We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Walking the walk...
Comments
-
Hi Emma - quick question, you said previously that you have enough coming in to get through a month AND save as well - in which case, do you actually need to use the credit cards, or do you end up spending on them purely because you've gone over the budget by spending on "stuff" you don't need?🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
why dont you cut the credit cards up to save you from spending on them? then you'll have to stick to budget!0
-
why dont you cut the credit cards up to save you from spending on them? then you'll have to stick to budget!
Yes, that was pretty much what I was hinting at!
🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
EssexHebridean wrote: »Hi Emma - quick question, you said previously that you have enough coming in to get through a month AND save as well - in which case, do you actually need to use the credit cards, or do you end up spending on them purely because you've gone over the budget by spending on "stuff" you don't need?
Hiya,
Its because we either end up blowing the budget, then using the savings money then using the CC's, or have to keep the savings for something in particular so use the cc's to get through the month. We basically dont manage our money so its our own stupid fault that we're in this position in the first place :mad:
E x0 -
EssexHebridean wrote: »Yes, that was pretty much what I was hinting at!
I know, its obvious! Its so stupid though, but im scared to as thats always been the 'safety net' - something to fall back on if we get stuck! We dont spend on the 'big' balance cards (DH and I have one each which makes up the 13k debt) because we have never looked at the pin numbers so cant, but I find we spend on a littler balance card - then end up adding it to the big cards which are on 0%. Its the little card that is the 'fall back' option at the minute, but I really need to stop depending on the card!
For a first step im going to leave the card in the drawer at home rather than in my purse. Im more of an impulse spender. We like to have something for when we go on holiday in case of an emergency - we never use it abroad otherwise, but when I get home its getting cut up!
E x0 -
In terms of budget, I havent done a SOA as yet, but the way DH and I manage is by paying all of the bills and mortgage out of his salary, then my salary is for the food, petrol, savings and cards etc, as well as some small direct debits. The budget is basically as follows:-
In: £1760 net
Outgoings:
Food & petrol £520
Savings £500
Card repayments £450
Car payment £160
Mine & DH's mobiles £60
DD's £50
bal £1740
I always leave a little extra in the acc to cover any extras etc. From July the savings money will be paid off the holiday/emergency card and once until thats paid off.
Emma0 -
I suspect that if you don't take the plunge and cut the cards up this cycle will continue. I KNOW it's scary, but I can't see any other way in which you can break the cycle, can you? Alright then- compromise for you - got any room in your freezer? You need an ice cream box, the card, and a stone. Half fill the box with water and freeze. Once frozen hard, pop the card into the middle, weight it down with the stone, and fill the box the rest of the way with water before popping it back in the freezer. For an absolute emergency the card is still there, but it's going to be a good number of hours before it's accessible for use!
Your food / Petrol budget - have you split it down? ie, how much are you spending on fuel, and how much is food? Might help you see where savings can be made.
ps - a BIG ice cream box - no cheating with a little one! 🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
Its been a copule of months since I last posted. Although I havent been here we have continued to chip away at the cc's. The dreaded safety net card is gone (cut up - not paid off!), so the debts can only go one way - down:T Feel quite liberated actually!!
Its was DH's birthday in June, and I actually paid for his present with cash! Havent done that in a while!
So im reading through other diaries, and its getting me even more motivated than I was to get this debt reduced!
My interim date is Christmas - Im hoping to have the barclay card down to £4000, and the virgin card paid off and closed (my present to myself).
Its pay day in 2 weeks and I cant wait to make payments off the debts!
Anyway, off to read somemore diaries then bed.0 -
I love Saturdays! Although today its rained hard all day! Have been food shopping - went through the cupboards/freezer at home first to see what I already had, and therefore managed to get the shop for £48. Thats a weeks worth of meals and packed lunches (although I will probably need to top up on fruit around Tues/Wednesday but that will only be £3/4). Im really please wth that - we usually spend way more!
Just baked potatoes for tea as hubby is going out, but as he is going to a friends house, its a free night other than his taxi home which will only be £5/6. Ive treated myself to a bottle of red wine and some roasted nuts and crisps for later in front of a DVD. Im looking forward to the peace and quiet!0 -
Just dropping in to say hello
Do you keep a spending diary? I keep mine on my diary here and find it's very helpful. Makes you think twice about spending if you know the whole world (well anyone who looks on here) can see you're just spent another £5 on whatever you "waste" money.
Good luck x0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards