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  • FIRST POST
    • dottydebts
    • By dottydebts 23rd Feb 17, 6:09 PM
    • 70Posts
    • 188Thanks
    dottydebts
    New Year, New Diary
    • #1
    • 23rd Feb 17, 6:09 PM
    New Year, New Diary 23rd Feb 17 at 6:09 PM
    After a fun filled year which started with fantastic MSE intentions, I am sad to say that my money saving and debt paying seems to have gone in the completely wrong direction.

    Negatives:
    - I am now about £2000 more in debt than I was this time last year
    - I have an additional credit card and car loan
    - My overdraft (which was interest free) is now charging me money every month

    Positives:
    - I am now a married woman! And it was the best day of my life, and completely worth the ridiculous amount of money it cost. I am very thankful to my mum, who paid for the majority of it, because without her we would definitely owe a lot more money right now
    - I can drive and have a car to call my own
    - I have a plan to sort all of this out.

    After spending too many hours adjusting and updating my spreadsheet over the past couple of days, I now feel like I have a bit more of an idea of how to tackle my seemingly ever-growing debt. It currently looks something like this:

    Argos Card - £755.08 - pay £135 pm - cleared August 2017
    Natwest CC - £402.54 - pay £65 pm - cleared by August 2017
    MBNA CC - £1382.57 - pay £100 pm - cleared by November 2017
    Overdraft - £1480 - pay £20 pm until CCs cleared - cleared by April 2018

    Additionally, I should be able to save £200 pm to pay for our honeymoon without relying on the CCs and also to start building up an emergency fund, which was completely wiped out by the wedding.

    Debt free things to do every day:
    - Start shopping at Aldi - now I can drive I have no reason to carry on shopping from the 'big' supermarkets, and now I can park a little bit better, I have no reason to be scared of the small, always busy car park.
    - Keep track of every penny spent on my spreadsheet, so I can see where I am coming in under and over budget each month. I have bought some small plastic wallets and plan to start using cash to help keep on top of this!
    - Stop buying unnecessary snacks and fizzy drinks on the way to work. I don't need them. I just need to stop.

    So, there it is. My mess and my plan to fix it. I hope to use this diary to keep myself accountable and also to read back on to remind myself to never get into this state again. That £300 pm could be used in much better ways than paying people money I owe them.
    18.02.17 - £4,040.19 18.03.17 - £3686.19
    18.04.17 - TBA

Page 3
    • motivated
    • By motivated 19th Mar 17, 5:57 PM
    • 2,179 Posts
    • 3,002 Thanks
    motivated
    It has officially been one month since I started my journey I have paid off a grand total of £354!
    .
    Originally posted by dottydebts
    You are doing amazingly well dotty. Keep going
    M
    Emptying my lake with a teaspoon
    Short term goal £410/£1796

    Weight loss 5/24lb

    • dottydebts
    • By dottydebts 20th Mar 17, 6:32 PM
    • 70 Posts
    • 188 Thanks
    dottydebts
    NSD today! I should feel happier about this, but work has put me in a bad mood. I hate letting something that happened at work ruin my evening, but it really has today.

    Doesn't help that I have seem to have had an ongoing cold since the beginning of autumn and my entire body just aches.

    I am going to try and clean my anger away tackling the kitchen and living room and then going to have an early night tonight, and hopefully will wake up in a better mood tomorrow.

    I might treat myself to a fizzy drink tomorrow morning, which will cost about £1 but we will see. I want to, and I have the money available in my treats budget (yes, I am counting a sugary drink as a treat) but I also want to spend as little as possible over the next week and a half so I have more excess to throw at debts/savings. Such a dilemma.
    18.02.17 - £4,040.19 18.03.17 - £3686.19
    18.04.17 - TBA

    • dottydebts
    • By dottydebts 20th Mar 17, 6:54 PM
    • 70 Posts
    • 188 Thanks
    dottydebts
    New challenge until payday - only spend the cash I have left in my envelopes! I have just counted it all out and re-sorted it into the following categories:

    Food - £10.50 (pretty much what is left in my food budget anyway!)
    Petrol - £31 (I always aim for £30 when filling up, but always seem to go over slightly!)
    Treats - About £10 (Basically all of the other coins I had remaining over the value of 20p!)

    10ps, 5ps, 2ps and 1ps have been taken out ready to go into my spare change pot for christmas, taking it's total to just over £35! (yes, I count my change and add it to my spreadsheet before I save it)

    If I manage this, I will have about £160 to send to savings/debts (split) when I get paid on the 31st! 10 days to go!!
    18.02.17 - £4,040.19 18.03.17 - £3686.19
    18.04.17 - TBA

    • dottydebts
    • By dottydebts 25th Mar 17, 6:59 PM
    • 70 Posts
    • 188 Thanks
    dottydebts
    Another week almost done! Unfortunately, it didn't turn out to be the MSE week I had hoped for, but I have enjoyed it.

    I met up with friends for dinner earlier in the week, which was lovely and I need to do it more often. I have a habit of turning into a real hermit and just lock myself away at home which I need to stop doing.

    Me and hubby also had a bit of a 'date night' last night with a chinese takeaway.

    I do still have £75 in my budget to last until Friday though, which is good news. I have paid £50 into savings, and another £20 to debts this week so my savings accounts are looking much healthier and I've made a bit of a head start on next month's debt busting too. I'm still hoping to have a bit more money to throw at something come Friday, but we will see! Even if it is just £20 I will be happy!
    18.02.17 - £4,040.19 18.03.17 - £3686.19
    18.04.17 - TBA

    • Cumbria lass
    • By Cumbria lass 25th Mar 17, 7:14 PM
    • 391 Posts
    • 910 Thanks
    Cumbria lass
    I always think you need to have the occasional treat .

    Sounds like you are doing well so far !
    Enjoy the rest of the weekend
    Aug 2017 CC1 £3659 CC 2 £1063.50 Emergency Fund £1200

    Debt Free Nov 2019: earlier if I have my way
    • dottydebts
    • By dottydebts 26th Mar 17, 7:48 PM
    • 70 Posts
    • 188 Thanks
    dottydebts
    I have made an error. After food shop and filling up with petrol today, I thought I had £34 left to last until Friday, with £6 change in my purse.

    I then checked my MBNA account, and realised my direct debit comes out on Wednesday. That is £25. It is ok, and I have the money there to cover it, just annoying as I thought I was going to be entering next month with £30 in my bank account, but I'm not. I will have £9.

    So now comes my internal dilemma. Do I pay the £25 out of this month's money, or do I replace the money when I get paid and send it to savings? If I pay it from this month's money, it will up this month's payment to £75, and I have budgeted for £75 to pay from next month so I guess it would be just starting a month early. BUT I am also saving to get my car fixed (damage from an accident, but still able to drive it) which will cost around £400. That £30 would up my pot for this to almost £100, bringing me almost 1/4 of the way there.

    In my head, this direct debit didn't come out until the 31st, so I was counting it as next month's payment anyway but now I am just confused (and kinda annoyed too that I didn't check this earlier).

    ALSO if I pay it from this month's money, am I going to remember this late-in-the-month direct debit next month, or am I going to end up in the same situation with £30 to my name and £25 of it being taken 2 days before pay day?

    Sorry for the ramble... I just can't get my head around what to do!
    18.02.17 - £4,040.19 18.03.17 - £3686.19
    18.04.17 - TBA

    • dottydebts
    • By dottydebts 30th Mar 17, 7:04 PM
    • 70 Posts
    • 188 Thanks
    dottydebts
    I have made it to pay day within budget!!

    I decided to pay the £25 direct debit from my remaining budget, and sent £12 to savings (what was left over) and I'm happy with this decision.

    I'm excited to start fresh with my budget on Saturday as hoping for a NSD tomorrow
    18.02.17 - £4,040.19 18.03.17 - £3686.19
    18.04.17 - TBA

    • motivated
    • By motivated 30th Mar 17, 7:20 PM
    • 2,179 Posts
    • 3,002 Thanks
    motivated
    I have made it to pay day within budget!!

    I decided to pay the £25 direct debit from my remaining budget, and sent £12 to savings (what was left over) and I'm happy with this decision.

    I'm excited to start fresh with my budget on Saturday as hoping for a NSD tomorrow
    Originally posted by dottydebts
    go you dotty.
    well done and a positive start to a new budget.
    M
    Emptying my lake with a teaspoon
    Short term goal £410/£1796

    Weight loss 5/24lb

    • dottydebts
    • By dottydebts 30th Mar 17, 7:27 PM
    • 70 Posts
    • 188 Thanks
    dottydebts
    Thanks motivated!

    Definitely hoping that a 4 week month will be easier to manage than this long one! Having only £12 remaining in my bank account was making me feel slightly anxious!
    18.02.17 - £4,040.19 18.03.17 - £3686.19
    18.04.17 - TBA

    • motivated
    • By motivated 30th Mar 17, 7:35 PM
    • 2,179 Posts
    • 3,002 Thanks
    motivated
    Thanks motivated!

    Definitely hoping that a 4 week month will be easier to manage than this long one! Having only £12 remaining in my bank account was making me feel slightly anxious!
    Originally posted by dottydebts
    But you made it through

    Its quite tiring this debt busting isn't it. Keep at it
    M
    Emptying my lake with a teaspoon
    Short term goal £410/£1796

    Weight loss 5/24lb

    • dottydebts
    • By dottydebts 1st Apr 17, 2:51 PM
    • 70 Posts
    • 188 Thanks
    dottydebts
    Another month, another budget! This month is looking like it's going to be pretty tight with nothing extra coming in but I'm determined to keep up with the PADs to the debt and the savings, even if it means my monthly budget is reduced.

    I have some time off work this month, so hoping my petrol will come to less than normal, and I am also hoping to eat from the cupboards more as I wont need to buy specific lunch foods while I'm off.

    So far this month, I have spent 3.50 on some cleaning products, and tomorrow will be a small food shop (aiming for £15).

    Last month's figures:

    Travel: 87.54/100 (£12.46 remaining)
    Food: 101.81/100 (£1.82 over)
    Treats: 50.03/80 (£29.97 remaining)
    Eating Out: 57.05/50 (£7.05 over)

    Emergency Fund: £32.00/1000
    Fix-the-Car Fund: £65.25/600
    Christmas Fund: £56.02/500

    Total debt paid: £384.38
    18.02.17 - £4,040.19 18.03.17 - £3686.19
    18.04.17 - TBA

    • motivated
    • By motivated 1st Apr 17, 3:17 PM
    • 2,179 Posts
    • 3,002 Thanks
    motivated
    Hi dotty

    It helps to see the figures going down and to see exactly how much you've paid off it's good motivation. Keep going
    M
    Emptying my lake with a teaspoon
    Short term goal £410/£1796

    Weight loss 5/24lb

    • dottydebts
    • By dottydebts 2nd Apr 17, 9:20 AM
    • 70 Posts
    • 188 Thanks
    dottydebts
    Been playing around with my spreadsheet this morning and decided to set myself a goal of paying of 75% of my debt before Christmas. That is £3030.14.

    My current total is £694.58/£3030.14

    By paying this much off by Christmas, I will have no credit card debt and will have payed off 1/3 of my overdraft. I would love to clear it all by Christmas, and I will still be overpaying as much as I can each month, but I know this isn't realistic. I physically haven't got a spare £420 each month to throw at the debt. However, I'm aiming to pay off at least £300 which should see me exceed by 75% target! It also gives me a bit of breathing room, so if some months I don't make £300 it won't be a massive disaster.

    In the short term, I would like to hit £1000 paid off by the end of May. This will be £1000 paid off in 3 months which to me is amazing! So, £305.42 to pay by May 31st. I can do that.

    I have listed some shoes I no longer wear on a selling app on my phone, but if they don't sell in the next week I will either list them on Ebay or take them to the car boot hubby is determined to do next weekend!
    18.02.17 - £4,040.19 18.03.17 - £3686.19
    18.04.17 - TBA

    • dottydebts
    • By dottydebts 2nd Apr 17, 10:45 AM
    • 70 Posts
    • 188 Thanks
    dottydebts
    Food shop today came in at £23.08 - got a few extra bits but not planning on shopping next Sunday so hopefully this will last me two weeks! £72.51 remaining in food budget for the month!

    No petrol this week, so that will be next weekend as hoping I can make it until Friday with what is left in the tank.

    Now to get on with the mountain of Sunday jobs - hoovering, office, bedroom and bathroom are top of the list!
    18.02.17 - £4,040.19 18.03.17 - £3686.19
    18.04.17 - TBA

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