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  • FIRST POST
    • dfw87
    • By dfw87 9th Jul 17, 5:36 PM
    • 74Posts
    • 102Thanks
    dfw87
    Debt Free Wannabe Teacher
    • #1
    • 9th Jul 17, 5:36 PM
    Debt Free Wannabe Teacher 9th Jul 17 at 5:36 PM
    Hello,
    I am hoping to use this as a spending diary to keep me on track in my mission to become debt free!
    I've used MSE's website and forum for years and years (despite getting further and further into debt!) and am finally starting my very own thread!
    I have been in debt for quite a while now but it is only now that I have had my 'lightbulb' moment and I am determined to shift this debt.
    I am 30 this month and have always dreamed of owning a house - sadly I am around £18k in debt and so this is just not a possibility for me... yet.
    My debt has been accrued over the past 7 years whilst I was at university and is completely my fault. I went to university as a mature student having worked for years on a good salary. I never settled into a student spending mindset and continued spending as if I was earning, using my credit card to help me out.
    Since university, my debt has spiralled and I have ended up with 2 over drafts (-£350 and -£1800) and 3 credit cards (all around £5k each). These credit cards have long since past their 0% interest days and I am struggling so much to pay off.
    Rather stupidly, I have never made any real attempt to cut down on my spending properly. I am very generous (sorry to toot my own horn!) and this has massively contributed to my debt. I like to buy family and friends presents, trips away, meals etc and I spend as if I have much more money than I do.
    I have travelled (America and Eastern Europe) and this has added to my debt and I holiday once a year and usually have a city break. I also spend ridiculously on little things - popping to the shop to get salad and coming back with a trolley full!

    I already shop at Lidl and shop around for the best deals... but I still get into debt!

    So... I have had a horrible week confronting this debt and trying to find the best way out of it. I settled on a loan and was horrified to find that no one would lend to me. However, I finally told my Mum about my debts (this took a huge amount of bravery!) and she was so supportive. She is going to get a loan in her name (we have discussed the pros and cons in detail) and I am going to set up a DD for the amount each month.

    I am a teacher and sadly I am completely unable to get paid any overtime for the many hours that I do over what is expected so I have taken on a bar job which is just shifts as and when needed. I have also taken a break from my pension just for now - this will give me an extra £100ish a month and I have also discussed this in detail and thought about the pros and cons.
    I have made sure that my pet and car insurance is the lowest it can be (for good service) and everything else is already at its lowest. I will cancel my gym membership as soon as I can (a few more months) and I will cancel my phone contract when it is up for renewal.

    The main thing I can do to stop this ridiculous debt from spiralling is to stop shopping for clothes and food. I will use this page as a diary for my spending for the week!

    Please do let me know if you have any advice - I am more than willing to hear it!

    Thank you!
    Last edited by dfw87; 09-07-2017 at 9:14 PM.
Page 6
    • dfw87
    • By dfw87 13th Sep 17, 6:32 PM
    • 74 Posts
    • 102 Thanks
    dfw87
    Not a NSD today because I had a school trip. I got the train home which cost £4.80 - that's shot up since I last got the train! I also bought a drink and some socks and fairy lights (a present) in Primark which cost £5.

    I bought my cousin the fairy lights as she is starting at uni - I would have usually spent about £20 at least on her and these only cost £2.50 - I'm making good changes!

    Got home from work relatively early which was really nice! It meant I was able to do a couple of Prolific studies - I imagine I would have been at work otherwise. One for £1 and one for £3.10 - every little helps!

    Tomorrow will be a NSD and Friday should be too. Friday I am out of school for the afternoon at a meeting and then that finishes at 3:30 - lovely early finish! So, I have said that I will do a 4 hour bar shift - I love my extra Friday payday!
    Since 'lightbulb moment' on 9th July 2017:
    £668.10 paid of a £20,043.00 loan
    £1,437.41 saved
    • dfw87
    • By dfw87 14th Sep 17, 7:25 PM
    • 74 Posts
    • 102 Thanks
    dfw87
    Today:

    Not a NSD - saw some toastie pockets that I wanted for my lunch in the reduced section so made sense to get them now rather than the weekend.

    Got £4.47 from Crowdology so popped that in to my savings. I logged in to my Halifax account and was so impressed to see a feature that suggests how much money you will have left over when pay day comes - it analyses my direct debits, standing orders etc and told me - it's exactly what I thought it would be! Love that feature!

    Got another £3 Amazon voucher yesterday from Swagbucks - I find SB really irritating but actually the points add up pretty quickly!

    School was a nightmare today - children all over the place and I have tonnes of work to do.
    Since 'lightbulb moment' on 9th July 2017:
    £668.10 paid of a £20,043.00 loan
    £1,437.41 saved
    • dfw87
    • By dfw87 15th Sep 17, 10:29 PM
    • 74 Posts
    • 102 Thanks
    dfw87
    Today:

    Not a NSD but I did do 5 hours at the bar straight after work so that will mean a little extra pay next Friday. Love being paid weekly for my bar shifts.

    My BF cashed out of Prolific so I got about £4.50 for referring him.

    This weekend I am going to Cornwall to stay in my caravan - hopefully won't spend too much and will have a relaxing time away.

    I've had very bad back problems in the past and have to go to the chiropractor regularly to stay on top of it - well, I've been slacking and I can tell - agony! So, I've got an appointment on Monday - £35 and then my friend who is an incredible masseuse is seeing me for free on Tuesday.
    Since 'lightbulb moment' on 9th July 2017:
    £668.10 paid of a £20,043.00 loan
    £1,437.41 saved
    • zippygeorgeandben
    • By zippygeorgeandben 15th Sep 17, 10:40 PM
    • 661 Posts
    • 756 Thanks
    zippygeorgeandben
    Please tell me you've opted back into the TPS?!
    End Sep 2016 End August 2017
    £8236.57 £4876.49
    (Tesco 4.8%) £222.61pcm
    £6185.75 £851.34 (Zopa 4.0%) £48.99pcm

    £5344.50
    £2890.04 (Sainsburys 0% until 06/19) £140pcm
    £2000.00 £1333.35 (Sister 0%) £133.33pcm

    Total debt
    £19.766.82 £11499.70 Original DFD May 2019.
    • dfw87
    • By dfw87 16th Sep 17, 10:07 AM
    • 74 Posts
    • 102 Thanks
    dfw87
    Please tell me you've opted back into the TPS?!
    Originally posted by zippygeorgeandben
    I haven't yet - although I haven't actually had a pay packet without it... why?
    Since 'lightbulb moment' on 9th July 2017:
    £668.10 paid of a £20,043.00 loan
    £1,437.41 saved
    • zippygeorgeandben
    • By zippygeorgeandben 16th Sep 17, 5:41 PM
    • 661 Posts
    • 756 Thanks
    zippygeorgeandben
    Just one of the best pensions out there that's all, even consiering circumstances.
    End Sep 2016 End August 2017
    £8236.57 £4876.49
    (Tesco 4.8%) £222.61pcm
    £6185.75 £851.34 (Zopa 4.0%) £48.99pcm

    £5344.50
    £2890.04 (Sainsburys 0% until 06/19) £140pcm
    £2000.00 £1333.35 (Sister 0%) £133.33pcm

    Total debt
    £19.766.82 £11499.70 Original DFD May 2019.
    • dfw87
    • By dfw87 18th Sep 17, 7:11 PM
    • 74 Posts
    • 102 Thanks
    dfw87
    Just one of the best pensions out there that's all, even consiering circumstances.
    Originally posted by zippygeorgeandben
    I know... I thought long and hard about it but I decided I needed to think of my short term goals for now and then look to the longer term. Thanks though!
    Since 'lightbulb moment' on 9th July 2017:
    £668.10 paid of a £20,043.00 loan
    £1,437.41 saved
    • dfw87
    • By dfw87 18th Sep 17, 7:14 PM
    • 74 Posts
    • 102 Thanks
    dfw87
    Had a lovely weekend away - a few spends though. I worked on Friday night, then on Saturday I went to Cornwall to watch my BF play rugby and then my mum, brother and I stayed at our caravan for the night. We went for a lovely meal which myself and my brother paid for - that was £25 each. On the Sunday I got us all some ice creams. We had a great time walking and body boarding - was really lovely.

    Today was very costly! I had to go to the chiropractor so that was £32 - well worth it though and much needed. I had to park the car so I parked at M & S and then popped in after to see if they had any reductions. I ended up spending about £7 in the end on some reduced food but I will freeze this and it will mean I don't need to buy any meat next week. I got 8 x skinny chicken burgers, 8 x skinny beef burgers, cod in a garlic sauce (serves 2) and 2 lots of salmon flakes. Yum!
    Since 'lightbulb moment' on 9th July 2017:
    £668.10 paid of a £20,043.00 loan
    £1,437.41 saved
    • Kittychick
    • By Kittychick 19th Sep 17, 9:30 AM
    • 148 Posts
    • 364 Thanks
    Kittychick
    That soundsikea good M+S haul!! We often stock up in this way, and like you I often feel like we have overspent, but the following week I'm glad of it!
    • dfw87
    • By dfw87 20th Sep 17, 8:15 PM
    • 74 Posts
    • 102 Thanks
    dfw87
    Yesterday was absolutely manic... work from 7:30-6pm, then to see my masseuse (she sees me for free - I love her!) and then to my cousin's house to have dinner as she was off to uni for the first time!

    Today, another manic work day but I am doing nothing this evening.

    I got a PA cashout - about £15, sold something on eBay for 2.99 - every little helps.

    However... I had to get my brake pads fixed today which cost £120 - ahhh! It does mean that this week I have saved petrol on two days by lift sharing and driving my BF's car... so I shouldn't have to top up my petrol this week hopefully. Also shouldn't have to do a full food shop I hope.

    What I have really loved today though is being able to pay out £120 for my car, £32 on Monday for chiropractor, £70 for my tyres the other day... and being ABLE to pay it. Out of my current account. No credit accounts, no savings... all my own money that I have made sure is available.

    OK, so it is £240 that could have gone in to my savings but this is real life!
    Since 'lightbulb moment' on 9th July 2017:
    £668.10 paid of a £20,043.00 loan
    £1,437.41 saved
    • dfw87
    • By dfw87 21st Sep 17, 8:48 PM
    • 74 Posts
    • 102 Thanks
    dfw87
    Just popping in to say all good still... can't wait til payday on Monday!
    Since 'lightbulb moment' on 9th July 2017:
    £668.10 paid of a £20,043.00 loan
    £1,437.41 saved
    • dfw87
    • By dfw87 22nd Sep 17, 8:27 PM
    • 74 Posts
    • 102 Thanks
    dfw87
    Got paid from my bar job today so popped that straight in to my savings.

    I decided to join Slimming World (just online) - I have been successful at it before so wanted to give it a go again. I know the basics enough to do it without the plan but I want to make sure it is successful - that was £60 for 3 months.

    I need to try to keep costs down with it and I am definitely not going to do what I have done before and just buy lots of expensive food that fits the plan - I am hoping I can get some tips on here about keeping SW cheap!
    Since 'lightbulb moment' on 9th July 2017:
    £668.10 paid of a £20,043.00 loan
    £1,437.41 saved
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