My magical debt diary!

daily_2

It is so you can budget/plan ahead.

Document the situation today, and then calculate what it will be next month and next year if you earn xx, and pay off yy, on debt zz.

It will also help you work out the true cost of that bargain £16 blouse, if you don't sort out the storecard debt.

In 1 year it will have cost £16.17 * 1.299, in 30 years, £53,000

If you maintain a £510 balance on storecards for 29 years, it will cost you over £1 million in interest - which is why storecards should be avoided at all costs.

daily_2

littlepinkstars44 wrote: »

yes, cause my online banking that morning told me that my available balance was £50

You spent £76.17 because you had outstanding pos transactions.

Do you understand how to do the sums in the spreadsheet, like the example earlier?

Flower08

daily wrote: »

6 Jul 2009 POS4037 02JUL09 0000 , CRYSTAL PALACE. -5.10 -£50.20
6 Jul 2009 POS4037 02JUL09 1639 , PRIMARK , -16.17 -£66.37
6 Jul 2009 POS4037 04JUL09 0000 , KEY STORE -4.90 -£71.27
6 Jul 2009 C/LCASHLINE 04JUL -50.00 -£121.27

Without meaning to preech or be nosey, but were all these transactions really neccessary. I dont know what the crystal palace and key store places are but i cant imagine the £16.17 spent in primark was essential.
You have spent £26.17 in one day here which would have been better put towards your debts, especially when your on such a low income.

I agree with daily though you did need to keep more track of what money you have spent, you cant soley rely on internet banking to tell you as some transactions will still be pending. If you dont keep track you will continue to get these charges. You need to read your terms and conditions to see exactly how much these are.

littlepinkstars44

No sorry i don't know how to do sums in the spreadsheet

littlepinkstars44

Today was pretty good. Walked to and from work.
Was working 3:30-8:30, i really hate the checkouts!

So havent spent any money today

littlepinkstars44

Had a nice long lie in! (Got up at 1pm...ooops)

And i'm still sitting here in my bed....gonna go and make some toast and get a shower in a minute.

Lots to do today, i need go down to the doctors, post ebay sales, really need o tidy up as my room is a riot and mum is back on thurdsay.

littlepinkstars44

I've done it again....was meant to have an appt with the nurse at 11:30....but i just woke up!

Really need to get my backside in gear and get my room done...it's getting worse by the minute...honestly!

CaroleM_3

Hi LittlePink,

Have just read your diary and wanted to say well done, I think its ace that you have realised the debts need to be paid and are working on a way to do it, at your age I hadnt even got that far yet! I know you can be a bit hit and miss about it all, but keep going, you will get there in the end! If it helps, I got the hang of this money stuff in the end, tho I hope you get there sooner than I did!

Also, if you ever decide to start using excel spreadsheets to help you keep track of your money, you can make them pink! (or pink, lilac and blue in my case)

Good luck!
xxx

PS I agree with you re Morrisons being aweful, my ex-bf worked there and they are a nightmare!

littlepinkstars44

Thanks for that Carole!!

Morrisons are a nightmare, honestly!

Anyway i have kind of made a start on my room...at least i can see the floor again, and all the clothes are either in my wardrobe on in neat piles waiting to be ironed.

Done 2 washings today, one is hanging up and the other still sat in the washing machine (my bedding!!) Cause its raining and all the heaters and the clothes horse are already full of my clothes
We did have 2 clothes horses, but the other one is broke! So looks like no bedding on my bed then tonight!

littlepinkstars44

So today was a nice wee NSD, as i haven't been out yet
Finished tidying up, hoovered and done some ironing. My shelves and desk could do with a bit of a de-cluttering, but will do that tomorrow!
Stopped raining, so even managed to get my bedding out the back!

Listed 20 book on amazon there.

Have made £21.75 on ebay this week