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  • FIRST POST
    • FiscalPickle
    • By FiscalPickle 4th Dec 17, 5:38 PM
    • 64Posts
    • 126Thanks
    FiscalPickle
    Time to turn this around
    • #1
    • 4th Dec 17, 5:38 PM
    Time to turn this around 4th Dec 17 at 5:38 PM
    I had my lightbulb moment recently. Despite the fact I have a good job in an industry that means I should know better, I've got myself into a bit of a pickle. The goal for the next 2 years will be getting out of debt, out of the consolidation trap and into a good position re savings. The 2 years after that will be aimed at saving for a house deposit. My debts are:-

    HSBC loan £7872.48
    Virgin credit card £4019.39
    MBNA credit card £2825
    Car loan £5011
    Tax bill £139

    Grand total of £21,266.47 - I realise this doesn't add up please see post dated 18/12/17 for explanation!

    Once Christmas is out of the way and I've paid the tax bill, which is due at the end of the year, I've worked out a budget as follows:-

    Rent, household bills, food 1060
    HSBC loan 238.56
    MBNA CC 75
    Virgin CC 400
    Car 94.89
    Car ins 29.08
    Car service & repairs 50
    Contact lens scheme 26
    Entertainment 50
    Christmas & birthdays 80
    Clothes/shoes 50
    Hair 40
    Holiday fund 60
    Emergency fund 50

    This comes to £2303.53, my nett wage is £2,305. I'm throwing all I can at the Virgin balance until I've paid the spending part off, £1200 of this is on 0% until November. Then I'll concentrate on the MBNA, then the HSBC loan. Then I'll reevaluate. The HSBC loan is 7% APR, I'm halfway through paying that so most of the interest has probably been paid. I've set up the piggy accounts for car maintenance, holidays and emergencies. I've been in the habit of saving for Christmas and birthdays all year for some time now. Here goes!
    Last edited by FiscalPickle; 18-12-2017 at 4:58 PM. Reason: Amending total debt figure
Page 3
    • Drawingaline
    • By Drawingaline 19th Dec 17, 2:44 PM
    • 235 Posts
    • 936 Thanks
    Drawingaline
    You know what, I think that is a reasonable amount tbh. I think you have mad a good job of recognising where it was going wrong and scaling back.
    • FiscalPickle
    • By FiscalPickle 21st Dec 17, 11:14 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    A very busy few days, Iím now done with work until Wednesday. Monday, Tuesday and Wednesday were NSDs, v happy with that. Today I had my hair done, went without a proper blow dry saving a tenner. I had my lashes tinted as well for £9, Iíve tried the stuff you buy in Boots but itís totally rubbish. It leaves my eyelashes as see through and blonde as if I hadnít bothered, only the salon strength formulas seem to take.

    Got my works Christmas do tomorrow, that was paid for in October so just need a little spending money for the bar. I need to be careful, Iím a total lightweight and Iíve only worked there a few months. In my last job I had too much wine at an office party when I was still new, I stood up to leave and fell sideways into a cupboard! The shame
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 28th Dec 17, 2:29 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    Week 4
    Well, back to normal after a quiet and uneventful Christmas. I spent the day laid up with bronchitis and am only just starting to feel remotely human now. I find myself questioning the amount spent on the whole circus, with 4 weeks until payday and a very tight budget until then.

    However, the good news is that I've chipped £676.71 off the debt total since I last totted it up, it now stands at

    £20,549.76

    This means that this time next month I'll have broken underneath the £20k barrier, which is motivating and will keep me on the straight and narrow for the rest of this month. I also have a £75 DD due off the MBNA debt before payday.

    My hair growing has begun in earnest, however I picked a bad week to try the inversion method as I had a trim on the Thursday. There was no discernible change in length, however I have noticed new baby hairs around my hairline so I think it may have had a thickening effect. I don't have a hairdresser appointment until the end of February now, to give the length a bit of a chance to grow. I'm also going to attempt to grow the colour out, I hope this won't drive me too mad.

    I also now have an emergency fund, it only has £50 in it but that is a start. I actually feel quite vulnerable with it being so small, I look forward to it growing into a more comfortable cushion. I think once I'm debt free the aim will be to have 2 months salary in there, I'd like to build it up to 1 months salary whilst I'm climbing Debt Mountain.
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 29th Dec 17, 5:56 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    Today was supposed to be a NSD, but I had to get tissues and more cold relief tablets on my way to work - total spend £2.98. This cold seems to be lingering, but at least my chest isn't sore any more. Hopefully I will have stopped oozing mucus in time to celebrate NYE, which in true MSE fashion will be at a house party bringing alcohol and soft drinks that are already at home. Fingers crossed!
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 30th Dec 17, 1:20 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    Well this virus is the Christmas gift that keeps giving! I’m expelling more mucus than I knew a body could hold. Having a soak in a hot bath to help encourage this thing to kindly bog off.

    Signed up for TopCashBack, it’ll be interesting to see how much I can net from that over 2018.
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 1st Jan 18, 10:13 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    Week 5
    Happy 2018 fellow debtbusters, I can now say I will be debt free next year, yippee!

    Looking forward to a frugal, sensible and fiscally responsible year of chipping away at Debt Mountain. The 100 Day No Alcohol Challenge begins now, 11 April feels like a very long way off!
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 2nd Jan 18, 12:02 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    As far as spending planned for today goes it is a food shop for 10 days, I need to go to the supermarket and the butcher. I'll be happy if that is under £80, as that includes a lot of food to batch cook and do lunch prep for work.

    We need a mug or glass or similar to store our toothbrushes in, I'm thinking either charity shop or TK Maxx. I also wanted to go to the library but they are closed today, instead once the weather has cleared I'll put some steps on my Christmas FitBit, very happy with that as it will motivate me to get up and move more.

    Other plans for today are:-

    1. Contact lens check at optician - already paid for through lens scheme
    2. De-clutter and de-Christmas house
    3. Washing - the towels are in already
    4. Iron work clothes ready for the week ahead, probably for next week as well
    5. Food & lunch prep
    6. Book check up and boosters for Cat3 at vet - for after January payday!
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • Drawingaline
    • By Drawingaline 2nd Jan 18, 8:24 PM
    • 235 Posts
    • 936 Thanks
    Drawingaline
    Glad you had a good Xmas and hope you are feeling better. We have been so lucky over the festive season, I go back to work tomorrow and seem to have finally succumbed to this virus! I am self employed and after a week off I HAVE to work!

    Re the tooth mug, I got ours in asda £1.
    • FiscalPickle
    • By FiscalPickle 2nd Jan 18, 9:49 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    Glad you had a good Xmas and hope you are feeling better. We have been so lucky over the festive season, I go back to work tomorrow and seem to have finally succumbed to this virus! I am self employed and after a week off I HAVE to work!

    Re the tooth mug, I got ours in asda £1.
    Originally posted by Drawingaline
    Sorry to hear youíve caught the virus, fingers crossed it bogs off soon!
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 3rd Jan 18, 5:38 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    First working day of the year and a NSD, I think that I can make this the norm for most working days providing I remember to bring lunch and a snack. I've also been for a walk over lunch and put some steps on the FitBit, this one buzzes when I've been sitting for a while as a reminder to move. I think this will help me as I can get engrossed in what I'm doing and stiffen up from sitting for too long.

    661 days to go until debt freedom next year, in April the joint loan will be paid and in October I will get a decent pay rise so this time next year Rodney, we may not be millionaires but financially things will be a little easier and there will be light at the end of the tunnel. All CC debt is due to be gone by 26/01/19, however I might be able to squeeze that forward a month by carrying on eBaying. I've got my eye on a few bits around the house to put up for auction this weekend, I love decluttering and debt busting at the same time
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • Drawingaline
    • By Drawingaline 4th Jan 18, 9:38 PM
    • 235 Posts
    • 936 Thanks
    Drawingaline
    I don't have the patience for eBay. Shame really as I have used it in the past and made a bit from it. Good luck!
    • FiscalPickle
    • By FiscalPickle 6th Jan 18, 1:40 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    The next 3 weekends are planned as No Spend Weekends, with the exception of any food shopping that needs doing. Any activities and entertainment need to be free or already budgeted for, things like going for walks and Netflix.

    The house is looking great, all decluttered after Christmas, it just needs a once over this weekend. The sun is shining although its very cold, once my FitBit has charged I'm going to wrap out and go and put some steps on it. Then it's home to curl up with a hot chocolate, films and the cats. I'm also going to do a bit on a craft project which I can hopefully turn into a friend's birthday present, I have all I need to make it already. That will certainly be more economical than another £30 on perfume or similar in Boots.
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 8th Jan 18, 5:38 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    Week 6
    Successful zero spend weekend, I think that is a first for me

    656 days to go until Debt Freedom, I think (I hope!) once I'm at the end of paying it off saving will be a breeze, I'll set up a DD for nearly the same amount and I won't miss it because I haven't ever really had it. Once I am DF I'm going to allow myself a little more spends on entertainment and holidays so it doesn't become too monotonous.

    I am feeling tempted by joining Weight Watchers, but i's £21.45 a month. I would need to go for at least a year as losing weight sustainably takes me ages. Not sure if I can justify it, but the health benefits would be great and it would be nice to have something to distract me from the slog of debt-busting. Also, more incentives not to have takeaway can't be a bad thing. Hmm, one to ponder....
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 10th Jan 18, 5:19 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    I've worked out that once the final 2 DDs have come out of my account, I have £1.18 left in my bank account and about £5 in change in my purse. Burger. Pay day in 15 days.

    There is still enough in the joint account for food so we won't starve, however debt-busting is feeling quite bleak and lonely at the moment. I suspect it's the time of year.
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 11th Jan 18, 4:16 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    0% MBNA coming to an end
    I've got a sum of £1174 that is due to start accruing interest in April 2018. The rest of the balance will be paid before the 0% runs out. I rang MBNA to ask what earliest date I can make a balance transfer to pay the interest-accruing part of the balance, they said 21/04/18.

    I've noticed that the 0% options are becoming very limited for where I live, I'm in one of the Crown Dependencies and some lenders have stopped offering CCs here due to difficulties with debt recovery.

    I think (I hope!) I'll be able to get a 0% deal with HSBC for 32 months with the £25 cashback deal, which will more than cover the transfer fee. However I can't apply yet, as the current deal with a 90 day window will run out before 21st April. I'm hoping the deal will be extended, if not I'll have to find another lender that will cover where I live
    Last edited by FiscalPickle; 12-01-2018 at 2:05 PM.
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 12th Jan 18, 2:11 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    Another zero spend weekend planned, going for walks, Netflix and housework. I usually buy at least one thing in the January sales, however this year they are either full of tat or I'm much more mindful about what is really a bargain. It's still miserable having no money to treat myself though. I might use any change left in my purse at the end of the month to buy a nail varnish I would like.

    I've decided to bite the bullet with Weight Watchers and take the £21 from the entertainment pot. I'm sick of feeling like a beached whale, and a skint beached whale at that :-(
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 12th Jan 18, 5:03 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    I have 4 auctions on eBay due to end at the weekend, providing I've done the postage calculations correctly that will be an extra £20 minimum to send to the Virgin CC. I like to keep a little buffer in the PayPal account for when eBay take the fees and in case I'm near my overdraft, which I don't want to be in ever again. I suppose it's almost like a small emergency fund for now. I'll then be scouring the house for more eBay fodder, I've got my eye on a bag and pair of boots that I haven't used for ages.
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 14th Jan 18, 11:02 AM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    It's chucking it down again, contemplating going for a walk as I do have a waterproof jacket. I could always treat myself with a soak in the bath with some nice bubbles when I get home. Have to do a food shop today so will get that out of the way first, once I've done the meal planner for the week. I'm going to do some comparisons with how much we were spending on food shopping before doing a structured meal plan, I have a feeling it will be a lot less. There are top-up shops here and there, but these are to places like the butcher for items needed for the meal plan. We've decided to switch from supermarket meat to using the local butcher, it is slightly cheaper and much better quality/quantity.
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 14th Jan 18, 12:27 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    Meal plan and food shop done, I've bought some Weight Watchers friendly foods to get me started this week. my first weigh in will be on Tuesday.
    There are portions of curried butternut squash soup in the freezer, along with cauliflower rice, sausage casserole and other things made during the week so we have plenty of nourishing food in.

    Still debating about the walk. I've been thinking more about eBay and if I should put my wedding dress up for sale. Reasons to:-

    1. I'm never going to wear it again
    2. It's sitting on top of the wardrobe and could make a dent in Debt Mountain
    3. It's Pronovias, so a popular bridal designer

    Reasons not to:-
    1. My parents bought it and I got married in it, so sentimental value
    2. It's been considerably altered for my shortness, which may decrease the value
    3. It's pretty and I love it.... argh feeling quite torn!
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
    • FiscalPickle
    • By FiscalPickle 15th Jan 18, 9:09 PM
    • 64 Posts
    • 126 Thanks
    FiscalPickle
    Week 7
    Iím not feeling the love for debt busting or anything else at the moment, think I well and truly have the January blues. Such sad news about Dolores OíRiordan, I loved listening to the Cranberries when I was growing up. It just shows how short life can be. Why canít someone in the public eye who is a right !!!! cark it instead?

    Not much to report on the MSE front, DFD is still light years away.
    DFD - 26/10/19
    In the process of shedding £20k and 35lbs
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