Debt update- January/ February 

Its payday for me today which means that we had our budget meeting last night. I thought I’d write down all the things that have happened in the last few months with our money to try and see the progress! 
First up confession time… In a time of weakness near the end of last year we booked to go to Florida on holiday. I was fed up with trying to clear our debt and getting nowhere, we’d also been trying unsuccessfully to start a family for a while and just wanted a break. So the long and the short is we agreed to go on this very expensive holiday. Since that point its caused some stress because we don’t have all the money to pay for it and we actually don’t want to increase our credit card or loan debt.

So we sat down to discuss what we wanted to do about it all. At the moment we pay £300 a month to our loan. The idea has always to make overpayments but this never seems to happen. We also had around £200 on a credit card. This was the sum of our debt excluding our mortgage as we said in our original post at the start of January: 12.5k 

After much discussion we’ve reassessed the moneys we hold and where best to use it. I think we have it in our heads that we want to have savings which is all well and good but why have all this debt and savings?! So we’ve decided to wipe out pretty much everything cash wise apart from our emergency and sinking funds. There are still some areas we’re contributing and keeping money in. Both of us have pensions with our companies and we’re continuing with those. Husband also has sharesaves with his company that we put money too every month. This means we still have some long term security. What we’re ‘cashing in’ is my shares options and extra money that we had put in our emergency fund. 

By doing all that it amounted to us having the 2.5k we needed to pay for the rest of our holiday, we were also able to make a January overpayment to the loan of £1600. Now at the end of February we’ve been able to make another overpayment of £350. Including our regular payments that means we’ve paid just over 2.5k to debt and takes us to £9913 left to go. Assuming that we never pay another overpayment them that makes our debt free date December 2019. Far too long away for my liking! 

Now we have been blessed with a few things that make it more and more likely we can make overpayments each month. The first great thing about February and March every year is we don’t pay council tax. That immediately means we have almost £400 that should go straight to debt. The second thing is I’ve been able to increase my hours at work. So instead of 20 hrs per week I now get 32 hrs per week which is amazing. The last thing came happily just a couple of days after NY contract increase and that was a pay increase starting in April. This means that taking my extra hours and extra pay into account that we should be £400 better off each month. Now not all of that can go to debt- we weren’t making enough with me on 20 hrs to really cover everything- but we should be able to pay at least a couple of hundred pounds over each month. 

Last thing (sorry this is such a mammoth post!) is I’ve changed what supermarket we use, altered our meal plan to a healthier one and gone back to making meticulous shopping lists. This meant that I actually stuck to our food budget this month for the first time in a long time.

I’m exceptionally happy that we’re now under 10k debt, it does finally feel like we’re making progress. If everything goes to plan then we should actually be able to hit under 9k debt by this time next month..  We’ll see if that actually pans out though as we’ve been here before and always ended up with more debt…fingers crossed! 

Kimmy x

Sourdough and Mushrooms!

Its been an exciting week – our seeds have arrived for this seasons growing!! I am also off work this weekend so will have time to plan out where we’re going to plant everything. I want to start most of our seedlings at the start of February. The other new thing we’ve begun this week is our first ever sourdough starter.

This is definitely a year of firsts for us and trying new things in terms of growing and self sufficiency. I’m sure most other people have tried a starter at some point in their life but we hadn’t. This naturally means that I’m like a new proud parent and have been taking photos of it each day! 

Day 1- we started with a wholemeal flour and if it works I’d like to keep a wholemeal and all purpose flour starter going. 

Day 4- this is what it looks like today! I haven’t ever been so pleased to see bubbles in my life. The mixture is bubbling away nicely and has taken on that tangy scent since last night. 

I wasn’t confident that our starter would actually take off so I haven’t spent much time looking into what to do with it.. Until today. I have so far seen recipes for crisps, Pitta’s, waffles and pancakes. I want to try a foolproof recipe first though so will probably just start with a bread.

The other thing we received this week was our mushroom growing kits. We go through a ton of mushrooms in a year. I rarely cook a meal without them. They do however seem to be a bit fickle to grow. So for this first attempt we ordered some mushroom kits. They arrived on Friday and are currently progressing nicely through the first stages. Tomorrow should see the next step for growing them as we’ll cover the spores.

I’m excited to see if these will work however, unless they give an amazing harvest, it wouldn’t be financially worth it to grow them from scratch this way. Does anyone else grow mushrooms? Or have any tips for foraging them? I would love to be able to forage for mushrooms but I am terrified I will poison us! I’ve read a lot of articles and books on it but I still get worried when it comes to going out and getting them. This will maybe be the year to try it.

Anyway that’s what the adventures that the Arnolds have had this week =) its just going to keep getting busier we hope! X

My 5 things- trying to minimise!

This year husband has set me a challenge- to choose five things per day that I can give away or get rid off. Both of us have hoarding tendencies so its one of the hardest things he could ask me to do. Its also one of the best! I’ve agreed on the proviso that he do it as well.

We had a bit of a false start with him trying to convince me that a half empty water bottle counted as one of his five… There was also the simple fact of starting, its one thing to say you’ll do it and another thing to actually do it. 

It’s a simple fact for me that, much like a child, my possessions have never looked so appealing as when I’m contemplating giving them away. I have items that have been in a box since we moved into our house three years ago. When I take them out though all of a sudden they’re the most interesting thing I own. This means I’m spending a lot of time putting things in the charity box just to take them back out again. 

I’ve started asking myself these three questions: 

1- Have I used it recently?

2- Do I need it?

3- Would I want to pack it and take it to our homestead? (when we get it!)

Its the last one that’s the real driving force. I need to get away from being materialistic. All that will happen if I keep it up is we’ll spend our money on things and never pay off the debt. So I figure if I get better at giving my possessions away then I won’t want to replace them. 

Here’s a selection of what I’ve picked out so far. I’m currently part of a bartering group so for a lot of the stuff I’ve put it on there to see if anyone else can make use of it. In return I’m asking for goodies for my store cupboard- beans, tomatoes, puree etc. Its marginally easier for me to give things away if I can see they’re going somewhere they’re appreciated and useful! 

The hardest thing for me to even attempt to give away is books. I love books. I also own quite a few of them. Some I haven’t even read but I can’t bring myself to give them away. I would adore having my own library and want to include a reading nook/room when we get round to building . A lot of the books I now own are digital which has helped but you can’t beat having a real book in your hands. The books in the picture above are the only ones I’ve been able to give away so far.

As the days go on its getting both harder and easier to do. Its therapeutic once you start to give things away. I have found myself looking in drawers and cupboards that have been untouched for other items I can put in my pile. Its getting harder though because obviously the longer we go on, the more attached I am to the possessions I’m looking at. I gave up all the ‘easy’ things in the first few days so now I am onto the ‘what can I live without’. A very different question to what I actually need to live…

I think I’ve made a good start but my pace is slowing, I’ve exhausted nooks and crannies and I have to start giving up items I want!

Any tips on not being such a hoarder?! How did downsizing go for everyone else?