NSK; "The Janus Illusion".

beckyboo1980_2

mooomin wrote: »

I don't have debt at the moment (and am very lucky to be in this position) but when I did I always used to keep a small savings post just in case. I could use it to pay off a card if the 0% was due to run out, but some emergencies can't be covered with a credit card - repairs to the house for example if you're getting a tradesman in.

I used to pay off the smallest cards first as motivation too - the Payment A Day thread was a miracle for me, and I still save based on that principle too.

What a fab idea to have an emergency fund to make a cc payment if 0% is just about to run out or simply don't have the money that moth to make the minimum payment. Have found myself in this situation many times and have ended up moving money from a credit card to my current account to then make. Minimum payment to another credit card:(
This is definitely something I am going to look at today! Thank you - fab advice!
Beckyboo
Xxx

mooomin

beckyboo1980 wrote: »

This is definitely something I am going to look at today! Thank you - fab advice!

I think the key to debt-busting is to do what works for you - for me it was psychologically better to be able to dip in to savings than to see the balance on a card I was trying to clear go up. It sets you up in good savings habits for when you're debt-free as well as you're in the habit of saving for things/building your reserves.

Good luck!

speakingofart

Not a very successful first few days! Numbers below:

SFD 1/20
Food Budget £20.85/ £150
Petrol £0/ £60
Downshift brands 0/5 (haven't needed to buy anything branded yet)
Outings 0/0
Food bank £0/£3
Fitness 1/ 12
Beauty spends - none budgeted
Chocolate free days: 0/31 (GAH! Why are people still bringing it in to work? Must do better with this next week before I go on holiday!)

Hopefully this weekend should redress the balance at least in part as I'll be stuck inside writing an essay that's due next week, so cheap at least!

mooomin

speakingofart wrote: »

Chocolate free days: 0/31 (GAH! Why are people still bringing it in to work? Must do better with this next week before I go on holiday!)

I'm not even trying this part of the challenge I know where my failure points are I'm back doing WW again anyway, so any treats I have are budgeted for.

catriona79

Is it too late to join now NSK? Hope not, as I need to kick my butt into action, I will be finishing in my job at the end of March and need to save save save until then! Xx

clippy_girl

speakingofart wrote: »

GAH! Why are people still bringing it in to work?

so they dont have to eat it and put on weight! my work is exactly like this and people have brought choc and cake in to share everyday for that reason!!

thriftylass

beckyboo, wow, what an incredible life story. Hope your OH is now fully cleared and you can relax a bit and enjoy life despite debt busting.

Today WILL be another SFD as well as tomorrow. Actually aim to have SFDs till next Friday when I'll need milk, fruit and bread. After borrowing this money I'm sure OH will have to understand that we'll now have skrimp to make things last.

lindsaygalaxy

Morning everyone

Yesterday was a spend day as had a friends birthday meal to go to but it was planned for. The only thing that really annoyed me is one person there insisted on us spliiting the bill. So apart from 2 of us everyone else had alcohol, 3 courses etc so they were all happy to, but even though we spoke us we were shot down and as it was a birthday meal I didnt want to argue. It sadly meant though it eneded up costing more than I had planned for

PurpleJay - do you mind me asking what bank you use that does this? I get very confused with mine.

KittyBoo - if it were me I would pay it off the one with the lowest amount but that is because I get spurred on by seeing the amounts get close to ending and not feeling too far to an end in sight.

EyesWideOpen

beckyboo1980 wrote: »

I do often wonder how she is growing up so sensible and level-headed with such a good work ethic myself!!! To be really honest she has seen her dad and I go through quite a lot in her short 15 years. I had her when I was only just 17 and her dad was 21. I was at college and her dad in his final year at uni. Her dad stuck by me and we both finished our courses. When she was a month old, we found out her dad had cancer which he then battled for a year. Although she is too young to remember this, this year put us in a lot of financial hardship which stayed with us for many years as our families wee not in a financial position to help us. After a year he briefly went into remission and we moved to Cardiff so that I could start uni while OH worked. However, after 6 weeks of being there we found out his cancer had come back and he was ill for another few months, putting us in yet more debt. He then went into remission and we worked hard while I finished uni. He worked full time and accepted any overtime he could get while I went to uni and worked nights at Asda. By the end of uni she was 4 and I suppose seeing her dad and I working a lot. We then moved back to devon to be closer to my family and I suppose this is really where her strong work ethic has been instilled in her. We came back with huge debts and over the last 10 years she has seen her dad and I turn our hands to anything and everything we needed to to earn. He is a graphic designer and I am one a teacher, but alongside those jobs she has seen us always have second jobs alongside as well. She has never been spoilt with material things as we simply couldn't afford them, but I have always taught her to save for things she wanted with her birthday/Christmas money, often saying that if she saves half, I will save the other half. I suppose the key has been that she has always seen that if she wants something she has to work hard for it. Earning her own money from a job when she was 13 (washing neighbours cars and doing odd jobs for them) has given her a sense of what her money is worth and what she can get for her money. Like I said before, she is a bargain queen and really shops around for things she wants at the best price.
She does have an amazing work ethic, which I am soooooooooo proud of, and I just hope her younger sister and 2 brothers grow up with the same!
Really sorry - that turned into a really long post - your question just got me thinking!!!!
Beckyboo
Xxxx

Wow, what a tough start to adulthood and family life you have had. I'm guessing you and your Dh weren't eligible to much help (benefits) given that you were students at the time of his illness? If that was the case I'm saddened by such a state of affairs that lands young people in debt as a result of illness just because they are young (e.g. Students and not working). It does sound like whatever the unfairness you have handled it very well indeed. Is your Dh now completely well?

I grew up with a mother who was very ill and a father who drank whatever money we had (cliche - violins please ) so I started working from the age of 12 doing paper rounds (older brother secured the jobs, we were working as a team, sharing the cash). Anyway, it gave me a good work ethic and though I'm now in debt I think I have a fairly good attitude to money (though I've been a bit stupid at times, obviously). I am worried that, once the debt is cleared and we're better off, my daughters will have it too easy and so will have a lesser work ethic and drive as their too comfortable - if you see what I mean? I like the idea of making them save for half of whatever they want, I'm going to use that

rosiecheeksblossom

Morning all.
Beckyboo - Have just caught up on the thread and have just read your post. It brought a lump to my throat, You and your family are big twinkling stars and I wish you a lots of good health and happiness.


Well yesterday was car service, cost me £39.95 so not too bad..... I really should of gone shopping too but my nights had caught up with me and felt like a limp lettuce. So PJ day it was. Gawd knows what the bloke thought who picked up the car and brought it back....
Off out today, to a friends whos birthday it is tomorrow. I think we are going into Manchester as he wants a new phone as his contract has run out. Oooh but I could use some xmas vouchers = no spends!!! We may go the movies after, but it has to be 3D ,although he has just bought a new 3d HD tv £1149 and a new 3d hd blue ray dvd player £200 something so we may stay in and watch a DVD that he might get for his birthday. Im still in shock that he spent this kind of money on a tv although the £8000 one in the shop looked amazing!!!
TTFN xxx