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  • FIRST POST
    • missmental123
    • By missmental123 24th Jul 17, 9:45 AM
    • 36Posts
    • 99Thanks
    missmental123
    Desperately seeking freedom :)
    • #1
    • 24th Jul 17, 9:45 AM
    Desperately seeking freedom :) 24th Jul 17 at 9:45 AM
    I have been in debt all my adult life I have been on here before in 2010 and reduced my debt significantly by PPI claims and stopping spending. I am now 52 years old and I'm in a bit of a mess financially. I am completely useless with money. I have one loan and three credit cards and overdraft. Our mortgage will be paid off in 2019.
    DS is at university in 5th year studying medicine and is one of my largest expense £400 + a month. He gets a bursary & small loan this year that don't even cover his rent.
    All my debt is mine, DH is unconnected to my finances. I am a nurse and work full time and earn approx £2400 a month with shift allowances with occasional overtime on top.
    I know my problems is overspending. I love holidays, festivals, going to gigs, nights out and weekends away. We need to start spending money on the house, bathroom & kitchen replacement etc in the future.
    We only have one holiday booked in Berlin in August that is paid for and a few gigs in the winter months. Apart from that I'm trying to spend as little as I can to reduce this debt.

    My current debts are;

    CC1 £4,335.75 - 0% til 04/18
    CC2 £1,055.18 0% til 04/19
    CC3 £7,273.58 0% til 04/19
    Loan - £10,042 - finishes March 2020
    Overdraft £1100
    Total: £23,806.33


    *I aim to get out of this mess by paying £900 off my debts a month. I have completed a snowball
    *I plan to pay the credit cards off by Feb 2019.
    *I am setting a weekly cash budget and will write all my expenditures in a cash book.
    *No more spending on credit cards.

    I am hoping that posting regularly in this diary will keep me focused and on track to freedom from my debts!
    Thanks for reading
Page 2
    • missmental123
    • By missmental123 26th Aug 17, 9:04 AM
    • 36 Posts
    • 99 Thanks
    missmental123
    Hi,

    Just returned fro a a lovely break to Berlin with DH! We had a lovely time and for a capital city it was cheap to eat & drink. I only spent 170 euros over 4 days on using my creation cc that. I've paid off today. We walked on average 12 miles a day! Highlights were the Reichtag dome tour (free), Zoo and Waldbuhne concert. Many of the museums were free. We also did a free walking tour but tipped the guide as she was brilliant. I love free walking tours.

    Back to reality now and back on nights tonight. I also got paid!, no overtime this month but I still managed to pay £714 on CC's & loan and overdraft was £100 less this month.
    I'm not sure that I'm using the right strategy though as I am focused on paying the debts off as soon as I can but I'm I know I need to clear my overdraft and get an emergency fund together as well. I think next month, I may make smaller payments on CC's and try to cut down the overdraft and put some money aside. .

    Things I need to do this month-
    - Shop around for car insurance - currently with L&V
    - Carry on budgeting all spends using weekly cash amount
    - Work out how much I actually spent last month on groceries, petrol, etc
    - Got one overtime shift booked, try and get one more
    - Sell CD's.. we have 100's of them
    - No clothes/ shoe shopping for me until Xmas.
    -Budget for car ins & car tax - due October -normally pay monthly direct debit.
    - Look at changing bank accounts - been with RBS for years!!! but i worry I may end up paying more for overdraft than I do already??
    Total: Debt July '17 -£23,806.33 - now £22,273.81
    • missmental123
    • By missmental123 28th Aug 17, 8:50 PM
    • 36 Posts
    • 99 Thanks
    missmental123
    What a lovely day! I woke up at lunchtime after my night shift, and I worked out that I've paid 6.4% of my debts since July! I really do feel like something has finally clicked!

    Today, I used my Sainsbury's Nectar points to pay for most of my grocery shopping and instead of going to the pub I bought some cans of shandy to drink in the garden.

    hoping for lots of NSD's this week.
    Total: Debt July '17 -£23,806.33 - now £22,273.81
    • missmental123
    • By missmental123 2nd Sep 17, 9:43 PM
    • 36 Posts
    • 99 Thanks
    missmental123
    First Direct
    I've had a good few days on the DFW front
    I've worked an extra night shift this week and got an overtime night shift on Monday too. I'm hoping to save this money to pay for my car insurance & MOT that are due in October. Normally this would be paid for in CC, but not any more.

    I have signed up for the October NSD challenge and also £1 a day for Christmas. I know it's a bit late in the year, but at least it may fund the xmas food shopping & alcohol?
    I made the big, scary decision to swop bank accounts today. I've been thinking about it for ages. I've been with RBS forever, and they have always given me a lovely huge overdraft! but I'm paying about £13 a month for it and this needs to change. I've been accepted for the First Direct account with £100 incentive plus £250 free overdraft. I'm feeling really anxious about taking this step, particularly not having my RBS 'comfort blanket' overdraft to fall back on but I also know that overall it is not helpful.

    Other good news is that my energy bills have reduced by £15 a month since changing to Engie!

    I'm looking forward to my one day off tomorrow. Hoping the sun will shine because I've splashed out £2.50 on a concert in the park in the evening. We're taking a bottle of plonk and hopefully will enjoy the classical music & fireworks.
    Last edited by missmental123; 02-09-2017 at 9:46 PM.
    Total: Debt July '17 -£23,806.33 - now £22,273.81
    • Hiddenidenity
    • By Hiddenidenity 2nd Sep 17, 9:46 PM
    • 4,743 Posts
    • 20,631 Thanks
    Hiddenidenity
    All good stuff especially changing to a smaller overdraft!

    Tomorrow sounds good!
    DFW £1313.71/£7348.71 Rent Arrears £466.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 2nd Sep 17, 9:59 PM
    • 988 Posts
    • 989 Thanks
    HairyHandofDartmoor
    You're doing really well. Holidays, clothes etc are lovely and hard to resist but you enjoy them a lot more when they're not financed by credit. I never use credit cards and rarely buy treats, but when I do I don't feel guilty because I know I can afford them.

    You'll feelso much better when your debts bite the dust.
    Debt at highest = £58,766 Current debt = £16,234

    Long Hauler No. 156 Spendaholics Anonymous No. 47
    • missmental123
    • By missmental123 5th Sep 17, 2:10 PM
    • 36 Posts
    • 99 Thanks
    missmental123
    I
    Hi,

    So the classical concert in the park was brilliant! They played a great selection of music.It was a proper sing a long in the rain!

    As I am switching to First Direct & I am reducing my overdraft to £250 from 2K, I decided to do a balance transfer from my Barclaycard CC 0% until March '18. I thought it was a good idea to do this to help with the transition from my big overdraft to my new little one! It will have only cost me £13 as long as I pay it off by next March.

    Sadly NSD's yet this month! But today will be NSD #1 !!

    I've swopped energy providers and Sainsbury's now reckon we're £23 in debit that I had not accounted for! This is very annoying!!!

    I have worked 2 extra shifts already this month The aim is to try not to spend the money I earn before I am paid it! This is a completely different way of thinking for me.

    I have started to use the 'spending app' to help record my spending. It's really simple and easy to use. I've given myself a monthly cash budget that I'm sticking to.

    I'm looking forward to going to see ' IT' at the cinema on Thursday night! DH is treating us,he's being waiting for it to be released for ages. Obviously, we will be taking our own snacks, no pricey popcorn & soda.

    Back to bed now... I should be asleep, Last night shift, hooray!
    Total: Debt July '17 -£23,806.33 - now £22,273.81
    • missmental123
    • By missmental123 11th Sep 17, 12:52 PM
    • 36 Posts
    • 99 Thanks
    missmental123
    All work & no playing makes me feel like a misery guts! I've been working all weekend but this has resulted in 3 straight NSD's!! Today,I'm catching up n housework & shopping, tomorrow is more fun! Meeting my friend for lunch - a bargain - 2 courses for £8 at a lovely Thai restaurant.
    Then it's back to work, 3 x 12 hour shifts... but at least it's day shifts not nights.
    I have still refrained from buying any clothes or shoes since July, I seem to have lost interest in shopping!
    I am still patiently waiting for my new First direct current account to become active & I'm very anxious about switching over. It seems a very slow process overall that is making me even more worried about it all!! I hope I am doing the right thing and that I'm not going to regret it?
    Last edited by missmental123; 11-09-2017 at 12:54 PM.
    Total: Debt July '17 -£23,806.33 - now £22,273.81
    • missmental123
    • By missmental123 12th Sep 17, 4:31 PM
    • 36 Posts
    • 99 Thanks
    missmental123
    I started off having such a good day.because my new First Direct current account is now active. I have a new shiny debit card and they've given me a £500 overdraft but the first £250 is free I've chosen to switch from RBS after pay day because it just seemed sensible. It will be a challenge but I'm determined to keep my overdraft below £250 after next month.

    But then I have just had a huge shock! I have been quoted £250 for my car MOT, service & brake fluid change that is all due at the end of this month I think I was being optimistic thinking I can pay all of this plus my car insurance & car tax in one month. I may have to compromise and pay monthly for car tax & insurance this time until I can get organised to put money aside for car maintenance.
    I know for sure that none of it is going on a CC ever again!!
    Total: Debt July '17 -£23,806.33 - now £22,273.81
    • Tea&Kittens
    • By Tea&Kittens 12th Sep 17, 8:52 PM
    • 43 Posts
    • 96 Thanks
    Tea&Kittens
    Hi MissMental

    Just checking in to read your story and say hi! Some of it seems familiar to me.
    Car maintenance is a sticky point for me too. I really need to be putting some aside!
    I started my debtfree journey on 07 September 2017:
    Barclaycard: 14382
    HSBC Credit Card : 2932
    MBNA : 2400
    Overdraft: 350
    A journey of a thousand miles starts with a single step. I'm on my way!
    • Mummy_bear
    • By Mummy_bear 13th Sep 17, 8:57 PM
    • 202 Posts
    • 796 Thanks
    Mummy_bear
    Hi Missmental,

    Also been reading your diary

    I had my LBM very end of May coinciding with an almost £600 bill from garage following MOT failure. Went on Credit cards. Realised couldn't keep living like that as it was yet another thing adding to debt.

    Hoping by next May to have sufficient funds in our annual bills account and emergency fund to cover these issues. Just a slow process putting the money aside for it. Keep doing what your doing x
    My LBM May 2017, DH LBM July 2017- Total Debt (not Including Mortgage) £37139.86
    £4434.13/£37139.86 11.93% paid
    Estimated DFD JUNE 2020 (calculated July 2017)
    Debt Free by Christmas Challenge
    Total cleared £2823.49/£9091.72 31% paid
    • missmental123
    • By missmental123 14th Sep 17, 6:15 AM
    • 36 Posts
    • 99 Thanks
    missmental123
    Car trouble
    Hi tea & kittens and mummy bear! Lovely names by the way.

    I used to have company car until 2 years ago so never worried about paying for car insurance, tax or maintenance so when it comes around in September I am totally unprepared for it, but 2018 will be different, I will definitely be putting money away for holidays, car & Christmas

    I had my 4th NSD for September yesterday. It's pretty easy to do when you work 12 hour shifts!.Just take my lunch with me. I've got chicken breasts in the over at 5.30 am! I must be crazy!! I take ALDI wotsits, fruit and a salad. I don't take any cash with me to avoid the temptation of M&Sfood just below our office.

    Two more long days at work.. but then have a nice weekend to look forward to. Friday night, my friend has invited a few mates round for home made curry & drinks. So I'm going after work, it should only cost me a taxi home & bottle of wine unless I stay & sleep over! On Sunday DH is taking us out (he's paying) for a carvery.

    My goal is to get my debt to below 20 k & to save £500 by Xmas! Can I do it? I'm going to try.
    Last edited by missmental123; 14-09-2017 at 6:32 AM.
    Total: Debt July '17 -£23,806.33 - now £22,273.81
    • glass_half_full
    • By glass_half_full 14th Sep 17, 7:20 AM
    • 149 Posts
    • 380 Thanks
    glass_half_full
    But then I have just had a huge shock! I have been quoted £250 for my car MOT, service & brake fluid change that is all due at the end of this month I think I was being optimistic thinking I can pay all of this plus my car insurance & car tax in one month. I may have to compromise and pay monthly for car tax & insurance this time until I can get organised to put money aside for car maintenance.
    I know for sure that none of it is going on a CC ever again!!
    Originally posted by missmental123
    Hi missmental,
    On the car insurance and tax, although they are cheaper when you pay them off in one go, actually I find paying monthly makes it easier to budget whilst getting set up on the debt busting journey.
    • missmental123
    • By missmental123 17th Sep 17, 5:45 PM
    • 36 Posts
    • 99 Thanks
    missmental123
    I've had a lovely weekend. Not spent much money & done lots of walking ( 8 miles yesterday).

    Friday night after work went round to a friend's for a girl's night in! she made us all a lovely curry & we all got merry. It only cost me £7 on a nice bottle NZ Sauvignon Blanc & £10 taxi home. Much cheaper than a night out in town & much more enjoyable. I got invited out Saturday night but declined as I don't want to spend £50 + on cocktails etc anymore. So I stayed in and watched some great TV instead, Liar & Strike!! And I had no hangover today either!!

    And I now have a total of 5 NSD's this month! My bank balance is looking so much healthier! I am actually starting to see some positive effects after only 2 months of scrimping

    This week I'm on nights, so I'm literally at work or asleep, So I'm hoping to get my NSD's to 8. I can't wait for payday, to pay some more debts off but dreading my car MOT. Fingers crossed it will be good news. I did look at PCP today on a Peugeot 208. They have an offer for ?£160ish a month including car tax, insurance, roadside assistance. It does sound quite tempting..
    Total: Debt July '17 -£23,806.33 - now £22,273.81
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 18th Sep 17, 9:19 PM
    • 988 Posts
    • 989 Thanks
    HairyHandofDartmoor
    Well done on turning down an expensive night out, fun doesn't have to cost a fortune. It's amazing how quickly you can see results, it's a cumulative effect.

    Not sure what you mean by PCP on a Peugeot? (I'm probably being thick )
    Debt at highest = £58,766 Current debt = £16,234

    Long Hauler No. 156 Spendaholics Anonymous No. 47
    • missmental123
    • By missmental123 20th Sep 17, 2:14 PM
    • 36 Posts
    • 99 Thanks
    missmental123
    lottery win
    Well done on turning down an expensive night out, fun doesn't have to cost a fortune. It's amazing how quickly you can see results, it's a cumulative effect.

    Not sure what you mean by PCP on a Peugeot? (I'm probably being thick )
    Originally posted by HairyHandofDartmoor
    Hi,

    Thanks for your support!

    PCP is a kind of HP I think where you buy part of a new car over a term, for example 3 years and at the end return the car or pay a balloon payment to buy the car or use the car as deposit for the next PCP. But I have decided to stick with my beloved 11 plate Beetle . I love my car!

    I am 2 down of 4 nights. Nights are horrible and make me feel physically sick, having a permanent fuzzy headache. On the upside I have had 2 NSD's so a total of 7 for this months so far!

    I also received an email with the good news that I am a winner on the Postcode lottery! £10! Whoo hoo!

    Better get back to bed....I should be sleeping
    Total: Debt July '17 -£23,806.33 - now £22,273.81
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 20th Sep 17, 8:34 PM
    • 988 Posts
    • 989 Thanks
    HairyHandofDartmoor
    Phew I was worried that it might mean that so I'm glad you didn't go for it :. So many temptations to get in the way of debt paying , but it feels so good when you stay strong .
    Debt at highest = £58,766 Current debt = £16,234

    Long Hauler No. 156 Spendaholics Anonymous No. 47
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