Russell's 'New Leaf' Spend Less, Make Money, Pay off Debts Diary

rustysmart · 13 September 2009 at 5:58PM

A bolt of lightning hit me this morning - I need to sort myself out! Now that's nothing new. I know I have debts. I know I spend too much. It's historic. I suppose because I have had it since college that I accepted it as the norm.

But today is different. I don't know what it is, maybe it's because my birthday is coming up or maybe Christmas on the horizon...but I need to sort something out.

So, I hoping to document here in this blog as a form of evidence for me to look back on.

Day 1: Been looking on the MoneySavingExpert website to see where I can get extra money for the things I already have, rather than cut back just yet. Don't get me wrong, I know the cut backs need to happen and they will, but what can I do today to start making a difference.

I've tried eBay before and got to the point where I just have junk that won't sell so I'm using the musicMagpie site to sell my old CDs - net total £24.44 - not gonna break the bank, but it's £24.44 I didn't have this morning.

By the end of the week (Day 7 hopefully) I want to have updated my footer with info of my debts so I can face up to what I have, along with ways I have clawed a little bit back.

Here goes...wish me luck!! :beer:

BEAT_THE_DEBT · 13 September 2009 at 6:04PM

Good Luck:beer:.
Well done on music magpie its all money!

rustysmart · 13 September 2009 at 10:48PM

Spent most of my afternoon sorting through some old books. Like my CDs I have some books that probably wouldn't sell on eBay due to their condition or the fact that they may not be well known enough.

Well... after listing 25 items (more to be listed tomorrow) two have already sold! I guess I will only get a couple of quid from Amazon once fees are taken, but alls good!!:j

rustysmart · 13 September 2009 at 11:05PM

May need to sell a few thousand more books after working out my total debts!! Well at least I'm facing up to things, it's the first time I've seen it written down like this. The good thing (if there is one) is that my credit cards are on 0% - may need to way up loan situation to see if there is a lower % out there, but one step at a time!!

rustysmart · 14 September 2009 at 3:43PM

:j3 book sales within 24 hours equals £7.03 in the pocket (well, paying off debt). These small amounts are seeming worth it at the minute, but I am sure I'll be grateful when I see the pounds dropping off!! What I have got clear in my head this time is that the 'extra' money is not going towards spending money - instead I am transferring payments direct off of cards etc. :T

rustysmart · 15 September 2009 at 4:39PM

Clearly my early methods of making extra money will not break the bank, but what should I do with the earnings (currently £30)?

I imagined paying amounts off my credit card in chunks (currently on 0% interest), but my wife has suggested putting it in savings and let it mount up. Then maybe I could pay off one of my loans earlier (obviously not with £30, but in time!!).

Suggestions fellow moneysavers would be greatly appreciated. :rolleyes:

rustysmart · 19 September 2009 at 10:12PM

Well that's another book sold for the whopping total of £1.81. Apologies to those who started to read this blog thinking it would be exciting!!

Thought to ponder for the next few days - should I quit the gym? I've not been for a while, but I really enjoy it when I do go. I get it for corporate rate which is £32 a month and practically the cheapest in town.

Option A: I give it up and save this amount every month
Option B: Find a cheaper gym, possible to do but may not be as local as current gym (the council do a 'pay as you go' option but this isn't cheap)
Option C: Stick with current and try to go more often

HELP!!!

wannabedebtfree_2 · 20 September 2009 at 1:05AM

Could you give it up for now, but take up running instead? OR, just pay the £32 but make sure you are getting your money's worth, go every day!!

I get the gym for free at work, so I use it 3 times a week (when I am motivated - not used it at all so far this term!!) but as of wednesday I will be back in there again!

Good luck with the debt free journey!

rustysmart · 20 September 2009 at 5:52PM

well I've decided to quit the gym! whilst I don't think I will regret it, I will rejoin if I do end up missing it!

That means £32.50 I can put into savings every month - meaning I can pay off my loan earlier. I've decided to opt for that option as the credit card is on 0% so it seems for beneficial at the minute.

rustysmart · 27 September 2009 at 5:36PM

My ebay ended today - that's £20 I didn't have in my pocket yesterday! What with the ultra exciting odd book sale here and there my savings account is looking £200 better off. As I'm equating this to loan payments, that's nearly two month earlier I can repay one of my loans.

I have weighed up paying overdraft / credit cards off first, but I have already transferred those to 0% accounts so doesn't seem worth it just yet.

Will update signature soon - hopefully may look a little rosier!

missymoo81 · 27 September 2009 at 5:50PM

hi ya hun just read your diary, well done on having your lbm and for doing something about it, I had mine last week and my mind set has already changed.

And like you I decided to quit my gym last week too, I have a cross trainer at home and there's no reason I can't use I think I'm just used to the fact of having a gym membership although I barely use it.

I'm also putting money into a savings account for my debts, but I am going to over pay my debts at the end of the month with it. But that's because I have a really high APR.

You're doing really well selling stuff, it's what I want to do, but haven't got around to it yet, but even if you're making a small amount it's all money to come off your debts hun.

You do sound super motivated and I'll be reading with interest.

speak soon

missy

Russell's 'New Leaf' Spend Less, Make Money, Pay off Debts Diary

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