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  • FIRST POST
    • Regency1
    • By Regency1 15th Sep 17, 3:56 PM
    • 6Posts
    • 19Thanks
    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
    • 6 Posts
    • 19 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
    • 616 Posts
    • 1,500 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 15981.64 total paid 2078
    Cashback Earnings YTD £166.90 Survey Earnings YTD £535.12
    • Regency1
    • By Regency1 28th Sep 17, 3:51 PM
    • 6 Posts
    • 19 Thanks
    Regency1
    • #4
    • 28th Sep 17, 3:51 PM
    • #4
    • 28th Sep 17, 3:51 PM
    I am back from holiday number one and we spent way more than I thought we would! But we had a great time and got to see a friend who has moved back to her home country so it was definitely worth it. I always knew that September and October were going to be expensive because of the holidays and things going on.

    My regular saver finished at the end of September so that money has been allocated to paying my half of the credit card bill for the holiday and will also see to my spending money for my trip to NYC in a couple of weeks. So the holidays are covered which makes me feel a bit less extravagant! Anything left over will go into a new account that I have set up to act as a mat fund for the future. Scary stuff!

    I have been thinking a lot about my money and where it goes. I know that I waste loads so I am really trying to think about what I spend and stop myself buying things just because they are in the sale. If I don't need them then they are NOT a bargain!

    I have opened a new regular saver to replace the one that has just finished and that will go towards a mat leave fund. Then I also have a regular saver with another bank that I am saving less into which will go towards any holiday spending that might occur next year. And then once I have paid off my JL credit card I am going to keep it and spend on it but get into the habit of paying off the money straight away. I have to get a grip on how much I am spending so that I can budget properly. At the moment I just assume that I'll cover the spending some way but that doesn't really work with saving

    I will probably be back soon to write out my plan (once I have it) as I don't really know where else to write it down so that I stick to it!
    • Regency1
    • By Regency1 2nd Nov 17, 2:16 PM
    • 6 Posts
    • 19 Thanks
    Regency1
    • #5
    • 2nd Nov 17, 2:16 PM
    • #5
    • 2nd Nov 17, 2:16 PM
    So now I am back from all my gallivanting and back into work and more of a routine so I have also been trying to take stock of the money situation.

    I spent more than I meant to in NYC but I have it covered by the money I saved last year and I saw it as an opportunity to visit a friend as well as seeing a great city and that kind of combination doesn't come up too often! So I'm getting over it and moving on. At least I didn't have to add any more debt to my name.

    I sat and worked on my spreadsheet the other day and according to my calculations I am going to find December pretty tight and that's before Christmas presents. So I am going to have to think carefully about the money I spend. I have quite a few things planned for the next couple of months so I'm going to have to try and plan better than I usually do. I'm not really a party animal but when I'm out I do like to have a good time and I tend to get increasingly generous as the night and drinks wear on!

    This weekend we're going down to London to meet some friends which was initially going to be dinner and drinks and then staying at theirs. But then they announced that they are getting ready to start IVF treatment so they are trying to be healthy so now it's going to be lunch and then back to theirs for some easy dinner and films. Suits me fine as it should be cheaper and I'm also thinking I should be chilling out a bit with the drinking (I may have overdone it in NYC!). Other than that we will just need to get some food in but that comes out of our joint bills account so has no bearing on my available money. I'm going to the dentist tomorrow and need to ask about a suspected cracked tooth. Hope it won't be too expensive but I have a work dental cover thing so hoping that will cover anything that might need doing. Other than that it should be a NSD.

    I am going to try and update this diary more often and see if I can become a bit more accountable for my money. I think it will help me think about my spending habits and hopefully encourage me to spend less and really get on top of this loan.

    Onwards and upwards!!!
    • Regency1
    • By Regency1 7th Nov 17, 1:38 PM
    • 6 Posts
    • 19 Thanks
    Regency1
    • #6
    • 7th Nov 17, 1:38 PM
    • #6
    • 7th Nov 17, 1:38 PM
    Hmmm, updating more often is not happening as often as I thought it would. I think the problem is that I log in and just spend my time reading other people's diaries and forget to update my own!

    Also, I have suddenly realised that I have much less money than I thought I did and that Christmas is going to come at a terrible time!

    Didn't spend too much over the weekend, I think all I bought was a round of drinks for the four of us for about £14. We stayed over at our friends' and then went for a lovely walk on the Sunday as the weather was good. Then just got the train home and flopped on the sofa to watch TV.

    I think that yesterday was a NSD and today will be too. But tomorrow I'm off work in the afternoon to go into London to see a band with DH. We're going to eat in town and as he bought dinner on Sat I probably should tomo! I've offered to drive us back from the train station so will only have one drink. Then I should be able to NSD it up for the rest of the week until Saturday.

    I have huge piles of clothes all over the spare room at the moment. One pile is for ironing - I never seem to get on top of that! One pile is for sending to the charity shop - I always forget to take it with me when I go into town! and One pile is for putting on Eb*y, which I cannot be bothered sorting out! However, this weekend I have nothing planned except a haircut on Sat afternoon so I will aim to take the charity shop clothes with me and then spend a couple of hours sorting and posting stuff up for sale. This will hopefully make me a bit of money and also clear the room so that I don't feel in such a mess when I go into that room! I can definitely see where lots of my money has gone. I'm not even particularly well-dressed as a result!

    Oh well, I'm sure I'll sort myself out eventually. In the mean time I will continue to get lots of inspiration from lurking on here!
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