It’s been over six days since I made an entry into my debt diary and over that time I have come to the following conclusions:
- We are a total of £39,648,54 in debt as of the 11/10/13.
- There are a total of 33 creditors we owe money.
- We spend too much money on food.
- We have wasted so much money in the past.
- Denial won’t make the bad stuff go away.
- Facing your troubles head-on is the only way.
- Putting on a jumper is better than having the central heating on.
- Value coffee isn’t that bad!
- We want to get married.
- It is possible to make a family meal for less than a pound.
- Family are the most important thing in the world (I sort of already knew this).
- Being 35 doesn’t feel any different to 34.
- Lists are our friend.
- We want to have another baby.
- We need to increase our income drastically.
- Material things don’t really matter.
- You can run out of tears.
- It is easy to put on a brave face for your children.
- Being positive really does help when the chips are down.
- I am more grey than I was this time last year.
- There is hope for the future.
- You can have nothing but still be rich.
- There is nothing wrong in wanting a better life.
- People who judge you need to look at themselves first.
- There are some truly wonderful people on this earth.
I didn’t set out to make a list like that today but then I don’t normally plan what I am going to write about.
Our lives have changed drastically over the last few weeks. Instead of running away from things, we are facing them head on. We have more clarity than we did.
There really are some truly wonderful people in this world – people we know personally and people we have never met. It is because of all these people that things have been a little easier.
There is so much to do and organise but I am going to make a really bold statement, a statement that I want you to hold me to. I am going to be debt free in within three years! There you go, I’ve said it.
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Actually, I am going to make it a little more than three years. Let’s say by the date 01/01/17 we will be completely debt-free, happily married and hopefully another beautiful son or daughter in our arms!
I’m excited just thinking about it. I want to start right this second!
I also go back to what I have said previously. With hard work, determination and belief you can achieve anything and that is what I intend to do.
So what do you think? Can we achieve this? Am I biting off more than I can chew? What advice can you give us?
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lesleygcooper says
Had a quick look at the blog for pasta sauces. These are the first things that spring to mind, any good?
http://wp.me/p3MXF5-ih. Carrot houmous, would make a good pasta sauce, can be made with or without tahini, good in sandwiches too
http://wp.me/p3MXF5-f7. Pasta with tomato and soft cheese with olives 37p a serving, maybe with some salami, 4 little sticks £1.29, one would give enough flavour for 4
http://wp.me/p3MXF5-ao pasta with broccoli pesto, 28p a serving. Sounds strange I know, but it tastes GORGEOUS, and can be used in sandwiches or on toast too
And how about a Sunday lunch that has all the trimmings but no meat, 57p a serving
http://wp.me/p3MXF5-gH
Hope you like one or more, plenty more ideas there
Lesley
Skint Dad says
Hi Lesley,
Thanks for these. They look really appetising!
David says
I’m intrigued – does the total debt include a mortgage of any sort? If so you’re doing bloody well! That’s a tiny mortgage amount.
Skint Dad says
Hey David, No it doesn’t. Just lots of unsecured debt that has built up over the last 5 to 8 years. Debt that will have been pretty much in denial about as well!
We rent which is our biggest outlay. There is no chance of us buying until we clear the debt and save a substantial amount for a deposit.
We will get there. I am sure of it!
ontheupmum says
Hey Skint Dad, impressive list, so, have you thought about approaching one of the (free) debt management companies – Stepchange for example? they will talk to your creditors and help you get interest frozen and arrange manageable payments. This, I think is your first step, check out Money saving Expert threads for more info.
I owe around £20k but this is manageable on my, now, reasonable income. do you have a spare room? I have always rented mine out for £300 and have had excellent lodgers.
I also spend too much on food, well, wine if I am honest!!
good luck on this latest part of your Journey, I shall be checking in to see how you are doing and to see if I can learn anything from you!
My approach is “cut back without going without!” so, books from the library, maxing coupons and vouchers etc and being really, really tough on my family for wasting electric (“It’s like Blackpool illuminations round here” – that’s my new battle cry/nag!
Also little things like half dosing with washing powder/liquid – small things can make a difference.
All the best x
Skint Dad says
Hello, we did look at approaching Stepchange but decided to self manage the debt. This way we have complete control and can decided where the money goes first.
I am already a avid user of MSE, I actually have a debt diary over there as well which mirrors my blog. Some helpful and encouraging people on the forum.
I am totally with you on the “cut back without going without”. Since cutting back on our food budget we are actually eating better by cooking from scratch and trying different recipes.
Katherine says
Hi,
I’ve just found your blog (via tots100 on twitter) and think its great – really well written, and well done for being honest about where you are right now.
I follow another blog http://www.frugalqueen.co.uk/p/our-story.html which is a bit like your story, but this lady cleared 45k of debt in 2 years through a Hugh a,punt of determination and hard work. I thought I’d pass it on in case you haven’t seen it.
Apart from that, good luck and stick at it, you will get there xx
Anonymous says
Hi,
I know where you’re coming from. We have had a drop in income over the last few weeks and it just dawned on us how much money we waste and how close to the bone we had been every month in the past.. We have done as you have, meal plans, shopping lists etc. I think the most satisfying thing is that when you decide to make changes the feeling of controling the situation is empowering. You don’t have to roll over and take it.
I wish you all the luck in the world on your journey and hope that you can make all the good things that you want, happen in your future.
Vicky says
I just want to wish you all the luck in the world. You have taken a huge step in just facing your situation. It’s much easier to stick your head in the sand than to take control and take responsibility the way you are. Set yourself some ‘stepping stone’ targets along the way. Pick a financial goal for this time next year. Pick a target date to get under £30k. And then when you hit your first target, make another goal, and then another. And when you hit those targets (which you will!) – celebrate!! Arrange a pot luck or game night with family and friends. Give yourself a moment to acknowledge that you’ve worked hard and sacrificed to meet that goal, then move on and focus on your next target. It’s a hard road, and you will have set backs along the way – it may be necessary to re-evaluate your goals from time to time; that’s OK – re-evaluate, re-focus and move on. You CAN do this and, when you finally reach your debt-free life, it will be worth every bit of hard work! Good luck!
Annie says
Hi, found your blog through Martin Lewis tweeting it. I’m 26, My partner and I live with our parents and after saving really hard we have just had an offer accepted for a house. Sounds fab in theory but my mind has now turned to the worry of finally having to live on our own, pay out own bills n cook ourselves as well as paying the mortgage. None of us have amazing jobs but we’ve done the maths and it should work…. Yes I say should, I worry a lot about the unexpected costs that crop up, I’ve not slept properly in the last few weeks. But, we’ve been together 8 years and figured life won’t wait forever for us and we needed to take the plunge. I agree I’m fortunate to be in this situation, but the future scares me…a lot. All the what ifs, and with children to think of-eventually. It makes me anxious!
I’m following your blog now for the hints and tips of how to save money and still live a life, and not let money worries bring you down. We want to have kids and get married in the next few years and can’t rely on bank of mum and dad anymore. I really hope this all works out for you and wish you the best of luck. You’ve started your journey of success, and I look forward to following it with you and hopefully swapping tips aswel as just taking them from you. Your blog is inspirational, thank you.
P.s I really want to try those pizzas they look fab!