New Life, My DFW Diary!

Becks_in_Debt

wise words, I am off home now, i will catch up on monday. have a good weekend

Lucy1982_2

Well yet another weekend has flown by where does the time go!!

But I have had another loan repayment go out, which means that I am now only 85p over the £10,000 mark :j and I still have a load of repayments to go out. So hopefully I'll be nicely into £9,000 something :T For some reason knocking a number off makes it look a little bit less scary.

But I didn't have a great money saving weekend. I had to pick up a pescription at £6.85 :mad: and I went out for dinner with my best mate and our OH's which cost me £20 as I paid for my OH (we take it in turns) So I'm going to try and be really good for the rest of the month. I'm just sent off for my car tax. I'm only taxing it for 6 months on my mothers orders! :rotfl:

But I feel for some reason like I have made really big steps recently and I think that has something to do with realising things are being paid and I do owe less money. Telling Mum has helped to as I'm not facing this on my own any more. But it's just my overdraft that I'm a little worried about paying off at the moment, but I think that's just because so much of my money gets swallowed up by it on payday. Still even if I pay it off little by little it's better than nothing. I should also remember that next month I'll have another £60 to throw at it as my lower insurance payments will have kicked in and I'll be missing a store card payment as I've finished paying for it :T

So it'll all be good and roll on getting up the £10,000 mark!!

Lucy1982_2

I have just opened an new online savings account and transfered £50 into it. My thinking is that if I do this at the beginning of each month then I know I'll have at least £50 to transfer back into my overdraft at the end of the month.

I don't know if this makes any sense, but I'm hoping that if I alot it then I wont spend it.

Any other idea's on how to deal with my overdraft would be really welcome.

Thanks

Lucy1982_2

Wow just check Quidco and I earned £27 for taking out my car insurance!!! I'm really pleased as I have no idea how it works!!

Lucy1982_2

Hi all

Just wanted to stick up a little note as I think I've had a personal breakthrough today.

Firstly I went out for lunch yesterday with my Best friend and our OH's we split the bill between us £20 per couple. My best mate gave me cash for there half and I paid with my card. Normally I would just spend the cash and not even think about it. But I am going to pop to the bank tomorrow and pay in their £20 so that it doesn't get frittered away. :T This doesn't sound like a big thing, but for me it's huge!

Secondly a DVD that I really want has just been released and is half price on Amazon :j before moneysaving I would have just bought it. But I was thinking about it and it's my birthday on the 16th June and Mum has been asking what I want. So I've texted her asking for that again a little thing, but a bit of a breakthrough.

Just need to keep an eye on my spending this month. Budget is looking a little tight, but if I'm good it should be doable. I want to try and pay some more off my overdraft, rather than add to it!

But I'll keep everyone posted on how I get on.

Take care :A

Becks_in_Debt

Lucy1982 wrote: »

I have just opened an new online savings account and transfered £50 into it. My thinking is that if I do this at the beginning of each month then I know I'll have at least £50 to transfer back into my overdraft at the end of the month.

I don't know if this makes any sense, but I'm hoping that if I alot it then I wont spend it.

Any other idea's on how to deal with my overdraft would be really welcome.

Thanks

Hello lucy, why dont you open up a new bank account and get your wages paid into that, then atleast you can see your OD and pay into it and not have the temptation to spend it, also it doesnt swallow up a huge chunk of your wages also if you are going to do this I suggest that you cut up your bank card and set up a standing order from your new account into the account where your OD is.

Lucy1982_2

Hi Becks

I thought about doing this. But part of me wants to see how I get on this way. Sounds stupid I know. But it's almost like I need to know I wont go further into my overdraft. If this hasn't worked after a couple of months I'll open a new account.

I managed it last month so I'm hoping if I cut my needless spending again this month I'll manage it. Teaching myself some budgeting lessons isn't a bad thing. But we'll see. It's just soul destroying to see all your money swallowed up by the overdraft. But it'll get easier and I keep thinking it's only for another few months until I've paid off my big store card and then I'm going to try and hit the over draft really hard.

But we'll see, I'll keep it in mind. Thanks for the advice.

Becks_in_Debt

it's ok, when me and OH were well and truely into our od, i phoned up the bank and agreed a set amount that they would take off the OD each month, think it was about £78, basically told them when we wanted it paying off and when OH wages went in, they took the money and reduced the OD, worked really well with us as the highter the OD the more we spent each month, we dont have a od any more.

Although i dont think i should really be the one dishing out advice OH had just got a CC:eek: (told me after he applied) and we have both been accepted for a loan of £10k, :eek: , should get it in the bank in the next few weeks. We have done it so we can pay off all our debts, companies have offered us between 50-70% off so we can get them paid off a lot cheaper than what we owe them, plus then we can pay one year council tax and get infront of gas/electricity, pay for 1 yrs house/car insurance, all in all we will be better off each month so we can start to save, the apr is 16.8% which is so huge but i have a ccj, i know we shouldnt of done it, but i hate being in debt and receiving letters from people threatning us, this way, i can sort out my credit rating as well, as the job i want I will need to be credit checked, so atleast i can apply in about 12mths time once everything is cleared off and we have been making our monthly payments (without missing any) plus we can do loads around the house to up the property value :T ,

Lucy1982_2

I hope it works for you. I've been thinking about doing that myself, but as I've consolidated once already I've decided to try and beat it this way. I can cope with the debt, it's just the overdraft that gets me down as it's a never ending circle of debt! :mad:

But remember to try and snowball your new loan and pay it off quicker. My small loan as an APR of 16.9%, it's not nice, but am luck and I only took it out for a year so it ends in Feb 08 :T My big £10,000 loan was a graduate loan so I got a rate of 7.8, which is better!

I've managed to get my overdraft down from £2,000 and cut the limit to £500, so I'm not doing to badly, but it takes so long. Now I've worked out what I need to do I want it all paid off now. Unfortuately it doesn't work like that which I think is very unfair! :rotfl:

Becks_in_Debt

well done you have lowered your OD loads, i didnt reaslie it was that high in the first place :T .
It's great because it means we can have a head start on paying for things, the only down fall is we can not pay less than £2k off at any one time (extra not inc the monthly repayments), so we will have to save and transfer it every now and then, but with paying off all the debts and council tax they equal £300 a month on there own, thats without gas/electricity/t.v. license/car ins/home ins which we will be paying off in one go for the year apart from gas and electricity we currently owe powergen £886.00 this is from over the winter period plus as we have been behind for a while it has just got larger and larger, so get that paid off then we are going to go to a cheaper company, there rates are huge.
I will let you know how it goes, things have improved already between me & OH since we agreed to do this as we arent stressing about money and lack of it, i can finally finish off our bedroom and have wardrobes, we havent had a wardrobe in just under a year as ours collapsed (lots of clothes) and we havent been able to afford any since, I am going to LOVE :happyhear ironing all my clothes and hanging them up instead of doing what i do at the min, have them in a heap on the floor and iron them when i need them