The Final Push - Getting Rid of the Last Loan and CC

Beencounting

Hi Rachel

Just popped in to say hello.

Congratulations on the PPI claim, that's fantastic news! Sounds like things are coming together nicely and that you're heading towards debt freedom!

Well done.

Been

josiebabie

Me too just raising my head to say hi Rachel! ***waves***

WelshWoofer

Thank you ladies!
Nice to see you!

Nothing earthshattering to report - had a NSD yesterday but spent £4 today. I've joined the November NSD challenge - aiming for 10.
I've just checked the bank and it seems that as long as I stick to my budget for next week I am still on target for not being overdrawn by payday for the first time in a year!

WelshWoofer

Well the NSDs don't seem to be going as well as I'd hoped! Just 2 so far - no big spends just £2 or £3 here and there but still spending!
Will try harder!

I'm still on target for getting to the end of the month without being overdrawn - the food shopping cost £53 instead of £45 today - good job I had a little comfort zone. To try to make up for it I've only withdrawn £30 from the bank this week instead of £40 but I do have a horrible feeling that I'll need petrol before the end of the week - fingers crossed XX

I've also started Xmas shopping - mostly Amazon stuff on line but its a start and I know what to get for most people now.
Quidco has finally changed status to £45 now received (about half of what I'm waiting for) so hopefully that will pay out later in the month and will pay for another pressie or two.

Feeling much more in control of my finances these days - just owing 1 loan and that's it. I pay £345 a month on the repayment but have absolutely no other debt and can now start to think about the odd overpayment here and there. Mustn't get complacent and let things slip though.

Staying in tonight so more money saved - to be honest I can't be bothered going out anyway. A bottle of wine, Strictly and a bath will do me.

WelshWoofer

Well, I've been useless at updating the diary - November !!!
But the good news is that I seem to be coping ok-ish.

I stilll don't have an overdraft, haven't used the CC for over a year and the balance is at zero (or nil as the Lloyds website likes to say!) and I haven't taken out any more credit. So the only debt is still the bank loan which was originally £16800 (in August) and is now £13000.:j

The job is going well and I have been told that my contract is 99.99% likely to be made permanent at the end of the school year and there's even been talk of a little promotion to Key Stage 3 Coordinator which will mean a bit more money - more work but better prospects for moving up in the future.

My aim for the New Year is to pay off about half of what's left on the loan - about £6000. The monthly payments will add up to £4200 so that means I have to find about £1800 to meet this goal. It will be easier than it sounds as I will have a £5000 golden hello payment that I can apply for at the end of the school year which will be about £4000 after tax.

So, about half of this bonus can go towards the loan and half into a savings account to reswell the ever dwindling coffers.

I aim to have about £5000 in savings by the end of 2011 - there's £2500 there now so an extra £2000 or so from a bonus will help to get me there.

Other small things I hope to do to control the budget are....

• always shop with a list and meal plan - I let this slip sometimes
• give up the nasty habit
• save £2 a week into a sealed pot towards next xmas - will start that this week
• do enough surveys to buy sister's birthday present in March (balance of £11 ish now so should be doable to get £25 ish)
• only buy 1 lunch at work a fortnight as a treat - mostly manage this but need to be stricter - it is a school canteen so is cheap and not a massive extravagance;)
• try to have 2 or 3 NSDs a week - any more than this is unrealistic for me

Doesn't sound like much does it?

I also need to work out whether its better for me to take out the cash I'll use for the week or just when I need it - I used to take it all out in one go but I think seeing £40 or £50 in my purse encouraged me to spend - I may try taking half at a time and seeing if that helps to eek it out a bit?

Anyway, enough woffle from me - I'm off to have a nosey at everyone else's diaries for ideas.
If I don't check back in tomorrow - have a lovely Christmas!

WelshWoofer

Well, Xmas is all over thankfully and we're back at home - phew!
I'm not a big fan of the whole thing - it includes my birthday on the 22nd too - and find it all a bit of a strain - sound like a right misery don't I!

The petrol to go to Wales didn't cost as much as I thought so came in under budget for once!
I also seem to be doing OK with the cash budget for this month too - I still have £68 in my purse from the £100 taken out on the 23rd and an extra budget of £40 for a night out (meal etc) with friends tonight - although I'm not sure whether we're going yet as OH was quite poorly during the night so may not fancy it.

I'm not doing any food shopping until Sunday if I can help it - except for some nice stuff for New Years Eve from M&S. Just the 2 of us so shouldn't cost too much.

I don't have any big plans for this week - a bit of school work, slobbing about and NO SHOPPING IN THE SALES!!!!!
Don't need anything, don't really want anything, can't afford anything!

WelshWoofer

After a boozy evening with friends discussing the New Year and plans for it I've decided to make a list of what I want to acheive this year from financial aims to more personal things.....

1. Have a booze free January (always try to do this)
2. Lose a stone - am feeling chubby
3. Pay off half of the loan (as described in an earlier post)
4. Do the mile long open water swim in the Lakes in the Autumn
5. Use up all of the cosmetics and smellies I have
6. Save a little stash of £500 in an emergency account
7. Put £2 a week in a pot for Xmas next year
8. Not use the credit card at all - have managed that this year
9. Get the hall decorated
10. Get the front porch thing fixed
11. Price up and save for shower room renovations
12. Stick to writing shopping lists and meal plans

Some of these are short term and others are more of a wish list to try to work towards.
So better get cracking!

WelshWoofer

I am seriously drooping now - I never sleep properly after having a drink but in contrast to the OH I have acheived a few things today...

• Taken dog for 2 walks - 1 was a big 45 min trek designed to blow my cobwebs away but succeeded in shattering me!
• Bathed the dog
• Hoovered and dusted house
• Changed bed and washed the dirty bedding
• Done a little stocktake of the fridge to see what needs to be eaten up soon
• Looked at the month's budget to see where I can possibly save some cash - not an easy task!
• Put the bins out - binmen came today:T

I will also do a proper inventory of the food situation this afternoon to see what we need to buy on the weekend for next week. The diet starts on Sunday/Monday so I'll need a proper meal plan and shopping list. I don't want to spend more than £50 and a lot less would be very welcome! I'm a veggie, OH isn't and we eat different meals quite a lot so budgeting is difficult sometimes, especially with the dreaded diet about to commence!

Today's tea is sausage (from freezer), egg, beans and chips - not very adventurous or gourmet but we're both fed up of cooked dinners and fancied a change - all from freezer/storecupboard too so no cost or spending today.

I'll put my first £2 in the tin today too for next Xmas - start as I mean to go on!

OrangeFairy

lol! Sounds like you have done quite a lot today taking into account you must feel quite rubbish!

Love you goals! I need to save radically this year! The first 4 months towards the wedding! Then probably a coupld of months paying off a couple of bits after the wedding then the second half of the year will be getting rid of all debt other than the loan - hopefully will be able to start overpaying the loan before xmas!

Hoping for a homemade xmas (for a big chunk of my presents) in 2011. We buy for so many people this should help out a bit! I hope to make various presents through the year!

Good luck in 2011 xxx

WelshWoofer

Hi Littlekel! Good luck with the wedding - I got married about 18 months ago and did enjoy it but the faff leading up to it almost made me think twice!

Managed to list an unwanted Xmas present on ebay last night with a Buy it Now and someone did - buy it then I mean! That's £22.50 extra for the little saving pot with the £500 target - up to £42.50 now!
I might list another unwanted gift today and see how that goes?

My mum also bought me a top for Xmas that I know I won't wear but I don't want to hurt her feelings asking for the receipt so I'll try taking it back for an exchange today - worth a try?

I'm off to have my hair cut and coloured this morning - needs to be done before I go back to school - and will pop into the library while I'm there.

Right better get on with it!


ETA - an accidental NSD yesterday - didn't go out apart from dog walking so no spending!