Debt Payers and Savers Support group

[QueenMummyToBe]

Hey I'm Ashleigh, have 3 beautiful children under 5.

I am hoping to pay off around £7000 of debt this year (angry with myself for letting it build up)
Money is going to be super tight until it is all paid off but I just think if we have a frugal year from then on we can save save save.
Hubby doesn't have the best health (has arthritis & ankolosing spondylitis) so it will be good for us to have a fair bit of savings incase he needs time off work in the future.

xxxx

Is your target £7k by 2015?

Yep that is my plan! I am the same as you with spreadsheets etc, it is like my sad little hobby lol

My Grandmas advice to me was if you budget x amount for something so for us our 4 weekly budget for food etc is £250, if you take the £250 out the bank (or into a different empty bank account) then every time you go food shopping (even just for milk etc) use the money/same bank account and keep your receipts in a jar then you know exactly how much you have to spend and you can look back on the month and see if you have any weaknesses.

Xx

 

[Jchihuahua]

Well my good intentions have already gone out of the window . Our car broke down on hubby's way home from work last night. The AA think it is the engine and a big job and took it to the garage and now this morning my oven has stopped working completely and I'm now waiting for an electrician so those costly things will have to go on the credit card I want to clear as I am on maternity pay so can't afford to pay any other way. Aaaargh.

 

[Blah11]

Ugh sods law jeanna hopefully it's not as bad as expected!

Ive added up Christmas gift money we have left that we haven't spent and have £225 so will be adding another 200 when I can get to the bank.

 

[aimee-lou]

Blah - wow that's a nice chunk to pay in. Always a nice feeling!

JC - Aw no! I hope it's not as big a job as they think, but I know the feeling about it just piling up. Hope they fix your oven too.

So far today not been too eventful. Waiting for my buyers to pop by this afternoon so I can add my takings to my total and I have a couple more things to put on tonight. I'm aiming to try to 'make' £5 a day. If I can do that, then we'll be sorted. I'm am however, running out of things to sell

 

[aimee-lou]

QueenMummyToBe - it is my obsession. It strrted in the summer when we had absolutely nothing and I had to make things stretch so far that I just kept on going. I've done my budget for this semester last night and I have £94/week to get my weekly shopping plus buy anything else that's needed. It's going to be tight but I think it's doable.....considering for the whole of June and July last year we lived on £42 a week for 4 of us!

 

[Natasha2605]

So hoping a thread like this will make me see sense of what we are doing to ourselves.

I'm Natasha, 22 , married. Summer is 3.5 and Maci is nearly 2.

We owe a lot of money. But are getting there. Although we have gotten into a stupid cycle with Wonga (!!!!) and now owe them £900 which will be spread out £450 this month and £450 next.

Each month to debts I pay :

Council Tax debt - £50 per month (550 left)
Santander Overdraft - £40 per month (150 left from £700)
Provident - £200
Littlewoods repayment - £50 per month (600 remaining)
Very Repayment - £40 per month
Various other Catalogues - £100 per month

That's a LOT of money each month just to debts. The rest of our money we squirrel away. Get takeaways whenever we fancy etc. We are SKINT by the time payday comes.

I next get paid of January 10th so our mission to clear starts then!

My first goal will be to pay off the Santander overdraft, coucil tax debt the littlewoods repayment by April. So thats £1300 of debt.

We will not be booking a family holiday until all debts except provident are cleared. (If we get one at all this year).

On that note, has anyone here done the Sun Holidays. Thinking about it this year to save some money. I don't mind not going abroad but OH wants to.

I just need to get good at keeping tabs on money. Spending it comes way too easily.

OH does Sharesave through work at saves £40 per month. This is our Florida money. That will mature in 2016 and we hope to go to Florida in 2018 when kids are 8 and 6.

 

[aimee-lou]

Natasha - welcome I've added you onto the list If you have a date in mind that you'd like to have stuff paid off by let me know.

That Santander one should definitely be your first target. £150 is tantalisingly close. One little thing, you mentioned take-aways. My hubby and I now do 'fast food friday'. We used to buy takeaways once a week pretty much, now we choose a different 'fast food' and cook it at home on a Friday evening. Really good fun and a fraction of the cost. You could then put the normal takeaway money in a jar and after a few weeks you'll have enough to get rid! Then that money would then go twards the other debts to get paid. It's a spiral you see and it's addictive lol

You OH needs to learn how good UK holidays are!!! Having not been on a proper holiday since before Earl was born this year we are going to Cornwall for 2 weeks in a large caravan for the same cost as a week in a cheap hotel abroad. We've gone for a couple of rungs up the comfort scale this time, but could easily have cut the cost by at least another £200. Hoseasons and things do a half term deals where you get 4 nights in a caravan or chalet for £99! Who could grumble at that?! I've never done the Sun vouchers but my neighbour has done the past 2 years and she said it's pretty good choice wise. To be honest, with small children, as long as it's got a playground and a couple of places like the beach and arcades, it's a winner in my book!

Wonga are the best of the bad bunch. We used them last year when you got into trouble and we had to extend the term twice in order to pay it off. Cost us more in the long run, but at least we got clear.

Thanks for joining everyone. I'm actually very excited about this year. Yes, ok, it's going to be hard work, but I'm determined to achieve my goals. Keep up the PMA everyone xxxx

 

[Jchihuahua]

I've done my budget for this semester last night and I have £94/week to get my weekly shopping plus buy anything else that's needed. It's going to be tight but I think it's doable.....considering for the whole of June and July last year we lived on £42 a week for 4 of us!

That's impressive! I am currently on a weekly budget of £120 a week which is for our food, pet food, electric and petrol at the moment and finding it really difficult. The weekly food shop is impossible to get below £70 and then we always need top ups of bread, milk and fruit . One of my dogs is on a special diet due to his allergies and that is costly too. I would love to get the weekly budget to £100.

 

[weewdy]

I've done my budget for this semester last night and I have £94/week to get my weekly shopping plus buy anything else that's needed. It's going to be tight but I think it's doable.....considering for the whole of June and July last year we lived on £42 a week for 4 of us!

That's impressive! I am currently on a weekly budget of £120 a week which is for our food, pet food, electric and petrol at the moment and finding it really difficult. The weekly food shop is impossible to get below £70 and then we always need top ups of bread, milk and fruit . One of my dogs is on a special diet due to his allergies and that is costly too. I would love to get the weekly budget to £100.

Just wondering if you meal plan before you do the shopping? Also i paid for online delivery for 3 months (£15 from asda) and i have cut my bill by £20 per week because im not lifting things i see in the shop and because i live 20miles from nearest asda it saves on petrol money aswell.

 

[lau86]

Hi, I have been stalking a bit and would like to join? I really dislike admitting to myself how much debt were in!!
We are at that stage now where things are not too tight and were in the repayment stage rather than the build it up stage and that's where I'd like it to stay. My debts are around £8000 from a credit card and old student loan, I pay off around £180 per month to those at the moment. I also have a £2000 overdraft but just trying to prioritise the debt at the moment. I don't know what kind of state hubbies finances are in either but I suspect not great. We pay our bills together but apart from that everything is separate. I think now is the time to discuss combining all our money, salary and debts and each just have a bit of spending money. I get the feeling this is how most couples work?
Anyway thanks for reading I was just thinking aloud!
So I guess my goal for this year is continue to chip away at the debt £180 a month and not build up more debt whilst on mat leave.

 

[Natasha2605]

Natasha - welcome I've added you onto the list If you have a date in mind that you'd like to have stuff paid off by let me know.

That Santander one should definitely be your first target. £150 is tantalisingly close. One little thing, you mentioned take-aways. My hubby and I now do 'fast food friday'. We used to buy takeaways once a week pretty much, now we choose a different 'fast food' and cook it at home on a Friday evening. Really good fun and a fraction of the cost. You could then put the normal takeaway money in a jar and after a few weeks you'll have enough to get rid! Then that money would then go twards the other debts to get paid. It's a spiral you see and it's addictive lol

You OH needs to learn how good UK holidays are!!! Having not been on a proper holiday since before Earl was born this year we are going to Cornwall for 2 weeks in a large caravan for the same cost as a week in a cheap hotel abroad. We've gone for a couple of rungs up the comfort scale this time, but could easily have cut the cost by at least another £200. Hoseasons and things do a half term deals where you get 4 nights in a caravan or chalet for £99! Who could grumble at that?! I've never done the Sun vouchers but my neighbour has done the past 2 years and she said it's pretty good choice wise. To be honest, with small children, as long as it's got a playground and a couple of places like the beach and arcades, it's a winner in my book!

Wonga are the best of the bad bunch. We used them last year when you got into trouble and we had to extend the term twice in order to pay it off. Cost us more in the long run, but at least we got clear.

Thanks for joining everyone. I'm actually very excited about this year. Yes, ok, it's going to be hard work, but I'm determined to achieve my goals. Keep up the PMA everyone xxxx

I think because I grew up on foreign holidays and OH grew up on UK holidays that now he thinks we should go every year whereas I'm not too fussed. Although I did just find a cracking deal for 2 weeks all inclusive in Majorca at a Splashworld hotel for £2100, so we shall see.

We just need to decided ground rules and stick to them. Budgets, strict meal plans etc. Maybe we can discuss that tonight and promise a holiday if we can stick to plans.

I hate Wonga. It's too easy. I could afford to pay back the £900 next week but I'd probably then go on to borrow again in February. So not worth it. Plus I hope by slightly damaging my trust rating with them I won't be able to go back.

Catalogues I need to start closing as I pay them off. We had 3 paid off in October but started using them for silly things.

 

[aimee-lou]

Hi, I have been stalking a bit and would like to join? I really dislike admitting to myself how much debt were in!!
We are at that stage now where things are not too tight and were in the repayment stage rather than the build it up stage and that's where I'd like it to stay. My debts are around £8000 from a credit card and old student loan, I pay off around £180 per month to those at the moment. I also have a £2000 overdraft but just trying to prioritise the debt at the moment. I don't know what kind of state hubbies finances are in either but I suspect not great. We pay our bills together but apart from that everything is separate. I think now is the time to discuss combining all our money, salary and debts and each just have a bit of spending money. I get the feeling this is how most couples work?
Anyway thanks for reading I was just thinking aloud!
So I guess my goal for this year is continue to chip away at the debt £180 a month and not build up more debt whilst on mat leave.

Yep, we have a bills account where all the money initially goes. I then divvy up the money to pay bills, into the joint account (spends account for shopping, extra purchases for the house etc) and to hubby's personal account. He has expensive hobbies so it's easier if I can just say that's what he have spare rather than him asking for money all the time. He has been working P/T and all his wages bar about £100 in December (went a bit mad at Christmas lol) he keeps.

Definitely talk about it thoroughly, then make sure you know who has responsibility for what, then move forward. You need to both know what the plan is, and work in the same direction, otherwise it'll just keep getting undone.

Have you worked out what you owe and how long it'll take to repay to see if you can prioritise things?

 

[highhopes19]

I love uk holidays cornwall is our fave place beaches are beautiful and there's plenty to do for little ones, would deffo not rule it out hun . We stayed at hendra in newquay in a brand new luxury caravan at the time they had a deal on and it was £400 for a week it was lovely x

 

[Zizzle]

Ladies, to get to my target iv budgeted £100 a week on food shopping etc. This means I can save a good chunk and pay a good amount of debts off at the same time. Any cheap recipe ideas? I spend too much at the mo!

 

[aimee-lou]

Ladies, to get to my target iv budgeted £100 a week on food shopping etc. This means I can save a good chunk and pay a good amount of debts off at the same time. Any cheap recipe ideas? I spend too much at the mo!

Who do you have to feed with that £100?

My tip is to meal plan, meal plan, meal plan!

My hubby thinks I'm nuts - I'll sit and write out every meal (including snacks for the kids lol) and then write my shopping list. It helps me to know what I'm cooking when and what's in the cupboards.

Other tip is slow cooker! They are awesome and save lots of time and money (can use cheaper meats/no meat for meals and they can last 2/3 days! ).

 

[Zizzle]

Two adults and a 4 year old (id like to include DS school dinner money in that (£11). My problem is I do shopping daily... Works out so much more expensive.

I need a new slow cooker, I went to get ours out of the cupboard and dropped and smashed the lid might ask for one from my dad for my birthday!

 

[Natasha2605]

Two adults and a 4 year old (id like to include DS school dinner money in that (£11). My problem is I do shopping daily... Works out so much more expensive.

I need a new slow cooker, I went to get ours out of the cupboard and dropped and smashed the lid might ask for one from my dad for my birthday!

You can EASILY feed two adults and LO for that amount. Meal Planning is a godsend and stop shopping everyday. Those £20 a time really add up. I'm out of the habit of meal planning for the week but have just wrote ours for the next week.

I can easily do a weeks food shop on well under £50 a week for four of us, breakfast, lunch and dinner and loads of fruit and veg.

I find it helps me to do a bigger £50 shop on payday. I buy nappies, wipes, cleaning stuff and any jars/ tins or cupboard food I buy. I buy bigger packs of fresh meat and split it into two or three meals and free them in portions, ready to defrost later into the month.

Once again, I'm discovering that organisation is the key.

 

[QueenMummyToBe]

My hubby thinks I am crazy because I write lists of what we already have in and then try to make as many meals out of it as possible. Then I cross it off the list

Xxx

 

[tasha41]

Hi ladies! I want to join..

Trying to pay off my MasterCard (I have about $900 left to pay) ASAP (definitely by the end of the summer).. racked it off just by being stupid and then I'd pay some off and be out of money and have to use my credit card again.

I'm also trying to save about $2500 towards renovating the bathroom by the end of the year, I have $300 so far.

I just have to be better with money in general though. I'm trying!

 

[amazed]

I would like to join I've managed to sort all debts they just all come out my bank weekly the thing I want to do is build my savings a d also the kids soooo

My savings account would like to save around £1000 by next year ivesaved. £4000 in it last year so hopefully I can I put £80 a week in it (all my child benefit goes in weekly of £80)
The kids I have a sealed pot for my 4 kids and put £1 a day in then will put into there account jan 15
I would like to save around £1000 in my pot of dreams by next year I save £5 £2 and 50ps in that pot

Xx