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  • FIRST POST
    • Cailbhinn
    • By Cailbhinn 15th Oct 16, 10:24 PM
    • 88Posts
    • 260Thanks
    Cailbhinn
    Cailbhinn's debt journey!
    • #1
    • 15th Oct 16, 10:24 PM
    Cailbhinn's debt journey! 15th Oct 16 at 10:24 PM
    Hello all. I've been a long-time lurker of MSE and finally am in the right place to get my debt sorted, I turned 30 this year and have had credit card debt since I was 18. Stupid decisions, ignorance and lack of foresight got me here. Shifted around on 0% cards for 10 years until those deals did not come so easily so now on long-term low interest card so another reason to get rid!

    My main reason however was reviewing last months spends. i spent nearly £400 on food alone. For one person. Disgusting! I re-connected YNAB a few weeks back and am following it religiously. For the first time I have a buffer and also will likely have extra to pay off of the CC debt rather than just above the minimums! I have curtailed my spending and I'm not fading away to a shadow! I just think about things more rather than tapping that wee card onto the reader!

    My debt is currently sitting at £12,956

    I am determined however and hope this diary will help to motivate me to reach that highest honour of appearing on the debt free roll of honour! And also make me a spendthrift whilst still enjoying life. One day I may be on that property ladder which seems like an unachievable dream at the minute. Thanks in advance for the support.
    Last edited by Cailbhinn; 23-10-2016 at 10:14 PM.
Page 1
    • ab_saver
    • By ab_saver 15th Oct 16, 10:37 PM
    • 210 Posts
    • 561 Thanks
    ab_saver
    • #2
    • 15th Oct 16, 10:37 PM
    • #2
    • 15th Oct 16, 10:37 PM
    Good luck!
    Pesky student overdraft gone _House fund: ~£300 / £10,000_£1000 emergency fund #208 - £15.45/ 1000
    NSDs Sept 6/7 Oct 19/18 Nov 17/15 Dec 1/12_ GC Oct: £15.62/40 Nov: £71.89/75 Dec £6.48/75
    • Cailbhinn
    • By Cailbhinn 15th Oct 16, 10:41 PM
    • 88 Posts
    • 260 Thanks
    Cailbhinn
    • #3
    • 15th Oct 16, 10:41 PM
    • #3
    • 15th Oct 16, 10:41 PM
    Thanks very much ab_saver!
    • Cailbhinn
    • By Cailbhinn 15th Oct 16, 11:59 PM
    • 88 Posts
    • 260 Thanks
    Cailbhinn
    • #4
    • 15th Oct 16, 11:59 PM
    • #4
    • 15th Oct 16, 11:59 PM
    Well it's 11.59pm and today has been a NSD. Small steps!
    • Poor_Single_lady
    • By Poor_Single_lady 16th Oct 16, 7:14 AM
    • 456 Posts
    • 1,072 Thanks
    Poor_Single_lady
    • #5
    • 16th Oct 16, 7:14 AM
    • #5
    • 16th Oct 16, 7:14 AM
    Welcome Cailbhinn. I might follow your progress if that is ok. Apart from having slightly more debt that you, I think you sound very similar to me. Without any checks or planning I could easily spend £400 on food.
    Hope the diary helps. Looking forward to reading it. xx
    Debt at June 2016 £14,600
    2017 pay off loan and first credit card
    Have less debt and be happier
    • Cailbhinn
    • By Cailbhinn 16th Oct 16, 8:07 AM
    • 88 Posts
    • 260 Thanks
    Cailbhinn
    • #6
    • 16th Oct 16, 8:07 AM
    • #6
    • 16th Oct 16, 8:07 AM
    Of course you can follow me! All support or boots-up-the-erse most graciously received! Debt is so easy to get yet so hard to get rid off. Just like my ever-expanding gut! I have a good well-paid job and thankfully not added to the debt recently but it's like a black cloud hanging over me. I'm sure you're well aware of this too!

    All the best and hopefully see you around1
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Oct 2016) - £12,956 (0% paid)
    • Cailbhinn
    • By Cailbhinn 16th Oct 16, 9:32 AM
    • 88 Posts
    • 260 Thanks
    Cailbhinn
    • #7
    • 16th Oct 16, 9:32 AM
    • #7
    • 16th Oct 16, 9:32 AM
    Do you know it's mental how much money you can fritter away? Just worked out I spent £30 last month on getting car washed! I have arms, a sponge and a bucket so absolutely no need for such expenditure. That £30 can go to debt repayment.
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Oct 2016) - £12,956 (0% paid)
    • louby40
    • By louby40 16th Oct 16, 12:29 PM
    • 551 Posts
    • 1,297 Thanks
    louby40
    • #8
    • 16th Oct 16, 12:29 PM
    • #8
    • 16th Oct 16, 12:29 PM
    Hey, good luck on recognising your debt and facing it full on. Yep £400 for 1 person is a LOT of food, but you recognise that now so onwards.

    Keep posting, they're a fab bunch on here!
    Dec 16 Barclaycard £73 0% First Direct £1179 0% Parents £2125=£3377
    Nov 16 Barclaycard £73 0% First Direct £1179 0% Parents £2425= £3677
    Sealed Pot Challenge 10 #572
    Car loan £5024 Mortgage £99,720
    • Cailbhinn
    • By Cailbhinn 16th Oct 16, 6:09 PM
    • 88 Posts
    • 260 Thanks
    Cailbhinn
    • #9
    • 16th Oct 16, 6:09 PM
    • #9
    • 16th Oct 16, 6:09 PM
    Thanks louby40. Everyone seems so nice and all in the same boat which helps.

    Today was another NSD. Porridge and banana for breakfast, no lunch and went over to mums for roast dinner. Bought food for the week at work (and some deodorant) and used the silver I had been putting in my sock drawer (don't ask!).

    Other than the above I've had a lazy day. But productive lazy day as been going through my bank statements to see where I am (partly) going wrong. Other than food as mentioned above, cash withdrawals seems to average £200-300 p/m. i honestly don't know what for except for known nights out. Glad i am using YNAB now so this will be easier to track.
    Last edited by Cailbhinn; 16-10-2016 at 6:12 PM.
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Oct 2016) - £12,956 (0% paid)
    • Katzen
    • By Katzen 16th Oct 16, 6:35 PM
    • 499 Posts
    • 1,604 Thanks
    Katzen
    Hello! Mind if I join you? Not a DFW myself but I find this a good place to hang out for motivation to be frugal and keep my money rather than fritter it away. How about posting an SOA? It seems like you're in a good place and can afford your debt, so to speak, but it might help you get things in perspective if you write it all down. Plus, who doesn't love to give a bit of advice and have a nose at other people's finances?
    Best of luck
    Katz
    • louby40
    • By louby40 16th Oct 16, 6:40 PM
    • 551 Posts
    • 1,297 Thanks
    louby40
    Cailbhinn when I had my LBM back in June and I looked at what I was spending I realised I was making extra trips to the local Co-op and buying wine, choc extra milk etc and spending £10 a time once, maybe twice a week.

    Plus I was buying stuff off ebay/Amazon for work (I'm a teacher) so I just stopped. I just started being really hyper aware of what I was buying and decided not to spend any more.

    Using YNAB has made a massive difference. And I've sold tons of stuff on ebay and started doing surveys which has helped with about £50 towards my CC.

    It all helps. But life must go on too - which I forget sometimes!
    Dec 16 Barclaycard £73 0% First Direct £1179 0% Parents £2125=£3377
    Nov 16 Barclaycard £73 0% First Direct £1179 0% Parents £2425= £3677
    Sealed Pot Challenge 10 #572
    Car loan £5024 Mortgage £99,720
    • Cailbhinn
    • By Cailbhinn 16th Oct 16, 7:35 PM
    • 88 Posts
    • 260 Thanks
    Cailbhinn
    Hello! Mind if I join you? Not a DFW myself but I find this a good place to hang out for motivation to be frugal and keep my money rather than fritter it away. How about posting an SOA? It seems like you're in a good place and can afford your debt, so to speak, but it might help you get things in perspective if you write it all down. Plus, who doesn't love to give a bit of advice and have a nose at other people's finances?
    Best of luck
    Katz
    Originally posted by Katzen

    Thanks so much for posting and please join in and comment. I don't think however a SOA would be useful in my situation as I never stuck to my budget - didn't even have one until a few weeks ago. Overspending in areas and not having an overview of my balances were the issue. I'm very lucky in that I have no commitments (family-wise) and have low outgoings other than my car whilst earning a really decent wage. I've never missed a debt payment and can quite easily overpay by £2-400 p/m, whilst planning for annual things and having savings (totally new concept!). It's just taken me 12 years to realise this.

    YNAB is a great tool and its all there in black and white - well green and red. It's scary actually realising that I could get rid of the CC debt in 2-3 years if I stick to my rather generous budget. Maybe that's another reason I feel I don't need to post a SOA? Embarrassment at what some may think are extravagant categories - car, entertainment etc.

    (Although as a nosey parker myself I know where you're coming from )
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Oct 2016) - £12,956 (0% paid)
    • Cailbhinn
    • By Cailbhinn 16th Oct 16, 7:45 PM
    • 88 Posts
    • 260 Thanks
    Cailbhinn
    ...I was making extra trips to the local Co-op...
    Originally posted by louby40
    I was disgusted when i searched my online banking to realise I spent so much and supermarkets and also local shops. In addition to going to food places for lunch and dinner and just using my contactless card to pay for it. These £4, 5, 6, 7 pounds all added up to my monstrous food bills as above.

    I just started being really hyper aware of what I was buying and decided not to spend any more.
    This is it too. I have just chucked things into the basket without even looking at the price. Then I'm flummoxed as to why one bag from Te$co costs £40! Past few weeks have taught me to be more aware of what I am buying and also if i really need it.

    Using YNAB has made a massive difference.
    I agree. And I will be happy to be the poster boy of YNAB on my debt free date.

    And I've sold tons of stuff on ebay and started doing surveys which has helped with about £50 towards my CC.
    I don't really have anything to sell. However I take your advice of undertaking some surveys to add to my income. I did have a YouGov account where I once received money. And I have done some cash back things in the past.

    It all helps. But life must go on too - which I forget sometimes!
    Oh I don't think I have that problem as I have quite a comfortable life and also hav budgeted for that to continue
    Last edited by Cailbhinn; 16-10-2016 at 8:04 PM.
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Oct 2016) - £12,956 (0% paid)
    • Smodlet
    • By Smodlet 16th Oct 16, 7:53 PM
    • 1,793 Posts
    • 2,983 Thanks
    Smodlet
    Hi and welcome. Struggling with how one person can spend £400 pcm on food, even factoring in going out to dinner... think I used to do that in a previous life; it was so long ago I can't remember.

    What does any of that matter? The point is, you have had your LBM.

    If you want money saving ideas about food, there are loads on the Old Style board; I'm sure you have already found that.

    It sounds as if you can sort your situation fairly easily; you already know most of the basic stuff to which many new posters seem oblivious. "You can do it if you really want, you'll be free at last."

    Good luck with it all.

    P.S. How do you pronounce your name? Is it something like Caitlin?
    Last edited by Smodlet; 16-10-2016 at 7:57 PM.
    What is this life, if, sweet wordsmith, we have no time to take the pith?

    Every stew starts with the first onion.

    I took it upon myself to investigate a trifle; it had custard, jelly, soggy sponge things...
    • Cailbhinn
    • By Cailbhinn 16th Oct 16, 8:02 PM
    • 88 Posts
    • 260 Thanks
    Cailbhinn
    I was a bit disgusted with myself. Total laziness - and half the stuff got binned. £4 lunch meal deal at work = £90 p/m alone!

    P.S. How do you pronounce your name? Is it something like Caitlin?
    Originally posted by Smodlet
    Ha. Was waiting for that to come up. Nope. Calvin - like Klein or Harris. It's Gaelic.
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Oct 2016) - £12,956 (0% paid)
    • Katzen
    • By Katzen 16th Oct 16, 9:01 PM
    • 499 Posts
    • 1,604 Thanks
    Katzen
    Haha! Gutted not to get to poke into your finances �� but it does sound like you are doing the right sort of 'stuff' to reveal to yourself where you're over spending and to reign it in.
    To be honest, surveys and stuff are great if you're either desperate or have lots of free time but if neither of those things apply you'd do better getting some extra hours or a second job. Cash back is worth it though, especially with Christmas on the way.
    • Smodlet
    • By Smodlet 16th Oct 16, 10:29 PM
    • 1,793 Posts
    • 2,983 Thanks
    Smodlet
    I was a bit disgusted with myself. Total laziness - and half the stuff got binned. £4 lunch meal deal at work = £90 p/m alone!



    Ha. Was waiting for that to come up. Nope. Calvin - like Klein or Harris. It's Gaelic.
    Originally posted by Cailbhinn

    My bad! Knew I'd get it wrong, did figure it was Gaelic, though, I'm not quite that dumb!

    Sorry, sir... Who is Calvin Harris? I've heard of Klein and, now, I've heard of you, fwiw. Glad to make your acquaintance, Cailbhinn.
    What is this life, if, sweet wordsmith, we have no time to take the pith?

    Every stew starts with the first onion.

    I took it upon myself to investigate a trifle; it had custard, jelly, soggy sponge things...
    • -taff
    • By -taff 17th Oct 16, 7:19 AM
    • 6,458 Posts
    • 3,731 Thanks
    -taff
    you can work out how much more adding 5,000 to your mortgage will cost you here


    http://www.thisismoney.co.uk/money/mortgageshome/article-1633416/Mortgage-monthly-calculator.html
    • Cailbhinn
    • By Cailbhinn 17th Oct 16, 1:19 PM
    • 88 Posts
    • 260 Thanks
    Cailbhinn
    Thanks taff. You read my mind. Did this last night looking at LTVs and the interest rates you get. Having a 15% deposit compared to 10% really improves these.

    Today my breakfast and lunch cost be around £1.50. Dinner tonight will be £2 odds so if I continued that over the month with a few treat days I should comfortably be in my food budget and the remainder straight to CC even if it is only a few quid. YNAB is brilliant for this budgeting and moving malarky.
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Oct 2016) - £12,956 (0% paid)
    • Cailbhinn
    • By Cailbhinn 17th Oct 16, 1:21 PM
    • 88 Posts
    • 260 Thanks
    Cailbhinn
    Sorry, sir... Who is Calvin Harris? I've heard of Klein and, now, I've heard of you, fwiw. Glad to make your acquaintance, Cailbhinn.
    Originally posted by Smodlet
    Only the worlds most paid DJ at the moment and Scottish too. I remember buying his first album and seeing him in the Carling Academy in Glasgow before he was famous famous. Wonder if he'd give a wee sub to his namesake? £12,000 is nothing to him lol.
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Oct 2016) - £12,956 (0% paid)
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