New Year, New Start!

candylucy

Hi All


I've been a long time lurker on MSE and get real inspiration from the threads posted by other DFW's, so I thought 2012 would be the year I finally take the plunge and start up my own debt free diary!

To be honest I've never previously really been one for keeping a diary but think this will really help keep me on the straight and narrow with clearing my debts and keeping to my New Year's Resolutions!


I married my DH last year and we want 2012 to be the year we start really saving hard for a house deposit. We're in a bit of an awkward situation at the mo in that DH is in the army based in Norfolk and I live in the Midlands with my mum. My job means I can't move to live with him, and likewise he only has a few years left in the army before he has completed his 22 years and gets a full pension, so wouldn't make sense for him to come out now, so for now it is long distance love! Can't complain though as he is my soulmate and I know how lucky I am to have him! :j

So for 2012, the plan is....

1) Pay off our credit card - this is currently at £3100. This should hopefully be paid off in full by March payday (fingers crossed!)

2) Once credit card is paid in full, start paying extra towards DH's car loan - this currently stands at £10,832. He pays around £382 per month towards this but I'd really like to clear this off before we even start thinking about buying a house as I know it will affect the amount we can get for a mortgage

3) Start paying extra towards my student loan - this currently stands at £6000. I know the interest is minimal on this and does not affect our mortgage potential but feels like a weight around my neck and really want to clear this in full!

4) Start saving for a trip to Canada next winter. DH's best friend emigrated last year so we have decided to go on a holiday to see him this time next year. This will not be paid for on any kind of credit so need to save towards this monthly to make sure we don't put anything on a credit card.

5) Start saving for a house deposit!

Phew! Think I'm being a bit ambitious here but I am determined to make 2012 the year we are finally debt free and in a really good position to start saving properly for a home of our own by the end of the year.

We are lucky with our current position in that I only pay rent to my mum every month and DH only pays a mess bill for his keep, so we can really put quite a hefty chunk of our monthly earnings towards achieving this.

We both got into the mindset of saving hard when we were planning our wedding, so am raring to go this year. Once the credit card is paid off in March we will have 9 months left to throw what we can at the car loan and student loan. I think we should be able to put £500 each per month towards this, but also want to save a minimum of £2000 for Canada, so theoretically, we should have paid off £7000 towards our debts by the end of 2012.

I also plan to check my bank account on the day before payday every month. Anything left over I plan to put towards our debts, if it's only £2! I find this really helps build up extra payments and keeps me focussed on clearing our debts.

Wish us luck! xx

Heather000

Brilliant you're getting things in order! We paid off all our debts after we sold our house (luckily we were able to do so) and it really felt like a weight was lifted after. We owed around 30k in total - nightmare!

We now have a new rule. If we can't afford it, we don't buy it and 4 years later, we still don't have one credit card, one loan - nothing. Lovely to not be scared of the postman or telephone anymore!

Best of luck xxx

candylucy

Thanks Heather000! I love this time of year, cheesy as it sounds it really feels like all those promises / resolutions can actually be achieved! xx

candylucy

Had a fairly successful day today. Was planning to have a NSD but ended up buying a reduced gift set £10 down to £3 for my sister in law's birthday (which isn't until April but I justified it by the whole "planning ahead" thing!) along with £1 on some salad to go with some leftover lasagne for dinner tonight.

Back to work tomorrow. Planning on making a packed lunch rather than spending a few quid on food while I'm there. The healthy eating regime has also started as I have officially overdosed on cheese this Christmas!

I've also arranged to go to body combat with my friend tomorrow night. I don't go to a gym as can't really justify the expense but really want to start doing some exercise. It's £5.20 a session but I'm sure it'll be money well spent to combat the cheese impact of the festive season!

xx

hillside777

Hi and welcome! :wave:

I have subscribed and wish you well in your quest.

candylucy

Thanks Bonnington. I read in one of the other threads that this gets really addictive. True or what??!!! I've already subscribed to 2 challenges and put my first pound in my sealed pot. Got to start somewhere right?

xx

candylucy

Another failed NSD! Ended up spending £3.50 at Mr T's for bits for dinner

Another £1 in the sealed pot though so must be getting somewhere!

candylucy

Wowza - I've just signed up to a new challenge which should be a real test of my willpower (what willpower?!) - the Crazy Clothes Challenge 2012.

Now to enlighten any potential readers - I have an obsession with clothes. My wardrobe is bursting at the seams, at any given time I have about 3 slightly different varieties of any given top, and yet.....I buy more clothes!

I've set myself a budget of £200 on clothes for the whole year. If I can do this (I CAN do this - New Year, New Start, remember Lucy?) I should be able to save an absolute fortune. It will also be kind of fun rediscovering the clothes which at the moment are sat in my wardrobe!

I'll keep you updated!

xx

candylucy

Hi All

The last 2 days have been complete NSD's! Hurrah! Am of down to see DH after work tonight so will have to fill up the car (approx £65) but we are both planning on a very chilled, MSE weekend with some of our Christmas present DVD's to entertain us!

Have a good weekend everyone

xx

candylucy

Hi All

I'm writing this from Norwich as I have come down to see my DH for the weekend

Came down straight from work on Friday night and had to fill the car up (£50). We were planning to have a very quiet weekend but ended up meeting our friends for some lunch yesterday which they very generously paid for. Was a lovely day out and lovely to catch up! We had a quiet night in last night with Christmas DVD's as promised

I admit, today I have spent some unneccessary money. Went to Tesco for DH to get some toiletries and I ended up spending £36 on bedding which TBH wasn't urgent or "needed" but my old sheets could do with being replaced.

Back to Birmingham tomorrow for a meeting then am popping round to a friend's for a coffee and gossip.

On a positive note I have managed to blag a free exercise bike from one of my friends who was given it for Christmas and didn't particularly want it, so this has saved me paying out for classes and should help me with the fitness kick! Just got to figure out how to put it together now

X

candylucy

Hi All

Back at home now, a relatively cheap but lovely weekend! Had to fill up my car again when I got back to Brum, another £50 grr. I think petrol is probably my biggest outgoing due to having to commute down to Norwich every set of rest days. Needs must though, I'd willingly spend triple that than not see DH. Just means I'll have to be extra stringent about my other expenses to cut down as much as possible!

So my first full week of "trying hard to cut back" is finished. I've been keeping a spending diary as below:

Tues 03/01/12 - £3.50 - magazine and food from Tesco

Wed 04/01/12 - NSD!

Thurs 05/01/12 - NSD!

Fri 06/01/12 - £7.50 - McDonalds
£50.00 - Petrol

Sat 07/01/12 - £10 - Christening present for my nephew in the sale

Sun 08/01/12 - £38.34 - New bedsheets from Tesco and magazine

Total - £109.34.....Yikes

Looking at this now obviously petrol is my biggy but can't avoid that. What I can avoid is wasting money on McDonalds and magazines! I work shifts and always take a packed lunch in on earlies. I generally take a ready meal in on lates but occasionally treat myself to a takeway on Fri or Sat nights at work. THIS HAS TO STOP! I knew when I went to work on Friday without any dinner that I'd end up buying crap and I still did it! Why? Just habit, I suppose. This week, I will definately take in a packed lunch or ready meal every day.

Magazine are another one of my vices. I generally use my Tesco clubcard vouchers for subscriptions but have been quite naughty this week and bought two. Money down the drain! My best friend and I have decided to swap our mags and I'm going to take positive action by only buying one mag a week from now on that's not already on subscription - budget of £1 per week!

I've decided to take out £10 cash tomorrow and have this as my budget for the week until Sunday. Hoping to have at least 5 NSD's this week. Tomorrow is out as I'm going to a body combat class tomorrow night which I think is around £5. I'm also picking up my free exercise bike tbhough so will be exercising for free as soon as I set it up! Wed night I've been invited to a friend's for dinner so should be a NSD, Thursday I have nothing planned for the evening so will just stay in and cosy up with a book and Fri, Sat and Sun am working lates so should hopefully all be NSD's!

Wish me luck x