Learning to budget to make future adventures happen

mummytogirls · 25 October 2016 at 8:47PM

Loving the new diary and you're enthusiasm Crunchy :T

Also loving the term 'debt hangover' this is so accurate!! xx

Seasidegal58 · 25 October 2016 at 9:32PM

Yay on the execution of the credit cards!:beer:

kirtsypoos · 25 October 2016 at 10:18PM

Happy new diary Crunchy

Well done on cutting up the CC - onwards and upwards with your new plan!!

Cailbhinn · 25 October 2016 at 11:20PM

crunch_time wrote: »

That definitely the plan! The big start happened today....

I CUT UP MY CREDIT CARD!!!

:money:

Unless you're mental like me and can remember all the numbers. Just call me rain man!

-taff · 26 October 2016 at 6:32AM

Well done

I have to say, I'm not suggesting you buy YNAB or anything like that, just that that paticular system works for me. Another thing I didn't know which may sound obvious to most people is that it's an envelope system, again, as I never really budgeted before, just tracked what I was spending, I'd never even heard of envelope system, although my mother did have a jar system

....For knowing so much about some financial areas, I'm totally inadequate when it comes to budgeting knowledge

crunch_time · 26 October 2016 at 7:19AM

-taff wrote: »

Well done

I have to say, I'm not suggesting you buy YNAB or anything like that, just that that paticular system works for me. Another thing I didn't know which may sound obvious to most people is that it's an envelope system, again, as I never really budgeted before, just tracked what I was spending, I'd never even heard of envelope system, although my mother did have a jar system ....For knowing so much about some financial areas, I'm totally inadequate when it comes to budgeting knowledge

I've tried enveloping and again......cant seem to stick to it!

I have a free trial with YNAB for a month so will see how that goes.

Crunchy xx

crunch_time · 26 October 2016 at 7:31AM

Morning all

Its nice to wake up and feel I don't have a credit card anymore. Although I do have it linked to my amazon account. Dangerous. Will sort it out but in my head I don't have a credit card anymore so ...no worries.

It really was a daily struggle to control it for perceived 'emergencies' and opportunities.

Everything I need is within me now.

So I have done a draft budget for November. Husband gets paid on Friday and then I will get paid on the 19th. We have some extras this month to pay for so I'm going to dip into the money saved for the puppy (£600) as that is not happening until the spring.

We have to pay for the following:

- two lots of nursery fees for DD for Nov and Dec. They want them up front.
- two lots of before and after school club fees for DS - Nov and Dec
- fee for mortgage advisor - £200
- We have just been approved for a new mortgage at the monthly sum of £613 however all the paperwork is going through so I'm budgeting a worse case scenario Nov monthly payment on the SVR for £825. Its all on track to be processed before the end of the month but have factored this in just in case.

With is in mind we might be able to clear £400 - £500 of the credit card this month which would be super!! More if I only pay £613 for the mortgage!

I will do my YNAB budget tonight in preparation.

Happy hump day everyone!

Crunchy

NeverUnderestimate · 26 October 2016 at 8:06AM

Sounds good crunch!

I set off at the beginning of the month worrying things were going to be tight due to my work not paying me properly. Luckily all my bills came out on the 1st or in that first week. So I was able to physically see my balances in the bank for the rest of the month each time I checked.

Any left over pennies I sweep into a separate account (to nearest 0.00/5.00) which builds up after time and every two weeks I'll use this as overpayment to debt. Every little helps.

I've just checked my banking this morning and from being aware of my spends I'm near enough ending the month with approximately £200 of my budget left.

I'm totally surprised by that to be honest but I'm not complaining. I'll most likely put half into my emergency fund and half towards debt again.

Then the Budget restarts for November. Woohoo!!

The years gone so quick.

It's nice to see you've cut your credit card up. Can you not unlink it from your Amazon account?

I used to buy books for kindle willy nilly with the one click and never realised how much I spent. I was reading 4/5 books a week.

Woops.

Have a good day xx

Brunette84 · 26 October 2016 at 8:27AM

I've just subscribed to your thread. Looking forward to joining you on the journey to being debt free x

abba1772 · 26 October 2016 at 8:28AM

Happy new diary .........go on you for cutting your card up xx

Learning to budget to make future adventures happen

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