Who else is up for saving/debt clearing in 2010?

[Flame]

I start each year with good intentions then it all goes wrong.

By the end of the month I'll have accurate numbers (tax credits etc) for our monthly income next year and I can recalculate our budgets.

We have to move next September, so rather than focussing on debt wiping, I need to have saved enough for deposit, movers, deep clean and possibly paint to redecorate (in rented and DS has trashed it ).

It should be easy due to under 1 tax credits bonus (breastfed and cloth nappies so she isn't costing much yet!!), but supportive thread always works wonders

i will join in too. 3k overdraft to clear. not sure where to start really, we have a budget but always overspend. clearing it this year im determined

I'm in. Not in debt but need to save hard I am hoping to save quite a bit this year as I am fed up of money coming in and then flying out on stuff we don't need again.

Oooh Mousey you're good aren't you?

(Tis Flame btw).

I'm thinking May bank holiday there are always DIY sales aren't they - so will buy paint then.

Deep clean... I may see if MustRunMore wants to come visit she loves cleaning, as does another friend - the three of us could probably do it.

Moving - I was talking about it to Psychomum the other day and her neighbour was round - neighbour's DH used to be a removal man and has all his stuff still, his mate has the van, so we will get help for a very reasonable price

I have set up the DD to savings for the £200 (plus the £40 we already had going in to cover birthdays throughout the year)

I have worked out all our activities costs (gym etc) spread across the year, and have the monthly amount going into a separate current account so I can use that instead of worrying about having enough in the main account.

Car accident settlement came through - we managed to have a very comfortable Christmas with it (no worrying about meals out, takeaways, buying gifts), and I've cleared £600 off the £1600 credit card debt. I've also increased our DD to that by £30.

Come October tax credits will take a sharp drop (the under 1 bonus will disappear), so I am trying to clear as much of the debt (and sort the money to move) NOW whilst she isn't costing money and we have more coming in.

Agree completely with everything SunBurntTats says.

Get an excel spreadsheet set up. Write down all your incomings and outgoings (look at bank statements) so you can see clearly how much you should have and when. Then write out what you ACTUALLY spend for the month every day. It is much easier to cut back when you can see where it disappears. (If you take out £10 cash, then you have to write down where all of that went).

If you save £200 a month, will that be enough to clear everything Flame/MNK?

Im also aiming to up my income by £200 per month. I also have another family starting with me (Im a CM) in two weeks. So Ill add that, minus tax and expenses, into the savings account too. If I can do that, I may have doubled the amount I was saving in last few months of 2009. (Still dont know how may days a week, so not sure how much ill be earning from it)

If anyone is interested, I read a great book a few years back called your money or your life. No, not the annoying man with the bowtie. Its by Vicki Robin and Joe Dominguez. Some say its a bit hippy, but it worked for me. Ive been tracking my savings on a chart and its v motivating. Can write more about it of anyone interested (not the whole book, obv, just the chart bit) You could fiddle it so its about clearing debts rather than what it was originally intended for.

yeah i'm up for it as well. want to go to full time Uni next sept (if not this sept) which means I need to save as much as I can do. (ie paying off debtss as well)

have already said to mum will be giving her £10 per week for next years xmas club. (esp as this is the time DS's legs have a mega grow )

Ooh that could be good Mousey I should be able to do another £100 again, but I don't want to commit to that until we have done a month or so.

Feeling very positive about this year - just hope it goes how I want.

Keep up the positive thoughts MNK!

January will be the hardest - all those sales on stuff you dont need will tempt us all (tis why I havent gone anywhere near town!)

If you are a lucky sort of person, and have some free time, what about comps? Try for stuff like holidays, cash and things that would make good gifts. You can get autofill programs that will do most of the tedious work for you (like filling in address) Do set up a seperate email address just for comps tho.

In line with the YMOYL book, what about drawing up a graph (I prefer paper, as I find it more absorbing than working on a graph on pc!) Put each month, starting with december 09, on the horizontal and increments of £50 or £100 on vertical. Then for December 09 mark current debt+goal savings. Each month, mark new amount left to save/pay off. Looks scary at start but within 3 or 4 months, it will be v motivating as the line goes down so sharply!

I should be getting a £95 tax rebate!

Ok, so I'm getting a £10 tax rebate... £85 on new battery and fitting for the car

Yippee! Job Centre have FINALLY accepted that I'm entitled to contribution-based JSA. That should help!

Seriously, dealing with them has been a nightmare

It's only taken 3 months to get this sorted out!

I haven't actually received anything yet, but I now have contact with a senior person there who is on my side, accepts they made mistakes, and says he it should get processed and it'll be backdated too.

We have been really struggling. If I wasn't intelligent and confident (i.e. I know my rights and I pushed for it) I would have given up trying to get CJSA long ago. I expect a lot of people do.

In the meantime however the car got towed (£260) and DP needs dental work (£150).

Can't be bothered to add it up, but not much of a dent into nearly 6K debt then, but certainly a start!

You got your money yet lowrib?

How's it going for everyone so far? I think we're doing ok

Thought I would resurrect this thread to see how everybody is doing