Nanny's "reigning in the spiralling debts" diary

Nanny.Ogg_3

Mini update - 15/02/11

I was brave today and went to see a financial advisor regarding getting a pension. He was super helpful, and pointed out a few other financial areas I should think about, including starting some savings (an ISA) and our life insurance policy.

He's finding a pension provider which allows relaxed payments for self employed people, and I'm awaiting an email with all the info. The scary thing? When I start up my pension that's another £25/week I'm not able to touch. Ho hum...

dollybeads

Hi there, what a lot you have achieved so far, and love your positivity. keep on truckin, every little bit helps.

I look forward to seeing how you get on. Dolly x

Nanny.Ogg_3

Weekly update (21/02/11) - Its been a good week!

Hi everyone,

Not much to report today, except that the debt is still going in the right direction. I've upped payments to my boyfriend to £45/week rather than £35 to help clear my debt to him faster. I also have a bit of a spidey sense that he is up to something (a good something) at the moment, because he's being a bit cheeky and coy, so we'll see what that's all about soon enough.

This week my projected spend was £245. My actual spend was £229!! It would have been £129, but I did something silly - I bought an Xbox Kinect for £100.... In my defence, it is somewhat sensible because before I began my budgeting I was spending around £10 a week on zumba lessons (as were my mum and sister), and the kinect has a zumba game. They're going to chip in for the game, and we'll meet up to play it 2-3 times a week. In the long run, its actually a good idea. Sort of.

All in, I've put it means that my overdraft now stands at:

-£500 (was £1000) with Halifax, -£480 with Barclays. (Hasn't changed)

I've got £230 and £80 coming in this week from customers, which will make my overdraft look like this:

-£190 with Halifax, -£480 with Barclays.

This will mean that by end of play on Friday, I will have halved my overdraft. GET IN!!!!

I'm a bit worried this week because its half term which means less business. I'm going to be making about £100 less than usual. Will have to really work hard to keep those debts down next week, wish me luck!!

maman

Just noticed your thread. Well done for getting things sorted:T One thing that occurred to me: it's very noble of you to be paying back your BF but rather than upping his payment mightn't he understand if you paid the banks off first? I was thinking that they may be charging you interest whereas he probably isn't?

ebayqueen_2

Hi ya Nanny og
How are you getting on. Hope all going well for you. We await your latest update.
E