Pix's aims, dreams and reality

pixnmix_2

Ok so I've just done my money balance thingy and it's not panic mode, but nearly! I have 4 weeks till payday and already overdrawn. BUT if I'm careful and aim for 20 days not using my debit card, only the approx £25 already in house/ purse (apart from petrol cos that's essential for my job) until the 27th I should be ok. I do have a few hundred in savings but have vowed to leave that where it is. Credit card has £400 on it, so I'm aiming to throw £100 at it on 27th Jan (payday), and the same every payday until cleared. I don't want to use my savings to clear the card as that is for emergencies.

Maybe that's daft logic but seeing the savings balance looking healthy makes me feel more secure and settles the nerves a bit, as I check it online before doing the money balance. Am aiming to have £100 less overdraft each monthly payday, and if so, by April I'll be in the black. Then I start doing what I amed to do this time last year...get the things to make a house a home - on a tight budget. I think realistically I should aim to start overpayments in January 2014. If I start before then it's a bonus.

Work tomorrow, then have my daughter and son-in-law-to-be over for tea (tagliatelle, using stuff already in fridge, and only needed to buy the pasta today). Tuesday I'm off work and will do the freezer stock-take. Will also meal plan for the rest of the week.

Next Saturday I want to pop in to the building society to find out why I'm still locked out of my online mortgage account. I was originally locked out for putting in the wrong password. That sorted and still unable to check the balance online. I think I'm at around £98,000 but when I get it sorted I'll update the siggy thing below

Thanks SSS and Natty for the tip about not taking money to work. Gonna do that this week Oooohh...there's a challenge. No impulse bought snacks!

Lois_E

I understand about the psychological importance of seeing that there is money in savings, but when it comes to the OD and the CC, it's probably worth thinking about which one has the higher interest rate - or if your OD is one of those flat rate ones. It may be better to deal with one or the other in its entirety and then tackle the other one. If it's important to you to see both coming down each month, then perhaps you could put a bigger payment where it will make more difference and a smaller payment to the other one?? Feel free to ignore the suggestion, though - I don't want to dictate what anybody else should do.

pixnmix_2

Hi Lois
I would never ignore advice and thanks for yours

My overdraft is a flat rate so not too worried about that. The credit card is higher rate of interest than my savings and what you have said makes perfect sense to be honest. So I'm going to transfer £200 into paying the card off, from the savings account and the balance from the current account (overdraft), both at the end of January.

pixnmix_2

Been having a mooch around MSE website and happened on a very good nugget of info about transferring balance of CC's to another interest free one. Soooo... I've applied for and been accepted for a CC with a 12 month 0% APR. Have arranged to transfer the balance to that so scrup my previous plan. Will break up the balance into 12 monthly chunks and pay it off that way without touching OD or savings. Might even pay it off in 10 months

Go me !!! :T

Lois_E

Much better plan. Well done you.

HelenDaveKids

I also never take money / purse to work with me. If I need some for a specific reason i take that amount in with me. It makes spending not an option.

I am also already overspent by about £200 and dont get paid till end of Jan. I also haven't put anything into my saving pot this month which is really not like me but knew it was going to be a bad one. I do have money left in my grocery budget.

Even if you DD a £10 a month starting now, it would be far better than waiting for a specific date to start. Then increase as finances permit. Its amazing how fast time flies by and you probably wouldn't miss a tenner.

My current system is that if I save some money by whatever method (ie getting cheaper car insurance than original quote) I put that money into my OP account. Even if its pence saved checking my asda reciept for price guarantee, if I hadn't, I wouldn't have the money therefore its not mine but my OP pot.

pixnmix_2

Thanks Lois.

HelenDaveKids, what a great idea about the overpayment pot. I'm going to try that one. Also, I like the suggestion of £10 overpayment and will look at the finances again. Thanks :j

Ooohh lots of good ideas. Now to find a container for the OP coins

pixnmix_2

Been in work today and had the family round for tea tonight, but had time to put my £2 coins together and they make the grand sum of £20! Pretty good start methinks

Tomorrow is freezer stocktake day and sort my loose change to put in an overpayment pot. The £2 coins were to put towards new bedroom furniture but i'm considering putting em towards the OP and making the OP's an end of month trip to the mortgage company.

Off up to loft tomorrow too. Have some ornaments and framed pictures to photograph for ebay. Wish i knew when their next free listing weekend is.

And now... to relax with a G &T or few (had a glass of wine earlier too) and fiddle about on net while OH watches telly with me on sofa.

Happy days and Happy New Year

HelenDaveKids

Theres usually someone on the ebay forum with good prior notice of next FLW.

pixnmix_2

Well I didn't do anything that I planned to do today cos OH and I went for a 3 hour walk as it was such a lovely day, shame to waste it. Was lovely strolling along the canal towpath, saying hello to the numerous other walkers and just taking some much needed time out. When we got home I was very achy (getting over a cold, nothing to do with being nearly 50 so took myself off for a bath. Then just did nought except put some home made veg soup in the slow cooker and a bread mix in the breadmaker. I might do the freezer stocktake in a few mns though as OH watching a film and I'm feeling a tad guilty for slacking

Still, I'm taking some of the soup to work for lunch tomorrow so I'm still doing moneysaving innit?

May be back to update later