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  • FIRST POST
    • lcc86
    • By lcc86 25th Aug 17, 9:08 AM
    • 904Posts
    • 2,380Thanks
    lcc86
    Oops, back again...
    • #1
    • 25th Aug 17, 9:08 AM
    Oops, back again... 25th Aug 17 at 9:08 AM
    So, after thinking hard about whether to start another diary I've decided I need to do so in order to make sure I pay off my shiny new debts again once and for all!!!

    To give some background, I was in debt for most of my adult life from 21 to 30 years old as I was just extremely irresponsible with money I kept it secret from my family and managed to pay it off earlier this year when I sold my flat.

    I kept an 'emergency' credit card which was to be used for work expenses and any aforementioned emergencies. However I wasn't strict enough with myself and used it to book a mini break, and a couple of other things. I'd budget to repay it the following month, but surprise surprise actual emergencies occurred e.g my windscreen smashed and needed replacing, my car needed some new parts, and more recently I've had vet fees to pay. All of which has meant I now have £635 on there, with the final vet bill still to be sent to me, so realistically it'll be about £800. My phone also died a few weeks ago and so I used my Very account to get a new one at £200. On top of that I've also just signed up to a chiropractor treatment plan to fix some longstanding issues with my spine.

    So basically I wanted to start a diary to help on the journey to clear all the debt again once and for all! My biggest error when I became debt free was not focusing on an emergency fund (I booked a holiday instead ). I've been part of the 365 day challenge this year so have decided that that money will be my emergency fund and I'll hopefully add to it next year as well. No holidays next year outside the UK as I'm returning to uni via distance learning in a few weeks so I'm hoping I'll be so busy with that that time will fly and I won't even notice!

    So time to bite the bullet and write down the totals:

    Very account £177 (mobile phone) 0% interest
    Credit card £625, 0% interest, broken down into:
    - £129 camper an holiday
    - £25 windscreen
    - £25 chiropractor
    - £240 vet fees (with more to follow)
    - £136 car parts
    - £60 car insurance (renewed a few weeks ago and didn't quite have enough)
    - £10 work expenses (not too concerned about this as will be reimbursed)

    Grand total of £802

    I've seen over the last few weeks that it's incredibly easy to rack up debt when you don't have an emergency fund. Each time I've thought oh I'll budget to repay X over the next month or two months, but then something else comes along and throws a spanner in the works. So no more! Time to clear it once and for all! I'm annoyed with myself that after everything I went through to clear the debt last time, it's easily crept back up again within 6 months. I have the means to not be in debt, I just need to be smarter. And remember that emergency really does mean emergency!

    I'll start contributing properly when I get paid next week. I've set the budget and the plan is to put £250 towards credit card, £30 to Very, and I also need to save £250 for various bits and bobs. I hope to be debt free again by January or February at the latest.

    So if anyone wants to join me and listen to my ramblings again, feel free!
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
Page 1
    • enthusiasticsaver
    • By enthusiasticsaver 25th Aug 17, 9:20 AM
    • 4,679 Posts
    • 8,858 Thanks
    enthusiasticsaver
    • #2
    • 25th Aug 17, 9:20 AM
    • #2
    • 25th Aug 17, 9:20 AM
    Emergency fund is a must to avoid debt and yes you have seen how easy it is to take your eye off the ball but at least you stopped at £800 rather than £9000 this time. Budgeting, living within your income and emergency fund will all help keep you out of debt for the long term. If your income is reducing then living within your budget is even more important.

    Holidays often seem to be the sticking point for people. I wonder if it is because when they are booked they are often months away and people think oh I can save for this or repay the deposit paid on credit card then before you know it the holiday has been and gone and the cost still on the credit card. We had a holiday fund years ago and never booked until the money was there to pay for it.
    4 weeks to go until early retirement in December . Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • Cumbria lass
    • By Cumbria lass 25th Aug 17, 9:21 AM
    • 791 Posts
    • 3,825 Thanks
    Cumbria lass
    • #3
    • 25th Aug 17, 9:21 AM
    • #3
    • 25th Aug 17, 9:21 AM
    I think people will resonate with you. I cleared £15000 of debt on a DMP 2010 to 2013 , but have ended up £5000 in debt again. This time though I found this forum and hopefully will be debt free in 18 months and will never happen again.

    Good luck with your plan , EF is a must .
    Nov 2017 CC1 £3329 CC2 £600

    Debt Free Nov 2019: earlier if I have my way
    • lcc86
    • By lcc86 25th Aug 17, 9:55 AM
    • 904 Posts
    • 2,380 Thanks
    lcc86
    • #4
    • 25th Aug 17, 9:55 AM
    • #4
    • 25th Aug 17, 9:55 AM
    Agree with you both! I was so happy to be out of debt that I just wanted to enjoy it... Still, lesson learned and hopefully for good this time! Onwards and upwards.
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
    • Orange Ena
    • By Orange Ena 25th Aug 17, 11:24 PM
    • 1,239 Posts
    • 3,274 Thanks
    Orange Ena
    • #5
    • 25th Aug 17, 11:24 PM
    • #5
    • 25th Aug 17, 11:24 PM
    Welcome back lcc You can do it, and enthusiastic is right, it's good you're doing something now while the debt is £800.

    I'll be cheering you on
    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
    • redofromstart
    • By redofromstart 28th Aug 17, 9:15 AM
    • 519 Posts
    • 2,916 Thanks
    redofromstart
    • #6
    • 28th Aug 17, 9:15 AM
    • #6
    • 28th Aug 17, 9:15 AM
    Hello, and good luck to you.
    • lcc86
    • By lcc86 29th Aug 17, 11:20 AM
    • 904 Posts
    • 2,380 Thanks
    lcc86
    • #7
    • 29th Aug 17, 11:20 AM
    • #7
    • 29th Aug 17, 11:20 AM
    Thanks Red!


    No time like the present to start this new diary properly! I've seen my payslip for the coming month and it's as expected, no expenses as my manager didn't authorise them in time and I forgot to chase, but it's not the end of the world. I've managed to finalise September's budget so we're good to go


    I get paid tomorrow and will be aiming for 18 NSD's from tomorrow up until next payday at the end of September. Also aiming for 20 'healthy days' throughout the month as well, and to spend less than £20 on toiletries/household goods throughout the month. I used to spend £10-£20 on toiletries max but in recent months it really has crept up to ridiculous levels so I need to get that back under control.


    I should have £120 left as 'spare' cash this month. I have a habit of dipping into this spare cash throughout the month, usually at the beginning, and then it leaves me skint. I want to try and spend as little of it as possible this month and then at the end of the month decide what to do with it, whether that's buying something I need, putting it towards the credit card or savings etc. I really, REALLY need to be more strict with myself.


    I actually have £30 left in my food/petrol budget as well this month which is a first! I've decided to use £12 of that to buy a NUS card to get student discounts as I return to the OU soon. The rest I might leave in there as I do sometimes overspend on food/petrol and struggle with this, so it would be good to create a buffer.
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
    • lcc86
    • By lcc86 30th Aug 17, 8:39 AM
    • 904 Posts
    • 2,380 Thanks
    lcc86
    • #8
    • 30th Aug 17, 8:39 AM
    • #8
    • 30th Aug 17, 8:39 AM
    Payday today and I've shuffled the relevant money to where it needs to be. I paid £15 off my credit card yesterday and paid £30 off my Very account this morning. I also decided to 'virtually' remove my expenses from my debt total. It's only £10 and realistically it's not 'debt' as it gets paid each time my expenses are approved. So I updated my signature to reflect all of the above, and the debt now stands at £743. I'm still expecting it to rise once the vet sends me my final bill. My credit card statement isn't due until the middle of the month so I haven't paid it off yet, but will be paying £250 which will make a nice dent in the amount I owe.


    Shopping was delivered last night, £51 spent. Am buying a bit less meat (I'm veggie so it's just for OH) and trying to be more imaginative with what I buy to stretch meals a bit more. I'm not a very good cook! Also spent £7.20 on toiletries and household bits.


    I received a letter from my credit card company the other day increasing my credit limit. Have sent them an email this morning asking them to keep it as is, I don't need it increased. It will be solely for emergencies from now on!!


    I've also sent £280 to various savings accounts this month - this has gone towards Xmas, OH's birthday, my emergency fund and my holiday fund. I booked a weekend in Devon prior to my current financial trouble, it won't be expensive but it's an expense I could now do without. Still, we're going to go and it'll be good to get away as it falls just before I go back to uni.


    I desperately need to book a hair cut and found a local college with a beauty salon who will do it for a fiver. I'm a little apprehensive about trying it, but I'm going to give it a go just for a trim. If it goes wrong then I'll go somewhere 'proper' to have it fixed. Will book that when the college reopens next week.


    I have chiropractor today after work so will have to pay for parking. It's £1.50 I think, but that will be the only spend for the day.
    Last edited by lcc86; 30-08-2017 at 8:41 AM.
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
    • lcc86
    • By lcc86 31st Aug 17, 11:26 AM
    • 904 Posts
    • 2,380 Thanks
    lcc86
    • #9
    • 31st Aug 17, 11:26 AM
    • #9
    • 31st Aug 17, 11:26 AM
    Stuck to my planned spends yesterday and just paid for parking at the chiropractor. Today should be an NSD hopefully. No spends planned anyway.

    I was tidying my desk-cupboard thing (looks like a little cupboard but when you open the doors it's also a computer desk) recently and two of the shelves have broken. I need a decent desk for studying at so looked around and couldn't find anything remotely decent and a good size for under £100. Then I remembered I have a table top in the basement, so measured it, and found some legs I can buy for £10 from the same shop that I got the table top from. Am really pleased with that as I can now create a fully functioning desk space for £10 instead of worrying about finding the money elsewhere and struggling with the broken one. Will go and get the legs tomorrow.

    Nothing much else to report today, weather is good and have the chance to do a bit of work outside during the working day which makes a change so I'm off to make the most of it!
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
    • lcc86
    • By lcc86 1st Sep 17, 12:17 PM
    • 904 Posts
    • 2,380 Thanks
    lcc86
    The majority of the direct debits and standing orders have gone through this morning - mortgage, council tax, savings for the house fund, and payment for my horse share for the month.


    Today will be a spend day as we're off to Ikea later, there's a few things I'd like to get there but only one 'need to get' so I'll see how much the other stuff is when we get there. None of it should be expensive so we'll see.


    I've spent £2 on buying some index cards online to help with studying as well.


    Tomorrow will be walking a friend's dogs tomorrow morning followed by the first coat of paint in the living room, then OH is treating me to dinner in the evening. Sunday will be volunteering at RDA in the morning then riding in the afternoon. It's supposed to rain in the afternoon apparently so might stick to a relatively short one!
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
    • enthusiasticsaver
    • By enthusiasticsaver 1st Sep 17, 12:36 PM
    • 4,679 Posts
    • 8,858 Thanks
    enthusiasticsaver
    I am glad you have started up your savings accounts for things you want and an emergency fund. It just makes budgeting so much easier.

    Keeping any underspends as a buffer is a good idea but if you find you underspend a few months in a row I think I would increase the payments to the debt to get rid of it sooner.
    4 weeks to go until early retirement in December . Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • redofromstart
    • By redofromstart 1st Sep 17, 2:41 PM
    • 519 Posts
    • 2,916 Thanks
    redofromstart
    I like the table tops/legs from the swedish emporium of meatballs. Simple and economicial enough to replace either if needed. Although I never leave having just bought the thing I went for and I have to factor that in. How did you get on?
    • lcc86
    • By lcc86 2nd Sep 17, 8:57 AM
    • 904 Posts
    • 2,380 Thanks
    lcc86
    I am glad you have started up your savings accounts for things you want and an emergency fund. It just makes budgeting so much easier.

    Keeping any underspends as a buffer is a good idea but if you find you underspend a few months in a row I think I would increase the payments to the debt to get rid of it sooner.
    Originally posted by enthusiasticsaver
    Thanks enthusiasticsaver, I'm glad now that I signed up for the 365 day challenge as it's given me a decent starting point. By the end of the year I'll have in the region of £645, I'd like to get it to £1000 at the start of next year after the debt is cleared!
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
    • lcc86
    • By lcc86 2nd Sep 17, 9:02 AM
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    • 2,380 Thanks
    lcc86
    I like the table tops/legs from the swedish emporium of meatballs. Simple and economicial enough to replace either if needed. Although I never leave having just bought the thing I went for and I have to factor that in. How did you get on?
    Originally posted by redofromstart
    I stuck to the list exactly! I looked up everything I wanted to get beforehand and found it all. There's so much temptation in there, I'm sure they make you walk through the entire shop just to torture you. I got 2 large dinner bowls (dropped the last one on Thursday and smashed it) at £4 each, table legs at £10, a monitor stand for £20 (that was definitely a cheeky purchase), and a desk tidy for £7.50. £44.50 spent, I took £30 from the house fund and the rest from my unallocated weekly budget.
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
    • lcc86
    • By lcc86 4th Sep 17, 4:28 PM
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    • 2,380 Thanks
    lcc86
    Saturday and Sunday were NSD's as expected. Mostly spent Saturday inside, did a coat of paint in the living room and general tidying up, set up my study space etc. Then off to dinner with OH (his treat). Was really, really nice.


    Sunday I finished the living room (with the exception of the feature wall), and then went horse riding. Kept it relatively short as it was raining, just did 45 minutes in the school.


    Today hasn't been a NSD, bought a drink this morning (not needed but just wanted a little pick me up as I felt knackered) and also picked up some chocs for work colleagues. I also have chiropractor again today so need to pay for parking. I have managed a 40 minute walk this morning plus a 20 minute one at lunchtime (trying to compensate for being naughty with the chocolate!).
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
    • lcc86
    • By lcc86 5th Sep 17, 8:58 AM
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    • 2,380 Thanks
    lcc86
    Feel knackered today! Not sure why, even managed a bit of a lie in until 7.30, but don't think I slept all that well.

    In a bit of a predicament at present. I start my masters in a few weeks and they want payment by the 17th. I've applied for my student loan but the first payment isn't until October. So I applied for a 0% purchase credit card to enable me to pay for the module and then repay it once the student loan money comes in. However I applied for the card in mid-August and haven't received any paperwork. I've chased them and they reckon they've resent it, and they definitely have the right address, but I'm running out of time to sign it and return, then get the card in time to pay by the 17th. I've got an offer on my emergency credit card for 0% purchases until Feb, with a 1.8% fee, so I'm just wondering if I should bite the bullet and do that instead. I don't want to risk leaving it till the last minute, not have enough time to get the finances in place and then lose my place. The OU keep emailing me chasing payment too. I don't particularly want to pay more interest than I have to (I think the 1.8% fee works out at about £40) as I'll have interest to pay on the student loan itself but it's starting to feel unavoidable at the moment. I think I'll give it a couple more days to see if the paperwork arrives and if not I'll call and ask them to cancel just for safety's sake, then pay on my current card. I really wanted to keep the student loan stuff separate to my personal debt just to avoid confusion but it looks like that may not be possible...

    Today I'm off to a meeting in London then will get the train over to work from there. I get to claim the cost of the travelcard back so might as well use it for the entire commute. Just to update my totals, I've had:

    3/18 NSD's
    4/20 healthy days
    £11.40/£20 spent on toiletries
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
    • lcc86
    • By lcc86 6th Sep 17, 9:08 AM
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    lcc86
    So I bit the bullet and requested the 0% on my current credit card, hopefully it'll be sorted in the next couple of days. The one I applied for still hasn't arrived and I can't risk leaving it much longer, especially if the card were to take even longer to arrive. So now I'll have my OU fees mixed in with my personal debt, which annoys me, but I know that a. it's 0% which is the best it could be! And b. it's only until February. I get the first payment in October so can get rid of half of it then. It's annoying that the university expects payment before the loan comes in, I did some research and it's one of the only universities that has this policy. Seems silly to expect students to stump up the fees up front - surely if I had the money I wouldn't be applying for a student loan in the first place?! Ah well, it's hopefully all resolved now.


    Today I'm working from home so that's 2 days of not using the car now which all helps with petrol costs. Yesterday was a NSD and today should be too. Shopping is being delivered later but I never count that as a spend as I have my own 'food' pot (is that cheating?!). Better crack on with some work.
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
    • lcc86
    • By lcc86 7th Sep 17, 6:23 PM
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    • 2,380 Thanks
    lcc86
    The money transfer has all been completed so now I can pay my uni fees, will log on and do that in a minute. Not much else to report tbh, been another NSD and healthy day. Just back from a run after work, only 2k but better than nothing! Am starving so I think an early dinner is on the cards then I'm going to settle in for some tv. Am watching Top of the Lake (series 1) atm so will try and get another episode of that in before OH comes home.
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
    • lcc86
    • By lcc86 8th Sep 17, 5:28 PM
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    • 2,380 Thanks
    lcc86
    No NSD today, have paid for parking at the chiropractor and am also about to go out with some colleagues for a leaving do. I'm driving and will probably stick to water but there will be food involved. Not really in a particularly social mood today for some reason so may make my excuses early, especially as it'll take about 90 mins to get home, but it's good to get out every so often.
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
    • lcc86
    • By lcc86 9th Sep 17, 2:58 PM
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    • 2,380 Thanks
    lcc86
    Had quite a good time in the end last night, spent £11 on food and £1.40 on parking. I was home by 11 and it took much less time to get home than I'd thought so positives all round.

    Today I've painted the feature wall and spent a good hour doing as good a job as I could of cutting in, the contrast between the two walls colour-wise is massive so I had to get it right! However now that it's done, it means the entire flat is decorated (only took 10 months from moving in!) so I'm really chuffed. I also wasn't 100% sure of the colour but now it's done I love it

    I was going to go to the shops but I'm going to have a bath and spend the rest of the day pottering around so today will be a NSD.

    We've received our latest service charge bill, £182 each which is due at the end of the month. My house fund stands at £612 so I've got more than enough to cover my half, but it will mean the fund will dip below £500 for the first time in months. In my head I want to keep it above £500 whenever possible so I'll have to make sure I don't spend anything for a while until I've topped it back up - easier said than done however as we're having a roof survey done next week and I have a suspicion that the roof needs replacing it needed doing before we moved in so it comes as no surprise. On the plus side at least all the flats have to contribute which helps keep costs down.

    Right, time to hoover, clean my aquarium, the kitchen and bathroom, and then bath time!
    1/12/14 total £9,140 DFD 30/01/17
    http://forums.moneysavingexpert.com/showthread.php?t=5124473 - my original DFD

    25/08/17 new total £802 back in debt but determined clear it by February 2018! 17/11/17 - £110 2017 365 day challenge £597 saved for emergency fund
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