Blinded by the LBM...!

hillside777

What kind of figures do you have n your spreadsheet? I think mine is too simple.
Do you have all your payments planned out and descending balances until the loan/card is paid off?

I think I need something more to motivate me. I have used the snowball calculator.

I was very good today and managed not to buy a coffee this morning at work. I took lunch but unfortunately ate this early on and ended up buying sandwiches. :mad:

Beencounting

Hi Bonnington

It's been an evolving document for a long time!

There are three pages which I consider the most important:

• the budget, with projections for at least six months - I adjust this periodically for known changes
• another page with this month's budget and actuals recorded. This sheet also estimates my closing monthly balance so that I can see if I need to generate more cash/cut back before the end of the month
• the third sheet shows my CC balances and my minimum repayments

I used to do a simple snowball, but found it demotivating as the figures stretched so far into the future, so now I find it better (for me) to just concentrate on reducing one card, without paying undue attention to the others...their turn will come

Been

wot-a-mess

Beencounting wrote: »

I used to do a simple snowball, but found it demotivating as the figures stretched so far into the future, so now I find it better (for me) to just concentrate on reducing one card, without paying undue attention to the others...their turn will come

Hi Been, I found the snowball a very useful tool in showing the power of numbers but also found it pretty demotivating as well cos the end goal was just way way way too far in the future. Have therefore concentrated on 2 debts which shall hopefully be wiped out next year.

I do too many spreadsheets at work & spend far too much time on computers so just write the personal debt & budget stuff in a book. Funnily enough I also have 3.. exact same as yours.

Beencounting

Hi WAM

I'm hoping to have at least two of my CC debts cleared next year too. After those, it will be on to the bigger ones

Been

Beencounting

Well I was hoping for a NSD today, but our kettle has decided to give up, so will need to get a new one lunchtime :mad:. Still, on the plus side, I can fall back on the emergency fund to cover it, after all, that's what it's for .

Shopping last night was over budget at £66, should have been nearer £45 . I'll need to balance this out by the end of the month.



Today I'm going to:

• Ring DDs landlord re address (should've done this yesterday)
• Send cheque to landlord
• Pick up a new kettle at lunchtime
• Update CC balances on the spreadsheet
• Transfer money from savings to cover Christmas spends so far
• Update the Make £10 a day challenge

Not too much today as I'll be out this evening collecting my Av0n books, hopefully there will be some orders so I can add more to my Make £10/day challenge figures .

Been

chevalier

I have just read your diary, well done on busting your debts. It is hard getting everything into a budget. Ref the childrens gym stuff and sports stuff, could they get a little paper round or something so they are paying for this themselves?

chev

Beencounting

chevalier wrote: »

I have just read your diary, well done on busting your debts. It is hard getting everything into a budget. Ref the childrens gym stuff and sports stuff, could they get a little paper round or something so they are paying for this themselves?

chev

Thanks Chev .

Both my DDs now have p/t jobs, although the younger has only recently started. My DS, who is the youngest, has his name down at the local newsagents for a paper round, but no luck as yet.

On the plus side, I will be spending relatively less on clothes for my DDs as they tend to spend their pay on clothes, although of course they won't buy the 'necessaries', ie, school uniform stuff .

On balance though I think I'm gaining, it's just it all seems to have come at the same time .

Been

Beencounting

We received our final bill from BT yesterday (we're going over to Orange). They'd already written to tell us that there would be a fee of £22 for breaking the contract before the end, but as it turns out we're £42 in credit :T.

As soon as it's credited to my account, I'm going to make another payment to the target card of £20ish. I'll be keeping the rest in the current account as it then covers the cost of the new kettle yesterday .

Been

banwa

Beencounting wrote: »

We received our final bill from BT yesterday (we're going over to Orange). They'd already written to tell us that there would be a fee of £22 for breaking the contract before the end, but as it turns out we're £42 in credit :T.

As soon as it's credited to my account, I'm going to make another payment to the target card of £20ish. I'll be keeping the rest in the current account as it then covers the cost of the new kettle yesterday .

Been

I wish loads of people owed me refunds.:D You're doing great at getting all this money back:T

Beencounting

banwa wrote: »

I wish loads of people owed me refunds.:D You're doing great at getting all this money back:T

Thanks Banwa it's only as a result of the MSE changes we've been making :money: , but very welcome also .

I don't think there will be any more after this month, apart from a cashback cheque for DS' new phone, although the plan is to use that money to re-dec DD2s bedroom, which is in dire need of a refresh .