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  • FIRST POST
    • DrSpendLittle
    • By DrSpendLittle 22nd Aug 17, 4:30 PM
    • 207Posts
    • 750Thanks
    DrSpendLittle
    Reducing Debt - being accountable and taking responsibility
    • #1
    • 22nd Aug 17, 4:30 PM
    Reducing Debt - being accountable and taking responsibility 22nd Aug 17 at 4:30 PM
    Hi everyone!

    DFW newbie here! Been a lurker for a while but have been so inspired by reading others' DFW diaries - it's literally all I've done this weekend! - that I decided to take the plunge and join in the fun. Now's the time. Had my LBM a few weeks ago and can't wait to get started

    So, a little about me before I state my financial situation and my goals:
    - a happy, healthy and engaged homeowner
    - settled in my career with a fairly well paid job & annual increment
    - looking at starting a family soon as time is ticking!
    - enjoys sports and the outdoors and a healthy approach to life
    - has just started using YNAB
    - has a 'secret' unsecured debt of just over £10k (2 x cc's)

    About DF
    DF is debt free but doesn't actively save. He seems to spend what he earns which isn't great since we have a tiny mortgage and lowish bills. He had family money passed on to him a few years ago on the advice of his mother's accountants - she would NEVER give it away otherwise. This dosh acts as a financial cushion for him .....and, admittedly, me gosh, it really has meant I've been a wee bit lacking in the old saving malarkey Time to banish this false sense of security!

    About DF and I's financials
    DF and I don't have a joint account. All bills / mortgage come out of his current account except car insurance and broadband/phone which I'm responsible for paying. I give him £465 every month towards bills (includes a deduction for car insurance) and he gives me half of whatever the broadband phone bill is. This arrangement is, on reflection, part of my problem as I have too much 'distance' from the reality of bill payments and direct debits etc etc etc I'm sure you all know the score....

    DF knows I have some debts but isn't really aware of the current status of my 'net worth' He's one of life's worriers so I am taking this DFW journey alone for now. I'm completely settled and happy with this idea and I have been managing it all on my own thus far, so no need to change. I got myself into this situation so I'll be getting myself out of it.

    Why the DFW diary?
    Well, we're thinking of moving home since we could take a few leaps up the ladder. Its time for our dream home. This has caused my LBM. I want my dream home and the only thing stopping me is my poor money management skills! Its also time to move. We've been here a while and have never fully settled.

    My interim goal?
    To clear £4K of debt by January so when we put the house on the market, my debt levels are lower. I obviously also want to make sure we can maximise our borrowing, so I want to demonstrate good money management skills and a good pattern of spending and saving.

    My overall aim
    But, more than this interim goal, I just want to be in control of my money and no longer feel guilty for spending it. I want to save up for things and have that lovely 'I deserve this because I saved for it' feeling when I buy something. I want to be responsible. And, I am here to become accountable.

    My plan of action!
    So....this diary is my way of sharing my story, being accountable for my actions, taking responsibility and doing all this whilst my other half is oblivious!

    I hope you join me on my journey and I look forward to joining you on yours.

    My current financials
    I'll post my current financial situation later today - got some work things to get done before close of play. Its been one of those 'working at home' days which have largely comprised of obsessing over YNAB and lurking on DFW diaries, oh deary me A hint of my procrastinating / self sabotaging ways......

    DSL
    Last edited by DrSpendLittle; 30-09-2017 at 9:20 AM. Reason: I'm a formatting perfectionist :)
Page 3
    • DrSpendLittle
    • By DrSpendLittle 27th Aug 17, 11:38 AM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Sunday Funday
    Morning everyone!

    Just dropping by to confess...

    DF and I went to the shops yesterday to look at a piece of kitchen equipment that he has been thinking of buying. Well, one thing led to another and before we knew it, we were at customer collections saying surnames and waiting for cardboard boxes. But....it was a bargain as we decided to save money by getting last year's 'model'. We also got double points which equates to £7 cash back.

    DF is paying for the majority of it as planned but I have offered to pay for some since I will be using it too and eating all the yummy food that he makes with it. I did lots of work with YNAB when I got home and I've managed to retrospectively budget for this for now without reducing any planned debt payments.

    But, I'm not going to make this easy for myself. I want to break the pattern of 'seeing and having'. I with therefore be rummaging for more things to sell on eB4y and also be using cash back sites to switch our remaining insurances. I've got £29 pending from switching gas and elec so that will go to paying it.

    I told DF that this was the last time I'd be doing this 'seeing and buying' in future. I reminded him that I need to budget for purchases like this as my cash flow is not the same has his. He was very happy with this and appreciates my new mature money mind. I also felt a bit hypocritical since I was the one who convinced him to buy it there and then!.

    I still feel a bit guilty about all this hence the Sunday confession. I technically haven't properly budgeted for it - I've found the money from other places. But, that said, my MSE thoughts were with me through the day and I did go about it in a controlled manner. I will still be paying £994.29 to debt repayments next month.

    Saturday Round Up

    We went to sainsbos and got a few bits in to see us through to payday. We still have meat in the freezer and I need to make a soup for lunches. DF baked some bread last night. I froze one portion of last night's curry that I'd made using some chicken thighs from the freezer. Usually I would be greedy and finish it off about 2 hours after dinner but I decided to be good and freeze the leftovers. It will do one of us for an easy mid week dinner.

    I also spent £5 from my misc. budget (£20 per month) on a sistema porridge pot - I eat my breakfast at work and haven't been able to have fresh porridge for yonks! I also admit to having a bit of thing for Tupperware, so I really did neeeeeeed this. I also got some popcorn kernels (£2) so DF and I could have a cinema night in last night and tonight. I also much prefer to make my own popcorn than buy it. Tastes so good. I have £6.48 left in my misc. budget till payday. Rock and roll.

    Today is....not so sure. Need to get some yellow split peas but other than that, I don't see the need to spend any money so will be a low spend day.

    DSL
    Last edited by DrSpendLittle; 11-09-2017 at 5:23 PM.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 27th Aug 17, 6:18 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Sunday Funday Part 2
    Poor DF. We've just been through our joint monthly expenses with a fine tooth comb and looked at every direct debit. It turns out I've been overpaying him for my share of mortgage and bills He's now feeling a bit sorry for himself and I think has had a wee LBM since he actually spends all his salary every month. Naughty DF.

    However, I still need to sort out mortgage protection insurance and life insurance. DF has his own and hasn't switched for a while so he is going to look into that.

    Question: do people have life insurance AND critical illness / income protection / mortgage protection insurance? Do I need both?

    I also need to sort out breakdown cover for my little car (will try to add onto DFs policy for his car) and then we will pool this and split the payment since we take his car on holiday and use it for general driving. Mine little car is just my commuting car.

    But, we also still need to switch buildings, contents and car insurance. So, all in all, I'm expecting a monthly gain! Makes me feel slightly less guilty about yesterday's unplanned purchase!

    Today has been a top up shop but it was DFs turn to buy so I've actually had a NSD.

    Tonight is toad in the hole and a second movie night with homemade popcorn.

    DSL
    Last edited by DrSpendLittle; 11-09-2017 at 5:24 PM.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 29th Aug 17, 1:21 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Checking In...plodding on
    Travelled into the office today for the first time in ages. Yawn. Was hoping to park for free on the road but I can't guarantee I'll be finished with my meetings before the yellow line comes into force, so used one of my parking cards. Brought lunch, snacks and water. DF said I looked like I was going on a picnic. I consider that an MSE win!

    Yesterday was a VLSD (very low spend day ). For lunch we had homemade soup and homemade bread and for dinner we made a couple of curries with stuff from the fridge.I spent £3.49 from my discretionary budget to rent a movie online. We were too full for homemade popcorn!

    Today I put £10 fuel in my little car to cover my journeys into the office this week. I don't foresee an other spends, but I may pop by to collect my prescription from the chemist on the way home so I can try for a NSD tomorrow.

    I CANT WAIT for payday on Thursdsay - I've already done my September budget using YNAB and given every £ a job and now I just want to see that red turn to green. I also want the £99 that is currently yellow in my partnership card account to turn green - it tells me I was naughty and made an unbudgeted purchase (said kitchen equipment on Saturday). Need to wait for payday. Not so MSE.

    Over the past few days I've been thinking of ways I can balance my desire to be debt free ASAP with the need to be sensible about budgeting for the yearly expenses and building an EF. I've watched a few Dave Ramsey videos on zoutube and taken some inspiration from that. I've been thinking about a house that I've see for sale and what the potential mortgage payments would mean for my budget. I've also been thinking over how we could potentially extend it in the future and thinking through ways of saving for this. Its all hypothetical at the moment, but its really keeping me on track and determined to clear my debts ASAP.

    I have decided to commit to two goals that will help me to realise my 'debt free ASAP' ambitions. These are:
    1) Pay £4000 off my CC debts by January 1st 2018
    2) Be CC debt free by 1st July 2018

    I've worked out my YNAB budgets and set objectives for repayment totals and dates to help me achieve the above. I think I can achieve this as long as I stick to budget. Of course, there is xmas, DFs birthday and a big car service coming up between now and mid January. I've got £500 coming in from a work fee which will cover DF birthday and most of Xmas and I'm saving £50 per month for the January car service (I was told it'll be around £250).

    There are a few things in my 'normal' YNAB budget that I won't be adding funds to before January. These are: new laptop, music, hairdressers, holiday and clothing. These are all non urgent things and I don't see me needing them for the next 9 months so I will wait until January 1st to start paying in to these. Things that still get my money are: dentist, car maintenance, presents, emergency fund, YNAB, swimming, prescription, toiletries, misc expenses and cash kitty.

    I've enjoyed catching up on some DF diaries this bank holiday weekend. I'm going to post separately about the ones I've been reading and taking inspiration from, hopefully later this week. There are so many to get through and I want to read from start to finish so I'm taking it slowly and digesting them before I start commenting / chatting / thanking etc!!

    Hope everyone else is as excited for payday and a new month of sticking to budget as I am

    DSL
    Last edited by DrSpendLittle; 11-09-2017 at 5:26 PM.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 29th Aug 17, 5:21 PM
    • 641 Posts
    • 2,526 Thanks
    wishingthemortgaheaway
    You sound like you've really got this sorted, some good targets then.
    You could always do some surveys or mystery shopping things to earn some pennies for those non essential ynab categories. I use vouchers I get from surveys for gifts and cash for my wool fund.
    I'm also eagerly awaiting Thursday night to do my mortgage overpay. To reset my Ynab pots had to find out on Friday morning what my mortgage interest for this month has been.

    Isn't it a shame we wish for months away like this but at least it keeps us of the financial straits and narrow.
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
    • BadBookkeeper
    • By BadBookkeeper 29th Aug 17, 9:52 PM
    • 105 Posts
    • 639 Thanks
    BadBookkeeper
    Some great plans there. Yes I'm so looking forward to 1st Sept too! Good luck
    • DrSpendLittle
    • By DrSpendLittle 31st Aug 17, 12:08 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    You sound like you've really got this sorted, some good targets then.
    You could always do some surveys or mystery shopping things to earn some pennies for those non essential ynab categories. I use vouchers I get from surveys for gifts and cash for my wool fund.
    I'm also eagerly awaiting Thursday night to do my mortgage overpay. To reset my Ynab pots had to find out on Friday morning what my mortgage interest for this month has been.

    Isn't it a shame we wish for months away like this but at least it keeps us of the financial straits and narrow.
    Originally posted by wishingthemortgaheaway
    Thanks! Yes, sad that we wish the days away but I think it'll become second nature to me once I get in a more positive position. Happy payday! I hope you enjoy resetting your ynab pots.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 31st Aug 17, 12:09 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Some great plans there. Yes I'm so looking forward to 1st Sept too! Good luck
    Originally posted by BadBookkeeper
    Thanks for dropping by! Can't wait to update all my stuff tomorrow once my initial tranche of direct debits leave my account and start overpaying my CCs with this months allotted budget. Enjoy!
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 31st Aug 17, 12:34 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Payday!
    Its payday!

    Its my first payday as an MSEer but also important, its my first payday in a looooong time where I've had a positive bank balance starting the month AND know that I will have a positive bank balance finishing the month.

    To think I entered last months payday with a £639.45 overdraft seems insane to me now. Since 11th August, I've kept on top of my spending and ended the month with £137.09 in the bank. This means I've pulled things back by £776.54! It just goes to show you what you can achieve in just 20 days by being mindful with spending patterns, stopping the frittering and selling some stuff on ebay.

    I spent yesterday finalising my budget for September and it was so nice to input my salary as income into ynab and see everything go green. I also took some time to watch more Dave Ramsey zoutube clips. That guy is a financial monster! So good! Also had a NSD.

    Over the next few days I will be waiting for and recording the tranche of direct debits and standing orders that will be leaving my account. I will then overpay my cc's as per my ynab budgeted repayment plan for this month before new statements are generated. I intend to pay £1,021.25 off my total debts this month (exc. student loan). I can' wait to see the CC balances go down. I will update my signature and provide an monthly update over the next few days.

    My emergency fund should be up to £122 by tomorrow. My plan is to have £1k in there by July 2018. I may need to dip into it for £400 for the new boiler as I haven't put that aside in my budget - I'm too keen to get the debt paid off.

    Happy payday for those 'last working day of the monthers' and enjoy the start of a new month - a nice clean slate!

    DSL

    p.s. I'm in the office today. Parked on the road to save parking card usage and brought in my breakfast (yoghurt, almonds and banana), lunch (homemade soup and bread) and water (tap water tastes rank in the office!). Should be a NSD. Still haven't picked up my prescription doh!
    Last edited by DrSpendLittle; 11-09-2017 at 5:27 PM.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • ChasingSunshine
    • By ChasingSunshine 31st Aug 17, 5:24 PM
    • 101 Posts
    • 866 Thanks
    ChasingSunshine
    Well done on an amazing turnaround in such a short amount of time. Brilliant to start the month with a positive balance
    • Orange Ena
    • By Orange Ena 1st Sep 17, 12:02 AM
    • 1,239 Posts
    • 3,278 Thanks
    Orange Ena
    Wow, your done brilliantly to get rid of that overdraft so quickly Best thing I did was get rid of mine and start living in the black.

    Good luck with your goals, I'm sure you'll achieve them as you're so focused. Great to read
    Debt April 2015 - £6895.44 Debt April 2017 - £2500 May - £1455 Sept - £900
    CHEFS challenge (Cruise Holiday Entirely Funded by Surveys) - £327.26
    Every penny is a prisoner
    • BadBookkeeper
    • By BadBookkeeper 1st Sep 17, 10:07 AM
    • 105 Posts
    • 639 Thanks
    BadBookkeeper
    Fantastic achievements keep it going!
    • DrSpendLittle
    • By DrSpendLittle 1st Sep 17, 10:37 AM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Well done on an amazing turnaround in such a short amount of time. Brilliant to start the month with a positive balance
    Originally posted by ChasingSunshine
    Thankyou! Feels so good to see money in my account, although I've now paid a good chunk of that to CCs this morning so it's a little lower than last night!
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 1st Sep 17, 10:38 AM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Wow, your done brilliantly to get rid of that overdraft so quickly Best thing I did was get rid of mine and start living in the black.

    Good luck with your goals, I'm sure you'll achieve them as you're so focused. Great to read
    Originally posted by Orange Ena
    Thanks so much. Yes, there is something special about not being overdrawn and knowing the money in my account, even if it is just £2.50 is mine!
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 1st Sep 17, 11:13 AM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Payment Day
    Its the day after payday which must mean it's payment day! My lovely healthy bank balance has dwindled a wee bit this morning. I think there's about £680 in there. A bit disconcerting since I've been looking at a lovely fat balance since my paycheck went in there yesterday! But, it's all gone to the right place.

    An overview of my CC payments this month:
    B4rclaycard: Paid £297 leaving a balance of £8827.13. Yay! Finally below £9k!!
    JL Partnership Card: Paid £642.33 leaving a balance of £0. We had used this card to buy the hasty and unplanned kitchen purchase.
    BoS CC: Paid £254 leaving a balance of £999.73. Yay! Finally below £1k
    Total CC Payments inc. my part of the unplanned kitchen purchase: £993.33
    Total CC Payments exc. my part of the unplanned kitchen purchase: £863.34

    An overview of my saving transfers this month:
    Presents: £50 producing a balance of £51
    Car maintenance: £50 producing a balance of £51
    Emergency Fund: £3.04 + £10.42 (from a end of month sweep up of under spends from my ynab categories) £50 (usual monthly transfer) £30.67 (from my august salary adjustment) producing a balance of £122.66
    Total saved: £194.13

    I've created an account in ynab called purse and I've withdrawn £10 from the hole in the wall to deal with misc. cash spends. I also have £13.47 in my ynab misc. expenses category. I'm hoping this will cover any small random purchases throughout the month such as movie rentals etc.

    Right, best get back to work. I'm working at home today so hoping to have a NSD.

    I really need to catch up on my diary reading. I hope to post an update of where I am at and who've I've been inspired by thus far at some point over the weekend.

    Will update with car payment and thus total debt payments when it goes out on the 4th.

    Happy payment day everyone!

    DSL
    Last edited by DrSpendLittle; 11-09-2017 at 5:27 PM.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 2nd Sep 17, 12:52 AM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Friday feeling
    It's nearly the weekend!

    Had a NSD today and packed DF off to MILs for the weekend. Must not spend all weekend lazing about reading MSE diaries and watching Dave Ramsey clips on zoutube.

    Got a letter today from our new elec/gas supplier (dual fuel) who will start taking a monthly direct debit out of my account around mid sept. This screws up my September budget so I've had to 'borrow' some money back from my emergency fund to cover the shortfall until I know where we are at with existing monthly direct debits for our two existing suppliers. I've already given DF my part of those monthly bills (they come out of his account) so hopefully I can get that dosh back plus any overpayment balances (a possibility since its the end of summer!) and repay my EF soon. Nonetheless, this is precisely what an EF is for and I'm delighted that it has been put to use in a positive way for the first time! Just wasn't expecting to have to dip into it so soon. Rookie error.

    Used some advantage points to order some toiletries from Bo0ts online and will collect tomorrow when I head out to do a small food shop. It's nice to put these to good use when trying to have frugal months.

    Going to defrost the freezer this weekend - it currently looks like something from Antarctica and we need more space to freeze leftovers and soups. Hope I don't break it as I tend to let DF do these sorts of jobs around the house.

    I think my laptop will need replacing within the next 12 months. It overheats and switches itself off. Not good. It's about 4.5 years old so I guess it is to be expected but still, it annoys me how quickly obsolete these things become. Now, the old me would have probably already ordered a new one via JL using 0% interest credit and repaid over a year!! The new me will limp it along as much as possible and see where it gets me. Ideally, I'd like to buy a new one next September, after I've cleared my debts in July and spent two months saving up. But, we also hope to have moved house by then, so I need to be careful with over committing to spends before our moving plans are confirmed. I might see if work will pay for a new laptop, but it's a long shot.

    Right, it's late and there is a chance I will be up all night if I don't log off now!

    DSL
    Last edited by DrSpendLittle; 11-09-2017 at 5:29 PM.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 2nd Sep 17, 1:08 AM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Friday Afterword
    Doh. I forgot to mention it and I'll forget to do it if i don't write it down here...

    Need to look at changing broadband, car insurance, buildings insurance and contents insurance this weeeked. We can definitely save some pennies on these as we haven't switched in a while. But I need to be mindful that we are looking to move in the next 9 months so don't want to sign up for things we may need to end early.

    I still need to look into getting breakdown cover and mortgage protection insurance. I'm undecided on the latter as we both get really good sick pay at work and I know that DF can cover living costs if I wasn't working. I'd also have to change it when we move in the next 9-12 months and get a much bigger mortgage, so I might just hold off for now.
    Last edited by DrSpendLittle; 11-09-2017 at 5:29 PM.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • Moneywhizz
    • By Moneywhizz 2nd Sep 17, 8:31 AM
    • 117 Posts
    • 528 Thanks
    Moneywhizz
    Have been reading your diary recently and just wanted to say you are turning things around really quickly and seem to have taken to budgeting really well. As you can see having (and sticking to) a budget is the way out of debt and into you controlling your money rather than the other way round. It is so liberating to be debt free and able to choose what you want to do with your money.
    As far as mortgage protection goes, there seems little point in starting it now if you will be starting a new mortgage soonish. Even then, you should really look into the terms carefully. So many insurances don't actually do what you want and if you already have good sickness cover with your work,that may well be enough.
    Have subscribed and am looking forward to following your journey.
    • DrSpendLittle
    • By DrSpendLittle 3rd Sep 17, 2:57 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Have been reading your diary recently and just wanted to say you are turning things around really quickly and seem to have taken to budgeting really well. As you can see having (and sticking to) a budget is the way out of debt and into you controlling your money rather than the other way round. It is so liberating to be debt free and able to choose what you want to do with your money.
    As far as mortgage protection goes, there seems little point in starting it now if you will be starting a new mortgage soonish. Even then, you should really look into the terms carefully. So many insurances don't actually do what you want and if you already have good sickness cover with your work,that may well be enough.
    Have subscribed and am looking forward to following your journey.
    Originally posted by Moneywhizz
    Thanks for dropping by Moneywhiz and thanks for subscribing! This will be my first whole month of setting and sticking to a budget. I'm hoping I can stick to it and there may well be some lessons learned along the way where I have cut back too much. I'm excited but also feel a bit nervous! Doing well so far, three days in

    Agree on the mortgage protection front - will wait until I move but I'll make sure the terms suit my needs. I have the same with contents insurance - making sure all the individual items are covered in home and out of home. It's all very complicated!

    Look forward to checking out your journey
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 3rd Sep 17, 3:29 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Sunday Funday
    Can't believe it's Sunday again.

    Just sat listening to the radio and having a break from pottering around in the kitchen.

    DF has been away so I've had a quiet weekend doing some jobs about the house and getting some food shopping in. Had a movie night last night, with homemade popcorn and Aldi Pepsi - rock and roll!

    Old wine in new bottles!
    I'm a few weeks into the whole budgeting thing now and I'm definitely noticing the friction between my new MSE behaviours and my old spending habits. Just today, I was in Aldi getting some veg for the week (soups, roast etc) and noticed myself looking at picking jars. I nearly bought them as I thought I would make some chutney this autumn for Xmas pressies. The old self would have bought them, straight up, but the new me decided I should hold off until I've a firm plan in place and get them when I need them rather than when I see them. I can also reuse jars I will run out of soon, so probably didn't need them anyway! Same with food - I nearly bought a few random things and decided no, I haven't done a full meal plan yet so I can always go back and pick things up I need later.

    Weekend Jobs
    This weekend I defrosted the freezer and tided up the house. I also handwashed my car - again, something I would have spent £6 on at a car wash even though I have all the cleaning products at home. Need to get some tar remover though, my little car looks like it has a bad case of tar pox!

    Weekend Spends
    Filled my little car up with petrol on Saturday as the word on the street is that petrol prices will rise about 4p per litre this week as a result of the Texan hurricane. Only other spends this weekend beyond food was a bread bag from a cooks shop in my local town. As I walked around the cook shop I could sense myself looking at things like sistema Tupperware and odd bits of kitchen equipment and thinking 'oooh, that would be nice, I should get it'. Definitely those old spending habits coming to the fore again. I am a bit of a Tupperware addict and found it very difficult walking past all the sistema things that are currently in my Aldi

    What next?
    Going to read a few more diaries later but first I wlll make soup for lunches this week and maybe something for the snack tin (I've noticed I like to snack when I work at home) and we have everything in for either. Might watch another movie tonight - have a few things on my nexflix list so will see what DF wants to do when he shows his face.

    Must stop writing huge essays every few days and do some smaller posts

    DSL
    Last edited by DrSpendLittle; 11-09-2017 at 5:31 PM.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
    • DrSpendLittle
    • By DrSpendLittle 3rd Sep 17, 3:38 PM
    • 207 Posts
    • 750 Thanks
    DrSpendLittle
    Delayed Overdraft Fees
    Totally forgot about the overdraft fees I got charged this month for July's overdraft and didn't have them in my ynab budget

    It turns out my bank charge in a slightly delayed way. Maybe they all do? For some strange reason, I had assumed that since I wasn't overdrawn in August, I'd have no charges in September. Doh. But when I rang the bank on saturday, they clarified their charging schedule and confirmed they were for mid July to mid August. Bonus is that I got 28p interest too. It's the small wins that count

    The charges were only £7.80 but I still needed to borrow that from my swimming category to cover things in ynab. I've an item on eB4y ending tomorrow that will generate enough to cover the charges so I can put the £7.80 back in my swimming category then.

    Still, a good lesson for those who finally get round to leaving your overdraft - don't forget to budget for fees in the following month!

    DSL
    Last edited by DrSpendLittle; 03-09-2017 at 3:40 PM.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £1,002.21/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £631.64/£1,894.92
    Total CC Repayments: £2,568.28/£10,690.22 (24.02%) | Total Debt Repayments: £3,200.00/£12,585.14 (25.42%)
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