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

cmjohnson_86

I have not been on for about a week or so and boy have I been stupid. Ive spent FAR TOO much, and have messed up a few payments therefor going over my overdraft twice in the last week, So have had it increased by £300 which I feel really really bad about. I really need to have a reality check and try keep on track.

Me and my gf had a HUGE bust up and are now not together for the time being, I just feel like ive let myself down SO much AGAIN.

Got the day off work today so am going to come on here as much as possible today to get myself back on track.

Sorry for whining on.

hypno06

Sorry to read that you are having a bad time at the moment.

Just remember that life is not meant to be easy! Challenges like these come our way, we deal with them somehow and then we move on.

Keep strong, keep posting and you WILL get there.

redrabbit29

cmjohnson_86 wrote:

SOA - Monthly -

Monthly income after tax roughly £800

Rent to my mum: £120 p/m
Loan from my dad: £120 p/m
Nan: £80 p/m
Sky+: £22.50p/m (50% for 3 months, thanks to MSE tips)
Pay as you go mobile: £20-£30 p/m
Interest on overdraft: £15-£20 p/m

According to your incomings/outgoings, you will have £392.50 left each month. That is after paying your rent, your sky, mobile, etc... those things you listed above.

With that much left, even if you put aside £100 for social/game/whatever-you-want costs, you would still have £300 left.

I find when trying to save money it is best to have something to do and keep you occupied. For example, for the last 3-4 months I've gone to the gym every week, and by doing this I've stopped drinking, and stopped going out at weekends.

LookingAhead

Aww sorry you & your gf have had a bust up. Do you think it was stuff that needed to be said/clear the air of something in particular? I hope you can both have some time to think and get back together with a better plan for 'going forward' together hon.

As for the spending. Tsk. Tut tut. You fell off the wagon then huh?

Anything that can be taken back or was it blown all on good times?

Listen you have to pick yourself again and dust yourself off and carry on. I've disappointed myself before by going out an blowing three figures on clothes and stuff. I think you'll be hard pushed to find people on here who never have & never will wander off the straight & narrow.

Think about the triggers that make you spend. Can you do anything about those triggers?

Can I make a suggestion? Update your signature so you have your figures on show and also include the progress. You need to remind yourself of what you owe but also what progress you *have* made. This will help you, it really will.

Good luck getting things sorted and getting back on the trail.

cmjohnson_86

Thanks for the comments, made me a little happier and more determined.

The moneyI spent over the weekend was on good times I suppose, I went out friday night with some mates and went to a rave on Saturday, But I didnt really need to spend the amount I did. But im going to try make a fresh new start with some new goals and targets.

Im going to write all these goals and targets down along with a new SOA in about an hour or so, going to make some food for myself and sort a few other things out. Will update shortly.

Thanks again guys your great

LookingAhead

cmjohnson_86 wrote:

But im going to try make a fresh new start with some new goals and targets.

That's the spirit.

A good thing about being a human is (in my humble opinion) is that after a disappointing or particularly rubbish period of time, we can all sit down and say "Right that's it...I'm going to make a fresh start".

I for one and quite pleased about that cos if I had given up after some of my own spectacular falling-off-wagon moments I'd never have achieved anything at all let alone pay off over £5000 in debt last year.

Good luck with working out your new SOA and as well, writing down all your goals - that's a top idea.

cmjohnson_86

Ive had a bad week, have gone off track so am making a fresh start at trying to tackle my debts. Im updating my debts and will SOA, to see where else I can cut back and see how long it will take me to clear it all.

Debts:

Dad: Was £2,500 Now £1,880
Nan: Was £520 Now £132
Overdraft: Was £1,900 Now £1,900
Credit Card: Limit £250 balance £110

SOA - Monthly -

Monthly income after tax roughly £800

Rent to my mum: £120 p/m
Loan from my dad: £120 p/m
Nan: £80 p/m
Pay as you go mobile: £20-£30 p/m
Interest on overdraft: £15-£20 p/m
Broadband: £10 p/m
T-Mobile Contract: £30 p/m (Dont use this contract but cant cancel it, ends may 07)

Total:£390

I get paid weekly and seem to waste more than I pay towards debt. I do however want to increase the amount I pay towards debt. I want to b debt free by December 2007, therefor I have worked out that ill need to pay the following most weeks.

Dad: £170 p/m - £42.50 per week
Overdraft: £172 p/m - £43 per week
Nan: £20 per week
Mom: £30 per week
Total: £135 per week

I think I could afford to do this most weeks if I stick to it.

I have cancelled my Sky subscription as the 50% offer ran out and they never offered me any new discounts. Now on a pay as you go phone as main contract finished. Have no other regular payments.

Any thoughts welcome

crawley_girl

Hiya!

I think the plan of attack as outlined above it do-able.

This would leave you with approx £50ish per week to cover broadband, PAYG mobile, contract mobile, going out, bus fares, clothes, christmas, haircuts etc etc.

I would suggest (and it is only my suggestion) that you come up with some kind of budget for those things I have mentioned above or else you could find yourself falling down at Christmas or at birthday and using credit that you don't want to use.

I know you have said that you don't want to have any savings, but what I do is once I have been paid, I use internet banking to sweep approx £100 per month into a savings account. It is not 'savings' it is just me budgetting my money so that I don't need to use all of December's pay to buy my christmas presents or use my credit card when my car fails it's MOT and needs work doing on it.

:heartpuls CG :heartpuls

LookingAhead

Hi there. Good point there from Crawley_Girl.

Your nan will be paid off soon by the looks of things and that means you then have the option of throwing more money at your Dad's debt/the overdraft.

May 07 will be here before you know it and then the mobile contract will be gone....more money to throw at a debt.

If you keep the spending diary, be honest with yourself and everyone else about what you can afford to and budget nights out accordingly, you can do this!

Does December 07 (your debt free target date) feel like it will never arrive or are you optimistic?

I hope it's the latter because believe me, it will be here before you know it. Time seems to speed up every year! (Or is that just me getting old? Don't answer that...!)

LouBlue

Newbie here so just read this thread.

Well done you for being so sensible at such a young age! I wish I had been.....hope you sort things out with your g/f and keep up the good work! :T