📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Life in Denial

Options
/wave

I thought I would start a DFD to help keep myself motivated. I have recently had my LBM and decided it was time to stop lurking on here. :D

After consolidating my debts a few times and managing to rack them back up to higher amounts ever time I had had enough - no longer was I going to live in denial regarding my finances. :o

Living in denial is something I am very good at, although not normally about anything important. My friends find this quite funny and one even draws a comic strip about me for what I can only assume is her own amusement and my redicule - she takes it directly off my facebook which has made me and my other friends watch what they say as it might end up in print :eek: I would post a link but I am not allowed to at the moment.

Debt wise I am trying to save money every day to use towards paying things off and having looked at what I have to pay back have decided on a plan on what to tackle first. Details below:

Halifax Credit Card: £4552/4600 0% till November 2013 (paying £50 DD and saving £40 a month in an ISA for when the o% runs out)

Loan from friend: 1310/5525 0% (paying £220 a month back currently)

First Direct Loan: £3400 Borrowed £3388 Outstanding after 6 months. (paying 80.67 a month, 6 payments made)

I am ignoring the card aside from the additional £40 over the min payment into the ISA until the 0% runs out.

I am currently aiming to clear the First Direct loan quickly as its at 15.8% APR I believe but no charges for making additional payments. The trouble is I will be moving house in May (moving in with boyfriend) so I am trying to save for rental desposit and the furniture I need.

Steps taken so far to save money and clear debt:

1. Moved in with a friend - paying rent inc bills of £225 a month. This is down from £500 + all bills alone.

2. Stopped smoking - I was smoking around 30-40 a day.

3. Weekly shop and taking my own lunch and treats to work. I was spending around £7-8 a day while at work on food and drinks. I now pay £30 a week for all meals, snacks and cans of pop.

4. Stopped buying blurays and DVD's.

5. Joined a cashback website for when I do make purchases (free trials for netflix and lovefilm have netted a few pounds)

6. Only getting new PS3/PC games when trading in old DVD's and Blurays for most of the cost.

7. Taken out a cinema pass for £15 a month which sounds like spending more money but its a cheap night out and is saving me money so far. I have also stopped buying popcorn and taking my own snacks and drinks in - not sure what I will do when its summer and I dont have big coat pockets to stash things in.:rotfl:

8. Had no spending days. This was something I had never managed before while smoking aside from when I got 400 cigs from a friend abroad and felt too sick to eat.

Things I still want to do:

1. Get a new job. I have a good salary for my age, I think but it would be nice to earn more and feel like I am progressing.

2. Learn to drive once I have the free money not going on interest payments.

3. Save for a mortgage deposit.

4. Learn Danish and German - not related to money but nice to have aims ;)

5. Loose 1.5 stone to get the beach body I have always wanted.

6. Start painting in watercolours again.

7. Stop drinking Pepsi Max. My 6-8 can a day habit is not good for me and while only costing £1 for 4 cans, rather than 70p each from the work machine is still a lot of money over the year.

Wish me luck! :cool:
Total Debt Feb 2012 [STRIKE]£12,153[/STRIKE] 10674 16.5% Paid

Halifax Credit Card £4448.6. Loan 1 £3000. Loan 2 £2696.13.

Aiming to be debt free by 31/12/2013.
«13456

Comments

  • electrobix99
    electrobix99 Posts: 323 Forumite
    Started the Sealed Pot Challenge which will be shopping money for Christmas this year. I have never saved up for it before and I have always ended sticking it all on cards with the intention of paying it off afterwards. Not this year.

    I have also managed to get £125 back from Capital One in PPI charges so that covers some spending money for a little holiday I am having in two weeks (my first ever beach holiday and my only holiday, other since visiting my Dad in Denmark in 2010, in 7 years!) Together with money not spent on food in the UK and what I am allowing myself should cover the days away.

    I also managed to bag £10 Cashback from Equifax for taking out a trial there. Cancelled it already so I do not forget like I did with Equifax years ago.

    Not managed a no spending day today (£1.70 on Pepsi Max) and need to get a bottle of Wine (or two) and pudding for dinner as a friends house. I have set myself a challenge not to take any money out my bank account for the rest of week and try and make the £19 I have on me last.
    Total Debt Feb 2012 [STRIKE]£12,153[/STRIKE] 10674 16.5% Paid

    Halifax Credit Card £4448.6. Loan 1 £3000. Loan 2 £2696.13.

    Aiming to be debt free by 31/12/2013.
  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    by the sounds of it it will last you no problem :)
  • electrobix99
    electrobix99 Posts: 323 Forumite
    elantan wrote: »
    by the sounds of it it will last you no problem :)

    I hope so as that will mean another £60 into the savings pot for the house desposit/furniture needed/debts fund.:D
    Total Debt Feb 2012 [STRIKE]£12,153[/STRIKE] 10674 16.5% Paid

    Halifax Credit Card £4448.6. Loan 1 £3000. Loan 2 £2696.13.

    Aiming to be debt free by 31/12/2013.
  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    maybe £20 in each ?
  • electrobix99
    electrobix99 Posts: 323 Forumite
    Good idea. It will stop me saving it all up for when I move and going crazy in Ikea :-) I have a shopping list of things we need from there and need to stick to it and not take any credit cards.

    Ikea is a dangerous place if you ask me. Those plastic shoulder bags somehow manage to get filled with crap you don't want and somehow it all adds up to 4 times what it cost in your head.
    Total Debt Feb 2012 [STRIKE]£12,153[/STRIKE] 10674 16.5% Paid

    Halifax Credit Card £4448.6. Loan 1 £3000. Loan 2 £2696.13.

    Aiming to be debt free by 31/12/2013.
  • rdchick
    rdchick Posts: 1,815 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I am with you on the Pepsi Max - for that alone I am subscribing!

    Good luck! xxx
    Life is too short not to love what you do.
  • electrobix99
    electrobix99 Posts: 323 Forumite
    I was spending about £5 a day on the vending machine at work on Pepsi Max cans alone. When they went over 65p each I decided enough was enough and make myself stop at Poundland on the way to work and get 4 for £1 and make them last.
    Total Debt Feb 2012 [STRIKE]£12,153[/STRIKE] 10674 16.5% Paid

    Halifax Credit Card £4448.6. Loan 1 £3000. Loan 2 £2696.13.

    Aiming to be debt free by 31/12/2013.
  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    one thing i have been learning in my debt free crusade ( i've been at it a while now lol) is that it's ok just getting outa debt , but unless you make plans on having some spare cash also your just gonna find yourself back at the start again ... which is why i am trying to get both sorted :)
  • I think that is where I have gone wrong before. I have managed to get out of debt (well at least get things managble) and then spent, spent, spent like mad and got into a mess again. I have never planned to save for things but rather spend and plan to pay back which is the wrong way round.

    My trip to Tesco did not go too well last night and after two bottles of wine, a cheesecake, stamps and 8 cans of Pepsi for the fridge at work I am now down to £2.20 and I need to get my mother a Birthday card... I think my aim of not withdrawing any more money before the weekend will fail but I should still be able to save £55 for debt ect.
    Total Debt Feb 2012 [STRIKE]£12,153[/STRIKE] 10674 16.5% Paid

    Halifax Credit Card £4448.6. Loan 1 £3000. Loan 2 £2696.13.

    Aiming to be debt free by 31/12/2013.
  • rdchick
    rdchick Posts: 1,815 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I was about to say Tesco have 8 cans for £1.99 at the mo :) xxx
    Life is too short not to love what you do.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.1K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.