Baby steps

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need_this_2
need_this_2 Posts: 47 Forumite
in Debt free diaries
I am 34 year old single mum to an amazing 10 year old DD and I have paid most of my debt off apart from three which I am determined to clear by December 2013.

I have:

Mum £3200 :eek:
Over draft £2000
Pounds to pocket £319.20 finished in June 2013

At the moment I am paying off mum at £200 a month and nothing to my over draft I seems to never have any money left each month so I am going to start keeping a record on here of what I'm spending.

The plan is to put the over draft money into a savings account for now because until I have paid off £1700 of it I have to pay the same fees anyway. I only get £300 fee free so I thought until I have that saved I may as well earn a little interest on it.

I have been good today had a NSD and I get paid tomorrow so start of a new frugal me.
Make £10 a Day challenge June £57.86/£50, July£100.00/£200.00
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  • elantan
    elantan Posts: 21,018 Forumite
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    Do you not pay a percentage depending on how much your overdrawn ? Just wondering if its 20% or something and 20% on £1k is cheaper than 20% on £2k
  • need_this_2
    need_this_2 Posts: 47 Forumite
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    No it's a £1 a day for anything between £301 and the full £2000 I am now so am I right in thinking it would be better to put this in a savings account? Advice would be good from anyone.
    Make £10 a Day challenge June £57.86/£50, July£100.00/£200.00
  • elantan
    elantan Posts: 21,018 Forumite
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    Yep I woul stick with the savibgs account then ... Sorry didn't understand it before ... My overdraft was charged in how much I owed so assumed thi was normal practice
  • beanielou
    beanielou Posts: 90,308 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
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    Could you maybe think about opening a new bank account & starting afresh?
    Then the OD would be a creditor IYSWIM?
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • need_this_2
    need_this_2 Posts: 47 Forumite
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    Sorry for being thick but what is IYSWIM?
    Make £10 a Day challenge June £57.86/£50, July£100.00/£200.00
  • need_this_2
    need_this_2 Posts: 47 Forumite
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    I can't closed my mum needs the money so I thought of that but she's struggling herself
    Make £10 a Day challenge June £57.86/£50, July£100.00/£200.00
  • beanielou
    beanielou Posts: 90,308 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
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    Sorry, IYSWIM is if you see what I mean.
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • need_this_2
    need_this_2 Posts: 47 Forumite
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    ,thank you beanie feel a bit silly now :o
    Make £10 a Day challenge June £57.86/£50, July£100.00/£200.00
  • need_this_2
    need_this_2 Posts: 47 Forumite
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    Yayy been paid today and there was a bit extra because we had a pay rise the beginning of February and its been back dated in this pay.

    I have already paid mum her £200 as that goes out by standing order and Pounds to Pocket have taken their payment can't wait until June when that will be the last payment.

    I only need milk and bread for shopping this week as I have loads in still from last month.

    Next weekend I am going to make the effort to go to the market near closing as someone from work said the butcher lets you have loads more meat as he tries to clear all his stock before Sunday. He does the 3 trays for £10 or 7 for £20 anyway and they have lasted me ages but a little extra would be nice.

    Tonight I am having rolled lamb breast with potatoes and mixed veg and HM banana muffins as I have some bananas that are looking a bit brown and DD refuses to eat them like that but banana muffins are a whole different story.
    Make £10 a Day challenge June £57.86/£50, July£100.00/£200.00
  • beanielou
    beanielou Posts: 90,308 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
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    No need to feel silly.
    Have a good day.
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
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