A Thread for After Debt?

backinbusiness

rising_from_the_ashes wrote: »

easy to slide back into debt again which is probably one of the reasons I'm so paranoid about keeping track of spending!:o Yup, so identify with this. Still can't part painlessly part with money even 18 months after dfd.

I think the final straw really is that (like many), I've not had a pay rise for over 3 years now and when everything's gone up so much, "spare" money is being squeezed all the time. This sucks. I've had small rises, but not anywhere near inflation.

As DM said the other day, most people have an OH to help with mortgage / bills which I sadly don't - house costs take up a big proportion of my salary so ....... But hey-ho, that's life! Ditto here - but remember the joys of eating a Pot Noodle straight out of the pot with no cutlery and no-one to tut at you. No? (Just me then . . .)

I do have an "anything else" fund which is a new addition to the "others" pot - hopefully it'll build up a bit over the next few months (not a lot to put into it each month!) - I'll see if I can stick a wee bit extra into this! You and your pots. 'Nuff said

I guess I was a bit down as I did nearly have enough to get the table in the "last ditch emergency fund" (the more pressing need of the 2:rotfl:) - but that's going to have to be used to pay for Maisie's op ...... Hopefully a routine one?

SOA was redone last week and does show a surplus:T - but it's ever decreasing as I've now added dog walker, dog insurance etc etc to it (but she's worth it:)). I am telling myself that too whilst picking up about 3" deep worth of shedded dog hair from my living-room carpet. Who knew one little collie could produce so much!!

Anyway, sorry long post again - hope everyone has a lovely Sunday & if you're having celebrations for the Jubilee, hope it stays dry!:)

Not much doing for the Jubilee up our way, but enjoyed watching the flotilla on the Thames. Enjoyed the penultimate "Desperate Housewives" even more tho'

Sorry you are feeling scunnered just now. It can be a real drag sometimes. I know that I am getting bored when I take the notion to rebuild my spreadsheet from scratch. A pointless exercise really, but seems to quiet my mse mind!

Take care - BiB

My message is too short?? I don't think so

RatRaceToFreedom

Hi All,

I agree that a poost debt board is a good idea. I am still on my journey but am moving more into saving and investing as the debt is nearly gone.

I have created my own 10 steps to financial freedom, the first 5 deal with identifying your goals and getting out of debt. The last 5 are about building up investments and getting passive income (dividends, BTL rent etc) but I haven't documented these yet.

I have only documented the first three steps so far but these were certainly the hardest:

1 Conceive, Believe, Achieve
2 Make Money Be Happy
3 Spend Less Than You Earn

Yes its all common sense but its easier said than done and hopefully these practical examples of what I actually did will help people. Once I got going and outlined my goals (the reasons for getting my finances under control) over the next 2 years I managed to reduce my outgoings by £550 per month.

The reason for doing this is that I feel there is a gap for people who aren't in severe financial difficulty, but who feel they aren't in control and are unhappy as a result.

Saving and investing is the fun part after getting out of debt and the reward for all that effort.

As a new user I can post a link to my blog but it is RatRaceToFreedom dot com

Regards,

RRTF

Mort

rising_from_the_ashes wrote: »

but it means I'm back to the really tight budget = easy to slide back into debt again which is probably one of the reasons I'm so paranoid about keeping track of spending!:o

Sliding back into old habits worries me also, the only advantage I can see that I have is that the financial routes that got me into trouble (credit cards, loans and overdraft) are not available to me.

rising_from_the_ashes wrote: »

I think the final straw really is that (like many), I've not had a pay rise for over 3 years now and when everything's gone up so much, "spare" money is being squeezed all the time.

Ditto my last pay increase was in 2009 and due to a number of changes I probably wont get another until 2014 which will be around the time when my job will be reviewed for outsourcing again. Just to make life interesting my pension changes coupled with Mrs Mort no longer getting ESA means a a large drop in monthly income. It feels like the early nineties again when the Mortlets were still in the nest

rising_from_the_ashes wrote: »

I do have an "anything else" fund which is a new addition to the "others" pot - hopefully it'll build up a bit over the next few months (not a lot to put into it each month!) - I'll see if I can stick a wee bit extra into this!

Keep on potting:D

rising_from_the_ashes wrote: »

Anyway, sorry long post again - hope everyone has a lovely Sunday & if you're having celebrations for the Jubilee, hope it stays dry!:)

What gets me the most is that throughout the DMP there was a clear goal, kill the debt. There was also an assumption that afterwards things would be better. Well they are because the debt has gone but I really did not expect so much uncertainty.

Taking eldest grandchild to the park today , must take rain macs.

rising_from_the_ashes

Mort wrote: »

Sliding back into old habits worries me also

Glad I'm not the only one!:)

Mort wrote: »

There was also an assumption that afterwards things would be better. Well they are because the debt has gone but I really did not expect so much uncertainty.

I think that's really hit it on the head Mort ...... I knew I would never have stacks of money as I am single with a house to run - but with no pay rises & stuff going up so much, it's just got really, really tight again.

I know I'm really lucky not to have debt to worry about but - it would be nice not to have to worry about balancing the books every day & being able to get the odd need that's been put off for many years when paying the debts ..... or have a bit left over for savings (as I really don't have spare money left to put anything aside for these anymore:eek: once all the pots are done).

*sigh* - sorry folks will pick myself up and give myself a stern talking to

Anyway ..... Mort hope you enjoyed the walk in the park & didn't get too wet!:D

Been lovely here today again (and stuck in the office all day!) but off tomorrow :j

rising_from_the_ashes

PS - as a quick example on fuel costs since my last pay rise & how much these are eating into people's disposable income (based on unleaded):

March 2009: 90.9p = £31.81 / tank (yes, I have a teeeennnnnyyyy car!)

May 2012: 139.9p = £48.96 / tank (and it did go higher than this here!)

So, that's over £17 / tank @ an average of 4 tanks / month = £68 extra to find just for fuel / month ... no wonder people are feeling the pinch!

sistafromanothermista

rising_from_the_ashes wrote: »

PS - as a quick example on fuel costs since my last pay rise & how much these are eating into people's disposable income (based on unleaded):

March 2009: 90.9p = £31.81 / tank (yes, I have a teeeennnnnyyyy car!)

May 2012: 139.9p = £48.96 / tank (and it did go higher than this here!)

So, that's over £17 / tank @ an average of 4 tanks / month = £68 extra to find just for fuel / month ... no wonder people are feeling the pinch!

Tell me about it
I remember when it was less than £50 to fill my car up now its £65:eek:
My car is really old and completely non economical to run but need it as part of my job (Driving job) and as you can see i can't afford a more economical one
I'll just have to put up with it until the day i'm debt free (if the poor old thing lasts that long)

Tupperware_Queen

Hi Guys

been on the forum a while, but only just seen this thread. Very interesting how so many of us have the same worries (fears? paranoias?).

Rising I have the same issues with fuel costs, I am a community nurse in the NHS, no pay rise since forever, and ever increasing costs for a car which I HAVE to have for work. There's nothing for it but to cut back elsewhere...or find a car that runs on fresh air!!

I use a Credit Union account for my 'pots' but my sneaky trick is to try not to use the money I put aside there, for example, last month car tax was due, I have the money for it in the CU, but due to getting a bit of extra money from a busy on call duty, I managed to pay it out of my normal wages, leaving the £120 in the CU as a bit of an emergency fund.

rising_from_the_ashes

backinbusiness wrote: »

My message is too short?? I don't think so

I *think* it's when you type in a quoted message & don't put any extra text in ... happens to me all the time;).

Re Maisie's Op - she was spayed & is recovering well

Chuckling at the Pot Noodle .... not had one of those for years:rotfl: - although I do have the odd night when I'll have something silly like a packet (yup, a whole one:o) for my dinner as I can't be a***d to cook just for myself!

sistafromanothermista wrote: »

My car is really old and completely non economical to run but need it as part of my job (Driving job) and as you can see i can't afford a more economical one
I'll just have to put up with it until the day i'm debt free (if the poor old thing lasts that long)

I've already downgraded mine to just about the smallest, most economical one I can ... just worked out the cost of a tank in my old one and it would be another £50+ / month :eek: (on top of the extra £68) :eek:

Tupperware_Queen wrote: »

Rising I have the same issues with fuel costs, I am a community nurse in the NHS, no pay rise since forever, and ever increasing costs for a car which I HAVE to have for work. There's nothing for it but to cut back elsewhere...or find a car that runs on fresh air!!

I think that's what's just hit home to me in the past couple of weeks - it's back to constantly having to try to make wee cuts here & there to balance the books each month & really, with finally having got rid of the debt, you kind of think things will be a little easier (not hugely as I mentioned earlier due to being single & paying off most of the debt through a 2nd job) but just a little easier.

Congrats on keeping your CU savings & not having to use them for the car tax:) - I have one (only manage £10 / month & supposed to be an emergency fund) but I usually have to raid it at least once a year so it never gets above £100:rotfl: (note to self: must try harder!)

I sometimes wonder if it's worth trying to increase this to say £25 (comes direct from my wages) and seeing if I can manage not to raid it as much

PS if you find a car that can run on fresh air ... let me know!:)

Mort

rising_from_the_ashes wrote: »

Anyway ..... Mort hope you enjoyed the walk in the park & didn't get too wet!:D

Went to park with fleeces and kagouls but never needed them as after the early morning rain we had brilliant sunshine, it was a bit windy but pleasant. Shame I never took my hat though, head feels a bit hot. Balding may be cool but it does have its downside:cool:

backinbusiness wrote: »

but remember the joys of eating a Pot Noodle

I don't think I could ever describe eating a pot cr*p as a joyous experience, like Dave Lister given a choice I would eat dog food in preference to a not poodle. Mind you he did let the side down once when he and the cat found the perfect noodle pot he declared
"I tell you one thing: I've been to a parallel universe, I've seen time running backwards, I've played pool with planets, and I've given birth to twins, but I never thought in my entire life I'd taste an edible Pot Noodle.":rotfl::rotfl::rotfl:

Mort

RatRaceToFreedom wrote: »

Saving and investing is the fun part after getting out of debt and the reward for all that effort.

As a new user I can post a link to my blog but it is RatRaceToFreedom dot com

Regards,

RRTF

Interesting concept, nice blog.