Floozie banishes the evil elves in eleven.........

Intergalactic_Floozie

Hi guys - new diary! New Motivation!

Although I guess Xmas is maybe not the best time of the year to do it eh?

Unfortunately despite this being my third stab at a diary, the credit cards have got the better of me and I am owing approximately £8K because I can't stop spending!

Currently have four credit cards, two of which I am spending regularly on.

Halifax Clarity Card - 12.9% - £2072.15 - 1% minimum payment.
Halifax Clarity Card - 12.9% - £3118.11 - 1% minimum payment.
Tesco Credit Card - 14.9% - (say £900) - 2.5% minimum payment.
HSBC Credit Card - 0% for 13 months - £1888.17 - 2.5% minimum payment

[STRIKE]I'm going to try and get them paid off in 1000 days (just under three years) and am going to try and pay £10 per day every day minimum[/STRIKE]) no point in setting unrealistic targets, will just go with the flow

BUT (and there is a but). It wont allow me to maintain any savings so I WILL be spending on them for stuff like car insurance, car repairs etc...so there will be months when they DO go up in total.

However I hope what it will stop me doing is spending on un-necessary things such as Cardy Uggs, clothes and make up.

Due to start a new job hopefully in the new year (if the CRB ever gets their acts together) and it's in the middle of nowhere with no impulse spending opportunities, so I think that should help with the random spends. However I think there is a subsidised canteen....(no confirmation of that yet, it's just an inkling).

So let's December be my practice month in preparation for 2011, 2012 and half of 2013?

Intergalactic_Floozie

Days of Padding: 1 / 1000

Days to payday: 18

Money in Bank: £915.24 (have put all my savings into my current account)
DH's money left: £110
Petrol Money: £34
Groceries Money: £180
Wedding Present Money: £30
Activities Money: (paper bill, window cleaner, football) £32
Padding / Xmas / Other Spends: £529.24

Things to do today:

1. Colour hair.
2. Look in cupboard, match presents bought up to people I need to buy for (Xmas), think about what to get those people I haven't got stuff for yet

PADS: £10 to Clarity Card in my Name / £50 to Tesco CC (wasn't sure what min payment was as can't find statement)

mooomin

*subscribes*

Yay to new motivation Better to have it before Christmas than after, when that pesky guilty feeling bites you in the erris

As regards impulse spending....try asking yourself how you'll feel about the purchase the following day. If the answer is "guilty" then don't buy but if the answer is something else such as "happy that my shoes don't have holes in them" then maybe that's ok. Try wiping your credit card information from websites where it's stored (I know Amazon do that, so it's too easy to spend!) and then cut up the ones you're not spending on.

Choose one card that will be your "Spends" card for things like insurance but freeze it. And I do mean freeze it. Put it in Tupperward, cover with water and put it in the freezer. You'll need to defrost it to buy anything which will help confound the Spendy Elves.

A word of caution though...don't set yourself a target for PADding, just PAD what you can honestly afford. What would be the point in PADding £10 per day when you'll add £500 on in insurance costs? Budget for these instead.

How's about a wee SOA for those of us who like that sort of thing?

Jox

I know it's hard to stop spending on CC's, but good luck!

natsplatnat

*subscribes SuBsCrIbEs SUBSCRIBES*

moo2moo

Whoo hoo you're back!

Perhaps my maths is a wee bit screwed but £10 per day for 1000 days is 25% more than your declared debt. I've heard of covering all eventualities but still......

Do the PADs include your monthly minimum payment or is that over and above?

Intergalactic_Floozie

moo2moo wrote: »

Whoo hoo you're back!

Perhaps my maths is a wee bit screwed but £10 per day for 1000 days is 25% more than your declared debt. I've heard of covering all eventualities but still......

Do the PADs include your monthly minimum payment or is that over and above?

No, doesn't include the monthly minimums (which are around £100) and the 1000 days will allow for when I have to put car tax and insurance on etc..

FF - I have to do this as 'all or nothing' rather than trying to budget, I'll just get all horribly confused. As least I am just putting all the money in one place

mooomin

Intergalactic_Floozie wrote: »

FF - I have to do this as 'all or nothing' rather than trying to budget, I'll just get all horribly confused. As least I am just putting all the money in one place

Fairy muff, whatever works for you

I'm going to be doing that as of debtfreeness. All my PADding will be going to savings so that I can pay for things like insurance. I've been lucky before - annual bonuses pay for things like holidays and insurances, but I can't rely on that this year and need to save tax/insurance money by March. Eep!

Intergalactic_Floozie

Days of Padding: 2 / 1000

Days to payday: 17

Money in Bank: £874.62
DH's money left: £110
Petrol Money: £34
Groceries Money: £160
Wedding Present Money: £30
Activities Money: (paper bill, window cleaner, football) £32
Padding / Xmas / Other Spends: £508.62

Today's pad: £14 to Clarity Credit card in my name. Consisting of daily tenner, and £4 obtained from doing DS1's paper round because he had slept out.

Yesterday's spends:
2 x rounds of drink in pub = £7.50?
£20 on groceries (well, it was around £19 but have lost receipt)

chevalier

welcome back. well done on stopping the descent down the slippery front. Could you just work with cash, ie take out x on monday and when it is gone it is gone?
chev

mooomin

Intergalactic_Floozie wrote: »

£4 obtained from doing DS1's paper round because he had slept out.

:rotfl::rotfl::rotfl: