Growing up and facing the debt burden

justajamjar

Its pretty scary to see the amounts just fly back up and realise every cent I spend for the rest of the month will be just pushing the debt up...
On top of this I am also looking to move houses which will push my overall rent and bills from 550 to 750. What I do like to see is that my calculations arent too far off as I have budgeted £20 per day and when I look at the calculator above I have 500 plus the 100 for travel (which means £20 a day)

justajamjar

2013 Budget £7320 spend at the moment £836 where it should be £120.... overspend of £716 or 36 NSD!!!! wow (to be fair the flight for the wedding was £570)

justajamjar

Spend £975/£7320 now overspend of 815 (41 NSD)
Whilst some of it went to charity and some on home food there was £100 on entertainment which wasnt needed.....

I am off to the Chelsea game tomorrow so will be another big spend day but on the positive side have made my lunches for the week and weekend so hopefully will have a few quiet days after tomorrow night. Looking forward to a quiet weekend with cycling and swimming on the cards!!!!

Indebted.Dunce

JAJJ,

I am glad to read that you had a great holiday.

I am loving the NY resolutions - I have not made any myself but having read yours, I am a bit inspired so might come up with a few soon (... stop procrastinating is supposed to one of them ).

I read your SOA with a bit of interest, you seem to be missing a few things like clothing, entertainment, insurance etc unless the approach is to restrict yourself based on what you have got left after paying the essentials? I would strongly recommend keeping a spending diary or using a software like Microsoft Money to keep track of your money.

How come you have decided to move house? I personally thought you were in a great location at a brilliant price. If you are indeed moving then it might be worth doing a new SOA with the new housing costs etc.

Overspending does happen, I would know all about it. My January has been less than ideal, having had to pay for some new clothes and an orthodontic appointment. Luckily I am doing the "dryathlon" so might be a little less expensive than it would have been. Seems like you will be doing an average of 5 NSDs pm.

justajamjar

£1230/£7320 spent, which includes a refundable deposit for next weekend for a surprise party... I am now 49 days over budget, which definitely needs to comedown, will be a good respite on holiday as a friend owes me money which shouldcover tthe trip.

Need to update my goals and look forward to payday...

Have a good month all.

justajamjar

Thanks for posting ID, looking to move in with a few mates in an awesome place. We will see what happens as comfortable where I am but would really enjoy a place I want to go home to.

Good luck with the month ID

Indebted.Dunce

Your explanation about moving makes absolute sense! There is nothing worse than going to a house to sleep!

Enjoy the weekend and the surprise party! I am sure you will catch up on the 49 NSDs in no time!

justajamjar

£1750/£7320 spent 300 on my swimming and squash membership for the year. A few more expenses as well but not too bad.

The upside is I made good money on a share invested in and decided to clear the spread account which means my Halifax card will be paid off. (I have transferred a balance some to a new card - tescos) will update more when I have tim .

Moving in with mates fell through so get to take advantage of the cheap rent for a while longer....

justajamjar

Its been slow going and my debt has gone up since my last post as I have used £3k which is tied up into an investment - technically I can cash in but it would mean losing half of that £3k hopefully there will be a decent return by the end of the year.....

Going to be a tough month but these days always are. Spending coming down irrational spend still plaguing me

justajamjar

Will be writing up some more this week but looks like there will be progress to the overall total.... I have been pretty good in the past 6 weeks, although there has been some home necessities. I will try do a weekly summary at the end of the week and bring back my £20 a day spend which includes everything except rent and utilities (incl phone) this meand food, clothing transport, entertainment and everything else is budgetted to £140 a week.

I will start the £20 spend tracker from Thursdaty (pay day) had a few thing come through for me this week which hopefully means I can get out of my overdraft at the end of the month and keep up my repayments....

I know I should do a repayment tracker as #I find as soon as I pay down some debt to a card I then spend againt that card again.

I also know my credit rating is getting a bit of a slap as I now have cards with hal (limit 8.2), hsbc (limit 2.7), tescos(2.5) and barclays (12)..... I think I need to reduce these cards down to limits I need - I dont think I will be going over the balance with barclays again... and hoping to close out the halifax account asap.... I am also due to pay interest on barclays soon and already doing so on halifax....