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    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 5th Jul 16, 12:59 PM
    • 201Posts
    • 403Thanks
    little_miss_spendtoomuch
    Must stop spending
    • #1
    • 5th Jul 16, 12:59 PM
    Must stop spending 5th Jul 16 at 12:59 PM
    Hello,

    I have been reading these threads for a few years now and been in debt most of my adult life.
    Until 2015 I was living way beyond my means and spending too much on credit cards so my debt was always increasing. In May 2015 I finally stopped and started to pay off my debt.
    In May last year my debt was at it's highest of £11685. I got a new job which helped me to make a dent and today my debt stands at £7647. Over the year I was also saving for my wedding abroad which has been and gone but I now have two more holidays booked. I know it's not sensible to go on holiday when I have debt but I need something to look forward to! My holidays just gone was the first time I have actually saved and paid for a holiday without putting it on a credit card.
    I currently pay around £300 each month dd to my 2 cards but am going to increase this to £550 a month to clear the debt sooner. I'm also putting £250-£300 a side for my two holidays. One is our honeymoon.
    I guess I'm starting this diary to keep motivated. I have been at this stage before where I want to stop spending and pay big chunks off but a few weeks later I am back where I started.
    Enough is enough now though and I want to get it cleared.
    I'm 30 and we want to move from our flat to a house and start a family.
    Really hoping that by doing this diary it will help me keep track of my spending and then I will see where those pennies disappear to each month...
Page 12
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 31st Mar 17, 7:06 AM
    • 201 Posts
    • 403 Thanks
    little_miss_spendtoomuch
    £100 dd went onto cc2 today bringing that card down to a nice round £2000. My total debt is now £3600 with my £300 dd due to go onto cc1 next week
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 3rd Apr 17, 7:20 AM
    • 201 Posts
    • 403 Thanks
    little_miss_spendtoomuch
    Monday again?!
    We had a lovely weekend but it went too fast. On Friday night we went for dinner with 2 friends. It was lovely to catch up as we haven't see them for a while. I spent £11.50 on my meal and drank tap water. I actually prefer water to most soft drinks but I always look like I'm being tight for drinking it.
    On Saturday we had to get a taxi to and from the party which cost me £10 and we took a bottle of wine we already had at home.
    Last night we went over to our friends house for a takeaway pizza which cost me £5. So in total the weekend cost me £26.50 which I don't think is too bad!
    I hadn't seen our friends house before but it's lovely and has given me some ideas for our new home.
    I think that's it for socialising for a few weeks now. My birthday is coming up and then our holiday so I need to be careful with what we are spending. Plus I ate so much rubbish over the weekend I don't feel great today and all my holiday clothes need to fit me in a months time. So from now I'm concentrating on the gym and eating healthy and keeping that money in my bank account.
    My dd of £300 will be going out on Thursday
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
    • bma14
    • By bma14 3rd Apr 17, 11:59 AM
    • 77 Posts
    • 177 Thanks
    bma14
    You're doing so well! I totally concur with that feeling - especially when you are working hard to bring in a wage and you feel like none of it is yours and feel guilty about spending anything not on the debts!

    Good news is you are so close And just need to think really hard and focus on how AMAZING it will feel when all of your money is your money!!

    Keep going you can do it xx
    Total Debt January 2017: £2,001 Total Debt end of July 2017: £525.05 (75% paid off)
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 4th Apr 17, 7:12 AM
    • 201 Posts
    • 403 Thanks
    little_miss_spendtoomuch
    Thank you so much bma! I really appreciate your support these boards are amazing and it's so great knowing there are people out there in a similar situation to me and we are all there for each other x
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 6th Apr 17, 7:06 AM
    • 201 Posts
    • 403 Thanks
    little_miss_spendtoomuch
    £300 direct debit has gone out on cc1 this morning bringing the card total down to £1300.
    I've got £2000 on cc2 so my total debt is £3300.
    I've paid £700 towards my debt this month £700!!
    I'm finding it quite hard at the moment. It's really getting me down that I'm still in debt. I just keep thinking what I could do with this money I'm paying off each month. £700 is so much money

    Part of the terms of my new mortgage was to have my debt cleared before we complete on our new house. Originally our house was due to be finished in June and if that is still the case I have no chance of paying it off in time.
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
    • abba1772
    • By abba1772 6th Apr 17, 8:20 AM
    • 3,743 Posts
    • 10,619 Thanks
    abba1772
    We had those kind of conditions on our mortgage offer........in the end there was no way we could clear all of the debts they wanted but when we spoke to our mortgage provider they were happy with what we had cleared which was a £1000 credit card my Argos card and there was something else I'm sure as well as my very account which was the thing we wouldn't clear in time xx

    Are you doing it through a broker???
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £5607.10
    POAMAYC 2011 £6382.66 POAMAYC 2012 £5000.78
    POAMAYC 2013 £3480.04 POAMAYC 2014 £4085.14
    POAMAYC 2015 £7565.24 POAMAYC 2016 £8000.90
    POAMAYC 2017 £4114.16 / £6000
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 6th Apr 17, 5:10 PM
    • 201 Posts
    • 403 Thanks
    little_miss_spendtoomuch
    Hey abba I remember you saying before that you had to pay off debt for your mortgage.
    We have gone through a broker yes.
    We applied for our mortgage in December and I have paid of £2k since then. Hopefully they will be ok about it but if I'm honest I really wanted my debt gone before we moved. I wanted a fresh start and for the stress to be gone and to start a happy new chapter in our new home. I really thought our flat sale would go through quicker and our flat would have gone in January and by living with my parents (for free) that I actually stood a chance of paying it all off
    If anything, now I want the completion to be delayed just so I can take advantage of my parents genorousity and clear more debt.
    We do have spare money from the equity of our flat but we wanted to use that money to buy another car. We only have one between us and the new house is in the middle of nowhere so we need a car each. It's not my husbands debt so I won't take our joint money to clear my debt. I guess a positive is that we at least have the money so if our mortgage lenders say it has to be cleared then I could borrow from our equity money and then pay it back like I am my credit cards.
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
    • abba1772
    • By abba1772 6th Apr 17, 8:53 PM
    • 3,743 Posts
    • 10,619 Thanks
    abba1772
    That's good that you have that option so try not to stress too much about it xx
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £5607.10
    POAMAYC 2011 £6382.66 POAMAYC 2012 £5000.78
    POAMAYC 2013 £3480.04 POAMAYC 2014 £4085.14
    POAMAYC 2015 £7565.24 POAMAYC 2016 £8000.90
    POAMAYC 2017 £4114.16 / £6000
    • bma14
    • By bma14 7th Apr 17, 9:33 AM
    • 77 Posts
    • 177 Thanks
    bma14
    Yeah don't worry too much as you have options. If your OH is ok with it and the lenders are really fussy you could also maybe take the money to clear the debt from the equity and with your money you would have otherwise used to repay the debts you could pay installments on the new car? With a large enough deposit on a hire purchase car your repayments wouldn't have a lot of interest to pay either I don't think? Just a thought! You're doing really well so just keep plodding away x
    Total Debt January 2017: £2,001 Total Debt end of July 2017: £525.05 (75% paid off)
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 10th Apr 17, 8:27 AM
    • 201 Posts
    • 403 Thanks
    little_miss_spendtoomuch
    Thanks both
    I spoke to hubby over the weekend and he's ok about me taking the money to clear my cards. When we bought our flat together I was very silly and bought a lot of our furniture and food shopping on my credit card which is the half the reason I got into so much debt. So although he may not have agreed to all my purchases, it was still stuff we both wanted for the flat which I'm still paying for.

    So happy it's a 4 day week! It's my birthday at the weekend and only 3 weeks until our holiday
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
    • enthusiasticsaver
    • By enthusiasticsaver 10th Apr 17, 12:28 PM
    • 4,227 Posts
    • 7,612 Thanks
    enthusiasticsaver
    I think it is sensible to clear the cards and you can concentrate your efforts on building the savings back up again which is much more rewarding.

    Having fallen into the pitfall of overspending when you moved into your flat be wary of doing the same in your new house when you get in. Spending on credit with a larger mortgage is not a good move.
    Countdown to early retirement on 31.12.17 3.5 months to go.
    • bma14
    • By bma14 10th Apr 17, 4:14 PM
    • 77 Posts
    • 177 Thanks
    bma14
    That's great and very sensible and understanding of hubby you will feel a lot better once you have a clean slate and can focus on rebuilding the savings pot x
    Total Debt January 2017: £2,001 Total Debt end of July 2017: £525.05 (75% paid off)
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 10th Apr 17, 5:07 PM
    • 201 Posts
    • 403 Thanks
    little_miss_spendtoomuch
    Thanks enthusiastic saver. Once my cards are clear I'm chopping them all up. The last two years of paying off debt has been hard and I've definitely learnt my lesson.

    Thanks bma14 it will definitely be easier and more rewarding putting money towards savings rather than paying off debt.

    I just want to be able to pay as much off as I can before I take the money to clear the rest. It sounds crazy but I kind of feel like I'm cheating by taking the money rather than paying it off myself.

    Our new house isn't really near anything and I have to get the train to London for work everyday. We will be about 5 miles from the nearest train station so I have to get a car soon or I'm relying on hubby for a lift everyday. I get the train 6.30 am so I can't do that to him for long!
    Ideally I would like a new job closer to home.
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
    • Florence J
    • By Florence J 10th Apr 17, 9:27 PM
    • 1,577 Posts
    • 8,902 Thanks
    Florence J
    I understand the feeling of wanting to clear the debts yourself without taking money. As much as I wouldn't refuse an unexpected lottery win, I think deep down I would be disappointed if I paid off my debts in that way.

    BUT I'm sure I speak for everyone when I say that this is the best way of clearing the debts and to do otherwise would sort of be like cutting off your nose to spite your face.

    There is no right or wrong way to become debt free, you have worked hard enough, now you can focus on your future
    Sealed Pot Challenge 10 #553 (£90) Wombling free 2017 = £1505.37 Pay off all your debts by Xmas 2017 #53 (£2743.11/£3000) Debt to OH paid back £1120.95/£1120.95
    September 2017 Credit Card Debt: £4344.96
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 11th Apr 17, 8:41 AM
    • 201 Posts
    • 403 Thanks
    little_miss_spendtoomuch
    I understand the feeling of wanting to clear the debts yourself without taking money. As much as I wouldn't refuse an unexpected lottery win, I think deep down I would be disappointed if I paid off my debts in that way.

    BUT I'm sure I speak for everyone when I say that this is the best way of clearing the debts and to do otherwise would sort of be like cutting off your nose to spite your face.

    There is no right or wrong way to become debt free, you have worked hard enough, now you can focus on your future
    Originally posted by Florence J

    Thanks Florence It's weird isn't it... I actually feel like I need to punish myself by paying it off but I should be grateful I even have this option!
    Once paid off and we have moved in and settled I'm going to concentrate on saving.
    We spoke to the site manager yesterday and they said our house is due for completion in May. EEP
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 13th Apr 17, 9:48 AM
    • 201 Posts
    • 403 Thanks
    little_miss_spendtoomuch
    4 day weekend woop plus it's my birthday weekend!
    No Big spends planned this weekend which is good. Hubby is taking me for dinner on my birthday. On Sunday we are visiting family for a roast dinner and Monday morning we are meeting friends for breakfast.
    I'm hoping to get some vouchers for my birthday so I can get my shopping fix.
    I bought myself some new gym trainers last week because I go to the gym 3-4 times a week and my current ones are about 6 years old. They were on a £20 off promo but still cost £80! Eep. Anyway my brother has kindly sent me a £100 voucher for my birthday so I have ordered the trainers again with the voucher and will return the original pair. That's good of me right? The old me would have kept the pair I bought and just bought more clothes!
    Had to buy birthday treats for work this morning. Spent £6 nothing compared to what the other people in my team usually spend. At least it's only once a year!
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
    • kirtsypoos
    • By kirtsypoos 13th Apr 17, 10:32 PM
    • 2,948 Posts
    • 13,108 Thanks
    kirtsypoos
    Happy Birthday LMSTM
    £470/3000 OH BC(84.33% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £470/31010.23 (98.48% paid)
    Mortgage - £161,995.00 (2017 O/P £1729.74) PAYDBX 17 #006 - £16166.98/14,539.71
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 18th Apr 17, 5:09 PM
    • 201 Posts
    • 403 Thanks
    little_miss_spendtoomuch
    Thank you Kirtsypoos I had a lovely day. Spend the day with hubby and had an amazing meal in the evening. He surprised me with presents (without going too much over budget). Our budget was about £60 but he treated me to a pair of Pandora earrings and said it was a tanks for all the effort I've put into the sale of our flat and purchase of new home
    I got vouchers from family but didn't see anything I wanted to buy! Ha!
    I'm waiting for the £80 refund to go back into my account for the trainers.
    Our next payment of £125 went out our joint account today for our storage of our furniture. I owe our joint account £80 so as soon as it comes in it's moving.
    My parents have gone on holiday for 3 weeks so we are back to buying our own food again at home it was awesome while it lasted!
    Hoping to make it to the end of the month!
    We went and peeked at our house at the weekend and it looks like it could be ready very soon. All painted inside but no roads which could be an issue!! I'm hoping for a June move in so I can continue to pay off my debt with my own money.
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
    • thegirlinthegreenscarf
    • By thegirlinthegreenscarf 18th Apr 17, 5:24 PM
    • 39 Posts
    • 79 Thanks
    thegirlinthegreenscarf
    Ynab?
    Sorry, what's ynab?
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 26th Apr 17, 5:16 PM
    • 201 Posts
    • 403 Thanks
    little_miss_spendtoomuch
    It's pay day tomorrow!! which means my cc direct debits will be going out shortly which means my debt is soon to be below £3k!! Woo
    Until we get more news on the house I'm going to keep making my normal £400 payments each month. I'm hoping to be able to put some money aside this month for when we move.
    This feels like the longest week at work ever! Hubby lent me £200 to see me through to the end of the month. I've not spent all of it luckily but need to pay him back tomorrow when I get paid.
    Can't wait for the long weekend and I go on holiday next week!!
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
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