A Thread for After Debt?

backinbusiness

rising_from_the_ashes wrote: »

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!

A packet . . . of what? The suspense is killing me!

And I had my tongue in my cheek about Pot Noodles, honest, but you get the general gist.

BiB

rising_from_the_ashes

Opps! Biscuits:o (although I really must stop as I really need to lose some weight!)

LianneH

rising_from_the_ashes wrote: »

Opps! Biscuits:o (although I really must stop as I really need to lose some weight!)

when i lived myself i used to live on cheese on toast and packets of j@ffa cakes!!:rotfl:those were the days!! although thats prob when my debt started, i felt richer then than i do now!! :rotfl:

Rising - im glad others have given you some feedback too and hopefully this has picked you up a bit.

I know I'm really lucky not to have debt

No your not lucky, you were determined, you made your own luck so well done! i happened to mention to someone that i had managed to pay off my debt and they said i was lucky, whilst they were spending a fortune on needless clothes!!

Mort - i just noticed your level of former debt - wowzers thats amazing you paid that off!

hope everyone is having a good extra day off! im trying to stay away from the shops so i dont buy any baby clothes!

SOT2011

Hi everyone :wave:

Definitely over-committed myself on the study front this time, roll on August when the two short courses are finished and I'm back to normal amounts....

Just had to say, not Pot Noodles for me, they just smell wrong to me, but Super Noodles on the other hand - especially the chicken flavour yum yum yum :D

I've been a bit off budget spendy despite, or maybe in spite of being so busy with study, I got lazy and stopped being so careful, need to rein it in, feels like I'm always saying that, but really I do.

I'm on a major diet push at the moment, doing WW but without the meetings using some old info, and that is at least helping with the food budget as I am buying far closer to just what I really need and have actually stuck to the list twice in a row which is a record for me :rotfl:

Hugs to all

SOT x

2spicy

Just to add here ... 2 years ago I sold my Sporty Mondeo ST and picked up a 10 year old 406 Estate for less than £800. This old bus has just clocked 190,000 miles and returns 58mpg on a motorway run, late 40's around town.
The only downsite is is the 70 litre tank now takes just over £110 to fill up, but gives a range of almost 900 miles between fuel stops

ms_london

Hello all, happy friday!

I am just settling into my newly purchased flat, so trying to organise a bit of a budget - needless to say most of my salary is taken up with bills now, but I just wondered what a debt free person budgets for things like holidays, gifts, general spending money, or savings (if you have any money left)? I've been either in debt or saving for a house for so long, I've completely lost touch on what is considered normal so would appreciate any advice.

I have a spare room so I could rent it out, but am enjoying my own space at the moment - should I suck it up and get a lodger in so that I can throw the excess into savings/mortgage?

Decisions, decisions....

It's great that this thread exists so thank you for your help xx

SOT2011

Hi ms_london

I put £40 aside as my "fritter fund" each month, that is for spending however I like, though usually disappears on parking fees at weekends, the odd book etc.

I put £50 a month into "Xmas and Holidays" but I have snuck a little out of that occasionally for other gifts.

I'm overpaying as much as I can manage to the mortgage so with the exception of £20 a month for hairdressers (me and dog, hers costs double mine !!!!) the rest goes on bills/food/building back up annual payment pots and in to overpay the mortgage.

I have two main reasons for not getting a lodger at the moment, the dog, lovely though she is I can't imagine many people would want to live with her and the only shower is in the ensuite in my room. Having said that, even without those reasons I think I would struggle to get used to sharing even though it would be a massive financial boost and therefore would be a really sensible option for a couple of years.

SOT x

rising_from_the_ashes

Hi ms_london congrats on your new place!

If it we me ..... I'd probably hang on 3 months or so and see how things are going before making the decision about a lodger - but it really depends on how tight your budget is.

Have you done a new SOA with your new outgoings on? It should give a good idea of whether you've got enough spare or if things are going to be really tight.

TBH, I'm still in the "sorting out" stage - I never budgeted properly (prob one of the reasons for the debts & then I never had spare to do it!) so I'm still trying to get things to an advance stage to pay annual bills etc (much better to have the money sitting in my account than paying it to someone else each month - prob incl interest - earning a little more each year!)

New budgets this year incl the "anything else" lot which, for me, covers presents (£10), clothes (£25), dentist (£12.50), haircuts (£10) & trying to get enough saved to pay the car insurance in full at renewal (as well as paying this years on d/debit) and anything else (as described!) which is £50.

Best of luck

rising_from_the_ashes

SOT2011 wrote: »

I have two main reasons for not getting a lodger at the moment, the dog, lovely though she is I can't imagine many people would want to live with her and the only shower is in the ensuite in my room. Having said that, even without those reasons I think I would struggle to get used to sharing even though it would be a massive financial boost and therefore would be a really sensible option for a couple of years.

It's a constant dilemma for me too ..... I do have a spare room but it's not what you'd call huge - ie tiny! so really if I was going to do it, it would make sense to let out my room which is a) bigger and b) has the ensuite (I never use this anyway as I have baths so use the main bathroom).

The pets would be another issue as well ..... cats are errrrr a handful (putting it mildly) due to their "issues" and dog too TBH. I am a bit "particular" about when they (cats) go in out (wee cat can't stay out when I'm not here & neither allowed out after dusk) - I'm sure this would be a pain in the butt to a lodger (and prob subject of disagreement if someone was in / out when they shouldn't be!)

But as you say, it would help hugely on the financial side (as things are tight) and I am glad it's there if things get worse or in an emergency situation (ie if I was made redundant or similar).

LianneH

Hi ms_london! as Rising has already said, i suppose it all depends on how tight your budget is and that alone should tell you your "normal" amount to put aside for gifts / holidays etc.

If you have a decent surplus then really its a question of choices and the need vs want question.

At the moment i put aside £50 a month as pocket money (but usually spend this on DD!!). I put £200 per month away for annual bills, about £300 for a xmas / holiday fund and £75 for gifts. We arent going a holiday to the tune of that value nor am I expecting to spend that all on xmas so some of this is being used to get my annual bills in advance of themselves. and i know that £75 seems alot for gifts, but honestly the amount of parties my DD is invited to is staggering!!:eek:

with regards to a lodger, again depends on how tight your budget is, but if it were me and my budget was managable then I wouldn't. I see my house as my "get away", my reward for working so hard at work, life in general and getting rid of my debt!! but at least its an option for you!

hth x