Third Time Determined!

karmachilovething

Hello catriona79! Welcome, and thanks for dropping in. It would be lovely to have you along on my diary - I always feel more motivated to post if I know people might be reading or at the very least lurking :rotfl: So feel free to do either.

Let me know if you start a diary and I'll subscribe. It is quite useful, but sometimes I struggle for things to say and end up (feeling like I'm) waffling.

It sounds like we have very similar tendancies- clothes, shoes and eating out are my killers. Things that make me feel like a glamourous, bright young thing!

And I also otally understand the thing about emotional spending - feeling a bit low and going out to make yourself feel better. My last (as in prior to LBM and also my final) debt spiral was off the back of a particularly (emotionally) bad break-up. It started with a £180 dress and went from there! Recognising that the spending is due to emotional/temporary circumstances is half the battle so well done you!

I was recommended a book by another forumite (ages ago now, and so can't rememebr who) which was called "To buy or not to buy: why we over shop and how to stop" by April Lane Benson. If you don't mind self-helpy books (and I know some people do) I really recommend it.

karmachilovething

So, in keeping with the current thread of this, I've been resisting the lure of internet shopping again. Resisiting well though.

Lady in work gave me a voucher for £30 off £60 at Very, which I think is because I help her with something recently, so a sweet gesture. Now I only want to use it for something I already need, but the starting looking is a killer. It won't happen this month as I wanted to knock £700 off my overdaft and by the looks of it I'm not on target Not far off to be fair but still.

And I have had an expensive month, after last weekend's "needs" spree, and then today I paid for some oustanding (but not overdue) bills and a tiny of a top up shop. But I'm now pretty much at the point on my overdraft I was aiming for, so I know I'm going to do less well than I was aiming for. But tighten the belt, and knowing what else still has to come out this month, I'm now aiming for £500. Which would be another 5% off my debt, and would make me very happy.

I also booked the ferry for the France holiday, just under £60 return so I think that's pretty good. And my savings account for that is looking good too. I have a special separate spread sheet that shows what I need to save for it. It's very useful because it's a lot of money (£1500), and without that spreadsheet I'd have had no idea it would be that much.

Thing is now I'm in debt crushing mode I look at that £1500 and think that could be another 15% off my debt. Look what MSE has done to me! :rotfl: But I can't miss the wedding, I would be devastated to do that. And at least I can say it's the first holiday I will have had in years that is paid entirely in cash! :T

catriona79

Hi Karma Chi

Glad to hear you have been resisting Internet shopping - I've got out of the routine now and am not that bothered about clothes shopping at the moment. It's nice to have some support though!
Inspired by you, I have also started my diary - hopefully it will help me stay on the straight and narrow. If you want to pop round, it's here
I'll look out for you! It is fairly lonely on there

I have almost no money though , and we are only halfway through the month. Dear oh dear. But at least I won't overspend massively. Makes me think how I used to overspend, as this month I've been trying to be good and still not managed that well, even though I've hardly done any spending other than the necessities. Though, I suppose, that's not true. I did pay for my house insurance and an exam fee too. That's over £200. So maybe it's not too bad. Ah and also paid £50 to have guttering repaired. Maybe I'm excused then!;)

I know what you mean about going on holiday being a big spend, that could go on debts. I always think that too! I only went last summer as was almost bullied into it by my ex. But we need to remember that these things don't wait for us, neither does life. Need to strike the right balance and have a good time.

I'm sure you'll have a great time when you go. And you will see your friends get married. And eat French food. All worth the expense!:)

Take care

karmachilovething

I think the first few months of debt busting are never that productive. It's when your interest payments will be greatest, and there'll be bank charges etc coming in from previous months. It takes a little time to stop the juggernaut of debt and turn it around. I paid down £500 in the first 3 months, and now I'm looking to pay off £500 in one month. It will get better.

The France holiday will be good, and You're right if I deny myself everything I will just fall off the wagon. Or as soon as I'm debt free have a massive blow out. The hardcore route doesn't suit me, I need to learn better habits. And one of those better habits is saving for the things I want :T

catriona79

karmachilovething wrote: »

I think the first few months of debt busting are never that productive. It's when your interest payments will be greatest, and there'll be bank charges etc coming in from previous months. It takes a little time to stop the juggernaut of debt and turn it around. I paid down £500 in the first 3 months, and now I'm looking to pay off £500 in one month. It will get better.

The France holiday will be good, and You're right if I deny myself everything I will just fall off the wagon. Or as soon as I'm debt free have a massive blow out. The hardcore route doesn't suit me, I need to learn better habits. And one of those better habits is saving for the things I want :T

You're right re the beginning - it's always hard. I guess you get the excitement of planning something new and the hope but the downside is that you've got to change old habits and you may feel deprived...
It's even more true if you're paying high interest on your debts, realising how much money the credit costs you each month.

It helps to socialise with people who don't need to live a flashy life; I think I may have said that my ex who I have just broken up with, had a bit of a tendency to buying champagne by the bottle in bars. I remember going out with his friends for a night out and spending £190 on drinks! And I don't even like drinking that much... I miss him a lot as its still early days, but I'm glad that I won't have to do that again.

I have budgeted £100 a month for socialising. Which doesn't stretch far! But, like you, I'm going to make sure I have some fun along the way!

When I used to just flash my card whenever I wanted something, it didn't matter to me, but I love pay day now! It's exciting to see how the figures get smaller. Roll on Thu 28th!

Have a good Saturday

karmachilovething

catriona79 wrote: »

It helps to socialise with people who don't need to live a flashy life; I think I may have said that my ex who I have just broken up with, had a bit of a tendency to buying champagne by the bottle in bars. I remember going out with his friends for a night out and spending £190 on drinks! And I don't even like drinking that much... I miss him a lot as its still early days, but I'm glad that I won't have to do that again.

Yes, I know exactly what you mean about trying to keep up with other people's lifestyles. My BF lives on his own and so doesn't really cook, he can never be bothered for just one. So when I see him, there's nothing in the house to make a meal out of (seriously nothing, condiments and pesi max is all there is in the fridge :rotfl:) so we eat out. He can afford to do that (he earns more than me, and the flat belongs to his parents so no rent), but I can't and the feminist in me wanted to split the bills, even when it meant putting it on the credit card.

But no more! He knows about my financial situation, and is happy to pay. It's just myself I battle with everytime he does.

So, another couple of NSDs and lunch with a friend who happend to be in London yesterday, nice relaxed weekend, and relaxed week to come.

I made a spread sheet on Friday (I know how to have fun!) that tracks all my debts with interest acrued and payments made. I don't know how good a job I've done yet, but it's nice to see the impact of my debt fighting.

It's also made me realise that I should be attacking my barclaycard first. Because it has the higher rate of interest I thought I should be doing the overdraft. But because the total owed to the bank varies depending on where in the month I am the monthly interest is lower for the OD than the b-card. I'm going to leave the chunk I've taken off the OD there for now, but from next month it's overpayments to the Bcard.

karmachilovething

Evening Diary,

Not much to report since yesterday. I listed some things on eB*y on the free-listing weekend, but things are very slow. Only a few watchers. Hopefully it'll pick up through the week.

A bit of grocery shopping today, but all neccesities, no spends so I'm declaring a NSD. Well OK the Lindt chocloate wasn't a necessity, but it was on special offer . . .

Not much planned for the evening: bit of self development, dinner, some laudry, and hopefully some sewing

catriona79

karmachilovething wrote: »

Yes, I know exactly what you mean about trying to keep up with other people's lifestyles. My BF lives on his own and so doesn't really cook, he can never be bothered for just one. So when I see him, there's nothing in the house to make a meal out of (seriously nothing, condiments and pesi max is all there is in the fridge :rotfl:) so we eat out. He can afford to do that (he earns more than me, and the flat belongs to his parents so no rent), but I can't and the feminist in me wanted to split the bills, even when it meant putting it on the credit card.

But no more! He knows about my financial situation, and is happy to pay. It's just myself I battle with everytime he does.

KarmaChi, I understand that so well! I used to try to keep up too, but then gave up. My ex's parents were v generous, paid for his car insurance and gave him half whenever he wanted a new car. Also took him on holidays and for meals out. That meant his disposable income was quite a bit bigger than mine and in effect my debt increased, through me trying to keep up.
But what can you do?
My ex was v generous too and would have no problem paying for us both. Obviously, I'd still try to pull my weight, but we both knew that I couldn't do what he could.
Anyway, now I'm on the way to being better, and hopefully can undo the damage.

How have you been? It's payday on Thursday!

karmachilovething

catriona79 wrote: »

How have you been? It's payday on Thursday!

I wrote a post yesterday and then the internet connection went funny and it didn't register :mad: I was so annoyed I couldn't face writing it again. It was a really good post too!

But other than that I'm fine. How are you Catriona?

Anyway the gist was, yes it's payday tomorrow, and once I look forwarded to it because I'd been two weeks without money and now I look forward to it as it's the point when I check my debt reduction.

I haven't done very well this month with not spending. I could have done better. I was aiming to pay off £750, and then I downgraded it £500. The reality is more like £350. I know where the extra has gone. I just need to be a bit stricter with myself.

karmachilovething

So it's :T:T PAY DAY :T:T

And so I can announce that I have to day paid off 9% of my debt. And I am under the £9000 mark.

Having consulted my now all singing all dancing debt page of my spreadsheet, I know that in order to break the £8000 barrier I need to pay off £550 over and above my minimum payments.

So this will be my challenge for the April: £550 of overpayments. I know this means I'm going to have to make more money to achieve this so I will be hitting eBay hard and lookign for other sources of income . . .

KC