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  • FIRST POST
    • Regency1
    • By Regency1 15th Sep 17, 3:56 PM
    • 3Posts
    • 16Thanks
    Regency1
    Loan? What loan?
    • #1
    • 15th Sep 17, 3:56 PM
    Loan? What loan? 15th Sep 17 at 3:56 PM
    Hi anyone reading,

    I feel like a bit of a fraudster writing a diary on here as I don't have a huge amount of debt. On the other hand I have a new debt and I would like to get rid of it ASAP, especially as DH and I are thinking of trying to start a family very soon.

    I have a good job, as does DH, and we don't want for anything. We have a mortgage, which neither of us really considers as an urgent debt, and comfortably cover our bills and other payments. DH has had a couple of inheritance payments which mean that he is very comfortable and I know that if anything went wrong for me he would help me out. But I don't really like the thought of being dependent and I know that on the wage I am on I should have way more savings and way less c**p in the house to show for it.

    My new debt takes the place of a car that I bought a couple of months ago. I borrowed £5000 from DH and took out a £7000 loan at a pretty low interest rate over 3 years. I have a Sharesave account through work which matures in December and if the share price stays the same as it is now then that should cover the amount I owe DH. Leaving me with £7000 to pay off. I think because it was planned I don't really think of myself as being in debt. Which is really stupid because I am!

    I have been a long-time lurker on the MSE pages and love reading other people's diaries. I love the sense of community that people have here. So I thought I would give this a shot, and use the diary as a way to be accountable for my spending and see if I can get this loan done and dusted way ahead of schedule.

    Thanks for reading!
Page 1
    • Regency1
    • By Regency1 16th Sep 17, 3:52 PM
    • 3 Posts
    • 16 Thanks
    Regency1
    • #2
    • 16th Sep 17, 3:52 PM
    • #2
    • 16th Sep 17, 3:52 PM
    Today I had a list of things to do in town and I think I managed to get most things done. I live in a wee village and only get into town at the weekend . Unfortunately that also means that I spent some money but it was mostly planned.
    I'm going on holiday on Tuesday for a week and then I'm back for two weeks and then going away again! The flights and hotels are paid for for next week and so today I picked up some currency (pre-ordered) and got some toiletries to take. Then I have a credit card with no fees for spending abroad for most of our spending. The second trip is to New York to visit a friend. I bought the flights way back in January using Avios that I had saved and in the sale so the flights were pretty cheap. I'm staying with my friend so no accommodation to pay for but I will take her for a dinner to thank her. I have a regular saver account that finishes up this week so my plan is to use that for holiday spends and keep whatever is left to go into a new savings account.
    Other than that account, I have hardly any savings, which is not good. I have calculated that if I was to go on maternity leave for 9 months I would need just over £5000 to make up my pay. This seems huge and I know that the company I work with has a pretty generous mat pay scheme so I wonder how other people do it. I'm going to set up a savings account somewhere outside of my normal banks so that I don't see it and am not tempted to spend and try and build up as much of a savings buffer as I can.
    I did call into the T$B to close a couple of accounts as I seem to have little bits of money in a few different accounts, and also a couple of accounts with nothing in them including an ISA which I can't use as I use one with another bank. It's a bit confusing for my simple heed so I have closed the ISA and one other savings account. Then I can transfer my savings out to the mat fund account somewhere else and try and forget that I have that money.
    I did owe a lot of money to my sister after finished uni as she gave me a loan so that I could live! She was really relaxed about my paying it back but I hated having it hanging over me so paid her back as soon as I could. Need to find that discipline again to pay back my loan and get saving as I have become really lax and just buy things and book things without really thinking too much about it. Reading through other people's diaries though makes me think I really need to get paying and get saving as you never know what can happen!
    I have a whole load of stuff to photograph in preparation for putting it on eB*y after hols but I have sat down now and will have to find some energy to push myself to do it. I should think of the money!!! Maybe I'll read some more diaries for inspiration.
    Have a good rest of the day everyone!
    • Scott_Weiland
    • By Scott_Weiland 16th Sep 17, 4:05 PM
    • 549 Posts
    • 1,142 Thanks
    Scott_Weiland
    • #3
    • 16th Sep 17, 4:05 PM
    • #3
    • 16th Sep 17, 4:05 PM
    One step at a time

    Well done for having the bottle to post a hell of a lot dont have the bottle.

    Post as much as you can
    Debts 16274.64
    Cashback Earnings YTD £162.02 Survey Earnings YTD £485.18
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