I am such an idiot! When will I learn?

judi24

Used snowball calculator and if i can pay £750 a month to my CC's based on current interest rates I will have them paid by Feb 2016 - hopefully I will get a 0% card at some point and be able to cut this time a little - I would like to aim for Christmas 2015! But will need to really examine my SOA for savings or look at ways to increase my income!

dktreesea

judi24 wrote: »

....
Dktreesea - thank you - some days I think I am doing ok - and to be honest maybe that is why Violalass felt I had not had my light bulb moment - I do have debt but it ins some respects it is affordable - I would just like to be in a position to be able to spend money on what I want rather than servicing the debt and I don't want the debt to rise (which after this summer) is a very real possibility if i don't learn to manage my money in a different way!

........ so I am now on a mission to spend less than £50 on everything until payday which is still 2 weeks away!

Being able to spend what you want when you want to and being in debt aren't unrelated. We live in such an "I want it, and I want it now" society. I sympathise with your plan to just want to spend £50 in the next two weeks. Technically it may even be do-able.


Just in my experience, weaning oneself off spending can be a long process. it's not debt in itself that's the problem; it's the way we spend in the first place. You are probably going to need to pace yourself. Debt is like weight, imho. It goes on slowly and comes off even slower. The number of times I have been out, felt peckish, and blown £3 or £4 on a sandwich and a drink that would probably have cost me 40p to make at home....I've long lost count.


When I've felt down in the past, I would go out and buy myself something. Spending to make oneself feel better works. Okay, not for very long, but shopping therapy can ease feelings of depression. The other side of the coin is that when the bills come in, it can cause that depression to return.


I've learnt to recognise my low points. I don't go out with much money in my pocket when I feel down. But going to the other extreme and trying to live off hardly anything for a protracted period of time (2 weeks with children to consider counts as "protracted" to me) could just be grinding yourself down unnecessarily. £100 a week for the next two weeks might work out more manageable.

Skint_but_Optimistic

You are doing great. I need to curb my spending a little and look forward to looking at your methods.

Dealing all in cash for a fortnight really boosts my money sometimes. its harder to part with when its all you have.

asparagus1968

"which is essentially a reduction of debt of almost £500"

wow, massive pat on the back for you! that's great.


9 days till payday here. I've got an app- free- called spending tracker. The icon on my phone is a little wallet. I have had it a week, and am too a saddo, as looking forward to inputting the October budget in it.
well, it's good to have a hobby:)

judi24

Thanks for the encouragement everyone - I do have a habit for trying to do everything to the extreme and then I fall by the way side and loose motivation (much like loosing weight!)


Quite pleased with the reduction in OD usage this month - and need to do a proper spending plan for next month and start attacking the credit cards- i have a friends big birthday next month that will require me to book a hotel room for a night for me and DD2 - but hopefully a travel lodge won't be too bad - need to do that tonight!


I down loaded the same app asparagus - its great!

[Deleted User]

judi24 wrote: »

or look at ways to increase my income!

As several FMs (myself included) have pointed out, increasing your daughter's contribution, is a simple way, to substantially boost your household income.

judi24

Going to broach the subject tonight!

judi24

Well the conversation didn't happen - DD2 went for the longest bath in history and went straight to bed! I went up to try to talk to her armed with figures but she was already asleep!!!


I will try againg tomorrow!

judi24

On a more positive note - I was reading Martins Tips regarding energy switching and checked out the comparison - discovered I could save £15 a month by switching and I am curremtly in credit on my npower account by £265 - so started the switching process tonight - will get back the credit balance too so that will be a nice windfall to put towards my debt!


Going to go back through my current accounts and check I have evrything cancelled and down to lowest prices again tomorrow and maybe update my SOA with my new figures - might do the CC balance transfer and account closures tomorrow - even though I will have to pay £50 from my OD but it means I would be ready to make proper payments on payday!


Spent £2.50 on a new water bottle for DD3 today - hers has gone missing over the summer and she needed it today as she was sitting an 11+ paper.


But my mum asked me to make a rice salad for her for a church event so brought me the ingredients plus a bit extra - so I have managed to gain a bag of frozen peas, 2 tins sweecorn, peppers, onions, a bag of rice - so a nice addition to my grocery store! She is lovely my mum!!!

ViolaLass

judi24 wrote: »

Spent £2.50 on a new water bottle for DD3 today - hers has gone missing over the summer and she needed it today as she was sitting an 11+ paper.

http://www.tesco.com/groceries/product/details/?id=257972267