Here goes....

24

Comments

  • We have both near us, I will try shopping at Lidl/Aldi as I currently go to Sainsburys everyday after work and this is really adding up. Making a meal plan will help too.

    CC2 is what I use for my every day spending so it is getting bigger rather than smaller..I got it as a reward credit card and was meant to pay it off every month but more and more got put on it (I got it just before Christmas and put a lot of money on it then, then we went to London for a long weekend and everything got put on it...) so it gradually just got bigger. We eat out a lot and because my boyfriends works in the wine trade we end up getting a nice bottle which is usually half the bill! Now I write this, I think our lifestyle has got out of control and we need to reign it in.

    I have only recently started doing the piggy banking so there isn't much in the accounts. I have £500 in savings which I want to keep as an emergency fund.

    Our holiday is a mega one for our joint 30th birthdays and is costing quite a lot...Our attitude at the time was 'Well you are only 30 once' but now I am getting the fear!
    01.05.2019 - Re-Mortgage - £142,000 :eek::eek::eek: Total overpaid to date: £15,584.33.
    MFW #52 £9000/£12000
  • bexster1975
    bexster1975 Posts: 1,576
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    OK. So your SOA isn't accurate if you have run up £1800 on day to day living.

    Keep a spending diary for a month. Write down everything you spend. Then you can work out a real SOA and start addressing issues with spending. I see you are worried, but honestly this is very easily fixed if you do it now. Loads of people bury their heads for years and end up in ten times the debt you are in. Then you do have trouble. Sit down with OH and plan holiday spends before you go.

    Bexster :)
  • Thank you bexster! It definitely is my spending being out of control, doing a bit of 'keeping up with the Jones'. I added over £200 to CC2 recently because my friend's getting married...new dress, shoes, bag, earrings etc crazy really for 1 day.

    It is panicking me so I want to sort it now - I can see it getting out of control if I don't do something about it. I will report back with the results from the spending diary (but will try and be sensible too this month). If I get a chance over the weekend I will try and track back over the last month too.
    01.05.2019 - Re-Mortgage - £142,000 :eek::eek::eek: Total overpaid to date: £15,584.33.
    MFW #52 £9000/£12000
  • bexster1975
    bexster1975 Posts: 1,576
    Photogenic First Anniversary First Post Bake Off Boss!
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    Don't track back. Just move forward. Simply keeping a diary will make you think before you spend. Keep your receipts. Include everything, including that takeaway coffee.

    It will be easier than you think.

    Good luck

    Bexster :)
  • kram
    kram Posts: 136 Forumite
    Hi Fruitloop04,

    Welcome to the forum, I can only echo what others have said but please look at your spending as debt creeps up on you then all of a sudden you are in deep ***t with nothing to show for it & a load of stress as well.

    Get the spending under control & you can put this behind you.

    Good luck

    K
  • Debtslayer
    Debtslayer Posts: 447 Forumite
    I think you could make real changes to your spending habit by shopping weekly, meal planning and stopping the coffees and lunches everyday. You need to start taking lunch. Just add up how much you spend each day on food it will be frightening.
    Current Mortgage 01.10.17 £113,513.88
    MFW Start Mortgage: £114,794.64
    Current MED: 2036:eek: Target MED: 2026 ;)
    Overpayment Target for remainder of 2017: £2,000
    Mortgage overpayment savings: £684.80
    MFW No 124 :money:
  • Thank you everyone for the advice so far. I will keep a diary going forwards and probably be horrified!

    Thank you Kram, I need to get into good habits now before it gets out of control, and then hopefully put some money in to a emergency fund.

    Thanks Debtslayer - I have just added up the takeaway coffees alone to be £1445.60. Absolutely shocking!!!
    01.05.2019 - Re-Mortgage - £142,000 :eek::eek::eek: Total overpaid to date: £15,584.33.
    MFW #52 £9000/£12000
  • :eek:£1445.60 for the year that is...:eek::eek:
    01.05.2019 - Re-Mortgage - £142,000 :eek::eek::eek: Total overpaid to date: £15,584.33.
    MFW #52 £9000/£12000
  • ReadingTim
    ReadingTim Posts: 3,970
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    Basically, you need to learn to use the word no. As in, "no, I'm not going to buy this...", "no, I can't afford this...", or "no, I don't need this..."

    You know what the problem is (no self-control) and you know what the solution is (make a budget and stick to it). So just do it!
  • kram
    kram Posts: 136 Forumite
    edited 17 August 2017 at 8:33PM
    You should look at this as your lightbulb moment, realising things have to change as it doesn't take long to rack up some serious debt.

    Focus on the small picture & the big one paints itself.

    K
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