*** Living beyond my means - My diary ***

cmjohnson_86

Im feeling really happy atm, despite having no money, my hours at work being cut and staying in over the weekend.

Ive just finished writing my letter to try and reclaim some bank charges and have had a dig around my room and found some great stuff to sell on ebay including some collectable Star wars figures. Plus I get my xbox 360 which my gf bought me on monday, Im working most of the weekend too which means im earning instead of spending. So all in all im feeling very positive.

Hopefully 2007 will carry on as the way its started.

lynzpower

when you said your hours have been cut carl, what do you mean? Are they contracted hours or overtime hours?

Time to look for something else? Or is it not critical yet?

patwa_2

Hi, glad to see you back here and glad that the mountain is slowly progressing towards becoming a hill. I just found this thread, have read it all the way through and it's also given me a few tips and a bit of a shake-up too. I'm 20, luckily I still live at home but it does help to put things into prospective. Anyway enough from me. A bunch of suggestions.

1. The overdraft. You're paying interest on this each month. See if you can't differ your payments to your mum and dad for a while so that you can start making inrodes into the overdraft. OK, you'll be reducing the value of those payments due to the interest, but it'll put you on your way to cleaning it up. This may sound outlandish, but I'm assuming your mum/dad aren't charging you interest on the loan (I know some parents that do) so maybe you could start paying them and the overdraft on alternate months or something, but make it a priority to clear all interest liable debts first.

2. Switch your Barclaycard balance to a 0% balance transfer card. It'll give you some breathing space for that. A 6 month card maybe, so you could have it sorted by the summer.

3. £22.50 for 3 months (50% for 3 months) then back to £45 for Sky, that's a LOT! I know exactly what you mean about boredom, been in that rut for at least 6 months to a year now, except it's coomputers that fill my time rather than TV. You can watch many channels online, and if you must, use the XBOX for entertainment instead of Sky. Just tell them you want to cancel. It'll save you at least £400 by the end of the year. I've no right to lecture, and I'm not trying to, but you've got to take a firmer approach to this, and do what is right rather than what is easy.

4. I assume you've already done the whole getting a better Savings account thing, but if not now's the time to do it. Maybe look into a Regular Saver, but bear in mind it'd lock up the funds for at least a year, and many of the better ones have current account requirements.

5. On the same vein regarding making money, take a look at matched betting. Many on here do it to make money to pay off debts, and if you take the time to understand it, say an hour a day or so it can quickly mount up. I'm sure others would back me up on this, but with that effort you could probably clear up a substantial part of your debt by the summer through the bonus offers that are discussed on this board and on other sites.

6. Not to pry, but could you and your GF not share some of the costs? You said your mum drives you to her place, is it far? If not, maybe you could share bus transport costs, etc. basically things that you do together but both pay separately for, I don't know, but just a thought.

7. eBay is a very good idea. Also look at putting a few things in your local paper. It (usually) won't cost you anything unless your item is listed for more than a certain value (£50 for our local here in Aberdeen) and a lot of people read the local evening papers looking for stuff.

there are lots of other small tips on saving money, packed lunches instead of eating out, etc, etc. I guess the main thing to look at is that until such time as you've got the issues under control, you're going to have to make a few changes to your life, but these needn't reduce the quality of your life. And of course, people on this board are great and always willing to help.

Cheers.

cmjohnson_86

lynzpower wrote:

when you said your hours have been cut carl, what do you mean? Are they contracted hours or overtime hours?

Time to look for something else? Or is it not critical yet?

Well as you probably know im a chef and this time of year is the quietest so everyones hours get cut. I usually do 45-55 hours p/w maybe more. But next week im only doing 35-40, which will make a small difference in my wage packet at the end of the week. I cant quiet remember if I signed on my contract to be doing atleast 40 or so. I will have to check it out.

Dont really want to leave where I am no as im doing very well, just waiting for better oppurtunitys to come my way now. Area managaers and trainers have been full of praise for me so its only a matter of time i hope.

LookingAhead

Trying to look on the bright side, I hope the reduced hours allow you more time for rest and good quality time with your GF and friend/family.

cmjohnson_86

patwa wrote:

Hi, glad to see you back here and glad that the mountain is slowly progressing towards becoming a hill. I just found this thread, have read it all the way through and it's also given me a few tips and a bit of a shake-up too. I'm 20, luckily I still live at home but it does help to put things into prospective. Anyway enough from me. A bunch of suggestions.

1. The overdraft. You're paying interest on this each month. See if you can't differ your payments to your mum and dad for a while so that you can start making inrodes into the overdraft. OK, you'll be reducing the value of those payments due to the interest, but it'll put you on your way to cleaning it up. This may sound outlandish, but I'm assuming your mum/dad aren't charging you interest on the loan (I know some parents that do) so maybe you could start paying them and the overdraft on alternate months or something, but make it a priority to clear all interest liable debts first.

2. Switch your Barclaycard balance to a 0% balance transfer card. It'll give you some breathing space for that. A 6 month card maybe, so you could have it sorted by the summer.

3. £22.50 for 3 months (50% for 3 months) then back to £45 for Sky, that's a LOT! I know exactly what you mean about boredom, been in that rut for at least 6 months to a year now, except it's coomputers that fill my time rather than TV. You can watch many channels online, and if you must, use the XBOX for entertainment instead of Sky. Just tell them you want to cancel. It'll save you at least £400 by the end of the year. I've no right to lecture, and I'm not trying to, but you've got to take a firmer approach to this, and do what is right rather than what is easy.

4. I assume you've already done the whole getting a better Savings account thing, but if not now's the time to do it. Maybe look into a Regular Saver, but bear in mind it'd lock up the funds for at least a year, and many of the better ones have current account requirements.

5. On the same vein regarding making money, take a look at matched betting. Many on here do it to make money to pay off debts, and if you take the time to understand it, say an hour a day or so it can quickly mount up. I'm sure others would back me up on this, but with that effort you could probably clear up a substantial part of your debt by the summer through the bonus offers that are discussed on this board and on other sites.

6. Not to pry, but could you and your GF not share some of the costs? You said your mum drives you to her place, is it far? If not, maybe you could share bus transport costs, etc. basically things that you do together but both pay separately for, I don't know, but just a thought.

7. eBay is a very good idea. Also look at putting a few things in your local paper. It (usually) won't cost you anything unless your item is listed for more than a certain value (£50 for our local here in Aberdeen) and a lot of people read the local evening papers looking for stuff.

there are lots of other small tips on saving money, packed lunches instead of eating out, etc, etc. I guess the main thing to look at is that until such time as you've got the issues under control, you're going to have to make a few changes to your life, but these needn't reduce the quality of your life. And of course, people on this board are great and always willing to help.

Cheers.

Hi Patwa, hope you also can battle away at your debts and thanks for your suggestions, in response;

1. The money I pay my mom is just rent per week, its not too much and to be honest I do get everything I need for this. As for my dad ive messed up with him, promising when he gave me the money that I would pay £120 per month thus only paying £500 since January 2005, So I really want to just pay him off asap as I feel I have let him down a little.

2. My barclaycard debt should hopefully be paid off by this time next month, I cut the card up over a year ago now to prvent me spending any more.

3. I see exactly where your coming from with this and I do want to cancel it. I think I am going to ring them up on my next day off and give it a go for a few weeks to see how I feel, My mom does have telewest downstairs so its not like theres nothing to watch.

4. Yea I have looking into opening a savings account up but Id rather become debt free before start saving, I opened one up before but found myself dipping into it all the time because after paying back debts/bills I would be short of money to do or buy anything.

5. Yea I have read a little on this match betting, but really havnt had time to sit down and read through it so I understand it. But I promise when I get a spare few hours I will

6. Yea ive changed alot concerning my gf, Im no longer running around doing what she wants me to. And she knows now that I am more determined to become debt free therefor I can no longer spend so much on her. Which she is fine with, We do use the bus's alot more now and even walk there. I try my best not to ask my mom for lift as much as I can.

7. Yea I have used eBay for a few years now, I usually go around car boots on weekends to buy things to sell on ebay which I make a tidy profit on. But car boots are thin and far between at the minute so once they re-start ill have an extra source of income.

The more I visit MSE the more tips, inspiration and help I will find, therefor become Debt free can only become easier. With so many great people including yourself becoming debt free will only come quicker.

Once again patwa, thankyou for your suggestions and goodluck to yourself to becoming DEBT FREE :beer: :beer: :T

gallygirl

Can't believe I'm about to say this......

Keep the sky if you want to. You've made v good inroads on a low income. Cut yourself some slack!

Good to have you back! When I saw user name I thought 'oops, he's back to confess he's spent a load' - so great to see you're doing so well!

Keep going!

cmjohnson_86

ali007 wrote:

Can't believe I'm about to say this......

Keep the sky if you want to. You've made v good inroads on a low income. Cut yourself some slack!

Good to have you back! When I saw user name I thought 'oops, he's back to confess he's spent a load' - so great to see you're doing so well!

Keep going!

Im not going to lie, I have gone off the rails a bit but as I have spent too much I have also carried on paying off my debts. I will have a think about the sky deals.. Thanks for the encouragement

P.s Its great to be back.

cmjohnson_86

Im doing really well this weekend, heres my spend diary so far;

Friday 5th January - £2 on bus fairs
Saturday 6th January - NO SPEND DAY :beer:

Sunday - NO SPEND DAY AGAIN (My Aim)

But tommorow I get paid, and my xbox 360 which my gf bought me is coming, so im probably going to spend in excess of £120 tommorow. Ill try to avoid temptation in buying a new game, instead Ill rent one !

Willsnarf1983

cmjohnson_86 wrote:

Im doing really well this weekend, heres my spend diary so far;

Friday 5th January - £2 on bus fairs
Saturday 6th January - NO SPEND DAY :beer:

Sunday - NO SPEND DAY AGAIN (My Aim)

But tommorow I get paid, and my xbox 360 which my gf bought me is coming, so im probably going to spend in excess of £120 tommorow. Ill try to avoid temptation in buying a new game, instead Ill rent one !

whats the £120 on?

Will