Looking to the future!

Lottie1974

Having read through a few inspirational diaries, I have decided to join up to money saving expert and attempt to get our own finances in order!

We have far too many years floating along with expensive debt that we make payments on time for but never seem to dent! Having kept a spending diary for a week I now realise that we need to plan and budget properly and be much more organised to get this sorted! I am hoping writing a diary will help to keep my ideas and intentions on track.

I need to learn to be realistic instead of either ignoring our finances or budgeting so tightly that we give up after a few weeks as the expectations are far far to tight! So onwards and upwards hopefully to a positive financial balance!

Mysteek

Hi Lottie1974, just noticed your new diary and wanted to wish you good luck. Having started my own diary a month or so ago, I know how difficult it is to finally admit you need to change and to make that first step. But you've done that now, so just keep looking forward.

Lottie1974

Thanks I need to focus on it instead of just letting the months pass by! I am hoping this will keep me on track! I have spend the day so far finding out the different interest rates on the cards and the interest percentages are not in the order I thought at all!:shocked:

Starting debt balance is £19873.61

Task for this evening is to set a realistic budget with my husband and plan our spending for the next month!

Lottie1974

Had a good chat with my husband last night and we got all the fixed figures sorted out. The categories that we are struggling with is how much is a reasonable amount to allow ourselves for things such as food and general spends etc as well as how much to put aside for xmas and birthdays!

So still a lot of work to be done! Looking at past statements there is no pattern to it! I tend to stock up on things on offer and freeze reduced items so some months we spend much more than others! We also pick up many non grocery items when out shopping and on the bank statements this is obviously just one amount under the stores name.

Task this morning is to type all of the interest rates and balances into a snowball calculator and see what the timescale looks like for the amount we currently pay and which order to tackle things!

Feeling positive ... its nice to get facts written down and make a plan to sort them instead of worrying without taking any action!

jwil

Good luck

Lottie1974

Thanks Jwil!

Right we have typed the figures details into the snowball calculator and we are looking at debt busting for 24 months! I am hoping that we have set a realistic budget that is perhaps on the overgenerous side as I tend to give up on things if I 'fail'!

By pre-planning the potential downfall of this, I hope we can stay on track and feel positive if we can come in under budget each month. This will hopefully bring that 24 months down bit by bit as we go along!

Having just sat and categorised each spend in June I am shocked about how much is frittered away and not essential! Off to read some other threads for ideas about a realistic grocery budget for a family of 5!
... We have a set amount for fixed bills and the amount we are going to pay off debt it is the variable choice spending that needs splitting up and sorting eg how much we put for groceries, entertainment clothes kids activities etc.

Lottie1974

Paid £50 off today feels good to make a (very small) dent in the figure! Got a good weekend planned at a family day which shouldn't cost too much! Need to dig out the cool bag to take a picnic out with us for the day. Hopefully the weather will hold out!

I always forget to take drinks with us especially when we are not eating out. The kids are then thirsty and the drinks are always expensive. Need to keep a stash hidden somewhere as if they are in the kitchen they get drunk at home! I have tried water bottles of squash but never had much luck with them not leaking everywhere so will buy whatever cartons are on offer.

Need to get on top of the house today as have a day off work and have so far spent ages online!

Aims for the afternoon:

• [STRIKE]Sort out washing[/STRIKE]
• [STRIKE]Put all of the ironing away[/STRIKE]
• Make a shopping list to stick to tomorrow
• [STRIKE]Vacuum the house[/STRIKE]
• [STRIKE]Change the sheets[/STRIKE]

... no more internet until the above is completed

Lottie1974

Been shopping today and managed to stick to the list only got picnic things for tomorrow and a few toiletries we needed. Paid another 23.61 to the debt... round numbers seem better :rotfl:!

Need to get the house in order today and sort through some of the children's outgrown things and maybe get a couple of bits on ebay. I need to work out the postage more carefully as last time I sold something it only went for 99p and I miscalculated the postage so it ended up costing me money!

Debt now £19800.

supersaver1000

Hi Lottie

Good luck, I started a diary back in Feb and it does help.

Have you thought about keeping some drinks in the freezer - maybe some Capri suns hidden under the peas, then they can go in the cool box like ice packs. You could also hide a couple under the salad in the fridge too.

I've also put some in my big saucepan, in the tea towel drawer and in the bag of carrier bags. :rotfl:

Lottie1974

Thank you supersaver1000 I hadn't thought of that I usually get capri sun as they do them on offer at the local farmfoods, We have a big freezer so if I just chuck them all in there they won't we readily drinkable! Had a good day out with the family today and stayed within budget!:j

Lottie1974

Right the new budget is set and looking good. I am feeling much more positive about our situation so the next thing to go is the cigarettes! I quit for over 3 years and then started up again a few months ago (stupid idea of thinking I could just smoke when drinking failed!). I know that I need to stop and this is as good a time as any! I did it cold turkey last time so know I can do it with will power!

Jotting a list of reasons to keep me motivated and get me through the grumpy first few days!

1. I don't want to make myself ill!
2. I hate the smell!
3. It makes me feel sick
4. I am embarrassed that I started again so easily after doing so well
5. I don't want the children to see it so I hide and hiding makes me feel like a teenager!
6. I don't want my children to breathe the chemicals (although I only smoked outside I believe the chemicals stick around)
7. Its stupidly expensive
8. I loved having clear skin and shiny white teeth!
9. I like nice perfume and theres no point if I smell of smoke
10. I want to lose weight and do more exercise and stopping helps with fitness

So as of now no more and I will keep track and be held accountable in my diary! Every time I want one I will remind myself of this list and do something productive like cleaning, putting something on ebay etc and keeping busy. If I don't fancy any of that I will do some exercise! So heres to a smoke free future!:beer: