Debt free the Fly lady way - anyone?

bobble_hat

Hello all,

hope you had a good day.
Flylady way Day Five - Day 5: Tune in, turn on and tune out

I had my mobile phone off all day, I sent one text on the way home. It was one of those 'please send this on and back ones', I didn't send it on but did send it back, because the person who sent it needs a boost at every opportunity.

It is switched off again for the rest of today.

Mrs Bellamy - The fact that you are on here reading and responding to these forums is a triumph in itself. Give yourself a pat on the back and address one thing.

millionaire_in_training

Mrs B I know how you feel and I am sure everyone else does too. There are days I think woohoo lets do this and then I see years of budgeting and I get p***ed off. I keep thinking at those times that if my ex would just cough up some cash then I'd be fine but the reality is that he won't and the majority of the time I know that and accept it but at other times I hate him for landing me in this situation. I was talking to a lass in work the other day about budgeting etc for food and she said her and her husband have done that for years. She has recently bought a big house CASH!! That'll be me soon :rotfl: :rotfl: :rotfl:

mizmir

millionaire_in_training wrote:

I was talking to a lass in work the other day about budgeting etc for food and she said her and her husband have done that for years. She has recently bought a big house CASH!! That'll be me soon :rotfl: :rotfl: :rotfl:

And it will be.

I downloaded (free trial with piggypoints!) an ebook by a guy called Dave Ramsey - bit american but content interesting. His premise is that wealth can be created by anyone and the key to being rich is not borrowing - debt is the killer of wealth. True when you think about how much we spend on repayments and interest. If we had that in our pockets we would be rich!! He is very DFW-esque but has some interesting variations. First is that the first step in his "plan" is to build a small emergency fund (about £500). Even though this is money that won't be going off my debt I am going to do this - having learned the hard way this month how emergencies can jump up and bite - and it really is demotivating to add to the debt again. i would rather slow the payment a little and avoid this in future. His second step is snowballing debt but he goes for the smallest to the largest - to get the psychological advantage of seeing them disappear. Can see this but when I checked on the calculator this would add £2K interest to my debts :eek: so I'll stick with highest interest first! But once I am debt free I will be turning my attention to saving - I never want to be in this position again!

And what we are doing here is building the habits that will allow us to stay debt free and use all that spare cash we will have to save for what we really want - even a house!

mizmir

Ok - have been writing down everything I've spent and confessing each day to Moozie and friends! Have my spending e-diary at the ready for tomorrow. This morning wanted to phone OH (away with work) but thought of you lot and txted instead!

Thought I'd say all the good stuff before I admit the bad - I can't do today's challenge . Have to go to the vets today to pay the bill and don't have any cash to do it - so it will have to go on my credit card. In my defence - the card was cleared last month so there will be no interest on this for 50 days and I am going to prioritise paying it back first - hopefully will be a temporary solution to solve a cash flow problem. I will take all my other cards out of my purse though - haven't spent on them for many months!

Am I allowed to stay...? Please...? Will try not to say "no" again!

millionaire_in_training

aww miz dont worry I am sure without a wee savings cushion we will all have to 'do debt' at some point. I cannot bring myself to cut up my cards yet although I am going to try really really hard not to use them again. I just like the security of knowing that if I have a dire emergency then I have a way of getting out of it. I vote keep you in!!!!!! xx

This is because I went to M&S this morning and spent nearly a fiver on junk and need forgiveness

Maisie_M

Hi

I was reading this thread last night, and would like to join in this challenge. I know I am a compulsive spender which at present doesn't cause me any problems as we have a good family income. However, my partner and I are seperating and I will soon be on my own with a small child (amicable seperation) and therefore unable to keep up the extrvagant spending I am used to. Hopefully by doing this challenge I will learn to control my spending and therefore not end up in debt. Plus I would like to pass on good financial management to my child as they grow up, whereas at the moment i do tend to spoil them!!

Today I kept a note of what I spent which was £12.34 on some essential shopping(fruit, milk etc). I didn't go for lunch in town whilst getting the shopping, which I would normally do, as I knew I had plenty in the house for lunch (not that this would have normally have stopped me eating out:o ). So going to confess to this on the other thread and that will be day 1 & 2 completed.

jo_b_2

Maisie_M wrote:

Hi

I was reading this thread last night, and would like to join in this challenge.

Welcome to MSE, Maisie. :wave:

Good luck with the challenge and with your change in circumstances.

Gemmzie

Oops forgot to post.

Well the credit card is gone but then it was never used anyway as it was a BT card.

Phone gets left off / not used at least three days a week anyway (sad isn't it:rotfl:)

And I'd already done that to my book because I am THAT sad


Bring on Week 2

bobble_hat

Hmmm,

I forgot to check this this morning, this is actually the first day in ages that I've taken my cards anywhere with me. I had to buy a birthday present today. So although I didn't do this today, I've done this everyday since I went back to work after Christmas. I won't have any cards with me tomorrow. :T

mizmir

Last day of the first week for me - how is everyone doing today?

I haven't managed to get everything into my e-spending diary yet - will do that after work. But I do know I have spent a lot less this month than last month. :j:j:j

Will report on the damage later..... hope noone is getting too blown away today!