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  • FIRST POST
    • louby40
    • By louby40 17th Jun 16, 7:57 AM
    • 720Posts
    • 1,795Thanks
    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
    970 cc (just moved to 0% which I shall pay 50-100 a month off)
    5500 left on my car loan (ends in Jan 2019)
    106,000 mortgage at 600 pm

    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 Lidl 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; 11-09-2016 at 3:01 PM.
    Jan 17 Barclaycard 0 First Direct CC 1100 0% Parents 1825=2925
    Sealed Pot Challenge 10 #572 Debt free by Xmas 2017 #32 545/3442
    Car loan 4830 Mortgage 99,330
Page 8
    • louby40
    • By louby40 25th Sep 16, 6:05 PM
    • 720 Posts
    • 1,795 Thanks
    louby40
    Good weekend.

    Not much spent, 65 on food for the week. It seems to be going up not down and there are only 3 of us living here now my eldest son is living with his dad for 5 days. We did buy wine & beer though!

    We went walking yesterday, 8 miles and felt great afterwards.

    Today I've sold a few things on ebay and got 40 which will go straight to pay the cc. That's 84 in 2 weeks. Would love it to be gone by Christmas then I can concentrate on the second one. Still working towards my debt free date of July 2017!
    Jan 17 Barclaycard 0 First Direct CC 1100 0% Parents 1825=2925
    Sealed Pot Challenge 10 #572 Debt free by Xmas 2017 #32 545/3442
    Car loan 4830 Mortgage 99,330
    • louby40
    • By louby40 28th Sep 16, 8:57 PM
    • 720 Posts
    • 1,795 Thanks
    louby40
    :Payday today so paid towards quite a few things. Bit confused with my Barclaycard as I have used it but paid straight back from my salary, I've also sold quite a bit on ebay, plus cashed out some surveys so I think the 371 figure may go down a bit more.

    If I could pay 124 every month until December I could have my Barclaycard paid off. My emergency fund will be 500 by Christmas so I could leave that for the time being and start paying 200 a month off my First Direct cc. That could be paid off by April.

    But Christmas madness will soon begin and everything goes a bit haywire. So, we shall see. My Christmas fund won't be quite enough.

    But my debt is now BELOW 4K!!!!
    Jan 17 Barclaycard 0 First Direct CC 1100 0% Parents 1825=2925
    Sealed Pot Challenge 10 #572 Debt free by Xmas 2017 #32 545/3442
    Car loan 4830 Mortgage 99,330
    • SpekySquarehead
    • By SpekySquarehead 29th Sep 16, 10:08 AM
    • 1,100 Posts
    • 8,403 Thanks
    SpekySquarehead
    Well done Louby on getting below 4k.

    I know you've a lot of spinning plates and various things to save for but provided you've budgeted for it, it'll work out.
    Debt Free Date: 29/09/16
    Savings Target by July '17 = 2,650/5,000
    NSD (9/15)
    • Poor_Single_lady
    • By Poor_Single_lady 29th Sep 16, 10:19 PM
    • 558 Posts
    • 1,541 Thanks
    Poor_Single_lady
    Under 4k is amazing. Hope you are celebrating and making lots of lovely plans for the future. Now it starts with a 3 its a lot more achievable. Can you see the end? xxx
    Debt at June 2016 14,600
    2017 pay off loan and first credit card
    Have less debt and be happier
    • tori.k
    • By tori.k 30th Sep 16, 8:22 AM
    • 2,607 Posts
    • 5,655 Thanks
    tori.k
    Amazing Louby, it's all coming together well done
    Penny saver 40.95/671.61
    Debit to Credit (stage 1) 3652.34 completed 15/10/16
    Debit to Credit (stage 2) 1676.00 /7663.
    • louby40
    • By louby40 30th Sep 16, 9:23 AM
    • 720 Posts
    • 1,795 Thanks
    louby40
    Thanks everyone!

    Yes I can see the end. I still have my car loan to pay but I need to start updating my house. I've lived here 18 months now and I need to start spending on it a bit.

    It's 12 years old and still has original (pale cream carpet) I need a new bathroom, kitchen, carpet throughout and decorating done.

    I can't start until I've got my debt to zero. By next April/May June time I'll have 500 extra to either save or put towards a home improvement loan. But I want a BIG emergency fund before I do that.

    There is light at the end of the tunnel.
    Jan 17 Barclaycard 0 First Direct CC 1100 0% Parents 1825=2925
    Sealed Pot Challenge 10 #572 Debt free by Xmas 2017 #32 545/3442
    Car loan 4830 Mortgage 99,330
    • ramblehan
    • By ramblehan 1st Oct 16, 9:41 PM
    • 378 Posts
    • 830 Thanks
    ramblehan
    Well done Louby - you are doing AMAZING!

    Ramble x
    LBM June 2015: 24025.75!
    The big bad three:22,034 8.8% down 91.2% to go:
    Tax savings: 400/1800
    'Very little is needed to make a happy life' Marcus Aurelius
    • louby40
    • By louby40 3rd Oct 16, 7:31 AM
    • 720 Posts
    • 1,795 Thanks
    louby40
    My eldest son moved back home over the weekend, so that's back to 4 of us now not 3.

    He didn't like the college and living with his dad didn't work out too well. Anyway he's managed to get into another college on the same course, it's a bus journey away but he's sorted it out himself so it's obviously what he wants.

    Most bills have gone out this morning. Things are looking pretty tight but I'm just throwing everything at my Barclaycard and my car cost me 210 for a full service (long overdue not had it done for 2 yrs) and MOT - it passed!! yay! So other things have to give - like buying clothes and going out!

    Sold the last of my ebay bits which came to about 15. I doubt there's much more in the house to sell now. But over the summer I reckon I've made well over 300 by selling unwanted stuff.

    Anyway off to wake the kids up!
    Jan 17 Barclaycard 0 First Direct CC 1100 0% Parents 1825=2925
    Sealed Pot Challenge 10 #572 Debt free by Xmas 2017 #32 545/3442
    Car loan 4830 Mortgage 99,330
    • reality_check
    • By reality_check 3rd Oct 16, 1:10 PM
    • 397 Posts
    • 649 Thanks
    reality_check
    I've been reading your diary but never actually left a comment I don't think...Amazing news about hitting the 3's, the final countdown is on! At least your son realised now the course wasn't for him and was able to change, and you'll be glad that he's home even thought I am sure he eats you out of house and home!!

    All the new home improvements to come will be even nicer knowing they are paid from your own hard earned money and not owed to anyone else...be here before you know it xxx
    • louby40
    • By louby40 3rd Oct 16, 7:41 PM
    • 720 Posts
    • 1,795 Thanks
    louby40
    Thanks RC, I'm feeling very positive. It's not always easy but I'm determined to get there!
    Jan 17 Barclaycard 0 First Direct CC 1100 0% Parents 1825=2925
    Sealed Pot Challenge 10 #572 Debt free by Xmas 2017 #32 545/3442
    Car loan 4830 Mortgage 99,330
    • Poor_Single_lady
    • By Poor_Single_lady 3rd Oct 16, 9:40 PM
    • 558 Posts
    • 1,541 Thanks
    Poor_Single_lady
    Very much agree with Reality Check. Some of my debt is home improvements, but the next work shouldn't be. I love what I've done but I wish I wasn't paying for it for the next 2 years.
    Hope your son is ok, its so hard being young and making choices that impact the rest of your life. I would not want to be 18 again.
    Please keep us updated on your barclaycard and everything. Its so good to see that people do actually get to the end and it is possible. xxx
    Debt at June 2016 14,600
    2017 pay off loan and first credit card
    Have less debt and be happier
    • louby40
    • By louby40 6th Oct 16, 6:03 PM
    • 720 Posts
    • 1,795 Thanks
    louby40
    I think I've over stretched myself this month.

    I've been so obsessed with paying my cc off that I've left myself short in my actual day to day budget. I've thrown loads of money at my debt and I'm going to have to dip into my overdraft for the first time in months.

    I haven't budgeted for coffee money at work 25
    Christmas work function deposit 10
    Extra expenses due to getting out of my phone contract 20
    Money towards my sons bus travel 120 (3 months)
    Printer ink 25

    I think I need to slow down and have money so I can actually live. It's 9 days till I get my child benefit and 20 days till payday.
    Jan 17 Barclaycard 0 First Direct CC 1100 0% Parents 1825=2925
    Sealed Pot Challenge 10 #572 Debt free by Xmas 2017 #32 545/3442
    Car loan 4830 Mortgage 99,330
    • reality_check
    • By reality_check 7th Oct 16, 1:11 PM
    • 397 Posts
    • 649 Thanks
    reality_check
    It's so hard getting it right isn't it. In the dream would I would like an emergency fund, and also a contingency fund with maybe 250 in it for things like that, basically my own overdraft... I have tried this but I either dip into it as don't stick to my budgets as I know I have that money sitting there or I have it for a few weeks then decide to throw it at the debt as that makes me happy at the time and then left in the same situation as you.

    Do you have an emergency fund? xx
    • louby40
    • By louby40 7th Oct 16, 6:23 PM
    • 720 Posts
    • 1,795 Thanks
    louby40
    I have 200 in my EF, 250 in my Christmas fund and 120 in my home renovation fund.

    I had to use 200 of my EF in the summer to pay a plumber to fix a leak, so am starting again. Once it's at 500 I shall stop & throw the 100 a month at my cc instead.

    My debt is so small really I just want it gone. I'll be 500 a month better off by then.
    Jan 17 Barclaycard 0 First Direct CC 1100 0% Parents 1825=2925
    Sealed Pot Challenge 10 #572 Debt free by Xmas 2017 #32 545/3442
    Car loan 4830 Mortgage 99,330
    • louby40
    • By louby40 12th Oct 16, 10:01 PM
    • 720 Posts
    • 1,795 Thanks
    louby40
    Mad crazy at work and some issues with my eldest, so haven't been on here for a while.

    100 into my overdraft but my own fault for trying to get my debt down too quickly. Luckily no charges on the first 250. Payday is 13 days away but I do get my child benefit on Monday which will tide me over.

    So need to take stock in November and calm down. I need to live as well as pay my debts off.
    Jan 17 Barclaycard 0 First Direct CC 1100 0% Parents 1825=2925
    Sealed Pot Challenge 10 #572 Debt free by Xmas 2017 #32 545/3442
    Car loan 4830 Mortgage 99,330
    • tori.k
    • By tori.k 13th Oct 16, 8:41 AM
    • 2,607 Posts
    • 5,655 Thanks
    tori.k
    Finding that balance is the truth of it.
    Penny saver 40.95/671.61
    Debit to Credit (stage 1) 3652.34 completed 15/10/16
    Debit to Credit (stage 2) 1676.00 /7663.
    • ramblehan
    • By ramblehan 13th Oct 16, 9:43 PM
    • 378 Posts
    • 830 Thanks
    ramblehan
    Amen to living and paying off debt. You will get there - and a month or two on top of your DFD won't be something you remember in the long run xx
    LBM June 2015: 24025.75!
    The big bad three:22,034 8.8% down 91.2% to go:
    Tax savings: 400/1800
    'Very little is needed to make a happy life' Marcus Aurelius
    • Cailbhinn
    • By Cailbhinn 16th Oct 16, 9:58 AM
    • 88 Posts
    • 262 Thanks
    Cailbhinn
    Best of luck louby. I'm a DFW n00b and enjoy reading these diaries. Gives you some perspective and insight and to how other people are coping with debt. Re: forgotten spends - couldn't you put these on to your budget on YNAB?
    Starting Debt (31 Oct 2016) - 12,956 | Current Debt (31 Oct 2016) - 12,956 (0% paid)
    • louby40
    • By louby40 16th Oct 16, 12:27 PM
    • 720 Posts
    • 1,795 Thanks
    louby40
    Hi yes they're all on my YNAB - there is a lot of red on there this month. Once I get paid, YNAB can be sorted. So much for me paying 125 off my Barclaycard for the next 3 months - it will be more like 5 in November lol

    Skint this month I've just spent too much basically.
    Jan 17 Barclaycard 0 First Direct CC 1100 0% Parents 1825=2925
    Sealed Pot Challenge 10 #572 Debt free by Xmas 2017 #32 545/3442
    Car loan 4830 Mortgage 99,330
    • Cailbhinn
    • By Cailbhinn 16th Oct 16, 6:21 PM
    • 88 Posts
    • 262 Thanks
    Cailbhinn
    Hi yes they're all on my YNAB - there is a lot of red on there this month. Once I get paid, YNAB can be sorted. So much for me paying 125 off my Barclaycard for the next 3 months - it will be more like 5 in November lol

    Skint this month I've just spent too much basically.
    Originally posted by louby40
    With it coming up to the dreaded C word, I think my Nov/Dec YNAB will be an ugly shade of red and minimum CC payments only those months. I read earlier that it's a 'marathon and not a sprint'. Sums it up nicely and as YNAB says - 'roll with the punches'.
    Starting Debt (31 Oct 2016) - 12,956 | Current Debt (31 Oct 2016) - 12,956 (0% paid)
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