That 'sorting out my life' thing

Casper123

Hi all, I've been browsing this site and forum for a while and finally decided it's time to start doing this properly - you've all got some great stories and ideas so first, thanks for motivating and inspiring me!

The background: Just over a year ago I relocated to a new town (about 200 miles away) where I didn't know anyone for a job. Whilst it was definitely the right decision and I don't regret a second if it, it has been expensive. Between furnishing most of flat (family help a bit & had some stuff already) and having to top up my work wardrobe (previously wore a uniform) what savings I had left after funding my MSc soon dwindled. Add to that the fact that going out and getting to know people usually ended up in spending money I was in my overdraft pretty quickly, with a few extra bits going on the credit card.

The current situation: the good news is now that I'm settled I've been able to save a bit at the end of each month and I'm now almost out of my overdraft (last pay cycle I went to -£50 - definite improvement!). The bad news is I still have about £500 on credit cards. These are still on 0%interest; one ends in jan & the other in next July. Obviously I will clear the one where the 0% ends in jan first which I think will be doable.

What I've been doing: I started using a spending app a few months ago and I think this really helped in clawing my way towards clearing my overdraft. Socialising now doesn't automatically mean going out for food and drinks (obviously it still happens sometimes), we tend to use other options. I've also managed to reduce some household bills, take lunch to work more often and halved the amount I spend on take out coffee. I've also sold a few bits on eBay but so far that hasn't been much - got more out aside to go on though.

My next steps: the next few small things I hope will help to contribute to clearing debt are:
List what I've got put aside on eBay;
Continue clearing out wardrobe & cupboards for things to ebay/similar - there's a few old handsets etc there);
Reduce food shop spends (getting there on this);
Continue to identify new areas to save on.

So that's me! I'll try and track my progress here & welcome any other ideas you all have. Hoping to clear cards ASAP and start saving, saving saving

*Robin*

Welcome to MSE Diaries, Casper, :hello:

Sounds like you're well on track to becoming debt-free; best of luck with your journey, you'll find plenty of support here!

Casper123

So the good news is I'll be ending this pay cycle without using my overdraft - 1st time this has happened in about 15 months so I am very happy . That's also with a few unexpected costs this month. My goal for next month will be to pay off more than this month on credit cards and again stay out of overdraft. Hopefully more listings on eBay will help

kjp

Excellent news! I did similar (although only just over 100 miles!) a year ago, meeting new people cheaply is difficult! Good luck in your credit card busting/overdraft avoiding, if I can work out how to subscribe I will!

K

Casper123

Thanks kjp!

So far this month sold a few bits on eBay, nothing too pricey but it all helps I guess! Got a few more bits live and to list this weekend so fingers crossed. Also paid off a but more than usual on the credit cards and look set to end pay cycle out of overdraft again and with a slightly bigger (albeit still small) balance than last month. Slowly starting to realise that the small steps definitely do make a difference