8 year plan to retirement

Ninno820

Hi all - this is my second year of keeping a debt diary - but like many others, I tend to start well and then drop off. Losing concentration!

Brief history - in January 2012 I started to tackle the mountain of debt and have managed to reduce it by about £1000 - not a great effort but at least it hasn't gone up.

I have now given myself an action plan and am focussing on being debt free by the time I retire. This weeks aims are:-
1) [STRIKE]establish a budget for the new year[/STRIKE]2) [STRIKE]apply for a second bank account which will pay for the every day costs - petrol & groceries[/STRIKE]3) [STRIKE]do a stock check on the freezer and cupboards so that I can aim to reduce spending to the minimum in January.[/STRIKE]
I know that a loan expires at the end of next november which will release £300 into the debt repayment schedule but I want to try and repay the overdraft by then so that we can start to tackle the credit cards!

Wish me luck!

Ninno820

Personal Challenge 1:- Pay off overdraft - £1800
Personal Challenge 2:- Pay off Evans cc - £1600
Personal Challenge 3:- Lose 10 stone by end of Oct 2013 -3 stone 12 lbs so far

beanielou

Happy siney new diary

Ninno820

Thankyou beanielou!

Today will be a NSD - but, perhaps more importantly, is another day of focus. I have completed the freezer stock check and have an amazing 54 meals worth of protein!

I have also established a working budget which has revealed an amazing waste of money each month. The budget will kick in on December 23rd - my next pay day. I am hoping to kick this effort off in style by really cutting back to basics. I am with family over christmas so wont have left overs but want to get to the next payday in January with just buying fruit and veg. I have a spare change jar with nearly £35 in it so I am hoping to use that to fund me and prevent me hitting the account!

Off now to join a challenge or tow to keep me motivated.

Ninno820

Today's mse moment has been starting the grocery inventory - I have enough food to feed thousands it would seem! Tonight is also weigh in night and I am desperate to lose two pounds. In septmber I set myself a particular goal to reach by christmas and I am now two pounds away! Wish me luck.

Ninno820

Okay - so back to yesterday. I lost my 2lbs (2.5 to be exact) and was delerious to see my goal appear. Now - just to be extra greedy I want another two pounds this week to gain my 4 stone award before christmas.

Financially its another NSD day. I am just about to sort through the cupboards to see if I have the right spices to make Nigella's spaghetti spice mix for some christmas presents. Its very much a "make do and mend" christmas this year - it helps with the de-cluttering anyway!

HeadAboveWater

Hi :wave:

Just spied your diary and thought I'd comment!

Great job on the food hunt so far! Amazing what you find when you dig deep enough in the cupboards and freezer!! Sounds like you won't need to food shop for quite some time, bar the milk, bread and fresh fruit and veg!

Are you happy with your incomings/outgoings every month? Maybe you could post a statement of affairs on here? There may be other ways in which you could cut back your monthly spending, which will allow you to throw more money towards your debt.

Good luck! I'm going to subscribe and follow to see how you're doing!

HAW

Ninno820

Thanks for readiing my rumblings HAW.

I haven't posted a SOA because Idid last year and pared everything back to where I feel comfortable. Truthfully I have a really decent salary and just need to obsess about saving money for a while to keep me focussed.

Yesaterday was a pre-planned day out with friends in Leeds but today and been a quiet NSD - indoors and trying to finish all those last minute christmas jobs - wrapping presents etc.

When I got home my debit card had arrived for my new bank account. I have not asked for an overdraft (for obvious reasons) and am planning to transfer the money for groceries and petrol + any additional planned spening that month - into this new account so that I can keep a better track of expenditure.

Ninno820

Today was another NSD - its so much easier when you are away from temptation at work! Lunch was hm carrot and ginger soup - eeking out those pre christmas veg.

The hm soup also works for the weightloss - so two birds with one stone.

I have also opened an etsy shop - not sure what to sell yet but am planning on building up a small stock over the holiday to try my luck.

Ninno820

Another NSD yesterday but today had to splurge out on dog food. Frustratingly I have also realised that a credit card payment was left off my budget which reduces my debt payments - I just knew that it was too good to be true!

[Deleted User]

I know that you mentioned that you paired back the SOA about this time last year, but just remember to check that utilities and home phone, mobile and insurances snd sny other regular bills every now and again (maybe yearly) to make sure that you remain on the cheapest tariffs.

Congrats on what you've achieved so far, and good luck with your future goals,

D9