My debt free journey, whilst still trying to have some fun!

Sharon87

I have a thread called 'give me a kick up the **** I need it'. Basically I've spent way too much on music gigs, work lunches and loads of other things. (SOA is on post 7)

I have about £4.5k of debt, and I'm trying to pay it off whilst still having some fun whilst I'm still young! I am also learning to drive to get more job opportunities as I work in TV and it's almost essential to have!

I have started a spending diary, started selling on ebay, sold my own phone on one of those mobile recycling websites and got what's owed to me from my brother and his girlfriend! (well her's is coming tomorrow )

I am still budgeting for some entertainment, whether it's cinema, (using nectar points for part payment of course), meals (with vouchers) or clubbing but not drinking much whilst out. I have gigs lined up that has already been paid for including Take That this Saturday

I'm trying to be debt free by Feb 2014 - as this is when the snowball calculator says I should be debt free. I'll try and aim for it to be before that though!

So wish me luck!

needingaccountability

I'm sure you can do it :T

Hovel_lady

Good luck!
Well done on sorting your finances out :A
Sounds like you're on the right path. A spending diary is excellant.
Enjoy the concert!

tigermoon

Sounds like you have a good plan - it's always good to have a plan!
I know what you mean about having fun while you're still young, I think you can it's just a matter of cutting back in other areas. I'll quite happily not buy new clothes/magazines/starbucks/drink on nights out if I can get to my riding lessons. That is something I just won't compromise on. I think in some ways it is a bit easier if you are young and don't have a family yet, it's not like you are not going to be feeding your kids if you go out to a gig.
Good luck with it - I'll subscribe and follow you with interest xx

Sharon87

Had a cheap night tonight, went round to my brother's had dinner there. I provided some food, so did they.

I also got paid for 3 days work I did and the money I was owed, which £40 out of the £65 went on debt, the other to my general spend account.

Things to do tomorrow, phone BSM asking why the money for my driving lessons hasn't come out of my account! It went out of the available balance, then went back in again!!

Also sorting out housing benefit overpayment and then sort out my housing benefit claim! I work temp contracts and claim JSA when I'm not working. This is the first time I've had to claim this tax year, even though I've done a couple days of work since my claim! It's really annoying having to fill in those forms to say you've done work. I have a new job starting on 1st July for 7 days straight, and potentially some work starting 12th July.

I'm meeting a friend tomorrow in Kensington (her idea), I'm going to try not to spend much money, maybe on some food but £5 max.

Sharon87

So that's my housing benefit overpayment sorted out now, and my Driving lessons have come out of my account. Bye bye wages! lol

Now to sort out my housing benefit for these few weeks of unemployment then sign off tomorrow... it's so annoying work short term contracts!!!

Sharon87

So yay! I had a half a days work today, something I didn't expect, plus I had a driving lesson, made some good progress and stalled the car a lot less times than usual! I'm enjoying my driving lessons, got my next one in 2 weeks though, due to work and other commitments. I've mastered reversing into a bay (well left, almost there with right)

I've also got £150 back that was owed to me.

The only bad thing was going into M&S after work to get food, as I had very little time travelling home from work and my driving lesson. I have a challenge ahead of me this week, working 7 days just off of Oxford Street! There's so many nice places to eat at lunch time, and then there's the shops... I really want/need some summer shoes like sandals, I have a pair of ballet shoes I can't wear without socks/tights and a pair of converses, that's all the casual shoes I own! I may have to buy some sandals, but my budget is a tenner, see if I can manage that. New Look has a sale on I saw today. I need to find my old sunglasses too, my new ones are already breaking! Otherwise I'd be tempted to buy another pair! (already bought 2 cheap pairs this year!) Bah.

I'm off to get a cold icy drink and jump in front of the TV before my housemate gets home to hog the telly!

Sharon87

Here's the SOA I posted previously in my other thread. I've made some changes since making it, like the entertainment will no longer be £100 a month!

Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................

Monthly Income Details
Monthly income after tax................ 1000
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1000

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 510 - all bills included
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 22
TV Licence.............................. 0
Satellite/Cable TV...................... 4 - my share of Premier Sports
Internet Services....................... 0
Groceries etc. ......................... 100
Clothing................................ 30
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 80
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0 - haven't had one in I don't know how long
Entertainment........................... 100
Holiday................................. 0
Emergency fund.......................... 60
Driving Lessons......................... 100
Total monthly expenses.................. 1026


Assets
Cash.................................... 450
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 450

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly.. .APR
HSBC OD........................1250......18........19.9
Halifax CC.....................1840......18.4......0
Natwest OD.....................350.......3.........19.9
Brother - Argos Card...........495.......0.........0
Mum............................660.......0........ .0
Total unsecured debts..........4595......39.4......-


Monthly Budget Summary
Total monthly income.................... 1,000
Expenses (including HP & secured debts). 1,026
Available for debt repayments........... -26
Monthly UNsecured debt repayments....... 39.4
Amount short for making debt repayments. -65.4

Personal Balance Sheet Summary
Total assets (things you own)........... 450
Total HP & Secured debt................. -0
Total Unsecured debt.................... -4,595
Net Assets.............................. -4,145

I've calculated my income this month at £974 including what I've sold on ebay. It's been a very slow month work wise compared to the last 2 months! July is set to be busier though. My credit card is now below £1800 at £1790. So £50 paid off it recently. I've also paid some money into my overdraft and savings (to pay off argos card debt when the 0% is over). Once I've got a few hundred quid saved up to pay off Argos card I'll put it into HSBC account and then leave the card at home, which I should really be doing at the minute! That's another thing I should be doing lol.

Wish me luck!

djdymond

hiya! ive read your diary and the thred you started before and i think youre doing really well! keep going!! I thought there were a few comments on the other thread from people i thought were a bit harsh or a bit over the top, like the comments about buying pimms!! nights out are bloody expensive, so a bottle of booze thatll last months is a brilliant thing to do. you have to look at the whole picture and still live a little!! i have book marked this diary and am very tempted to start my own ( i have no debt but need to save for my 2nd baby as i wont be working for a year) and ill be checking on you!! oh where abouts was the concert in croydon as i live there myself! xx