I want to break free........

BADPENNY_2

Well i've ben negleting mse and my diary for way too long now and once again my spending habits have got crazy and out of controll. I don't even want to look at my bank account as I am so scared. January has been a terrible month for cash flow as i'm sure has been the case for most of us. still another 2 weeks until pay day too. I am on holiday for a week now so day to day expenses should be next to nothing although thats not really where my problem is as I have become really displined about taking packed lunchs, not buying take out coffee ect. I have had utilitie bills all come at once that has taken a large amount of my wages in Jan and i just havn't left myself enough cash to live on, I havn't used my cc's though although I have been very tempted but I have had to increase my o/d again. Not much cash spare for food either so i'm having to be very inventive at the moment.

gilligansyle

Well done on not using the cc's. Tiny baby steps, at least you aren't increasing your debt. I love being inventive with whats left in the fridge, amazing what you can make if you have the basics in your cupboards.

BADPENNY_2

Hi,

Pay day today finally. This has been such a long month and I fel like I havn't been able to concentrate on my debt's for ages as I have been so skint. I have got myself organised this month and spent last night preparing my febuary budget and adding up my total debt figures and i'm ashamed to say it has barely come down at all over the last couple of months even though i try and make overpayments as much as possible its often a case of 2 steps forward and 3 steps back. I need to get serious about this and knuckle down this year once and for all.

I have somehow managed to run my overdraft up to £950 which is just too much for me tbh and i would love to try and get it down to £100. The charges of £1 per day are crippelling me to be honest as i am often into my overdrft after a couple of days plus the last 2 months have seen me go into unauthourised territory and i have to pay £5 per day for that so i'm paying over £50 a month for my o/d:eek:. So this month i have bit the bullet and paid £350 off it and have reduced it to £600, still way off what i feel comfortable with but its a good start.

completly forgot about not having to pay councill tax and water rates this month as well so i have pretended that i am still paying them and put the cash into a seperate account ready for my car tax/mot/service all which are due in march. I have also vowed that every month i'm going to put £150 into this account to cover all my utilty bills and i have started this today.

One big area i want to tackle this year is my grocery bill, its way out of hand and i know i can save loads here. the problem i think is that i constantly underestimate how much i need and then end up using cash earmarked for other things, last night i made my shopping list using a meal planner for next week and i have decided that i hate tesco now with passsion, such a rip off. went to aldi instead and home and bargin and managed to get nearly everything i needed in there with a few exceptions that i did visit tesco for but managed to get everthing i need for £55 which is a rough saving of £20 on what i usually spend. I have budgeted £250 for food and i'm determined to make this last and have some left over if possible.

sorry for the long post just trying to empty my head a bit. Back later with debt/signature update.

BADPENNY_2

Right here it is.

overdrft - £950
egg - £4599
mbna - £5075
opus - £1390
halifax - £145
= £12,159

o/h's debts
virgin - £1030
cap 1 - £703
halifax - £3070
post office - £2475
tesco - £1000
= £8278

joint personal loan £5440 outstanding. (FINISHES MAR 2012)

total joint debts today - £25,877.

IT WILL BE GONE!

gilligansyle

If the loan is finishing next year, you can start to chuck that money at other things and get them reduced.
I shop in lots of different shops, not Aldi as the nearest one is Smithdown and if I go there I go to Asda, but I go to Wilko's, H&B, Iceland, Farmfoods and then get things in Asda that I like their version of. It saves me £20 to £25 a week.

BADPENNY_2

My problem is that I shop when i'm bored on my day's off, i seem to of replaced clothes shopping with food shopping!.

When the loan finishes next year we will be £408 a month better off which i am planning on throwing at credit cards every month instead.

I have taken my whole months shopping budget out of the bank and put it in an envelope. I think if I can actually see cash it seems more real, I never veiw cards as real money and I think thats where my overspending problems stem from, I feel like i'm getting stuff for free!

I've also given myself a budget of £40 a week for personal spends which i know is a bit generous given the amount of debt i have but i don't plan on spending it all, anything that is left at the end of the week will go on my halifax card as i only have £145 to clear now.

I spent £20 today, I had some vouchers given to me at christmas and needed some new clothes for work so i put an additional £20 to them and I have got myself 2 new outfits including shoes so I am made up! I work in fashion retail and the pressure is constantly on us to make sure we look the part and therefor we have to promote the stock, luckly we get a very good discount on what we buy but it still costs me cash I don't have!

No big plans for tonight, will proberbly watch take me out, I have developed a bit of a crush on Paddy mcguiness! A pizza and a bottle of larger is on the menu too I think!

Different_Corner

Hi BP
I too have a loan finishing in 2012. Last payment is Jan 17th 2012 and then I will be 301.11 better off a month !
I agree on the the cash vs card situation, if you can't see it you don't have it should be my motto.
Keep going, we'll get there

gilligansyle

Definitely agree on the using cash, it is so much more real.

BADPENNY_2

Well I would be £408 a month better of in 2012 but i have just been accepted for a 10k loan :eek:. I really need/want to re-do my kitchen and we have some essential repair work that we have to get carried out asap, we have major problems with the roof of the extension and we have a damp problem and most of the render has come away from the outside so alot of the work is unavoidable and needs to carried out soon. The rate that was advertised was 7.2% and i have been accepted although i need to read through the paperwork and make sure that this is the rate they have offered me. So alas my debt continues...... but I am determined to crack on with trying to clear our credit cards.

Anyway a no spend day yestrday and a low spend day today just £2 on bus fares. I am up to date with my credit card payments, just paid £80 to mbna and have recieved my notification from the halifax for my overdraft charges for this month £53!!!!. but i have allowed for this out of my budget. Just checked my online banking and everything is as it should be. Also just recieved my clubcard vouchers £13. Think I'll save them and put towards something new for my new kitchen!

BADPENNY_2

Uneventful day. A nsd so thats good, took a pair of shoes back today and got a £10 refund, normally I would just keep them and stick them in the back of the wardrobe so thats £10 back in my personal budget and only 2 days to go untill my next weekly allowence starts and I still have £30 left, I do have a birthday present to buy but I am hoping to do this for £10 so providing I can do another 2 nsds I am hoping to put at least £15 towards another lump sum of £50 off my overdrft!!!.