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  • FIRST POST
    • Nicnak
    • By Nicnak 10th Sep 17, 8:30 PM
    • 544Posts
    • 2,685Thanks
    Nicnak
    Debt Free Year
    • #1
    • 10th Sep 17, 8:30 PM
    Debt Free Year 10th Sep 17 at 8:30 PM
    Hi,

    I've pretty much buried my head in the sand over the past 15 years about debt and what it means. I've always seen it as 'normal' to have debt for things, and never thought twice about it. Recently though, I have wanted to think about cutting down my work hours, and I just can't. I can't be the mum I want to be to my 4 year old because I need to work to make sure I can pay the bills and debts. That is when it hit home, that I can't continue like this. I am having a wedding reception in December, which I know is going to take up most of my 'spare' cash, but from January 2018, I will make a difference to my debts.

    Currently have
    £485 0% credit card. It was £2000 in July, So I have been ensuring that I am working on it.
    £7500 Tesco loan at 3.2% - Paying £220 a month and due up in Three years
    £17,450 car loan. Car is in negative equity and I'm stuck in the PCP. The car also is over mileage and has damage. I am 10 months away from handing it back, but with excess mileage and damage, I am thinking this might not be the best idea. Currently paying £351 a month for this luxury that I am thinking I don't need. (I shouldn't have got it, but I did, I can't change what I have stupidly done, and now need to work on the best options).
    I spend money every month on things I don't need, and really need somewhere to record and focus on what it is I am doing, and the inspiration to keep going when I see progress is being made.

    I've started a written diary as well to try to help. If I pay off these debts, then I know that I will be £500 better off. In April, my phone is due up for renewal, and I have already looked at the SIM only deals which will take it to the £500 a month mark.

    i am going to try to earn some extra per month to pay off the debts, which in the short term might reduce the time I have with my daughter.

    Here goes...

    I really need to do this now.
Page 6
    • timetobefrugal
    • By timetobefrugal 12th Oct 17, 8:02 PM
    • 71 Posts
    • 189 Thanks
    timetobefrugal
    Just wanted to pop in and say hello. Looks like you are doing a good job so far, try not to get too disheartened! I've been trying to tackle a similar level of debt since 2016 but have only seen it go up! It's a long slog but will be worth it in the end. Hopefully next month you'll be in a flow with my payday/bill dates, good luck!
    • Nicnak
    • By Nicnak 13th Oct 17, 6:43 PM
    • 544 Posts
    • 2,685 Thanks
    Nicnak
    I didn't get paid today. Normally when pay day falls on a weekend, you get out the friday before. apparently, this company doesn't do that and it comes the monday.

    I had to withdraw £10 today as I wasn't in my normal work and on a visit. If I had to pay parking, then I could get my money back, but needed cash just in case. I bought a coffee for myself and a colleague. I got a £4 dinner voucher, but ended up dealing with students so much, I didn't get time to eat.

    Overdraft stands at -£69.

    Still better than last month.
    Nicola
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 14th Oct 17, 6:49 AM
    • 544 Posts
    • 2,685 Thanks
    Nicnak
    Just wanted to pop in and say hello. Looks like you are doing a good job so far, try not to get too disheartened! I've been trying to tackle a similar level of debt since 2016 but have only seen it go up! It's a long slog but will be worth it in the end. Hopefully next month you'll be in a flow with my payday/bill dates, good luck!
    Originally posted by timetobefrugal
    Thanks for popping in x
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 14th Oct 17, 6:57 AM
    • 544 Posts
    • 2,685 Thanks
    Nicnak
    Morning,

    I got PAID! It is now showing in my bank account. Not much got taken from it form my overdraft so that is showing as a huge plus in my account. Next month it will have none.

    I had a minimum payment on my credit card to make because of the mess up. That will be rectified next month so that will mean that I will get that back as in theory my credit card is 0, once the error is sorted.

    I know i need a minimum of £100 in my account the last week before I get paid.

    I have paid my money into the joint, the childcare came directly out of my wages this month, which lowered my wages by £100, but took £160 of childcare, which is great.

    I'm still bidding on people per hour. The £152 was a scam apparently to get people to sign up. I've been bidding for blogging jobs and writing letters.
    I don't know how to structure the proposal bit though to stand out so think I might be losing out on that because of that.

    I'm tutoring twice before the end of the month too. That's £60. I have a busy month between next payday and have:
    A wedding
    My sister's birthday
    my birthday
    my nephews birthday.
    half term.

    I need to keep focussed this month and will keep writing in here.
    Happy weekend everyone x
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • DebtFreeDuo
    • By DebtFreeDuo 14th Oct 17, 8:53 AM
    • 616 Posts
    • 3,016 Thanks
    DebtFreeDuo
    You have got this Nicnak, this month will be an overdraft free month for you. Keep checking in, it definitely keeps you focussed.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • Nicnak
    • By Nicnak 14th Oct 17, 3:04 PM
    • 544 Posts
    • 2,685 Thanks
    Nicnak
    Yep!
    Today was shopping day. Budget of £40 spent £43. Hubby was with me and saw things I was putting in the bag that I hadn't picked up! Little monkey.

    He's been buying the top up shops though so I've been saving some money. Very happy with that.

    Need to get my sister a present tomorrow for her birthday. Budget of £10 so will have a look tomorrow at what I find.

    Filled in a survey for 1500 pints and installed something to track my internet use for 3500 points. That should mean around £50 in vouchers for me. I'll use that to buy Christmas things.

    That'll be about 5 presents sorted!
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • 117pauline
    • By 117pauline 14th Oct 17, 3:47 PM
    • 461 Posts
    • 5,644 Thanks
    117pauline
    Good afternoon

    I have just read through your diary and thought I'd say hello.

    Hopefully you are keeping a record of your successes, like the NSDs to encourage you further.

    If you look at where your spending has been, it seems they are major purchases such as shoes and Christmas presents. Not casual splurged but needed.

    The problem with starting tight budgeting near Christmas, is that you have big purchases to make without being able to build up a surplus in advance. Also you started from a negative balance. Yes, you forgot some DDs but your first SOAs are going to works in progress.

    So tell the nasty devil on your shoulder to do one. You are doing well and can beat this.

    Have a good weekend
    Pauline
    Don't get it perfect - Get it going
    Better Than Before
    • Nicnak
    • By Nicnak 14th Oct 17, 5:17 PM
    • 544 Posts
    • 2,685 Thanks
    Nicnak
    Good afternoon

    I have just read through your diary and thought I'd say hello.

    Hopefully you are keeping a record of your successes, like the NSDs to encourage you further.

    If you look at where your spending has been, it seems they are major purchases such as shoes and Christmas presents. Not casual splurged but needed.

    The problem with starting tight budgeting near Christmas, is that you have big purchases to make without being able to build up a surplus in advance. Also you started from a negative balance. Yes, you forgot some DDs but your first SOAs are going to works in progress.

    So tell the nasty devil on your shoulder to do one. You are doing well and can beat this.

    Have a good weekend
    Pauline
    Originally posted by 117pauline
    Thank you!
    Hi, thanks for reading and commenting, sometimes it feels lonely trying to be debt free.

    I have my wedding evening reception on the 23rd December and need £2k for that. I'm picking up Christmas presents along the way to try to help, and paying loans off to ensure I don't start the year in the same amount of debt as I started with.

    I've just been to Tesco to get my sisters present. I wanted st least one NSD this weekend so did it today. I got her present for £9.50 and pillows for £1.50 for two reduced (so happy!)

    I then picked up some boxes of chocolates on offer fir £1 to give to the teachers at my daughter's school. Again, picking up little and often.

    Tonight I'm going to do some more surveys for points, and then go to my banking and pay extra off the loan.

    So tomorrow will be a NSD.

    I have £5 in my purse for next week.
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 14th Oct 17, 8:09 PM
    • 544 Posts
    • 2,685 Thanks
    Nicnak
    I've just rounded down my bank account and paid another £53 off my loan.
    That means that my last payment is now less than half my normal monthly.

    I'll be down to 30 months before i know it, and then it'll start to go down very quickly.

    The minimum payment I had to pay off my credit card because of my stupidity will eventually be refunded and that will also go off my loan. Every little counts.

    I have done some more surveys tonight, just a few points here and there, but it all adds up.
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 15th Oct 17, 7:54 AM
    • 544 Posts
    • 2,685 Thanks
    Nicnak
    Morning,

    I have just visited a survey to find that I had 600 points. I redeemed 500 for a £5 amazon voucher and then I will have £55 when the other bits come in from the other website.

    That will go a long way in making sure I have decent presents for my nephew without me having to spend loads.

    Off to see some of my hubby's family today.

    I'm feeling excited about the money situation.

    I want to give up work next year, and we worked out that if I do, give my car back, and the lack of childcare, gym membership, and other minor bills that go with all of that like insurance, fuel, tax etc, would save us just short of £1000 per month. That is HUGE.

    X
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Honeysucklelou2
    • By Honeysucklelou2 15th Oct 17, 8:15 AM
    • 510 Posts
    • 1,897 Thanks
    Honeysucklelou2
    Well done on all the NSDs.
    paydbx #90 £475/£10,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3206 in Oct 17
    • Nicnak
    • By Nicnak 15th Oct 17, 9:07 AM
    • 544 Posts
    • 2,685 Thanks
    Nicnak
    Just thinking about the bills I wouldn't have if I'm not working and the amendments I can make once I am out of contract on a few things.
    1) car payment £351
    Car insurance £45
    Car tax £20 a year
    £union £15
    Phone £30
    Gym me £90
    Childcare £320
    Fuel £100

    that's over £950. If I can pay off my loan in that time too, that's another £218 a month.

    That's over £1170. A huge phenomenal amount. Wow!

    Never really looked at everything in so much detail before. Now I'm focussed, I'm analysing everything.
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 15th Oct 17, 9:07 AM
    • 544 Posts
    • 2,685 Thanks
    Nicnak
    Well done on all the NSDs.
    Originally posted by Honeysucklelou2
    Thank you. Aiming for today and at least three weekdays this week.
    Next weekend will be expensive with the hotel.
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • DebtFreeDuo
    • By DebtFreeDuo 15th Oct 17, 9:11 AM
    • 616 Posts
    • 3,016 Thanks
    DebtFreeDuo
    Wow that is a huge saving, a car and childcare alone can make it hardly worth us going to work! You seem much more positive and more focussed since payday which is great to see.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • Nicnak
    • By Nicnak 15th Oct 17, 9:27 AM
    • 544 Posts
    • 2,685 Thanks
    Nicnak
    I was just disappointed in myself for not thinking and checking the bills. I guess I was used to them being the first bills out previously and had just assumed they'd come out.

    This month will still be tough with everything happening. I'm not overpaying too much first part of the month though until I see how much I have left.

    I'm worried about how much I'll have left this month so being very cautious.

    Also very excited about the potential savings I could have. The focus I need now will hold amazing results in my long term future. I have to keep remembering that.
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • 117pauline
    • By 117pauline 15th Oct 17, 4:51 PM
    • 461 Posts
    • 5,644 Thanks
    117pauline
    Happy Sunday

    I thought I would come over to your diary after your comment on Duo's diary.

    Have you looked at Pinterest for Bullet Journal pins as well as ones for quotes etc. I enjoy collecting items on it and seems to curb my urges to spend.

    https://www.pinterest.co.uk/pauline117/

    This is my board where I save ideas and words. Shame I don't always follow them!

    Have a good week
    Pauline
    Don't get it perfect - Get it going
    Better Than Before
    • DebtFreeDuo
    • By DebtFreeDuo 15th Oct 17, 5:26 PM
    • 616 Posts
    • 3,016 Thanks
    DebtFreeDuo
    The run up to Christmas will always be tough, especially when adjusting to a new budget and not having had time to put savings to one side throughout the year. I can see how focussed you are this month and you will get through it. You are completely right about your focus now, if we keep our focus on our goals and change our habits and our mindset then next year will be very exciting.

    Pauline I had a quick look at your pinterest (hope you don't mind), I really love it, I've never been on there before but it makes me want to sign up and post lots of inspiration on there for me to keep going back to.
    Loan:1780.49 2207.38 Car Loan:2039.22 2419.64 0% CC:984.98 1063.48 Overdraft: 860 Overpayment:1781 Total: 7445.69 DFD Dec 18
    SPC 586
    • Nicnak
    • By Nicnak 15th Oct 17, 7:29 PM
    • 544 Posts
    • 2,685 Thanks
    Nicnak
    Thank you Pauline, and Debt free Duo,

    I am off for a look on pintrest now. Thank you for sharing that with me.

    I am so desperate to not be working next year and having my debts gone, that I am really putting everything into this. It's my birthday next week, and I normally get money from a few family members. I really want a dressing gown, and some pjs as I am desperate for them. Instead, I am going to put any money to that hotel I am staying in for the night and ask for everything I need as Christmas gifts instead. My mum would love for me to give her some ideas, So I am going to put the things that I want to her. They're not expensive and my mum prefers it when I give her some ideas as to what I would like otherwise she always ends up struggling to buy me things.

    My mum is deffo not the type to scrape on gifts and wouldn't accept me saying don't buy me anything.

    I've been a bit worried about this hotel on Saturday. I wouldn't normally spend so much, but it is a beautiful venue, and we haven't had a night off in over a year. We just received a cheque for £50 for when we got married so i've just cheekily asked the hubby if we could use it for part payment as we are both staying and it is a luxury for us to have this hotel room. He is more than happy for that to happen. That now means that I am looking for £100 rather than £150. I do my tutoring this week at £30 so that's £70 now already. I feel a lot happier about it already.

    I love the self journal. I actually think it will be something that will ensure i am not in debt next year and not working. Two months till Christmas so I am sure if I ask Hubby he will oblige. Especially as it is the only gift I want.

    Today was a fab NSD. Hubby was suggesting a coffee shop on the way to his Nan's house, but I was adamant it wasn't needed.

    We did have a few old pound coins that he went to Tesco with. None of them were mine!

    I've still got £5 in my purse and hubby's car will need the journey next week as it's diesel and he doesn't do the mileage to keep the DPF going like he should. I've been taking it to work a few times a week to help, which is helping to keep my fuel lasting just an extra day longer. All helps.

    I've also realised that with next week being half term, I won't have the £25 fuel I normally have. I'll ensure that I do some days local and endeavour to keep the spend to as close to £20 as possible for me and little one to have some fun. i know a few places already so pretty sure I can do it.

    Hubby has said he is surprised at my commitment to this. Also very proud that I am tackling it all. I guess once I achieve it, it will give him the boost he needs to give it a go. He's started to do some bits already.

    3 NSDs required this week minimum.

    x
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • Nicnak
    • By Nicnak 15th Oct 17, 7:34 PM
    • 544 Posts
    • 2,685 Thanks
    Nicnak
    Happy Sunday

    I thought I would come over to your diary after your comment on Duo's diary.

    Have you looked at Pinterest for Bullet Journal pins as well as ones for quotes etc. I enjoy collecting items on it and seems to curb my urges to spend.

    https://www.pinterest.co.uk/pauline117/

    This is my board where I save ideas and words. Shame I don't always follow them!

    Have a good week
    Pauline
    Originally posted by 117pauline
    Thanks for sharing. I have had a good nosey. I also noticed the fibro stuff. I was diagnosed in 2014 by a rheumatoid specialist, been looking at ways of dealing ever since. x
    September 6th 2017 start Updated 25th NOV 17
    Credit Card £430 now: £1181 Tesco Loan £7500 = £6700 Car loan £17,500 = £9,875 Total = £25,330 £17,756 EMF #252
    Sealed pot challenge #589
    Pay off all your debts by Christmas #170
    • 117pauline
    • By 117pauline 15th Oct 17, 7:49 PM
    • 461 Posts
    • 5,644 Thanks
    117pauline
    I am really pleased you both like my pinterest boards.

    I save some items as pins instead of actually buying the products. Then a couple of weeks later I remove them when I can't remember what I liked!

    From my board's you'vs probably gathered I like words and poems as well as travel. I loved your poem about Christmas.

    The Fibro is a pain, isn't it? I am very lucky with my GP as I've been able to switch to her new surgery. She is very understanding but doesn't shy away from calling me out on things when I am not helping myself.

    I suggested the self care list because when I feel rough I forget how to make myself feel better. My journal is my way of helping manage the situation I am in.

    It's good that your husband is being so encouraging and noticing the changes you are making.
    Don't get it perfect - Get it going
    Better Than Before
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