The end is in sight

A question about : The end is in sight

Seems like a good time to start a debt diary as the end is in sight.

So, some background, following a seemingly amicable separation 6 years ago I was left with a lots of debt, foolishly, in my name and the promise of payment and also some money towards our household items (I left with nothing) and half the cost of the divorce.

All this time on, I haven't seen a penny and have has some fairly abusive messages about chasing the ex for money, but I am now (DIY) divorced and remarried and I know I have to learn to let that go (He is still up to his ears in debt and living off credit cards, so this gives me a little glee).

Following the separation I lived, for very low rent and living costs with my brother and his wife, which was a godsend. I know through this whole journey to being a debt free wannabe, how fortunate I am to have had the support, financial and emotional of family and friends.

A brief financial respite whilst lodging with my brother WOULD have been the ideal time to seriously pay down some debt, but, no, of course not. I didn't getting any further into the hole, but repaid minimum payments only and kept up with my loan and spent 18 months going out and visiting friends and getting myself back on track mentally and emotionally (that's my excuse, and I'm sticking to it).

Eventually my brother and his wife wanted their marital home back (is this starting to sound like one of those radio tales with the violin music in the background?) so I moved into a colleague's granny annexe, re-kitted out myself with the minimum I could, new mattress, basic kitchen items and got on on my own.

Disaster. The car blew up, I had higher mileage and I just didn't have enough coming in to meet what was going out and, finally. Sense took hold I and refused to put the extra on a credit card.
So, a Saturday job on the checkouts for the summer helped keep my head above water then a live in warden job came up through work, a rent and bills free position that meant giving up every other evening and weekend to look after university students in halls.

So, that's what I did, for three years. Dealing with student crisis at 3am, getting on first names terms with the local A&E staff, informal counselling and some very good laughs with my co-wardens (and on occasion the students themselves).

I started serious budget planning with my trusty spreadsheet at the centre of my universe. Whilst I didn't always chuck a load of money at the credit cards every month, I did more than I didn't and I know I could probably be debt free now if I had, but I still maintained a social life, got to see friends and family around the country and gave myself some breathing space.

I got re-married, with a wonderful budget wedding. Not exactly shoe-string but a whole day for 150 people cost Ј1500 and I became the DIY bunting bride who was immensely proud of her Ј40 wedding dress (all clothes and accessories eBayed afterwards).

Now the new husband and I have set up home, keeping our finances separate and I'm paying off all I can each month and I like to think a least keeping my nose above water a few years ago, meant by credit score wasn't totally down the toilet, so the recent Barclaycard 29 month interest free has meant consolidating and cancelling three separate cards and keeping the Tesco card for groceries to be paid off immediately (for the points).

My spreadsheet goes up to the end of 2015, so if I spend Ј5 now, I can see the impact it will have in 18 months' time.

Best answers:

• Is this how it works? Do I 'reply' to myself?
  Well, that's the background done with and I know there's an element of 'woe is me and my lot' in there, but I made the debt, I don't expect anyone else to take it one for me and I know how fortunate I am with the way my chips have fallen.
  So here's where I am today
  6 monthly loan payments of Ј222 left to pay - plus, and I'm an idiot for not doing this sooner, PPI to claim ("you need it to be approved for the loan").
  Ј750 fee-free overdraft
  Ј2750 recently consolidated credit cards on 29 month interest free Barclaycard
  And, um, bad me, Ј150 just on the Tesco (groceries ONLY for points) credit card after a trip to London, which I am kicking myself for, but I have adjusted the Spreadsheet of Wonder to take into account clearing that in the next few months.
  I'm paying of a little more than the minimum on the Barclaycard at the moment (as it's IF) with the target of clearing the overdraft, which I pay interest on, and saving for a new bed as I am currently sleeping on a bag of spanners disguising itself as a mattress and my back and sleep pattern can't take it anymore.
  Ideally I would be debt free before I start spending, especially on such a big item, but it's not going to 'cost' me anymore, only time and I'm getting too old to be missing out on sleep.
  I've sold my car and subscribed to the work bus pass scheme (public transport in Cornwall, everyone should try it just once). I menu plan like a fiend; batch cooking freezing; generally boring people silly about it.
  The Spreadsheet of Wonder predicts that I will be DEBT FREE (and well rested after many good nights' sleep) September 2015.
• Been reading some incredible stories on here this evening and can feel empowered and motivated by so many.
  It's strange, whether it's Ј50 or Ј50k debt, if you are working to be a DFW big huge pat on the back... and possibly discounted European supermarket bottle of prosecco.
  I do admit to getting a bit 'judgy' reading DF diaries. How can people seriously not go a day without spending. I haven't spent a THING yet this week... Except for two Ј7 supermarket visits and Ј2.97 to my sister's Just Giving account as the total wasn't a round figure and it was bugging me. THAT snapped the elastic in my judgy pants, good and proper.
  I worry that now the end is in sight I'll lose momentum, get distracted, think it's ok to be a bit slap dash (like the recent trip to London) and really hope this 'anonymously public' airing of my financial laundry will keep me on the straight and narrow.
• Hi SP,
  It sounds like you're doing great - I look forward to reading more and good luck with everything x
• Desperate in a 'new girl wants to show off how fab I am' for a spend free day and even though I've been accounting for all my pennies for a few years now, just inputting it into the Spreadsheet of Wonder, doesn't always STOP the spending.
  Today won't be spend free. Long standing lunch with a friend is booked in.
  I find myself saying "ah yes, it's ok though, because..."
  "Lunch out, it's ok, because I usually buy a box of oatcakes and a tub of supermarket own soft cheese for a week's worth of lunches."
  I have factored the lunch into my budget, so it's not an additional spend, but by 'confessing all' here it's brought to light a behaviour pattern I really recognise in myself.
  I may start, not only counting up down the debt, but counting up the 'buts' (*snigger*, honestly, I'm such a child).
• I need a spreadhseet of wonder!. You must be super clever to be able to create something like that.
  Well done on having your LBM & creating a plan to end the slavery of debt.
  I too have a mid 2015 end date & also suffer from random spending.
  I will be following you.
• Thanks quidsy.
  Not sure about 'super clever' (if I was, I wouldn't be in this debt), it's just a simple formula that adjust the money available. I have all my planned expenses (including groceries and spending money - these running totals for the month then get each spend in that category taken off them so I can see how much I've got left for each) set up for each month. It shows each 'transaction', bank balance and funds available (to take into account my overdraft).
  If, for example, I overspent by Ј50 this month and in three months time it would be beyond my my available funds I've set it up so it changes to red and I can, ideally not spend it in the first place, or make necessary adjustments.
  That probably doesn't make a lot of sense, not easy to explain. I would include a screen shot of it, but have no idea how to insert images (if it's even possible)!
• Lunch yesterday had a budget of Ј20 and came in at just over Ј11, hurrah.
  I like to over budget for non-certain expenditure eg a night out, so there's no danger of overspending and quite often I haven't used the whole amount. I also like to take the cash out for things like this as cocktails + bank card = DANGER!
  Was nice have some coins jingling in my purse, but then I had to buy a flash drive for work, so it's gone - I will be able to claim it back though.
  The kettle blew up on Sunday morning - Easter Sunday, so NO shops open and before first coffee, it was VERY traumatic. A bit miffed as we had a toaster and kettle set bought from a supermarket (own brand) in the January sales 2013 but it was in the 'bottom drawer' until June when we moved in together. So while the receipt shows it's over 12 months old, it's not been used for even 11 and both have died recently.
  The grill will do instead of a toaster (which wouldn't take full size slices of bread and crumpets had to be pulled out) and I collected a new Russell Hobbs kettle from Tesco yesterday. Very happy, as redeemed Clubcard vouchers so a Ј20 kettle only 'cost' Ј3.50 of actual money. We got a Ј100 vacuum cleaner a few months ago and thanks to vouchers that was only 50p, yes, FIFTY PENCE of real money.
  Yummy Lime and Elderflower cider was on offer too so...
  Planning for today to be spend free day. We have bread and milk in for the weekend and other meals are menu planned, so there is no excuse for spending!
  Tomorrow is Porthleven Food Festival, which I'm planning to cruise around trying lots of samples without parting with much money.
  Each payday husband and I have a 'treat' meal. We've moved on from fish and chips to putting together our own tapas, so I'm hoping the Food Festival will have some new yummy things to add. That will, however, be an advance on the budget for the payday meal treat.
• Hurrah, mobile phone bill day today. Budget = Ј30. Bill = Ј28.02
  Is it weird that Ј1.98 can make me so happy?
  Also hoping my payslip gets sent out today as curious to see what the change in tax threshold will do to my wages. Different calculators I've used online have it anywhere from Ј2 to Ј20 a month more.
  I know, I can tell you're on the edge of your seat too!
• I think so - it goes up to Ј10k for the 2014-15 tax year, so this month's pay packet I think/ hope???
  I'm a public sector worker but I don't know if the 1% is automatic or I have to wait and see if my employer sees fit to pass it on.
• Ј12.68 a month better off.
  My Ferrari is on order!
  Spreadsheet of Wonder updated for all wages until December 2015.
• I think it's late enough to call it.
  Spend Free Day.
• Well, the food festival was a complete washout. Driving rain, howling winds and giant waves splashing up over the harbour. Still, we wrapped up and stomped about for an hour then came home. Real shame as looked like there were lots of interesting stalls, but they had all their wares covered up from the weather and those in the main marquee were unreachable as so many people sheltering from the weather.
  On the upside, it meant I didn't spend any money there apart from a block of butter from the supermarket out of loose change in my purse, so very nearly a spend free day, particularly from my bank account's point of view.
  Blankets, films and hot chocolate for the rest of the day, all free, although have just popped the heating back on for a couple of hours.
• Shame about your festival washout but blankets and hot choc sound fab.
• Hi SP
  Definitely claim the PPI back. I have done this successfully once and now trying to do it a second time. (Why didn't I do this sooner?!)
  Enjoy your free cosy day
• Lots of TV catch up and hot drinks yesterday. Lovely and relaxing.
  Today is a 'real money' no spend day but I have spent Ј7 from my PayPal account, winning two breakfast bar stools on eBay. Just off to Falmouth to collect. Very happy with a bargain and less dinners on the sofa, hopefully.
  Digging out the loan paperwork this afternoon to start PPI claim tomorrow. Am a little cautious as it is a joint loan with my ex, although I am the 'lead' name on it and it has only ever been paid back by me, from my bank account, so am hoping that won't cause difficulties. What in actually hoping, if I'm successful, is they write it off against what I still owe but would be FURIOUS if the money had to go to us both.
  Don't even know how that would work, as I have a different surname now.
• Doing great-keep it up.
  Enjoyed reading your Diary today.