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  • FIRST POST
    • jemreading
    • By jemreading 1st Jul 17, 7:32 PM
    • 81Posts
    • 83Thanks
    jemreading
    Nearly debt free diary
    • #1
    • 1st Jul 17, 7:32 PM
    Nearly debt free diary 1st Jul 17 at 7:32 PM
    Hello,

    I've been lurking and subscribing to a few threads over the past few months and finally plucked up the courage to start a diary!

    As the title says ' nearly' debt free diary.. My current debt situation is below:
    -£350 CC with 18.9% (interest free ended on 25th June 2017)
    - £375 Argos Card (interest free until 25th August 2017)

    It doesn't seem like much but I've shifted approximately £9,500 of debt between October 2015 - June 2017 and I'm struggling with the final bit! I have also tried to get another interest free card to shift my CC balance over but have been rejected.

    I thought a diary might be a good thing as I find myself falling back into bad habits (looking at holidays and clothes I can't afford) and also using a lot of spare change throughout the week to buy small (but adds up) snacks!

    I'm also getting married in October 2019 and plan to start saving for that come August 2017 (me and my OH have a savings plan, but it'll be sticking to it we find challenging!)

    Jem
    CC1 debt: £125/£980.65
Page 1
    • jemreading
    • By jemreading 1st Jul 17, 9:52 PM
    • 81 Posts
    • 83 Thanks
    jemreading
    • #2
    • 1st Jul 17, 9:52 PM
    • #2
    • 1st Jul 17, 9:52 PM
    I've got a spreadsheet system with my current outgoings on (which my OH helped me put together so it calculates my money, where it's going out and how much I'll be left with once it's gone - it's pretty cool!)

    My salary goes in on the penultimate working day of the month, so the 29th June was payday, and here it is a follows:

    Salary - £1336.66
    Definite outgoings:
    Bills (including: rent, CT, internet, water, netflix, spotify) = £350 (paid to OH who pays them off)
    Food shopping (month bill) = £50 (my half - my OH contributes £50 too - new trial scheme this month, so may not be 100% accurate by the end of the month)
    Electricity = £40 (this varies but I set aside £40 as it's never more than £80 between us)
    Football Season ticket = £33.18
    Mobile phone contract = £52.27 (additional charges this month as used O2 travel - usually £38)
    Gym membership = £29.99

    Debt repayments
    A'Card = £200
    CC = £274.88

    Money into pots:
    Savings= £100.00
    Treats (clothing/beauty) = £30.00
    [s]Gifts(birthday/xmas) = £30.00[/s/] used already
    Date night jar = £20.00
    Travel = £50.00
    Socials (drinks out/work socials) = £40.00

    We are also going to re-view our wedding venue tomorrow where our first deposit is required. £500 is going on the CC (this was always the plan) and will be half paid off in next months salary. After this the CC will go back in an unknown location as I had to also pay a £50 deposit to the registrar but this was allocated debt payment which I already pay off from my June pay (OH will put CC away for me!)
    • jemreading
    • By jemreading 2nd Jul 17, 1:52 PM
    • 81 Posts
    • 83 Thanks
    jemreading
    • #3
    • 2nd Jul 17, 1:52 PM
    • #3
    • 2nd Jul 17, 1:52 PM
    Things done today:
    -Clothes washing
    - Visit wedding venue and pay deposit (£500 - CC is now at £850 and OH now has hidden the card)
    - Shopping spend £5.19

    Spend for the day so far is: £505.19 with no more spends (fingers crossed! All my direct debits go out tomorrow and yesterday was a NSD! (Sunday's are usually a NSD)
    • jemreading
    • By jemreading 3rd Jul 17, 5:15 PM
    • 81 Posts
    • 83 Thanks
    jemreading
    • #4
    • 3rd Jul 17, 5:15 PM
    • #4
    • 3rd Jul 17, 5:15 PM
    Today I have spent £2.50

    I spent £1.00 on a breakfast yogurt (I usually have a box of cereal on my desk but I ran out on Friday and forgot to re-stock - will restock tomorrow at Ald! on the way to work)

    At lunch I then spent 45p on a pint of milk for my cereal for the week and a packet of crisps even though I already ate a pack of crisps with my home-brought lunch!!!

    Going to have a visit with the wedding photographer tonight! Exciting stuff but no money is expected to exchange hands.
    • jemreading
    • By jemreading 3rd Jul 17, 10:10 PM
    • 81 Posts
    • 83 Thanks
    jemreading
    • #5
    • 3rd Jul 17, 10:10 PM
    • #5
    • 3rd Jul 17, 10:10 PM
    This evening was a struggle. I've just come back from the wedding photographer (who we love) but his deposit is £500 and then the package we like is £,1,975 which is just too much.

    I don't want to get into debt to pay for a wedding and we have plenty of time to save but I'm struggling with the idea of using my credit card to pay the deposit..
    • jemreading
    • By jemreading 4th Jul 17, 6:32 PM
    • 81 Posts
    • 83 Thanks
    jemreading
    • #6
    • 4th Jul 17, 6:32 PM
    • #6
    • 4th Jul 17, 6:32 PM
    Spoken to OH and wedding photographer. We can pay in three separate deposits of: £175, £175 and £150. My OH is going to cover this as I covered the Wedding Venue deposit.

    Other spends today include:
    £2.29 in Mr T to buy: 1 cereal and 1 croissants (Cereal will now last until August)
    79p in the shop
    £22.99 on a new dress (taken out the 'treat' budget)
    £10 on a nice meal in with OH (taken out the 'date night' jar)
    • enthusiasticsaver
    • By enthusiasticsaver 4th Jul 17, 6:45 PM
    • 3,994 Posts
    • 7,165 Thanks
    enthusiasticsaver
    • #7
    • 4th Jul 17, 6:45 PM
    • #7
    • 4th Jul 17, 6:45 PM
    Don't get into debt for a wedding.

    I struggle with the extortionate costs of photography for a wedding. My daughter and son in law had a photographer but just the basic package so photos just before the ceremony, family groups after and photos of the wedding breakfast and first dance of evening party. They refused the video package as it was more than £1k and my brother took some video footage but they pointed out they would probably only look at it a few times and had only just bought a house so wanted to save the money for that.

    I think the crazy amounts people pay for a wedding are fine if affordable but presumably at some point you may want to buy a house or flat rather than pay rent and starting off married life with a load of credit card debt is not ideal. Well done on tackling your finances now though.
    Countdown to early retirement on 31.12.17 4.5 months to go.
    • jemreading
    • By jemreading 4th Jul 17, 7:16 PM
    • 81 Posts
    • 83 Thanks
    jemreading
    • #8
    • 4th Jul 17, 7:16 PM
    • #8
    • 4th Jul 17, 7:16 PM
    Hi, enthuasiasticsaver, thank you for stopping by!

    You are right. We only paid the deposit for the Wedding venue on the credit card but it is coming straight off in the next two months. We are in a really lucky position that come August Pay Day (30th August) we should be 100% debt free and can then make substantial savings every month!

    We have also come to our senses and going for the very basic photography package which will save us £500! Our photographer has said we can upgrade anytime but me and OH don't want to do that right now.

    I'm also fortunate that my parents are putting some money towards the wedding.
    • beanielou
    • By beanielou 5th Jul 17, 7:36 PM
    • 46,798 Posts
    • 167,095 Thanks
    beanielou
    • #9
    • 5th Jul 17, 7:36 PM
    • #9
    • 5th Jul 17, 7:36 PM
    Happy shiny new diary
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • jemreading
    • By jemreading 5th Jul 17, 8:49 PM
    • 81 Posts
    • 83 Thanks
    jemreading
    Hi beanielou, thanks for stopping by! Yes, brand new. I thought it may help with the careless snack spending whilst I'm working during the week (it hasn't happened yet..)

    Spends for today:
    £1.50 (two packs of sweets from the market)
    £3.00 on Mr T lunch deal (didn't prep the night before like normal)
    £1 football (usually £3/£4 but my friend covered the majority of my costs as I covered for him for the past two Wednesdays)

    Saves of the day:
    £3 new £1 coins to put in my jar - I'm now up to £60 and only been saving since end of April. The goal is to save every new 12 sided £1 coin that comes my way. I'm aiming to use part for my OH birthday present (October) and part for my trip to Prague (November)
    • jemreading
    • By jemreading 6th Jul 17, 8:16 PM
    • 81 Posts
    • 83 Thanks
    jemreading
    Today was hot hot hot but I was in an air con office which was nice!

    I met my sister for lunch today.
    I paid for two milkshakes (cost me £6.98 and was paid with the money I have floating on my debit card - I always leave £50 on here just in case one of my direct debit goes out early)

    My sister got me some lunch from Mr Greggos where she paid for my sandwich and drink for £2.00 I then had my lunch (pasta salad) for dinner instead!

    I told you, currently struggling with spending during the week on snacks.
    • jemreading
    • By jemreading 7th Jul 17, 6:44 PM
    • 81 Posts
    • 83 Thanks
    jemreading
    So far a NSD has happened, however, we are going shopping but this will come out the allocated shopping pot.

    This is the first month that me and my OH have only put £50 each in the shopping budget. We both used to do separate shopping as he has more expensive food tastes a likes buying: fish, smootie ingredients, coffee and soup ingredients. He used to have £180 for his shopping and I had £100 so we've drastically cut it.

    We sorted out a shopping list (by putting food that we need online as we shop @ A$DA and are just finalising it but we are currently in the middle of a disagreement because he wants to add some small extra bits "I'm just seeing how much my separate stuff costs" and I'm trying to explain right now that he doesn't have the money (he is in a fairly high overdraft of £1000+!!)

    Things are not going well
    • jemreading
    • By jemreading 7th Jul 17, 6:52 PM
    • 81 Posts
    • 83 Thanks
    jemreading
    Quick debt update:

    - £850 on CC (18.9% interest which can't be shifted to a 0% as I can't get another card)
    - £375 on Argos Card

    I only normally make 1 debt repayment per month which is usually a lot (It's been well over £500 every month since Christmas)
    • jemreading
    • By jemreading 8th Jul 17, 12:20 PM
    • 81 Posts
    • 83 Thanks
    jemreading
    Todays spend: £249.50..

    I did just purchase a wedding dress! It's from a well known high street brand and the dress was reduced from £500 to £249.50 with free delivery. It can be returned if I dislike it but I've had my eye on it since it came online in January!
    • jemreading
    • By jemreading 9th Jul 17, 9:31 AM
    • 81 Posts
    • 83 Thanks
    jemreading
    I had a bit of a meltdown yesterday afternoon and ended up walking to a shop and buying £2.79 in snacks. It doesn't s seem like a lot but when you figure the £2.79 can go to something else it's a bit of a downer

    Today will be a LSD as I'm going to be buying a bus ticket (£4.20) to go and see my parents I may need to break the £20 note before getting on the bus as the driver will not accept a £20 note.

    I need to post an update of where my money has gone and how much I have left.
    • jemreading
    • By jemreading 9th Jul 17, 9:36 AM
    • 81 Posts
    • 83 Thanks
    jemreading
    Things crossed out have been paid for:

    Salary - £1336.66
    Definite outgoings:
    Bills (including: rent, CT, internet, water, netflix, spotify) = £350 (paid to OH who pays them off)
    Food shopping (month bill) = £50 (my half - my OH contributes £50 too - new trial scheme this month, so may not be 100% accurate by the end of the month)
    Electricity = £40 (this varies but I set aside £40 as it's never more than £80 between us)
    Football Season ticket = £33.18
    Mobile phone contract = £52.27 (additional charges this month as used O2 travel - usually £38)
    Gym membership = £29.99


    Debt repayments
    A'Card = £200
    CC = £274.88


    Money into pots:
    Savings= £50/£100 - transferred £50 into gift pots and £50 into my current account to sit.
    Treats (clothing/beauty) = £30.00
    Gifts(birthday/xmas) = £30.00
    Date night jar = £15/£20 - only £5 left as going out next weekend. OH paid on debit card and took the money needed (£30) from the jar.
    Travel = £50.00 - going on a mini break next month so cannot use.
    Socials (drinks out/work socials) = £40.00
    • jemreading
    • By jemreading 9th Jul 17, 9:42 AM
    • 81 Posts
    • 83 Thanks
    jemreading
    I need to keep a better account of my finances because the above it not accurate. I'm going to try and work out where the money has gone!

    Money actually remaining:
    - £20 social
    - £10 date night jar
    - £50 travel money
    - £45.70 shopping money
    - £61 (in new £1 coins but ideally not spending
    - £54.29 in everyday bank account
    • jemreading
    • By jemreading 9th Jul 17, 9:56 AM
    • 81 Posts
    • 83 Thanks
    jemreading
    When I got paid (29th June)
    29th - £56
    30th - £22.20

    = £78.20

    From when I've started my diary these on my spends:
    2nd July - £5.19 & £500 deposit
    3rd July - £2.50
    4th July - £36.07 (didn't take the £10 from date jar for a nice meal)
    5th July - £5.50
    6th July - £6.98
    7th July - £53.79 (shopping came to £49.79 but I spent £4 on a bottle so I can take my smoothie into work and then use the bottle for gym)
    8th July - £249.50 (on CC for wedding dress)
    8th July - £2.79 on snack

    = £63.03 for the week. I also spent £500 on a deposit and £249.50 on a wedding dress (both on CC)
    • jemreading
    • By jemreading 9th Jul 17, 5:17 PM
    • 81 Posts
    • 83 Thanks
    jemreading
    Spends:

    £1.79 to break my £20 note
    £4.20 on bus ticket
    £4 new £1 coins for pot

    £9.99 down. £10 put back into my social fund.
    • jemreading
    • By jemreading 10th Jul 17, 6:04 PM
    • 81 Posts
    • 83 Thanks
    jemreading
    So far so good. A NSD (how rare)

    I did borrow my OH £3 to get a belt as he forgot to put it in his gym bag and he leaves his wallet at home.

    £3 will be given back in new £1 coins which I can then put to the pot!
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