What have I been doing for the last 10 years???

Domayne

Not much to report today, spent £5.18 on 2 Mcdonald's breakfast wraps as my colleague bought them last Friday, so no NSD but I did get 2 shiny £2 coins though!

noodledoodle78

Hi Domayne!

Just catching up and you are doing soo well. Especially with quitting smoking.

I saw you are going to Cuba. Lucky you! I got married out there and it's amazing! Where are you staying?
I can't wait to go back there, but debts to be sorted first lol.

jeanlucb

Wow! Just read the very first post from this thread and thought to myself: "This guy's like me!!!" What have I been doing for the last 10 years??!!!

Apologies in advance for the long post.

To sum the whole thing up, I'm a French guy living in the UK since 98, I have a very good job, great wages, I even have a second job, but I'm a nice guy, very generous, always splashing around and I've been in debt all my life (since being in the UK)! But never thought anything of it... Always been overdrawn, always had credit cards, always paid interest, loads of it, without blinking really.

I even sold my house in 2008, paid off all my debts, and despite having savings everywhere, was back in the red (overdrawn) within 2 months of receiving the money from the sale!!! TWO MONTHS!!! And all the money left from the sale vanished within 2 to 3 years! Un-be-lie-va-ble!

So let's say, I had a first wake-up call, around June 2012. Still with my great job but about 5K overdrawn, a few credit cards and a loan! Decided to move out from the centre of town to about 2.5 miles out, doubled the size of the house, pay £200 less in rent, and I could start saving.

Fast forward 6 months and my wife became pregnant, yay! Nothing about her impeding maternity leave and her reduced wages bothered me... I kept ending every month with nothing, or say about 50 quid short of my overdraft limit!!

Fast forward to X-Mas 2013... I finally woke up, and realised that the aim in life is not to spend everything you have because you have it! The aim, is to spend reasonably, to be debt free AND to save the maximum you can for rainy days and for a better, more comfortable life. Nobody ever told me that. Even though it's pretty obvious doh!

So here goes for the big bad debt news:
Barclaycard @ 6.9% for life: £11K
Natwest @ 0% till Feb 15: £6.4K
AA @ 6.9% for life: £4.5K
MNBA @ 0% till next month: £1.9K
MBNA @ 0% till Feb 15 (same card): £1K
Total: About £24.9K!!!

The good news is that I transferred my overdraft into the AA card, so I will not be paying interest for nothing there anymore, and I can use that money somewhere else. I know you're all going to berate me here for using 6.9% cards instead of 0%, but I much prefer those to the 0% ones as they are a false security.

The other good news is that my take home wages are: £2,760 after tax

So if I take all the outgoings out:
Rent: £870
Joint Account: £200
Mobile phone: £15
Car Insurance: £28
Bank account charges: £15
Gym: £31
Naked Wines: £10
Ocado Smart Pass: £6
Sky Mobile: £5
Credit Expert: £10

And my debts repayments:
Barclaycard: £300
Natwest: £64 (I know, should be higher)
MBNA: £35 (I know, should be higher)
AA: £45 (I know, should be higher)

I have £1,125 or there about to play with. Maybe buy £125 petrol max...

ONE THOUSAND quids left every month!!!

What have I been doing in the last 10 years!!?? All I had I squandered, and all I did not have I spent, and what is left? Nothing.

So here I was on NYE, contemplating a miserable 2014, and I made one decision for January and hopefully the rest of the year, and years to come. Historically January is bad, as you're getting paid on X-Mas eve, and you have one week in December plus 31 days in January to survive. I was quite good with my end of December pay check received on X-Mas eve, and maybe had spent £200 of it when I reached NYE.

The decision I made on NYE and which I should have made 10 years ago was: After all my outgoings have gone this month, I want to have at least £1,000 left in my account!
Now, we are the 18th of the month, and I have £1,057 left in my account. This is a long month, but I'll do it. Now that we have a baby, we don't go out anymore, so the expenses are cut to a minimum.

Once the month is over and I have the next pay check in my account, I'll pay that £1K to my MBNA credit card, all of it. Same in February, hopefully I'll have £1K left at the end and pay off that one.

Gosh, I wish I had realised that earlier. Cause at the beginning of March, my wife's wages go from 85% of her wages to statutory pay! Which means a £900 cut! Which means I need to contribute at least £250 more to the joint account!

So this month, I cancelled my gym, and Naked Wines, earning myself a further £41 pcm and was going to cancel Credit Expert, just when I found someone had applied for a £200 pay day loan in my name but just got my DOB wrong! My Identity had been stolen, So I'll keep that subscription going for a bit.

So by March, I should have about £700 left at the end of each month (instead of £1K) to pay off debts. Until September, when we have to pay nursery!! But then by then my wife should be back at work (part time mind you).

I also own some wine and rare books that I'm trying to sell to pay everything off faster.

Voilà! I shall keep you all posted on my targets and debt repayment from now on.

Domayne

Hi Noodle! :hello:
Thanks hun! I don't feel like I'm doing all that well tbh...I'm doing good with the smoking, but everything else is a complete failure. I still haven't done anything about my weight, still stalking my ex on fb ...I'm trying to look on the bright side though that at least I'm doing ok with one thing, despite a little blip and we are only 1 month into the year and I have 11 left to fix up
I'm not sure where we are going in Cuba yet tbh, I've never been there before (although the friend I'm going with has) and we said we would book some time in May/June (gives me time to be debt free and SAVE for a ticket ) but every time we have gone away before has been really last minute, so I'm hoping this time can be more organised lol, What part did you get married in?

Hi Jeanluc! Thanks for sharing your story and well done on having your LBM! It is scary how quickly the years go by isn't it?? - especially when you've done nothing worth note lol.
It sounds like you have done something in the last 10 years though - buying a house, wife, baby - They are still accomplishments!
My LBM's have come so many times throughout the years as well...spend, pay them off, spend, pay them back off...and keep repeating the process! This time though - I really do think I will stay out of debt!!
I don't know why it feels different this time around...I cut up my last card after it was finished paying off and I plan to do the same with this card - remove the temptation
Then I am going to up my standing order into my ISA and the money I spend now to the CC I will save and I won't even really be missing anything! Plus I joined a lot of challenges on these boards which are keeping me in focus and I give myself 'pocket money' and allow a monthly treat - Like this month I bought the sims pets expansion and last month a bottle of Jimmy Choo
I'm eyeing the sims supernatural expansion for feb...lol
It sounds quite sad, but it gives me something to look forward too and makes me not feel deprived...
Keep us updated on your progress! I look forward to seeing how you get on!!

P.S - I know my name is quite masculine, but I'm a girl

Had a NSW this weekend! 11/20
Not sure if I will make the whole 20/20
It was a bit of a boring weekend - Lots of sims, Lots of movies and lots of lazing about with the pup...well, I was lazing about, he had too much energy and wanted to play all day and night!!
Now he's got into this habit that he won't eat his food unless you make it a game and throw the food so he can go and catch it.
He's also started barking - ALOT at any little noise he hears or if you don't look at him he will bark and whine and do this weird wolf howl, It's quite cute and funny coming from a tiny little shih-tzu but it's not something I want to encourage...Not sure how to get him to stop though :cool:

debtfreewannabe321

Hi Domayne, Don't be hard on yourself my husband has been quitting the fags since 1997 (when we first met!) it's a real pet hate of mine as it seems to upset my asthma whenever i'm around anyone who's just had a fag or is smoking in front of me. As well as that he realises it's bad for his health and he doesn't like the smell either but he still smokes guess it's just one of those things!

Jeanluc, good luck with the debt busting, my debt wasn't quite as high as yours (around £17-18k if i remember rightly) but our income is lower than yours. Once you whittle down all your needs from wants it's amazing how much money should be left I wish you luck in your journey! xx

in_need_of_direction

Hi. I've just stumbled across your diary and have read from start to finish. I think you're being incredibly hard on yourself. Yes, you got into debt which is never good. However, you did it at a time in your life where it disadvantaged no one but yourself and now you're getting out of it. You're also doing it within your own self determined standards - saving for your niece, unwilling to further diminish your self confidence by cutting out laser. Go you! I'm subscribing and can't wait to see what else you'll achieve once you get shot of the credit cards! Just one suggestion yo ponder, you said your job was boring and you don't have many formal qualifications. Have you considered distance learning or home study that you could chip away at while at work? It made all the difference to me.

Domayne

Hi DFW! :hello:
Like your hubby, I've also been trying to quit the cigs for years...probably as far back as 2008/09 as well, but of all the habits I've had, it really is the hardest to quit I wish I'd never started!! I hate the smell of it so much! Now I haven't smoked for a while, when someone else has one and then comes and stands next to me, I can barely breathe through the stench!! haha
Then I feel guilty for the years I spent puffing smoke in peoples faces.
I can think of a million reasons to quit - Only one reason not too, and that is that I genuinely enjoy smoking
Right now though, I'm really scared about this lump on my neck. It's been here since Sept (I have an appointment with the Dr for next Monday) When I swallow, I can feel something in my throat and the left side of my neck feels a little hard. It's not painful or anything but it does feel weird So that's making me not want to really smoke, and if it IS something...well I have no-one to blame but myself!

Hi INOD! :hello:
Thank you for reading my diary and subscribing :heart2:
I have thought about going back to college or doing an OU course tbh..The main problem being that I don't really know what I want to do (My name could have been In Need Of Direction as well ) and working in security for so long...I admit has made me VERY lazy! I also keep thinking that...ok, my job is boring and I don't really DO anything, but my life is pretty chilled and laid back, I don't really have to answer to anybody, I get paid really well for doing nothing, I don't have to interact with people if I don't want too (and 95% of the time I don't) and then what if I start a course and get bored of it? that would be a huge waste of a few more k
I always keep thinking 'what if' which has kept me from doing anything adventurous over the years but I WILL do something...maybe...one day lol :cool:
Right now though, My main focus is paying this debt off, losing weight, staying off the cigs...I also mentioned a few pages back that maybe when I am debt free, I'd start saving for a mortgage...but now I'm wondering do I really want to do that? It will be at least 5-6 years before I save a big enough deposit, then another how many years bashing away at the mortgage to pay it off...I really don't know what I want to do long term
One of my best friends moved to Milton Keynes at the beginning of this month for work and my sister also lives there, so I'm thinking of moving there in the next 2-3 years...or maybe just take my backpack and explore the world and be free? I have no idea yet....but I'm 30 in 9 months so I think I better start figuring it out as time is running away....fast! :eek:

debtfreewannabe321

I'm 35 next month and we're saving like mad for a deposit to buy next year....we'll see if this materialises or not...watch this space If I were not married and without kids I would most probably save up for a round the world backpacking trip but I expect most 30 something married with kids women say this too :rotfl:

Domayne

lol, the grass always looks greener doesn't it?
I know once I am debt free, I will continue here in my diary but it will be more focused on savings (if I'm allowed to stay on here when I have no debt?) I don't want to start a new diary...I'm getting quite attached to this one!
I suppose it will just be nice to be in the green for once and have that security fund in there...and knowing that if I wanted to move to mk, I could survive for a year or so while I find a new job, or if I want to jet off around the world, I can do that too...
It's just having options...right now, I feel like I have none!

noodledoodle78

Hi Domayne

Don't be too hard on yourself! I've been trying to quit for the last I don't know how many years. I can do it and can go for weeks without it causing me a second thought, but like you I enjoy it. And I've also discovered the e-cig... My oh has one and I can happily lie on the settee puffing away on it as it doesn't smell and I would never ever have smoked in the house before
We got married near Guardalavaca at Paradisus Rio de Oro. If you look it up on tripadvisor you'll find all the info there.
Very jealous of you, it's such a fab country to go to xxx