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    • SpekySquarehead
    • By SpekySquarehead 15th Mar 16, 9:12 AM
    • 1,735Posts
    • 13,592Thanks
    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 38
    • SpekySquarehead
    • By SpekySquarehead 7th Nov 17, 1:25 PM
    • 1,735 Posts
    • 13,592 Thanks
    November Update
    Goal: Achieve my bonus targets in work
    Update: Iíve been told Iím not a million miles away but nonetheless, Iíve yet to see a penny. Meeting this Friday in which Iíll ask again

    Goal: Build a stronger network of clients
    Update: I truly felt that this was successful at the weekend there. Very pleased with how this has progressed this year.

    Goal: Attend at least 1 new training course
    Goal has been canned due to work requirements changing.

    Goal: Spend more 1-2-1 time with my gran - Done
    Update: Seeing her this Thursday which Iím really looking forward to. Weíre now in a routine and we see each other lots more than this time last year. Goal achieved.

    Goal: Visit my Dad at least 6 times - DONE
    Update: Iím on track to see him more than this actually. Can consider this done!

    Goal: Organise social events with my cousins - Done
    Update: Weíre all going out for dinner later this month which will be a good laugh. As always, Iíll need to be clever with my cash.

    Goal: See my friends children more often
    Update: Considering my other relationship goals are going well, this needs looking it. I will look to address this soon.

    Goal: Start learning Spanish (again) - DONE

    Goal: Live on a ketogenic diet
    Update: I went in head first to this and my knowledge on diet has increased. Iíve learned things which will stick with me forever and my diet preferences have also changed.

    Goal: Buy a house/flat - DONE

    Goal: Save an emergency fund of £1k
    Update: With so many outgoings including saving for events in the future, itís hard to put money away into savings. This will only get easier as time passed by and these events come and go. I couldnít afford to budget anything this month, which is disappointing but will look to remedy that in future.

    Goal: Read 10 books (2 out of 10 so far)
    Update: I read a full book when I was on holiday and my colleague has kindly gifted me another which Iíll start tonight.

    Goal: Eat out less
    Update: Iíve already been out for a Chinese for a leaving dinner and Iíve got my aforementioned cousins dinner later. Still, a lot less than what I used to do.

    With 2 months left of 2017, I better get reading some books. Aside from that I'm pleased with my progress so far and will aim to tick off as many as possible.
    Debt Free Date: 29/09/16
    • jvr
    • By jvr 10th Nov 17, 9:06 AM
    • 326 Posts
    • 1,140 Thanks
    Hi Speky

    Just caught up with your diary... sounds like everything is going really well. I think its understandable you haven't saved an emergency fund yet, the big thing is that you actually have the money for upcoming events that's fantastic progress

    Starting point: £9000 needed to clear debt and pay for the holiday
    Now: £1900/£9000 paid......... £7100 to go!
    • SpekySquarehead
    • By SpekySquarehead 10th Nov 17, 1:25 PM
    • 1,735 Posts
    • 13,592 Thanks
    Hey JVR,

    Yeah I suppose that is a good thing which I often overlook. My own worst critic at times.

    I've a busy weekend ahead in which my only un-expected spends are a boxing class (£5) and lunch with some friends on Saturday. Looking forward to a long lie!
    Debt Free Date: 29/09/16
    • louby40
    • By louby40 11th Nov 17, 8:07 PM
    • 1,157 Posts
    • 3,164 Thanks
    I always look forward to a lie in. This morning I was awake at 5am. Typical.
    Parent loan PAID IN FULL Sealed Pot Challenge 10 #572
    Emergency fund £670/£1000. Christmas savings £450/£600 Car maintenance £50/600
    Kitchen July £12,493 OCT £10,493. 18% paid off
    Barclaycard £250
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • SpekySquarehead
    • By SpekySquarehead 16th Nov 17, 8:59 AM
    • 1,735 Posts
    • 13,592 Thanks
    Jeeeeeso. Just realised it's been a while. On second thoughts, I've not much to report I suppose.

    Financially, my immediate concern is the fact I'm due a new car in January. I currently pay absolutely peanuts for a relatively nice car, so I'm hoping for a good deal again. Although I now earn more than when I got my current car, my expenditures are much higher, so I'd like to keep my monthly cost to rise no more than £50.

    Given the past 6 months have been expensive, I may have to borrow from the Bank of Mum for a deposit on said car. We'll see what happens.

    Christmas is pretty much sorted. Couple of things to get, which I might do on my lunch break today actually and get them out of the way.

    Nothing much else to say for now actually. Just ticking along nicely.
    Debt Free Date: 29/09/16
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