My Graduate (Post-Student) Debt Diary!

MrJester

>12 Months

My mother is still doing odd jobs and she's 64. She just text me after I said I'm still ill but working anyway that she had a bad knee (arthritis basically) and still "limping to jobs" - thats what she said.
Horrible, breaks my heart, I just need to get all my debts sorted so I can give her money every month so she can live nicely without needing to do jobs anymore.

System

Let's have an update JJ! How is it going. I know you're still biding your time to move!

MrJester

>12 Months

sauceoclock wrote: »

Let's have an update JJ! How is it going. I know you're still biding your time to move!

Things have finally began to push in a more positive direction for me Sauce. Been meaning to update.

So I finally sold my expensive computer. That's around 2800 back in my pocket. I'm waiting for the customer to say hes happy with it before risking spending that money(ish..)

But my plan with it, is to purchase a new computer system around the 750 mark. So I should be left with around 2000 which can all go to debts.
My moneys in different pots right now as I await a refund from the macbook I bought at Christmas (it was just so I could have a temporary laptop to take home, £700). That should be in next week, but in the mean time will pay rent this month with the 2800.

I sold a lot of stuff, and am still doing so, which has meant I've been pretty comfortable over the past month even though it being Xmas. But I've been a tad unsure of where my moneys going due to the holiday break, but essentially I'll get paid in just over a week and I still have 2-300 left which doesn't happen often. Should mean I can put some more money into the debts from my pay cheque/other sales and not just the sale of my computer.

In terms of living, I told housemates and LL that this payment will be my last. Got an ad on spare room yesterday and already have two viewings for next week.
I'm pretty sure of where my work is moving, and with that I will be looking for something near to it, which is alot cheaper than what I am paying now. I want to pay max £700PCM with bills included, so I'm going to do my best to find that. Right now I'm paying something like 820, possibly more per month, which is just a huge huge portion of my wages and it is not worth it. Particularly when I am in debts like I am.

Hopefully I will find something better suited for me by mid feb when I plan to move out of current. But tbh my main focus right now is on finding someone to take my room. I'll live in a hotel or something haha.

So in short.. Have at least £2000 I can whack off my CC debts due to a sale. In progress to move into a closer-to-work, and cheaper new room/share.
From here, I should be able to do some serious debt killing.

The question is, I'm wondering what the best method might be right now, do I put the 2000 straight off the highest interest immediately? I realise thats the most logical probably, just with due dates on my other cards coming up shortly they will also begin charging interest soon.. I need to check the interest rates I guess?

System

The question is, I'm wondering what the best method might be right now, do I put the 2000 straight off the highest interest immediately? I realise thats the most logical probably, just with due dates on my other cards coming up shortly they will also begin charging interest soon.. I need to check the interest rates I guess?

Sounds like you're on a more positive path which is great news :j

If I were you I would sit down with a pen and paper and look at my credit cards. Which has the highest balance, what will the interest rates be when they kick in, how long do you have before they kick in. If you want any help post the details on here and I can take a look, working in finance has it's bonuses!

MrJester

>12 Months

sauceoclock wrote: »

Sounds like you're on a more positive path which is great news :j

If I were you I would sit down with a pen and paper and look at my credit cards. Which has the highest balance, what will the interest rates be when they kick in, how long do you have before they kick in. If you want any help post the details on here and I can take a look, working in finance has it's bonuses!

So unfortunately that money went away (item I sold, buyer returned).. so couldn't make the big difference I had hoped to the CC's. I may yet sell it and be able to make a big chunk off the CC's, but I'm no longer counting on it and will instead begin to make changes elsewhere.

For a start, it looks like I have found a replacement for me in my house so they will take over the rent. I have two weeks to sort that, and find myself somewhere else to live. I plan to look for something very cheap and temporary whilst I find a hopefully long term home.

So my living cost will drop shortly from around £850 pcm to hopefully a lot less, I'm aiming for £700 max all inc, though a temporary place might come up and be even cheaper at £600.

I'm sort of in front this month with money, technically I over spent but with the move coming up I'll be living temporary (Airbnb or similar) until pay cheque comes on the 20th from which I can pay for rent up front again.

Everythings a bit all over the place, not sure where I'm going to be living in about 2 weeks but I'm sure I will find something, places come and go in London you just have to be quick!

MrJester

>12 Months

An update.. Next weekend I should be (assuming nothing goes wrong ) moving out of my current place and into a new one. With my rent/bills changing from approx £850 pcm to £650(!!). This is obviously a LOT cheaper (and somehow the place is even nicer) meaning that theres £200 extra there a month to be able to start making some improvements on my debts finally.

When I used to pay £650 I actually started to pay the debt off slowly but these past three months that has just been impossible for me.

With the move, though, I will be slightly further out of central London. But with my work I can get a bike on the cycle to work scheme (save a lot by removing the tax cost) and I'll pay something like £30 a month to pay it back instead of around £100 on commuting each month.

So this should be a blessing, cheaper living and cheap travel with a bike and I do love to bike around everywhere because it keeps me so much more fit improving my cardiovascular.

I've also had some interest for my super expensive computer again.. I'm not holding my breath on it though, it will sell when it sells and when it does a massive chunk will come off my debts and it will be a good day ha.

Lets move on up

MrJester

>12 Months

It's almost definite I will be moving this weekend into a new place with a very accommodating fellow and be paying only £650 pcm! Saving me ALOT.

Just changing that on my outgoings/budget sheet makes my money remaining look so much better, like I will finally be able to tackle debt and even have some extra for myself without worrying about money. Also removing the usual outgoings of travel expenses makes it look even better too!

Already started packing. So excited things are finally looking up again. Feel like 2015 is finally beginning for me in improving my status for my future

System

JoeJester wrote: »

It's almost definite I will be moving this weekend into a new place with a very accommodating fellow and be paying only £650 pcm! Saving me ALOT.

Just changing that on my outgoings/budget sheet makes my money remaining look so much better, like I will finally be able to tackle debt and even have some extra for myself without worrying about money. Also removing the usual outgoings of travel expenses makes it look even better too!

Already started packing. So excited things are finally looking up again. Feel like 2015 is finally beginning for me in improving my status for my future

Wow! That's fantastic, very exciting! Hopefully it'll put an end to your moving in-and-out of places as moving can be stressful. Shame that the computer got returned, any luck with selling?!

MrJester

>12 Months

sauceoclock wrote: »

Wow! That's fantastic, very exciting! Hopefully it'll put an end to your moving in-and-out of places as moving can be stressful. Shame that the computer got returned, any luck with selling?!

Yeah its a bit of a 'mare, ha.
Nope unfortunately not, had some interest here and there but not holding my breath ha.

MrJester

>12 Months

Last night I moved into my new place, I love it. And it's easily about £200 cheaper. Very happy chap today.

Started looking at freecycle for some new/better furniture for my room, the stuff in there is very basic currently, and the LL is happy for me to change the stuff as I wish! A new place a new start kind of feeling going on, making me want to buy a lot of new stuff for my room as I foresee me staying here for awhile.
Will of course do what I can to get things off freecycle and charity shops (I quite like vintage/old style stuff too) to get some bargains and then for anything I need to buy new I will coordinate around the cheap/free items I get. Gonna be STYLISH.

What else.. So I just am going to update all my addresses to this address, like I said I plan to be here for a while, a MINIMUM of 6 months but its looking like it will be longer. Early days still obviously.

I am also going to change my Bcard payments from the minimum (which ends up being around £50) to £100. Then will from now be doing my best to be able to throw extra money at it.

Soon as I'm comfortable in my place I will begin the eBaying again. I know it well, and have my own stuff to get rid of, and enjoy the occasional finding bargains to then sell on eBay, all this can go straight onto debts.

I do also want to start a holiday fund, as I plan to go to Rome in May with my girlfriend.

The new year is finally starting for me with a fresh start after a rocky 6 months in London, but things are looking clearer now.