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    • jemreading
    • By jemreading 1st Jul 17, 7:32 PM
    • 109Posts
    • 148Thanks
    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 6
    • jemreading
    • By jemreading 25th Sep 17, 8:13 PM
    • 109 Posts
    • 148 Thanks
    jemreading
    I'm calling September a write off. I know it's not the attitude but I can't keep dwelling on it. I've been so bad at keeping track of money this month and what I've spent on my credit card. I've increased my debt since having a debt free diary I took my eye off the ball and landed in a mess, so figures have been re-calculated! 3 days until payday.

    My money plans for next month are going to be:

    1. Get all money out and allocated to spending pots
    2. Once all money is out take my debit card out of my purse and leave it at home when I'm out the house
    3. Give credit card to OH.
    4. Re-evaluate budget and allocate a realistic amount to credit card debt (done this - I only make 1 lump sum payment once I've paid - not sure if this is the right way to go!)
    5. Save up my £1 coins
    6. Have 10-15 NSD
    7. Start Christmas shopping (smaller things like wrapping paper/cards using the gift fund pot)

    My life plans for next month are:
    1. Finish sorting OH birthday presents
    2. Throw OH his party (having a flat party to cut costs!! Bring your own alcohol and stuff!)
    3. Prepare for friends wedding
    4. Prepare for my birthday
    5. Continue with gym class and weights
    CC1 debt: £125/£980.65
    • jemreading
    • By jemreading 30th Sep 17, 6:16 PM
    • 109 Posts
    • 148 Thanks
    jemreading
    Payday was yesterday

    I've got all my money out and allocated into my envelopes (apart from my treat money which I'm not sure how much to take out) and I've paid off £316.83 off my CC (£16.33 to round down..)

    I've checked my £1 jar and I currently have £38 in it which is not too bad, I think I'll use that to start the ball rolling for my Christmas wrapping or my friends gifts.

    I've got all my presents for my OH birthday, just need to get a nice dinner. He did suggest going out for a meal but that'll be £40+ so I've talked him into a £10 dine in dinner from M&S.

    I don't think I have anything to really buy for this month but I know I have: drinks night out for my OH birthday (£30), lunch with work friends (£10), deposit for Christmas dinner with work friends (£10), football to pay for (£10 ticket), my birthday (£20 for drinks) and a wedding to attend (£70 - for the weekend - we've already paid for their gift and the hotel + breakfast. We just need petrol money, probably £20 each and then £50 for a meal the night before the wedding and drinks at the wedding. I'm not a big drinker so will probably have like 2 drinks!)

    I'm just waiting for all direct debits to go on Monday/Tuesday and I'll be clearer on what I have left in my account and I can figure out where to allocate it.
    CC1 debt: £125/£980.65
    • jemreading
    • By jemreading 8th Oct 17, 7:50 PM
    • 109 Posts
    • 148 Thanks
    jemreading
    Going back through and checking my list of things to do.. Marked in green = done!

    1. Get all money out and allocated to spending pots - DONE!
    2. Once all money is out take my debit card out of my purse and leave it at home when I'm out the house..
    3. Give credit card to OH.
    4. Re-evaluate budget and allocate a realistic amount to credit card debt (done this - I only make 1 lump sum payment once I've paid - not sure if this is the right way to go!) DONE for the month
    5. Save up my £1 coins
    6. Have 10-15 NSD
    7. Start Christmas shopping (smaller things like wrapping paper/cards using the gift fund pot) - DONE. I have wrapping paper, Christmas cards and a few smaller stocking filler presents (3 for 2 stuff from Boots)

    My life plans for next month (October) are:
    1. Finish sorting OH birthday presents
    2. Throw OH his party (having a flat party to cut costs!! Bring your own alcohol and stuff!)

    3. Prepare for friends wedding
    4. Prepare for my birthday
    5. Continue with gym class and weights

    1. Drinks night out for my OH birthday (£30) - as above £23 overspend on shopping to cover drinks/food + £10 entrance for me and sister to club so overall spending of £33 (£3 over!)
    2. Lunch with work friends (£10)
    3. Deposit for Christmas dinner with work friends (£10) - Paid full amount of £20 so don't have to find another £10 next month
    4. Football to pay for (£10 ticket) - Paid for me and my dad plus £1 card charge. Dad should pay me back.
    5. Birthday drinks (£20)
    6. Wedding attendance (£70 - to include: drinks and food)
    7. Petrol money to get to wedding (£20)
    CC1 debt: £125/£980.65
    • jemreading
    • By jemreading 9th Oct 17, 8:31 PM
    • 109 Posts
    • 148 Thanks
    jemreading
    My OH paid me £100 he owed me so I paid it straight off the credit card rather than thinking it's MY money, so it's a win

    Always nice to see the credit card go down when I don't plan to pay any off.

    I've also moved the odd end of my debit card balance into savings. It's only £6.77 but savings need to start somewhere.
    CC1 debt: £125/£980.65
    • db2016
    • By db2016 12th Oct 17, 3:18 PM
    • 57 Posts
    • 141 Thanks
    db2016
    good news on the sorting of some stuff, with the "more" data contract, have you looked into cutting costs with music with spotify etc as i mentioned previously?

    also regarding the pound coins, i built up a stash of the new ones, and have a pot for them and £2 and 50ps (mainly for emergency change etc), but it struck me that i was "keeping" the new £5 notes and way more new pounds than i needed to, probably because of the novelty factor and forgetting almost that they were REAL money! i think £80 in 5ers and £50 in pounds! ive kept some pounds in pots but spent the rest.
    so i guess im saying, the ones you have could be used if it helps cashflow rather than saving them up!

    also dont forget if they are Round Pounds, they go out of legal tender 12am monday coming, so spend if you have any or bank them!
    • jemreading
    • By jemreading 14th Oct 17, 12:32 PM
    • 109 Posts
    • 148 Thanks
    jemreading
    I wrote a stupidly long post which then disappeared

    Hi db, thanks for your comments. Yes, I have sorted out my spotify now (thanks for reminding me) I have a 30 day free trial which expires on the 13th November then it will be £9.99 per month.

    As for the £1 I have all of them are the new ones, I never collected any of the old round pounds so no swaps are needed. I did have to ask one shop to not give me the round pound as change. I think I'm up to £50 in my pot and I've decided I'm going to use it as some spending money for my Prague trip next month.

    As the year is coming to an end (SCARY!) I need to decide on: what saving pots I'm going to have, what spending envelopes I need, re-budget and re-look at shopping list.

    I have to admit this year for Christmas I am very very unprepared on the money front. I've started getting my presents I just need to figure out where the money is coming from. My family tend to do expensive Christmas (we don't really celebrate birthdays) so I need to budget and work this out.
    CC1 debt: £125/£980.65
    • jemreading
    • By jemreading 15th Oct 17, 1:15 PM
    • 109 Posts
    • 148 Thanks
    jemreading
    Confession... I brought myself the fit bit charge 2 (£119.99) and my nephew's Christmas present (19.99) last night I have an Argos Card so I used the 12 months no interest on that to purchase the two. I can either pay off £11.67 a month for 12 months or do it in a bulk of 3 payments after the new year.

    At the moment my fitness is a big thing for me as it's helping with my mental health. I struggle with anxiety so the Fit Bit 2 can help keep track of my sleep, my daily step count, my heart rate and exercise levels. I always feel better if I have a plan and a routine to stick to. My parents were going to buy me one for Christmas but I couldn't wait so I'm being practical and asking for some new running trainers from them instead..

    It means so far I have 3 big gifts down for Christmas (my two sisters and my nephew) and only 4 big ones to go (my mum, my dad, my niece and my OH). I also have got a small gift for my future MIL/FIL and my future BIL and SIL.

    The only other people I need to buy for are: my grandparents, my work colleague who is like my second mother and some chocolates for two friends. I may also end up in the work secret santa for £5.
    CC1 debt: £125/£980.65
    • Hiddenidenity
    • By Hiddenidenity 15th Oct 17, 1:39 PM
    • 5,064 Posts
    • 23,174 Thanks
    Hiddenidenity
    I think you need to create a more realistic budget, it's quite clear the one you have currently isn't working and you're still adding to the credit card.

    Remove the credit card from your purse. Cut it up. Remove it from all your online accounts, and the one's on your phone

    Please don't be offended or take it the wrong way. It's hard to get across in a post if that makes sense and it's not intended to be harsh etc x
    Last edited by Hiddenidenity; 15-10-2017 at 1:42 PM.
    DFW £1388.71/£7348.71 Rent Arrears £511.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
    • jemreading
    • By jemreading 15th Oct 17, 2:09 PM
    • 109 Posts
    • 148 Thanks
    jemreading
    Hi Hidden! No offence taken at all, I know the budget needs work. I'm very aware that my income does not meet my budget. I'm also struggling to maintain a lifestyle of having nice things and there is also a high gap between my income and my OH (about £500). We've discussed this between us before.

    Something extra always comes up and I've found lately that I'm having a hard time at saying no to things, especially social things, as I don't like to be missing out. I'm also guilty of wanting to have nice things, even though I know that I should say no and not buy them!

    I don't have my credit card linked up to my phone or to any accounts online. It's currently sitting in my purse and I need to remove it!!
    CC1 debt: £125/£980.65
    • Scott_Weiland
    • By Scott_Weiland 15th Oct 17, 2:19 PM
    • 597 Posts
    • 1,411 Thanks
    Scott_Weiland
    I have just had a read of your diary i have to agree with hidden.
    Debts 16125.64
    Cashback Earnings YTD £164.10 Survey Earnings YTD £503.96
    • DebtFreeDuo
    • By DebtFreeDuo 15th Oct 17, 2:21 PM
    • 216 Posts
    • 987 Thanks
    DebtFreeDuo
    I agree with Hidden, it is very hard seeing all the nice things around and not being able to buy them but we have to remind ourselves that its a want and not a need and you can most likely find cheaper alternatives, for example, you could have waited for Christmas or had a look on ebay.

    Do you give yourself a budget for social things? Then you can at least say yes to some things but not all things? Or come up with a cheaper alternative idea with whoever it is that arranged it?
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £110.51/£150..NSD October 12/15
    • jemreading
    • By jemreading 15th Oct 17, 2:22 PM
    • 109 Posts
    • 148 Thanks
    jemreading
    Hi Scott, thanks for popping by. The spreadsheet is open, the budget is being looked at as we speak and the credit card and debit card have been removed from my purse.
    CC1 debt: £125/£980.65
    • Hiddenidenity
    • By Hiddenidenity 15th Oct 17, 2:24 PM
    • 5,064 Posts
    • 23,174 Thanks
    Hiddenidenity
    I think if you do remove it you'll be more conscious of what you're spending, because you won't just be able to put it on there and think I'll pay it back at X point then something crops up etc. If OH earns more is there still a fair split in the bills etc? not just 50/50 of the bill?

    I think finding the balance of nice things and debt busting is the hardest thing to find.

    Going in all guns blazing and having no nice things isn't a long term solution but neither is adding to the debt either. Once you find the balance it will seem easier to keep at it x

    Even if that means switching to just over the minimum payments on the debt. At least it won't be increasing x
    DFW £1388.71/£7348.71 Rent Arrears £511.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
    • jemreading
    • By jemreading 15th Oct 17, 2:30 PM
    • 109 Posts
    • 148 Thanks
    jemreading
    Hi debtfreeduo - I think our posts crossed over on here.

    Yes, I give myself a social budget. October to December gets very social for us round here and seeing as this is my first diary I'm beginning to realise that now! I'm used to be quite good at going out and not buying things but it seems at the moment I've lost that.

    The budget is being looked at right now for the remaining of the year to factor everything in that I have going on.
    CC1 debt: £125/£980.65
    • jemreading
    • By jemreading 15th Oct 17, 2:34 PM
    • 109 Posts
    • 148 Thanks
    jemreading
    Hidden, you'll be pleased to know that the card has been removed from the purse. Me and my OH split the bills 50/50, I don't feel comfortable having him pay more. He pays more towards the food bill over the month as he buys a lot of extras that I don't have like: tea, coffee, fish, lactofree milk, smoothie ingredients, soup ingredients.

    I am just looking through my credit card repayments and I pay average £300 a month to the card but am probably putting half of that back on! x
    CC1 debt: £125/£980.65
    • DebtFreeDuo
    • By DebtFreeDuo 15th Oct 17, 2:39 PM
    • 216 Posts
    • 987 Thanks
    DebtFreeDuo
    Its all about learning how to balance everything and I think we all have blips along the way, I think whats important is us realising our weaknesses and getting on top of them which it sounds like that is something you are now doing. Keep at it, adjust the budget to make it more realistic so you are prepared for everything.
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £110.51/£150..NSD October 12/15
    • Scott_Weiland
    • By Scott_Weiland 15th Oct 17, 2:49 PM
    • 597 Posts
    • 1,411 Thanks
    Scott_Weiland
    Maybe look at ways of boosting your income Jem it can help. A lot of guys on the forum do market research surveys to bring extra cash in.
    Debts 16125.64
    Cashback Earnings YTD £164.10 Survey Earnings YTD £503.96
    • jemreading
    • By jemreading 15th Oct 17, 2:51 PM
    • 109 Posts
    • 148 Thanks
    jemreading
    I think I'm going to break it down and set some goals for myself. I am a very goal driven person so I hope this helps - I will think of some and report back.

    Whilst I have debt do you think I should be trying to put some money into a savings pot? I don't currently have one!!! Even if it's only £20 a month? Or should my focus be on clearing the debt?
    CC1 debt: £125/£980.65
    • Hiddenidenity
    • By Hiddenidenity 15th Oct 17, 2:54 PM
    • 5,064 Posts
    • 23,174 Thanks
    Hiddenidenity
    I think if you can set some aside for an emergency fund and leave it there for actual emergencies it's the best idea to start an emergency fund. Even if only with a small amount to start off with x
    DFW £1388.71/£7348.71 Rent Arrears £511.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
    • DebtFreeDuo
    • By DebtFreeDuo 15th Oct 17, 2:55 PM
    • 216 Posts
    • 987 Thanks
    DebtFreeDuo
    Its always good to have an emergency fund, if you don't have one at all then it would be a good idea to put something aside as it should help stop further spending on credit but ultimately I think as long as the budget is realistic and you stick with it then you will be fine. I've not read your whole diary but have you done an SOA? It may be worth doing another one if you haven't done one recently and it will help you see what money you need to budget monthly? I always find doing an SOA reminds me of things that I forgot to budget for.
    Debt 14/10/17/20/9/17 5395.16/5690.50 = Loan: 2065.32/2207.38 Car Loan: 2292.94/2419.64 0% CC: 1036.90/1063.48 DFD April 19 (Target Dec 18).
    Make up to £10 a day challenge: £110.51/£150..NSD October 12/15
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