Getting clarity on my finances

specialkaye

Thankyou very much,

Ive been very lucky as my parents have been very understanding. now i have paid all of my debt off though my cost of living is going to increase, no more free ride!glad i can help out now though as they weren't exactly getting an easy ride themselves!

Id tell them that you expect it to be cashed within the next 5 working days or youll assume its lost and cancell it. Then deduct any charges for cancelling off the cheque you resend.

Hope your other half gets the job

fantastiyk

Hi everyone,
Start of "back to normal week" in our house.

Its a bit tight at the moment as groceries cost more when we're all at home. Hopefully we'll notice the change in groceries as the week goes on.

No debt busting today but nothing adding to the debt either.

Happy Monday folks!!

fantastiyk

February already
I joined the latest "1 debt vs 100 days part 11" challenge
I am aiming for a total of £300 - to pay off my overdraft. So far I have managed £20/£300, leaving £280 left to go.
I have difficulty making the money last from week to week but I found that if I join a challenge I am more likely to make some indent in the amount I am aiming for. I may not get this money all paid off in the 100 days (or I just might) but I will have made a start.
It also keeps me focussed on making sure I don't add to the debt.
I didn't join the NSD challenge in January but I managed to clock up 8 days of No Spending, so for this month I am going to set myself the challenge of 10 NSD and see how I get on. I will just keep a record of it here and see how it goes.
I read the other challenges on here for motivation and ideas, I just haven't joined them as I am not on here for quite a while at a time and feel if I join a challenge I ought to post regularly. I post on the 100 days challenge when I make a payment.
I am finding it easier to keep on going and not get caught out with making a bigger purchase than I can really afford. Meal planning and planning ahead for days out /visiting / events has really helped.
Wishing you all a Happy February!!

fantastiyk

Have had 3 no-spend days so far.

Made a big payment yesterday to 1 debts vs 100 days so my total there now stands at:

£121 / £300

I may have been a bit ambitious transferring the £101 over to this fund to pay off my overdraft as it will leave us a bit skint for the next week - am hoping that will ensure I have more "no-spend" days.

I get impatient waiting on the money to build up to put towards debt and then I feel I'm not getting anywhere. Which culminates in me making a big splurge towards the debt (used to be towards spending!) and I may be a bit unrealistic in my overzealous attempt to have it all gone. Then I spend the next week or two trying to get back into balance with money again.
This month I was able to transfer over the money we'd usually put towards the rates bill, and I used our clothes budget money and money I should be putting away for car tax and MOT. But a part of me just wants the overdraft gone so I can cancel it and save at least £90 this year on account charges. That £90 can then go back to the clothes, car tax and MOT budget.
We have also made a saving on our petrol budget as with the meal planning and more structured shopping there's no last minute trip a couple of times a week to the shop for whatever it was I forgot in the past.
So we are getting there - and patience is a virtue I may embrace on the journey :rotfl:

mamato3

You're doing so well with the challenges!! I'm pretty useless at them to be honest! Something always crops up then I completely lose what focus I have!!!

My shopping habbits are getting much better our meals are much more planned out which is great. Just to get everything else in order and I'll be flying!!!!

fantastiyk

Thanks Mamato3,
I kind of go to extremes - I either haven't got a penny to put towards debt repayments or then I move a chunk to it when the money comes in with a quick check of what payments are to go out and not properly making sure I've some aside for extras. Then when the unexpected extra shows up - either panic, take the money back from the repayment pot, or try to struggle through - and its a struggle. I'd like to learn to be more balanced about it all though. I'm wary of how benefit changes are going to hit us after the new tax year starts in April so am trying to make as many overpayments as I can.

Only hindsight will tell me if that has been a wise decision.

Today is "no spend day" number 4 :T

fantastiyk

I have clocked up 5 no spend days :j

It really does make a difference. Due to get paid on Wednesday and I still have £15 left :T

I haven't had to go dipping into the £101 I put away towards the overdraft last week - I so hope I can keep this up.

It's a beautiful day here - great for half term!

mamato3

:j well done on the NSDs - I've only managed 2 this month so far - not good!! Hoping for better next month!!!

Hope you've enjoyed the few lovely days we've been having I'm so looking forward to spring arriving

fantastiyk

I'm up to 7 no spend days. Not going to make the 10 at this stage and tomorrow will be a spend day but its more than I would have been doing before this. I think everyday I used to spend something!

On the down side - I have had 2 unexpected (unbudgeted for) bills and I'm going to have to raid the fund I had for paying off the overdraft. I have to pay one of them by tomorrow - have been holding off in the hope that money does drop from the sky - but need to get realistic. Will go sort it tomorrow when I am out anyway.:(

It gets so disheartening. I really thought I was getting somewhere. I knew I had spendy months coming up in March and April so was trying to get this paid off. Will be lucky if I manage to salvage £40 of this to keep for going towards the overdraft. I am also wary of how benefit changes in April will affect us and I wanted the overdraft gone before then.

I will hold off updating on the 1 debt vs 100 days thread until I have paid the bills and see what is left over.

I know I need to flip my mood right round to seeing it positively like at least I had the money to take from somewhere to pay these debts but AAAAAAARRRRRRRGGGGGHHHHHH :mad:

I will go log off. Switch off the internet - and save on the electric and internet usage. And I know that in either a few hours time or tomorrow I will have gotten over this hump and will move on.

mamato3

Don't be so hard on yourself 7 NSDs is good going! I think I only had 3 the whole of February! We all have those unexpected things that throw us of track but you really are doing so well, don't be disheartened. We have quite a few spendy months on the horizon! Not looking forward to it all but needs must and all that - we'll all get there in the end ... (hopefully)