Hypno's recession busting debt diary.....

hypno06

El, I think it is because I have things in "sections"

• bills and debts still to come out (1)
• balances in current accounts (2)
• balance in the "overpay account" - extras from MSE type stuff (3)
• money expected in the account before payday (4)
• emergency money - only to be used in emergencies as a last resort (5)

So.....then I do (2) less (1) to see if I am in basic credit or debit with our salaries v bills and debts still to pay.

Then if I am in credit, anything in (3) can reasonably be used to make an overpayment, as can anything that comes in from (4).

If we are in debit from (2) less (1), then I need to see if there is enough in (3) in to make up the shortfall.

If not enough in (3) then I know I need to chase up (4) or make more money for (4) to close the gap.

I don't want to touch (5) for what little there is as I am trying to save up for emergency funds, so seeing it there reminds me that it is there in case of real difficulty but is a last resort to use it.

I have a page per day in the diary so I update every day except Sunday because my online banking doesn't update on Sundays so no point in looking!

It just all seems to be focusing my mind somewhat to see what really is still to pay, and what the real situation is because it is all on one page in black and white.

I am sure to others it looks too daft or too simplistic to make a difference - I used to have it all on a spreadsheet but never got into the habit of updating it so lost interest! This is easy because it is just paper and pen!

elantan

simplistic is deff the way to go ...i look at my accounts every day to se what is coming out etc but have never thought about doing it that way i have to often sit down and figure out what ddm is due to come out and how much i will have left and it takes me a while by the time ive done it all ...updating every day though (rather than just looking) might be the way to go ...thanks

taxi73

I completely see your point in doing this as I have a really simple solution to mine.I have all DDS etc written in my book and work out what I need for the week ahead so that I always have enough in the bank.Sometimes it means working longer hours but at least it keeps me in credit.I check them against the online balances every day.

hypno06

to help, I have a list of monthly payments in the front of the diary.

I have them going in date order, but also have a column at the end which basically shows how much there is still to pay eg

1st Month gas and electric £106.00 £1300.10
life assurance £36.29 £1194.10
(etc for those coming out on 1st month)
4th landline £21.00 £1068.82
5th car costs £50.00 £1047.82
etc
etc
etc
10th broadband £9.99 £255.50

but the list is complete for all the payments

so for example, at a glance I know that on 10th of the month, I have still got £255.50 in payments still to make before payday. If I have got £255.50 in the bank account, then all fine. If not I have to look at whether I have enough in the overpay to transfer over to cover it......and if not I have to look at whether paypal, mystery shopping etc is going to pay me before the 10th.

If I could get columns to work properly on here I would do the full list properly, because the abridged version above just looks crap!!

Seaxwyn

Hi Hypno, I have basically the same system but on a spreadsheet and I too update it every day. It really does help and I've managed to avoid going overdrawn on one of my current accounts for 20 months now, which I'm very proud of. I could never have set the spreadsheet up, I got it from a fellow DFW-er when I first joined and it suits me perfectly.

Keeping_Motivated

Hi going back to thte Tesco and Quidco talk. For those who haven't already done it if you sign up to MySupermarket through Quidco and do a Tesco shop by using MySupermarket (which is easy to do) then you get £4 through Quidco. You can still use any codes for Tesco as normal because once you have done your shop then MS send your order through to MrT and then you check out as normal.

Also you can sign up to ipoints through MySupermarket and earn ipoints for every food shop you do via MySupermarket. Hope that makes sense.

hypno06

Seaxwyn, I have tried on the spreadsheet and go through phases of doing it, but I kept forgetting to update it. I think the main problem is that it is on my laptop at home, so when I am at work I can't update, or amend it at lunchtime or whatever, whereas my diary goes everywhere with me and is accessible all the time!

KM, I will look at the supermarket stuff this week - I will be ordering later in the week and any extra points of any sort are always going to be welcome!!

Savvy_sewing

Hi, just popped on to see how everyone is doing. I used quidco this morning to insure my car, so I hope to get £75 cashback eventually. Had to use my parents account as my Electron was not accepted by insurance company. Its such a nuisance. Noticed that someone on here said that Asda accepts electron. I wonder if they will deliver to me. Must go and check. I used to use mysupermarket for my Mr T and get the Ipoints. But I havent checked my ipoints for a while. Not been on top of anything since the robbery!. Must get my act together. Also need to get my act together and do some ironing its a hugh mountain.

hypno06

Well, my mountain of ironing is gradually getting smaller - I have done loads, but still have loads to do....mainly because urm, well I have just been too lazy for too long :rotfl:

My washbin is overflowing too, (well it was until I squished it down with all my might so I could close the lid) so i think I will be undertaking a small laundry challenge in my week off......by the end of the week I want everything washed, dried and put away with no ironing pile or batches of washing remaining.........what are the chances (ok, perhaps you had better not go and ask the bookies for best odds.....!)

I have also made a start in the kitchen, have cleaned the cloakroom, swept the floor in the en-suite (how can such a room get so much dust!) and hung up some stuff in the bedroom.

Notice how I have done a little bit everywhere, but don't ever actually complete one room properly No wonder I never feel as though there is any improvement!!!

Karmacat

hypno06 wrote: »

Well, my mountain of ironing is gradually getting smaller - I have done loads, but still have loads to do....mainly because urm, well I have just been too lazy for too long :rotfl:

I ironed a piece of clothing on Wednesday!

My washbin is overflowing too, (well it was until I squished it down with all my might so I could close the lid) ....

Oh I do that! With the rubbish bin too!

I have also made a start in the kitchen, have cleaned the cloakroom, swept the floor in the en-suite (how can such a room get so much dust!) and hung up some stuff in the bedroom.

My kitchen looks really different! I *still* haven't washed the floor, but all the surfaces have been cleaned, all the washing up has been done (tho more has been created - e.g. a tray that *never* got cleaned), plants are all watered and clipped, stuff on the floor that was supposed to be chucked out has been chucked, and the floor has been well swept. Now I need to clean the sink again (cos I mopped the floor in the hall and part of the living room) and do the *new* washing up.

Notice how I have done a little bit everywhere, but don't ever actually complete one room properly No wonder I never feel as though there is any improvement!!!

Very very. I do that all the time, I'm shocked at the amount of work I've managed to do in the kitchen today! :rotfl: