step away from the shops, run, run, oh no.......

tootallulah

Hi, I'm a serial diary lurker and I know the theory but sadly I seem to spend rather a lot on bargains, and in all honesty I don't really need anything, what's that all about? No Spending Days? I don't think I've ever had one. This is my stepping away from temptation by keeping out of shops story.

So this is me:51 single, working in London and living half in London and half in Notts. Tiny flat in London with a Victorian semi in Notts. I have a job I love which is well paid but for the first time in my life I have debt caused by a bill for major works on my leasehold flat's building, £18,000 believe me even after the lawyers I did have to pay it. After seven months I am now down to about £12, 000 with £10,000 on interest free credit cards and £2000 on my over draft.
I've sort of stuck at £12,000 for the last two months and I need to get a grip.

I have two freezers full of food, a larder which is also well stocked but I still buy food. And then there is my TK Maxx thing!

I'm following Hypno by writing down everything I spend, to stop me spending and also to see where it goes. Wish me luck.

My big aim is to pay off the overdraft and one credit card by Christmas, a total of £7000. I am looking for a new card to tart to as my Egg card 0% runs out in September. I have £200 in pound coins in the piggy bank, £34 in my purse so here I go, phew that's a mammoth first post.

Target 1, end July with an overdraft of £1500.

hypno06

OK, so you have made a good start.....now you need a plan of action.

If NSDs are hard to come by.....start off by aiming for just 2 or 3 a month. Or rather than NSDs how about LSDs (low spend days) where you count a successful day as being one where you spend less than, say, a fiver.....

What about joining in my "see how long £20 can last you" challenge? It doesn't really matter if your £20 lasts you 2 days, 2 weeks or 2 months (as if!!) but what matters is that you think twice before spending any of it.....prioritising what you really need, thereby hopefully being able to pay more off the debt.

The PAD (payment a day) challenge means that if you chuck even an extra £1 a day at the debt, you are reducing it by £30 a month MORE than you are at the moment, and with a bit of focus, you can pay more than £1 a day......

The "make £10 a day" challenge would give you ideas and focus to make £10 a day = £300 ish a month....that would have that debt tumbling down before your very eyes.....

Yes, I know that challenges are not everyone's cup of tea, but you just fix them to what suits you and your lifestyle, and as long as you are making steps in the right direction, does it matter whether you are winning the challenge or not??

tootallulah

Thanks Hypno, I'm off to search for the £20 challenge if I don't have a challenge nothing will change. Also I'm going to post where my overdraft is day by day as that will make me keep a close eye on what is happening. Beautiful morning here, I'm off to hoe the garden before it gets too hot.

Primula

Good luck, as you already know this IS the place for support and encouragement. I like the idea of Hypno's £20 challenge too so will have a wee search for that one too.

hypno06

It's not an official challenge as such - just one that has sprung up on my diary You are all very welcome to join in

tootallulah

Well Sunday was an NSD, woo hoo me. Today I spent £8.11, bus fare and food plus £29.90 for my weekly travelcard.