Keeping On Track

HeavyMetalFan

Hello anyone who reads this.

I chanced upon this page by good fortune and after reading a few different diaries regarding people's different personal situations, I thought it would be a good idea to start my own.

A bit of background to my situation. Well, I was unfortunately made redundant a few years ago and after doing a lower paid job for six months just to pay the mortgage, I have had to take out a couple of loans out to get myself sorted. I am now on the road to paying these loans off and the aim is to never borrow another penny for the rest of my life.

I have two loans at the moment. One with an outstanding balance of £748 which ends in March 2015 and one with a balance of £3,840 which completes in December 2015 which is my debt free day.

I'm not looking to overpay or attempt to pay my loans sooner but to manage my disposable income better and to make it go further. Hopefully this diary will help.

My net income is £1,200 and my total outgoings are £607 with loan payments of £260 so in total £867 leaving me with £333 for food, clothing and entertainment. This should jump up to £400 come next March, not taking into account any pay rises or promotions if they should occur (fingers crossed).

I've got a big expense out of the way and paid for my season ticket for next season so one less thing to worry about and no essential large purchases on the horizon.

Right, let's see how I get on.....

HeavyMetalFan

Easy day today. Left my wallet at home by mistake so couldn't order a bacon sarnie at work or have a pint at dinner time. Not going out tonight as out on Sunday instead so just spent £5.50 on a few beers and some mouthwash.

As the amount I owe is depressing me a bit I've decided to monitor my progress in months towards freedom rather than amount of debt cleared. So this puts me on 1/12 for my smaller loan and 4/24 for the larger one.

Desperate_to_be_debt_free

Good luck to you and well done on taking the first step to debt freedom.

HeavyMetalFan

There's a home match today but it kicks off at 12:15 so no trip to the pub pre-match.

Hopefully I can avoid spending too much post match but might need to drown my sorrows.

HeavyMetalFan

I didn't spend anything pre-match or at the ground yesterday but I went out after and spent £30 on a variety of bitters which I enjoyed. The football I didn't enjoy so much :-(

I also spent £2.81(!) in Morrison's so £32.81 in total.

HeavyMetalFan

Took £20 out today and managed to come home with £1 after having seven pints.

Hopefully no spends now until Wednesday!

HeavyMetalFan

Spent £12.25 in Morrison's today which covers three days worth of tea for me and snap for work for the week.

Back to work tomorrow but as I get a lift and don't have to pay for petrol, I should be able to avoid any spending until Thursday, all being well.

HeavyMetalFan

Good day today - not spent a penny.

If only I could do that another 239 times this year.

HeavyMetalFan

Another day without spending anything which is pleasing but I felt a bit down about the situation this morning. I know my debts aren't massive and it will all be over in 19.5 months but I couldn't help thinking that without them I would be £260 per month better off. Ah well. That's life. In two weeks time I will have made 7/36 payments and in ten months I will be £68 better off. More in fact when I get my pay rise in July.

HeavyMetalFan

Another good day today. Mother came round with a curry, rice and naan bread which was a pleasant surprise when I got home from work. Quite pleased myself this week but the next two days should be expensive as I'm off to Belfast to watch the Giro d'Italia.

HeavyMetalFan

It was pay day for me on 23rd and two payments went out so that's 7/36 in total.

Budget for 23rd to 30th May is £75 and I've spent £74.51 so far as I had a big night out on Saturday. Don't need anything before Friday though so shouldn't spend anything tomorrow or Thursday.