Balancing not just the budget

RosaBernicia

Thanks DIA and MT :A

I don't think it's sunk in yet. I am having little glimmers of realising that now all I have to do is earn more than I spend, which seems a daft thing to say but for so long I have been carrying the extra payments for tuition fees and previous debt, and it's always hung over my current situation. I do feel much more free, especially as I can now afford to move jobs if I want and earning less money is not a problem if I earn enough for what I need. It's lovely timing coming with finishing college and reconsidering whether I want to keep on with the current day job. I am going to just sit back and let things happen for a while. I've already been offered a great opportunity through my college tutor, which won't earn me any money but would be fantastic for expanding my skills and focusing on what I'd love to do in the longer term.

I am definitely intending to stick around - I will be looking to save next and this really helps me to keep on track (even now I have YNAB) . Company on the journey makes such a difference - thank you.


Rosa xx

RosaBernicia

Feeling :money:

I've just arranged the switch for my new Ha7if4x account to close the unused one and net me £100 :T (yes it would have been £25 more if I'd got round to it earlier, but never mind). I've figured out that if I pay my rent and council tax over to this account and then out from it, that should cover the income requirements etc.

Now off to look at the TSB one. I have stuck with my current bank for a very long time - they do have great customer service - but I rather like the idea of having a new one now that my situation has changed, and I can always go back to them after a while if I really don't like the new one.

Having YNAB is really helpful with this - I've been able to just add the new account, and shift payments from the old one, without any bother and still being able to see how much is in each one. Very impressed. Not sure I could be dealing with account juggling without it!


Rosa xx

kerri_gt

Massive congrats rosa so pleased for you, the world is your oyster :money::beer: well done x

ZTD

RosaBernicia wrote: »

Now off to look at the TSB one. I have stuck with my current bank for a very long time - they do have great customer service - but I rather like the idea of having a new one now that my situation has changed, and I can always go back to them after a while if I really don't like the new one.

Who are you with?

ZTD

RosaBernicia wrote: »

I don't think it's sunk in yet. I am having little glimmers of realising that now all I have to do is earn more than I spend, which seems a daft thing to say but for so long I have been carrying the extra payments for tuition fees and previous debt, and it's always hung over my current situation. I do feel much more free, especially as I can now afford to move jobs if I want and earning less money is not a problem if I earn enough for what I need.

With money you have options. That's why being out of debt feels like freedom - because essentially it is.

Well done on your achievement. :beer::T

RosaBernicia

kerri_gt wrote: »

Massive congrats rosa so pleased for you, the world is your oyster :money::beer: well done x

Thanks Kerri :A

The world does suddenly feel somehow much more available! And it's lovely - I think the last time I felt this free I was 20 and travelling :rotfl:


Rosa xx

RosaBernicia

ZTD wrote: »

With money you have options. That's why being out of debt feels like freedom - because essentially it is.

Well done on your achievement. :beer::T

Thank you Z :A

Re banks, I'm with 1st Dir3ct. They are really good with the phone service and their website is great too - everything shows up instantly and clearly, which is more than I found with some other accounts, that's why I stuck with them for so long. The regular saver is good but sadly the current account interest is pants, which is why I was thinking of piling spare money into the T5B one to use for both 5% interest and the £5/month cashback on contactless, as I easily spend that on contactless now.

I've just seen that the T5B one doesn't require any direct debits or switching to close an old one, so my plan at present is to keep the FD account for a base, send a bit over £750 to the HolyF**ks one which will pay the rent and CTax, and send at least £500 to the T5B which would be for spending through the month - fares, meals, coffees etc. Money at the end of the month can also be swopped over to the T5B as would earn nearly as much in there as in the regular saver but without the restrictions.

I am plotting to get my revenge on compound interest *


Rosa xx


* this may be the new thread title - DF with a vengeance :rotfl:

MuffinTops

Hello Rosa,
I use TSB for the same reasons you do, although I only allow myself the £100 to spend for the cash back.

It's nice to hear your freedom status is starting to sink in and I love the title thread idea. You've been such an inspiration at paying your debts down and I've loved hearing about your journey.

Don't forget to book that holiday!!! ☀️

MTxx

RosaBernicia

Am remembering why account juggling is a PITA and why I haven't tried it at the same time as debt busting! :mad:

The payment to my old account to cover the direct debit for my CTax has been reversed, for no reason that either bank can tell me, perhaps just a wrong digit. Fortunately I check my account most days so noticed and have now sent it again, hopefully in time for the dd. I also sent money to cover the Paypal payment which didn't show up yesterday but according to the phone transactions, went out on the 19th :mad: . I only got through to find out that the old account was OK by ringing the lost card line and claiming I was worried about a security issue, as the supposedly 24/7 service is actually one of those endless automated options things. Won't be missing that.

The new Holyfkks account has received my money OK, but won't let me pay it out again, because despite having confirmed my existence by phone yesterday, the website now insists it doesn't have a phone number for me. So I gave it one, and now both the web and phone service refuse to set up any payments for the next 2 days. Isn't it just as well I have sufficient money in the other account to pay my rent, then? And I now need to remember to transfer that back again in 2 days time.

I shall be sticking with FD for a while since at least when I ring them I get a human. Breathe and remember that the switch gives me £100 towards Truly DF, and the extra £10 a month from the rewards will be welcome once I've got it sorted!


Rosa xx

RosaBernicia

MuffinTops wrote: »

Hello Rosa,
I use TSB for the same reasons you do, although I only allow myself the £100 to spend for the cash back.

It's nice to hear your freedom status is starting to sink in and I love the title thread idea. You've been such an inspiration at paying your debts down and I've loved hearing about your journey.

Don't forget to book that holiday!!! ☀️

MTxx

Thanks MT - you were the inspiration for the T5B account idea!

Holiday plans are just waiting a little as yet - I was due to go away in a week or so but it looks like I'd only really get two days there, and the friend in question has cancelled before... so am thinking I will just leave it all til exams are over, and go away when I have my freedom and can do exactly as I like. I've worked out that I might just be able to pay off the car loan using April and May money, and it would be wonderful to go away knowing that's done as well as college. I'm enjoying the ideas as they pop up though!


Rosa xx