Clippy is finally being a responsible grown up!

clippy_girl

hello,

i have toyed with the idea of doing one of these for a few days after having my LBM. i have been dipping in and out of others and feel it may help me!

my debt situation is this-

Loan from Dad- £6204
Loan from dad for holiday- £1600
Overdraft (0%)- £500
Virgin card (0%)- £1880

my loan from my dad was a loan he took out in his name to repay my career development loan as he could get a much better rate. He has now paid this off early with some money he got and i am currently continuing to pay him £188 per month which was the repayments on the loan.

loan for holiday was to pay for my part of my tour i am doing in november. i have paid the rest and the flight already. this will be repaid by april using money from mystery shopping.

overdraft is the remainder of my graduate overdraft. paid £500 last week and will repay this £500 next summer when it is not interest free.

Virgin card is debts from my last holiday which will be paid in full by mum when 0% runs out in a few months and then i will pay her in april when i get my back dated payrise (payrise confirmed).

clippy_girl

i am aware that i am fortunate in that my debt is 0% and that family have assisted me. it has been easy for me to disregard the large loan from dad as i am paying that each month and it is affordable. same with credit card as i knew i would be getting that backdated payrise.

however i have bought a house last week and mum is helping me with that. she has kindly said i can repay her when i finish paying dad. however, if i continue at my present rate i will not repay him until april 2013 and then will take some time to repay her and i do not want to be in debt for this many years! as a result i want to curb my spending and try and repay more than i pay atm each month so i can see my debt shrinking.

my take home salary is £1167 (i have a lease car that is subtracted from my pay before this amount).

my salary is currently mostly spent each month on the following-

Dad- 188.37
Mobile 1- 32.99
Gym- 47
Mobile 2- 45
Rent (inc bills)- 360
Hair- 20
Food- 80
Petrol- 80

after this i have about £313 to live off and overpay. i have two mibiles as i wanted a blackberry to assist my mystery shopping and was already locked into a contract. the old irresponsible me took out a second contract to get it. i have to admit the bb was great amd has enabled me to pick up lots of extra jobs but gutted i do not use the first contract. i sold the phone but i cannot cancel the contract until oct 2010. i will be doimg this straight away then!

i currently do mystery shopping and earn around £300 per month (although i have to pay tax etc on this).

my plan is to use my mystery shopping money to firstly save my £1000 needed for my spending money for my holiday and then pay all the money earnt to dad to repay the £1600. this should be done by april 2011. i have a seperate mystery shopping account to prevent me from dipping in!

any i manage to save from my salary will be added to the £188 to reduce the large loan.

clippy_girl

I am giving myself a weekly budget of £40 and will try my hardest to stick to this. I appreciate that this is a lot to some people but it will be a big readjustment for me! What i intend to do is withdraw it in cash and only use this. after a while i will try and reduce this amount but i know if i make it too small straight away i will not stick to it

i will try and save as much as i can of this and any coins i will put in my pigs to be put towards to debt overpayment. i have one pig that i save £1 and 50ps in to put towards xmas pressies. i know some weeks i will have notes left over (! ) so these will go to one side to pay for unplanned spending and if i manage to have ober £50 i will use everything else to repayments. i also intend to keep a spending diary!

even without the diary i know one of my biggest weaknesses is junk food! i do my weekly shop and avoid temptation as i convince myself i will be healthy this week. what then happens is i pop to tesco express at the top of my street everynight and buy sweets and chocolate :EasterBun

i then spend more than it costs in the supermarket so i am combining my money diet with a weight diet and banning junk! this should help me both save £'s and loose pounds

i am sure that this will not be interesting to most people but i think it will prob help me achieve my goals and stop me annoying everyone around me whinging on about my debts! :rotfl:

once it comes to april i will take stock again as some debts wont exist and so i will be able to use mystery shopping money towards main loan from dad and clear it quicker.

however i will be borrowing a few thousand from mum over the next two months or so for my house. offer was accepted last week so need to now pay for solicitors, survey, furniture etc.... so this debt will be added on. i hope this will not exceed £4 (which it should not) and so my total in april hopefully will nit be more than it it is now

gallygirl

clippy_girl wrote: »

the old irresponsible me took out a second contract to get it.

Yes, well, I did try to point this out at the time!!!!!!

clippy_girl wrote: »

i also intend to keep a spending diary!

Oh good, now I can stalk you :rotfl:

clippy_girl wrote: »

i am sure that this will not be interesting to most people but i think it will prob help me achieve my goals and stop me annoying everyone around me whinging on about my debts! :rotfl:

Oh good

clippy_girl wrote: »

i hope this will not exceed £4 (which it should not) and so my total in april hopefully will nit be more than it it is now

Em, think you've missed of a few 000's hon :eek:.

Aw, my baby is buying a house and has a debt diary. Where did all the years go

What CG hasn't said, in the unlikely event that anyone else reads this , is that I will be guaranteeing her mortgage and she will be letting out her 2nd room so won't actually be any worse off then what she is paying out at the mo in rent. We have had the responsibility, big bills talk and when she hasn't got a lodger I will help out. She has done her research and should get a lodger easily.

Well done hon :T

mummyofonechild

Hi

Glad you have had your lightbulb moment. I think the best thing to do is pay off the most expensive debt first as it will save you money in the long run. Good luck on your debt free journey.

Tesco_points_addict

Hello

Keep up the good work with the mystery shopping and you will soon be there. when you get your house are we all invited to the party??

TPAx

gallygirl

Tesco_points_addict wrote: »

Hello

Keep up the good work with the mystery shopping and you will soon be there. when you get your house are we all invited to the party??

TPAx

Don't invite her, she's a lush

Hopefully this time tomorrow CG will have a mortgage offer. If not, my phone will be off the hook :eek:

clippy_girl

hehe why not? :beer:

thanks for the encouragement

yes fingers crossed, i will cry if they say no

aiming for a NSD tomorrow, should not bee too hard as i dont need to buy anything. :cool:

scubaangel

Tesco_points_addict wrote: »

Hello

Keep up the good work with the mystery shopping and you will soon be there. when you get your house are we all invited to the party??

TPAx

Ohhhh housewarming at clippy's place is it? I'll assume my invite will be in the post when I return from my holibobs

greent

Tesco_points_addict wrote: »

Hello

Keep up the good work with the mystery shopping and you will soon be there. when you get your house are we all invited to the party??

TPAx

I'd watch that TPA - she's a bit of a party animal by all accounts!!:rotfl::rotfl:

Good luck! Hope the offer comes in for you tomorrow!!

Nitha

Good luck xx