP would have done it.

If your DH is on £50k its your spending not your income that has to change.

Check out the frugaleers and see how much you can save.

I know what you mean Pansy we should be in surplus every month in our billing/joint account but something happens. Every. Single. Month that stops that from happening. Even though we have spreadsheets aplenty and try and build in wiggle room. This month it's the roof. Unexpected bill to have tiles removed and bird comb put in (we found a starling in our attic!) £332 🤦🏼‍♀️
We're able to reduce our disposable income to top the joint up but it's extremely annoying.

BTW if your husband is about to break the £50K salary he should look into increasing his pension contributions to bring him down to £49,999 pa. you'll need advice but it might be very worth it.
Child benefit only reduces after the £50k mark. Gone by £60k.

@TalkinPaece it was in the tumble dryer because I had to dry it fast on a rainy day.

There is 7 of us I need a tumble dryer. I do between 20-25 loads of washing a week. And I do use a washing line but that's no good on rainy days.

The mice are in the bathroom under the bath. We've not had them anywhere else in the house.

Nope he can't car share he works all over with the nearest place being 50 miles away.

The fence panels were second hand and a couple were new. Plus had to pay to get them put up.

The eye exam was needed. She was hit in the eye with a shoe, doctor couldn't see anything wrong with it and said to take her to the opticians for a more thorough check if she was worried. After days of seeing black dots she was worried so I took her to see an optician.

50k sounds a lot but is it a lot for a family of 7?

I do between 20-25 loads of washing a week
You need to join the frugaleers.
I grew up in a family of seven. My mum never had a tumble drier.

If the mice are heard under the bath, clear all food - they will be eating elsewhere

Eye exam - sorry but you should have gone back to the doctor, not spent £30

You NEED to reduce your consumption of energy and clothes and everything
only then will you be able to live within a frankly well above average salary

50k sounds a lot but is it a lot for a family of 7?
It was your choice to have five kids. You need to make your finances match that decision.
Your DH earns more than about 70% of the country.

@TalkinPaece we had 5 children when we could afford it. Two wages and no debt!

There isn't any food for the mice!

The eye exam was needed. Thats my child and if I can't get her to see a doctor than I will pay whatever to get her seen to!

You NEED to reduce your consumption of energy and clothes and everything
only then will you be able to live within a frankly well above average salary

I'm sorry, but we don't go on holidays, we don't buy clothes often, we don't smoke/drink or do drugs. I have a washer and dryer because I need them! What people did with their big family's years ago is irrelevant here. I'm sure if they could of had a tumble dryer they would of!

I need help/advice too please!

Currently have two outstanding phone bills all together just under £1,000 I'm pretty sure these are stopping me from getting a current bank account and possibly even renting 😩I have no credit cards ect and my clear score is extremely low, how can I save and bring my score higher?

@SciFiScream sorry to hear about your roof. It's a bloody pain!

BTW if your husband is about to break the £50K salary he should look into increasing his pension contributions to bring him down to £49,999 pa. you'll need advice but it might be very worth it.
Child benefit only reduces after the £50k mark. Gone by £60k.

Thanks I'll look into that.

Pansy
Okidokes, but somewhere along the line you are burning through the cash
and if you want to stay heads above water you need to rethink your spending
25 loads of washing a week is MENTAL
nearly three per person ......
Unplug the tumble drier and make your kids start to walk more lightly on the planet.

midnight
£1000 of phone bills will not stop you getting a bank account.
Something else is going on.
And landlords do not look at credit scores.
Ignore the credit score, look at the whole of your finances.

Hi I posted on here briefly a while ago but I can’t remember under which user name...
Anyhow for anyone struggling to work out where there general spending goes I’d recommend the hsbc connected ap. it tells you how much you spend in different stores, how much you have less to spend at any moment when bills are accounted for. I’m finding it quite useful to see just how much we spend on groceries etc

Pansy, I agree with TalkinPaece 25 loads of washing a week is mental. Poor you. What a drain.

It's expensive because of the laundry products you'll be using
It's expensive because of the electricity that's needed
It's an expensive use of your time! (See note below) Your time has value.

Is there anyway you could gradually cut that down? Maybe finding tips for that would save you money and time?

Family of four here, no tumble dryer. Sporty, different interests (so different uniform requirements) I do an average of 4 loads per week.

Our fuel bills (gas and electric) are less than £60 pcm. How much do you pay?

If you put an hourly value of your time on laundry (sorting loads, loading, unloading, drying, potentially ironing, putting away) how much would that cost you? Let's say 10 hours at £10 ph - that's £100 per week!

@SciFiScream I know it's mad! But that's just it with big family's, 6 lots of bedding to wash each week, dog and cat beds each week. 7 people equals a lot of washing with football kits too, it's just how it is. Most of my time is spent doing washing.

My gas and electric is £60 a week.

pansy
I was in a family of 7
you do NOT need to be doing that much washing each week.
Towels - every three of four weeks tops
Sheets - ditto
Duvets - once a year
School uniform - once a week
Non school clothes - after four wearings
Dog and cat beds - WHY ?
Sports kit - yup I get that one
But seriously - you can save yourself a LOT by stopping washing stuff for the sake of it.