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    • Poor_Single_lady
    • By Poor_Single_lady 31st May 16, 2:36 PM
    • 844Posts
    • 2,989Thanks
    Poor_Single_lady
    Joined 31.05.16
    • #1
    • 31st May 16, 2:36 PM
    Joined 31.05.16 31st May 16 at 2:36 PM
    Day 1. 31.5.16
    I hope I am posting in the right place. I need to keep a spending diary where its not just me that sees it. I have around £14,500 in debt. This is split over 5 different lenders.

    £2450 Bankloan
    £3225 0% credit card
    £3620 0% credit card
    £2500 overdraft
    £2800 credit card 18%

    I have a lot of outgoings, live on my own (mortgage) recently had some expensive home improvements which I think were essential.

    I am slowly paying things off but one of my biggest battles is with my best friends who seem to be constantly putting pressure on me to do expensive things and get upset when i cant - making my battle twice as hard. Does anyone else have this issue or is it just me.

    My other main worry is that if my parents ever found out they would be heartbroken, I am 30 and shouldn't have let this happen. Im keeping my diary and working hard to fix. Day 1.
Page 40
    • Poor_Single_lady
    • By Poor_Single_lady 7th May 17, 11:57 PM
    • 844 Posts
    • 2,989 Thanks
    Poor_Single_lady
    So today was NSD.
    I tried YNAB - I found it stressful and made me want to be in self destruct
    Mode, to ignore everything and just live like it's not happening. I felt like a giant failure because I can't live on the tiny amount I am left with.
    I know other people say when it's gone it's gone but I can't pretend that I have reached that point yet.
    I won't re-try it. We are all different. I found is very frustrating and I tried very hard and then felt like throwing my laptop out tje window.
    I know people rate it but I think you have to have money to allocate in the beginning.

    I am doing my best.
    I'm not defaulting.
    I haven't had to tell my parents.
    I'm actually less into my overdraft than I was this time last Month.
    The improvements are happening but they are slow.
    I live in a small town with poor job prospects and I don't drive. There are few finance jobs here although there are some. When I researched it the pay was about the same once the travel was excluded. But I think I would be so bored I would then have to pay to travel into London so would then be paying for this.

    7 credit cards is a lot and I'm amazed that I qualify for any more on top of my current 6. But balance transferring the amount coming off does seem sensible.

    I had some expenses I didn't/couldn't write about and this year has been better than the last year.

    I know that ideally I should have a Christmas/emergency fund but Worst case scenario will most likely put this on my credit card and pay off in the new year and that will have to be OK.
    I just think it's a good idea not to try to run before you can walk. I am just sorting out the basics and that will have to do.
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • GoingToDoIt
    • By GoingToDoIt 8th May 17, 12:15 AM
    • 414 Posts
    • 2,865 Thanks
    GoingToDoIt
    I was similar when I had my LBM in Oct 15. It was not until around may/June 16 that I could save money for the future. At one point I had 5 cc's. I had to, it was the only way to survive.
    It has only been since Oct 16 that I really started saving for up coming expenses. And I had half of your debt PSL. I think we earn similar. Although I don't get out much
    Apr 16... Hfax £2551/483 Vrgin £3420/2977 MBNA 2 £2100/0 MBNA1 98/0
    Total cc 0% debt £8364/3460 updated 26 May 17 (halfway to debt free )
    • enthusiasticsaver
    • By enthusiasticsaver 8th May 17, 7:16 AM
    • 3,558 Posts
    • 6,217 Thanks
    enthusiasticsaver
    All you can do is your best PSL and we don't have all the information so you know better than anyone how you are doing. Can I ask exactly how much you have left monthly after taking off debt repayments and bills?

    If you are less into your overdraft then yes this is an improvement. When balance transferring go for longest possible deal as constant balance transfer fees will increase your debt too if you are only making minimum payments.
    Debt and mortgage free and saving for early retirement
    • DaringToDream
    • By DaringToDream 8th May 17, 7:25 AM
    • 92 Posts
    • 227 Thanks
    DaringToDream
    Hey PSL,

    I totally agree with you about the London commuting- I'm the reverse of you in that I quit my
    Job in London and moved to a more local one (only 2 hours commuting a day rather than 3.5 ) but I'm toying with the idea of working in London again as it's the only way to
    Progress in my career. I'm applying for new jobs at the moment and it would have to be a significant pay rise to cover the cost of the travel, which is really frustrating coz I'm having to let great opportunities pass me by coz I couldn't afford the commute. But at least then I'd have the travel card so I could go in for 'free' at the weekends, at the moment I never go in and see my friends because of the cost so end up stranded in my tiny town!

    You're doing great though, if you're using less of your overdraft than this time last month then that is fantastic. And once your loan is gone you'll be able to have a little bit to stash for emergencies, plus a little more for your day to day living, and also be able to pay off more of those cc's!!
    • enthusiasticsaver
    • By enthusiasticsaver 8th May 17, 7:39 AM
    • 3,558 Posts
    • 6,217 Thanks
    enthusiasticsaver
    Re the shredding of correspondence and statements to do with your credit cards - why not go paperless and check statements online? . Are your payments set up on direct debit?

    We don't get statements for anything now. Less chance of being targeted for identity fraud.
    Debt and mortgage free and saving for early retirement
    • Poor_Single_lady
    • By Poor_Single_lady 8th May 17, 9:39 PM
    • 844 Posts
    • 2,989 Thanks
    Poor_Single_lady
    I have £400 after all my bills and debt payments, but before eating, socialising, clothes and toiletries. It sounds like a lot but it isn't. It doesn't actually go very far but from November will have iro £550 which will be a lot more comfortable.
    But I am cutting down on drinking at least temporarily so that should make a big difference.
    What tiny town are you in Daretodream (or do you not want to say) - I don't rate my town but the surrounding ones are a lot worse. I love London for it's anonymity. I hate going for a drink at home and worrying you you might bump into ex boyfriends or people from school.
    London is somehow so much better.
    But having said that I am trying to cut down on the drinks!
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • Poor_Single_lady
    • By Poor_Single_lady 8th May 17, 9:42 PM
    • 844 Posts
    • 2,989 Thanks
    Poor_Single_lady
    Everything is on direct debit bar the card I pay in full where I do this online but it's not automatic.

    I have logins but I can't remember them. Will look into this. My sister would have no worries about going into my private drawers given the opportunity so need to get rid of as much as possible so she can't find anything.
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • DaringToDream
    • By DaringToDream 9th May 17, 8:06 PM
    • 92 Posts
    • 227 Thanks
    DaringToDream
    Hi PSL

    I live north of the M25 in a little town. It's ok, and I've only just moved here, but am missing having friends and family about especially when OH is away. Ironically before I moved I was fed up of living in London so I guess that's proof that the grass isn't always greener, but at least here we were able to buy and not spend all our money on rent, and I love our new home. For some reason I get the feeling we maybe live near each other, bit I'm probably completely wrong, and I think most little towns in the commuter belt are fairly similar!

    I think I need to join you in cutting down on the booze, although people have given us quite a few bottles for housewarming/birthdays so the cupboard is pretty well stocked- just need to try not to drink it!!
    Last edited by DaringToDream; 09-05-2017 at 9:57 PM.
    • Poor_Single_lady
    • By Poor_Single_lady 11th May 17, 9:23 PM
    • 844 Posts
    • 2,989 Thanks
    Poor_Single_lady
    Ah that's interesting. Commuter belt can feel a bit boring compared to London.

    I am very bored at the moment. Going to bed early a lot, working a lot and trying to get on track.
    Work is a bit challenging and we have some potentially spendy nights coming.
    Minimal plans for the weekend at least.

    Need some quiet weekends with films and walks.
    Kitchen and bathroom are very well stocked. Need to make jobs list for weekend.
    Top of the list stay sober.
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • coastalchick
    • By coastalchick 12th May 17, 3:53 PM
    • 89 Posts
    • 173 Thanks
    coastalchick
    hey PSL, just caught up on your diary. Great that you are going AF for May and agree with Verbatim, try and look at it as having a month of investing in your well being rather than not being able to go out cos of money. I'd really love to have a month like that so maybe I'll copy you!

    400 a month to cover food etc is not that much so totally sympathise with your position. Could you maybe take on some bar work at weekends for extra cash or, like me, would you be too shattered? Just thinking that would earn you money, plus keep you from spending at "peak times" as you'd be working (plus you might meet a hot bloke!!) x
    • Poor_Single_lady
    • By Poor_Single_lady 13th May 17, 11:33 AM
    • 844 Posts
    • 2,989 Thanks
    Poor_Single_lady
    I think I would burn out if I worked the weekends Coastal. I'm studying a lot too and there isn't enough room for that as things are. I see myself more as a tea lady than a barmaid tho-
    I don't think I would cope with all the drunk people talking to me!

    I'm really looking forward to payday and bringing the loan down. Part of me thinks I should have knocked it on the head with my bonus but this would have meant that I would still have a high balance on the high interest card so would have been silly really but I do wish the loan wasn't here taking £153 a month.

    A week on Monday it goes to £766. Then end of June just over £600.
    I'm quite impatient about this really. Wishing my life away.

    My credit card I pay off each month has sent me balance transfer offer (which does make me think at the very least my credit history can't be terrible) but it's marginally more expensive than the card I was recently accepted for and less months 0% so won't be taking it up but good that they offered- and maybe they will again when it does benifit me.

    Loan end date October £153 a month
    Sainsbury's, Mbna total £200 a month
    2 more total £40 a month- long deals
    1 more for travel and some Foodshops paid off each month
    1 more yet to arrive for BT.

    I am working hard to bring down the Overdraft and escape it and to this aim having a few quiet weekends and Trying for quiet weeks.
    No alcohol. And lots of study.
    A month of self improvement. But also a lovely lie-in today. I'm like a lazy teenager but at least hangover free which I think I could get used to.
    • charlies tribe
    • By charlies tribe 14th May 17, 10:46 PM
    • 305 Posts
    • 2,968 Thanks
    charlies tribe
    Good evening, Just popping in to return the visit and wish you luck on your journey. Well done on the shrinking overdraft and trying the AF month, it must be hard when friends etc. are all out drinking too.

    Good luck, will keep stopping by.
    LBM-March 17 £1487/£33554 (4.4%) paid
    • Poor_Single_lady
    • By Poor_Single_lady 15th May 17, 9:18 PM
    • 844 Posts
    • 2,989 Thanks
    Poor_Single_lady
    Hi Charlie. To be honest I think your diary made me feel a bit guilty and quite rubbish. Like I am a bit useless and not very responsible but you are providing for 5 children.
    And also I think your experience is quite similar to my mums which also makes me feel like I have let her down and she must never know.

    A lady on another thread wrote about how she is putting a file together for her husband for all the financials in case anything happens to her and he doesn't know how all the finances work. I am going to do this and leave in my living room in case I get hit by a bus and all the debts are a bit of a shock. Well they will be anyway but maybe if I have written it all down then it will be easier to deal with. I know my mum will go mad.

    Hopefully make it to old age and nobody need know.

    Balance transfer credit card not yet arrived.
    Not drinking is definately helping.
    10 days to pay day
    14 days to loan payment. £720
    Focusing on loan, paying off the HSBC credit card each month and getting out of overdraft and staying out permanently.
    No big furniture/flat purchases till next year (but I am looking at ideas for when I do have the money)

    Have spent lots of time at home recently which has been really nice but I think my family and friends think I am a bit reclusive. But it is totally helping and next month is very expensive.
    This week no expensive social but a work thing on Friday which will be free.
    Not very much going on at all.
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • charlies tribe
    • By charlies tribe 15th May 17, 11:56 PM
    • 305 Posts
    • 2,968 Thanks
    charlies tribe
    Sorry my post made you feel a bit rubbish, believe me we had debts before the children arrived, we've just added to them... a lot! At least you are facing them now so you wont have the worry if/when children come along, you can focus the money where it will be needed
    My mum was always In debt too, still is, and only the other day I had the debt collectors ringing me asking for her (also had calls for 2 of my brothers) It made me realise I didn't want that for our children and that if we didn't sort it now it could be their phones ringing but trying not to let them suffer because of it.

    You know, that's actually a great idea. If anything happened to me, DH wouldn't have a clue, he doesn't even know his own bank log on! Ideal with all the accounts and payments, he's just knows how to spend it. Maybe after this health scare I should put him a file together with everything in it.
    LBM-March 17 £1487/£33554 (4.4%) paid
    • Poor_Single_lady
    • By Poor_Single_lady 16th May 17, 7:46 PM
    • 844 Posts
    • 2,989 Thanks
    Poor_Single_lady
    Oh no sorry not rubbish. More that I am right to feel quite bad about this situation. I think it's a good thing!
    1week and 2 days to payday. Getting closer now. Need to fabricate some plans for the weekend and remember them on Monday. Another quiet weekend planned which I am loving the thought of so much.
    And one work thing on Friday to ensure without drinking.
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • coastalchick
    • By coastalchick 17th May 17, 7:17 PM
    • 89 Posts
    • 173 Thanks
    coastalchick
    hey psl - get you on the exhausted part and especially if you are studying - killer!!!

    Quiet weekends are the best and I would kill for one right now x
    • Poor_Single_lady
    • By Poor_Single_lady 20th May 17, 7:40 AM
    • 844 Posts
    • 2,989 Thanks
    Poor_Single_lady
    I know this isn't really 100% MSE compliant but I am going to see if I can pay the loan off early only a few months but the thought of it hanging round till October is very depressing.
    The balance goes down to £600 at the end of June. If I pay this from bank account (and worse case scenario go into overdraft)
    Annually 600x18%= £108/12 months = £9 a month.
    I am so fed up with being owned by this. I am giving it serious consideration.
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • GoingToDoIt
    • By GoingToDoIt 20th May 17, 8:51 AM
    • 414 Posts
    • 2,865 Thanks
    GoingToDoIt
    Hi PSL
    I know what you mean and it's a big chunk going out every month.
    Have you considered getting a second bank account? I have a "Bills" account and I don't use the cash card for it. I transfer enough for my direct debits to it every payday. So I don't think/feel the chunks of money coming out. I use the cash card on the account which has an overdraft ( just in case lol)
    Apr 16... Hfax £2551/483 Vrgin £3420/2977 MBNA 2 £2100/0 MBNA1 98/0
    Total cc 0% debt £8364/3460 updated 26 May 17 (halfway to debt free )
    • enthusiasticsaver
    • By enthusiasticsaver 20th May 17, 12:35 PM
    • 3,558 Posts
    • 6,217 Thanks
    enthusiasticsaver
    I know this isn't really 100% MSE compliant but I am going to see if I can pay the loan off early only a few months but the thought of it hanging round till October is very depressing.
    The balance goes down to £600 at the end of June. If I pay this from bank account (and worse case scenario go into overdraft)
    Annually 600x18%= £108/12 months = £9 a month.
    I am so fed up with being owned by this. I am giving it serious consideration.
    Originally posted by Poor_Single_lady
    Paying it off early through your bank account makes sense. Going into overdraft to do it doesn't. The loan is costing you 4% and if you go into your overdraft it will cost you 18% which is more than 4 times as expensive. I know you want shot of the loan but paying it off using other borrowing won't work.
    Debt and mortgage free and saving for early retirement
    • coastalchick
    • By coastalchick 20th May 17, 12:45 PM
    • 89 Posts
    • 173 Thanks
    coastalchick
    i agree with GTDI, I do the same and have a "bills account" and a set amount goes straight in each month, also to cover those expenses that appear annually or quarterly (I work out what cost per month would be and whack that amount in). Really does make a difference as you know you can pay all your bills, plus doesn't feel like loads constantly coming out as you've effectively already hoofed it off. x
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