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  • FIRST POST
    • dionysia
    • By dionysia 24th Jun 17, 3:47 PM
    • 63Posts
    • 131Thanks
    dionysia
    Stopping shopping
    • #1
    • 24th Jun 17, 3:47 PM
    Stopping shopping 24th Jun 17 at 3:47 PM
    Hereís my new diary! Iíve been lurking around the boards for a few weeks now and see how it seems to help people keep themselves accountable

    My debts are £16,818. This comprises £8325 on a personal loan (due to be paid off September 2019) and £7893 on a credit card (0% until November 2019). I also owe £600 to my parents, who are very kindly flexible about when itís paid back, I will do this in the next six months but would like to build up savings a bit first.

    Minimum payments are around £500/month (£321 on the loan and last payment on the cc was £181 but this is reducing very slightly each month). Both are paid by direct debit so I never need to worry about missing a payment. Iím also due to pay off my student loan next month and excited about this! I currently have about £420 in a stocks and shares ISA via the Moneybox app, this has been working well for me as an emergency fund because it takes about two weeks to withdraw. When savings are too easy for me to get to I get complacent about spending because I know I can pay myself back.

    My goal is to pay off the loan next summer - the amount saved on interest by settling it a year early will be hardly anything but it would be a relief to get the fixed payment gone. Iíll then continue saving to pay off the credit card, but want to keep money available for upfront costs in case I need to move house when my current two-year fixed-term AST ends in May 2019. Hopefully Iíll stay where I am and just pay off that card at the end of the 0%.

    My big goal is to be debt free by my 35th birthday in early 2020 and also have a fancy holiday to celebrate that milestone (all paid for/saved for in advance, of course!)

    Apart from a couple of short periods Iíve been in debt almost all of my adult life and really need to get out of the cycle. My problem is simply too much treating myself to things I canít afford. LBM came when I moved last month. Partly it was trying to streamline my possessions for packing, when I realised that lots of the debt was spent on things I donít even own anymore, and partly because my expenses have increased significantly. I had been sharing with an old friend who decided to leave London and I just couldnít face living with strangers so now Iím renting alone which is great but very expensive, so I just can't go on the same way I have been.

    Iím lucky to earn a good wage and can afford my basic living costs and debt repayments with nearly £700 surplus to go to savings/overpaying the debt/fun money, so absolutely doable if Iím sensible. I need to be disciplined, learn good new habits, and properly stick to a budget and thought being here would help keep me on track!
Page 3
    • gonebust
    • By gonebust 5th Jul 17, 10:23 AM
    • 168 Posts
    • 625 Thanks
    gonebust
    Spendy day yesterday, I went for a drink with a friend, but planned for and I stayed in the amount I'd allocated. Then another expense on the leaving collection for someone at work. I hadn't realised but it's going to be a very expensive month there, five people leaving my team this month! I'm one of the more senior people so I do feel a responsibility to make sure cards are got and put a decent amount in the collection and buy a round at the leaving drinks, but the amount this will all add up to this month is a bit silly.

    Since I moved, every day I walk past a small coffee cart on the way to work and it smells lovely. For the first few weeks I would always think oh I could it's only a couple of quid and have to be strict with myself, but just noticed today I walked past and it doesn't even occur to me anymore that I might stop for a coffee - it's just not something I do. It's nice to see these hard things start to become habit .
    Originally posted by dionysia

    Well done on the coffee . As you say it's "only" a couple of quid, but over a week, it all mounts up.

    The office collection, that's a toughie. It's something else needs to be looked at really. As you say, you buy the card, you add to the collection, then buy everyone drinks, that's serious expenditure, esp for 5 people

    Can you not do all that for some of them? I mean are you closer to some then others? So for the ones you aren't so friendly with, buy the card, put a token amount in, then have a prior engagement on drinks night? obviously I don't know the culture of where you work but 5 people leaving in a month seems to say high staff turnover so they can't all be best friends. That's just me though, I wouldn't be spending much on people I don't really know, possibly don't even like and in all probability never see again
    • dionysia
    • By dionysia 8th Jul 17, 3:50 PM
    • 63 Posts
    • 131 Thanks
    dionysia
    @gonebust I am closer to some than others so I'm going to try to scale it up and down! I should be able to skip one or two of the rest of the drinks. They're leaving the team but not the organisation though so I will see several of the leavers again and still work with them, so have to keep things friendly!

    In the meantime though, I did go to one of the drinks last night and spend more than intended :/. I've spent quite a lot this month so far - a lot of my budget, and a lot of it has gone on this wave of leavers. I think I need to move some money from my purchases pot and increase the amount going to this in the next few months, instead of accounting for it from my monthly budget, since it's such an unusual number of people.

    I have also got the bingey feeling of oh I've blown the budget, might as well go out and spend spend spend. otoh I'm thinking of going and spending a tenner on things I don't really need in sainsbos, which is an improvement on thinking longingly of going and blowing fifty quid on clothes and makeup! Did a £7 (!) survey on Pro!ific 4cademic this morning which once it's approved will put me over twenty to cash out, so I can add a bit more this month.
    June 2017: owe £16,818.
    • dionysia
    • By dionysia 9th Jul 17, 8:41 PM
    • 63 Posts
    • 131 Thanks
    dionysia
    NSD yesterday. Today did a food shop, I'm coming in about where I wanted to for food which is good since I don't feel like I'm depriving myself (strawberries and cream today for a treat!) Then walked to the posh cinema (3 1/2 miles and it was warmer than I expected ) and had tickets for a free screening, so only a bottle of juice bought. That's a big improvement than the glass of wine I would've had a few weeks ago! I am starting to find the money-saving mindset developing on some things.I've plans only one night this week and they're cheap ones, so should get a few NSDs this week.
    June 2017: owe £16,818.
    • gonebust
    • By gonebust 10th Jul 17, 11:04 AM
    • 168 Posts
    • 625 Thanks
    gonebust
    Sounds like you are going the right direction still so well done

    I'm no saint you know, I spent more then I could afford down the pub Saturday as well . Now I've not a penny to my name unless I rob my money boxes. Luckily I've fuel in the car and food in the house so I'm not too bad, and if my boss was more reliable at paying me, I wouldn't be in such a bad position. I was promised pay that I was owed plus last weeks money Saturday, still waiting ..............
    • EssexHebridean
    • By EssexHebridean 10th Jul 17, 12:15 PM
    • 8,146 Posts
    • 42,981 Thanks
    EssexHebridean
    Glad it's not just us that buys fruit as a treat - our splurge yesterday was £2.50 on British Cherries which we sat and ate last night - they were lovely!
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£632.77 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • dionysia
    • By dionysia 10th Jul 17, 7:18 PM
    • 63 Posts
    • 131 Thanks
    dionysia
    NSD as planned! Only wrinkle was having to get the bus home instead of walking, I put on some shoes that were fine last summer and they've rubbed me raw! But that's already accounted for when I top up on my Oyster, so not really a spend.

    @gonebust that's awful about your boss is it a small business? You should be able to go to the pub without having to worry your money will come for work you've done!

    @EssexHebridean I'm on a bit of a diet as well at the moment, off the cakes and chocolate so fruit is my bit of sweetness! Although really I think fruit that's just perfectly in season and delicious is always a treat. Your cherries sound lovely!
    June 2017: owe £16,818.
    • gonebust
    • By gonebust 10th Jul 17, 9:56 PM
    • 168 Posts
    • 625 Thanks
    gonebust
    Yep it's a tiny business building up, and I am the only person drawing a wage so I am pretty flexible as in if someone's not paid their bill I hold on a while. Only I've been holding on a month ATM

    Trouble is if I jack, contracts get lost and I've no chance or being paid. Sooooo I carry on. It comes eventually. Being fugal and always checking prices means I can survive

    So I owe my DH petrol money right now and I can't treat the grand kids from my own earnings this week, but as said before, I know where every penny I've come in goes out and so we won't starve. Indeed we had a steak dinner tonight.And wine. Lovely it was, even though I cooked it and it wasn't a meal out
    • dionysia
    • By dionysia 11th Jul 17, 7:15 PM
    • 63 Posts
    • 131 Thanks
    dionysia
    Bit of a frustrating day today. Really wanted a NSD but then remembered one of the people leaving also has a birthday, so detoured into a card shop and bought two cards on the way in. His is the last collection though and I'm not sure he's having drinks so hopefully nearly at the end of this uncommon expense.

    Then got a set of vouchers in the post yesterday for pizza at my favourite takeaway place, bad for the diet and the purse but it rained on me all the way home and I desperately wanted it! Just about resisted and had tea in as planned, but not very happy about it! But this month really really does need to be frugal. So promised myself I could have pizza next month if I wanted it. Also Dave Ramsey podcast on the way home to get me through the hard bit of dithering , one of the callers said something that really hit me about how free he feels of the debt. Reminded myself that although not being able to just spend what I want feels restrictive, it's actually much more freeing than spending and regretting it, and definitely more than spending but going further into debt to do it.

    @gonebust that still sounds a bit scary to me but the important thing is you're comfortable . And great that you have the discipline to know you've set things up so you can cover a bit of a delay!
    Last edited by dionysia; 11-07-2017 at 7:46 PM.
    June 2017: owe £16,818.
    • gonebust
    • By gonebust 11th Jul 17, 8:35 PM
    • 168 Posts
    • 625 Thanks
    gonebust
    Thing is, what I'm saying is I too would like to get a pizza out of budget. I too would like to get something for me, out of budget

    Only I can't because I've not been paid

    It pees me off, same as it does you, that there is nothing in the budget to have a little treat

    I've been living a frugal life for nearly as long as you have been alive and what I'm trying to say, is although is gets easier, in as far as debt is covered, bills and nessecities , you still need that excess tucked away somewhere so you aren't borrowing from Peter to pay Paul and still having something of a life

    I've not been paid for nearly a month so now my little pots are depleted. I now no longer have money that's not allocated. As I said I will get the money owed eventually but it will leave me short for yet another month whilst I restock my emergency pots.

    I'm not going to starve, I'm not going to lose my home, car or anything, just can't afford any extra expense for a while
    • dionysia
    • By dionysia 11th Jul 17, 9:25 PM
    • 63 Posts
    • 131 Thanks
    dionysia
    @gonebust I'm sorry to hear that. I'm paying for my own poor decisions though in that I need to repay my debt, and it seems a sad thing to me that you're in the same penny-pinching circumstances but it's because you haven't been paid. But I guess it becomes a question of when to cut your losses with the job if this happens often.
    June 2017: owe £16,818.
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