Finally seeing the right track getting closer

MuffinTops

I've lurked in a few diaries long enough to get some amazing tips and tricks on this DFW track and I'm really happy to say I've implemented a lot of them already. There's some amazingly inspirational people out there on this forum, and I feel so grateful for the tips and inspiration!

So, a little about me is that I'm a single 40 year old female. I have my own house with a reasonable mortgage and although I earn a fair enough wage I haven't managed to get it to stretch through the month! I have some silly debts still hanging over which I'll list below. I'm very good at avoiding getting new debts so have that side of my brain sorted, but I do incur lots of bank charges and late payment charges from being so disorganised.

What tends to happen is that I run out of money for the last 10 days or so before I get paid, or I get overdrawn which I know my bank will refuse and then charge me for the privilege just before I get paid (which is an overdraw in my account they'll allow) then by the time I get paid I have a spending binge as there's money there, without really taking into account what money is due out and on and on I go in that loop.

My light bulb moment was more of a whole life thing though than a finance thing. I sort of looked in the mirror recently and thought "who are you and what the heck are you doing with my body and my money!!!" I think I've been comfort spending and eating but have managed to notice it before it went too far.

So, I want to find that right track again and get on it and see this past year or so as a blip rather than the time that saw me spiral out of control. I'll be very grateful for any support along the way and to hear of others stories.

Right, debts are:

£768.51 on my one and only CC which is in default (but no interest freeze).
£6,000 (roughly) for a seriously defaulted CC with my bank who moved the debt to a secured one. I have an agreement to pay £150 a month on that one, and it comes out of my bank the day after payday so all good there. Interest was frozen as it was in such a serious state.
No overdraft but roughly £50 - £75 bank charges a month which I need to grasp control of.
£555 left to pay on defaulted Comm Charge.

Grand total of debt as of today: £7323.51

I need to create a signature now I think.

I'm hoping that by writing things down and being more present and accountable for these debts and fees this will also have a knock on effect in my whole life to get me organised as I feel I've given up some control recently (there were reasons - which are no longer applicable to hold onto as reasons and they were too important to be reduced into "excuses").

I also have a part time business idea I want to get moving, and although I don't need capital per se, I do need to just have an organised and cleaner mind for it to have a chance.

Well, I mentioned earlier that I've been inspired and have picked up tips, so with that in mind I have:

Listed quite a few items on Amazon. 4 sold already.
Added an item on Ebay as it's free listing this weekend.
Joined various survey sites, both online and on phone.
Set up my spreadsheet, which is still very basic but will grow in singing and dancing abilities.

So, that's me. I think my next step is to update my signature and carry on reading the fantastic diaries I've subscribed to.

I do tend to blurb on a bit too, sorry about that. Hopefully as I start getting a grip on my finances my head will stop spinning around so much and I'll gain control there too!

MuffinTops

I also had an NSE day today, and will be living on a daily budget which feels remarkably calming.

My daily budget will need to include train fare and bus fares to and from work, food and incidentals. It will be £15 a day where, on a normal day £11.60 is how much my fares would cost. I can bike to or from work though, so have the ability to reduce my travel to just £3-£5 a day which is why I included it. It's the double incentive to get me biking thereby saving money and burning calories. Both of those I'm in need of.

It's a real turnaround going from compulsive spending to getting excited at not having spent anything at all in a day. My "reward" for not spending is that the money I save from my daily budget goes into a pot to save for the things that I like rather than just handing over my debit card hoping it'll be accepted.

Tomorrow won't be a NSD as I'm having lunch with friends, but I have enough in my purse for that.

I will be getting <cringe> charges from the bank this month though, but that's it! I no longer have an excuse/reason/valid decision to go over my budget again - ever! YAY! GO ME!!!

Itsadogslife_2

Welcome to your shiny new diary!

You sound very motivated and like you have everything under control, looking forward to hearing about your journey

MuffinTops

Thanks Itsadogslife. All of this is really out of my comfort zone and new to me revealing all to anyone who wants to read it, but the saying "carry on doing what you're doing and you'll keep getting what you've got" feels very valid for me right now.

I see from your signature that you're doing amazingly well. I can feel another diary subscription coming on!

freebyfifty

Hey MTops. :wave: I found your diary

I am glad you have started. It really helps to write in it every day to keep you focussed and if people read it its a massive bonus

You have done so well already. How did you manage to sell stuff on Amazon so quickly? I've had stuff on there for months and only sold one thing.

Remember not to be too harsh with yourself at first - this MSE thing takes a while to kick in and we are just learners

I have suscribed so we can keep each other going :T

debtfree2015_2

very positive first posts Muffin Tops, wishing you luck on your journey :T

MuffinTops

Thank you FreeByFifty. That's a lovely message to read.

I think my stuff sold so quickly as there's a fair bit of comedy sitcom DVD's and a couple of standup ones too. They tend to be pretty popular. The other stuff I put up hasn't. The bike I put on ebay went within a couple of hours though, that shocked me. It feels really good to be so proactive in sorting debts.

Thanks for the reminder of not being too harsh. I can be really guilty of that a lot, as I know many of us can. But focussing on the positives is the only way forward, and why shouldn't we???

Thank you for being my very first subscriber (I believe). That feels really flattering, doesn't it? x

Debtfree2015, thank you too for the good luck wishes. x

MuffinTops

So, as I stated earlier, today was definitely not a NSD but it is a day I'd already budgeted for as I'd made these lunch arrangements a long time ago. It wasn't too bad either with drinks, main, dessert and tip coming to around £11 each. I wasted most of the dessert though, so still need to work on my habit of having if others do even though I don't want it at all! Eek!

But that was all I did spend. My car is currently running on fumes, but I won't need it again until Tuesday and I think tomorrow and Tuesday have a great chance of being NSD's or at least LSD's so I have a little room to maneouvre there.

I sold the ebay item, although it's a collection item as too big to post and I thought I'd added it as Cash on Collection only! But stupidly I'd put a buy it now linked to paypal and it sold really quickly and payment went through paypal. So I now need to reimburse the paypal money and collect the cash later in the week when the item is collected (I've done this because when people pay by paypal and collect -thereby not getting the item sent to their registered address - some people will then contact paypal and say their account has been hacked into and paypal will automatically refund the money they paid to the seller, leaving the seller completely out of pocket with no help at all). So cash on collection protects both me and the ebay account holder for those who genuinely have their accounts hacked into.

I'm all psyched up to get on my bike to commute now too which will save me a fortune. I need to dig out a pretty pot or tin to put my unused daily budget into. Normally I'd go out and buy something (I know the exact one I want), but I know I'll find something in the house I've forgotten about somewhere. See how I'm catching on here?

Right. My little list for today has been completed all but refunding paypal, updating my website and catching up on other diaries I love reading. Or my daily boosts of motivation as they've quickly become.:A

freebyfifty

Hi,

Didn't want to read and run. I'm glad you had a good day

Being with friends is priceless and reminds you that you actually do have a life while doing this MSE thing.

Good luck with the NSD's, I'm trying for one tomorrow too :eek:

Freeby x

LondonGirl252

Hi,

Found your diary! Really positive few posts, well done for a good start Good luck for your new daily budget, it should help keep you on track even when the "big stuff" is done, ie selling large items on ebay. For me, it's the daily reminder I have a reason why there's only a £10 note in my purse and no more!

Have subscribed and will be here to help on your journey x

MuffinTops

Thanks freebyfifty. It was funny being with friends as one of them brought up finances and how they've also had their light bulb moment and are now working to sort things out. I've directed them to this site for top tips and guidance.

LondonGirl252 I'm slowly getting used to having a particular amount in my purse but it's not been a hindrance at all really. Like you say, it's a reminder of what journey I'm on. I have more than enough to get by on and it's baffling me even more how I guzzled through so much money without really having anything to show for it.