A Thread for After Debt?

Little_bit_dizzy

Hello

Just found this thread so have read fronm the start. Oh, I'm so glad I found you all so hope it's ok to invite myself in!

I finally became DF last year on 6th May after being in debt for 20 years. Like so many have said, I felt bad for saying it on here as I didn't want to appear to be gloating, so much so I actually removed it from my sig.

I then fell into the 'oh, go on - you can afford it now' trap and have actually been [STRIKE]a bit[/STRIKE] very extravagant, especially with gadgets. And grocery shopping. And eating out. And clothes shopping.

I've been saving too (so it's not all bad) but I could have saved so much more. I need to find a middle ground: have a sensible budget and stick to it, but have the odd treat too. I like the idea of bank accounts that allow you to have seperate 'pots'. I'll explore this a bit more.

Thanks everyone, you've made my evening.

JulieGeorgiana

welcome little bit dizzy. Congratulations on becomming debt free after such a long time. I think it's okay to be a bit extravagant after becomming debt free, and you should be proud that you managed to enjoy that without getting into debt again

Have you got any savings goals? ie. is there anything specific you want to do?

I think for me, saving for a deposit became my 'next thing' and having that keeps me on the straight and narrow! That and the fact that now I have given up work I just cannot afford to go wobbly!

Maybe an exotic cruise

rising_from_the_ashes

JulieGeorgiana wrote: »

I personally have a savings account, and a spreadsheet which breaks down the total amount in there into 'pots' for all my bits and peices!

All my yearly costs, or ad hoc costs are worked out yearly and split into 12 and that amount gets set aside each month into my 'pots'

I have 22 pots right now

See .... you're streets ahead of me!

The thought of it being in one "big" account scares me ****less!:D (but the lack of interest on several piddling amounts annoys me nearly as much!)

I really must try to get a handle on trying to do it on a spreadsheet - I think I'll try to run one for the next couple of months (whilst maintaining the individual pots) and see how it goes .....:eek:

Hello Dizzy, pull up a chair and make yourself comfy - glad I'm not the only one that had a bit of a "hiccup" in the first few DF months...... All under control now, thank goodness!

BUT .... it is hard to stay on the straight & narrow - and for me - so many things have been neglected for soooooo many years, the temptations are strong!:o Still, an overpayment of £45/month is now going into the bills account and this will be used for any decorating etc (which is sadly much overdue!).

Frodo thanks for popping by .... great to know it helps:) Honestly, if I can do it - anyone can!


Think I def need to make better use of this thread this year ....:)

AlyBaly

Hi Little bit dizzy and well done on becoming debt free !! You are doing well managing to have treats and save so as you say its not a bad thing.

I am also going too look at banking pots rather than my glass jar approach although I have to say it has worked ! LOL

JulieGeorgiana

Rising the interest is terrible! It's just an instant access savings! I get something stipid like £1.12 a month!!!

Phoenixbird

That would be a good place for me for two reasons.

Firstly, my ex husband used to run up debts and hide them (even when he was out of work and was taking money from his dad to cover our mortgage and spending it). I used to sort out the debts by doing all the mse things like shopping at Lidl and budgeting really hard, but even then he'd do things like go and buy a packet of pollos at tesco and take cashback on a credit card I knew nothing about. The bank statement would make sense because I knew what went through that. When we finally divorced debts that he told me were settled in a remortgage were taken out of the equity from the house. He was good at it (well, he was an accountant I suppose!)

Secondly, I'm out of work at the moment but not in debt (yet). But things have to change or I soon will be. At the moment I would be ok if there was work out there but there isn't (not for a woman my age anyway). OH gives more than he should into the kitty and my daughter was working and giving me something but has now gone back to college full time, so can't work (this is a good thing and what she should be doing). OH should be claiming working tax credit but just never gets round to sorting it out. In the meantime I can see a lot of problems ahead if really drastic measures are not taken soon.

There are things I could probably do now to avert total disaster this year, and it would be good to be able to talk without feeling I'm taking away from someone in greater need.

Just thought of a third reason - because of ex husband, I still have a real fear of opening post. So need to get over that!!!

Little_bit_dizzy

JulieGeorgiana wrote: »

welcome little bit dizzy. Congratulations on becomming debt free after such a long time. I think it's okay to be a bit extravagant after becomming debt free, and you should be proud that you managed to enjoy that without getting into debt again

Have you got any savings goals? ie. is there anything specific you want to do?

I think for me, saving for a deposit became my 'next thing' and having that keeps me on the straight and narrow! That and the fact that now I have given up work I just cannot afford to go wobbly!

Maybe an exotic cruise

Thanks for the welcome! Ive got a vague plan for either a) the Maldives or b) a safari in the summer of 2013. I'll be hitting 40 so i think I should spend the big day somewhere stunning :T

The main plan is to continue to squirrel money into Premium Bonds (someone has to win, it's tax free and it's a pain in the wot-not getting the money back out!) for the deposit for a Buy to Let property. Mr Diz & I live in a tied house with my job so we're no longer on the property ladder and would like to be again.

Good luck with the Braxton Hicks tonight...

Little_bit_dizzy

rising_from_the_ashes wrote: »

Hello Dizzy, pull up a chair and make yourself comfy - glad I'm not the only one that had a bit of a "hiccup" in the first few DF months......

AlyBaly wrote: »

Hi Little bit dizzy and well done on becoming debt free !! You are doing well managing to have treats and save so as you say its not a bad thing.

I am also going too look at banking pots rather than my glass jar approach although I have to say it has worked ! LOL

Thanks for the welcomes, what a lovely bunch you are

JulieGeorgiana

Pheonix Bird welcome. Why don't you do an SOA (either here or on the main threads in DFW) and we can see what you can cut back on. BTW you don;t have to be in debt to post an SOA, I wasn't when I did mine as I found MSE the month after I became debt free!

Also have a look at the 'up your income' board for more help.

Keep posting for support

Little bit dizzy those are two great goals... having them will definatly keep you on track. I am on a savings challenge for my holiday... if I find the link maybe you can join... it's all about trying to cut back in order to fund the holidays!

Pay for your 2012 Holiday the Old Style Way

Thanks for the wishes... keep sending them and maybe Roo will come

rising_from_the_ashes

Hi Pheonix a warm welcome ...... the post opening thing takes a bit of time to get over - TBH if I get an envelope with my bank's logo on, I still have an :eek: moment!

I got a letter from HMRC in December and it took me 4 hours to open it ..... (was sure it would be to say I'd underpaid) and it was actually good news as I got a small tax rebate .... so it's not always bad news when we get "official" post!:)

Going to have to head off shortly - back at work tomorrow & very unorganised!:eek: