It's so simple in theory!

Trishiapp

Scritti wrote: »

I actually think "just in case" is a good way to think in regards to becoming debt-free or saving.

Good morning Scritti.

Thank you so much for taking your time and providing me with such a wonderful and comprehensive answer.


I think it's clear that I still have a way to go to before I become money savvy, but with all the support and advice I receive on here, I have no doubt I will get there!


Whilst I am very lucky that my family would help me out, should the emergency arise, I think it would be wise of me to start building my emergency money pot. I could always set-up a standing order into a saving account so that way I am saving automatically each month?


The question is, do I start now ( while paying off my debts) or should I wait to clear them first? Also, I need to figure out realistic amount, since paying off my debts is my priority at the moment and I wouldn't want to reduce the amount of money I chuck at them. Hmmm, I shall ponder this today...


As planned, I didn't spend any money yesterday. I've had lovely lunch with my friends and enjoyed their company enormously ( we laughed for hours )


Last night my son came to me looking very sheepish. It transpired, he snapped his dental retainers! Since these things do happen, I wasn't angry with him, but did wonder how much a replacement will cost me!
In any event, after little brainstorming, I have managed to glue them together ( boy was it difficult to align them properly) and so far ( fingers crossed) my glueing skills are working. Let's hope he won't snap them again! Big saving there


Thanks to my lovely friend doing my shopping last week, I won't spend any money today! In fact, I see no reason why I should be spending any money at all this week. Let's see how I go...


I anticipate a good day today- my dear mother called me last night and asked me to visit her to pick up some gluten free cakes she's baked for me ( nom, nom, nom.) I'm really looking forward to coffee and carrot cake


Right, I better get on with my morning...


I wish you all a wonderful day!

Trishiapp

Bedsit_Bob wrote: »

I don't concern myself with dates on cans, jars etc.

Cans and jars will keep for a great many years.

In my younger days, I used army surplus Ration Packs, which had been packed 25 and more years, prior to my using them.

Even the bars of chocolate were OK to eat. All they showed, for their extended storage, was a bit of marbling.

I absolutely Love your attitude to food!


I, too, don't care much for dates on cans. Sadly, I know a lot of people 'obsessed' with eating food within the recommended sell-by-date. If something is beyond it (even by hours) they throw it out


I just had genius idea!


I shall ask my family and friends to donate anything they won't use because it's 'out of date.' Empty cupboards for them, free food for moi!

Trishiapp

Quick update...

I have spoken to a few people about donating their unwanted 'out of date' supplies and so far three people agreed! They will rummage around and will even drop it off for me


One of my friends asked me, (in a very concerned voice) if I'm in financial trouble? I have explained my plan to her and reassured her that, indeed, I can afford food, but would rather 'recycle' food that's not being used by them.


Strangely I didn't feel embarrassed by asking them and am really happy they agreed to it!


I shall offer them cakes and coffee as a thank you

Scritti

Hi Trishiapp.

In regards to an emergency fund vs paying off debt, the general advice is to pay off any debt first that you are paying interest on.

Hence I have the emergency fund as my only remaining debt is the 0% credit card.

I COULD just massively overpay the card BUT the card is only 0% for the balance transfer NOT any spending I do on it.

So it's best to have the emergency fund as obviously I don't have to pay any interest if I have reason to use it. I'm still overpaying the 0% card (currently paying double the monthly minimum) so am still making headway with it and will be able to pay it off in full from the emergency fund once the 0% period ends in September.

I'd get that OD paid off first then, when you've only got the 0% card left to pay, start your emergency fund then - but definitely pay more than the minimum payments on the card so you can be totally debt-free as soon as possible.

Scritti

Bedsit_Bob wrote: »

I don't concern myself with dates on cans, jars etc.

Cans and jars will keep for a great many years.

I'm not hugely bothered either. It just makes sense to me to eat the older stuff first as it only takes a few minutes to put the newer cans at the back and move things about. They may keep for years but I'd still rather eat something that was put in there 6 months ago than 6 years.

You ate chocolate that was 25 years old?? Wow! I'm not sure if that's admirable or insanity but I bow my head to you regardless sir!

Trishiapp

Scritti wrote: »

Hi Trishiapp.

In regards to an emergency fund vs paying off debt, the general advice is to pay off any debt first that you are paying interest on.

Hence I have the emergency fund as my only remaining debt is the 0% credit card.

I COULD just massively overpay the card BUT the card is only 0% for the balance transfer NOT any spending I do on it.

So it's best to have the emergency fund as obviously I don't have to pay any interest if I have reason to use it. I'm still overpaying the 0% card (currently paying double the monthly minimum) so am still making headway with it and will be able to pay it off in full from the emergency fund once the 0% period ends in September.

I'd get that OD paid off first then, when you've only got the 0% card left to pay, start your emergency fund then - but definitely pay more than the minimum payments on the card so you can be totally debt-free as soon as possible.

Thank you for that Scritti.


Yes, the plan is to pay off my o/d ( £1500) first, followed by my flexi loan ( £500 and interest charged) and then my 0% £800 c/c.


I think you have a very good plan in place regarding paying off your credit card with your emergency fund. I might just pinch your idea!


Earlier I visited my mum, and apart from gifting me home baked cakes, she allowed me to rummage through her cupboards and freezer for things she didn't use.
I came away with two large bags full of food!! In return, I offered to tidy up her garden.


I'm yet to receive donations from my lovely friends ( this feels like Christmas!) I suspect our menu is going to be rather interesting, but I don't mind being creative-especially as it's free!


This evening I must re-assess my supplies and create a meal plan for the week ahead. I've noticed some very sad looking apples earlier, which should be perfect for an apple crumble.


Despite my intentions to not spend any money this week, I may have to put some diesel in my car, since the fuel meter thing reads 24 miles till empty
Hmmm, I do wonder how accurate this fuel thing is? Can I risk it for another 24miles?

[Deleted User]

Trishiapp wrote: »

Can I risk it for another 24miles?

If it were a petrol car, I'd say stick 5L, in a can, in the boot, and go for it.

However, as it's a diesel, my advice is, don't risk it.

Skinnylatte

That's so cool of you getting free food, I don't think I'd dare ask lol

Trishiapp

Skinnylatte wrote: »

That's so cool of you getting free food, I don't think I'd dare ask lol

Good morning Skinnylatte.


You don't ask, you don't get!


Last night one of my friends brought their hamper round. She donated: 3x tinned tomatoes, 1x baked beans, 1huge packet of white chocolate angel delight, 2x large tins of sardines, jar of home-made cherry jam, fruit cocktail x 2, rice pudding x1, 2 jars of Indian cooking sauces and pots of herbs and spices- all of it out of date.


Excellent!


Now I have to wait for other people's donations...


Earlier I've checked my account and I'm still bang on schedule money wise. I feel a little impatient and want the end of the financial month ( the 25th) to arrive already! I suppose this is only a natural reaction to my efforts! I. Want. To. See. Those. Debts. Reduced!


On a different note, I'm finding that the urge to buy stuff has diminished completely ( I'm not even tempted to browse the internet.)


There really is life after money


I wish you all a wonderful day!

Trishiapp

Bedsit_Bob wrote: »

If it were a petrol car, I'd say stick 5L, in a can, in the boot, and go for it.

However, as it's a diesel, my advice is, don't risk it.

Thank you for your advice. I shall put £10 worth of diesel. I realise this is very small amount but, apart from school run, I am not intending to drive anywhere else. Also, as I'm still off work, I walk everywhere. Oh, how I wish didn't have to drive for work!