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  • FIRST POST
    • SpekySquarehead
    • By SpekySquarehead 15th Mar 16, 9:12 AM
    • 1,735Posts
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    SpekySquarehead
    It's not a lot, but it's enough
    • #1
    • 15th Mar 16, 9:12 AM
    It's not a lot, but it's enough 15th Mar 16 at 9:12 AM
    Good day to you all.

    Can I start by saying I feel a bit embarrassed about starting this diary. Not because of my debt, but because in comparison to other peoples situation I seem to be in a better position to clear it. However Iíve been considering starting a diary like this for a while as I feel itís really been getting me down, like thereís a huge black cloud following me everywhere I go. I feel I think about money Ė or more specifically my debt - all day, every day, and hopefully having a place to come and post of my attempts to reduce it will help keep my chin up and motivate me.

    A bit about me. Iím 25 and I live with my mum for now and I have a steady and comfortable paying job. I was in a relationship for 8 years and we had a joint savings account with a view to buy a place. When that relationship ended, I went off the rails. I blew my half of the savings while at the same time took out a credit card telling myself Iíll use it to increase my credit score by only using it to buy petrol and paying back at the end of every month. That didnít go to plan. I know have 2 credit cards (just recently paid off my third); Tesco Credit Card - £2,614.19 and Barclaycard - £693.88. Both of which are 0% interest for now.

    The thing is, I know that my debt is manageable. Iím not spiralling out of control with interest. I donít have a mortgage. I donít have any kids. My expenditure is relatively low. I can and I will do this!

    Although this is a Debt Free Diary, I have a view for this to become a Saving Diary once Iíve cleared these cards. I want to feel the way I felt 3 years ago with no debt and thus no worries. To be happy again.

    My plan to clear this debt was originally to still try and maintain an element of my lifestyle that got me into this mess while being sensible. At the end of each month, any remaining money in my account would be transferred to my credit cards, this is already on top of my direct debits to meet the minimum repayments. However I found that this technique gave me too long a leash and I wasnít being tight enough. This month I actually have a stag do in Amsterdam (paid for by said credit cards) and with no savings, I had to use money from this months wages for spending money, leaving me skint for the remainder of the month, but goes to show that I can stow away a large chunk at the start of the month and force me to make the sacrifices. So thatís the plan, so put away a sizeable amount at the start of each month, the day I get paid.

    Thank you for reading and appreciate the support.

    Peace and Love!
    Debt Free Date: 29/09/16
Page 1
    • Kitten868
    • By Kitten868 15th Mar 16, 11:19 AM
    • 837 Posts
    • 1,681 Thanks
    Kitten868
    • #2
    • 15th Mar 16, 11:19 AM
    • #2
    • 15th Mar 16, 11:19 AM
    I don't think this board is for one type of person. I think it's for anyone in debt. I think it's about training yourself into the right mindset to get out of the hole and not make the same mistakes again. So welcome.
    How long have you been 'off the rails'? The nastiest bit is how much longer it takes to pay back compared to how long it took to spend!
    Do you have any timelines or goals in mind?
    Loan 1 £7100/£8000
    Loan 2 £5100/£5800
    Total £12200/£13800 12% PAID
    • SpekySquarehead
    • By SpekySquarehead 15th Mar 16, 12:02 PM
    • 1,735 Posts
    • 13,596 Thanks
    SpekySquarehead
    • #3
    • 15th Mar 16, 12:02 PM
    • #3
    • 15th Mar 16, 12:02 PM
    Thank you.

    It started in June 2014 and you’re soo right, money is so easy to spend. As easy as handing over a card and entering a 4 digit number or card details online. It just got out of hand and I really hate myelf for it.

    I don’t have a set goal actually, good point. I’ll need to do some serious thinking about that to give me something to work to.
    Debt Free Date: 29/09/16
    • Kitten868
    • By Kitten868 15th Mar 16, 1:36 PM
    • 837 Posts
    • 1,681 Thanks
    Kitten868
    • #4
    • 15th Mar 16, 1:36 PM
    • #4
    • 15th Mar 16, 1:36 PM
    Well mine is vague and impossible. £4K in 4 months. While on maternity leave haha I want all my credit cards and all but one of hubbys gone. I think it's more like £6k. But I like to over reach myself. It's hard to fail but it encourages me to try harder during and after. I don't cut myself any slack this way.
    It is better to be realistic with a real budget. Depends what suits you?
    Loan 1 £7100/£8000
    Loan 2 £5100/£5800
    Total £12200/£13800 12% PAID
    • SpekySquarehead
    • By SpekySquarehead 15th Mar 16, 1:40 PM
    • 1,735 Posts
    • 13,596 Thanks
    SpekySquarehead
    • #5
    • 15th Mar 16, 1:40 PM
    • #5
    • 15th Mar 16, 1:40 PM
    Over stretching is something I'm familiar with from work. I set myself a target, give it to my boss to approve and then they stretch it further, so I understand your logic. Might be one I should adopt in my personal life too actually. Thank you.
    Debt Free Date: 29/09/16
    • SpekySquarehead
    • By SpekySquarehead 16th Mar 16, 9:36 PM
    • 1,735 Posts
    • 13,596 Thanks
    SpekySquarehead
    • #6
    • 16th Mar 16, 9:36 PM
    • #6
    • 16th Mar 16, 9:36 PM
    Today was a No Spend Day! Keep thinking about this little diary and it perks me up and helps motivate me. I feel good about this situation.
    Debt Free Date: 29/09/16
    • SpekySquarehead
    • By SpekySquarehead 22nd Mar 16, 1:54 PM
    • 1,735 Posts
    • 13,596 Thanks
    SpekySquarehead
    • #7
    • 22nd Mar 16, 1:54 PM
    • #7
    • 22nd Mar 16, 1:54 PM
    Just received an email from our receptionist to say that it's one of the girls in the office birthday this week, her 30th, and to give any contributions across by the end of this week. £10 I hadn't accounted for.

    My payday is the last day of this month which seems just ageeees away
    Debt Free Date: 29/09/16
    • Kitten868
    • By Kitten868 24th Mar 16, 8:58 AM
    • 837 Posts
    • 1,681 Thanks
    Kitten868
    • #8
    • 24th Mar 16, 8:58 AM
    • #8
    • 24th Mar 16, 8:58 AM
    £10 for a colleague! That's scandalous! Come your birthday you'll be able to clear your credit card if they all fork out like that!
    How much do you want to save up? X
    Loan 1 £7100/£8000
    Loan 2 £5100/£5800
    Total £12200/£13800 12% PAID
    • SpekySquarehead
    • By SpekySquarehead 24th Mar 16, 9:05 AM
    • 1,735 Posts
    • 13,596 Thanks
    SpekySquarehead
    • #9
    • 24th Mar 16, 9:05 AM
    • #9
    • 24th Mar 16, 9:05 AM
    £10 for a colleague! That's scandalous! Come your birthday you'll be able to clear your credit card if they all fork out like that!
    How much do you want to save up? X
    Originally posted by Kitten868
    I know, it's been the 'standard' since I joined here last year.

    I am firstly desperate to clear this debt as a priority and thereafter I'd continue to put away as much as possible each month into a Help To Buy ISA.

    Reading the various threads on here, I am looking to make more of a lifestyle change that'll last, not just quick fix.
    Debt Free Date: 29/09/16
    • SpekySquarehead
    • By SpekySquarehead 29th Mar 16, 8:48 AM
    • 1,735 Posts
    • 13,596 Thanks
    SpekySquarehead
    Easter Sunday has been a date in my social calendar for years in which my friends and I always get together for a nice day/night out. Cost me £50, which in comparison to previous years is pretty good going.

    I've now got £20 left to do me until payday on Thursday which is fine as I've got a half tank of petrol and the cupboards and fridge are full.

    Desperate for payday to come to get that feel good feeling of paying off some of the debt, can't come quick enough.
    Debt Free Date: 29/09/16
    • SpekySquarehead
    • By SpekySquarehead 30th Mar 16, 9:12 AM
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    SpekySquarehead
    Checked my online banking and that £20 I thought I had was showing as my balance but my available money was £0.00 with no pending transactions! Not wanting to go into my unplanned overdraft I moved over £60 from my savings and now my available money is £18.00. Extremely confused and I keeping an eye on my account to see why this is and what is due to come off.

    Apart from that. Today will be a NSD as I brought my lunch in with me today and no costs tonight.

    Work - gym - chill. In that order. Check back tomorrow with details on how I've split my pay.
    Debt Free Date: 29/09/16
    • SpekySquarehead
    • By SpekySquarehead 31st Mar 16, 12:24 PM
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    SpekySquarehead
    It's payday!!

    Spend a lot of time this morning going through my finances. I downloaded and excel spreadsheet of my March spend to analyse where my money went and where I can afford to take from. In doing so I found out where the issues came from in saying I didnít have money to spend whilst having no pending transactions and it appeared I did indeed have some pending transactions, petrol!! Below is a monthly breakdown of my expenditure Iíll keep going to keep track of how Iím getting on;

    Petrol - £183.00
    Iíve had my current car for going on 3 years now and at the start I kept a track of my monthly spend on petrol and for the life of me I canít remember my average spend. So let this be a benchmark for an average month.

    Debt - £270.06
    A mixture of minimum payment direct debits plus a lump sum of £150.00 on the day when I had decided enough was enough.

    Cash - £230.00
    I withdrew a total of £230 from cash machines throughout the month. Which is terribly frustrating as it then becomes difficult to track on what itís spent on!! My aim is to bring this down dramatically. In saying that, my granddad always said ďyou need to have cash in you wallet, at all timesĒ, he didnít mean lots, but £20 or so for the occasion when I can only pay by cash and not to be stuck!

    Avoidable - £327.40
    Avoidable, to a certain extent. £40 for Motherís day, £70 for dinner in a nice restaurant, £25 for new earphones and the rest on avoidable impulse shops.


    In March I spent a few days in Amsterdam and so that was £350 converted in Euros, so I took £350 from my April pay and put that straight onto my Tesco CC!!! What a feeling. As I mentioned before, Iíve signed up for the NST Challenge for this month Ė 20 No Spend Days!! Coupled with a huge spring clear out and Iíll hopefully make some money with eBay selling.

    Today I have the usual routine, work > gym > home. I usually see my pals on Thursdays but tonight Iíll spend time with the GF as Iím off to Liverpool tomorrow with work until Sunday.

    Have a good day!
    Debt Free Date: 29/09/16
    • SpekySquarehead
    • By SpekySquarehead 1st Apr 16, 4:36 PM
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    • 13,596 Thanks
    SpekySquarehead
    After reading lots of posts on here about how good YNAB is, Iíve signed up for the free 34 day trial and booked in for a webinar on Sunday night on how to use it. Very confused with it all just now but people say you get used to it and it becomes very easy. So letís see.

    I leave for Liverpool today with work for the weekend. A charity zip line in Wales however we decided to stay in Liverpool to break the journey up plus itís a cracker of a city. Weíre all doing the zip line for Marie Curie Cancer Care so all for a great cause. Looking to keep costs to a minimum while Iím away without being a tight bum. Iíll have time on my hands at points so Iíll check in when I can.

    In other news, my step brother is getting married!!!

    In South Korea.

    In January.

    Absolutely delighted for him but itís the cost!! Itíll be 4 figures for a week away. I have to be there though, itís my bro after all and itís a once in a lifetime experience.

    The question is, will I have cleared my debt and saved up enough for it by then? I hate to be a pessimist butÖ
    Debt Free Date: 29/09/16
    • SpekySquarehead
    • By SpekySquarehead 4th Apr 16, 9:46 AM
    • 1,735 Posts
    • 13,596 Thanks
    SpekySquarehead
    Itís Monday and Iím determined to embrace it and make the most of it. Positive vibes.

    The weekend was very enjoyable and survived the zipline! Managed to spend under £50 which was my budget for the weekend. So pleased with that. I arrived back yesterday around 4pm, just in time for my webinar with YNAB. The 20 minute, interactive webinar was a great help and I now feel Iíve got a much better understanding of it and it could really work for me. Iím going to sign up to a few more to make sure Iím making the most of it.

    Itís my cousins wifeís 30th on Friday and sheís having a 1920ís theme, so I bought a bowler hat (£3 from eBay) and a fake moustache (£1 from eBay) to go with my suit. Iíll need to buy her a gift and a card at some point, but despite this Iím aiming for 5 NSDís this week, not necessarily in order.

    Yesterday I bought a new tub of Herbalife plus protein bars for £30. Thatíll do me for all my work lunches and possibly my breakfast too if I donít have time to make something. So in the long run, Iíll lose a bit of puppy fat while also saving cash.

    Exciting news; Iíve got an interview tonight at 6.30. Itís with a car dealership as a salesman, itís as much as them interview me and as me understanding if itís the direction I want to take my career. The manager and person interviewing me is a relative of a close family friend, so Iím already on the front foot. Keep you posted.
    Debt Free Date: 29/09/16
    • SpekySquarehead
    • By SpekySquarehead 5th Apr 16, 10:21 AM
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    • 13,596 Thanks
    SpekySquarehead
    The interview yesterday went well, very well. He ended the interview by saying that I was the type of person he was looking to hire but protocol means he needs his colleague to see me and also give the nod. Despite this seemingly good news, upon him explain the role it became apparent it’s not for me. I would need to take a pay cut of £15k which they claim to balance out by having an increase on commission. I’m confident in my abilities, but I hate the uncertainty of what my salary will be at the end of the month, and for that reason I’ll have to politely decline.

    Not the end of the world. I’m still in a comfortable job and after my review last week, I’ve been told they see me here for the long term which is lovely to hear but there’s no chance of progression, so I’ll review things after summer.

    Sticking to the NST challenge, so plenty of NSD’s ahead coupled with plenty exercise, healthy eating and event some pampering tonight (gym, steam room, Jacuzzi and foam rolling).

    I signed up for another YNAB webinar, beginning to get to grips with it all now. I think it could really work for me.
    Debt Free Date: 29/09/16
    • StrugglingYouth
    • By StrugglingYouth 5th Apr 16, 12:03 PM
    • 250 Posts
    • 401 Thanks
    StrugglingYouth
    Sorry to be blunt, but Im confused as to why you cannot pay these down significantly each month with little outgoings and a full time job?

    I think you can easily do this if you cut back on the frivolous spends. You already know this though, its whether you want to do it thats the difference.
    Sealed Pot Challenge:
    2014 = £202
    2015 = £382

    House deposit saving: £10,083/£25,000.
    • SpekySquarehead
    • By SpekySquarehead 5th Apr 16, 12:13 PM
    • 1,735 Posts
    • 13,596 Thanks
    SpekySquarehead
    Thank you for your reply and taking the time to read my posts.

    You’re right, I could. As I’ve said though, I still want to do certain things and not become a recluse for a period of months. I’ve got a much better hold of my finances now and I’m confident in what to do going forward.
    Debt Free Date: 29/09/16
    • SpekySquarehead
    • By SpekySquarehead 7th Apr 16, 1:15 PM
    • 1,735 Posts
    • 13,596 Thanks
    SpekySquarehead
    You wait for a bus and 2 come at once.

    My ex-boss who now lives in NZ has emailed me to notify me of a job that she thinks I’d be suited for (which pays £5k more than what I earn currently) and she also knows some important people in the company so she’ll put a good word in for me. Sent across my CV this morning, so fingers crossed.

    Taking part in the NST challenge on here has made me extra determined to have as many NSD’s as possible, enjoying the challenge and the rewards it reaps.

    I’m keeping up to date with my YNAB too, so I’m always able to keep track of where I’m sitting and what I’ve spent.

    My gran has offered to give me £200 per month as long as I put it straight in a HTB ISA so I’ll get the ball rolling with that this weekend and get in touch with Santander given its recommendation from this website. Touched and privileged to have such a kind and generous family, and it’s something I’d really appreciated lately.
    Debt Free Date: 29/09/16
    • Littlebirdie
    • By Littlebirdie 7th Apr 16, 9:24 PM
    • 189 Posts
    • 273 Thanks
    Littlebirdie
    Hey,

    I'm too 25 and am too in debt! I also want to start paying into the Help to Buy ISA once my debt is cleared. So lovely about your Gran! How sweet I've subscribed as its nice to find someone my age!
    To staying out of debt!
    • SpekySquarehead
    • By SpekySquarehead 7th Apr 16, 9:56 PM
    • 1,735 Posts
    • 13,596 Thanks
    SpekySquarehead
    Hey,

    I'm too 25 and am too in debt! I also want to start paying into the Help to Buy ISA once my debt is cleared. So lovely about your Gran! How sweet I've subscribed as its nice to find someone my age!
    Originally posted by Littlebirdie
    Thanks for reading and posting.

    The good thing for both us of is that we're making changes now before it snowballs. I've a friend who just took a loan for £12k, who is also 25 and that just gives me the fear.

    Well done on setting yourself a target and working to get there. We can do this!!!
    Debt Free Date: 29/09/16
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