DMP Mutual Support Thread (Part 5)

dlb

Morning everyone.

Hopetrmd...the extra money you will have due to the dmp not starting until April will be a fantstic start to a emergency fund, still only send small token payments to the creditors and put the other away, it will be useful for those unexpected things and also a cushion for you whilst you get used to the new budget, as it can take a while to get used to a brand new budget, and if you find yourself slighty short in the first month the emergency fund will be there to help you.

I started and still do now, keeping a spending diary..i list every last penny i spend down to a pack of sweets for the kids, car park fees ect, that way i can see where the pennys have gone which in turn shows me where the ££ have gone. It is suprising how much money you spend on the little things and you dont realise it. This diary helps me keep on track and highlights places where i could make savings.
I started doing this when i first went on the dmp to make sure i didnt overspend and it has just become an everyday part of life, i keep a small book in my bag and whenever i get time add things in, or just keep the recipits all day and add them at night.

Massivedebts..half term is always hard, even when you dont have these things to think about, but just spend some time with the kids having fun and enjoying them...that will make you feel better than any post on here could.

I plan on a free play day today with my tribe, it looks nice outside and no rain today, so we are going to pack a flask of tea, a pack of the tescos value biscuit barrel and head of to the local park, a nice long walk game of footy and feed the ducks, then on the way back im going to call at the local video shop and use a voucher i have for a free rental, so hopefully they will be worn out and just chill out this afternoon!! Yes ok i can dream!! lol but at least i will have tried!!lol:rotfl: :rotfl:

Have a good day all, and if the postman brings any suprises today...as you open them..SMILE...and remember no matter what is in there..we are all here to help.:D

Donna
xx

msc1977

HopeTRMD wrote: »

April seems ages away, I hope that my creditors will not get annoyed with the delay.. What do I do with the extra money that is going to be on my account as a result of no cc / loan payments going out…?
Should I be increasing my token payments…how much? Or leave as is?
Can I for the first time in donkey years put some money aside for the rainy days ahead…..can I really?

x

YES YES YES!!!! I totally support what dlb said about it being a good way to start an emergency fund.

Due to needing to wait for some statements to come through before i can send all my CCCS stuff off we will have done two months of token payments before our DMP starts and all the spare cash has gone into a savings account for emergencies with £50 going to a seperate account for car related things and a further £50 towards holiday spends (holiday already booked and paid for before DMP so i'm not cancelling) this will be the first holiday where we do everything cash...even down to our back up money!!! Thats going to be very strange!!!

msc1977

massivedebts wrote: »

Good morning all!

Welcome to all the newbies and thank you to all the oldies!:A

I can't believe how much posting has been going on, it's great isn't it. It seems to be all systems go for many of us fairly newbies, let's do it!!:j

I'll try not to think so much today, yesterday wasn't one of my better days, hence so many posts! I blame half-term, too much time at home to think!.....roll on Monday! LOL:rotfl:

Good luck to all of you

Keep the support going

MD xx

Hi MD

I hope you have a better day today, i'm sure you will.
I imagine its perfectly normal to have 'down' days but just think...before you started your DMP i bet there were alot more of them...there certainly were in our house!!!
Enjoy the rest of the H/T! xxxx

St0lli

Morning all!

Just wanted to echo what everyone else has said. For the first time in years I actually have £1,500 savings!!! Seems really odd but CCCS advised me to make token payments and due to me moving the date of my mortgage repayments from 1st of Month to 28th of month I find myself in this situation. All seems very surreal

It's funny but in the past I would be thinking 'oh I've got 1.5k, what can I do with that', now I'm thinking 'oh I've got 1.5k, how long until I can make it 2k?' :j

newlywed

I won a camera worth £350 - OH has already spent that in his head, 3 times over on my behalf - and it only arrived the other day!!!

He is encouraging me to sell it (which was my first thought, but then it arrived and I saw all the lovely buttons and it felt like a new toy).

I am tempted to sell it, pay my parents for the work currently being done on my car, and then tuck the rest away in a bank account and try and add to it.

This month I paid out £150 on tyres and that came out of my usual budget - not savings (they seem to be non existent ). I have proved that I can just about scrape by without that money this month, so I ought to be able to save £100 each month towards the next lot of car costs etc (MOT in May).

I seem to spend what I have, up to the limit most months, if I open a savings account that is a little harder to get to (no online banking etc) then I "should" be able to save each month.

I think I am going to sell it - after all I don't need a new hobby, can't afford any nice holidays for a while to go somewhere different to take pics, and already have a small compact camera. But OH will be disappointed when he realises I'll not spend the extra

louietudor

put my car in for mot yesterday and........IT PASSED :j:j:j:j

anyway where do you all keep your nest eggs - i have a little bit and keep it in a savings account - i just worry one day the account will be looked at and some of the creditors will screm ' you shoudl have use this to pay your debt blah blah blah

newlywed

They can't look at it if it isn't in one of their banks

Find a completely unrelated bank account

I'm planning on going for Barclays - would never bank with them normally but:

1. No related debt with them
2. They do a cash card savings account that ISN'T a link account - meaning you can only use it in a Barclay cash machine
3. No internet banking unless you open a current account with them.

That means:
1. I can't just transfer money easily (no online banking) and spend it
2. I can't easily get money out from any cash point I pass
But
3. If I do need it, there is a Barclays 10 minutes walk from work, or a bus ride into town from home - but I don't generally go in that direction so unlikely to walk past and randomly withdraw money

louietudor

newlywed wrote: »

They can't look at it if it isn't in one of their banks

Find a completely unrelated bank account
:

but can they tell the account exists and ask for statments??

newlywed

A savings account doesn't usually appear on your credit report does it?

So how can they tell it exists? Who says they are entitled to see statements? It's not the same as the government, tax man and benefit agencies who are entitled to that info

louietudor

newlywed wrote: »

A savings account doesn't usually appear on your credit report does it?

So how can they tell it exists? Who says they are entitled to see statements? It's not the same as the government, tax man and benefit agencies who are entitled to that info

many thanks - got meself in a tis and imagined me shoving cash under the mattress