Hi Thumbelina, thanks for coming back and sorry to hear that you're house-huntng and having a stressful time.
Can I recommend a thread to you? Debt Free by Xmas 2012 I think as your debt is quite low (although you're on a low income being a student) it might help you to reduce your spending.
Are you able to pay all your rent for the term upfront? This might help you as it'll mean you can't spend it. It's something my OH does and means when it comes to the month before end of term he doesn't have to worry about paying it.
Would you mind listing how much you've budgeted for things? Writing it down will give you a clear goal, maybe even use something like the envelope system where you put say £20 a week for food into an envelope, then only use that so you don't go over?
Being a student is tough and I've been there not so long ago. Trust me though, learning how to budget then is the best time as you can get into so much more trouble when the cash really starts to flow and you've no selfcontrol (like myself oops).
I'm off to Cardiff for New Years so hope I don't encounter that scary guy you mentioned previously. Enjoy the rest of the holidays. *big hugs*
Kerri
Diary: Getting back on track for 2013 and beyond
DEBT FREE 13-10-13 :dance::dance::dance::dance::dance: Beautiful daughter born 11.1.14
Mortgage: [STRIKE]£399,435.91[/STRIKE] £377218.83
Deposit loan from Dad: £9000[STRIKE]£10000[/STRIKE]
Sorry you've been through a tough time, hope you're bearing up.
Please don't be too disheartened about your finances, you are doing well on what you have. I imagine many of your student peers are still running up debt willy nilly at least you're planning to pay it off and budgeting and you've had your LBM which is a huge step in itself as well as this diary. Use this to keep you on track and let everyone help you
Santander 0% £1,529.94
Sainsbury's 0% £4,371.31 Total 0% £5,901.25 AIM: Pay off debt & simultaneously save for deposit to buy a house by Oct 2020. Mar Challenge: Stay within groceries & eating out budget.
Despite being fired, I got my student loan today, plus a payment from a bond, so I was finally able to pay off my credit card in total & also paid off Santa. This means my debt is now just my overdraft, and thats at -£1600. I have £456.48 in the black but I need to pay my rent and thats one lump sum of £1069.20. January is big expenses month. I have to put £500 in a savings account, I need another £100 for food and trains, £15 for the cinema card, £100 for the gym & paying for my ballet classes, and £150 for a new tattoo. This means at the end of January I will be -£408.52 before paying rent, and then I will be -£1477.72, but all my debt will be in one interest free place.
For Feb-May, my budget stands like this:
£15 on laundry.
£40 on transport (getting to/from class)
£40 on my contract phone bill.
£80 on food (i'll be doing meal plans/buying fresh)
£20 sushi / eating out. once a month seems a feasible treat.
£15 for the unlimited cinema card, because we go often enough that its feasible.
£20 for books/printing/uni supplies.
£40 for the gym/ballet classes.
I will be spending £270 a month, and my mother is giving me £300 a month to live off. Assuming I don't go over budget, that will leave me with £120 saved, and I will also get a Welsh Bursary from the university at some point of £338. -£1477.72 + £458 = -£1019.72.
In May I will get +£968 maintenance grant (-£51.72) and +£1300 loan (£1248.28) Then I will need to pay my remaining rent of £534.30, and that will leave me DEBT FREE, and with £713.98 in the black.
Use it up; wear it out; make it do or do without!
Total debt: [STRIKE]£2600[/STRIKE] [STRIKE]2155.55[/STRIKE] 1477.72 :j
That's a great plan have you cancelled the credit card to stop temptation? Are you planning on getting another job or just concentrating on studies?
Glad you're feeling so positive and I hope this term goes a bit better for you
Diary: Getting back on track for 2013 and beyond
DEBT FREE 13-10-13 :dance::dance::dance::dance::dance: Beautiful daughter born 11.1.14
Mortgage: [STRIKE]£399,435.91[/STRIKE] £377218.83
Deposit loan from Dad: £9000[STRIKE]£10000[/STRIKE]
Brilliant plan!! Debt free very soon! Well done, good luck with the plan!!!!
Santander 0% £1,529.94
Sainsbury's 0% £4,371.31 Total 0% £5,901.25 AIM: Pay off debt & simultaneously save for deposit to buy a house by Oct 2020. Mar Challenge: Stay within groceries & eating out budget.
Hey, its thumbelina_. I started a new thread under this username.
New year, new start sort of thing. Eager to get back on track. Thank you for all of your support, feel free to follow me as I try again. I miss you guys. xo
Replies
Can I recommend a thread to you? Debt Free by Xmas 2012 I think as your debt is quite low (although you're on a low income being a student) it might help you to reduce your spending.
Are you able to pay all your rent for the term upfront? This might help you as it'll mean you can't spend it. It's something my OH does and means when it comes to the month before end of term he doesn't have to worry about paying it.
Would you mind listing how much you've budgeted for things? Writing it down will give you a clear goal, maybe even use something like the envelope system where you put say £20 a week for food into an envelope, then only use that so you don't go over?
Being a student is tough and I've been there not so long ago. Trust me though, learning how to budget then is the best time as you can get into so much more trouble when the cash really starts to flow and you've no selfcontrol (like myself oops).
I'm off to Cardiff for New Years so hope I don't encounter that scary guy you mentioned previously. Enjoy the rest of the holidays. *big hugs*
Kerri
Beautiful daughter born 11.1.14
Deposit loan from Dad: £9000[STRIKE]£10000[/STRIKE]
Sorry you've been through a tough time, hope you're bearing up.
Please don't be too disheartened about your finances, you are doing well on what you have. I imagine many of your student peers are still running up debt willy nilly at least you're planning to pay it off and budgeting and you've had your LBM which is a huge step in itself as well as this diary. Use this to keep you on track and let everyone help you
Sainsbury's 0% £4,371.31
Total 0% £5,901.25
AIM: Pay off debt & simultaneously save for deposit to buy a house by Oct 2020.
Mar Challenge: Stay within groceries & eating out budget.
For Feb-May, my budget stands like this:
£15 on laundry.
£40 on transport (getting to/from class)
£40 on my contract phone bill.
£80 on food (i'll be doing meal plans/buying fresh)
£20 sushi / eating out. once a month seems a feasible treat.
£15 for the unlimited cinema card, because we go often enough that its feasible.
£20 for books/printing/uni supplies.
£40 for the gym/ballet classes.
I will be spending £270 a month, and my mother is giving me £300 a month to live off. Assuming I don't go over budget, that will leave me with £120 saved, and I will also get a Welsh Bursary from the university at some point of £338. -£1477.72 + £458 = -£1019.72.
In May I will get +£968 maintenance grant (-£51.72) and +£1300 loan (£1248.28) Then I will need to pay my remaining rent of £534.30, and that will leave me DEBT FREE, and with £713.98 in the black.
Total debt: [STRIKE]£2600[/STRIKE] [STRIKE]2155.55[/STRIKE] 1477.72 :j
That's a great plan
Glad you're feeling so positive and I hope this term goes a bit better for you
Beautiful daughter born 11.1.14
Deposit loan from Dad: £9000[STRIKE]£10000[/STRIKE]
Sainsbury's 0% £4,371.31
Total 0% £5,901.25
AIM: Pay off debt & simultaneously save for deposit to buy a house by Oct 2020.
Mar Challenge: Stay within groceries & eating out budget.
New year, new start sort of thing. Eager to get back on track. Thank you for all of your support, feel free to follow me as I try again. I miss you guys. xo
[July'12; £699.61] ♥ [emergency fund; £50/£500]