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  • FIRST POST
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 5th Jul 16, 12:59 PM
    • 232Posts
    • 465Thanks
    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 16
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 1st Nov 17, 5:16 PM
    • 232 Posts
    • 465 Thanks
    little_miss_spendtoomuch
    I phoned our gas and electric suppliers today to set up a direct debit as we haven’t received a bill and haven’t paid anything since we moved in in June.
    I looked to set up an account online but the only option it gave me was £92 a month.
    £92 a month??!!!!
    Am I just really naive or am I being ripped off here? First my council tax and now this. I thought new builds were supposed to be energy efficient!

    So I phoned them. 28 minutes later we agreed on £75 a month. I could have paid less but he recommended £83 and I didn’t want to pay less than I needed to.
    I didn’t realise gas was so expensive. I never paid it in my flat and this guy reckons £50 a month is normal
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • abba1772
    • By abba1772 1st Nov 17, 5:34 PM
    • 4,015 Posts
    • 12,302 Thanks
    abba1772
    We are £80.54 a month for gas and electricity and our house is 60 years old they tried to up my monthly payments to £125 even tho I was £265 in credit .........chancers xx
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £4536.82
    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 £6784.64 / £6000
    • kirtsypoos
    • By kirtsypoos 1st Nov 17, 6:40 PM
    • 3,086 Posts
    • 13,763 Thanks
    kirtsypoos
    Currently we haven't been paying for gas for the 11 months we have been in our new build - apparently Persimmon haven't registered meters with anyone so no one can take over our gas supply but we are still using gas....go figure!!!

    In our old house I'd say we used about £35-40 a month in winter for gas but it was a 2 bed semi so I guess it's size relative....and depends how much of a cheapskate you are with the heating
    £175/3000 OH BC(94.16% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £175/31010.23 (99.43% paid)
    Mortgage - £161,000.00 (2017 O/P £3191.73) PAYDBX 17 #006 - £17,910.81/14,539.71
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 1st Nov 17, 7:03 PM
    • 232 Posts
    • 465 Thanks
    little_miss_spendtoomuch
    Oh no are you putting money aside? I had that problem in my flat. I spent 4 years chasing my gas bill to then find out when I moved that it was included in my service charge! Ugh.

    Well I hope Iím paying enough then but itís just two of us in a very small 3 bed semi and Iím very stingy with the heating! Ha.

    I gave them our readings from the day we moved in and from today and the guy said we havenít used a lot. It was about £80 in over 4 months. I hadnít had the heating on though!
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • Rachel24
    • By Rachel24 1st Nov 17, 10:02 PM
    • 98 Posts
    • 345 Thanks
    Rachel24
    Hi, I hope you donít mind me popping by. Iíve really enjoyed your diary. With regards to council tax if you live in Scotland then you would appeal it with the Assessors and you need to appeal it within 6 months. Not too sure how the process works in England though but I hope you get it sorted.
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 2nd Nov 17, 7:06 AM
    • 232 Posts
    • 465 Thanks
    little_miss_spendtoomuch
    Thanks for stopping by Rachel!
    Looks like we can do the same here too. I emailed them last week asking for them just to explain how they made the valuation and came home last night to a letter saying they had opened up a case! Boom.
    Fingers crossed I get somewhere with it. They said it can take them 4 months

    I paid £150 to my cc yesterday dropping the total of my debt to £152
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • kirtsypoos
    • By kirtsypoos 2nd Nov 17, 10:49 AM
    • 3,086 Posts
    • 13,763 Thanks
    kirtsypoos
    Yeah we are putting money aside but I have a horrible feeling it won't be enough time will tell!

    Also need to say thank you - Your post gave me a kick up the backside as I had given up contacting anyone since September as I kept getting the same answer so I spent 45 minutes on the phone to the most amazingly helpful guy at British Gas who tracked down our MPRN which had been registered against the completely wrong address I've now got to wait for the address to be changed before I can submit all my meter readings.

    Totally understand your stinginess with the heating - I'm already stressing about having to have the heating on more with a little one and what it will do to my yearly bills spreadsheet

    Fingers crossed for your valuation case too!
    £175/3000 OH BC(94.16% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £175/31010.23 (99.43% paid)
    Mortgage - £161,000.00 (2017 O/P £3191.73) PAYDBX 17 #006 - £17,910.81/14,539.71
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 7th Nov 17, 5:03 PM
    • 232 Posts
    • 465 Thanks
    little_miss_spendtoomuch
    So I had my response from the valuation office. A little quicker than I was expecting and it’s a no to changing my band.
    They gave supporting evidence which was utter rubbish.
    Compared my house to 3 other properties but they are worth over £100k more than mine and in decent areas. Are they having a laugh??
    A house exactly the same as mine on the road next to me is a band D. I’ve emailed them again asking them to clarify.
    If they refuse again then next step is to take it to the tribunal.
    All similar houses in my area are band D or even C. They have compared our house to houses nearly 3 miles away!!
    I’m not backing down. It’s £50 a month difference

    We went over to our friends house for dinner on Friday night.
    On Saturday evening we went to a Halloween/firework party. I managed to borrow an outfit which was handy.
    Our friends went all out with their outfits. They were saying things like a mask cost £20 or their boots cost £30. They were only accessories! Mad. God knows how much they spent in total.
    We took alcohol we had at home so the only cost was the taxis which was £9 each. So a pretty cheap weekend!

    Christmas is creeping up now. I have a few social events coming up with friends and work and stressing about not having enough money for it all
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 13th Nov 17, 7:00 AM
    • 232 Posts
    • 465 Thanks
    little_miss_spendtoomuch
    A while ago I received a letter from the Student Loans company saying at this rate I will pay my loan off within two years and it’s now better for me to pay direct debit. I ignored the letter for a while as my student debt is this debt I’ve always brushed to the corner. I’ve never included it in my debt even though each month I pay about £180 out of my pay. Because it comes straight out of my salary I don’t really notice it. To pay by direct debit would make the debt feel more real.
    I read the letter again over the weekend and it all makes sense now. The loan company don’t get all my payments for the year until after the tax year ends and if I keep paying out of my salary I will end up over paying my loan. So I’m going to phone them at lunch and work out what my balance is and set up a direct debit.
    I think I owe just over £2k. I will round the payment up to £200 and hopefully by this time next year it will be gone.
    Feel really sorry for hubby though coz he went to uni a year after me when all the fees went up. He then struggled to find a job with a decent salary and his loan is still at £15k
    Not looking forward to my debt figure looking bigger but will be pleased to take control of this debt and see an end to it.
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 14th Nov 17, 6:56 AM
    • 232 Posts
    • 465 Thanks
    little_miss_spendtoomuch
    I phoned the student loans company yesterday and arranged to pay £200 pm dd. It wonít start til February though and my salary payments could stop by December so I might have two months of not paying it. If that happens I will pay that money towards my other debt.

    We were given £1000 compensation from our builders for problems we have had and the cheque has cleared today. We are going to use it to pay towards our holiday in May. We have known for ages we were getting it but they were very slow in paying it.

    Iíve got £122 in the bank to last until the end of the month and lots of things coming up with friends
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 30th Nov 17, 7:55 PM
    • 232 Posts
    • 465 Thanks
    little_miss_spendtoomuch
    Old habits die hard. I canít stop spending
    Iíve been out of control lately. I just keep ordering stuff online. Black Friday weekend was the worst. I donít know whatís wrong with me at the moment.
    Good thing is I have returned most of it!
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 5th Dec 17, 10:52 AM
    • 232 Posts
    • 465 Thanks
    little_miss_spendtoomuch
    Train ticket dilemma...

    I already pay an insane amount to travel to work each month but as of 2nd January my fares go up

    I currently pay £435.90 a month which is going up to £451.20. That’s £15.30 more each month.
    I know that’s not loads but it adds up over the year.
    Obviously it would be cheaper to buy an annual ticket but I don’t have that sort of cash.
    Before 2nd January an annual ticket costs £4540 which is £378 a month. From 2nd January the ticket is going up to £4700 which is £391 a month.
    Both the annual options are a lot less than what I currently pay. Obviously if I was to get an annual ticket I would get it to start from 1st Jan even though I’m not back at work until the 2nd.
    Problem is I don’t have £4540.
    So these are my options...
    1. I deal with the price increase and just pay £451 a month.
    2. I use an empty cc with a cash transfer offer at 2% transfer cost but 0% interest and buy the £4540 ticket with a £90 charge.
    3. I apply for a new cc with 0% interest and charge and buy the £4540 ticket. I might not get accepted and I might not get enough credit.

    2 of those options involve debt

    What should I do???
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
    • AleMrsT
    • By AleMrsT 5th Dec 17, 11:55 AM
    • 548 Posts
    • 1,358 Thanks
    AleMrsT
    Personally i would go with option 2 then use the money you are already paying out on travel per month to pay off the CC asap, once the amount is paid, then save up as much as possible for an annual pass for 2019.

    That is so much money on travel!!
    Debt @ LBM Nov 2014 £7586.85
    Start of DMP Jan 2015 £7202.85 now £4348.60 (£2854.25 PAID)
    Italy 2018 £2103.44 now £0 (Thanks PPI!)
    Christmas shopping budget £167.51 (plus £47.21 Amazon vouchers/survey vouchers) / £150
    Emergency Fund £0/£600
    Christmas 2018 £0/£400
    • abba1772
    • By abba1772 5th Dec 17, 12:13 PM
    • 4,015 Posts
    • 12,302 Thanks
    abba1772
    Your train fares are ridiculous you would be cheaper running a car proberly xx
    NEXT TARGET HALIFAX CC WAS July 17 £3572.57 NOW £4536.82
    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 £6784.64 / £6000
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 5th Dec 17, 12:46 PM
    • 232 Posts
    • 465 Thanks
    little_miss_spendtoomuch
    Itís mad isnít it!!! Itís because I work in central London.
    Driving wouldnít be an option as there is nowhere to park and there is the congestion charge too. Ugh.

    My travel used to be £3500 before I moved which was still loads!
    May 2015: £11685.56 / November 2017: £2076
    Credit card: £302
    Paid back : £700 / £2476
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