* Breaking The Habit.... Hopefully.

edited 29 July 2014 at 10:16PM in Debt Free Diaries
145 replies 9.4K views
stewbystewby Forumite
1.2K Posts
Debt-free and Proud!
edited 29 July 2014 at 10:16PM in Debt Free Diaries
I decided that with the new positive mindset, I should have a new diary and get rid of all those old negative posts. This diary will officially be starting on the 1st August 2014 but I was a bit excited.
:o

I currently have one credit card: £3716.51 (yep, starting off on a negative but wait... here comes the positive bit)
;)

Goal One:
Get rid of the credit card.
Expected date of achievement: 12th December 2014.

*I plan to achieve this by paying off £400 - £500 a month... more if I can spare it. This comes from my main account.
* I also have a secret savings pot which I am putting £100 a month into. The plan is to use this to pay a chunk off the credit card in November. The £100 for this is coming from my budget account. Anything spare in the budget account will also go into this hidden pot.
My hope is that in November, I will have about £600 hidden away and I can just hand it over to pay the last bit of the credit card off. (along with the last £500 obviously).
:)

Goal Two:
Lose 36lbs.
Expected date of achievement: 12th December 2014.

* I want to lose a lot of weight (72lbs in total) but have decided to be sensible in my goal setting. 72lbs sounds like a mountain of a challenge but 36lbs doesn't sound so daunting.
* I plan to do this by using the "myfitnesspal" app to monitor my eating habits.
* Certain diets don't really work for me due to work (mixture of nights, days and 12 hour shifts) so my plan is to have a calorie controlled approach.
* I am hoping to lose an average of 2lbs a week.

Goal Three:
Build up savings.

* I have several savings pots on the go and plan to keep these going over the next few months.

* Pot One - Xmas Fund: My OH and I both pay £1 a day into this pot and it is so we have enough money to pay for xmas without having to resort to credit cards.
* Pot Two - Holiday Fund: My OH and I are each going to pay £80 a month into this from October 2014. The plan is so that we can go away in the campervan next year without worrying about how to pay for it. This fund will also pay for the necessities such as MOT, road tax, insurance, etc.
* Pot Three - Surprise Savings: I am paying into this myself... a minimum of £100 a month but hoping to add in a bit extra each month as well. This money comes from my budget of £400 a month. The hope is that I will have a lump sum to pay off a massive chunk of the credit card at the end of November. I will have at least £550 as I paid £150 into it in July.
* Pot Four - Savings Account: This is a second bank account I have which is my savings account. I pay in £60 a month and this is for when I go away with my mum, auntie and cousin. We have one big holiday every year so this pays for it and some spending money. It also allows me to go shopping with my cousin every so often.
:o

Goal Four:
Be grateful for what I have as some people have a lot less.
Self explanitory really. I have a wonderful OH (even if he does drive me absolutely bonkers sometimes). He might not bring me flowers but he does to untraditional romantic things like fill me a hot water bottle and make my tea when I get home from work. I need to be more grateful about what I do have... why look at the grass next door when the grass is pretty dam green on this side of the fence too.
:/


So... here I am after a disasterous July where I abused my credit card again.
I am determined to get my act together and break the habit of relying on my credit card.

... and it all starts on 01.08.14!!
:eek:
Mortgage: £0/£80,329.91
Savings: £0/£6400
:love:
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Replies

  • stewbystewby Forumite
    1.2K Posts
    Debt-free and Proud!
    So.... NSK's August challenge starts on 1st August and as with every month, I am going to stick my thoughts and plans down on "paper".

    * 12 Spend-Free Days:
    This should be achievable as I plan on being very strict with myself and we are also on holiday for two weeks (not as posh as it sounds having a week with my parents and then a week with OHs parents so very MSE).
    :smiley:

    * Debt Free Date:
    This is going to remain 12.12.14!! I am incredibly stubborn and hate the idea of not achieving something so I am going to work very hard to make this goal happen. Including giving the credit card to my dad for safe keeping.
    :embarasse

    * Pay Debts First:
    This doesn't really work for me as my credit card needs paid just before the end of the month so I need to keep money back. So technically I do keep my money back, I just don't pay it first.
    :undecided

    * Food Budget:
    Now this is the game changer. After a "discussion" with OH, we are embarking on a different way of budgetting. We are both putting £60 into the food budget each month. I will put in £60 on the 1st of the month whilst OH will contribute £15 a week (he gets paid weekly). This will hopefully ensure that we don't end up running out of money halfway through the month again.
    :huh:

    * No luxury spends unless budgeted:
    I have some holiday savings but other than that, I do not intend to have any luxury spends so I am not putting any money aside. Hopefully I won't regret this but like NSK says... how much do I want to get rid of this credit card.
    :shocked:

    * Other budgets:
    Same old story for me... petrol = £40. xmas fund = £31.
    I plan on having no other budgets this month.
    :D

    * Pass on a good turn:
    This one is tricky as I have a habit of doing things due to feeling sorry for people so some of the things I would do, I would be doing anyway (taking people to appointments, taking my granny out, taking my mum to her friends or shopping, etc). So, to do something like that wouldn't be out of my comfort zone. In relation to work, I have to be careful what I offer to do as it has the risk of backfiring on me. So going to have a think.
    :(

    * Ebay 20 things:
    This won't be happening as I won't allow myself to have an ebay account. (I have no self-control or discipline so it is too risky).
    :cry:

    * Exercise:
    This will be getting done. Diet is restarting on 01.08.14 and I plan on exercising for 30 minutes at least 5 times a week.
    I want a nice picture of OH and me to put in a collage frame and I am certainly not going to get it with the tummy and chins still on the go.
    If I do lose weight then it won't cost me any money as I have a box and a holdall full of "skinny-me" clothes... so that is not an excuse.

    Roll on August the first.
    :j
    Mortgage: £0/£80,329.91
    Savings: £0/£6400
    :love:
  • HabibibooHabibiboo Forumite
    1.6K Posts
    ✭✭✭
    :wave:

    Found you and your shiny new thread Stewby!

    Love the positivity (and stubbornness)where the debt and weightloss is concerned ... good luck! x
    Stash busting 2014 45 / 60 (balls of yarn)!
    2014 Sealed Pot #2136 ?/£500
    House: Decluttering 322 / 365
    Original mortgage [STRIKE]£149,000[/STRIKE][STRIKE]£117,750[/STRIKE];[STRIKE]£112,500[/STRIKE] MFW 2014#69 GOAL 1: [STRIKE]£109 K April[/STRIKE] ;) GOAL 2: [STRIKE]£103 K by Sept[/STRIKE] ;) GOAL 3: < £100k by end of 2014 MF goal: Nov 2020 - 4 years early
  • NintudNintud Forumite
    182 Posts
    Day 1 of your changes :-)

    May fortitude be with you!!
    MBNA 0/2320. Sant 0/5115 Windows: 186/2050 GC 0/170
    0/21lb for :happylove. £ Per day 31/365. Emergency Fund #7: 650/1000
    - - - -
    What matters is how we live and love and how we spend our dash. (L Ellis)
  • stewbystewby Forumite
    1.2K Posts
    Debt-free and Proud!
    Thanks Habibiboo and nintud.
    :)

    So today is day one and a spend day... but a good one. My mum had bought a sun paper (four actually) so that we could get the vouchers for morries meat.
    As a result, we went shopping yesterday and bought some meat then went back today and I spent a fiver on some more meat. The freezer is full to bursting.
    :D

    * Secret stash: £100 paid.
    * Xmas fund: £31 paid (however £25 removed as pressie bought).
    * Shopping budget: £60 paid (£5 removed for meat shop).
    * Luxury: £50 paid (I know I said no luxuries but we are now going away in the campervan so I have added that in).

    I owed my mum £20 from July so that has also been paid back.

    Out of £400... I have a grand total of £133 left in the bank. (petrol still to be paid out).
    So not too bad, I think.
    :)
    Mortgage: £0/£80,329.91
    Savings: £0/£6400
    :love:
  • Calling14Calling14 Forumite
    3.5K Posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    Hi Stewby found your new shiny diary, as July was bad for me credit card added to. Going to be following you for inspiration I love your saving pot ideas. Plus I whinge a lot wheras I need to be more positive and be grateful for what I have got, except for my weight lol.

    Think my dfd is going to be a challenge, not sure what I was thinking of when I set that but like you determined it is not going to change.

    Good luck onwards and upwards
    LBM 13039 1.1.13 Now £0 Finally Debt Free
    Mortgage free Oct 2019:)
    EFund/savings £19100 29/11/21
  • National_DebtlineNational_Debtline Organisation Representatives - Private Messages may not be monitored
    8K Posts
    ✭✭✭✭
    Hello there,

    I look forward to following your diary, it looks like you're very driven! Do consider that often the amount of interest that accrues on a credit card will be far higher than what you'll get on a savings account. You may prefer to use the money you're putting into savings into reducing the credit card instead. It will save you money ultimately. It's worth considering.

    Best wishes,

    David @ National Debtline.
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
  • stewbystewby Forumite
    1.2K Posts
    Debt-free and Proud!
    Hi Calling.
    It sounds awful to say but I am kinda glad someone else had a bad July (although yours was for a reason rather than mine which was due to stupidity).
    We will do much better this month. Got to see NSK off in style.
    ;)

    It kinda feels like a failure to change the debt-free date which is why I don't want to. I am going to continue to be stubborn and hope I can re-focus in order to achieve my goals.
    :)

    Hi David.
    The savings pots are my way to avoid debt in the future. The problem I had the past couple of years is that I used the credit card to buy xmas presents and as a result spent about £800 on xmas in total.
    Horrendous amounts of money and really silly when I think back on it.
    As a result, OH and I agreed to put £1 a day into a pot which would become the xmas fund. When I buy a xmas present, we remove the money from the fund and leave a wee note to say what we have removed and why.

    My hope is to eventually get away from using the credit card for anything other than holidays (providing we have the money saved for it). The reason for using the credit card for holidays is that it gives us a level of protection should things go wrong.
    :)

    What concerns me is that if I don't save whilst trying to pay off the credit card then it will just be a circle of debt.
    Gain debt, pay off debt, gain debt, pay off debt. I want to break the habit of using the credit card unless I have the money to back it up. So although it is taking longer to get rid of the debt, it will help me break the cycle. Hopefully.
    :eek:
    Mortgage: £0/£80,329.91
    Savings: £0/£6400
    :love:
  • beanieloubeanielou Forumite
    77.8K Posts
    Part of the Furniture 10,000 Posts Mortgage-free Glee! Name Dropper
    ✭✭✭✭✭✭
    Happy shiny new diary :)
    Keep posting!
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    MFW. Finally mortgage free February 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • chevalierchevalier Forumite
    7.9K Posts
    ✭✭✭✭
    Good luck with your new goals. It is definitely the case that moving more helps you lose weight. I have a job now that is quite physical and I have lost 3kg in the last 6 weeks, purely from the job. So win win there.
    chev
    I want a job that is less than an hour driving away from my house! Are you listening universe?
  • HabibibooHabibiboo Forumite
    1.6K Posts
    ✭✭✭
    stewby wrote: »
    The savings pots are my way to avoid debt in the future. The problem I had the past couple of years is that I used the credit card to buy xmas presents and as a result spent about £800 on xmas in total.
    Horrendous amounts of money and really silly when I think back on it.
    As a result, OH and I agreed to put £1 a day into a pot which would become the xmas fund. When I buy a xmas present, we remove the money from the fund and leave a wee note to say what we have removed and why.

    My hope is to eventually get away from using the credit card for anything other than holidays (providing we have the money saved for it). The reason for using the credit card for holidays is that it gives us a level of protection should things go wrong.
    :)

    What concerns me is that if I don't save whilst trying to pay off the credit card then it will just be a circle of debt.
    Gain debt, pay off debt, gain debt, pay off debt. I want to break the habit of using the credit card unless I have the money to back it up. So although it is taking longer to get rid of the debt, it will help me break the cycle. Hopefully.
    :eek:

    :wave:

    ^^^^^ This ^^^^^ makes absolute sense and seems entirely sensible to me Stewby.

    I'm doing a soft stooze with a Mr T cc at the mo to earn points for Xmas and even though the money is being put into mortgage account to offset the mortgage interest, I still panic about the idea that I am accruing 'debt' - even though I have that debt covered, so I can totally understand where you're coming from (long backstory I won't bore you with).

    Really controlling debt is about controlling cycles of spending behaviour which is exactly what you've been working so hard to do Stewby (this thread and last thread) so having a goal of using the cc only for holidays (to gain the purchase protection) seems like an excellent plan!

    Wishing you a happy August and success with your goals for the month x


    Stash busting 2014 45 / 60 (balls of yarn)!
    2014 Sealed Pot #2136 ?/£500
    House: Decluttering 322 / 365
    Original mortgage [STRIKE]£149,000[/STRIKE][STRIKE]£117,750[/STRIKE];[STRIKE]£112,500[/STRIKE] MFW 2014#69 GOAL 1: [STRIKE]£109 K April[/STRIKE] ;) GOAL 2: [STRIKE]£103 K by Sept[/STRIKE] ;) GOAL 3: < £100k by end of 2014 MF goal: Nov 2020 - 4 years early
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