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    • Flowers123
    • By Flowers123 24th Jul 16, 5:42 PM
    • 127Posts
    • 269Thanks
    Time to sort my finances out
    • #1
    • 24th Jul 16, 5:42 PM
    Time to sort my finances out 24th Jul 16 at 5:42 PM
    I am in my mid 20's and I've decided to sort my finances out finally. I am lucky enough to own my house but I have a loan and 2 credit cards which have built up from frivolous spending on holidays and clothes and going out. My total debt excluding my small mortgage is £18,900 and I have nothing to show for it.
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    • jvr
    • By jvr 10th Feb 17, 8:18 AM
    • 247 Posts
    • 886 Thanks
    Hi flowers

    Even though I am scrimping by I do have a £40 yoga membership that I use at lunchtimes, it makes such a difference to how I feel and I think that's important as well. Not sure where you are but are there any of those discount gyms that are pretty basic but do the job?
    Credit cards: £6000 now £4650 aim to be debt free (ignoring mortgage and student loans) by Dec 2017
    • Flowers123
    • By Flowers123 13th Apr 17, 6:28 PM
    • 127 Posts
    • 269 Thanks
    Oops, I've been a bit lazy and I've not updated my diary for a long while.

    Debt busting hasn't really happened. I'm still where I was 2 months ago. £20,100

    However, I have painted my house in every room and I've managed to get some second hand furniture. I've started advertising on @irbnb too and I've got my first guest next week. I did think about getting a permanent lodger but I really want my own space plus I could earn as much on @irbnb anyway but it does require more effort. I've had a key box fitted so guests can enter themselves and then I'm offering a continental breakfast as I don't have the time to do a full English with working full time.

    Work has been very up and down. I always doubt myself and feel like I'm not good enough, there has been so much to learn I have only just started earning commission which is why I haven't really made any overpayments to my debt. At least it's not increased

    I'm still plodding along with the surveys but I do find they take a long time to build up any funds.

    I'm looking forward to the summer as I can have bbq in my gorgeous garden and I've got a cheap holiday this summer in the UK. Slightly different to my usual trip but needs must.

    I'm off to work out a budget which I'm completely useless at
    • Flowers123
    • By Flowers123 14th Apr 17, 4:27 PM
    • 127 Posts
    • 269 Thanks
    So I had a NSD yesterday and a NSD so far today

    I've got £50 to last until payday on the 24th and I've got enough food to last but I will need some fuel. This weekend I'll visit some family for Easter but I suspect it's going to be a boring weekend as all my friends are with their partners.

    I haven't sorted my budget out yet. My wage varies every month so I may have to work a budget out each month when I get my payslip, that will enable me to budget for all my bills and then I will work out fuel money and food money. Any extra money I make is either going to go towards debt or in my savings. I have done one thing and worked out I need to save around £100 pm for car insurance, MOT etc, home insurance, tv licence as I want to be able to pay everything in full next year.

    Oh I forgot to mention I have been doing Pilates and i feel loads better. Going to start doing it once a week instead of getting a gym membership. I will need to budget for this.

    I'm off to sort the garden out as it is so overgrown!
    • Flowers123
    • By Flowers123 15th Apr 17, 9:51 AM
    • 127 Posts
    • 269 Thanks
    Good news is that I managed a NSD yesterday.

    Slight panic this morning. I ordered something off Amazon and must of some how ended up signing up to their Prime service and they have debited £79 from my current account this has put me into my overdraft which I'm slightly annoyed about but Amazon are refunding me so I'm hoping I won't get charged any overdraft fees as the money hasn't actually debited my account yet. Fingers crossed.

    I may have to spend a bit of money today as I'm out with the family enjoying the lovely long Easter weekend so I will contribute as we are going out for lunch. Looking to budget around £10-£15 max for this. I will get some tap water or a tea so that will save some pennies.

    I am thinking of doing a car boot or garage sale this summer. I have loads of items that aren't worth selling on eBay and i would usually give them to charity but as i am i have this hideous amount of debt I need to try and do anything to dig myself out of the hole
    • Flowers123
    • By Flowers123 15th Apr 17, 4:26 PM
    • 127 Posts
    • 269 Thanks
    Yay, I have managed a NSD thanks to my family. They offered to pay for me so I have not spent a penny today. Hopefully tomorrow will be the same as we are going to a family members for lunch. I said I would return the favour this summer and have everyone over for a bbq.

    Just going to have a nice cup of tea then I'll start working out a budget on my minimum pay. I should really do a SOA but I find it so difficult when my incomings and outgoings are all over the place! Probably why I'm in debt
    • Flowers123
    • By Flowers123 17th Apr 17, 10:20 PM
    • 127 Posts
    • 269 Thanks
    So yesterday I spent 89p on some milk but no other spends.

    Today I have spent £25.19, this was for a cheap lunch, £6.50 car parking as I met some friends in Birmingham and I didn't realise how expensive it was to park there (I'll be parking up and walking in next time) I then bought a simple strappy top for £2 and the rest of my spends was on some fresh food. I am quite pleased with my spends over the Easter weekend, I resisted going out with friends for expensive drinks but my family seem to be getting a bit worried that I'm becoming a hermit but I did explain I want to save money. They don't know the extent of my debt and I don't want to tell them. I'm determined over the next few years to gradually pay of as much as I can.
    Payday is next week and it can't come soon enough, I need my payslip so I can work out how I am going to do my budget and then I'll post it on here. I've worked out my previous budgeting wasn't really working so I'm going to have to set myself a realistic budget every month. Some months I will give myself extra funds if I have social plans or need to buy something.

    Can't believe how fast the weekend went. I have no motivation for work at the moment. I'm hoping it comes back to me soon! Flowersx
    • blue_eyed_girl123
    • By blue_eyed_girl123 19th Apr 17, 12:55 PM
    • 15 Posts
    • 9 Thanks
    Hi Flowers123,

    I've just been reading your diary and I wonder if you've considered piggy-banking? I've got a bills account for all my direct debits, a groceries/toiletries/petrol account, a spending money account and a savings account.

    I allocate amounts for each on payday and then you might find it easier. I have apps for all mine so I can keep an eye on it. Takes a bit of setting up but can be easier in the long run .
    • Flowers123
    • By Flowers123 20th Apr 17, 6:49 PM
    • 127 Posts
    • 269 Thanks
    Hi blue eyed girl. That is a really good idea. I am so useless at budgeting and just seem to go round in circles. I have a number of current accounts (some I have never used) and I have random direct debits in each of the accounts so it is hard to keep track of. I will look at sorting out my current accounts and have one of my account purely for spending money.

    I'm definitely going to be staying in this weekend. It's been a 5 weekend month so my finances are stretched and I have filled up with fuel which cost £45 but this should last until the end of next week. Payday next week can't come soon enough!!
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