Determined diva's get outta debt diary!

Determined_diva

Hi diary

Sorry I haven't been on here lately - lack of a computer hasn't helped and only my phone to do it has prevented me (I like a big screen and cup of tea when I'm on here!!)

A lot has happened ... My work announced redundancies which I was made redundant.

luckily I found another job before I left with a £8k pay rise!!

I got a decent payout and starting to pay people back with it. I'm going to hold in to a little bit of the money (or do you disagree?) and keep chipping away at the balance of debt I have. Need to work through figures this weekend (I am buying a laptop tonight) and can update this weekend as I have no idea on what I owe anymore I'm afraid to say as I used my trusted spreadsheet when I had my work laptop (I saved it on USB so I got it still)

I've paid £2,100 so far on debt just sitting on tube going to my new amazing job! I have paid:
£800 - credit card
£700 - pay day loan 1
£600 - pay day loan 2

So happy they are out of my LIFE!!

DDx

Determined_diva

Dear Diary,


I started my 5 year plan today - I want to have £30k saved up in 5 years time from now so that works out £500pm


Sounds crazy when I am in debt but as I bought YNAB, it tells you to budget for the future and not the past (which is where my debt is from!)


In my budget is also a repayment plan so working the 2 side by side which is going to be tough but got to be done!!


What is has thrown out from doing the YNAB is that its going to take me longer that what I thought in my head to get out of debt and on the property ladder :-(


I am going to do what ever I can to accelerate this! All I keep doing is going out with my friends (who btw are not in debt, earn more than me and also are on the property ladder!)


I need to make these plans happen over the next 5 years otherwise I will be back to square 1 as usual


DDx

Determined_diva

I thought I would dust this diary off and put some love back into it.

What has happened over the past year? Weeelllllll - debt is now at £7,000 and have not really moved the needle! So frustrating that I keep burying my head in the sand!

I have also gone self employed as of 1st January 2017. Exciting times ahead, but also a dip in earnings (at least initially)

I am going through my budget now to recheck it and with careful cutbacks (was spending way too much on socialising in my city job) I can still chip away at the debt and pay my bills.

I am really excited about 2017 as before I just knew I was guaranteed my pay each month and didnt really put much focus into cutting back and clearing debt (and having an emergency fund) as now being self employed my money is not guaranteed and I need both a emergency fund and also cleared debt!

My first little change for today is not going out for my friends birthday lunch but will pop in for 1 drink later. This will cost me about £6.00 rather than the last birthday meal out at £50.00!

2017.... the year of change!
Dx

Determined_diva

Dear Diary,

This week I have still been buying alcohol and going out for lunches which I need to STOP! I also didn't prep food for on the road which I need to start doing (some days I went home in between shifts to eat but then this equals more tube fare so a lose/lose situation).

I managed to save £60.00 this week though to take my emergency fund up to £192.00.
It may look odd to be saving a EF when I have debt, but I need to have some savings behind me for emergencies - especially as I am now self employed.
Focus for next week is:

1. Spend less on food . I buy too much and it doesn't get used
2. Be more "clever" on my travelling in town to be able to cut down on costs.
3. Alcohol free week and then put the money into the savings pot!

Until next week!
DDx

Determined_diva

Dear Diary,

I have been away so not much chance to keep this diary "alive"

I have the real awakening that self employment (at the moment) is not all it is cracked up to be! I am sick of the long gaps between work throughout the day and lack of income. Looking at my old earnings v now - since Jan I have lost around £7k eek!!!

I know the long term gain but whilst in debt it is better for me to have the day job and keep the self employment outside of work hours to keep extra income coming in to tackle this mountain of debt (and now a mortgage)

I have applied to 2 jobs this week - 1 which I have an interview for next week.
I have started a new YNAB to keep track of spending and I can really see how little I have - tough April ahead!!!

Focus for the week ahead:
- Meditate - I am going to need this now more than ever
- Keep thinking that I have been on here for 5 years and no closer to DFD due to my silly spending - now is the time to learn once and for all!!!!!
- Apply for 3 more jobs that I would be interested in.
- Track on YNAB
- Learn to say "no" all of a sudden everyone wants to see me for dinner... just say N.O

Until next week
DDx

Determined_diva

April is nearly here!!

My goals and focuses for April are:
- NSD x 20 (I currently spend everyday!)
- Track budget on YNAB
- Tube off peak 2-6 days x 15 (I currently travel all the way into zone 1)
- Work in cash only
- Set aside my emergency fund first as I dont have one at the moment
- Keep looking for extra work to take on(I am self employed now)
- Apply for 5 jobs that I would like to do (I left the office job in December, but need to get another one now as money is tight)
- Alcohol days x 4 (its my one vice (I dont have chocolate or smoke etc.)
- Keep occupied
- Log into my diary every sunday
- Check into MSE (any thread) daily so I cant block out the fact I am in debt and I need to sort it out!
- Load x10 items onto ebay
- No sky movies bought
- Update the top sheet with the debt total for the month of April (with and without mortgage)

I am going to do all of the above and this will make a small change towards my end goal of being debt free... little changes, big successes right!!!

DDx

Determined_diva

Happy Saturday!!

First day of the month and my budgets have been set!! woo hoo!
Cant wait to get stuck in and actually start delivering on what I need to do... be debt free by the time I am 40 (I am 37 in May)

Going to be working super hard from now on - to get rid of this weight around my neck and start to enjoy life a little more without the worry!
Today I went £6.00 under my weekly shop allowance and I am always usually waaaaayyyy over!

feeling super POSITIVE!!! Woo hoo. Who knew getting on track with paying off debt could be so amazing and why didnt I do this before .. go me!!!

DDx

Savy.Student

Hi Determined Diva
Just popped in to say a big 'You go girl!' for getting back on track. I've just read through all of your diary and I'm super happy that you've finally got onto the property ladder! :T If you can do that, you can do anything if you put your mind to it! :beer:

Determined_diva

Thank you Savvy Student!!!

I had even better news... got myself some pub work to help me pay my debts off woo hoo!
Not sure how often it will be at the moment, but going to use every shift I get towards paying off the debt! The upcoming shift I have guaranteed is £55 excluding tips.

Here is a question ... would you use earnings + tips off the debt or would you use wages for debt and tips for emergency fund (which I do not have at the moment)?

Thanks!
DDx

River.Bee

Determined_diva wrote: »

Here is a question ... would you use earnings + tips off the debt or would you use wages for debt and tips for emergency fund (which I do not have at the moment)?

Thanks!
DDx

Hello! I love the determination you show in your writings

Personally I would choose option 2. You never know what lemons life will throw at you financially wise, so it'll be good a idea to be prepared. Otherwise an emergency could arise and throw you back into debt again and undo all your steady progress.

Take care, and keep writing on here, I loved reading your diary! haha