Free by Fifty

freebyfifty

Time to start a new diary. My last one fell by the wayside a few months back and I have the sudden urge to get my head into some kind of order. This seemed like a good place to do it

I have been plodding away at this MSE lark for over a year now and it reaaly has become second nature to me. I have budgets, which I stick to religiously and my beloved spreadsheets and lists that I spend many hours obsessing over on an almost daily basis. To be honest I love MSEing :money:

But although my budgets and spreadsheets etc are all in order I don't seem to have any clear plan on how to actually get rid of my debt and be free by fifty, hence my ramblings in this new diary

2012 saw me get rid of all my catalogue debt And I have made some serious inroads into paying off my humungous overdraft. So I have been doing something It just doesn't feel like it was quite enough.

So here is my first goal - To clear the overdraft
At the beginning of 2012 it stood at a massive £2500 - yes, you read it right, I was two and a half thousand pounds overdrawn :eek::eek::o
This morning, when I checked my account online, I am £428.09 overdrawn. So it seems as if I have managed to pay back £2000, which is a bit of result

So this is the one I am concentrating on first. My reasoning is, that if I can stay in credit in the bank then I can see how much I have and how much I can pay back to some of my other debts. Once I am in credit I will find a new target for my MSE obsessing and get that gone too.

So my plan for 2013 is to be living within my means and not within my overdraft and to have another debt blitzed too :T

Watch this space because I'll be back with random stuff that just keeps popping into my head.

WelshWoofer

Well done on your efforts so far!
Good luck with 2013 - I'll pop back for a nosey!

freebyfifty

Thank you Welshwoofer for popping by and it was great to see you on the NSD thread

Another day and another NSD yesterday I have not spent one single teeny weeny penny for a week now. That is such a great feeling I will have to pop out today for some bread and milk but that is ALL I am going to buy. My cupboards and freezer are fit to burst so there is nothing I need. The blinkers will have to be on to get me past the Mr T sale though :eek:

As it is Saturday there is no change in my bank account so I am still at £428 overdrawn. But even that figure makes me smile compared to what it was

The big debate going on in my head this morning is........do I open my 50p sealed pot?
I have saved every 50p I've got since this time last year. It is no where near full but do I open it and bank the cash and start again or do I keep going for another year? :undecided
I keep thinking that the little bit that is in there is dead money and not doing anything for me. It could be in the bank and making me a little less overdrawn. I could use two of the 50p's to buy another sealed pot in the £1 shop and start again. BUT it is not full and I wanted to open it when it was full :undecided

Oh heck, decisions decisions :eek:

freebyfifty

Okay, so I opened it Didn't take very long to mull that one over, did I?

Never mind, £52.50 has now been liberated from it's tin and £50 will be deposited in my bank account on Monday, £1 used to buy a new tin and the spare £1.50 put into new tin to start me off again

£52.50 is the target to beat for next year. I might even be totally reckless and consider putting in the occasional £1 coin :rotfl:

elantan

Will you make much difference in the interest you will pay cashing it in ?

freebyfifty

elantan wrote: »

Will you make much difference in the interest you will pay cashing it in ?

Hi elantan

Well, according to my spreadsheet (I do love a spreadsheet) it will get my account into credit quicker and then I'll stop paying the ridiculous charge of £1 a day. In fact, according to my spreadsheet (which has been done to the end of 2013) IF I am very careful in January then after payday (15th) I won't be overdrawn again

Anyway, it has be opened and the cash will be deposited on Monday Is it silly of me to be ridiculously excited :j

rising_from_the_ashes

freebyfifty wrote: »

At the beginning of 2012 it stood at a massive £2500 - yes, you read it right, I was two and a half thousand pounds overdrawn :eek::eek::o
This morning, when I checked my account online, I am £428.09 overdrawn. So it seems as if I have managed to pay back £2000, which is a bit of result

:T That's fantastic Freeby:T

It'll be gone in no time - esp now the 50p have been added:D

For the 50p .... come & join us on the 50p savers thread https://forums.moneysavingexpert.com/discussion/4339999

*subscribes*

freebyfifty

rising_from_the_ashes wrote: »

:T That's fantastic Freeby:T

It'll be gone in no time - esp now the 50p have been added:D

For the 50p .... come & join us on the 50p savers thread https://forums.moneysavingexpert.com/discussion/4339999

*subscribes*

Hiya Rising, how lovely to see you here :happyhear

Thanks for the link to the 50p savers, I'm off to have a look.
It is amazing how much is on this site :money:

freebyfifty

MSE -y type things done today so far

50p tin opened
Three items listed on ebay while it is free
20 points added to my k3nco rewards account which will eventually get me some free stuff to sell on ebay :rotfl:

*Robin*

Hello Freebyfifty, :hello:

I love your user-name! And this:

freebyfifty wrote: »

So my plan for 2013 is to be living within my means and not within my overdraft and to have another debt blitzed too :T

..That's what I was doing for years, living within my overdraft - and loans forced on me by the bank when I came too close to the limit.
No more! <she said>.

Good Luck with getting rid of your OD in 2013 - have subscribed to your diary and will be cheering you on from the sidelines.

freebyfifty

*Robin* wrote: »

Hello Freebyfifty, :hello:

I love your user-name! And this:



..That's what I was doing for years, living within my overdraft - and loans forced on me by the bank when I came too close to the limit.
No more! <she said>.

Good Luck with getting rid of your OD in 2013 - have subscribed to your diary and will be cheering you on from the sidelines.

Thank you very much and thank you for subscribing :A
The more cheering on I get the better