The dreaded D word

System

snorfing_along wrote: »

I actually have 2 savings accounts as I was getting confused with how much was allocated for each in 1 account, so I set up a separate one for holiday saving and the annual/bills/emergency is in 1. I worked out how much I needed for each and started putting money in when I got paid a couple of months ago. It'll go up and down over the next couple of months as I take out some money for my home and car insurance and also my MOT (on Saturday :eek: ) but then I know that the money in there is too be spent on important things and the money in the holiday account is to be saved until the holiday needs to be paid for and then I'll start to save it back up again. But I do have it noted in my diary how much is allocated to each thing in the account

It does get a bit confusing through because I do have some holiday money in the bills account lol (for a different holiday and I'll put money into another joint savings account when I get paid for spending money). I actually thing it's better to have them separate and give them different names so you know what each is allocated for but it's nice to think if it as 1 large amount as for me it helps to keep me focused when I can see things happening.

I also move my petrol money into a separate account for the month so I don't spend it with my spending money.


I have no idea if the above even makes sense:rotfl:. I've had a long morning already with a 2 hour drive to work this morning due to a diversion and my brain isn't firing on all cylinders, much like my car

Hey, yeah I have mine all separate as you mentioned, I think it's best haha! was just interested really in how you manage yours but yes that's best! Wow, you even have a separate account for petrol that's interesting, okay I'm interested in that, lol tell me how you manage that..


never heard that before... sometimes ijust wonder if we separate everything, we'd have so many. but petrol sounds alright

System

snorfing_along wrote: »

I actually have 2 savings accounts as I was getting confused with how much was allocated for each in 1 account, so I set up a separate one for holiday saving and the annual/bills/emergency is in 1. I worked out how much I needed for each and started putting money in when I got paid a couple of months ago. It'll go up and down over the next couple of months as I take out some money for my home and car insurance and also my MOT (on Saturday :eek: ) but then I know that the money in there is too be spent on important things and the money in the holiday account is to be saved until the holiday needs to be paid for and then I'll start to save it back up again. But I do have it noted in my diary how much is allocated to each thing in the account

It does get a bit confusing through because I do have some holiday money in the bills account lol (for a different holiday and I'll put money into another joint savings account when I get paid for spending money). I actually thing it's better to have them separate and give them different names so you know what each is allocated for but it's nice to think if it as 1 large amount as for me it helps to keep me focused when I can see things happening.

I also move my petrol money into a separate account for the month so I don't spend it with my spending money.


I have no idea if the above even makes sense:rotfl:. I've had a long morning already with a 2 hour drive to work this morning due to a diversion and my brain isn't firing on all cylinders, much like my car

although in saying that, you could actually use a credit card for petrol and pay it off, that's a thing a lot of people do

snorfing_along

I find it too risky to spend on my credit card so I avoid it if I can in the last few weeks the vet bills have gone on the credit card and some work expenses all of which are due to be paid back from work and the insurance company but because I've used it for those things I've bought stuff on it too so I now owe an extra £140 on my card which is new debt, I think I have probably over saved my April wage so it left me a bit short in the week before May's pay day plus a bit of reckless spending on some make up that I don't need I just wanted didn't help. That's why I like to close my CC accounts as soon as they are paid off to limit temptation


With regards to the separate account for petrol I use a full tank a week which costs about £45 so my monthly petrol spend is close to £200, this is why I keep it separate from my current account and I transfer it across when I top up. If I only filled up once a month I would keep the money in my current account

System

snorfing_along wrote: »

I find it too risky to spend on my credit card so I avoid it if I can in the last few weeks the vet bills have gone on the credit card and some work expenses all of which are due to be paid back from work and the insurance company but because I've used it for those things I've bought stuff on it too so I now owe an extra £140 on my card which is new debt, I think I have probably over saved my April wage so it left me a bit short in the week before May's pay day plus a bit of reckless spending on some make up that I don't need I just wanted didn't help. That's why I like to close my CC accounts as soon as they are paid off to limit temptation


With regards to the separate account for petrol I use a full tank a week which costs about £45 so my monthly petrol spend is close to £200, this is why I keep it separate from my current account and I transfer it across when I top up. If I only filled up once a month I would keep the money in my current account

yeah I see why you do now... no my spend is nowhere near this actually... i'll stick to paying it how I do normally or with credit card, but interesting

snorfing_along

The MOT didn't go well, the car is going for repairs on Wednesday and it's going to cost £200-£300:eek:
it was expected but there was a bit of me that was hopeful that it would be ok also the mechanic is going to try figure out the cars mystery fault. Looking forward to getting the car sorted so I can sell it and get something newer that I don't have to worry about it for a few years
I've decided that the debt repayments are not going down as quickly as I hoped so I need to bring in more money - so I'm looking for a new job! polished my CV yesterday and sent it out and I've already got 2 calls lined up about the 2 jobs that I was most excited about, so far so good. Both offer a £10k a year pay rise and they're in the location I want but even if I get a job I have a 3 month notice period where I am now. It could be October before I'm in a new job.


I do wonder if my diary seems a bit of random ramble? Just reading back over my diary and it seems to jump from one thought to another

beanielou

Good news on potential jobs.

snorfing_along

So the car is sorted (touch wood) and the saving account is now £300 lighter but it's one less thing to worry about for now.
I have had a little bit of a spend this week I bought a small wardrobe for our smallest bedroom so that I have a bit more space to store things - long dresses in particular, and I also got an over the door shoe storage thing, which is great I just need to figure out how to keep it hanging on the door properly. I definitely feel happier and calmer when things at home are properly organised and away, so I'm hoping that it's another little thing to reduce the ever increasing stress levels.
As I've mentioned in my diary before my husband and I would like children but so far it's not happened so I'm being referred through for further investigation and treatment but apparently there is a 2 month wait to be seen, which seems like a really long time to wait but the ball is rolling and that's the main thing so I want to use the time to get thing organised and try to reduce my stress levels as much as possible.
Exciting news on the job front I've already got 2 possible job opportunities, I've had good initial chats with 2 companies either or which would be great to work for - not exactly stress free but positive and exciting.
I'm feeling like I'm not making too much progress with the debts at the moment but things should be back on track after we get back from holiday in July and I have my budget for June all ready to go, only 19 days till payday :rotfl:!
I also feel like I don't see debt in the same way as everyone else. I never had LBM because I always knew it was unsustainable but circumstance caused it to be created and snowball, I've never done a SOA because I've always kept on top of keeping everything on the best deals and the food budget has never been out of control and through this whole process I've never felt very deprived or gone without, I want the debt gone just so I have less money going out every month but I do wish I was paying it off faster then on the other hand I don't want to change my lift style that much


Sorry long rant again!

snorfing_along

Almost forgot to mention we have upped the mortgage payments by £200 a month so at least the mortgage will come down quick even if the credit card balances don't!

beanielou

All sounding good.

snorfing_along

Good news, I've been approved for a car loan at a great rate so after work i'm heading off to have a look at some cars. I think I know what I want but I want to have a test drive and make sure it's right for me. Do people count a car loan as debt (bad debt)? As without a car I can't get to work so needs must and I've learnt over these last few months that I need something reliable. Hopefully the test drive will go well and i'll be able to pick the car up over the weekend. Another thing off my to do list!