Clear debt & save by 2020...

seasideme

So I have recently moved to the coast and have had a decrease in my wage (basically losing higher living allowance). I get my first wage at the end of the month so then I can work out a budget. I am also joining an agency to get some extra work.

My debts:

PDL 1: - 609 - £10 a month - no interest
PDL 2: - 438 - £10 a month - no interest
CC 1 - 181.13 - £30 a month (6 months left)
CC 2 - 1300 - minimum payment
Gym - 132.44 - £10 a month
Argos card - 188.37 - £30 a month (6 months left)

TOTAL = 2848.94!

I am currently studying for a degree with the OU and will be needing £110 a month from November to pay for it

From July we should have sorted out everything with the flat so can work on not spending, paying off debts and saving if at all possible.

So here goes .....

seasideme

So I have £90.23 left in my account till payday (end of month). I will however be getting my last lot of pay from my previous job, about 3 or 4 days worth next monday. Not sure if I should keep that in my bills account to then transfer to savings or transfer it to my spending account in case I need it. I only really need food till the end of the month now

seasideme

So yesterday I took £50 out and have £37 left!

I received my makaton books today so will get on it learning it for work

Still trying to sort out my ou modules for some reason I can't register for OUSBA assistance to pay my fees so will need to contact then directly.

My bank accounts:

Natwest basic - don't use

Halifax basic - bills account, wage goes in here
Halifax easy access - holiday savings

Metro basic - food shopping (from next month)

RBS current - spending
RBS savings x 4 - general / not really used
RBS ISA

I want to start using RBS saving accounts for household, emergencies, presents, deposit (ISA) etc

seasideme

So today wasn't very NSD Had a lovely walk to Shoreham airport and ended up buying a drink on the way and the way back, at least my oh bought the ales at the airport

Anyways onwards and upwards, got a lovely sausage pasta on the hob and a relaxing evening in

Historybuff

Hi seasideme - good luck with the moneysaving. Just wanted to let you know your diary is being read. It's not easy, but hang in there. theres loads of support on here. We're all in the same boat!
History

beanielou

Happy shiny new diary
Might be best to concentrate on debt rather than holiday saving at the moment.
JUst a thought.

seasideme

I know I know I shouldn't be spending money on holidays but I can't help it, everyone needs an escape and it's not like it's a round the world trip or anything.

seasideme

So I am using this new spreadsheet I found on here to help me budget and so far I'm loving it!

Capital One & Argos will be paid of this years.
Gym will be paid off next year.
Virgin cc will be paid off at beginning of 2017
PDL2 will be paid off at end on 2017
PDL1 will fall of my file with a balance of £149 in April 2018.

Only the PDLs are defaulted. Of course this means me not increasing my monthly payments at all and staying on my current wage.

seasideme

So I got paid Tuesday from my previous job and got £507! I need to leave this alone till I get my main wage on Monday as someone mentioned that the company don't pay you in full the first month?! If I don't then its straight to HR to sort it out.

seasideme

Rent/Mortgage £285.00
Council Tax £100.00
Internet £46.00
Electricity/Gas £15.00
Water £29.00
Travel £30.00
CreditExpert £13.00
Postcode Lottery £10.50
JD Williams £6.00
Mobile £40.00
TV £12.12
Gym £43.00

Total = 629.62


PDL1 £10.00
PDL2 £10.00
Argos £30.00
Gym £10.00
Virgin cc £40.00
Capital One £5.00
Total = £105.00

General Spends £200.00
Food Spends £150.00
* spends are all dependent on what my wage will be.

Complete Total = 1084.62

seasideme

So I'm going to be doing the 'tilly tally' payment thingy starting tonight, I shall put it into an empty account and when it gets to £30 I'm going to pay it to one of my debts. I'll be doing this every Sunday night.