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  • FIRST POST
    • ab_saver
    • By ab_saver 18th Sep 16, 11:04 AM
    • 202Posts
    • 540Thanks
    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 2
    • ab_saver
    • By ab_saver 28th Sep 16, 9:29 PM
    • 202 Posts
    • 540 Thanks
    ab_saver
    So, payday today. This was greeted with considerably less excitement than expected after yesterday's taxing realisation. Still, it's progress. Found out a colleague on the same pay band got paid nearly £600 more! I'm looking forward to that refund already...

    OH did get the big shop so I am working from the smaller budget and will try and do as much as possible from my (overflowing) stores.

    Spends today:
    Gym £36.99/£36.99
    Gifts/Christmas £21/£30
    Eating out £4.55/30
    Personal spends £32.67/£35

    Day off tomorrow with gym induction booked - I'm hoping to use the gym as an NSD activity, but I may have to sort a couple of other bits and pieces whilst I'm in town. I have 13h shifts Fri/Sat/Sun so aiming for 3 NSDs in a row by virtue of being too busy to spend!
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • ab_saver
    • By ab_saver 29th Sep 16, 10:44 AM
    • 202 Posts
    • 540 Thanks
    ab_saver
    Quick update. Rest day today in preparation for weekend.
    Insurance finally sorted - but ended up going well over budget £116.70/£85
    As my address isn't in many of the main databases I had to do it over phone, meaning more expensive premiums and no cash back - but I did convince the insurer who was able to do it to knock £15 off to make it almost the same as their online price.

    Amazon order arrived today (in spite of not paying for prime!). Much needed gloves and under gloves fit - and the under gloves fit under my 'fashionable' gloves too. My sports armband also arrived in time for me to take it to gym later (shoving phone into sports bra is both impractical and not a great look...)

    Hoping for an NSD with the obvious exception of insurance. There is a possibility of some holiday booking with OH tonight - we shall see.

    Feels a bit like I'm swimming madly against the current to stay where I am at the moment.
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • ab_saver
    • By ab_saver 29th Sep 16, 11:23 PM
    • 202 Posts
    • 540 Thanks
    ab_saver
    NSD today

    (I don't count rent, bills, or insurance, but do count food and any other expenditure that could be considered discretionary)

    Found out today that I may be eligible for relocation expenses for new job - wish I'd known sooner. My parents paid most of my expenses, so if I do get anything back most of it will rightly be heading their way. There are a few things I definitely paid for myself though, which would total over £100. Would probably go onto month after next's pay at this rate.

    Payroll person from previous employer on holiday so unlikely to be any P45 joy until next week. Swings and roundabouts.

    Will probably be quiet for a few days as I'm on long shifts all weekend. Hopefully will get in a few more NSDs. I even have enough points for a free coffee so there's no excuse!
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • ab_saver
    • By ab_saver 3rd Oct 16, 6:38 PM
    • 202 Posts
    • 540 Thanks
    ab_saver
    Busy and chaotic work weekend over. Saturday NSD, Sunday booked airbnb for hols (£273).
    I need to book return trains from London back here (about £100 for 2 with railcards... goodbye budget ) and our only paid attraction.
    OH has paid for a hotel for last couple of days, and will book trains to London. Then we'll have everything except spending money sorted, and we don't anticipate needing much of that. We are staying at a friend's in London for free (well some wine and flowers, but definitely less than a hotel).

    Paid for airbnb on cc for section 75 protection and immediately paid off. Will do same for these trains. By the end of the day the OD will stand at about £700 That does include rent, council tax, insurance, and internet.

    Good news:
    1. no food spends so far and have masses in stores
    2. have everything I need for relocation expenses and even the things I paid for myself would come to just over £100

    Not so good news:
    1. No news on P45 front yet- will chase tomorrow
    2. Got an email from the gym I just joined advertising a no joining fee offer... less than 48 hours after I signed up, to the email address they only have because I joined. If I'd known I would have waited - unlikely to accomplish anything but will email to complain as I feel a bit cheated!

    Landlady coming over this evening so sprucing place up a bit.
    I also need to inventory my freezer and cupboards and come up with some meals. I'm thinking of doing a few slow cooker ones this week - pulled chicken tomorrow and a couple of soups (spiced lentil and carrot; spinach, pea, and mint; carrot and coriander).
    If I have time after landlady's visit I'll do my relocation expenses. I've probably already missed the deadline for having them paid with October pay. Since it's money I never expected to get back, I think I'll add it to the emergency fund. The overpaid tax will go to OD-busting as that's money I expected to have and use for that purpose.

    I feel like this month is going to be treading water (yes I know it's partly my fault as I'm going on a holiday - but in my defence I wasn't expecting to be paid £600 less than a colleague on the same pay grade )
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • ab_saver
    • By ab_saver 3rd Oct 16, 10:52 PM
    • 202 Posts
    • 540 Thanks
    ab_saver
    Quick update:

    Landlady's visit went well
    Booked trains - £114.20
    Did freezer inventory and meal planning - and I should be able to get to the holiday without buying much - I should only need milk, cream cheese, fresh fruit, and hot chocolate. Going to be quite flexible with plan but I have more than enough in stores for a range of healthy and tasty meals.
    Unfortunately I can't find the confirmation for the train for my expenses... I did make one direct journey but most of my trips up and down were to OH's as free accommodation... I have a couple of other queries about this to ask tomorrow.

    Goodnight any lurking moneysavers
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • ab_saver
    • By ab_saver 5th Oct 16, 8:45 PM
    • 202 Posts
    • 540 Thanks
    ab_saver
    2 NSDs in a row since I was last on my diary.
    AND I've been to 2 classes at the gym so making good use of it.

    I currently stand at:

    £664.93 OD
    £114.20 CC (train tix bought on Monday)
    TOTAL: 779.13

    I am definitely on track to keep the total lower than the end September total - I am desperate to keep things moving in the right direction in spite of tax and holiday. (without them I would be DF at the end of this month!)
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • ab_saver
    • By ab_saver 6th Oct 16, 7:32 PM
    • 202 Posts
    • 540 Thanks
    ab_saver
    Another NSD today - 6 of 9 days in my financial month so far.

    Got my P45 and phoned taxman - sorted to get it back across payslips. Essentially I imagine I'll pay less tax per month the rest of the tax year to make up for the overpayment.

    I'm slightly off my meal plan - but in a good way as I'm actually behind in terms of working through the freezer. I've also found out that there's free lunch at work tomorrow. I'll probably need to do a small top up shop in the fortnight between now and my holiday, but just for milk and fresh fruit.

    I saw something that'd be great for OH's Christmas present quite reduced on 3bay - it'd take me over my gifts budget for the month but it's on my watch list - a potential £25 saving might be too good to pass up.
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • ab_saver
    • By ab_saver 7th Oct 16, 9:14 PM
    • 202 Posts
    • 540 Thanks
    ab_saver
    NSD again today and went back to the gym.

    I might go to park run tomorrow but there's a fair chance I'd prefer a lie in as I've worked 8 days in a row.

    I got a letter through to say that the line rental on my broadband is going up so I think that'll require a phone call tomorrow.

    Hope it's all going well for any lurking MoneySavers
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • ab_saver
    • By ab_saver 8th Oct 16, 6:29 PM
    • 202 Posts
    • 540 Thanks
    ab_saver
    So.. today has had some financial ups and downs.

    Phoned broadband company and they said I was sent this letter in error and as I'm on a promotional offer it shouldn't be going up... we shall see about that. I'll need to keep an eagle eye on bills next month.

    My parents gave me £20 on strict instructions to buy myself steak with it. So off to Mr W I went... and did a bit of a top up at the same time. We had a long chat which included a bit about money. I didn't mention yesterday that the free pizza at work was paid for by an independent financial advisor. I know they are trying to sell me something - but a lot of people in my profession have income protection (also called permanent health insurance) and we discussed the pros and cons of it. In conclusion, I need to look into it more and wait and see. Anyone have any thoughts on this? My pay is likely to go up quite rapidly for a few years before plateauing... But as discussed with M&D (mum and dad) - alternative to squirrel away an emergency fund - which I should do anyway.

    Other results of conversation with M&D relevant to moneysaving - they are going to send me the details of index linked savings certificates in my name so I can get the address changed to here etc. This is going to be the very start of my house fund. I think there's about £300 in there to mature in 2018 but will find out.

    I also mentioned about saving for a KitchenAid (one of the big professional ones!) and how if I put a bit away each month I could get one for myself for my birthday next summer. They suggested I might like a contribution to the KA fund for Christmas. That's honestly probably the most useful thing they could give me, as I don't want or need much in the way of material goods. I am thinking I could perhaps use it as part of my first month HTB ISA as it looks like I'll be opening one in December/January - so it won't be open for long but better to get some in this tax year instead of nothing! Otherwise I'm unlikely to get much more than £200 together and it seems a shame to miss out on that first month's bonus of being able to put in more.

    In less exciting news - got my first water bill today. They said it could take up to 6 months and I was secretly hoping to not get one until DF. Anyway £63 paid today, and changed to direct debit for the discount from November.

    Since today has been a spend day, I'm also buying the £13 train ticket I need to get to OH's from mine to start our holiday (yes the NSD challenge means I've been putting it off)!

    My meal planning has also gone out of the window a bit - partly because I'm eating less than I thought so my meals stretch further. I am still cooking almost everything from stores (with exception of steak tomorrow) so I think it's ok.

    I'm now more worried about ending this month deeper into the overdraft than I started it... and I know it's avoidable because if I hadn't been going on holiday I'd be clearing an impressive amount of overdraft.
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • Littlebirdie
    • By Littlebirdie 9th Oct 16, 9:47 AM
    • 84 Posts
    • 116 Thanks
    Littlebirdie
    So.. today has had some financial ups and downs.

    Phoned broadband company and they said I was sent this letter in error and as I'm on a promotional offer it shouldn't be going up... we shall see about that. I'll need to keep an eagle eye on bills next month.

    My parents gave me £20 on strict instructions to buy myself steak with it. So off to Mr W I went... and did a bit of a top up at the same time. We had a long chat which included a bit about money. I didn't mention yesterday that the free pizza at work was paid for by an independent financial advisor. I know they are trying to sell me something - but a lot of people in my profession have income protection (also called permanent health insurance) and we discussed the pros and cons of it. In conclusion, I need to look into it more and wait and see. Anyone have any thoughts on this? My pay is likely to go up quite rapidly for a few years before plateauing... But as discussed with M&D (mum and dad) - alternative to squirrel away an emergency fund - which I should do anyway.

    Other results of conversation with M&D relevant to moneysaving - they are going to send me the details of index linked savings certificates in my name so I can get the address changed to here etc. This is going to be the very start of my house fund. I think there's about £300 in there to mature in 2018 but will find out.

    I also mentioned about saving for a KitchenAid (one of the big professional ones!) and how if I put a bit away each month I could get one for myself for my birthday next summer. They suggested I might like a contribution to the KA fund for Christmas. That's honestly probably the most useful thing they could give me, as I don't want or need much in the way of material goods. I am thinking I could perhaps use it as part of my first month HTB ISA as it looks like I'll be opening one in December/January - so it won't be open for long but better to get some in this tax year instead of nothing! Otherwise I'm unlikely to get much more than £200 together and it seems a shame to miss out on that first month's bonus of being able to put in more.

    In less exciting news - got my first water bill today. They said it could take up to 6 months and I was secretly hoping to not get one until DF. Anyway £63 paid today, and changed to direct debit for the discount from November.

    Since today has been a spend day, I'm also buying the £13 train ticket I need to get to OH's from mine to start our holiday (yes the NSD challenge means I've been putting it off)!

    My meal planning has also gone out of the window a bit - partly because I'm eating less than I thought so my meals stretch further. I am still cooking almost everything from stores (with exception of steak tomorrow) so I think it's ok.

    I'm now more worried about ending this month deeper into the overdraft than I started it... and I know it's avoidable because if I hadn't been going on holiday I'd be clearing an impressive amount of overdraft.
    Originally posted by ab_saver

    Hey,

    It sounds like you are doing a blooming great job. Putting money away each month for the kitchen aid makes it a lot less daunting and you'll feel so great when you buy it knowing you saved up for it yourself.

    Well done on setting up the help to buy ISA. I'm in a similar position...I've set it up and put in the £1000 but my direct debit each month is a horrible £5. I know it's better than nothing but it does make me sad.

    I've just started an emergency fund and it is honestly the best thing that I have ever done..I feel so much better know than I have £100 saved already for those emergencys.

    I know what you mean about worrying about being more in debt at the end of the month. Through the 2 years that I have been more sensible about money I have learnt that some months it isn't about the number of your finances but more the lessons we're learning. Our finances arent always going to be in a positive state and as long as we are being rational, balanced and making sensible desisions then it is ok to spend a few months (not too many as then it gets silly) more in the overdraft than others. This oulook has stopped me going crazy and make sure I enjoy life.

    Keep up the good work
    Overdraft: £1650/£2000
    Aim to be cleared by October 16! July 2017
    • ab_saver
    • By ab_saver 9th Oct 16, 10:10 AM
    • 202 Posts
    • 540 Thanks
    ab_saver
    Thanks littlebirdie!

    I confess I haven't actually opened the HTB ISA yet (I wish I had as the new customer interest rates are getting progressively worse) - but as soon as I'm out of (or pretty much out of) my overdraft I will. I've now set myself a target of having one open in December - so I can just put any money I get given in there straight away.

    I'm liking your message about the journey mattering - I agree that even if I do end up worse off at the end of this month I've learned valuable lessons - mostly about planning! If I'd had a holiday fund set aside, and an emergency fund to help me cope with being £500 short this month due to being overtaxed, then I wouldn't find myself in this situation and it would have been business as usual.

    Overall, I'm not too far off track - I should make the end of November - but then have to work hard to stay in the black all month through December!

    I hope it's going well for you

    Thank you!
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • ab_saver
    • By ab_saver 12th Oct 16, 9:22 PM
    • 202 Posts
    • 540 Thanks
    ab_saver
    So... a reasonable amount seems to have happened in the past 3 days.

    3 more NSDs

    And in no particular order:

    1. I got a letter to say I overpaid tax in the 2015-16 tax year and am owed £19.20
    That'll go in the main account for the time being, but once I'm safely back in credit I'd like to transfer that amount to my emergency fund (as it's unexpected money ) *makes mental note* (this is in addition to ~£500 from this financial year to go back via my payslips)

    2. I've arranged to meet the independent financial advisor next week
    It's ironic given I don't really have money for them to advise me on (yet). I'm not going to agree to anything there and then, and need to write down my questions for them so I don't forget!! Any moneysavers out there with any tips (particularly re income protection) do let me know.

    3. Budget-wise I'm going ok at the moment. At the weekend I have to post one friend's birthday present, and sort out a secret santa style gift for another friend (ex housemates doing surprise care parcels!) The gifts/Christmas budget has been well and truly busted this month, but that budget will go down next month to compensate...

    4. With extreme caution, my night before payday balance might be somewhere in the region it was the night before the last payday. I can usually get my payslips a bit early online so I'm wondering if I'll be able to access mine before I go on holiday. It'd certainly put me in a cheerier mood, and assuage some of my guilt about the inevitable holiday spends.

    5. Feeling a bit gloomy about all the in-credit interest being cut on most of the accounts. I had a really solid plan in place for what I wanted to do with my money once it was mine rather than the bank's, and now that's in flux a bit. I guess I'll have to wait and see how the situation unfolds. (on the plus side, low interest rates would be handy for when we have a mortgage!)

    6. In that vein, when I told my OH I thought with some careful living I could save £10k towards our deposit (to add to his inheritance/savings) he was v surprised/impressed. Now to get my finances back on track and get that done!
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • ab_saver
    • By ab_saver 13th Oct 16, 7:52 PM
    • 202 Posts
    • 540 Thanks
    ab_saver
    Another NSD today.
    Will need one pre-holiday spend day (at weekend) to get bits and pieces sorted out and gifts posted.

    Got my job plan for my next rotation - unfortunately my pay isn't going up as much as I'd hoped (by about £500/year) but the rota doesn't look as bad as feared. They have restructured my pay in such a way as to make much more of it pensionable, so my contributions have gone up enough to cancel that out. Ah well.

    I still need to do my relocation expenses - that's a job for the weekend.

    Work hasn't been going well for the past couple of days for reasons beyond my control. Hoping things will start looking up soon.

    Got a lot of stress out by going to gym. Second class was cancelled but I have been offered a free personal training session to make up for it.

    Also, a cousin has just been given a cancer diagnosis - they have an excellent prognosis but they aren't much older than me. Does make you ponder a bit- especially with my upcoming meeting with the IFA!
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • ab_saver
    • By ab_saver 14th Oct 16, 9:16 PM
    • 202 Posts
    • 540 Thanks
    ab_saver
    In which I throw all my budgets out of the window...
    So today wasn't exactly the NSD planned - I moved all my spends from tomorrow to today but spent way too much money - mostly on a winter do next month...

    Spends today:
    -impromptu work lunch for a colleague's birthday - £6
    -work Christmas do for OH and I - £113
    -secret santa care package shopping - £7 (pens, chocolate)
    -£land odds and sods - £2
    -reduced bargains at Mr W - 39p
    -totally unnecessary chocolate from Mr W - £1.50

    Let's look at my original budgets, for a scary moment:
    Gifts/Christmas £55/£30
    Eating out £124/30 (I've put the winter ball in this category as it hardly belongs anywhere else and I'm not making a new category for it)
    Personal spends £32.67/£35
    Groceries: £15.62/40
    Holiday: £389/300

    Suffice to say that half the Christmas stuff was supposed to be from next month's budget - but I got a bargain so I'm ok with that.The winter ball was supposed to come out of next month's as well but the deadline for payment was Monday and I was only told that a week ago!

    So... the total overdraft going in the wrong direction this month is all but guaranteed.

    AND I know it's basically all my fault. (the whole £500 overpaid tax thing definitely didn't help, but my spending has been OUTRAGEOUS this month and THIS MUST STOP.
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • Littlebirdie
    • By Littlebirdie 15th Oct 16, 9:25 AM
    • 84 Posts
    • 116 Thanks
    Littlebirdie
    An_saver I'm totally feeling the same! It's hard battle to fight cause we are in our 20's so want to enjoy life but also save! Let's focus on having a frugal rest of the month and then next month have not too many unexpected spends. Saying that I know next month is expensive for me...none the less good intentions is better than no intentions at all ��
    Overdraft: £1650/£2000
    Aim to be cleared by October 16! July 2017
    • ab_saver
    • By ab_saver 15th Oct 16, 9:37 PM
    • 202 Posts
    • 540 Thanks
    ab_saver
    An_saver I'm totally feeling the same! It's hard battle to fight cause we are in our 20's so want to enjoy life but also save! Let's focus on having a frugal rest of the month and then next month have not too many unexpected spends. Saying that I know next month is expensive for me...none the less good intentions is better than no intentions at all ��
    Originally posted by Littlebirdie
    That's the plan littlebirdie - shouldn't be too many spends as holiday all paid for except spending money (and we are taking all the non-perishable food with us so that's paid for too). I think I have actually just had loads of spends this month I planned to have next month (e.g. work do, Christmas pressies etc). I justify this as my OD is at 0% if I save money by buying something sooner it genuinely does save me more in the long run.

    Had another NSD today - and made a very yummy slow cooker soup. I'm trying to get as much as possible used up before I go away on holiday - in less than a week!

    Have done even more thinking about the income protection and did some sums and I think I will go for it. If I tried to self-insure then by saving the amount the premium would be every month, I'd have enough for one month's payout... after over 4 years.

    I think my cousin's cancer diagnosis has hit me quite hard - he's only 3 years older than me and has 2 young kids. What would I do if something like that happened to me and I couldn't work? I ought to reiterate that this will not be an excuse not to have an EF - I definitely will need one as there are emergencies other than accident and sickness.

    So.. I need to continue tidying the place and hoover the floor before the IFA comes round on Tuesday!!! I've not done much today but I've honestly been shattered and had a horrible week with sad family news as well as work going badly. After some R&R I need to pick myself up and dust myself off for the 4 working days left before my holiday- 2 short then 2 long.
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • giblet1979
    • By giblet1979 16th Oct 16, 1:23 AM
    • 846 Posts
    • 3,396 Thanks
    giblet1979
    Hi abs,
    I've enjoyed reading your diary and I think you're doing really well. Not meaning to sound patronising in any way, but I think it's fab that you're thinking about these things in your early 20's, and although there will be ups and downs, you are already in a great position because you are planning so well and starting so early. There will always be a few things that are more expensive than you expect (and times when you throw the budget out of the window a bit) but I get the feeling that you will definitely meet your goals in the longer term, and I'll look forward to seeing the journey.
    Hope you have a great holiday and a good rest
    Gib x
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • ab_saver
    • By ab_saver 16th Oct 16, 9:27 AM
    • 202 Posts
    • 540 Thanks
    ab_saver
    Hi giblet - thanks for stopping by! I've been lurking reading your diary on the MFW board (I find them inspiration, as my end goal is to save towards a house deposit, and then to get MF in less than 25 years...)

    Thanks for your encouragement - I know it's only a bump in the road, and will only delay me being DF by a month - I WILL still be DF this side of Christmas one way or another.... And then it's onto bigger and better things.

    Planning another NSD today - and have been doing a provisional budget for next month. I say provisional because I don't know how much I'll be paid exactly due to this tax code kerfuffle. Payday is (conveniently) when I'm on holiday so I'll do my end of month update when I get back.
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
    • giblet1979
    • By giblet1979 16th Oct 16, 12:54 PM
    • 846 Posts
    • 3,396 Thanks
    giblet1979
    I'm sure you'll do it! On our aimed timescale I'll be 47 (or 43 and a bit if we cut to the bone and OP the whole allowed maximum which is unlikely but possible) so I've no doubt that even allowing for a life, you can definitely do this x
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • ab_saver
    • By ab_saver 17th Oct 16, 10:39 PM
    • 202 Posts
    • 540 Thanks
    ab_saver
    Just a few DFW things to note today.

    -Tax refund from last year came through this morning - all £19.20 of it
    -phoned up energy people to tell them I couldn't submit my meter readings, get direct debit date moved to start of month (although next one due to be taken tomorrow so will probably go as usual), and inquire as to when I'll be billed as I'm in a fair amount of credit with them
    - NSD - again - as predicted, this going to the gym lark has kept me out of the shops!
    - worked out how much tax I should be paying next month (on basis of overpayment so far) and approx take home pay - good to see it matches the budget I did at the weekend
    - converted tesco vouchers into dinner vouchers for an MSE pre-hols dinner on Friday night
    - come up with a hair-brained scheme for what to do with my money once I'm DF (more on that when the time comes)
    - not done today but never mentioned it - I have quite MSE parents and my mum is Kondo-ing the house. She has very kindly offered to keep back (rather than donating or selling) a dvd player, an old apple tv (the ancient one with the hard drive in) and my old nintendo wii (at request of OH when I told him it might be going!!). She has also offered to make me blinds for the flat (out of my parents' old curtains she has decided she no longer likes )
    - used up remaining courgettes in cake- but only because oven was on anyway

    SO... the following remains to be done:

    - ing relocation expenses form - I started it yesterday and messed it up
    - measure windows for aforementioned blinds (thank you mother)
    - meeting with IFA tomorrow evening place is a mess even though it was spotless yesterday
    - pack for holiday
    - sort flat out a bit
    - ironing
    - 3 more days at work before holiday!

    I've been reading DFW and MFW diaries from start to finish for inspiration - it's quite addictive!

    I'm feeling positive about being DF this side of Christmas... but I don't know quite how the £400+ flights to see my parents (yet to be booked as my leave hasn't been confirmed yet and the prices keep rising ) fit in.
    Pesky student overdraft gone _House fund: ~£300 / £10,000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 0/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £1.98/75
    £1000 emergency fund #208 - £13.74/ 1000 _
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