Debt Free By 30-ish Diary

bobbie78

OK end of the month tally up I think.

food allowance 120
Groceries - 79.95
eating out/star bucks - 40.21
total = 120.16

so I only went over the food budget by 16p and that was with me not monitoring it closing just re-evaluating what I was getting when shopping.

petrol 60
total = 76.65

I'm over this month but I'm so busy working next month so no chance to go to Sheffield so I doubt I'll use more than a tank full if I even buy any more so that evens out on the SOA

mobile 40
total = 55.01

very bad but that has been needed, I don't have access to a land line and haven't figured out a way to call 0845 or 0800 numbers cheaply. Now I have a work mobile again though I will try and use that for these types of calls.

Amount put aside for car tax birthdays etc = 189.16

very good (it is a lot as tax is due in april)

Time and money not spent smoking = One month, four days, 5 hours, 43 minutes and 3 seconds. 528 cigarettes not smoked, saving £118.93. very good

I called the inland revenue today and even though when I talked to them in November asking if I could cancel the dd (as that is when I thought it ended) they said I had to pay till the end of the year, they added it up again and they owe me 84.92. I'm having to reclaim this through my bank though stating they claimed to many DD's but I should have the money by next week. So I'm adding that to the Gold challenge as it is money I claimed back I wouldn't otherwise have had.

I've so far had 63.11 profit from selling on amazon, and made 50 from mystery shopping this month minus expenses. I also have last nights overtime but I think I'll wait for that to come through to see how much the tax will be.

So gold challenge so far for January = 198.03 :T

Debt total on 01/01/07 29311.23
Debt total today 28487.70

Amount paid off - 823.53

Now that isn't bad, I thought it would be less than that as I've been hoarding the money from axa/redundancy until it all comes through to try and pay off the biggest loan. Next month I'm hoping to knock at least 10k off that figure but that will be a one off. I will try and do the food challenge properly this month and try 100 this time I know it should still be less than this but targets have to be reasonable.

bobbie78

GettingThingsDone wrote:

Hi Bobbie - keep up the hard work.

Sounds like you're making some real progress. I'll keep an eye on your thread. Out of interest, how long have you got until you are 30? I managed to clear my debts before I was 30, but I didn't have the wisdom of this site to keep me on the straight and narrow.

I'm 30 in 358 days so not long at all but as long as the work keeps coming it is not impossible

GettingThingsDone wrote:

I set up a ltd company over 10 years ago to originally pick up work through agencies. I don't do agency work any more but I still run the ltd company, so if you have any questions, I can try and answer them It is how I paid off all of my debts and saved a substantial amount of money...

When I started out I found out an interesting rule - generally the first agency you work for will try and screw you over. Do whatever it takes to find out the agency's cut.

Anyways, happy birthday for the other day and did I hear something about biscuits?

When I started I did it knowing that the agency/umbrella company etc would all end up taking advantage, but if I didn't start doing it I never would. So better a few people take advantage in the first year while I find my feet then I'll know how to play them at their own game. Thanks for the advice though I might drop you a PM soon about the LTD and my first step of taking control of that side of things.

There are always biscuits, even when being a DFW there are things you just can't give up, I gave up smoking so there is no way I'm giving up chocolate too, not just yet anyway.

bobbie78

Found out today my contract is ending early so after finally getting the contract signed they are giving me 3 weeks notice so I will have been there 3 months which is pretty standard. So I'm holding of paying off the car loan until I know I have a new contract sorted so I can live on that money if I need to. Possibly have something lined up though waiting to hear tomorrow if I can get an interview or not, it will be a 6 month contract again but on a slightly higher rate than I'm on now so if it works out I'll have to make sure I do my LTD in the next few months to stop me having to pay too much higher rate tax this year. Keep your fingers crossed for me.

bobbie78

Feeling slightly better today but stuck in weird sleep pattern which means I'm just off to bed in a bit. Everything is just on hold really until I can get a new contract sorted out. It is good I have a couple of weeks notice of it ending but in a way it is easier to find a new job if that is all your doing, especially with fielding phone calls from agencies.

Went on a weird flu inspired spending spree this past few days. Yesterday I ended up spending 25 quid on stuff I didn't really need, 3 books - 1 of which it turns out I've read already, 5 quid on comic relief stuff, 3 quid on some earrings, and a couple of quid on food I shouldn't had. Also while I've been sick this week I bought a ruby ring from gemstv which I shouldn't have. I need to be more aware of when I'm ill and tired so I stop thinking every idea I have is an amazing idea. The ring was 47 quid but I justified it to myself that I've saved 3 times that by not smoking (currently non smoker for One month, two weeks, one day, 18 hours, 19 minutes and 56 seconds. 701 cigarettes not smoked, saving £157.83), the fact when I was 25 I spend months looking for a ring to buy with money I'd saved especially but then had to spend the money on the partner at the times bills so didn't get one. So it all seemed a good idea at the time. Well neither of these things are the end of the world, and I do like the ring now it is here. I just need to read the books and flog them on amazon, and get the ring appraised so I feel better about the good deal I got.

I have been rough as a badgers behind this week though and fainted at one point this week, probably as I'm not really sure the last time I ate a proper meal. Well no on friday I had a foot long meatball sandwich from subway on special so that would have done some good, but the rest of the week is a blur really. I have to go into work tomorrow to get the rest of my time sheets signed off at least, I need to know they will pay me for the work I have done. I could just do with another week in bed really, or for someone to come make me cups of tea or something.

bobbie78

Well today is a bit of a rain stopped play day. I only woke up about 6pm and I probably could have slept through till morning really. I've managed to stick some washing on though so I have some clothes for work this week. I have two mystery shops this week too that I must remember to do. Today will be a NSD just as everything is shut now I guess. I'm still not properly awake as you can probably tell but I need to apply for some more jobs today to make sure I have something by the time my contract ends. I've found if I apply for 25-30 jobs a day through different agencies after about 1-2 weeks I might get 1 interview. Oh how I hate agencies. Well I just hope the one I really want which I got put forward for on Friday wants to interview me this week, that would make my life so much simpler (well apart from the staying in hotels all week and commuting but it would be simpler and possibly better paid).

OK I should probably remember to eat something that might help a bit towards waking me up and stopping me applying for jobs in Australia, I don't understand why they end up mixed in with the other jobs even though I pick UK only. I'm sure if I applied for them they wouldn't take me, I don't know what visas you'd need but I hate getting excited over a job description then realising that a commute that far every day is just slightly too far away.

ZTD

bobbie78 wrote:

OK I should probably remember to eat something that might help a bit towards waking me up and stopping me applying for jobs in Australia,

Well that could also be connected with your "weird flu inspired spending spree" as well. Could be illness and not eating acting together perhaps?

Go straight to kitchen. Eat now. Do not pass Go.

bobbie78 wrote:

I'm sure if I applied for them they wouldn't take me,

Oh yea of little faith...

bobbie78 wrote:

I don't know what visas you'd need but I hate getting excited over a job description then realising that a commute that far every day is just slightly too far away.

Then don't commute...new life - new opportunities?

bobbie78

Ok ZTD you caught me I hadn't gone to get food yet. I'm going now. I am, no really.

My parents were on at me to move to Australia the other day, as apparently if I live there then they can emigrate as they are related to me but I've never been (parents have) nice to know they are looking out for my well being and not just what they want.

I think I'd rather stick to earning pounds in this tax year, then look at other contracts in different currencies next year maybe, need to get used to the uk tax stuff first before mixing in other countries really.

Anyway ok I'm going to get food, read one of the books I bought yesterday and try and go back to bed round midnight. :A

ZTD

bobbie78 wrote:

Ok ZTD you caught me I hadn't gone to get food yet. I'm going now. I am, no really.

Yes...really... :rolleyes:

bobbie78 wrote:

I think I'd rather stick to earning pounds in this tax year, then look at other contracts in different currencies next year maybe, need to get used to the uk tax stuff first before mixing in other countries really.

If you spend enough time abroad, then you will become a "non-resident" (depends on the type of work you're doing as to whether you need to go abroad). At that point, only your UK investments will be taxed, though you will be taxed by the country you are then working in.

Try Bahrain etc...

bobbie78 wrote:

Anyway ok I'm going to get food, read one of the books I bought yesterday and try and go back to bed round midnight. :A

bobbie78

Thanks for the advice ZTD I am still going to hang on working in the UK for now. I've made a decision - shock horror - and am going to set up my company. Do to the contract ending early and with the timing of when the next one will be I'm going to be registering the company name early next week. It will end up costing me nearly 2 grand for insurances setting up the company, accountants fees etc but that initial pay out should mean I'm much better off over the coming year. It is just hard learning all the different regulations, and I still am not sure exactly what I am liable for and what I'm not but this will all come with time and much more reading of different sites. I bought a couple of books yesterday which should help finalise in my mind all the things I'm still a little unsure of, those with the books I have already from the library should clear things up. That is until they change all the rules again as they keep doing.

So I've been a bit slack on MSE stuff but it is only because of living the MSE lifestyle since before xmas that I haven't spent on my credit card or increased my debts at all for which I am very proud and thank all of you fellow MSE'ers. So the next couple of weeks will be more focused on setting up the company and finding a new contract and extra web hosting/design work to help keep me outside of IR35. I hope once it is all done I'll be able to help others with this next step as I've already helped a few people that have PM'd me about working through umbrella companies and the way that all works.

Once the debt from setting up the company is paid (the first month I get work coming in) then it will be back to MSE on the personal side to help reduce the debts. I hope I can run the company as well in an MSE way and make a success of things.

I think I'm going to stop doing the mystery shopping though as my tax returns are going to be complicated enough without adding that in, so I will be doing my last job next week and just focusing on bringing more work in through the company.

Wish me luck.

bobbie78

OK end of the month tally up I think.

food allowance 120
Groceries - 122.86
eating out/star bucks - 85.73
total = 208.59 - very very bad have let this slide while I've been working 7 days a week sorting out setting up LTD


petrol 60
total = 51.99

More than I thought as I ended up going to Birmingham NEC for a startup show.

mobile 40
total = 47.25 - getting better

Amount put aside for car tax birthdays etc this month = 189.16

very good (it is a lot as tax is due in april)

Time and money not spent smoking = Two months, three days, 1 hour, 14 minutes and 53 seconds. 975 cigarettes not smoked, saving £219.55 very good


So gold challenge so far with overtime mystery shopping cleared payments and amazon dvd sales. £309.80

Debt total on 01/01/07 29311.23
Debt total today 27324.11

Amount paid off this month - 963.59 :T

Now that isn't bad, considering MSE stuff has gone out the window this month with mental starbucks spending, 2 hotel stays for different things to do with setting up the business, and also the account/incorporation fees that really isn't bad.

Today is the 1st official day I'm a company director of my own company and the last day of the current contract I'm working on. I'm hoping to hear any day about a new contract that will start in April and run till the end of the year so keeping fingers crossed for that. Starting the company has been a roller coaster of finding accounts trying to get my head around regulations and insurances, and I've had flu and currently have an evil head cold. So I'm away this weekend on an NLP course which was free through the referrals board, but I paid for a hotel (through quidco) to give myself a treat for working so hard due to the early starts and not wanting to commute to docklands every day for 3 days. I'm also away next weekend for god daughters 1st birthday party but that will be nice, but increase the petrol costs a bit. There is also a Sun Exhibition in london the week after so will have to budget for trains for that but that should eventually come back as expenses as it is for work.

I have submitted all the time sheets for current contract now but they will take 30 days to be paid then tinkered with by umbrella company then paid to me so won't see that money till next month. AXA have really messed me about and still haven't refunded one of the policies which is driving me nuts in phone calls as they need it in writing and keep loosing my letters even though the original one they have paid me the cancellation form for both was in the same envelope.

I'm going to stop mystery shopping as my tax return will be complicated enough from now on, and I need to concentrate on getting 'proper' work through the business but have a few possibilities lined up for web work. Some of the expensive things I've paid this month I hope to claim back as expenses e.g. incorporation / account costs and hotels etc so once I've got money coming in then I can pay myself those expenses back if the account approves it.

So holding off paying off the car until I have a new contract and have had first months money from that really as I need spare cash to pay for company expenses like insurance etc until I can claim them back. So depending on what work I get I don't think I'll pay it all off by January but I'll be well on the way if I can get my head back into the MSE way of thinking and trying to get on lots more business link courses/events in the next month if I do get the contract that starts in April.