It's not a lot, but it's enough

SpekySquarehead · 11 April 2016 at 9:38AM

Good morning,

I had a busy weekend however managed to keep spending to a minimal.

Friday was my cousins wife's 30th birthday party in which I spent maybe £30, plus £15 on her present and £4 on fancy dress. Which, when trying to get out debt is still £49 that could've been saved, however it's a huge reduction on what I would have spent 6 months ago and I still need to live life.

Saturday my friend has an important boxing match as mentioned previously, so all the boys got together to watch and support him. £10 for dinner (as my friend won a chunk in the grand national and paid most of the bill) and probably £30-£40 for the remainder of the night including a taxi home.

Sunday was a NSD and I went to the gym for a leisurely swim, steam room and Jacuzzi which always helps to focus my mind on my immediate plans. Spent the night with my GF catching up on TV and had a lovely family dinner. I had another YNAB seminar on managing you credit cards so I feel super motivated to save.

The £4.99 trousers I bought in the M&S sale were collected on Saturday too and I'd go as far as to say they're the best pair I have!! Comfortable and stylish, very impressed.

Need to buy some milk, otherwise it'd be NSD (damn!). I'll check back in tomorrow.

SpekySquarehead · 12 April 2016 at 9:00AM

Went to the supermarket yesterday to buy for the week ahead. This should mean that I won’t have to spend any money until Saturday or hopefully Sunday!

My money to do list;
- Sell stuff on ebay
- Sort HTB ISA
- Buy YNAB

Aiming to get all of these done soon, although I’m still on my YNAB free trial for another 3 weeks or so.

Have a good day!

SpekySquarehead · 15 April 2016 at 9:16AM

Been a busy man since I posted last, but I’ve not forgotten about this diary.

I was offered a ticket for the Old Firm (£28) which I couldn’t turn down. No fan of either side of Glasgow could. I can afford it, I’ve money still budgeted in YNAB for things like that, so it’s relatively guilt free. I’ll need to keep a cap on other expenditure on the day to make sure it doesn’t snowball.

I racked up 4 NSD’s this week, with the other 2 days for silly things like milk. You hear of shopaholics who love spending money, I’ve now trained myself to love not spending it. To lie in my bed at night knowing I spend not a penny during the day and I didn’t have live under a rock for the day, I’m still working, going to the gym, seeing friends, spending time with my GF etc.

Speaking of YNAB, I’m still getting to grips with it. The balance on my YNAB was different from my bank account, however it seems to be down to me withdrawing cash. Still need to get a better understanding of it. It’s only been a couple of weeks, need to give myself a break.

I’ve also created a to-do list to tackle on Saturday which includes ebaying stuff, bet I don’t get round to it.

Lastly, as part of the NST Challenge on here I was forced to do some sums which was great to see;

How far have I come?

At its worst = £3,979.73 (December 2015)
Currently = £2,920.66
How much have I paid off? £1,059.07 (in 4 months)
Percentage; 26%

I can honestly say I couldn’t have done it without this website, having this diary and the support from various other threads. Quarter of the way there in only 4 months!

enjoyyourshoes · 15 April 2016 at 9:41AM

Hi
good luck with the journey.
Get saving with the help to but ISA great plan.

Spend 30 seconds daily keeping a running total for your bank account (font rely on the balance they give you as there are always items 'pending' !) Also account for every CC purchase against your bank account, thus when the bill arrives you pay it off immediately. (this doc can be as simple as a hand written extension to your monthly bank account summary or an excel doc whatever gets you going really.

Spend 30 minutes each month consolidating bank balance with your own daily sheet. Also check your annualised bills and any DD are still current and the best value. Use MSE for the advice on best value.

Another 30 minutes.annually plan your major expenses (annual like car insurance (don't pay monthly as they charge your interest), rates, utilities, life insurance, MOT car etc) Then do a cash flow to calculate how much you need to save monthly in order to pay for all this known stuff, then set up highest interest account and DD this amount from your bank account (and accrue for this each month with your spreadsheet/pen and paper). Diarise when there payments come to end and plan a month before to use MSE to get the next best deal and amend your cash flow when you have renegotiated the next deal.

So its 30, 30, 30 !
30 seconds daily reconciling your seeping
30 minutes monthly reconciling bank account Vs your daily check
30 minutes annually getting the big stuff sorted.

Then in-between all that, work out what you want to get from LIFE, and work out how your £ will get you there. Set this as a clear objective (SMART--, measurable etc etc), write it down, tell your Mum and Dad, tell us on MSE. This commits you. And live the dream within your own financial envelope debt free. Start benefiting fro compound interest instead of being chained by them.

Make sure you don't spend on your 0% CC, and set up DD to pay off balance in full before the expiry of the deal.

endoftheostricheffect · 15 April 2016 at 10:00AM

Hi SpekySquarehead!
Ive just started my debtfree diary too! And too am in the 20's! Changes afoot!
Well done on starting you journey! Ill be here- and subscribed!

SpekySquarehead · 15 April 2016 at 10:25AM

endoftheostricheffect wrote: »

Hi SpekySquarehead!
Ive just started my debtfree diary too! And too am in the 20's! Changes afoot!
Well done on starting you journey! Ill be here- and subscribed!

Thanks for looking and welcome!

I found setting up a diary really helped motivate me to save as I’m publicly displaying what I spend, when, how much, why etc. That openness and vulnerability has encouraged me to really watch what I’m doing on needless spending.

In our 20’s we still need to live life! Which is why I don’t grudge spending money on nights out etc.

All the best in your quest to become debt free. I’ll also be following!

SpekySquarehead · 18 April 2016 at 1:08PM

enjoyyourshoes wrote: »

Hi
good luck with the journey.
Get saving with the help to but ISA great plan.

Spend 30 seconds daily keeping a running total for your bank account (font rely on the balance they give you as there are always items 'pending' !) Also account for every CC purchase against your bank account, thus when the bill arrives you pay it off immediately. (this doc can be as simple as a hand written extension to your monthly bank account summary or an excel doc whatever gets you going really.

Spend 30 minutes each month consolidating bank balance with your own daily sheet. Also check your annualised bills and any DD are still current and the best value. Use MSE for the advice on best value.

Another 30 minutes.annually plan your major expenses (annual like car insurance (don't pay monthly as they charge your interest), rates, utilities, life insurance, MOT car etc) Then do a cash flow to calculate how much you need to save monthly in order to pay for all this known stuff, then set up highest interest account and DD this amount from your bank account (and accrue for this each month with your spreadsheet/pen and paper). Diarise when there payments come to end and plan a month before to use MSE to get the next best deal and amend your cash flow when you have renegotiated the next deal.

So its 30, 30, 30 !
30 seconds daily reconciling your seeping
30 minutes monthly reconciling bank account Vs your daily check
30 minutes annually getting the big stuff sorted.

Then in-between all that, work out what you want to get from LIFE, and work out how your £ will get you there. Set this as a clear objective (SMART--, measurable etc etc), write it down, tell your Mum and Dad, tell us on MSE. This commits you. And live the dream within your own financial envelope debt free. Start benefiting fro compound interest instead of being chained by them.

Make sure you don't spend on your 0% CC, and set up DD to pay off balance in full before the expiry of the deal.

For some reason I'm just noticing this post, thank you! Some very helpful advice there which I will definitely take on board.

SpekySquarehead · 18 April 2016 at 1:25PM

Catching up from weekend, so here it goes.

Friday – I looked over my YNAB and compared that to what is in my bank and they’re out. Can’t figure out why so I’ll start a fresh at the end of this month. I was invited to a charity dinner which was all paid for, however it being a charity do meant I felt obliged to put in £10 for the raffle plus taxi’s there and back was nearly £20. In hindsight, I should’ve gave it a miss.

Saturday – A relaxed day nursing my sore head. Bought some items from SM to tide me over for the week ensuring my spending is minimal.

Sunday – Old Firm day. I would recon I spent £25-£30 (excluding ticket). Had a great day with my friends so was well worth it.

Today I stare at my bank balance of £76 and the £65 I have in my wallet. If I allow for £40 to fill my car up with petrol at some point this week that’ll leave me plenty. I have an engagement party on Saturday however it’s my GFs turn to buy the gift. I’ll take out a set amount and make sure I don’t over spend.

With 10 days till payday, I’m going to say in black in white I’ll aim for 6 NSD’s. The three days I intend to spend are today (forgot my lunch), tomorrow for a trip to the driving range, petrol on Thursday for trip to Loch Lommond and Saturday for the party.

Steerpike88 · 18 April 2016 at 2:17PM

Hey, just read your diary. We used to live in Glasgow until I was 25 then we moved to NZ. Hate it here, but I don't live in a big city. Moving back to Scotland at the end of the year.

In general your wage doesn't go as far in NZ because of expensive food, clothes, household goods, etc. But if you're ok with your money anyway and like a quieter (MUCH quieter) lifestyle then it's really lovely here. Running a car is much cheaper though! :rotfl:

endoftheostricheffect · 18 April 2016 at 2:18PM

Hope you enjoyed your weekend! Well done on planning the spendy days!

It's not a lot, but it's enough

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