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  • FIRST POST
    • Crikey123
    • By Crikey123 9th Nov 17, 11:17 AM
    • 27Posts
    • 77Thanks
    Crikey123
    Holy moly!!
    • #1
    • 9th Nov 17, 11:17 AM
    Holy moly!! 9th Nov 17 at 11:17 AM
    I've decided to start a diary. I started reading these forums a few months ago but never joined in, just used it to try and get some motivation. That didn't work, I'd tell myself I wanted to deal with my debts but would then see a nice dress or want a takeaway on a Friday night so the credit card would come out, but something has finally kicked my butt into gear.

    Basically I was a hair thread away from losing my job. The company I work for had some quite serious cashflow problems, so the Directors were considering closing down. Luckily they've decided to put some money into it to get through the short term issue and I know that with the cash injection, the company can work through this (I work in accounts so know that much at least).

    Anyway, this made me go into a blind panic because I have massive debts and no savings. I'm almost 40 now so am slightly ashamed that I'm still in this position, but no point in looking back is there. Time to look forward and plan ahead.

    I'll do my SOA later. I use YNAB, have used it for a few years after my friend introduced me to it. My problem is I do my budgets on YNAB, but then spend money & then adjust everything in YNAB after spending which means I end up having less money to pay towards my debts because I've spent the 'spare' money on other things instead. I have to stop doing this, start sticking to my budget. I do pay more than the minimum on all the cards and most of them are on 0% balance transfer deals, but I know I'll struggle to get any more deals so if any of these run out & start having interest added on that will be even tougher on the budget.

    My total debts are £26481.12! Honestly I have nothing to show for it. We've had some amazing holidays, our children have the latest gadgets, toys crammed in every corner of our house and we have wardrobes stuffed full of nice clothes, but I've realised that means nothing when my debts are so high.

    I'm determined to deal with this. I have a decent salary and regular overtime. My biggest fear is losing my job and having to rely on one wage. If I get rid of the debts that won't be a problem.

    So, here I go.
Page 3
    • ramblehan
    • By ramblehan 14th Feb 18, 4:36 PM
    • 496 Posts
    • 1,065 Thanks
    ramblehan
    I use YNAB, have used it for a few years after my friend introduced me to it. My problem is I do my budgets on YNAB, but then spend money & then adjust everything in YNAB after spending which means I end up having less money to pay towards my debts because I've spent the 'spare' money on other things instead. I have to stop doing this, start sticking to my budget.
    Originally posted by Crikey123
    This is SO my problem too. Subscribing. Looking to forward to following your journey xxx
    • Crikey123
    • By Crikey123 20th Feb 18, 2:31 PM
    • 27 Posts
    • 77 Thanks
    Crikey123
    Hi ramblehan, it's a nightmare isn't it. I am getting better though so hopefully debt busting is going to change my whole way of spending long term as well as short term. I definitely don't want to be back here in a few years having run up another load of debt!!

    I haven't put anything on ebay recently. I did get into a bit of a routine of putting a few things on every week but really didn't get chance last week. I will put a few things on there this week though. It might not seem much when things are only selling for a few pounds here & there, but I worked out earlier today that since October I have made around £450 on there minus postage & ebay fees. That has definitely kicked my butt into gear to make sure I find the time this week.

    My grocery spend has gone a bit crazy this month and I have gone a bit over my original budget that I had set, having to 'borrow' money from the money that I had allocated to pay off the credit card. I need to look at the receipts and work out why. I know I spent a bit extra because my daughter was having friends over last weekend and did do a stock up shop of things like washing powder, toilet roll, toiletries etc but it still seems to be really high even taking this into consideration. I'll have a look through my receipts tonight to work out where I have gone wrong

    I have had a no spend day today. I brought lunch to work with me and don't need to get any top up shopping so I'll go straight home, make dinner (already taken something out of the freezer) and relax. I made lunch for the next 3 days yesterday as well so that will stop me spending money on lunch for the rest of this week. The little £3 here & there add up!
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