DMP & Mutual Support Thread - Part 10

Sazzie23

kb_soma wrote: »

One day, that could be us... But I think we are way more sensible than that and will be waiting for things to drop to a fiver...

I think once the debt is cleared, I'll be super frugal. (I hope).

On the same sort of theme I realised this week that even when I am debt free (2018 ish) it will still be another 12 months of frugalism before I can build up that elusive emergency fund of 3 months wages, (as recommended by Martin):money: never mind the luxury of 6 months, to try to make this a bit more positive I am trying to use it as more motivation to get to that DFD sooner:D

Also on a positive note, 18 months ago I wouldn't have ever been able to build up that emergency fund - so it's not all bad.

wannabedebtfree2016

Time_to_face_the_music wrote: »

I used to think nothing of spending a couple of hundred pounds on clothes in one day in the past, since my deft free journey started I discovered the wonder of charity shops .... especially in up market locations

Oh the button has fell off my Karen Millen cardigan, I can't be bothered sewing that on, so I will drop it off at the charity shop ... haha it's all mine now. Oh that Per Una skirt does not fit and I can't be bothered taking it back .... that's mine too. I can't believe how much brand new and good as new stuff I have bought for just a couple of pounds. This is one habit I will definitely be taking forward into my debt free life, it's just too good and satisfying to stop

TTFTM x

I have had loads of lovely things from charity shops over the years. The best thing about it is, you buy something, it goes to a good cause, once your fed up with it, you give it back and it makes more money. I buy books and allsorts. Plus, if you have the know how you can quite often find collectables and make money on them. I know someone who buys dirt cheap coffee tables and then replenishes them.

Amazing!

wannabedebtfree2016

Bagley1980 wrote: »

Well done to everyone in there varying stages of DMP. My new account is nearing completion and my first payment will be 1st October. Feels weird having actual money in my account! I went to pay my token £1 on my loan today (Lloyds) I tried to do it as an extra payment but wouldn't let me. I can't find a sort code or account number that seems to work. Does anyone one have these details? Thanks in advance.

Hey Bagley,
I am assuming by the fact your making token payments that your loan account is already in collections. If this is the case then I believe you need to send money to

Sortcode 300000
Account Number 00310476
Reference it as your loan account number.

This should do the trick. If your account is not in collections you need to ring the personal loan service centre to ask them for their sortcode and account number and again reference it as your loan account number.

Alternativley you can just send the cheque to your local branch and as them to forward it on in their internal mailing system but this could take a few days.

So long as they haven't changed their numbers since the seperation of the two banks their loan service centre number I think is 0800 096 1282.

Hope this helps.

Wannabe

Growurown

Evening DMPers:wave:

Well finally got OH to call his creditors and he authorised them to speak to me because basically when it comes to our finances he doesn't know which way is up.:rotfl:

Tackled the hellish Halifax first. Turns out that our payments through Step Change way exceeded the minimum monthly payment due on the CC. So they have refused to implement the DMP with us again saying that as we were able to pay double the minimum payment required we weren't in financial hardship. Currently they reckon on a balance of just over £2,500 the minimum payment each month is £45 and we were paying £90 through Step Change. They would however implement the plan if we paid less than the minimum. I don't really want to do this either because at that rate we will be paying forever and we will still be paying interest albeit at a reduced rate.

So currently my thinking is to throw everything at the Halifax and get it paid off asap. With the money I was already paying them and the money freed up by the Nat West loan finishing, I reckon I can clear the balance in 8 payments.

Funny thing though, the balance on my Halifax CC is now £290 but they were happy to keep that account in the DMP. Even offered me a F&F payment of £260. I'm still thinking about that one;)

Kate_fixing_it

Karen777 wrote: »

Ha I think we all need sensible hats. I certainly do... - I just had to go into town which is something I try not to do as the temptation to spend money is very large especially on days when I'm not feeling quite the full ticket. Managed to get everything done and only bought one small thing (£2.50 greeting card because it made me smile and I want to send it to a friend) that I shouldn't have done which I now have to go and juggle with the gods of YNAB... I got a birthday gift that I needed within budget so not all bad. But mostly I was looking at people wondering how on earth they manage to buy so much stuff though. I don't have £25 quid for a top (in the sale!!??) or £40 for shoes and everywhere I looked there are people with bulging bags of shopping. Made me feel like I was an alien from a different planet. I am lucky that I earn enough to get myself out of the mess I have got myself into but seriously where do people get the money from to go shopping so much??

I think it's worth remembering that these heavily weighed down people probably DON'T have the money. Or perhaps they've been saving for a while or just maybe it's all charity shop finds in different bags. My point is that you just don't know.

I was one of them last week - twice. I was buying school stuff for my teens (all in cash ) and but I knew before we left home that I could afford £50 per teen. I also had a purse full of coupons and my O2 priority moments app to hand. My one indulgence was £6 on a McDonald's for 4 (coupons again) on the Saturday and a BOGOF latte for DD1 and I on Monday. This was my first "spree" since my LBM, it was planned and carefully executed (actually had change at the end of it )

People shopping are a bit like sheep. We see the crowds carrying their piles of bags and don't realise that for some (like me) it's possibly the only time they've done that this year - the herd will be made up of different sheep next time. We just see the herd doing one thing and that we're different.

I can honestly say it felt fantastic to come home and not stress about how I am going to juggle finances to cover what I've spent.

I overheard a conversation at work yesterday about an "I want" item. One person's solution was "put it on a credit card and pay it off slowly". I had to restrain myself from physically shaking some sense into him and yelling "CC are not installment plans" especially when it was a luxury version of the item costing several times what a basic one would cost. What surprised me was that several people agreed this was a good plan!

We're not aliens at all. In 2, 5 or 10 years we'll be debt free and goodness knows what situation these "sheep" will be in - possibly where we are now. After all I was one of them 2, 5 and 10 years ago. I may not have this season's must have wardrobe on my back but I have (limited) financial freedom and everything I NEED.

Try to build a treat or two into your budget. This is a marathon, not a sprint. You'd be surprised how good a £5 splurge can feel without the shopper's remorse looming especially if it's coupled with a non-spendy treat and the (sort of) smug feeling of paying with your own money.

Kate x

kb_soma

I agree with the £5 splurge. I wouldn't have thought anything of it just last year even. Now it has become a real treat.

An inspirational post. Xxx

Suseka

A brief update....

Am waiting patiently (not) for my next Noddle report to see if Wescot have put a default marker on my file against my Halifax account. Have written to Barclaycard challenging their reinstatement of interest on OH's two CC accounts and depending on the outcome will escalate that to the FOS.

My sister is making a slow recovery after her surgery - unfortunately she contracted pneumonia shortly afterwards and then had to have a small procedure carried out to alleviate a minor complication. Yesterday is the first time I received more positive news from my BIL and so I now hope she has turned a corner and will be home in a few weeks time.

My back has been giving me quite a bit of jip lately - a recurring problem, but I'm now wondering if I have a touch of sciatica (pain from buttock area down through to the calf) - sigh!

Looking forward to the weekend so I can relax and get back to a bit of beading.. I have so many projects / designs I want to make and need to sell a few pieces so I can buy the beads to make them.

I plan to set up an Etsy shop at some point and when I am debt free and can buy all the beads I need I'm hoping it might turn into a nice little business. That's what keeps me focussed at the moment.

Have a good day all

Suseka

Kate_fixing_it wrote: »

...

I can honestly say it felt fantastic to come home and not stress about how I am going to juggle finances to cover what I've spent..

Kate x

:T

It's a great feeling isn't it One thing this DMP has taught me over the last year is just how much 'stuff' I bought that I didn't need at all. It was the dreaded 'want' I'm afraid and since the start I have properly sorted through my wardrobe and either sold, or given to charity, a whole bunch of stuff (some still with their tags on ).

I've found it incredibly liberating to be able to go into town, have a bimble and a latte, and then come home with nothing more than I left with. Sometimes I sit and just watch all the shoppers rush by with the bags full and, whereby at the beginning of my DMP felt sorry for myself, I no longer care. In fact I get so much more satisfaction sticking to my planned (small) spending budget and i no longer feel the need to validate my life with material things.

Just wish I had learnt that lesson years ago.

sunnyskies2

Hi all

Glad things are now more positive for your sister suseka best wishes that she now has a speedy recovery...sorry to hear about your back from seeing OH in pain with sciatica I know how debilitating it can be...happy beading which hopefully works as a distraction for you


charity shops...I nearly always buy second hand - it was part of the scene I was into when I was young (30 + years ago):eek: and I havn't really stopped, lots of times I get complemented on an outfit and I just can't resist saying - thank you - it was only a couple of pounds .. Ebay, boots ales, charity shops - all good:) and quite a lot of quality labels too. impulse buying..that was me (and a little bit still is - I'm learning) it is hard to change a life time of habits overnight, that's why this thread is so good because we understand where each other are coming from, but more importantly where we are going:) as Kate always so eloquently puts it:). Whilst away I picked up a top in a charity shop to buy, but kept looking around kept checking out top deliberating and eventually made the right decision that it wasn't really for me...before I would have just bought because I liked it, at that moment, not thinking realistically about when/how I'd wear it - hopefully this makes sense to you! So I still am making some impulse buys but so so many fewer than I used to. And I will get better because the feeling of being in control of a considered purchase/non purchase is actually gives me more of a 'buzz' than an impulse buy...I just need to get OH to start feeling the same;).

On another note having accepted the new job, I have negotiated a better salary - so quite excited that we will be able to put more away (idea is to build a fund to then go self managed)....just hope I don't fall asleep in my dinner at night :rotfl:

Sarah x

fermi

If anyone has experience on getting Lloyds interest/charges stopped and maybe refunded, would be appreciated here I think.

---> Lloyds TSB - Interest