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

rustysmart

Hi TLF, thanks and thanks!!

It's not been easy, I've had debts since 2000 but never considered them a huge issue. It's only been within the last 18 months that I have wanted to do something and within the last 4 months that I have actually done anything about them.

It's been an enjoyable journey so far. You've done exactly the same as me which I found rewarding: detailing your debts and celebrating them when you have paid some off. I managed to pay off a loan early by setting myself a target, as you have separated each debt you can target them as required.

Best wishes on the journey of 'moneysaving'!!

rustysmart

Another book sale on Amazon last night means I can add £3.16 to my savings and tomorrow morning my eBay stuff ends. Currently got over 50 people watching my four items and all due to sell which is great news. Kind of got me in the mood to sell some more games now, I've wanted a PS3 for ages and this way I could possibly afford one just through eBay sales. One could argue that I should use the money to pay off a debt, which I accept, but if I'm not spending the money out of my account it's not going to get me further in to debt?!

rustysmart

Well my eBay stuff is currently up to £56 and it ends tomorrow at 11am so no doubt I'll be online then!!

Not sure what I'm 'hoping' to get and may be bad luck to say it on here, we'll see what happens! Either way I have some money for the new games fund or dare I say it the PS3 fund!!

Nighty night everyone!

minniepoos_2

rustysmart wrote: »

...I've wanted a PS3 for ages and this way I could possibly afford one just through eBay sales. One could argue that I should use the money to pay off a debt, which I accept, but if I'm not spending the money out of my account it's not going to get me further in to debt?!

You have to treat yourself sometimes, to make all this seem worth it! You seem to be going great, good luck for the new year

rustysmart

minniepoos wrote: »

You have to treat yourself sometimes, to make all this seem worth it! You seem to be going great, good luck for the new year

Thanks minniepoos, I completely agree. The problem was a few years ago I would find any excuse to give myself a treat or two!! At least now my mindset has changed so a 'treat' now really does feel like a treat.

Best wishes for the New Year too - who knows what it might bring!! :beer:

rustysmart

Well I'm not sure where to start ... feels like a great end to 2009 with so much happening today!! As I'm dyslexic I know how hard it can be to read loads and loads of text, so I'm going to break it down into subheadings (not to patronise anyone, just to organise ideas better!!)

eBay :T
As I've listed over the last few days, I've had games on eBay for auction. They ended today and didn't do too badly. I made just under £70 in sales which I was pleased with. When you take of postage and eBay fees I am able to transfer just over £50 to my account - not bad for selling stuff I didn't use, but if I am honest the fees/postage stumped me harder than I thought. A friend has suggested selling on Amazon next time (which I already do for books) - might consider it.

Mystery Shopping :j
Finally received a £10 payment today that I've been waiting for which has gone straight into savings. The website has been down over Christmas but aiming to kick start that again in the new year.

Savings :beer:
The great news is that I end 2009 with just over £200 in savings. Not much to others, but consider the fact I started 2009 with £0 and I've already saved enough to pay off one loan early in preparation for currently saving to pay off an overdraft.

Overdrafts :j
On the subject of overdrafts, since my LBM I've always said that I'm a little disappointed with the fact that my overdraft hasn't decreased much. Well I end 2009 with my first payment reaching my HSBC overdraft and savings in my A&L account in preparation for paying off that one too. 2010 could and should be the year of no overdraft!!

Crikey, I've just re-read this entry and apologies for its length, but I feel quite good in writing it all down.

Have a great NYE everyone - thank you for joining me on my money saving journey!! :beer:

rustysmart

Sorry, me again!! Possibly for the last time today (and for 2009).

Just wanted to say that I have bitten the bullet and listed my xbox for sale. I've decided to use Amazon as I'm in no rush to sell it and also been recommended to me by a friend instead of eBay - we'll see what happens.

rustysmart

Happy New Year everyone!! May 2010 bring you all that you desire - for me that's paying off my overdrafts (possibly as soon as the summer?!) and maybe tackling the loan or credit card head on!!

rustysmart

After a long conversation with my wife yesterday, I may have stumbled on a better target for the end of the year. A new LBM?

I currently owe £6525 on a HSBC loan and repay £296 a month towards it. It is due to end Dec 2011.

I overpay my credit card by £40 a month and as from last month started putting £235 towards my overdrafts.

My thinking is this: continue paying off my overdrafts (£235 a month) along with an additional £40 and make min. payments to my credit card (still on 0%). Then at the end of this year 2010 I can afford to pay off the whole loan a year early.

Not sure what the monetary saving would be, or whether this in indeed a logical plan - but it feels right. Also, would mean in the new year 2011 I would have over £500 to pay debts off each month.

minniepoos_2

rustysmart wrote: »

After a long conversation with my wife yesterday, I may have stumbled on a better target for the end of the year. A new LBM?

I currently owe £6525 on a HSBC loan and repay £296 a month towards it. It is due to end Dec 2011.

I overpay my credit card by £40 a month and as from last month started putting £235 towards my overdrafts.

My thinking is this: continue paying off my overdrafts (£235 a month) along with an additional £40 and make min. payments to my credit card (still on 0%). Then at the end of this year 2010 I can afford to pay off the whole loan a year early.

Not sure what the monetary saving would be, or whether this in indeed a logical plan - but it feels right. Also, would mean in the new year 2011 I would have over £500 to pay debts off each month.

It feels good to have a working plan for the year. Hope it all goes ok for you, will be checking in now and then to see how you're getting on (if that's ok with you!)

Minniepoos