Josephine's 'I will buy a house by the time I'm 30' diary

in Debt free diaries
23 replies 1.5K views
josephine82josephine82 Forumite
428 Posts
Part of the Furniture 100 Posts Combo Breaker Debt-free and Proud!
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As a frequent lurker to these boards I have really got into the whole DFW idea, and my ultimate target is to be debt free and to be able to save for a deposit on my own house/flat etc. I earn a pretty good wage and so getting a mortgage in theory shouldn't be a problem, but its getting the deposit together which is going to take a while!

Anyway, my current target is to pay off my car, my beautiful Citroen C2. I have about £2500 remaining to pay, and current savings of £1648.57. I'm saving £275 a month which is great, so it should be paid off in a couple of months. Then I'm focusing on saving for a deposit for a house. My target is £15,000. :eek:

As I said, my savings are £275 (& £75 after the car is paid for) but I'd love it to be a bit more. I fully admit I spend a lot of money on crap here and there, coffee, drinks, food etc so I'm hoping this diary will focus me. I also spend £160 a month on counselling which is outrageous :mad: but unfortunately necessary and I'm just dealing with it. I have put off the counselling for years so I'm finally dealing with my problems which are more important than having a house.

So, today I have spent (eeek, this is quite a lot, dammit)

3.28 - drink and some painkillers at the station- so didn't need this, if i had been organised enough i could have taken painkillers for my mega headache before i left the house....

1.91 - fruit for the week to leave on my desk so I don't eat biscuits

2.56- drinks and some yoghurt as I didn't bring enough lunch in.

how have I managed to spend £7.75 today????? must be more organised!

Hoping for No spend days Tues/Weds & Fri this week. Fingers crossed!:rolleyes:

Any tips for how to be a better DFW all welcome!
Debt free as of 2 October 2009
Mortgage free wanabee
«13

Replies

  • Good Luck Josephine!!

    Hope the headache has now cleared !

    40SM;)
  • MORPH3USMORPH3US Forumite
    4.9K Posts
    Don't worry Josephine, as long as you realise your mistakes and learn from them then its been a good day.

    Might be useful (if not done so already) to post your SOA and people can help see if you can cut costs even more.

    Well done for making a start though, keep it up!!!
  • josephine82josephine82 Forumite
    428 Posts
    Part of the Furniture 100 Posts Combo Breaker Debt-free and Proud!
    Forumite
    Statement of Affairs and Personal Balance Sheet
    Household Information
    Number of adults in household........... 1
    Number of children in household......... 0
    Number of cars owned.................... 1
    Monthly Income Details
    Monthly income after tax................ 1378.15
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 1378.15
    Monthly Expense Details
    Mortgage................................ 0
    Secured/HP loan repayments.............. 77.98
    Rent.................................... 360
    Management charge (leasehold property).. 0
    Council tax............................. 0
    Electricity............................. 0
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 0
    Telephone (land line)................... 0
    Mobile phone............................ 25
    TV Licence.............................. 0
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 100
    Clothing................................ 30
    Petrol/diesel........................... 50
    Road tax................................ 10
    Car Insurance........................... 29.73
    Car maintenance (including MOT)......... 15
    Car parking............................. 0
    Other travel............................ 20
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 9.75
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 10
    Haircuts................................ 5
    Entertainment........................... 150
    Holiday................................. 50
    Emergency fund.......................... 0
    Counselling............................. 160
    Total monthly expenses.................. 1102.46

    Assets
    Cash.................................... 1648.57
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 3995
    Other assets............................ 0
    Total Assets............................ 5643.57

    Secured & HP Debts
    Description....................Debt......Monthly...APR
    Mortgage...................... 0........(0)........0
    Hire Purchase (HP) debt ...... 2500.....(77.98)....14
    Total secured & HP debts...... 2500......-.........-
    Unsecured Debts
    Description....................Debt......Monthly...APR
    Total unsecured debts..........0.........0.........-

    Monthly Budget Summary
    Total monthly income.................... 1,378.15
    Expenses (including HP & secured debts). 1,102.46
    Available for debt repayments........... 275.69
    Monthly UNsecured debt repayments....... 0
    Amount left after debt repayments....... 275.69
    Personal Balance Sheet Summary
    Total assets (things you own)........... 5,643.57
    Total HP & Secured debt................. -2,500
    Total Unsecured debt.................... -0
    Net Assets.............................. 5,643.57



    Feel I should point out I live in a shared house, all bills inclusive! Any comments welcome!:cool:
    Debt free as of 2 October 2009
    Mortgage free wanabee
  • MORPH3USMORPH3US Forumite
    4.9K Posts
    Actually looks quite good to me although only had quick scan.

    Counselling is a bit of a big one but if you need it then not much you can do. £150 per month for entertainment is also quite a lot but then "all work and no play" so it is important to have some fun.
  • josephine82josephine82 Forumite
    428 Posts
    Part of the Furniture 100 Posts Combo Breaker Debt-free and Proud!
    Forumite
    Feel I should also say that while I do spend £150 on entertainment, I use this pretty wisely, this includes meals out, drinks out (non-alcoholic), days out when I stay with friends and family and the odd coffee and magazine here and there. I feel this is enough now for me to enjoy myself but I don't think I'm spending any money unnecessarily, its my social life and I need it to keep happy!

    Before I started the counselling, I used to spend that £160 on entertainment, clothes, shoes, haircut every month and wonder where it went. now I budget for it and while its expensive, its worth it, necessary and hopefully won't be for too much longer. :rolleyes:


    Well today, I have managed to get all the way to work without buying anything, no coffee or muffin, juice or anything else that I didn't need.

    Have just realised I left my lunch on the side at home :mad: but i have an 'emergency' tin of soup in my drawer and some bread in the freezer i think so fingers crossed I won't need to spend anything for the rest of the day, woo hoo!
    Debt free as of 2 October 2009
    Mortgage free wanabee
  • josephine82josephine82 Forumite
    428 Posts
    Part of the Furniture 100 Posts Combo Breaker Debt-free and Proud!
    Forumite
    Today was a great day! In the end i just didn't fancy my emergency lunch but went to Tesco's to get lunch and got a diet and budget friendly sandwich and snack a jacks. Bargain at £1.34!

    No other money spent today. :D

    Have already made my lunch for tomorrow, so as long as I don't forget it I'm good.
    Only spend for tomorrow will be posting an eBay parcel, have a couple of quid in change put by for that. Need to transfer the £5 quid I made from the trousers I sold into my savings.

    And I have worked towards losing some £ by working out on my cross trainer for 20 mins tonight. I'm hoping for a really good sleep now!:p
    Debt free as of 2 October 2009
    Mortgage free wanabee
  • josephine82josephine82 Forumite
    428 Posts
    Part of the Furniture 100 Posts Combo Breaker Debt-free and Proud!
    Forumite
    Yay! Today I only spent the £2.22 for posting my ebay parcel. I'm doing well.
    Payday is tomorrow. Just done a tesco food shop online withe the £10 off voucher. Hoping for a no spend day tomorrow, nothing planned apart from work, lunch all made.

    I am thinking organisation is the key to being debt free!
    Debt free as of 2 October 2009
    Mortgage free wanabee
  • Good luck Josephine! We seem to have similar goals but you've got a better head start ;)
    Starting Debt: ~£20,000 01/01/2009. DFD: 20/11/2009 :j
    Do something amazing. GIVE BLOOD.
  • Fire_FoxFire_Fox Forumite
    26K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
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    Feel I should also say that while I do spend £150 on entertainment, I use this pretty wisely, this includes meals out, drinks out (non-alcoholic), days out when I stay with friends and family and the odd coffee and magazine here and there. I feel this is enough now for me to enjoy myself but I don't think I'm spending any money unnecessarily, its my social life and I need it to keep happy!

    It's £1800 a year which could easily be cut back on without stopping having fun! You've done great to cut it down already, but there is still plenty that can be done.:confused: For meals out there are permanent two-for-one offers on the main board, or buy the ingredients/ posh ready meals and cook for yourselves, magazines get the three-for-£1 offers, three month free DVD rental from Lovefilm or Orange Wednesday cinema tickets, get drinks and nibbles from the supermarket and sit in the nearest park/ go round one of your mates houses. I have a great social life on well under £100 a month and that includes too much alcohol!! :o
    Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
  • josephine82josephine82 Forumite
    428 Posts
    Part of the Furniture 100 Posts Combo Breaker Debt-free and Proud!
    Forumite
    God, £1800 a year. That is a lot of money!

    The thing is, I do all of those things anyway! So I don't really know why it is so much. I don't drink alcohol so I can't even blame it on that!

    I must still do a lot of unnecessary spending. :mad:

    Ok- I'm going to keep an August spending diary to track it. perhaps if I get shocked by what I actually spend it on, i might be better placed to reduce it!

    Today for example my train was cancelled so I had to get a different train, and get the tube to work- had no money on my oyster card and so had to top up £5.00. Dammit. I can claim back for the £1.60 that it costed but its just so annoying- i put my spare change in my money giraffe as well this morning!

    BUT: i got expenses back from work today for £3.25 so kind of makes it equal out!

    anyway, its payday tomorrow and i still have about £7 in my account, so that's a good thing at least!
    Debt free as of 2 October 2009
    Mortgage free wanabee
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