Please please please let this not just be a faze...

mf0u1098

Itsadogslife wrote: »

How did you manage your debt reduction so far? How much do you plan on paying per month towards your debts? Sorry if you don't want to answer these, just tell me to keep my beak out

My repayments in the early days were huge when I'd just graduated, but was on a low paid job. I had credit cards and overdrafts galore from uni at the time of the credit boom where they gave you money like sweeties. At one point I had credit limits just on credit cards of £22k although thank goodness I had enough sense not to use all of it!!!

I've basically plodded along with brief spurts. Selling my Merc paid off the immediate credit card and overdrafts debts initially but money was just too tight and keep having to borrow more again. Really it's only from Feb 11 when I moved back home that I really started making a dent in the debt. I have paid off 3 overdrafts and have less than £2k each on my last 2 credit cards (0%) so these will be the last to be paid off.

My [STRIKE]aim[/STRIKE] plan is to pay off £1100 per month with any extras thrown at it. I have asked all my family to give me money for xmas and birthday in change so I can add it to my pots as notes are too easy to spend. My sister owes me £500 which she is starting to pay back from January so this will help. Then it's really sticking to NSD's (I love this challenge as I think it's the only way to stop me from spending other than rewiring my brain!!!) and the other challenges on here. I'm selling as much as I possibly can and am being quite ruthless as reaching that DFD is more important than a book I read ever year or so!

I just need to keep up this momentum! I have used the DFD of Dec 2012 based on the money I have saved versus the balance owed so I will need to try to work out what the value of my loan will be at that point to see if I can pay it earlier given the rebate (albeit small) in interest against the 2 month interest charge for redeeming early.

I went out for my regular Sunday evening meal out with a friend and saw the giant bowl for tips and there were loads (and I mean LOADS) of £2 and £1 coins. I was practically salavating on how my totals would look if I added them. I did ask if I could swap them for some notes but then thought better of it as I have a very small budget for the month anyway so best not to take about £50 out in one go...

xxx

mf0u1098

Monday 7th November

Well it's Monday again and forgot to do my weigh in (!) so will have to do tomorrow as I'm trying to lose 7lb before the xmas do which is in less than 4 weeks.

I've checked my accounts and have transferred some more to my VSP as some direct debits had come out so my totals are looking really good. I'm trying for 5 NSD's in a row this week so fingers crossed nothing crops up!

I have been juggling money around my accounts and credit cards and have to admit that I'm confused on where I'm up to!!! I think I've paid too much off my credit cards for my budget this month but need to work it all out. In the end though I'll just make sure that my budget for spending money for the month is correct. If I've paid too much off my credit cards then at least it's still reducing my debt albeit not the debt I wanted to pay off first!

I've still got 3/4 of a tank of fuel left so hopefully will achieve my target of only using one tank all month. Also means that I don't use it for short journeys meaning I will have to walk and exercise some of this booty...

On a slightly somber note, it is 8 years ago today that I had my near fatal car accident on the motorway. The news about the M5 crash has really brought it home about how lucky I was and that noone ever knows what is going to happen one day to the next. I remember after my accident that I questioned what I was doing with my life and was I wasting it. Have to say that I'm questioning again if this really is the life I want i.e. job / home life / friends etc. Just makes you stop and think about what is really important. The one thing I am certain about, however, is that clearing my debts is ultimately one of the most important things for me to do between now and next xmas eve as other things I could chage are all constrained by my debt. Despite this though, I'm going to do a bit of soul searching about what free things I could do to be the person I want to be whilst still being myself.

Anyway, better get back to work, have a lovely day and just remember that life is not a dress rehearsal and be happy... xxx

mf0u1098

Tuesday 8th November

Well today didn't start off as a good day. I had some fresh coconut last night and my stomach didn't agree with it so was very ill this morning! Feeling a lot better now but cannot understand how I can eat Bountys but not fresh coconut...weird!

I've been spending on my Tesco credit card rather than out of my budgeted account so I can earn Tesco points however it is all becoming rather complicated as I've no idea where I am with money despite being on my 6th No Spend Day and we're only on the 8th. My brain is not working at all tonight and I really can't work out where I'm up to.

I'm going to go out for a walk later with my mum to clear my head and burn some calories (actually I've eaten very little today so will probably burn fat - Yipee!) I need to photograph and list things for Ebay but to be honest I am still really tired from being ill this morning and went into work despite being as green as Kermit!

Does anyone keep a spending diary or spreadsheets of their accounts? Do you do this daily or monthly?

xxx

CW2

Hi there, I keep a spending diary (handwritten - I feel a bit more in control writing it down rather than having it electronically) and update it at the end of each day before I go to bed. Its great for keeping track of what sort of things I spend on, where budgets need to be increased and where the spending is just unnecessary, that sort of thing. I find it really useful, you might want to give it a go? It will probably help you keep track of spends even if they haven't cleared yet so you know exactly what you've got to spend. I also keep a little handwritten note of my exact budgets for the month in my purse and put an entry in and reduce the budget accordingly when I spend. A bit anal I know but it means (a) I always have to allocate a spend to a budget so stops me spending outside of budgets and (b) keeps a running total of what I have so I always know exactly how much money I have irrespective of whether the spend has cleared on my accounts or not. Looks a bit like this:

petrol budget: £[STRIKE]100[/STRIKE] £69.90
1/11 £30.10

Food budget: £[STRIKE]80[/STRIKE] £64.90
4/11 £5.10
5/11 £10.00

etc, etc, you get the idea!

mf0u1098

Thanks CW2!

I spent ages yesterday reconciling all my accounts/credit cards for the month and found where the discprencies are so am now on track with my budget. I've allocated the £1100 I need to save per month and have got a pot left now for the rest of the month to live on. I found a little jotter pad to put in my purse which I've updated today with what I've spent. I had to buy my lunch and lose a NSD as when I went to make my sandwiches this morning, there were no t-cakes left (my family had eaten them all and not replced them!!!) and it was too late to make anything else. Going to nip to Asda after work and buy a couple of bits for the rest of the week and take Saturday as a NSD instead.

I know it is probably wishing the days away but I cannot wait until 30th Nov (payday) so I can update my signature with my lowered debt amount! I also cannot wait until Christmas day when I will have less than a year until I am debt free...

I have sold some items on Amazon and Ebay so that's about £70 extra and counting which I will put towards xmas pressies as I stupidly didn't budget for them!!! I listed 10 on Monday but none yesterday as I had been very ill so must make up for it tonight listing. I have spotted a lot of things to put on. It has really helped hearing about what people have managed to sell on Ebay/Amazon as I thought they had to be mostly newish or very good quality but I've read of things going with stains on and worn bobbled jumpers! Although I still couldn't bring myself to sell my old worn clothing, I will definitely be more to putting things on as long as I describe the condition accurately.

I went for a lovely walk last night so hope to go out again tonight. 3.5 weeks to go until the xmas do and being ill yesterday meant I lost 2.4lbs in a day so I just need to keep pushing myself to lose this weight. I want to enter 2012 on my way to my debt free goal and also my ideal weight goal.

mf0u1098

Thursday 10th November

Have just finished photographing about 40 items to go on Ebay so I'll be Photoshopping them tomorrow evening... I'm not looking forward to counting the jigsaw pieces, I always end up with an odd number and have to count them again! I've got 15 of them to count, some 500 pieces, some 1000. Might take a while!

I made a lovely card for my brother in law yesterday who loves coffee. It was a brown card with brown glitter then coffe bean card in the centre, looked great! Really chuffed with my cards and really enjoy doing them.

Sorry it's just a quick update but I'm knackered and need some sleep. TFI Friday tomorrow!!!!!

Night all xxx

mf0u1098

Friday 11th November

I am soooooooo glad it's Friday and the end of a particularly bad week. My spending has been more than normal which is annoying but I've put loads of things on special offer away for xmas and had a (forgotten - oops!) birthday that I hadn't budgeted for. I made a lovely homemade card though so not too bad... I've also got to make a homemade card and buy some flowers/donation for my best friend whose dad died this morning. We will never forget the date he died.

I was hoping to get through the month on just one tank of fuel but I'm already half way through it and the needle just seems to drop when you get to 1/4 tank. Oh well, I'm finishing for xmas on Friday 16th December so will hopefully be able to save on fuel then.

To be honest I think I need to find my motivation again. I am so happy that I've managed to save my £1100 this month and have even earned more money on Ebay/Amazon to go on top of this total. I've just had such a rubbish week being really ill, my best friends dad dying, hassle at work and major problems at home that it feels like I've lost the sparkle for money saving just now. I just want to eat chocolate and have a drink and try to get over this week. Not good for my budget or my waist line and I know I'll regret it later.

Sorry for another sombre entry, I cannot wait to finish for xmas and have 3 weeks off work, doing nothing! Right, I'm going to go and have a drink (I'll nick my dads...) BUT I'll start photoshopping so I can list things on Ebay so I'm doing something money saving.

Hopefully I'll have a good nights sleep and be my usual happy go lucky self again tomorrow!

xxx

mf0u1098

Saturday 12th November

Yay my total sold on Ebay/Amazon has jumped up so should be able to add more to my savings this month which should hopefully compensate for next month which is going to be tough being Christmas!

Had a bit of a spendy day today but in a good way, bought a beautiful Me to You Tatty Teddy card making kit for a sympathy card for my best friend and her family. I also used my Asda discount card again to buy scrummy veggies for the chicken casserole I made tonight. Was lovely! (if I may say so myself). I'm now watching Eclipse in preparation for Breaking Dawn coming out. I am definitely TEAM JACOB!!!!! mmmmmmmmmmmmmm he is gorgeous and it helps that he nevers wears a shirt... I have to say though that I'm Team Edward in the books. I just cannot seem to take to Robert Pattinson, he's just weird looking and so bland. For that matter, I cannot stand Kirsten whats-her-name who plays Bella. She's so dull and cannot act to save her life. She is nothing like the Bella from the books.

Anyway, bit off topic there!

loubie_lou

Hi there!

I am in a similar situation to yourself. I have just turned 30 and moved back in with my folks after 10 ears away.

I was unable to sustain my lifesyle on my crap wage, so I got a new job and moved back home which is almost rent free! So my aim is to clear all my 13k debt next year.

Good luck and i'll be subscribing!

x

mf0u1098

loubie_lou wrote: »

So my aim is to clear all my 13k debt next year.

I've seen quite a few people who are trying to clear all their debt in 2012. We'll have to keep each other motivated! Maybe it would be worth starting a new challenge? Or just piggyback onto the 12k in 2012 but with our own totals instead of 12k?

Anyway, just a thought...