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  • FIRST POST
    • lonelyrat
    • By lonelyrat 18th Oct 17, 7:48 PM
    • 24Posts
    • 64Thanks
    lonelyrat
    LonelyRat's (not so lonely) Road to Riches
    • #1
    • 18th Oct 17, 7:48 PM
    LonelyRat's (not so lonely) Road to Riches 18th Oct 17 at 7:48 PM
    Hello everyone I have been posting sporadically for a few months now over on the general Debt Free Wannabe board but have decided what Iím wanting to do seems more like a Debt Free DiaryÖ so here I am!

    I originally began trying to tackle my situation in June with just under £7,500 of debt and no clue what to do about it. I made a basic, confused, sort of plan to get cracking. I managed to make a tiny dent but wasnít doing particularly much and still felt completely overwhelmed. One night, after a few (read: many) wines, a desperate internet search for ďhelp, debt!Ē brought me here. I began reading through other peopleís threads and started to get a better idea of what I should be doing (hello snowballing - how had I not heard of you?!). In August I got the balls together to post my first thread. I got some good advice, began to feel more motivated and focused and, above all, started to feel like there was light at the end of the tunnel

    There are a number of reasons why I want to start this diary. Most importantly I feel like it will help me be more accountable for my actions. Iíve made a series of poor decisions which have led me to the money mess Iím in now. I need to unlearn bad habits and by writing everything down and checking in a few times a week Iím hoping to start reprogramming myself. I also like the sense of camaraderie thatís present on these boards. People generally really do care and want to help which is lovely. I am very much a lurker at present but I want to contribute more and if my muddled, messy journey can inspire anyone to start tackling their own debt monster than thatís damn brilliant.

    Some general info about me and my life:
    I have just turned 27 *shudder* and am partnered up with Mr. LonelyRat. We have been together a few years and live together with his parents in Bonny Scotland. This is a recent change as of a few months ago as we used to rent a flat together but really couldnít afford it. Weíve moved in with his parents to reduce outgoings and get this debt busted so we can start saving towards a deposit (something that seemed completely unattainable even just a few months ago). I work in a dead end customer service role at a bank and he is a student who is currently in his last year of study (hallelujah)!

    Hobbies for me mostly used to include drinking wine however this has recently changed as well as Iím going sober for October - something I thought would not be manageable but somehow is actually going OK. Iím planning on stretching this over November as well and ideally just keeping going for the foreseeable future. I noticed there was a reducing/ giving up booze thread so I plan on trying to get involved in that as well at some point soon. Cutting out the wine is having a positive effect on my spending and my mental health as well. Now if only I could start cutting down the junk food as well!

    I got paid yesterday so money has been allocated to where it needs to go and here are my most up to date balances:

    Current Debt / Debt at first DFW post

    Overdraft 1 £950 / £1950
    Overdraft 2 £83 / £450 (this was at £0 however there has been a setback. Next month - next month!)
    Loan £472.29 / £770
    Santander CC £2744.45 / £2770.90
    Very BNPL £263.98 / £288.98
    Capital One (1) £0 / £404.25
    Capital One (2) £0 / £179
    Barclaycard £0 / £390

    Total Debt £4513.72 / 7203.13

    - OD 1 is my student overdraft which Iíve somehow not managed to pay off yet. Itís charging works as such: Overdrawn £1000 - £2000 is charged at 9.9%, £0 - £1000 is free. In December the whole lot will change to being 19.9% with an OD usage fee of £6.00. The plan is currently to chuck all my debt money at this to reduce it by December.

    - OD 2 is 19.89% - it had been all paid off this month but there was a bit of drama/ a set back and I had to use it to pay for something. It has taught me the importance of an emergency fund and this is now being budgeted for going forward. Mr. LonelyRat has said he will give me the £83.00 next time he gets a student loan payment which is very nice of him.

    - The loan is something I try not to think about. Classic debt consolidation gone wrongÖ Never again! It doesn't allow over payments so I pay £102.81 a month and try just to forget about it.

    - The Santander CC is interest free until September next year so is currently receiving a £25 payment plus £89.50 for my monthly rail ticket - doing this means I get enough cashback to cover the monthly fee. Iím quite happy keeping that ticking along until I manage to get everything else sorted.

    - The Very is BNPL until May next year. I have a note of the date and it will be paid by December/ January anyway but I am currently wrestling with just paying it off using whatís available in one of the Overdrafts or waiting. I did have a wobble last month where (even though Iíd vowed not to use it) I bought some work clothes. I came to my senses and sent them back but it was far too easy to do. If I donít pay it back using the OD cash this month I may reduce the limit on it as itís £750 and it could present a challenge I donít really need if things get tight.

    Aims for this month
    1. Get serious about tracking my spending. I have planned this every month since August but it always gets about a week in and I give in. NOT THIS MONTH. I will complete a full month (warts and all) and fill in an SOA to post here. Iím managing to make headway with the debt because I donít have rent/ council tax/ utilities to pay as such anymore but I still have underlying issues with overspending and these need to be addressed if I plan on making meaningful changes going forward.
    2. Start walking more! I treated myself last month to some new gym leggings and trainers in an attempt to motivate myself to start exercising however that has not happened *sigh* This will be the month though! Iím hoping this, in conjunction with tracking my spends, will help me shift a wee bit of weight.
    3. Check in here at least twice a week. Even if I have nothing meaningful to report I still want to post updates.
    4. Ensure OD 1 does not go over £1000 overdrawn to ensure I no longer pay interest on it.

    Having just mentioned I want to post frequently I do have to mention I managed to wrangle a 4 day weekend at work so am off down south of the border this weekend to visit my dad in Surrey. Likely I will be off the grid as a result but will post an update on spends when I return! Pretty terrified of flying but it costs 50% less than the train so it was a no brainer. This will be a test to my sobriety as well I feel as my usual recourse for flying would be a wee wine to take the edge offÖ Wish me luck!

    Thatís enough of a ramble for now - I promise future posts will be less lengthy

    If anyone is interested in my short journey so far it can be found here: http://forums.moneysavingexpert.com/showthread.php?t=5690629#topofpage
    Last edited by lonelyrat; 18-10-2017 at 7:54 PM. Reason: Edited to add in hyperlink
    Total Debt 3841.70 / 7203.13
    Outstanding: Overdraft 1 500/ 1950 - Santander CC 1995.50 / 2770.90 - Loan 382.22/ 770 - Virgin CC 700/ 700 Very BNPL 263.98/ 288.98
    Busted: Capital One (1) 0/ 404.25 - Capital One (2) 0/ 179 - Barclaycard 0/ 390 - Overdraft 2 0/ 450
Page 2
    • lonelyrat
    • By lonelyrat 24th Nov 17, 10:07 PM
    • 24 Posts
    • 64 Thanks
    lonelyrat
    I'd really love a holiday so maybe that's something I can aim towards... Be debt free by summer and get a cheeky autumnal weekend away?! Or maybe I'm being too optimistic? A girl can dream though!
    Total Debt 3841.70 / 7203.13
    Outstanding: Overdraft 1 500/ 1950 - Santander CC 1995.50 / 2770.90 - Loan 382.22/ 770 - Virgin CC 700/ 700 Very BNPL 263.98/ 288.98
    Busted: Capital One (1) 0/ 404.25 - Capital One (2) 0/ 179 - Barclaycard 0/ 390 - Overdraft 2 0/ 450
    • lonelyrat
    • By lonelyrat 29th Nov 17, 9:35 PM
    • 24 Posts
    • 64 Thanks
    lonelyrat
    New bed has arrived and I am in heaven! I never want to leave (but in a good way for once)! It's firm and wonderful and our new duvet we got is lovely and cosy. Got some cheap candles from Tesco and the new room looks very inviting Also I noticed walking from the train station to work today that my back didn't hurt and I can't remember the last time it didn't! Best (early) Christmas present ever!

    Balances are unchanged. Sorted my Christmas gift for OH now though which feels good. Available balance for spends is dwindling so fingers crossed for no unexpected costs until payday on the 18th. Not likely considering my recent track record!

    Shifts for Christmas got posted today and I'm off the 25th, 26th AND 27th which is really very lucky. There has been communication about potentially having to work boxing day though as the company didn't have enough volunteers for it *eek* ideally I don't get scheduled in. Technically shifts shouldn't change when posted, but it's happened to me before.

    I've got £50 pending on pay pal from a sale I made on eBay so waiting for that to clear and I'll have about £160 coming in from my OH when he gets his student loan as I've subbed him some this month so that's going straight to OD1.

    Virgin card arrived - requested the balance transfer from the Santander CC and then me and OH had a ceremonial card cutting. We recently cut up his CC's and my cards for the current accounts with the Overdrafts so we have a fairly large pile of coloured plastic lying around. It would make a good mural.

    OH has recently got on board more with the debt busting he's been keen to help me as much as possible but hasn't considered his own debt situation so much. I've created a sheet for him on my Excel document and i'm going to help him try and get organised. He very much buries his head in the sand with money things and if he doesn't understand something he just ignores it. Not ideal but together we will bust his debt too! Thankfully his is A LOT smaller than mine - £1200 . I snowballed him and we have a solid plan of action. This is helping me to feel more positive as well. Obviously I want to clear my own debt, but I also want us to move forward together debt free and him taking more of an active interest in sorting everything else out makes the future seem brighter

    Nothing much else to report. Plodding along... always plodding along!
    Total Debt 3841.70 / 7203.13
    Outstanding: Overdraft 1 500/ 1950 - Santander CC 1995.50 / 2770.90 - Loan 382.22/ 770 - Virgin CC 700/ 700 Very BNPL 263.98/ 288.98
    Busted: Capital One (1) 0/ 404.25 - Capital One (2) 0/ 179 - Barclaycard 0/ 390 - Overdraft 2 0/ 450
    • 117pauline
    • By 117pauline 6th Dec 17, 8:00 PM
    • 464 Posts
    • 5,676 Thanks
    117pauline
    Hi lonely rat

    Sorry I haven't popped in recently but glad to hear your OH is now on board and even better to get the time off over Christmas.

    You don't realise just how bad a mattress is until you get a new one.
    Hope the Christmas plans are going well
    Take care
    Pauline

    My birds and squirrel are outside friends. They give pleasure every day
    Don't get it perfect - Get it going
    Better Than Before
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