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  • FIRST POST
    • RebeccaAnney
    • By RebeccaAnney 7th Mar 17, 12:28 PM
    • 19Posts
    • 25Thanks
    RebeccaAnney
    Debt Free Determined!!!
    • #1
    • 7th Mar 17, 12:28 PM
    Debt Free Determined!!! 7th Mar 17 at 12:28 PM
    Hi everyone

    Starting a diary to encourage myself to be realistic with where I am financially, stop burying my head in the sand and address all the things I waste all of my money on...

    My current debts are as follows;

    Credit Card 1 - £3491.16
    Credit Card 2 - £3981.71
    Catalogue - £708.27
    Overdraft - £2350
    Car Finance - £4348.38
    TOTAL £ 14,879.52

    I am so determined to get these paid off now! I'm 25 now and have had debt since I was old enough to have a CC/OD! I would, one day, like to be a homeowner but it feels impossibly unobtainable at the moment

    If anyone has any tips or advice it would be greatly received, I will let you know how I get on, I can do this!!!

    R x
Page 1
    • RebeccaAnney
    • By RebeccaAnney 7th Mar 17, 2:07 PM
    • 19 Posts
    • 25 Thanks
    RebeccaAnney
    • #2
    • 7th Mar 17, 2:07 PM
    • #2
    • 7th Mar 17, 2:07 PM
    I have done a spreadsheet for my weekly wages, what I have to pay and when. I need to tackle the catalogue ASAP as this is only interest free for the time being (it then skyrockets!) so out of this weeks wages I will pay £219.98 off of the catalogue debt. Next weeks wages will go to CC's.


    To be honest the weekends are a real struggle for me to avoid spending, how does everyone combat this?


    I aim to have halved my debts by Dec 2017 (straight down the middle to put a number to it - £7439.76), the interest on CC's are really eating up so much of my payments it feels like I'm making such little progress. I applied 8 months or so ago for another CC to balance transfer but was rejected, maybe this was a bit of a blessing given this was pre LBM!!


    NSD for the foreseeable - I'm assuming the best way to do this is be prepared? Packed lunches to work and dinner planned ahead. Does anyone have any other tips?


    R x
    • kittykatneedscash
    • By kittykatneedscash 7th Mar 17, 3:19 PM
    • 43 Posts
    • 53 Thanks
    kittykatneedscash
    • #3
    • 7th Mar 17, 3:19 PM
    • #3
    • 7th Mar 17, 3:19 PM
    Weekends are a real struggle to me I live alone and can't for the life of me not go out or spend money at the weekend. I don't buy myself much 'stuff' but I do end up spending money on drinks , taxi's, food etc. I just try and be extra good during the week and then be a little more relaxed at the weekend not very MSE but if not I think I'd go stir crazy
    • RebeccaAnney
    • By RebeccaAnney 7th Mar 17, 3:46 PM
    • 19 Posts
    • 25 Thanks
    RebeccaAnney
    • #4
    • 7th Mar 17, 3:46 PM
    • #4
    • 7th Mar 17, 3:46 PM
    Me too Kitty its hard finding that balance between paying off debts and still having a social life! Before I would have paid for drinks, food, trips away on my credit cards for fear of missing out but I'm trying to think of the end (debt free) result now. I wish I didn't buy much stuff but I am a sucker for temptation so I am avoiding shopping at all costs
    LBM 07/03/17 CC Debt - £7472.87 | Catalogue - £708.27 | OD - £2350 | Car Loan - £4348.38
    Total £14,879.52
    • LollyC_x
    • By LollyC_x 7th Mar 17, 3:50 PM
    • 9 Posts
    • 4 Thanks
    LollyC_x
    • #5
    • 7th Mar 17, 3:50 PM
    • #5
    • 7th Mar 17, 3:50 PM
    I don't know what your living situation is but I try to invite friends round at a weekend to watch a film or cook that way you still socialise but it's relatively cheap?
    Savings
    Equity loan savings: £150/£24,599
    Emergency fund: £200/£10,000
    Outstanding mortgage: £88,709.48/£89,000

    April 2017 GC: £- /£120
    • RebeccaAnney
    • By RebeccaAnney 7th Mar 17, 4:31 PM
    • 19 Posts
    • 25 Thanks
    RebeccaAnney
    • #6
    • 7th Mar 17, 4:31 PM
    • #6
    • 7th Mar 17, 4:31 PM
    I live with my OH who is opposite end of the money spectrum to me.. if he can't afford it he doesn't buy it, I really need to adopt that attitude! So this weekend he's working every hour under the sun and a lot of my friends work weekends or want to go shopping which I'm desperately trying to avoid. I'm dog sitting at my dads house while he's away this weekend so will be a good excuse to stay in, chill out and hopefully not spend.. fingers crossed!
    LBM 07/03/17 CC Debt - £7472.87 | Catalogue - £708.27 | OD - £2350 | Car Loan - £4348.38
    Total £14,879.52
    • Bobarella
    • By Bobarella 7th Mar 17, 5:44 PM
    • 10,109 Posts
    • 64,678 Thanks
    Bobarella
    • #7
    • 7th Mar 17, 5:44 PM
    • #7
    • 7th Mar 17, 5:44 PM
    Good luck with it all. It's good your OH is a frugal guy that will help loads.
    Debt neutral
    Roadkill 17 £52.30 2016-£62.28 2015- £84.20)
    RYSAW17 £1475.90 2016 £2,535.16 2015 £1027.20
    PAYDBX 7 #£397/£760 to go!!
    NST March1 4/15
    • timetobefrugal
    • By timetobefrugal 7th Mar 17, 6:01 PM
    • 39 Posts
    • 81 Thanks
    timetobefrugal
    • #8
    • 7th Mar 17, 6:01 PM
    • #8
    • 7th Mar 17, 6:01 PM
    Just wanted to pop in and say hi! Another 20 something who has been in debt forever and wanting it gone.

    I think it's full of ups and downs trying to get yourself out of debt, sometimes I think yeah this is great I'm sticking to my budget not spending money on stuff I don't need. Then other days I'm like ugh why am I in this mess I can't even afford to go and splurge £50 on clothes as a treat for myself! Then I remember that thought process is the reason I'm in this mess and my inner impulsive buyer is quashed lol!

    Anyway good luck
    Total Debt Jan 2017 £16339.86
    • RebeccaAnney
    • By RebeccaAnney 7th Mar 17, 7:12 PM
    • 19 Posts
    • 25 Thanks
    RebeccaAnney
    • #9
    • 7th Mar 17, 7:12 PM
    • #9
    • 7th Mar 17, 7:12 PM
    Thanks Bobarella, I could definitely learn a thing or two from him! He's self employed so has to be better with money but he also has the opportunity to earn a lot more if he works more so it's swings and roundabouts. Overtime is not an option for me.. maybe a blessing in disguise really.

    Timetobefrugal you sound just like me, I used my Christmas bonus to pay a chunk off of my credit card (barely scratched the surface but it felt like an accomplishment in itself) then January sales came and I spent double what I had paid off!! At the time I was convinced I REALLY needed that new handbag.... I think it will be a long drawn out battle trying to quash my inner impulsive buyer but I'm working on it!
    LBM 07/03/17 CC Debt - £7472.87 | Catalogue - £708.27 | OD - £2350 | Car Loan - £4348.38
    Total £14,879.52
    • RebeccaAnney
    • By RebeccaAnney 8th Mar 17, 9:30 AM
    • 19 Posts
    • 25 Thanks
    RebeccaAnney
    Successful NSD yesterday, hoping for the same until payday on Friday. I have £15.22 left once rent and car insurance payments have left my account tomorrow. My spreadsheet is now quite extensive with budgets to December 2017 listing my wage each week and exactly what it’s attributed to. I get a huge sense of satisfaction highlighting the things I have paid for as each week passes.

    I had a pay rise week before last and had started my budget prior to this so decided I would put the pay rise money into a savings account. It’s about £30 a week extra and I thought I would put it in there to accumulate and eventually treat myself to a last minute holiday deal after the summer. It probably won’t materialise but at least there’s something of an EF there if I need it.

    Hearty dinner in the slow cooker, just as well as it’s a cold, wet and miserable day, OH working late this evening so the plan is to have a long, peaceful soak in the bath.
    LBM 07/03/17 CC Debt - £7472.87 | Catalogue - £708.27 | OD - £2350 | Car Loan - £4348.38
    Total £14,879.52
    • RebeccaAnney
    • By RebeccaAnney 9th Mar 17, 11:15 AM
    • 19 Posts
    • 25 Thanks
    RebeccaAnney
    Plans of both NSD and a soak in the bath did not last long the last of my £15.22 has been spent..

    My mum has been unwell and phoned me at work yesterday in tears, she's ill and fed up of being ill. So I picked her up some flu tablets, fresh fruit and flowers and stopped by hers after work. I also picked up a bar of Dairy Milk for my Grandad who's in a Dementia home not too far away. Mum feels guilty if she can't make it up there so I spent an hour with him after leaving hers. He seems to be declining quite rapidly lately. I call him Steve McQueen because he thinks he is serving time in prison and often makes attempts to escape!

    This week is always a boring week for getting things paid as it’s the week rent is due, it doesn’t leave much room to pay anything else rent week, but I’m looking forward to making some more progress over the next few weeks. Hope everyone is having a good week? Does anyone do anything in particular with the odd left over £’s and pence in their account?
    LBM 07/03/17 CC Debt - £7472.87 | Catalogue - £708.27 | OD - £2350 | Car Loan - £4348.38
    Total £14,879.52
    • RebeccaAnney
    • By RebeccaAnney 14th Mar 17, 11:43 AM
    • 19 Posts
    • 25 Thanks
    RebeccaAnney
    Pretty low spend weekend looking after my Dads dogs, was glad to be home on Sunday though, £6.99 for lunch with friends on Saturday (£6.99!!!!). Managed to juggle figures from Friday's pay to maximise amount I can balance transfer. I worked out that November 16 until beginning of March I have paid £550 in interest.. if only that was coming off of my debt! Scary! So I can't balance transfer everything (due to only doing BT between existing cards and not having available funds to BT all) but should at least half the interest for now.

    Fridays pay, £360.95, which is being spent..

    £150.00 CC2
    £158.00 Catalogue
    £30.00 Savings
    £10.00 Petrol

    Leaving me £12.95. Maybe I will open another savings account for these leftover amounts. OH taking me on a spa stay this weekend as he has been working so much, looking forward to some quality time together and a bit of R&R
    LBM 07/03/17 CC Debt - £7472.87 | Catalogue - £708.27 | OD - £2350 | Car Loan - £4348.38
    Total £14,879.52
    • Bobarella
    • By Bobarella 14th Mar 17, 7:43 PM
    • 10,109 Posts
    • 64,678 Thanks
    Bobarella
    I hope your Mum is better soon RA I did smile at your description of your Granddad
    Debt neutral
    Roadkill 17 £52.30 2016-£62.28 2015- £84.20)
    RYSAW17 £1475.90 2016 £2,535.16 2015 £1027.20
    PAYDBX 7 #£397/£760 to go!!
    NST March1 4/15
    • RebeccaAnney
    • By RebeccaAnney 14th Mar 17, 7:59 PM
    • 19 Posts
    • 25 Thanks
    RebeccaAnney
    Thanks Bobarella, she seems to have found her positivity now she's on the mend, I really felt for her because there's nothing worse than being ill! Hope all is well with you
    LBM 07/03/17 CC Debt - £7472.87 | Catalogue - £708.27 | OD - £2350 | Car Loan - £4348.38
    Total £14,879.52
    • Bobarella
    • By Bobarella 14th Mar 17, 8:04 PM
    • 10,109 Posts
    • 64,678 Thanks
    Bobarella
    Well that is good news. Hope you enjoy the spa break!
    Debt neutral
    Roadkill 17 £52.30 2016-£62.28 2015- £84.20)
    RYSAW17 £1475.90 2016 £2,535.16 2015 £1027.20
    PAYDBX 7 #£397/£760 to go!!
    NST March1 4/15
    • Scott_Weiland
    • By Scott_Weiland 16th Mar 17, 10:00 AM
    • 249 Posts
    • 458 Thanks
    Scott_Weiland
    My advice try doing market research surveys its a nice little income boost 50-100 extra per month for 1-2 hours a few times a week.

    http://www.moneysavingexpert.com/family/make-money-surveys

    Second tip top cashback.co.uk or quidco sign upto either of those if your buying online use either of those good money is there to be had for little things i recently changed my internet provider and got 50 quid, a friend moved from a bt package to sky and i got 135 quid just for going through top cashback. Every little helps me and my oh use just eat from time to time getting money back for buying a takeaway treat 1-2 times a month is great, ebay, argos, dixons, hmv etc etc are all on there.

    Third tip be realistic with yourself as an example do you really need a/b/c/ etc etc having an iphone 7 etc etc is great but is it worth it. I work in the financial services industry and i see on a day to day basis people with the last mobile phone contract 50-75pm or virgin or sky bills for 75-100 pounds per month or huge huge weekly shopping bills. Do whats called an soa i will post a link later then go through everything and think right as an example say you paid the following

    car insurance 60 quid (if i swapped insurers at time of renawal what could i save/earn via a cashback site)

    virgin media 75 quid (could i get a better deal elsewhere/cashback site again/could i bin the movie channels or sports and get a better deal elsewhere/now tv/ or ring your provider and say look virgin/talk talk have approached me what can you offer?.


    mobile phone 45 quid (sim only deal)

    gas electric 90 pm (try cashback sites and go compare etc)
    Last edited by Scott_Weiland; 16-03-2017 at 10:14 AM.
    Debts 16349.33
    • RebeccaAnney
    • By RebeccaAnney 16th Mar 17, 11:40 AM
    • 19 Posts
    • 25 Thanks
    RebeccaAnney
    Thanks Bob, bit annoyed with myself for leaving it so late booking in our treatments, we took the two last slots at really awkward times but hey beggars can't be choosers! I'm working my way through your diary and enjoying it very much I will post when I have read it all!

    Thanks for all the amazing advice Scott, I have been thinking of doing an SOA but wasn't sure if I can use a template from somewhere.

    I used to use Toluna I think it was called but found it very time consuming and honestly I take my hat off to anyone with the patience for it. I might have to give it another go when I get some time.

    With my phone contract I have an iPhone 6, contract ended in December and I looked into upgrading to iPhone 7 Plus and didn't see I could justify upgrading for very little difference in phone spec (that I would notice anyway!) so I'm paying £18 pm sim only and not tied into contract. Renewed Virgin in Jan, TV package, phone line and broadband £45 pm tied in for 12 months. Car insurance I definitely could do with renewing I'm paying £57 a month and if I renewed now it will cost about half but it's not up for renewal until Sep and could really do with this years NCB. Hope all is well with your flat? Are you in now?
    LBM 07/03/17 CC Debt - £7472.87 | Catalogue - £708.27 | OD - £2350 | Car Loan - £4348.38
    Total £14,879.52
    • Scott_Weiland
    • By Scott_Weiland 16th Mar 17, 6:18 PM
    • 249 Posts
    • 458 Thanks
    Scott_Weiland
    try starting off with these survey sites

    opinionoutpost.co.uk

    the surveys are usually 4-5 mins long and payout is easily achieveable

    power of opinions.co.uk

    one poll.com

    and ipsosisay.com
    Debts 16349.33
    • Scott_Weiland
    • By Scott_Weiland 16th Mar 17, 6:26 PM
    • 249 Posts
    • 458 Thanks
    Scott_Weiland
    Yes flat wise i am in and settled kinda, i still have some bits to get for my kids room when he visits but i will get there slowly lol
    Debts 16349.33
    • RebeccaAnney
    • By RebeccaAnney 24th Mar 17, 12:14 PM
    • 19 Posts
    • 25 Thanks
    RebeccaAnney
    It does take time, I've been in my flat almost 15+ months and I still have blinds and curtains to put up! Glad you're getting there though.

    Spa weekend was so lovely, just what was needed and we had our rooms upgraded to sea view for free

    Friday means payday for me so have my amounts ready to be paid towards my debts, a chunk (£190) of this weeks wage (£361.15) is eaten up by car loan but have put as much as I can towards debts with whats left, it all adds up. I feel so much more in control of my money now that I plan so far in advanced exactly what I'll pay and where. It feels really satisfying! It's the little things I guess.

    Savings took a slight dip over the weekend and beginning of this week. I had a moment of weakness and bought two tops (£30 - not too bad but felt so unbelievable guilty afterwards - something I clearly haven't experienced before) and had to take out another £20 for fuel and contribution to a friends welcome home present. She is in the Navy and has been away on ship for +6 months so we have got some goodies for her.

    Last night I went to the cinema (half price cinema tickets courtesy of a friends corporate discount) and had a voucher for free popcorn after filling out a survey on their website so cost me a total of £6.50 all in. We watched Beauty and the Beast and I wholeheartedly recommend it to everyone, it's honestly so magical.

    Off to said Navy friends for dinner with all of our friends tonight for a much needed catch up. Potential NSD (aside from petrol put in this morning) today and tomorrow if I play my cards right. Have a Prezzo voucher I may use tomorrow to treat OH to dinner and doing a home cooked Roast on Mothering Sunday for Mum.

    Will update totals soon, they don't look much different at the moment thanks to Balance Transfer fees (rubbish deals too but thought 6 months no interest was better than nothing..)

    Hope you all have a lovely weekend!

    R x
    LBM 07/03/17 CC Debt - £7472.87 | Catalogue - £708.27 | OD - £2350 | Car Loan - £4348.38
    Total £14,879.52
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