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    • Silver Queen
    • By Silver Queen 24th May 17, 3:16 PM
    • 153Posts
    • 820Thanks
    Silver Queen
    £15,000 to 0
    • #1
    • 24th May 17, 3:16 PM
    £15,000 to 0 24th May 17 at 3:16 PM
    Hi

    I have decided to re-join this forum so that I can stay motivated to bust my debt.

    A bit about me...I work full-time in central London which gets me about £1.4k per month.

    I owe £15,000 exactly on 0% interest. This is £13,000 to bank of ma and pa (started at £16,000 in October), which paid for my postgrad, and £2k of student overdraft.

    I pay £250 per month to my parents but I would like to start making overpayments.

    Frankly, until now, I have not really even thought about my student overdraft because it's on 0%. However, in June or July (not sure which - oops), it will reduce by £1k so I will need to pay it back ASAP.

    I live at home at the moment, although I will be moving out in September.

    My monthly expenses are food and £350-ish on a train ticket since I commute into London daily. I also pay £200 per month into a help to buy.

    Goals
    1. Pay back £1k into my overdraft by end of July, whilst continuing to make £250 repayments monthly.
    2. Save a £1k moving fund. I am trying to declutter and become more minimalist so that I don't have so much stuff to move, but there will be general moving expenses.
    3. This one is a bit ambitious - I would like to try to pay back all the monies owed to my parents by next year. The current agreement is that I would keep paying them £250 pa until 2021 but I really really don't want to do that, because...
    4. This one is long-term. Save £20k by 2021 so that I can be on my way to putting down a deposit for a house.


    I have started this diary because although I have been on the debt free journey for about three/four months, I have been noticing myself slipping lately, so hopefully this will hold me accountable!
    Last edited by Silver Queen; 24-05-2017 at 5:37 PM.
Page 2
    • Silver Queen
    • By Silver Queen 3rd Jun 17, 9:03 PM
    • 153 Posts
    • 820 Thanks
    Silver Queen
    Had an excellent time last night and didn't actually end up spending that much, it was definitely worth it to meet new people and finally socialise with people that aren't lawyers...

    Bit worse for wear today so mostly been lazing about but managed to find an appropriate sized pot to re-pot my orchid. It's really outgrown its pot, I know orchids prefer "tight shoes" to big roomy ones but it was really looking sad.

    To do today and tomorrow:

    Strip and make bed.
    Hoover around the house.
    Make lunch for Monday and plan what other meals I'll be having in the week.
    Empty bins and take out the rubbish.
    Organise my toiletries - I have so many and want to get use out of them instead of continually accidentally buying more because I think I've run out when I actually have loads!
    Consider sending a box of books to We Buy Books. I used to have a great big shelf full but I've sold the majority of them now.
    Try to re-shuffle money for my finances to look a bit less bare this week.
    Reach the £5 payout on Prolific Academic

    The £250 to my parents went out today but I still am on the fence about paying the overdraft. I'll decide on Monday when the bank is open again. On the one hand, I'd love the satisfaction of paying off a big chunk now. On the other hand, I'm loath to leave money on the table and even though it is only £4, that's £4 I wouldn't have otherwise...

    Luxurious I know but my boyfriend and I have never spent one of our birthdays in the UK, we always go on a short break at least. His birthday is in September and he's asked if we can go to Barcelona. Something about football...I'd also love to go to Barcelona, more for the history but if I can manage to afford it then I'd like to go. We do budget hols so it would cost us about £150-£200 each. Something to think about!
    • Silver Queen
    • By Silver Queen 4th Jun 17, 1:05 AM
    • 153 Posts
    • 820 Thanks
    Silver Queen
    More bad news

    I hope that all you Londoners are safe and sound tonight.
    • Silver Queen
    • By Silver Queen 4th Jun 17, 9:32 PM
    • 153 Posts
    • 820 Thanks
    Silver Queen
    Hi all.

    Managed to make £20 on WeBuyBooks which will really help the spending budget this month.

    Checked my finances and after all my direct debits are paid out this month, I have £15 plus the £20 from WeBuyBooks. This will have to cover food (lunch only), any additional travel and any other luxuries. It is theoretically doable and I really want to stick to this as a challenge to myself. I'm very aware that I have a LOT more disposable income than most people and I know so many amazing people manage on significantly less than that. After all, the sole reason for my not having money is because of my own haphazard spending in the past week.

    If it really isn't possible, I will borrow from my Help to Buy but I don't want to do that unless it's really necessary. Alternatively, the boyfriend keeps trying to give me money, bless him, but I don't really want to go down that route.

    Sometimes I feel like I'm talking to thin air on here but it really helps me keep on track so I'm going to keep posting anyway

    Had a semi-productive day -
    1. Managed to talk to the boyfriend about his studies and other bits and bobs I needed to remind him about. I'm eight years younger than him but sometimes I really do feel like his keeper - he is just so disorganised! He's worth it though so I shouldn't complain too much.
    2. WeBuyBooks, as above.
    3. Tried to dye a dress - this was a fail. One of my dresses which is white at the top and black at the bottom had gone a bit grey all over, so I thought I would just dye it and make it a black dress. It didn't work! The dye didn't take properly and so the dress is now a weird sort of beigey colour. I have to decide whether I want to try again or just give up on that dress. It's a work dress and quite formal, but I really couldn't wear it in its grey state. It cost me £8 in the dorothy perkins sale a few months back and I really do like it, but I'm bitter that I only got to wear it 5/6 times.
    4. Managed to give my house plants a bit of TLC, which was nice and relaxing.
    5. Finally updated my itunes. The music that was previously on there had been partially corrupted so only four albums played - two Katy Perry and two Nicki Minaj. That got old really quick.
    6. Masses and masses of laundry. Endless laundry. Why do I have so many clothes? Need to do a clothes declutter.
    7. Made lunch to bring to work tomorrow! Just need to not forget it.
    8. Changed the bedsheets (yay!)

    Have been trying to distract myself from the atrocities of the world today but it keeps springing back into my head. Hope everyone is safe and happy and well.
    • Silver Queen
    • By Silver Queen 4th Jun 17, 9:44 PM
    • 153 Posts
    • 820 Thanks
    Silver Queen
    Debt Totals - 04.06.17

    Overdraft: -£1000
    Bank of Mum and Dad: £13,250 (Turns out I misremembered. The original loan was £16,500, not £16,000 - I owe them £500 more than I thought. Bl00dy hell.)
    Amex: -£108. In a moment of insanity I decided I needed new work clothes and bought over £100 worth. Fortunately for me, they arrived and they all look hideous so they've all been returned. My Amex balance should revert to +£10 soon.

    June Goals
    1. Continuing on from the above, part of the reason why all the clothes look awful on me is because I've gained a lot of weight thanks to my extremely sedentary job.
    Goal #1 for June is to lose 5lbs.
    2. Thanks to my mammoth overspending this month, I have a tighter budget than usual. Goal #2 is to not borrow any money from my Help to Buy or from any friends, family or the boyfriend in the month of June.
    3. Before I got my pay rise a couple of months ago, I was on minimum wage and found it difficult to actually get month to month whilst trying to maintain some kind of semblance of a social life. I funded it by selling everything that I didn't deem necessary. Since I got my pay rise, I have sort of lost the motivation to continue selling things but I need to get back into it since I will be moving soon and I really just have so much stuff. Goal #3 for June is to declutter 10 items, besides the items I have already sold at this point.
    Last edited by Silver Queen; 08-06-2017 at 3:46 PM.
    • Bobarella
    • By Bobarella 4th Jun 17, 9:57 PM
    • 10,475 Posts
    • 69,539 Thanks
    Bobarella
    That's a shame about the extra £500. But you sound like you have a plan now and really that's the important thing to get straight.
    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
    • Treadingonplaymobil
    • By Treadingonplaymobil 5th Jun 17, 6:51 AM
    • 1,012 Posts
    • 9,338 Thanks
    Treadingonplaymobil
    Popping by to say hello. What a shame about the extra £500, but at least you know now rather than finding out when you thought you'd reached DFD!
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 2nd Aug 17/DFD: £55,011.96/1st May 2025
    • Silver Queen
    • By Silver Queen 5th Jun 17, 6:03 PM
    • 153 Posts
    • 820 Thanks
    Silver Queen
    Thanks both! Serves me right for not checking properly to be honest. Ah well, not the end of the world, just means it will take slightly longer than I imagined. And maybe holiday in September ain't the greatest idea!

    Clever me forgot my lunch AGAIN, but luckily I had an emergency can of soup which I had instead. Bought some bread rolls, a drink, and some tangfastics (oops) using my nectar points, spending a grand total of 5p.

    Tonight the boyfriend is making an appearance again, but we are both pretty poor so will be having a quiet night in.

    £11.35 refund today because something I bought almost a month ago didn't show up and the seller refused to respond to any of my messages...she finally messaged me after I raised a claim on paypal, surprise surprise, but I decided I didn't want it by then. So should have £11.35 winging its way to me today so there's a positive to end on!
    • Silver Queen
    • By Silver Queen 7th Jun 17, 1:07 PM
    • 153 Posts
    • 820 Thanks
    Silver Queen
    Having been rather inspired by TOPM, I finally had a go at snowballing. It looks like my DFD is November 2019 - obviously I want that to be much closer! Watch this space
    • EssexHebridean
    • By EssexHebridean 7th Jun 17, 3:08 PM
    • 8,013 Posts
    • 41,421 Thanks
    EssexHebridean
    Always good to have a target to beat, eh!
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£544.67 (17/10/17)
    • Treadingonplaymobil
    • By Treadingonplaymobil 8th Jun 17, 5:08 AM
    • 1,012 Posts
    • 9,338 Thanks
    Treadingonplaymobil
    Well I am pretty inspirational

    Having a DFD to beat really does help concentrate the mind - when I had my LBM I was just thinking of getting the debt down enough to reduce minimum payments and lower our outgoings - the actual paying off of all the debt hadn't occurred to me as a realistic prospect! It was putting it all into a calculator and seeing how far away DFD was that actually galvanised me into action.
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 2nd Aug 17/DFD: £55,011.96/1st May 2025
    • Silver Queen
    • By Silver Queen 8th Jun 17, 12:33 PM
    • 153 Posts
    • 820 Thanks
    Silver Queen
    A small windfall of £10 from a barrister who thought I was overworked, felt sorry for me and decided to treat me to lunch

    Account Balances as of 08/06/2017
    1. Amex: -£107.43
    2. Natwest: -£1958.88 (£41.12 available)
    3. Nationwide FlexDirect: £1,200.01
    4. Help to Buy: £401
    5. Cash: £13.11

    Still waiting for
    • £5-ish from Prolific Academic (cashed out £5.50, not sure exactly how much the fee will be but I reckon about 40p)
    • Approx. £20 from WeBuyBooks
    • £111.60 from Dorothy Perkins, which will go straight onto my Amex and clear it with an approximate £4 positive balance.
    • Hiddenidenity
    • By Hiddenidenity 8th Jun 17, 1:46 PM
    • 5,056 Posts
    • 22,979 Thanks
    Hiddenidenity
    All looking good keep going. I do read along just don't always know what to say. So don't feel alone in here I do 'thank' posts to show I'm reading and you're not alone x
    DFW £1388.71/£7348.71 Rent Arrears £511.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
    • Silver Queen
    • By Silver Queen 8th Jun 17, 3:45 PM
    • 153 Posts
    • 820 Thanks
    Silver Queen
    All looking good keep going. I do read along just don't always know what to say. So don't feel alone in here I do 'thank' posts to show I'm reading and you're not alone x
    Originally posted by Hiddenidenity

    You are a gem, you are
    • EssexHebridean
    • By EssexHebridean 8th Jun 17, 3:49 PM
    • 8,013 Posts
    • 41,421 Thanks
    EssexHebridean
    So there IS such a thing as a free lunch after all?!
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£544.67 (17/10/17)
    • Silver Queen
    • By Silver Queen 8th Jun 17, 5:37 PM
    • 153 Posts
    • 820 Thanks
    Silver Queen
    So there IS such a thing as a free lunch after all?!
    Originally posted by EssexHebridean

    Only when you've been told off by said barrister because he didn't tell you he wanted a document for a hearing and you can't read minds, so he looked like a fool in front of a judge and took it out on you, and then felt awfully bad about it afterwards when he'd calmed down....
    • Silver Queen
    • By Silver Queen 9th Jun 17, 9:26 PM
    • 153 Posts
    • 820 Thanks
    Silver Queen
    Phew, what a long long LONG week! Seemed to go on forever...I was convinced that it was Saturday when I woke up this morning, was devastated to realise it's actually Friday

    Personally somewhat pleased about the election result. I'm a leftist through and through, I agree 100% with Corbyn's anti-austerity, so I'm pleased that the Tories are weakened, at least. Although this does mean a weaker pound which sucks.

    Good News
    • The boyfriend got a job down south! It's still about an hour away and the pay is mediocre, and he will have significantly higher expenses but I'm pleased because it's closer to me, and it's a 9-5 job which means we can spend weekends together. I think it will be good for his general health and happiness too.
    • It's the weekend
    • I have wine
    • There's more money in my account than I thought there would be
    • I'm about to have a long, hot bath, watch House of Cards and chill.

    Bad News
    • Boyfriend's said new job means a short-term change of priorities budget-wise. He is a bit of a disaster planning-wise and he only has £400 put away for moving costs. We think it will cost nearer 2k. This means I will probably have to find some way to scrape an extra £1k to lend to him.
    • I'm so swamped at work right now that I had to bring quite a lot of work home for the weekend, which means I will probably be working about 6-7 hours this weekend. And no, I don't get paid for overtime.
    • I forgot my lunch EVERY DAY this week, which meant that I spent about £15 on lunch. At least I have that £10 from the barrister to offset it.
    • Hiddenidenity
    • By Hiddenidenity 9th Jun 17, 9:41 PM
    • 5,056 Posts
    • 22,979 Thanks
    Hiddenidenity
    Make sure you find time to "chill" between work too!

    Good news the boyfriend has found a job closer, boo to having to borrow him money though.

    Have a nice weekend x
    DFW £1388.71/£7348.71 Rent Arrears £511.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
    • Silver Queen
    • By Silver Queen 9th Jun 17, 10:08 PM
    • 153 Posts
    • 820 Thanks
    Silver Queen
    Make sure you find time to "chill" between work too!

    Good news the boyfriend has found a job closer, boo to having to borrow him money though.

    Have a nice weekend x
    Originally posted by Hiddenidenity
    You too
    • Silver Queen
    • By Silver Queen 11th Jun 17, 11:03 AM
    • 153 Posts
    • 820 Thanks
    Silver Queen
    Morning all

    The sun's out and looking absolutely gorgeous today, so I'm going to try to have a frolic outside, but trying to catch up on life this weekend too since I've rather let things slip

    The boyfriend has been making regular weekly appearances which is lovely, but I find that whenever he's here, I don't keep up with housework or planning during the week since I'd rather just spend the time with him. This means my weekends have been rather chocka. Must think of what to do about that.

    Forgot that my little sister's prom is coming up at the end of the month and I'd promised to take care of her make up and shoes so that was £67.50 of not-properly-budgeted-for spending yesterday

    I have also agreed with my parents and older sister that we will each chip in £200 for a new laptop for her birthday, since she will be going into 6th form. She's currently still using her old battered laptop that she's had for 5 years now. In contrast, I'm terrible at looking after my electronic goods and have been through 4 (four) (yes, four) laptops in that time In my defence, the 3rd one was faulty and the company I bought it from admitted that and gave me my current 4th one for free.

    On another note, I have been furniture (window) shopping for my not-too-distant-future move. I'm torn between wanting to get cheaper items and wanting to get good quality, more expensive items that last. I will be living there for at least 2-3 years so not a huge amount of time, but will probably leave my furniture there when I move out. It's my sister's flat so I wouldn't begrudge leaving nice furniture for her since she is charging me a hugely, hugely subsidised rent for where she is. But for the pieces I'm looking at, I'd be looking at spending £1k to fully furnish and maybe something for the kitchen. Something to think about, but I have a bit more breathing room now because the contractors have said the flat won't be ready until mid-end September rather than the initial completion date of end of June, as I predicted .

    To Do Today
    • Plan my lunch for this week
    • Take a walk to a supermarket, either Sainsbury's or possibly Waitrose for the reduced items today, to make use of the glorious sunshine
    • General housework including changing sheets, hoovering, 15 minute quick clean of the bathroom
    • 3 hours of work that I brought home with me so that I'm not so swamped at work next week
    • Make lunch for tomorrow, probably salad (and DON'T forget it!!)
    • Continue to plan the boyfriend's life out for him by making a study timetable to make sure he's prepared for his next exam.
    • Hiddenidenity
    • By Hiddenidenity 11th Jun 17, 12:07 PM
    • 5,056 Posts
    • 22,979 Thanks
    Hiddenidenity
    I'd go for furniture in the middle best compromise
    DFW £1388.71/£7348.71 Rent Arrears £511.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
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