Pink's 'hope I'm reformed' shopaholic diary

pinkarsenalprincess

So, a little back story I guess.
There was a time when I was very good with money. I always had money left in my account at the end of each month and always thought long and hard about any purchases.

Then my world was turned upside down when my best friend was killed in 2008. My way of coping and to feel 'close' to her was to shop....all the time. I amassed a hell of a lot of stuff (mostly clothes, shoes and jewellery) but never felt any better for it.

Cut to September 2010. I am looking to the future. I am in a brilliant relationship and want to start a family in the next few years. However, I don't want to start a family in bad habits and in a financial mess.

I have two O/Ds that amount to £4000. Relatively small, but I don't want them and I certainly don't want to be charged 19.9% interest on them! So I took the plunge and opened a card to do a super balance transfer. I have budgeted thoroughly and hope to be debt free this time next year.

I know it will take a lot of change from me. I need to get out of the old habit of spending every time I felt down and find other ways to cope with m ongoing grief.

Am hoping that posting on here regularly with my progress will really help. :A

pinkarsenalprincess

Forgot to add I also owe parents money from when they helped out with the mortgage deposit (bank suddenly moved the goalposts from 10% deposit to 25% deposit).

So I also have £4250 loan to pay back to my parents.

beanielou

Great news on the 0% card

pinkarsenalprincess

That has been the biggest relief. I was finding it incredibly hard to try and change my habits when I was always in my O/D even when making repayments. It always seemed such a wasted effort.

I look forward to budgeting with money in the black on my bank account and clearing the debt on the card.

Am still owed £500 excess on car insurance and whatever the compensation settlement ends up being...so that would be a huge bonus to come through in the next year. Is giving me added stress though, as the accident was 10 months ago and the insurance company are getting nowhere, despite promising me it would be sorted in 6 weeks.

elfen

Ooooh, you support the same footy team as me
Good things are getting sorted, but sorry to hear about the spending taking over, I've been there and I'm trying to work back out of it now.

pinkarsenalprincess

This balance transfer couldn't happen sooner!

Just had pre interest advice notice on my HSBC O/D...£123! So the £150 I paid in at the start of the month was pretty pointless :mad:

pinkarsenalprincess

Off to Lakside today.
Need some work trousers and to take some bits back. Hoping I can only do those things and not end up spending loads on stuff that I don't need.

beanielou

Blimey that a lot of interest on the OD.

pinkarsenalprincess

Yes, ridiculous amount. My O/D limit has always been £2000. It now appears to have been reduced to £1700 so I have been penalised for being £1798 in my O/D!

This MBNA card needs to bloody hurry up so that I can make the balance transfer and get the ball rolling. I will take great pleasure in walking into HSBC and closing down the account

The budget on excel is looking great...I just hope I can achieve it or even better it and end up with more money left at the end of each month to throw at the debt! :T

Every day when I get in from school I will be running to the desk to see if the card has arrived...so far there is nothing but I have my pin from friday so it should come soon I hope.

hedgesparrow

Hope it arrives soon. You have organised yourself really well.

I have been considering doing something like this with my overdraft now I'm not on a student account anymore but I am a bit scared of credit cards (or rather myself with a credit card!) Maybe I should bite the bullet and do it. I could always give my husband the card so I can't spend on it!

pinkarsenalprincess

Only been back at work for a week and already tired, fed up and wanting to spend money to make myself feel better

MBNA card arrived today....0% until next september and only 1.9% for my account transfer so yay! Have altered the spreadsheets to work out how much money this now puts me into the black and what payments still need to go out this month....then it is full steam ahead for the budget in October! Feels strange, as I haven't been in the 'black' since 2003 when I started university!