My brand new debt fighting diary

datlex

Well thought I would drop in and put a new entry on my dfw diary. So far my plans are working regarding money management. Setting myself a budget for groceries really seems to help and I challenge myself each week to go under budget even if by just £1. Don't always succeed but if I am going to go over, I put back something that isn't essential that week.

I'm also finding that now I know I have a certain amount left over each week after bills are accounted for, I actually am more careful with that money too. My challenge to myself is to always have a little bit of it left over. This is then transferred to my so called savings account, though in reality it tends to be short term savings. At the mo for example I am saving up towards fixing my car got £337 towards it so far. Not sure how much it is going to cost but needs an MOT, new wing mirrors, new back windscreen wiper (whole arm - not just blades), possible new battery - it is totally flat, new brake pipes and may have issues with the heating system. Got to get it sorted by the end of the month!! Will definitely have £396 before I get the work done on it. Am hoping that will be enough to cover the work, else I'll be saving up to pay the extra off my credit card. Still even if costs a grand still cheaper than buying a new car!! The headache will be over by the end of the month at least.

Next on my list then is to save up for a couple of new sofas/ recliners. Going to get them from local heart foundation but still going to cost over £100 each based on what they had when went and had a reccy. Aim is to have saved for those by August.

Then am planning on saving for free sat tv. Only got freeview at the minute which is appalling reception in a ground floor flat. From research that is going to cost at least £100. If go for the sky option, it will be £175 minimum. Plan is to have that in time for Christmas.

I might be able to get these things sooner, but am allowing for unexpected expenses and my share of a trip to Northern Ireland.

Keep finding new things to add to my wants list. I added a dry air fryer to it today.

On a positive note, I used marginally less electricity last month to the one before. Not sure how far that is down to my solar panels. Need to work out how to make the most of them. British Gas suggested setting my slow cooker to come on. Not sure whether I can do the same with my microwave, or indeed if it is safe to do so.

Still should get on with other things and think on ways to decrease my expenses further in the short term.

datlex

Weekend away this weekend for my 40th eeek!! One night being paid by partner as is all transport and food. One night hotel reserved by me but he may still pay. Got myself a new dress for the weekend, will take it away with me to Northern Ireland later in the year and also away for a girly weekend so should get some good use out of it.
Got my car booked in to be fixed next Wednesday - saved up £464 towards paying for it. Will be £484 next Wednesday morning. Hopefully won't cost more than that. Hopefully will cost less, giving me money towards my next saving project - sofas for lounge to replace cheap uncomfy futons.
Looks like won't be any spare money here this week to send to savings but also won't be going into any overdraft so shouldn't be an issue.
Pay is going up slightly soon. I've calculated will be about £30 extra a week. Will find out in a couple of week's time when I get my first pay slip at the new rate. Hopefully, will be able to save up sooner for the things I need for my flat. Am determined to save up for items rather than put anything on credit cards (I will however continue to use my card to pay for things - but only if I have the money aside to pay for it- it is possible a short term exception may happen once get car repair bill).
Still it is very late, so I am off to bed.

datlex

Am considering selling my car, don't hardly use it so might be better off financially for time being to sell it and put the money I have saved up for repairs towards the sofas I need. I'm going to investigate today and tomorrow what options there are for selling the car. Not sure if it will be worth seeing if the AA can get it started tomorrow and even if they can whether that will have any impact on the value at all. I don't know much about selling cars if I am really honest, got this one new 11 years ago at the end of the month. Need to get the car sold or fixed by then. Going to be an interesting day Monday getting it sorted. Next step to look up where to get prices from - I have heard of that we buy company, but not sure how good they are. I'm not expecting a high price for the car, but obviously I want to get as good a price as I can even if it is just £50 difference.

It will also save me the insurance premium each month, though I'm not sure what the cancellation fee will be yet. I'm also not sure if will get anything back for the car tax for the few months that haven't been used yet.

datlex

Right today I did my research into selling my car as it is and also how much would be worth if fixed. Works out at a mere £110 if I sell it as is or £600 if fixed by which I mean the work I am expecting it to need plus fixing a few dents on the paint work which have been there for years without issue. My guestimate is that it would cost more than £600 to do all that work so I'm planning on getting rid of it altogether. Need to make the necessary calls etc tomorrow after work. Aiming to get it collected at the weekend. Will then be able to start putting the money I had put aside each week towards car tax and mot etc towards my savings fund.
Had been thinking along lines of cheaper to fix than to get a new car, when really the consideration was is it cheaper to fix for minimal use with high risk of vandalism or cheaper to be car free.

datlex

Well this week, my beloved had a problem with his car - the clutch went. We managed to find a mechanic who fixed it for £150 (he was recommended by someone my bf knows). This has made me reconsider whether I should get rid of my car. I'm therefore putting it in for its MOT this week. I know it will fail but the mechanic advises that I will then know whether there are any hidden issues which need fixing on the car other than the couple of things I know about and what sort of money I'll be facing to fix them, I can then make an informed decision. It will cost £40 but the MOT would cost about that any way so I won't really be loosing. I know the mirrors and the battery I need are going to cost me £117, if I do decide to keep the car which is a potential total layout so far of £157. This leaves £380 in my bank to cover anything else wrong - it is possible that the vehicle needs a new fan (apparently these are fairly cheap second hand) as this did not seem to kick in.

Also this week I got my council tax bill through. I just pay mine weekly by credit card (for the points) It has gone up £0.26 each week!! Which along with a small rent increase means I'll be paying out £4.25 a week extra from April.

I should hopefully find out in the next couple of weeks the impact of my small pay increase on my net weekly salary.

Still on a small positive I got 22p back on my shopping to make it no more than had I bought it elsewhere apparently. Though they are crafty - they do it on the whole value of what you buy not individual items. Still I was able to use the voucher today as part of my shopping.

datlex

MOT under way. Will find out later what the damage is regarding getting it fixed. Have been told there is a possibility some of the work might be covered by my break down repair cover - but not taking that for granted. I know that I will have to pay out at least the cost of MOT plus £129 (already saved up). Just hoping and praying that the rest of the costs are affordable, I think it needs something doing with the brakes so that might be another couple of hundred pounds. Still if it is by any miracle below the amount I have saved, it will mean I can get one of the other things I am saving for sooner.

datlex

No news yesterday from the garage regarding what needs fixing on the car. Since today is Easter Sunday, I very much doubt I will hear anything from them- I'd be amazed if they are open! I'm hoping I might hear something tomorrow so at least I know what sort of money it might cost and be able to assess whether it is worth getting the work done. I know it might take a few days to get the work done, particularly the mirrors as those have to be ordered in. Realistically, I'm not expecting to be able to collect the car until the weekend. All I'm concerned about is the garage just going ahead and doing the work without checking first with me.

On the spend front this week, I treated myself to one of those one cup boilers- it was reduced to £19.99 in B&M. It certainly is a lot quicker than boiling a kettle for a cup of tea. They say they are more energy efficient than kettles, though I haven't as yet compared the energy usage when that is boiling with the kettle. One thing is certain though, you don't waste water- we all know the minimum in a kettle is more than needed for a mug of tea or coffee and if it is left overnight you need to chuck it as it will be stale.

Looked at my balance at a cash point, these seem slightly more accurate than the online bank as they tell you what your balance is and what is available. It did seem higher than expected so I am going to double check my spread sheets to check how much I think I should have.

datlex

Really pleased my car is going to cost me less than I thought it might. I've just asked the garage to quote for a rear wiper arm too as was going to leave that and get it at a later date but now have the funds to fix it too. Should be able to pick it up later this week complete with a new wiper.

Off to slimming world in a while- for first time in ages I've got the money this week to buy a countdown. So that will save me the payment for a week in six weeks time.

datlex

Well picked up the car today and came away with money left in my savings account. Felt really good to have it back on the road, but really strange to be behind the wheel again after not being on the road for a few months whilst I saved up to get it fixed.

The money in my account is now going to my sofa fund. Hopefully won't take too long to save up.

Be interesting to see what my wage slip is this week. I think next week should see the pay increase and the tax allowance increase kick in so a few extra pounds. Once I know how much extra, I'll know how much I can put aside into savings.

Did my online weekly grocery shop early had to spend £40 to get the £5 voucher off, so took the opportunity to stock up on herbs, some cupboard staples like pasta and rice, and toilet rolls. I have a feeling I will get another voucher next week, so will be doing the same again and stocking up on something else. Only thing I didn't buy was much fruit and veg as I know it is cheaper at Aldi's so will be dropping in there tomorrow.

Paid my credit card bill today - £24.99. Still something on it but the bill not due until after the 8th (when this one is due to be paid) and so won't be due until May I don't think. Money is already budgeted for so won't be an issue.

Still if I want to get the things I am saving for quicker I need to be slightly more disciplined with my spending. Just because it is not allocated for bills, food, debts, Christmas fund or slimming world doesn't mean have to spend it all. Need to work out how I am going to do that, whether I am going to go through my receipts or whether I am just going to start writing a shopping list.

Savings list on present day:

Sofa - £100 saved towards planned - £350
FreeSat planned £175 but might be less this is for free sat from Sky which is worst case scenario - free view isn't great around here.
Car Insurance- estimated -£350
Total need to save - £875
Deadline to save Car Insurance: November - 29 weeks at approx. £30 a week. If my pay rise is that in take home, should be just able to make it. Going to take some discipline.

Right breakfast and lunch planned for tomorrow. Fruit is already cut up ready to take to work. Just need to make the sandwiches fresh in the am whilst brekky is cooking.

datlex

Got confirmation of my new pay rate- so getting a bit extra each week. I've just taken out rental on a local garage for my car. Want it safe from the little angels..... Garage is £5.50 a week so hardly going to break the bank. Got my fruit and veg today from Aldi's. Must do a comparison with Tesco, Sainsbury and Asda on line to double check I have got the best deal overall for these. Next couple of weeks won't need to buy much in the way of food on my weekly shop, so may stock up on cleaning products and toiletries.