Third Time Determined!

karmachilovething

:j Happy New Year Diary! :j

I haven't written here is such a long time. Christmas did really take over, and I didn't spend much time on the forum over the Christmas break. And the bank balance shows it December I treaded water at 27%, not the triumphant 30% as previously advertised (!)

But much has changed over at Karma Towers.

I inherited a large sum of money at the end of last year. No, a HUGE sum of money. So I have bought a flat, and I'm out of rented accomodation! I know a mortgage is another form of debt, but it's only £14 more than I used to pay as rent in a shared house (just rent, no bills) so there isn't much between the two.

There is still some money left, so I could clear my unsecured debts completely, but the flat needs quite a lot of work (heating and kitchen not been updated since the 1970s) so for the moment I am going to hold onto it and invest in the property.

Also I think that working to pay off the debt is a better way to teach myself the lesson to live within my means. If I magically pay it off with a windfall, I'm not sure that I won't fall into the same trap in the future. And now that I have the flat, it has made me more considerate about what I do spend my money on. Every time I spend I know it's taking money away that I could be spending on the flat, to make a home that I want.

I believe this is the right choice for me, but I have to say I was reluctant to say it here as it's not the fully approved MSE way

karmachilovething

So I'm feeling a little down today, like I'm treading water with the debt busting.

If I check my spread sheet it tells me I'm doing just fine. And I shuffled my CC debts around again so they're all on 0% for a year or more, so really I ahve nothing to be upset about bout. It;s just one of those slow periods, which is what debt busting is mostly about.

It's about not doing, more than it is about doing. Which is where it's hard because it's hard to see it happening.

karmachilovething

Two things to report today:

1. I got a flat tyre over the weekend, so stopped on the way to work today to see about getting it fixed. They were able to do it on the spot, and only cost me £42 Well, OK that's a lot of money, but it's also less than a tank of petrol and could have been a lot owrse, so I was pretty happy.

Plus I had the money in my car expenses account to cover it, so no additional cost this month! :T

2. I adjusted my spreadsheet to show that all my CC debt is on 0% interest, and I have to say it makes the numbers look a lot better I have set up standing orders for a basic amount (plus a bit) so even if I pay nothing extra I am well on the way to debt busting those.

Both these things have made me feel so much better about where I'm at financially. Just goes to show the lows come and (more importantly) go

karmachilovething

Another victory today! I the flat I've just bought has a key meter (not happy about it, but for now it'll do) and the previous owner had a huge debt on it, so in order to get any electricity in the flat I had to put a lot of money on the key.

Well I spoke to the SSE today with my meter readings and they are refunding all the money I spent on the old oweners debt to my account: £235 in total :T So that should see me through to the summer at least, fingers crossed a bit longer!

karmachilovething

Well the saga of the key meter goes on: the £235 refund registered fine :T but in order to reset the weekly charge (£5 higher as an ongoing payment ot the debt) I've been having to put £1 on the key everyday :mad: It's just a huge hassle to slep down to the shop every day. Fingers crossed it will have registered today so I don't have to do it again tonight.

Other than that, not much to report. Not many NSDs being achieved, partly due to meter top-ups, but lots of low spend daysI hope to have clawed back a little on Decembers overspend to be able to have counted a reduction in debts again.

karmachilovething

Today is a spendy day, because of a pre-arranged meet up with a friend to go to our ceramics class.

So in trying to lump costs together I just topped up my Oxford-London travel card. I use it to go an visit the BF, and so I jumped at the offer to get 14% (for 2014) off the cost of something I would have bought in a couple of week anyway. I normally buy in blocks of 12 single trips (this is the cheapest way to get bus tickets, £11.60 return rather than £14 bought on the day) but as there was the discount I decided to buy 24 to make the most of it As I've been restrained in my spending this month it can come of main cash flow too :T

karmachilovething

I've just filed my tax return for last year and I have a refund due of the princely sum of £7.55 :T Not much but I'll take it quite happily.

It was interesting go back over my statements from almost 2 years ago to see where I was back then. Where I was was slowly decending into debt! Bit by bit, I was overspending and racking up the costs. It was facinating as I barely recognised that person. Hopefully I won't ever meet her again.

What was also interesting was looking at the lists of things I spent on and most of it I couldn't remeber what it was! And the things I could identify and remebered fondly were always time spent (meals or holidays) with friends. Well there's something to try and hold in my mind for tax year 2014-5

karmachilovething

I've realised I didn't do a pay day update for January . . .

Debt Total now stands at £6,765.64
Total percentage paid 29%
:j:j:j

So I've come back from my December over spends to be back on track (more or less)

February will be short, but potentially costly so we'll see how that goes . . .

Other than that, not much to report. 3 NSDs this week, and spends today.

In fact I do have a story: I bought a pair of boots in the sale, not absolutely necessary but heavily reduced. They came, they were slightly too big and I generally wasn't keen so I sent them back today. Cost £8.60 though :eek::eek: So that's a lesson taught! :rotfl: £15 spent on postage and nothing gained . . . will be thinking hard before I impluse purchase again.

karmachilovething

Not much to report from Karma Towers. I have been racking up the SFDs this month, which is promising.

And I've been doing a lot more crafting. I have several things on the go: patching the ripped knee of a pair of jeans :money:; hemming my bridesmaid dress for BGF wedding in April; and tomorrow will be making a tablet pocket for DBF for Valentines.

So far the only materials I've bought for these projects has been a canvas roll to help hem the chiffon on the dress, which will be reuseable so almost an investment. Everything else has come from my stash.:T

karmachilovething

Oh the last bit of February didn't go well,. and I am ashamed to report my debts have increased New total is (no fanfare)

£7,166.68 or 25% of debt paid

So it is a strict March for me, and I will be trying to reverse that inclination towards the slow slide backwards. I do have some freelance work that will be invocied tonight, so hopefully that will bring me back under the £7k mark again.

Part of that will be trying to post regularly here, which I've let slide in a major way.

Today will be spends day, I have dry cleaning to collect and a(nother) garage bill to pay.