Can I do it!

1stTimer

Right so been a lurker here for many years and got some brilliant tips, advice along the way but today is the day I really feel like I need to let it all out and start myself a diary / journey

Not really good at this writing business so excuse me if I make any errors along the way.

In reality I shouldn't be here, I have just turned 30 and earn a good sum of money, I have done since I was 17, I've been in my current employment for the whole 13 years and loved every second of it...
I have no children or dependants and live with my sister. I have no responsibilities and yet in May 2012 I realised i was in £21,000 debt!

I've done extremely well since my lightbulb moment and this is now down to £11,000 ( £10,000 is a car loan) and I should feel happy and proud but the truth is I miss my old life,
The one where if I liked what I see I bought it- I am a gadget girl, I live for my holidays and nights out and purchasing that new toy that everyone wants.....
Since my lightbulb moment I've sold it all... I have nothing left to thrill me and I feel really down today....
I'm doing it all for a reason - i rent at £1000 a month and would really like my own place so I could get a dog and make my own decisions etc but today I feel sad and deflated...:(
I really wish I had the ummphh I had a few weeks ago.

Sorry rant over:o

Itsadogslife_2

Yes you can do it - I think we all have times when we are sick and tired of watching pennies and thinking of all of the things we could have bought.

I like my gadgets too I find keeping a track of my spending motivates me and seeing the totals come down and having that dangling carrot quite incentivising. I keep thinking what I will spend my extra £400.00 per month on when it is all paid off........

1stTimer

Thanks for the post really appreciate it, it's soo hard giving up all the fun things but its trying to remember that in a couple of years time they'll be obsolete but a deposit for a house wont be. It's the short term vs the long term goal....

I'm debating if I should just sell the car or not, I could get £8000 for it and then get a cheap runaround for a couple of hundred, I'd the be left with the remainder of the debt but its a lot less than £10,000?

It's the last toy I have though and I do love it - I'm just not sure I can justify it anymore when I only do 4000 miles a year

I hate being an adult and having to make these decisions...

elantan

Why not keep the one toy you have left as a lesson ? You could be nearly debt free but your toy has cost you ... You should never regret that and always always enjoy it but let that spur you onto getting the new toys you want in as financially efficient way as possible,

Why not also have a savings pot for other toys like iPads etc so that you can still have these guilt free ... Find ways to make them cost neutral from your regular money ... Make it a game so that it becomes more about the game than the prize ... But the prize being a nice added bonus

Becoming debt free is a journey, you will have periods where you feel you can go at it good guns and other times you wonder why your even attempting it, work with these flows ... When you feel down slow down and treat yourself even if its something small, use a wee bit of spare money to buy yourself something nice .. Then when you feel the energy to go at it good guns do so ... It's not a race take your time

Good luck on your journey

1stTimer

It's funny this debt busting lark, it's almost like being in a relationship

Some days it's really hurts and gets to you then other days I'm on cloud nine and amazed.

So after a nights sleep I do feel a bit more optimistic, still not sure on the car business, it just seems such a waste of money recently considering I only drive it at the weekends.

On a good note I made £200 on eBay so that goes toward the remaining credit card and I'm adamant I'm not going to spend today apart from going to get some bread for my lunches.

If all goes to plan I should have cleared this card come next payday and then it's just the loan/car to think about.

I must keep reminding myself that the end game is my first house and that'll be the biggest, shiniest toy of them all :j

beanielou

Keep plodding!

1stTimer

So yesterday's no spend day didn't go as planned but in my defence I did only spend £5 and £1 of that was bread (does that count?)

Today I am adamant will be a no spend day in fact I actually have to return an item which is £35 so that's a good step

Can't help but check my bank balance about 4 times a day at the moment, I think it's become an obsession

1stTimer

Today has the potential to be a good day for me,
Not including the fact it's Friday!:j
I'm owed some money from a friend today and today is due date so if all goes to plan then I should be in the black again today too!

Got a couple of things ending on eBay tomorrow, not looking promising but you never know could have some last minute bids.

I'm also debating if I should do a boot fair this weekend, if I keep holding out for the sunny days it'll never happen but at least it looks like its not going to snow

I hope everyone has a great weekend!

Claree__x

Heyy - I'm along for the journey if you don't mind.

RE: the car, if you can sell yours for £8k you don't necessarily need to buy a runaround, just a decent wee car £2-3k that you can use at weekends and pay off the rest, it'll be a good chunk out of your debt gone.

You're doing really well anyway, keep it up

1stTimer

Thanks claree

Yes the cars a big dilemma at the moment, still debating on what I should do...

Big let down today as I didn't get the money back I lent someone it really disheartens me when that happens but part of it is down to me because if I was honest to people about the journey I'm on then one they wouldn't ask and two I wouldn't lend it but I'm around high earners all day long and feel like I need to keep up.

Maybe we all have the same financial situation but no one is admitting it..... Now that would be weird haha

1stTimer

Happy Monday everyone!

Quite an eventful weekend, finally got the money back I was owed and also did my first bootfair yesterday so can pay an extra £100 on the final credit card!

So so pleased I'm getting to the end of the cards but then it's the big battle if saving the money I earn rather than spending it.

Car tax and insurance out this month but have a car fund so hopefully shouldn't make too much of a dent.

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