Stop being a Wimp!... DMP Journey

Puzzcat

Hi Ellie,


Wishing you a wonderful 2015 and I shall enjoy following your journey to debt freedom....


Have a lovely NYE.
Love Puzz. xx

Eager_Elephant

Ellieseleven

So new year, new goals!;)

I have set myself the following:

1. Reduce the total debt to £8k by the end of 2015
2. Have £1k in my emergency fund - I try this all the time and can usually get to about £800 when something crops up.
3. Work on bringing our DFD closer and into 2016 - with some hard work I'm sure that I can pay off everything by December 2016 (if things stay as they are).
4. Stick to a budget of £200 for clothes for the whole year - this will be a challenge as I love buying clothes but I have stacks so should be able to do this:o
5. Have at least 10 NSD'S per month - this is definitely achievable, I just have to be a bit stricter with myself.

January is going to be a battle until payday but I'm treating this as a challenge rather than dwelling on the negatives. I've presented OH with a pouch of tobacco and told him we have no money for his brand of cigs, he took it quite well but that could change dependant on his mood. Anyway, I spent £10 on the tobacco and he hasn't bought any fags so far since yesterday, so by my reckoning that's a saving of £10 (deducting the £10 outlay for tobacco). Booze will be the next hurdle, we still have some lager left from Christmas but when that's gone, he will have to do without.

Feeling very optimistic for 2015 and feel that it is a step nearer to my ultimate goal.

Ellie xx

[Deleted User]

Excellent goals, Ellie:T. Given the way you have tackled your debt so far I'm sure they are pretty much achievable.

Wishing you every success in 2015:beer:

Ellieseleven

I wish you success too Carbootcrazy on your debt-free journey.

Here's to a debt-busting year:cool:

Ellie xx

Moneywhizz

Happy New Year. Great to read your goals for 2015, especially since you are hoping to be debt free by the end of this year.
I know everyone handles their finances differently but would it not be a good idea for your husband to have to buy his own tobacco and beer. Then if he can't afford it from his own money it is not your problem to deal with. I know sometimes it's not that simple but when you are trying so hard to stick to a strict budget and make sacrifices, it seems a shame that you have to spend your money on things to keep hubby happy. Sorry if that's too interfering. Xx

Chrisblue1962

Hi Ellie

Well Done on all your achievements in 2014 and I'm sure 2015 will bring many more .

Many Thanks for posting on my diary. Myself and OH are now well on the mend so both looking forward to 2015.

YNAB - Well, I too have been curious about YNAB but being a bit of a spreadsheet fan, I've always relied on self-build spreadsheets, complete with fancy formulae to do the maths.

I downloaded the trial version in mid-December and after a bit of messing about and reading the online tutorials, I decided to take a leap of faith so have now bought the full version. I anaged to get it for £7. 49 - that's 75% off normal price of £29.99! :T:T.

YNAB basically works on a "Zero Sum" budget - when you get paid you must theoretically allocate all your income for that month on paper (pc actually lol) to "something" / basically give every Pound a "job" - mortgage, petrol, groceries, whatever...unil money left to budget with is zero - the budget is balanced.

Then, as the month progresses, input your daily spending and as well as when bills are paid to ensure you stay within what you already budgeted for.

At the end of the day, YNAB makes you make informed budgeting decisions and informed spending decisions so that spending is never greater than income.

Confession: If the truth be known I am sometimes prone to kidding myself that another £5.00 on the credit card or "borrowed" from my Bills money is ok - Very very Wrong! :mad:

I'm really going to stick with YNAB and be tough with myself as it will be YNAB saying "NO!" (akin to "Little Britain" - "YNAB says No!" :rotfl:as I need to make hard decisions if the debt is to go away for good!

Verdict: Download and try the free trial version, do read the online tutorials as they help a lot and use it in paralllel with your current system to see if it works for you or is a help. I know £30.00 is a lot to some folks but if it helps you make better budgeting and spending decisions then I think it's good value for money.

Hope you have a Happy 2015

Ellieseleven

Moneywhizz wrote: »

I know everyone handles their finances differently but would it not be a good idea for your husband to have to buy his own tobacco and beer. Then if he can't afford it from his own money it is not your problem to deal with. I know sometimes it's not that simple but when you are trying so hard to stick to a strict budget and make sacrifices, it seems a shame that you have to spend your money on things to keep hubby happy. Sorry if that's too interfering. Xx

Hi Moneywhizz,

Unfortunately, my OH has no money of his own so relies entirely on me for six months of the year. His business is seasonal so he earns nothing between September and March but doesn't try to look for anything else when the work dries up.:(

I don't think that you are interfering at all.

Ellie

Ellieseleven

Thanks for the information on YNAB Chris, I think that I will have a look at the trial version. I love my spreadsheets too so I'm sure it's something that I will enjoy looking at.

Thanks
Ellie x

Eager_Elephant

Excellent goals for 2015 Ellie - I know you will achieve them!!


Hope OH continues to be on board with the cigs/booze issue.