Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • ab_saver
    • By ab_saver 18th Sep 16, 11:04 AM
    • 56Posts
    • 130Thanks
    ab_saver
    New Grad DFW
    • #1
    • 18th Sep 16, 11:04 AM
    New Grad DFW 18th Sep 16 at 11:04 AM
    Hello MSE-ers,

    I'm a mid 20s new grad after 6 years of uni and now employed

    I just have the pesky issue of my overdraft and CC to sort out.
    At it's worst, my total debt was about £2300 (never really had a lightbulb moment but racked it up living as independent adult before 1st month's pay, and on 3 months studying abroad, which I don't regret a jot).
    Currently I have:
    £498.18 CC
    £1243.88 OD
    Total: £1742.06
    (plus £22k student loan but let's not go there as I'm just planning on letting it come off with PAYE from April next year and not thinking about it).

    Good news is there's money coming in.
    £630ish old student house deposit to be returned soon (hopefully this week).
    £83 guarantor service rebate (they told me it was due and haven't paid twice so hopefully will arrive ASAP)
    £20ish overpaid bills on old place
    £20 owed by mum for vch I bought her
    £6 in charges in error bank have promised to refund

    £2k ish (will find out exactly how much on the day as had a bumper 1st payslip last month) due on 28th

    Plan is to pay CC with returned deposit and keep it hidden away until payday and hopefully beyond.
    Hope to keep spending to absolute minimum until next payday. Having big shop delivered today so hopefully only milk/bread needed until then. After payday will join the October supermarket challenge. I'm going out for a meal on Weds but only burgers so should be cheap.
    I estimate that I'll have about £1000 left to pay off by payday. After rent/bills etc, my disposable income is about £1000 - so any spending will go back on the OD.
    I'm hoping to clear £600 (i.e. only be £400 overdrawn) by end October payday, and be in the black by November payday.
    My £400 spending budget for October is as follows:
    £120 food (for me and OH - I'll aim to be below £100 as my cupboards are currently well stocked).
    £90ish contents insurance (I should have done this 2 months ago but kept putting it off because of the expense. Found a deal with cash back I plan to get as soon as payday is here)
    £50 cash/spending (to include treats like coffees (allowed on 13hr long days only!))
    £50 travel expenses (OH split between here and another city ~1.5h away)
    This leaves £90 for other expenses (which may have to include a £55 bike service I've also been putting off but needs doing before weather gets really bad).
    Under this umbrella - £36.99 one off payment to gym including joining fee (£16.99/mo dd after) - this is a concession to my health both physical and mental.

    I have a list of 'treats' and hope to pick one a month - most of them are practical. On the cards after payday are: a pannier bag for my bike, and waterproof gloves to cycle in as weather gets colder (both of which I'm justifying as much needed!!). Estimated total cost (< £50) - so if the bike survives without a service I'll have these instead.

    I have banned new clothes (except tights) etc. until Jan sales at v earliest.

    If I can pay off £600 this month and the next that puts me up £200 and in the black! That's the plan - DF by November.

    Long term:
    Once I'm solidly out of OD, plan to upgrade bank acc so I get in credit interest and other perks - aim November.
    Close student CC and get a rewards one pre Christmas (and before I book expensive flights to see parents who live overseas) (thinking JL) - aim november if credit looks good enough
    Open Help to Buy ISA - aim November / December
    Open regular saver - aim December/January

    Savings goals:
    £10k+ towards house deposit by mid 2018
    £50/month into holidays fund
    £100/month into wedding/life event/big purchases fund

    I'm mostly writing this down here to hold myself accountable (I know from fitness and food tracking that the mere act of documenting your habits gives a very powerful nudge to get them in order. That said, feel free to comment (is my spending outrageous??), but please be kind to me - I'm new to living like a grown up (and council tax ).
Page 1
    • ab_saver
    • By ab_saver 18th Sep 16, 4:21 PM
    • 56 Posts
    • 130 Thanks
    ab_saver
    • #2
    • 18th Sep 16, 4:21 PM
    • #2
    • 18th Sep 16, 4:21 PM
    So today was even more spendy than planned.

    Went on a sanity stroll and ended up in the little waitrose and got a reduced counter haul for £2.93. (I did get the free coffee and magazine though).

    Hoping for LSDs/NSDs this week. Am allowing myself a coffee tomorrow or (hopefully not and) Tuesday as have 13h days at work. I should get bonus points on my costa card and will have enough for a free one for my next round of longs at the end of the month.

    So hopefully this week will be mostly NSDs, with an LSD, and a spendy day the day I go out for dinner. I'm also planning to spend £5 for a day pass to the gym I'm planning to join to make sure it's not a huge mistake.

    I'm planning to ban myself from all the little mini-supermarkets near me (even the reduced counters at the end of the day) until next weekend, as there literally cannot be anything else I need. I'm also considering putting sticky notes on the cupboards saying what's in each one so I don't forget, and I use things up before I buy them (except for a promo code online shop to be done at the end of this month).

    Planning a frugal cottage pie (half price mince, bulked out with lentils) to do dinner tonight and lunches for the foreseeable future. Thinking of slow cooker curries for later in the week - but don't trust it when I'm going to be out of the house for 14 hours... (any advice appreciated as OH usually the slow cooker whiz but not around this week).
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
    • louby40
    • By louby40 18th Sep 16, 7:02 PM
    • 456 Posts
    • 984 Thanks
    louby40
    • #3
    • 18th Sep 16, 7:02 PM
    • #3
    • 18th Sep 16, 7:02 PM
    Keep posting. We can see how you do and keep you motivated.
    Sept 16 - Barclaycard £540 0% First Direct £870 0% Parents £2995 = £4405
    Aug 16 - Barclaycard £668 0% First Direct £900 0% Parents £3295 = £4863
    Car loan £5803 Mortgage £100,883
    • Littlebirdie
    • By Littlebirdie 18th Sep 16, 9:20 PM
    • 63 Posts
    • 79 Thanks
    Littlebirdie
    • #4
    • 18th Sep 16, 9:20 PM
    • #4
    • 18th Sep 16, 9:20 PM
    Hello,

    Two years ago I was just liked you fresh out of Uni. Although my debt was £4000! I found this website really helpful to keeping me on track and saving money. I really like your goals and determination - I've subscribed �� Good luck!
    Overdraft: £1215.10/£2000
    Aim to be cleared by October 16!
    • ab_saver
    • By ab_saver 19th Sep 16, 9:16 AM
    • 56 Posts
    • 130 Thanks
    ab_saver
    • #5
    • 19th Sep 16, 9:16 AM
    • #5
    • 19th Sep 16, 9:16 AM
    Thanks for your support guys! I find the diaries here great for inspiration and ideas. Do either of you have diaries I could follow?

    So: last night's giant batch bake made a whopping 14 portions- had to do a bit of freezer Tetris.

    I've made myself a mega lunch for work today (including a portion of cottage pie!) so aiming for no spending on food (but allowing myself a coffee today OR tomorrow. I forgot my emergency can of coke today so may well be today).

    OD slightly bigger as DD for energy went out today- planned expenditure so not worried. Do need to pay last bill from old provider (one that came with my flat).

    Jobs for today include chasing guarantor service for my £83 back!!

    It was a bit chilly this morning so I think those gloves might be moving from a want to a need - I've seen the pair I want which are currently half price so just need to see if available cheaper elsewhere. As the weather is dry I can wait until payday- must remember to pack my 'fashionable' non waterproof ones tomorrow.

    As an aside (yet another) friend from uni got engaged at the weekend- OH and I would like to but can't afford it (he is full time grad student) and if we have a few grand would rather put it towards a house together. At least we agree on that though.
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
    • ab_saver
    • By ab_saver 19th Sep 16, 10:57 PM
    • 56 Posts
    • 130 Thanks
    ab_saver
    • #6
    • 19th Sep 16, 10:57 PM
    A big budgeting error...
    • #6
    • 19th Sep 16, 10:57 PM
    So... some progress made today - but feels like one step forward another step back at the moment.

    Low spend day - £4.25 ( monthly £2 contribution to office tea fund, £2.25 on coffee)

    Progress made - rang guarantor people and they'd had a typo with my bank details (even though I checked again and the ones I sent them were right ) - so that's £83 that should be back soon
    Payment of deposit authorised today so should be back with ex housemate by end of week and my share to me shortly after.

    Work ok - aside from coffee bought no snacks (I took so much food I a) didn't finish it and b) don't need dinner - unheard of!).

    Realised I forgot to budget for a rather major expense - a holiday at the end of October!
    We got free eurostar tickets as delay compensation, but because of OH's situation being in flux, we aren't yet 100% sure we can go so haven't booked accommodation etc yet.
    Plan at present is to stay in airbnb for most if not all of the week and bring snacks and cook to cut costs - found some places for £44/night plus fees that look nice and have good reviews. Even that would be £300 for the week (between us not total). I do have some credit in airbnb account to use against that though. Attraction costs would be minimal as almost everything free for U25s so other costs would be food and transport. I imagine it'd probably be about £250-300 each all in, which was NOT in the original budget...

    Another major expense is union fees which will come out by yearly DD in October and are well over £100 - I think there might have been an option to change to monthly DD so will look into that.

    I am still desperately keen to be DF by November and stay in the black throughout it. My October pay will come in whilst on holiday... so I have to fund all this out of pay that's about to come in. I think if I'm (very very very) careful I might still manage it.

    I think the areas I'll 'borrow' from to fund holiday are travel (probably won't visit OH at his place next month and will have to ban 'frivolous' trips on public transport (I usually cycle anyway to be honest). Also food spending - If I could get in under £100
    including supplies to take on holiday that would be a result. OH has offered to buy next big shop here and if he does my food spends should be v low indeed -but feel guilty as he's paid for a lot of late).
    Contents insurance - will get cheapest quote and cash back so hopefully will be less than £90 but it needs doing and I'm not waiting any longer than payday.
    General/other/treat spends will have to absorb some more. As discussed above, waterproof gloves are becoming a need but will shop around a bit more and see about 2nd hand on fleabay. Other bike accessories and service will have to wait (if my bike breaks whilst I continually put this off it'll be sod's law in action!!).

    By my original plan- I would end november with £200 in bank acc -now my target is to just break even - that allows £200 of extra spends for holiday and everything else will just have to be found by belt tightening.

    I'm thinking:

    5 NSDs a week except for hols week (this excludes rent/bills paid by DD - BUT includes groceries, travel and literally everything else)
    Avoiding town/eating out as much as feasible (I do anyway but will really make a point of it - and since I am going to insist on gym for sanity and health maybe could go to gym every time I get cabin fever and get fit instead of skint!)
    Putting spending money for hols on revolut card and operating a when it's gone it's gone policy.
    Any further suggestions welcome!!

    My £400 spending budget for October is as follows:
    £120100 food (for me and OH - I'll aim to be below £100 as my cupboards are currently well stocked).
    £90ish contents insurance (I should have done this 2 months ago but kept putting it off because of the expense. Found a deal with cash back I plan to get as soon as payday is here)
    £50 20 cash/spending (to include treats like coffees (allowed on 13hr long days only!))only away from home coffee allowed will be free on on points on card if they ever appear!
    £50 travel expenses to go into holiday fund (OH split between here and another city ~1.5h away)
    This leaves £90 140 for other expenses and holiday AND union fees (which may have to include a £55 bike service I've also been putting off but needs doing before weather gets really bad).
    Under this umbrella - £36.99 one off payment to gym including joining fee (£16.99/mo dd after) - this is a concession to my health both physical and mental.

    Any extra holiday money will have to come from the OD but I'm hoping not more than £150 extra including spends whilst on hols

    So... how unrealistic am I being?
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
    • ab_saver
    • By ab_saver 20th Sep 16, 10:11 PM
    • 56 Posts
    • 130 Thanks
    ab_saver
    • #7
    • 20th Sep 16, 10:11 PM
    • #7
    • 20th Sep 16, 10:11 PM
    So today has been a GOOD moneysaving day.

    1. NSD #1 (Since I started counting) - excluding energy bill from old supplier
    2. £83 back from guarantor service - 3rd time lucky
    3. Bank (Lloyds) rang back - and as well as reversing the charges made in error put a £50 goodwill gesture in my account (£56 total)
    4. I phoned my union who changed my DD from annually to monthly - subs just under £10 a month so much more manageable (and it works out same over a year rather than being more expensive)
    5. Late last night / in small hours of this am I looked up waterproof cycling gloves and found some that look suitable for £9.99 with free delivery and cash back - so they can be a payday spend

    So overall I'm feeling optimistic. Tomorrow is my spend day (hopefully the only one until payday next Wednesday) - I'm aiming to keep it under £20 all in (£15 if I do really well). Aside from the gym day pass, I'm planning to get £10 out, add it to my assortment of coins, and put the card away for the rest of the day. All the direct debits etc for this month have gone out so I now have a clear picture of how it'll be. I'll post an update of affairs the night before payday.
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
    • ab_saver
    • By ab_saver 21st Sep 16, 11:03 PM
    • 56 Posts
    • 130 Thanks
    ab_saver
    • #8
    • 21st Sep 16, 11:03 PM
    • #8
    • 21st Sep 16, 11:03 PM
    Today was NOT a good moneysaving day.

    It was a planned spend day and spends were as follows:

    £5.99 gym day pass (well worth it - was there for an hour and a half, really liked it)
    £2 staples
    £2.99 padlock
    £25.55 birthday present for OH's sister (did get 10% off and cash back though)
    £0 card for OH sister (used one from my stash and had stamps)
    £5.90 coffee and cake (went to JL thinking I had a voucher, didn't realise it's not valid until October until it's too late )
    £12.20 dinner out with friends

    Total spent: £55.63

    In slightly better moneysaving news - did get paid back £20 from mum, and have asked to have £7.57 cash back sent by BACS.

    I also got a load of supermarket vouchers - on discussion with OH we might spend a bit more this month to stock up for Christmas (effectively at 20% discount) - so I'm setting (my) budget at £100 for this month with scope for up to £50 of pre-Christmas spends. This might be madness, but I'd rather get a discount now then have to go back into the overdraft in December.

    In better other news, OH has confirmed that we can go on holiday after all. Turns out I did want to go as I was practically in tears when there was a misunderstanding meaning we might not have been able to. OH absolutely on board with the idea of being frugal on holiday, keen to do airbnb and cook, bring snacks etc from here. We are going to be in 2 places so aim to be mostly in airbnb and maybe top secret hotel for night or two. Cost of getting to london to get free eurostar is - to the point where we are considering the sleeper (1st class sleeper for 2 might be a bit cheaper than standard fare plus cheap hotel).

    So feeling good about holiday, good about gym, not so good about spends, not so good about holiday spends. Saturday is now going to be a spend day as I've arranged dinner with friends - it'll be a bit of relaxation after what promises to be a hectic day. Will get lunch provided though.

    I'm starting to feel like I haven't allowed enough for these sorts of spends and as such am getting further and further off track. Other than dinner out I'm going to have to be positively angelic until payday. As for beyond payday... I'm going to try and be sensible about holiday and extremely restrained otherwise.
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
    • enthusiasticsaver
    • By enthusiasticsaver 21st Sep 16, 11:25 PM
    • 2,146 Posts
    • 3,781 Thanks
    enthusiasticsaver
    • #9
    • 21st Sep 16, 11:25 PM
    • #9
    • 21st Sep 16, 11:25 PM
    Good that you have a plan but perhaps the holiday should have waited for a bit until debt cleared. Still onwards and upwards and hope that you manage to reach your goals.
    Save £12k in 2016 #46 £13600/£12,000
    Debt and mortgage free and saving for early retirement
    • ab_saver
    • By ab_saver 21st Sep 16, 11:44 PM
    • 56 Posts
    • 130 Thanks
    ab_saver
    Thanks enthusiasticsaver - I agree ideally I wouldn't be paying for a holiday and it'd all go to the overdraft but decided to go for it for a couple of reasons.

    1. Eurostar tix were free as compensation for a delay last year - we waited as long as possible and booked them on the last day we could - for use within 6 months only. The ones we booked would have cost about £300 had we paid for a standard non-flexible fare. Decided this was an opportunity too good to pass up.
    2. Due to both my and OH's work situations, getting time off together is almost impossible and this may be the only opportunity we get for a week off together for a long time (indeed, except when I was studying abroad and he came to visit we have *never* been on a week's holiday in 5.5 years!)
    3. OD is interest and fee free as new grad - if I were paying for it I would absolutely be clearing it ASAP. I know it won't stay like this forever though and want to be in the black and saving for the future in the new year.

    So I do feel like a massive hypocrite in spending money on 'wants' not 'needs' in my present situation, but that is how I have justified it to myself. As I previously discussed, this previously up in the air want has to be financed by cutting back on essentially all other wants in the near future.
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
    • ab_saver
    • By ab_saver 22nd Sep 16, 8:45 AM
    • 56 Posts
    • 130 Thanks
    ab_saver
    Geared up for NSD today - huge packed lunch, slow cooker on.

    Found out about death of a friend of a friend yesterday - been dwelling on it a bit but must try not to. Shattered as only had 5.5 hours sleep - a combination of getting back later than expected, a bit of a bombshell, and reading diaries on phone in bed when I couldn't sleep.

    I did get quite a few Christmas ideas in town, so I now have a bit of a list... just need to stay on budget! I also need to budget for Jan sales shopping as I'm not planning to get a tree etc until then and get it all reduced after the event.
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
    • ab_saver
    • By ab_saver 22nd Sep 16, 7:49 PM
    • 56 Posts
    • 130 Thanks
    ab_saver
    NSD today!

    -Had a bit of a rough day at work and had a little cry but all ok and didn't spend any money to make myself feel better.
    -Slow cooker dinner ongoing - I was worried about it drying out especially as I left work an hour late. If anything I now have the opposite problem.
    -I finally managed to get bounts connected to my fitness apps - I always walk more than 7000 steps so should get a small something every day and even if I don't get a voucher until next Christmas it's better than nothing.
    -I still need to do some more sorting for Saturday - plan to do so in front of TV once I've sorted the kitchen out.
    -I managed to politely decline my university's phone campaign (that was quick!) to donate towards scholarships for disadvantaged students - I would like to in the future when I'm more financially secure - I'll donate my own money not the bank's

    Had some ups and downs today (tired and emotional on minimal sleep) but at the end of it (sorry this is so soppy and saccharine but here goes) I'm so grateful to have my nearest and dearest, that they are well, and money can't change that. Money can't change sorrow of friend who lost their OH or how lucky I am to have mine (even if he is hundreds of miles away at a conference). We are able to plan a future together and that does require money and sensible choices - and we are so fortunate to have that where others have it so brutally taken from them.

    So after my little existential wallow - I am so grateful to be going on holiday with OH and having rare quality time together. I'm also kicking myself for the fact that I may miss my goal of clearing the overdraft by Nov.

    Thinking into the future, I've made a Christmas list, I have put a budget next to each person, and I have started looking at things. I'm going to start getting things from payday but only if a) they are on the list and b) they are on an offer that is likely to vanish if I wait. I have some supermarket vouchers and some of my gift ideas could be bought from one so that's being considered. I don't want to go too wild though because of 1. overdraft 2. holiday

    Thank you to anyone who got through that stream of consciousness!
    To quote enthusiasticsaver (and no doubt many others) - onwards and upwards.
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
    • ab_saver
    • By ab_saver 23rd Sep 16, 7:08 PM
    • 56 Posts
    • 130 Thanks
    ab_saver
    Another NSD today.

    Other good things:
    -£7.51 cash back received today
    -£5.90 in overpaid bills from student house back (a bit less than I'd hoped for but ah well). This went straight into my emergency fund as it was money I never expected to get back anyway
    - Tomorrow's dinner will be subsidised so the cost should be pretty minimal. Got some cash out (including a shiny new fiver) and planning to only spend that.

    I've been looking at my spending for this month to try and make a more detailed budget for next month and 2 things became apparent:

    1. If the deposit comes back and is as much as it should be (deductions already agreed with agency) I should be less than just over £1000 overdrawn the night before payday with the card paid off
    2. A lot of my spends this month have been on things that I won't repeat e.g. £200 to a friend for 2 years' worth of communal internet, new phone (old one died 2 weeks before last payday and I tried to buy a dumb phone but my simcard won't work in 2g phones!), paying off old suppliers' bills when on 2nd month of direct debits to new one (energy account nearly £90 in credit with new suppliers) - or things that I repeat infrequently and can build envelopes for into my monthly budget in future - concert tickets (£60 for me and OH but he bought dinner so it balanced out) and climbing multi-visit pass (£130 but should last until the new year at the very least)
    So £700ish was on spends not to be repeated, and £180ish on spends to be done infrequently (and maybe budgeted for over about 4 months).
    Without those things going out, my (approximate) (non-bill) expenditures this month haven't been too outrageous:
    £175 food (for me and OH - AND my freezer is very full as I used a series of 20% off for new customers vouchers with Mr W)
    £85 travel
    £19 trip to zoo!
    £10 music
    £25 gift
    about £18 other spends
    £38 eating out (pending meal out tomorrow)
    Totalling £370ish

    With ample scope for tightening the belt considerably, I'm feeling optimistic about next month. I'm planning to have more detailed categories (e.g. a pot for gifts/Xmas) so I don't feel guilty about foreseeable spends that got lumped in the general category.

    5 more days to payday - and only planning one more spend day (tomorrow).
    Last edited by ab_saver; 23-09-2016 at 7:36 PM.
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
    • ab_saver
    • By ab_saver 23rd Sep 16, 7:36 PM
    • 56 Posts
    • 130 Thanks
    ab_saver
    Quick update:
    Deposit back with friend - my share should be back by Monday.
    Unfortunately £100 got lost in my excitable mental maths and the overdraft will still be the wrong side of £1000... ah well.
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
    • Jumblerina
    • By Jumblerina 24th Sep 16, 8:11 AM
    • 106 Posts
    • 298 Thanks
    Jumblerina
    You're doing so well ABS it's the little things that add up, planning holidays really helps your debt journey. We all need to live a little while we pay or debts, I've just started a holiday fund on the recommendation of a few people on here. It's really motivating keep up the great work!

    Jumblerina xxx
    • ab_saver
    • By ab_saver 24th Sep 16, 8:33 AM
    • 56 Posts
    • 130 Thanks
    ab_saver
    You're doing so well ABS it's the little things that add up, planning holidays really helps your debt journey. We all need to live a little while we pay or debts, I've just started a holiday fund on the recommendation of a few people on here. It's really motivating keep up the great work!

    Jumblerina xxx
    Originally posted by Jumblerina
    Thanks jumble - I think without it I'd go insane. Because it's at 0% it's not world-ending if I don't quite make my target but I'd be so happy if I could. In the process of writing a detailed budget for next month and keep saying that each category has a limit not a target! This month it was the little things that I didn't account for that cropped up and they really do add up!

    It's nice to have all the reassurance and support here.

    Hoping for a low spend day today (meal out but subsidised).
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
    • ab_saver
    • By ab_saver 24th Sep 16, 11:07 PM
    • 56 Posts
    • 130 Thanks
    ab_saver
    Planned spend day today.

    Total of £17.90 on dinner and drinks out after big event.
    Hoping for 3 NSDs in a row to get me as far as payday.

    Found out about a big work pre-Christmas party that'll be £55-60 a head
    Will have to budget that in this coming month or next.

    There's also potentially a conference on that I'd like to go to in December and would be good for work/CV but I'd have to pay for myself - that's £340 Not yet decided what to do about this one...

    Budget in progress - will see what I can work out....
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
    • ab_saver
    • By ab_saver 25th Sep 16, 7:11 PM
    • 56 Posts
    • 130 Thanks
    ab_saver
    A good day today!
    NSD #4 since I started counting.

    Had a good chat with OH and he is also keen to be frugal on holiday - and he offered to do our next big shop, which would include our non-perishable supplies for our holiday.
    I've also made a few good spots for his Christmas presents.

    I'm making progress on the budget front and on payday (Weds) I plan to share it here - for some slightly odd reasons I won't know exactly how much I'm being paid until the day - only a ballpark figure.

    I've also done some more thinking about long-term goals once I'm back in the black.
    I think my aim 10k towards a deposit in a year and a half is probably reasonable - especially since I will get a considerable pay rise next August and aim to continue living almost as I am now and put almost all the extra straight into savings (with the logic being that I won't miss it!)
    I also hope to set up some other savings pots:
    Emergency fund (funded by save the change)
    Wedding fund 100/month
    Holiday fund 50/month
    Big ticket item fund 50/ month

    If I'm currently able to clear the overdraft at a rate of approx £400/month (more details on that on payday where I'll do an end Aug vs end Sep comparison, then I should be able to put that amount into savings - e.g. £200/month into HTB ISA, £200/month into regular saver. My online banking has a way of setting up multiple savings envelopes in the same account so that's something to look into. My current source of pondering is that it'll take me a while to get the £1200 you can put in to open the account in the first month - but I'm wondering if I'm better off starting to save sooner and having the money put away than waiting to accrue the £1200 to make the most of that.

    This is typical me - loads of plans for money I don't have yet....
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
    • ab_saver
    • By ab_saver 26th Sep 16, 10:23 PM
    • 56 Posts
    • 130 Thanks
    ab_saver
    Another good day...

    NSD #5

    Got my £635.80 deposit back from old place. Immediately paid off CC so balance of that now £0.00 (FYI I always pay off in full anyway)
    Barring any spends tomorrow, my finances are now in their pre-payday state (and though it could be better I'm pleased with what I've done with my first month's proper pay).
    DFW - aiming to be clear Nov '16__________ NSDs Sept 16 5/7 Oct 16 _ /18_____ October supermarket challenge £0/100
    £1000 emergency fund #208 - £5.93/ 1000 _ Next: 10k towards a house deposit by mid 2018!
Welcome to our new Forum!

Our aim's to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

236Posts Today

1,570Users online

Martin's Twitter