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  • FIRST POST
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 5th Jul 16, 12:59 PM
    • 229Posts
    • 460Thanks
    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
    • 229 Posts
    • 460 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 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • abba1772
    • By abba1772 10th Jul 17, 2:04 PM
    • 3,952 Posts
    • 11,971 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 July 17 £3572.57 NOW £4773.56
    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 £6047.65 / £6000
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 20th Jul 17, 7:15 AM
    • 229 Posts
    • 460 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 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • enthusiasticsaver
    • By enthusiasticsaver 20th Jul 17, 7:52 AM
    • 4,680 Posts
    • 8,870 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.
    4 weeks to go until early retirement in December . Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 20th Jul 17, 1:19 PM
    • 229 Posts
    • 460 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 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 7th Aug 17, 7:07 AM
    • 229 Posts
    • 460 Thanks
    little_miss_spendtoomuch
    £100 dd went onto my cc this morning bringing my debt down to £300.
    I've got £400 saved towards the £1800 I borrowed from our savings.

    I bought a new car! A new car on finance. I know a lot of people will think I'm mad but I weighed up my options and this was he most affordable and I got a good deal. Problem was the insurance. I have 7 years no claims but because I haven't been a policy holder for he last 5 years I have lost them so my insurance is a lot more than I was anticipating

    I got a pay rise on Friday! I got offered a new job closer to home but more hours. When I told my current job I wanted to leave they offered me a pay rise
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • abba1772
    • By abba1772 7th Aug 17, 6:53 PM
    • 3,952 Posts
    • 11,971 Thanks
    abba1772
    That's fab news about the pay rise well done

    Know what you mean about the car insurance me and hubby will need to take it in turns to take out the car insurance sales so we don't lose our new claims xx
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £4773.56
    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 £6047.65 / £6000
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 8th Aug 17, 7:08 AM
    • 229 Posts
    • 460 Thanks
    little_miss_spendtoomuch
    That's a really good idea about taking it turns!! Wish I had known
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 6th Sep 17, 5:14 PM
    • 229 Posts
    • 460 Thanks
    little_miss_spendtoomuch
    £100 went into my credit card today which brings my total 'official debt' down to £200.
    I still owe our savings about £2000 - I've saved £500 so far.

    It's a lot harder now. Now that essentially I'm just paying myself back I don't have the same determination as I did when the debt was on credit cards.

    My train ticket is a lot more expensive now. £435 a month!

    We have been buying bits for the house but nothing on credit cards so only buying it when we can afford it.

    We've done well. So much better than when we moved into our flat. I got into so much debt back then.
    We still have some money saved back and really haven't bought much. We have used all our furniture from our flat. Luckily it all fit!

    We've booked another holiday! For next year. So that will be three in a row to Disney. Oops.

    So again each month will be a combination of saving for holiday and clearing debt.
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • abba1772
    • By abba1772 7th Sep 17, 8:12 AM
    • 3,952 Posts
    • 11,971 Thanks
    abba1772
    Ouch to the train ticket that's a lot of money xx
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £4773.56
    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 £6047.65 / £6000
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 9th Sep 17, 8:07 PM
    • 229 Posts
    • 460 Thanks
    little_miss_spendtoomuch
    It's awful isn't it! It's 30 minute train into London how can it cost that much?? It's used to be £330 before I moved towns

    I sometimes wonder if it is actually worth going to work!

    Ordered some new lights for our living room today. Will hopefully get them up next weekend. Just working out things to go on the walls and stuff. We need shelves and hooks to help with storage.

    We've still got money in savings which I'm very pleased about.

    It's my friends daughters 1st birthday coming up and I need to get a present.

    We had £90 in our joint acc to last until my husbands pay day on 22nd. Did a weeks food shop for £40 today so we should be ok!

    Need to get back on track and start aiming for some NSD's.
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 26th Sep 17, 8:22 AM
    • 229 Posts
    • 460 Thanks
    little_miss_spendtoomuch
    Our pay day moved from the 27th to the last day of the month. This happened in May but I still haven't got used to it! So roll on Friday. I am broke! Completely run out of money this month
    I'm booked to get my hair done tomorrow which isn't cheap and I've got the dentist on Thursday.

    I know one bad spending habit is on my bad eating habit. I'm literally obsessed with chocolate and lately over the last few months I have bought a bar most days which all adds up. So I've stopped! As of yesterday. Ha. I joined a running club last night to keep me motivated. Well it's an 8 week running course which cost £20. My husband gave me the cash but I'll give it back on pay day.

    As it stands I currently have £200 of official debt on one credit card. Actually that's a lie- I have £212 on my spending card but I'm clearing that on pay pay. On my debt card I have a £100 dd set up so that will be gone soon and I'm going to stop using my spending card. Christmas will be here soon and I don't want to slip back into more debt. I need to start budgeting for it.

    I owe our savings account £2476. This is from when I cleared my bigger credit card before we completed on our house and the ridiculous cost of car insurance. I currently have £500 saved up to pay back. Obviously with this debt the pressure is off coz essentially I just owe myself (and my husband) but I still don't want it hanging around forever.

    Need to start taking this seriously again and work out a plan and a budget...
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • abba1772
    • By abba1772 26th Sep 17, 12:17 PM
    • 3,952 Posts
    • 11,971 Thanks
    abba1772
    My down fall is walkers velvet crisps can eat a multi pack in one sitting
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £4773.56
    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 £6047.65 / £6000
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 26th Sep 17, 9:10 PM
    • 229 Posts
    • 460 Thanks
    little_miss_spendtoomuch
    Ooh abba it's bad isn't it. I don't even know what those crisps are but now I want to try! I'd hate to think how much I spend on chocolate. Especially London prices!
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 2nd Oct 17, 7:20 AM
    • 229 Posts
    • 460 Thanks
    little_miss_spendtoomuch
    I just found a note on my phone saying "credit card must be cleared by November". I must have written that a while ago. It's when my 0% balance transfer fee ends. I have £200 left on the card and £100 dd set to go out next week.
    I think I'll just pay the £200 and be done with it. I'll get paid again end of October but I worry about things like forgetting or often money doesn't go through quick enough. I never want to pay interest on a credit card again! I have £500 saved towards my holiday and £600 in my 'savings pay back' account so I will probably borrow from one of those. Although it's only 3 days after pay day I don't think I have the extra £100

    Good news is ill nearly be officially debt free. I just have £100 on my spending card after this which I will clear next month
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • Cumbria lass
    • By Cumbria lass 2nd Oct 17, 8:57 AM
    • 799 Posts
    • 3,868 Thanks
    Cumbria lass
    Great news , just before Christmas, well done.
    Nov 2017 CC1 £3329 CC2 £600

    Debt Free Nov 2019: earlier if I have my way
    • abba1772
    • By abba1772 2nd Oct 17, 11:49 AM
    • 3,952 Posts
    • 11,971 Thanks
    abba1772
    Go you
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £4773.56
    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 £6047.65 / £6000
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 3rd Oct 17, 9:03 AM
    • 229 Posts
    • 460 Thanks
    little_miss_spendtoomuch
    We went to a wedding last weekend in Somerset. It was great to catch up with all our friends but it wasn't cheap. We were lucky enough to be driven by our two friends which only cost us £20. I booked a cheap and cheerful hotel for £55 and we ate lunch and breakfast in the adjoining Restaurant for £40. We gave a gift of £50 cash as that's what they gave to us. Our friend drove us to and from the venue and it was a free bar!
    I wore a dress I had packed away in a box at my parents house from a wedding in 2014 and I got so many compliments for it
    So all in all it cost us £165 between the 2 of us. Even though we cut corners at every opportunity it all adds up.
    I'm proud of myself for not buying a new dress. The old me would have always bought a new outfit for something like this. It got me thinking that actually I can't remember the last time I bought a new dress for a wedding apart from my own. I have been to 4 weddings in the last year and each time I've worn a dress that I have worn to other weddings. One dress I think I have worn to 4 weddings. There's just no point spending all that money when it's just one day.

    I'm nearly officially debt free and it's down to me thinking more and being so much more sensible than I used to be.
    I used to be very materialistic but now I get more joy in spending my money on actually doing something rather than having something.
    Don't get me wrong, I love buying stuff for my house (when I can afford it) but I'm sensible and look for offers or cheaper alternatives.

    We have both saved £500 each for next years holiday so I am going to make a payment of £1000 today. If it sits in my account I'm more likely to 'borrow' it.

    I still need to cut my chocolate habit but I haven't bought any for a while. There's always copious amounts on offer at work.

    I can't believe the countdown to Christmas is now on! I've got some saving to do. I don't want to get complacent just because my credit cards are nearly clear.
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 9th Oct 17, 8:29 AM
    • 229 Posts
    • 460 Thanks
    little_miss_spendtoomuch
    I paid off the £200 to my cc last week. It's now clear! I was worried the £100dd would still go out but luckily it didn't. I will clear my spending cc in my next pay day which is ages away!! Paid £1000 towards our holiday last week too
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • enthusiasticsaver
    • By enthusiasticsaver 9th Oct 17, 8:53 AM
    • 4,680 Posts
    • 8,870 Thanks
    enthusiasticsaver
    You have done incredibly well to clear that although I know you took some from savings but it still counts. Hope you got a good deal on the car.
    4 weeks to go until early retirement in December . Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
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