Russell's 'New Leaf' Spend Less, Make Money, Pay off Debts Diary

rustysmart

Shares day tomorrow - my next £30 investment in the stock market!! I am currently a massive 81p up on my £50 investment from the last two months which is good because that takes into account the commission and stamp duty charged. I recognise it won't break the bank and I am fully aware that the price could go down, but it's not like I am going to sell up in the near future.

rustysmart

How was everyone's day?

I can't believe that it will be October by the end of the week!!

Herewego

Payday tomorrow looking forward to an updated signature.
Hope the share buying went well, when we have a little more spare cash i will build up our shares too.

rustysmart

Hi Herewego, yeah I love updating my signature every month! Actually seeing the numbers change for the better each month is great.
I am awaiting the final buying price for the shares today, but the good news is that the shares I intended on buying have fallen each day this week before the purchase - let's just hope they start going up too!!

rustysmart

Is it too early to start my spreadsheet for next month's budget?? I always get to this point in the month (3rd / 4th) and find that all my direct debits have gone out and it's just by week by week spending to take into account. Looking forward to next month as I will be due two months back pay of my pay rise, it's also half term the week after pay day and we are going away for a night - problem is payday is still 20 days away!!

Herewego

I update my spreadsheet daily trying all different ways to clear it quicker, it's never too early. Roll on payday the budget is a little too tight this month

rustysmart

I find myself looking at the spreadsheet daily (along with checking my bank daily too), not much really changes - well no surprise changes most weeks anyway. I think the thing I get most excited about is looking at balances for the next month, for example when I get paid (still 20 days away ) my overall debt will be hovering above £2000 - it will be psychologically great to be below £2K!!

rustysmart

If I can make it to the end of tomorrow without buying petrol (which is likely) then I will have £17.50 of my weekly budget left which will be the first time I have had anything left over since my LBM!!

Should all go completely wrong this month then I had received a bit of a boost from winning £40 from online bingo. Quidco are offering £15 cashback for placing and betting £15 so I thought that would be a no win no loss situation, only to find myself winning which I quickly transferred out and will not be playing again!!

Not looking too bad this month, especially good as we approach the expensive season - dare I mention its name?!

DebtFreeDan

Hi rusty, well done on the £40 winnings, I wish I could manage the same! It's slow going on the 10p a day scratchcards!

You've done really well to take off all that debt in such a short space of time, you're in the home straight now!! I notice you mention weekly budgets. Is that how you survive, chop your remaining funds after all out-goings into weekly sums?

rustysmart

Hi DebtFreeDan,

Thanks. Feel things are moving in the right direction. When I've told my mates about paying off loans/overdrafts that I have had since uni (10 years ago) I can't quite believe it myself.

As far as weekly budgets go I have struggled in that area. I've a few things: withdrawing all remaining credit and having cash in hand for the month (didn't work!), and more recently making more use of my expenses spreadsheet. My budget is the remaining money that I have AFTER I have put money into savings. To be entirely honest, until I had payed off my loan, it was very difficult to put any money into savings.

Good luck on your journey to debt free life.