Monday Money #187 Debt Awareness Week

It’s Debt Awareness week this week and Ill be sharing lots of content throughout the week on all things debt, how to pay it off, the mental impacts of debt, the feelings of getting out of debt.

I wanted to share this very first post I wrote back in 2017 when I came clean about my personal debt story. By this point Mrs Mummypenny had been established for four years, I was embarrassed to admit that I had a debt issue that felt out of control. I was a personal finance expert I shouldn’t be in debt. But I was. 16k of it.

The Cost of Living Crisis grows in terms of outrage from fellow personal finance experts this week. I was on BBC Five Live on the school running slot talking about how we can talk to out children about finance, bills going up and having to say no to buying things for the children.

We as people who help with money management are running out of tools to offer to people. How do you cope with an energy bill that is £200 more a month when you were only just managing before the increase. The result I’m afraid is debt, within a few months, the worse is yet to come when this debt becomes unmanageable.

Spring Budget

Wednesday this week will see the Spring budget being announced by the chancellor. The government have to make some changes to put more money back into our pockets again. More than the £150 council tax credit that is happening early April. I am writing an article this week for The Mirror on the impacts of this on the family. Im hopeful for some good news.

Last week I wrote about energy and water freebies and gadgets to help you to save money for The Mirror. How are you finding my articles, are they useful?

Last Week Spending Diary

Last week was a child free week and I was out about meeting various friends. Its my birthday at end of March so March is a great excuse to go out and celebrate with social events as much as possible, big 45 years.

I went for lunch and a walk around Grafham Water. Beautiful blueness, a day full of the joys of Spring and our first sighting of a butterfly!

Saturday was bottomless bubbles brunch in London with a friend. It was £35 for food and prosecco, an amazing deal! And they were very generous with the prosecco, our glasses were constantly topped up. I recommend Yuu Kitchen for a weekend bubbles treat.

This did mean that a chunk of money went on eating out, £130. Another £130 went on groceries, mainly a Sunday shop to prepare for the boys coming home.

My Sunday was a perfect Sunday, I went to the gym for a long cycle and then yoga class then went to cinema to watch The Batman. Saving as always with my Kidspass, where I got my ticket for £9.

In total I spent £300 last week, mostly food spend. Hurrah I managed to go for a whole week without needing any fuel.

Overpay Your Mortgage with this new app

I shared a review of the Sprive mortgage overpayment app last week, and shared that I had made my FIRST EVER mortgage overpayment of £74! This app makes a manual process super simple and automated, it uses the auto saving approach to build up a monthly saving that you can then transfer over to your mortgage. I love it.

And if you download the app and use my referral code MUMPENNY you will get £5 for free applied to your Sprive savings.

iOShttps://apps.apple.com/gb/app/sprive-mortgage-free-faster/id1504836142

Androidhttps://play.google.com/store/apps/details?id=com.sprive

Read my Review post of Sprive here

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Lynn Beattie

Aka Mrs MummyPenny

Personal Finance Expert

I write about personal finance made simple, lifestyle choices that will save you time and money, as well as products and services that offer great value.

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