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  • FIRST POST
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 5th Jul 16, 12:59 PM
    • 197Posts
    • 384Thanks
    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 14
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 10th Jul 17, 9:36 AM
    • 197 Posts
    • 384 Thanks
    little_miss_spendtoomuch
    £200 went onto my credit card this morning bringing the balance down to £400.
    My total debt is now £2000

    I need a car. My new house is kind of out in the sticks. It was the only way we could afford a house. Originally I wanted a car to get me to the station everyday but my train ticket is already over £400 a month
    I'm not in walking distance of the station and there isn't a bus so my husband has been giving me a lift but it's two hours earlier than he needs to leave for work.

    I've been looking for new jobs nearby and have an interview this week. If I get the job I will need a new car asap.
    I don't know whether to buy brand new on finance or borrow from my bank or buy a really cheap old car or what. I haven't had a car for years coz I haven't needed one. I don't even know what cars are good.
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
    • abba1772
    • By abba1772 10th Jul 17, 2:04 PM
    • 3,552 Posts
    • 9,236 Thanks
    abba1772
    Car finance is dear so perhaps check with your bank as my friend just done this and was offered a car loan of 2.9% much better than the car finance deal which was 18.9% so it's better to shop about xx
    NEXT TARGET HALIFAX CC WAS £3572.57 NOW £3529.52
    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 £3076.97 / £6000
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 20th Jul 17, 7:15 AM
    • 197 Posts
    • 384 Thanks
    little_miss_spendtoomuch
    Moving house is exhausting! Every evening has been spent unpacking, tidying and sorting.
    We had quite a long snagging list so workmen have been coming round everyday and it's hard to get straight with work ongoing.
    We will get there eventually.
    The good news is I haven't spent much! We have bought a couple of bits of furniture but already had money saved.
    Had a nasty shock on Tuesday when our first mortgage payment came out! I thought it was coming out the 1st of each month but it turns out it still is so that's over 2k in two weeks luckily we just had enough in our account to cover it.
    Going to look at cars on Saturday
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
    • enthusiasticsaver
    • By enthusiasticsaver 20th Jul 17, 7:52 AM
    • 3,659 Posts
    • 6,549 Thanks
    enthusiasticsaver
    Car finance deals are expensive so don't be browbeaten into taking out an expensive pcp deal without researching first to see if cheaper way of doing it.
    Debt and mortgage free and saving for early retirement
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 20th Jul 17, 1:19 PM
    • 197 Posts
    • 384 Thanks
    little_miss_spendtoomuch
    Thank you. I'm weighing up my options at the moment. Looking at second hand and new. Had an appointment at the bank on Monday and talked about loans so lots to think about!
    May 2015: £11685.56 / June 2017: £2200
    Credit card 1: £600
    Pay back : £1600 / £1800
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