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  • FIRST POST
    • louby40
    • By louby40 17th Jun 16, 7:57 AM
    • 1,163Posts
    • 3,173Thanks
    louby40
    Round and round the overdraft....soon to be no more
    • #1
    • 17th Jun 16, 7:57 AM
    Round and round the overdraft....soon to be no more 17th Jun 16 at 7:57 AM
    Having lurked and read quite a few diaries I thought I'd start my own. If it's down on paper then I can read back and see my progress (or not)

    My debts aren't massive but my bugbear is my overdraft as I do believe if I can get that sorted everything else will fall into place

    My debts are:

    £400-500 overdraft every month PAID
    £970 cc now £250 Oct 17
    £5500 left on my car loan (ends in Jan 2019) now £3084 Oct 17
    £106,000 mortgage at £600 pm now £95,805 Oct 17
    £6500 bank of mum and dad PAID

    I have £150 in an emergency fund

    I'm just in the process of moving my current account to First Direct to take advantage of their £250 free overdraft service and £100 incentive to switch. I need to keep my o/d under the £250 and slowly begin to chip away.

    My over spends are having 2 very tall teenage boys who eat a lot and extra trips to the supermarket. I also treat myself to a manicure/gel polish every month.

    I'm a single mum and work as a teacher so I buy stuff for my class, extra craft bits, second hand books from Amazon, it soon mounts up.

    I also need to be stricter with my boys and refuse the £2.50 they ask for lunch everyday.

    I shop in Aldi and cook a lot from scratch - my slow cooker is my saviour!

    I need to keep a strict spending diary and stop buying unnecessary things.
    Last edited by louby40; 29-10-2017 at 3:56 PM.
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
Page 2
    • louby40
    • By louby40 29th Jun 16, 4:59 AM
    • 1,163 Posts
    • 3,173 Thanks
    louby40
    Good morning...yawn


    I've been awake for ages. My son had his prom last night and I heard him come home so didn't go back to sleep properly. Proud moment and happy memories made last night.


    Lay awake thinking about my bank switch and how I've stupidly arranged it for the 4th July which means I've got to juggle money around as some DD will come out on Friday and some next week. Ahh well, hopefully it should all work out.


    So this is it now, payday today and the start of my debt free journey. I'm quite excited!


    I've got quite an expensive month so it's good that I've already started budgeting.
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • louby40
    • By louby40 29th Jun 16, 6:59 PM
    • 1,163 Posts
    • 3,173 Thanks
    louby40
    I'm absolutely shattered after about 4 hours sleep last night! Early night for me I think


    I've looked at my finances for July today and I've paid £340 towards my debt. With the rest of my bills coming out I should have about £650 left. This is manegable I think and hopefully I'll be able to pay some of my overdraft off.


    Extras this month
    100 Euros for my son, he's going to Paris for 4 days with school
    40 Euros for us as we (me & my 2 sons are going to Spain) at the end of July. I already have 60 euros and we're going All Inclusive so not a lot of extras to pay for


    £45 for my hair colour + cut
    £25 for my nails (then am not going again after this)
    £20 for 2 presents for 2 ladies that work with me in my classroom - I already have a bottle of wine so just need to add to that - could be £15
    £60 for the carpet fitter - fitting bedroom carpet & bathroom vinyl
    £20 for paint as painting my sons room whilst he's in Paris


    I've got £40 in my paypal account from ebay sales and that may go up as I have other items on there still so that can go towards something, or pay off a debt


    I've saved £150 too. Today is NSD 3 and I've only been doing it since the 18th June.


    Feeling positive and on track!
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • tori.k
    • By tori.k 29th Jun 16, 9:38 PM
    • 2,896 Posts
    • 6,519 Thanks
    tori.k
    You have been busy, working and DIY you must be looking forward to your holiday
    Debit to Credit (stage 1) 3652.34 completed 15/10/16
    Debit to Credit (stage 2) 6299.09 completed 25/06/17
    Last Castle 150,000/ 25300
    • louby40
    • By louby40 29th Jun 16, 9:44 PM
    • 1,163 Posts
    • 3,173 Thanks
    louby40
    Not started the decorating yet, I ripped the bathroom carpet up and now need to buy pain. Painting the bathroom first. My OH is helping me.

    Yes I'll be ready for my holiday. I've saved all year for it.
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • louby40
    • By louby40 30th Jun 16, 7:12 PM
    • 1,163 Posts
    • 3,173 Thanks
    louby40
    First time I've bought something since I began my journey.

    I spent £23 on a £4 bottle of wine, some suntan lotion, paint rollers and a scraper for filling holes.

    I felt terrible buying these things....lol. I do still have £7 in my purse from some cash I drew out the other day.

    Tomorrow is 1st July. Hoping to get 10 NSD in July!
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • SpekySquarehead
    • By SpekySquarehead 1st Jul 16, 8:24 AM
    • 1,735 Posts
    • 13,596 Thanks
    SpekySquarehead
    You shouldn't feel bad buying something, especially items like that. Refusing to spend anything isn't 'living' at all, I say that from experience.

    Good luck with the NSD's!
    Debt Free Date: 29/09/16
    • louby40
    • By louby40 3rd Jul 16, 4:11 PM
    • 1,163 Posts
    • 3,173 Thanks
    louby40
    Bit more spending this weekend! Strange how it worries me now, I'm consciously thinking about every £

    I spent £57 in Aldi and then £6 in Morrisons so slightly over my £60 budget. I also bought £47 of paint, brushes etc to start my decorating with.

    On the plus side I sold a surround sound system/DVD player on my local Facebook page for £45, plus 2 pieces of furniture for £43. I also sold stuff on eBay amounting to £20. So pretty good. All of this is going to pay off my overdraft. Once I'm totally out of the red I'll start paying off my credit card.

    It's such a good feeling being in control. I'm putting everything into my spending app and tracking every pound
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • louby40
    • By louby40 5th Jul 16, 8:12 AM
    • 1,163 Posts
    • 3,173 Thanks
    louby40
    Yesterday was my first NSD, I want to try and get 10 this month.

    I'm feeling pretty confident that I may not even dip into my overdraft this month now, the eBay selling and the £100 for switching accounts have really made a difference. Staying in the black is my TOP priority for July and August. Hopefully I should have a buffer by then and can start with the CC.

    My son is having his hair cut today so that's £8, plus I know we need milk. 3 litres gone since Saturday! Boys they are like locusts!!

    Have a good Tuesday everyone
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • tori.k
    • By tori.k 5th Jul 16, 9:01 AM
    • 2,896 Posts
    • 6,519 Thanks
    tori.k
    I found it was all about getting the SOA to balance was the key to it all, your doing amazing it took me 6 months of rejigging the budget to take in account for the little things like the husband hair cuts are every 6/8 weeks where I can stretch it out for 4/5 months.

    You're off and running
    Debit to Credit (stage 1) 3652.34 completed 15/10/16
    Debit to Credit (stage 2) 6299.09 completed 25/06/17
    Last Castle 150,000/ 25300
    • louby40
    • By louby40 6th Jul 16, 4:58 PM
    • 1,163 Posts
    • 3,173 Thanks
    louby40
    Had to spend a bit more today. £4 for a Zumba class and had to draw £50 out as I'm going to London with my OH. We do this quite a lot so I need to budget for this from now on as this is one of the causes of me being overdrawn.

    We usually stay in a Travelodge which costs us £60 for one night and have got a 2 together railcard which makes the train cheaper. But it still comes to nearly £100 (£50 between us) then we will eat out and see a show. This weekend (well Frid/Saturday as we're only staying one night) is all paid for but I need to definitely plan this in now.

    I'm still in the black so far and the switch to a new account has gone well.
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • louby40
    • By louby40 7th Jul 16, 7:54 PM
    • 1,163 Posts
    • 3,173 Thanks
    louby40
    Second NSD! Yay!

    Got a busy weekend ahead in London for 24 hours at a festival. Got to buy food and drinks but have accounted for it.
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • tori.k
    • By tori.k 7th Jul 16, 10:13 PM
    • 2,896 Posts
    • 6,519 Thanks
    tori.k
    Have a great time Louby
    Debit to Credit (stage 1) 3652.34 completed 15/10/16
    Debit to Credit (stage 2) 6299.09 completed 25/06/17
    Last Castle 150,000/ 25300
    • ramblehan
    • By ramblehan 7th Jul 16, 10:20 PM
    • 400 Posts
    • 924 Thanks
    ramblehan
    Hey Louby sounds like things are going great. Have a great time at the festival
    Ramble x
    • louby40
    • By louby40 9th Jul 16, 6:01 PM
    • 1,163 Posts
    • 3,173 Thanks
    louby40
    Hi

    We had a fab time and I came back with £5! Spent £60 in Aldi, bang on budget. Meals this week:

    Sat (tonight) cottage pie
    Sun. Lamb ( bought from slaughter house by OH) & veg
    Mon. Broccoli & Stilton soup crusty rolls
    Tues chicken burgers & wedges
    Wed. Egg on toast
    Thur lasagne and salad
    Fri curry

    Also today had to buy my son some shorts and trainer socks.

    Still on track and in budget.
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • louby40
    • By louby40 10th Jul 16, 9:45 AM
    • 1,163 Posts
    • 3,173 Thanks
    louby40
    Going to have to go out today and buy some birthday cards and get my prescription sorted. Bit disappointed with the lack of NSD so far, only achieved 2!


    Still on the plus side my eldest son (16) has a got a little job in a local pub working in the kitchen. It's just veg prep and washing up, he's going tomorrow night 6 - 11pm for his first shift! It's minimum wage so not great money, but he'll earn more in 5 hours there than sitting in his room playing on his X box! Hope he sticks to it as he could end up with lots more shifts!


    Lamb in the oven and 2 loads of washing done. Dull and miserable here, no chance of pegging out.


    12 days till we go on holiday to Spain but going to be a very busy 2 weeks leading up....youngest son going to Paris with school....decorating to finish.....carpet being fitted.....sorting out holiday clothes & packing........sorting out my classroom ready to hand it over to my colleague and then begin moving into another classroom....
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • louby40
    • By louby40 10th Jul 16, 3:00 PM
    • 1,163 Posts
    • 3,173 Thanks
    louby40
    I've realised my spending app on my phone isn't accurate, because I'm actually logging EVERYTHING I log cash withdrawals then log something I've bought with the cash at the supermarket for example. So my balance is actually less than is in my account.

    dont know how to manage this??
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • louby40
    • By louby40 11th Jul 16, 6:16 PM
    • 1,163 Posts
    • 3,173 Thanks
    louby40
    If I pay for something with eBay sales am I still spending?
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • ramblehan
    • By ramblehan 11th Jul 16, 8:18 PM
    • 400 Posts
    • 924 Thanks
    ramblehan
    Hi Louby,
    In YNAB you set up a cash account - so you move money from your 'bank' account into a 'cash' account, and then record your spends against the cash account when you spend it if that makes sense. Can you set up a 2nd account in there you could call the cash account?

    However, even then we find it confusing as I am perpetually worried that we may have money in cash but forget and spend it on the card - where all the money in the bank is allocated to other things,....so we tend now to do as much as we possibly can by card, and I only use the cash account if we're taking out fun money for a trip to the pub or something similar.

    Ref the ebay question - I would say yes it is still spending, because if you forget / ignore what you buy with that money, then if you ever review your spends, those costs would be invisible. I always record the profit in as a credit, and then debit out what I've bought. I usually buy gifts with mine, so if I didn't do it this way, my gifts budget would look like it is smaller than I need.

    Hope that makes sense - you probably need to decide how to best make the systems work for you (which could be different to how I do it!)

    Ramble x
    • louby40
    • By louby40 11th Jul 16, 10:05 PM
    • 1,163 Posts
    • 3,173 Thanks
    louby40
    Thanks Ramble, I need to work out what to do.


    Is YNAB really worth it? It seems complicated (from what people have said) but I finish work next week for the holidays so will have time to watch some tutorials/webinairs etc and get my head around it. I know loads of people say its really good.


    How much is it after the free months trial?


    Louby
    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 £233
    Car loan £2890 Mortgage £95,391
    TOTAL DEBT (with mortgage) = £109,024 (without mortgage) = £13,633
    • AnxiousHomemaker
    • By AnxiousHomemaker 11th Jul 16, 10:53 PM
    • 64 Posts
    • 135 Thanks
    AnxiousHomemaker
    Hi Louby, love the meal plans, this is definitely something I need to get back into, used to do them every week but we got abit content and it just stopped!

    Glad you enjoyed the festival xx
    No one is going to stand up at your funeral and say
    'she had a really expensive couch and nice shoes'

    3-6 months emergency fund #58: £15/£500
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