New Years Goals and Career Changes - A diary for a better me.

myteeduck

Hi All.

I have decided to start a new diary, however don't expect it to be a masterpiece a la Bridget Jones!

The link to my old one is below, however it is so out of date there is probably not much point in anyone reading about how I can’t manage my finances.

Link: https://forums.moneysavingexpert.com/discussion/3948591

About me:

I am a 29yo Female living in the North West. I live alone with a cat and I rent my house off my parents. They own the house, but I pay the mortgage. I will post my new updated SOA in a moment.

The house arrangement works as one day, hopefully if all goes to plan, they will sign the house over to me. There is a post in my old diary relating to this, so I wont go in to too much detail here.

I use interest free credit cards to manage my big purchases. Over the years, I have purchased a macbook on one crd, dealt with my car insurances through others and I am on my final one (hopefully) where I am paying for a online course. My career is the main problem.

I work as an Admin Assistant with no real prospects and I honestly don't see my income rising anytime soon, should I stay where I am. I do like my job. I have no stresses and the job I can do with my eyes shut. But there in lies the problem - there is no scope for movement. I can’t get promoted as my boss is qualified in a totally different area and I have no chance of ever taking over from him. He is an engineer - I do his paperwork. The only way of being promoted, would to become the PA of our MD but as the last one got made redundant, that idea is out of the window.

So I decided to make a career change. I have decided to get my AAT qualification and move on to a job in finance. Completely different ballpark, but as my tests have been showing - I seem to have a knack for it. I took my Level 2 Progress Test number 2 today and got 97% on it! I could ave got more if I have rechecked my answers before submitting them as I made stupid mistakes! They don’t count to my final grade so luckily I have time to improve! Any way the point of this post as i feel that i am babbling is that I have a credit card currently totalling over £700 which needs to be paid at some point next year and I need to get saving. I have my Car insurance due next year which I would like to save towards and I would like to pay this course off shortly after completing it, rather than months later as otherwise i’ll have to wait before starting level 3.

Bit ironic that I am have started a finance course yet I am writing a post about sorting my own finances but hey that is my life!

I don’t struggle too much with my money - bills get paid on time and when required they are paid in full so I am not paying interest when I don’t need to etc. I just seem to be a little over excited when I do go shopping and I have a habit of not sticking to lists or making extra purchases that I don’t really need. For example I went to a supermarket (a big branded one) the other day and saw some coffee on offer. I got a good deal as have some points to use on the purchase. I came home tried it - liked it and then proceeded to go back the next day and get 2 more flavours! That wouldn't have been too bad, except for while I was there, I bought 2 bars of chocolate Even more stupid is that I pay £5 per week for Slimming World!! Its like all common sense went out of the window. I should have just gone home and done without the other flavours - maybe got a different one when I ran out of the flavour I had bought the previous day! I was enticed by the offer. I need to exercise more control over impulse purchases. So that is the whole point of this diary. I am going to use this diary to help me to make conscious choices.

I am starting a little early for the New Year as I am hoping that his months wages (or what I will have left) will help me through the difficulty that is January - I like a lot of people get paid early in December but I have to wait 6 or so weeks till the next payday, so If I can start good habits now, hopefully January will be a breeze (except my friends 30th birthday celebrations in Blackpool at the end of January - weekend before Payday - eak).

I’m also doing a little pathetic on the slimming world point as I am eating rubbish, so as I do this with my mum, the plan is to get back on plan in the new year and really hit this weight loss hard. So I am going to make some New Year goals now:

To reach my Slimming World goal before April.
To pay my credit card off before June 2015.
To stop making impulse purchases
To have a budget and stick to it in Blackpool
To try to save as much as I can for my car insurance ready for September 2015.
To pay for Christmas presents during the course of the year rather than to leave it till December as I have this year.
To get a buffer fund in place for the cat as she is currently 10 years old.

Hopefully this should be enough!

If anyone would like to make suggestions, then feel free. Even if no one comments on this, I will carry on updating it - I think this will be instrumental in helping my goals.

Thank you for reading my very long winded post and if you made it this far - Well Done. Treat yourself to a nice hot brew - I think you’ll need it!

xx

myteeduck

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1076
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1076

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 234
Rent.................................... 345
Management charge (leasehold property).. 25
Council tax............................. 59
Electricity............................. 26
Gas..................................... 10
Oil..................................... 0
Water rates............................. 17
Telephone (land line)................... 30
Mobile phone............................ 7.5
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 80
Clothing................................ 5
Petrol/diesel........................... 80
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 5
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 945.62


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 15000
Other assets............................ 0
Total Assets............................ 15000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 15000....(234)......0
Total secured & HP debts...... 15000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Credit Card....................733.......7.33......0
Total unsecured debts..........733.......7.33......-


Monthly Budget Summary
Total monthly income.................... 1,076
Expenses (including HP & secured debts). 945.62
Available for debt repayments........... 130.38
Monthly UNsecured debt repayments....... 7.33
Amount left after debt repayments....... 123.05

Personal Balance Sheet Summary
Total assets (things you own)........... 15,000
Total HP & Secured debt................. -15,000
Total Unsecured debt.................... -733
Net Assets.............................. -733

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

myteeduck

Any Q's about my SOA please ask.
I have answers for most queries as I don't work in the way I should!

x

beanielou

Happy shiny new diary.
700 quid on a CC is not too bad.
Take it car finance is fairly recent?

myteeduck

Hi Beanielou - Yes the car finance is fairly recent - I got him in April and the time has flown! I love the car soo much that it will be a keeper for a long time. Its my 3rd mini but my favourite one - He has an official name and everything from Mini itself, so I think I will be paying him off completely and running him in to the ground. I say him - his official name is Homer

£700 is quite low considering, but when I barely have any money left - its seems a lot. I am only paying the minimum amount at the moment to keep my 0% rate going and I need to put £50 more on it tomorrow and then £80 x 5 for my exams, its going to be £1000+ before I know it.

Luckily my parents have agreed to pay my AAT membership for me for the first year so that will save me £120

xx

beanielou

So maybe the best way forward might be to try to break the CC into bite size pieces?
Anything you can ebay/car boot?

myteeduck

Hi All

Beanielou - I was going to dig through my piles of junk to see if there is anything I can eBay. I have a pair of shoes that I definitely can, so i'm sure there will be other things.

I was away from Wednesday last week until Saturday, so the full 4 days were NSD's as I was on expenses! It was great.

Yesterday was the Christmas Markets - I had a budget of £20+travel, and managed to come in at under £20 inc travel! So quite pleased at that.

As I haven't been home I had to go out for lunch today to grab something but I was quite good and got loads from A**I for just over £3. Again another proud moment.

Still got a Xmas meal tomorrow with my tubby club but deposit been paid and I will stick to soft drinks as I have the car.

Oh well, most of this weeks damage will be caused tonight when I have to go food shopping. I will try to behave but Leberkuchen may come calling

xx

beanielou

Our Fat club went to the Indian :rotfl:

myteeduck

Awww I wanna go to the Indian - Instead we are having a carvery! Only 1hr left in work

Oh in other news - I have a job interview tomorrow for an Account position - will be a starting position but could be a good chance to get my toes in the door - It will allow me to use my degree as well

Fingers & Toes crossed x

beanielou

Positive vibes for the interview

myteeduck

Hi All,

beanielou wrote: »

Positive vibes for the interview

Thank you Beanielou

All seems to have gone well - think they liked me
I'll hopefully know by the end of the week if I have it or not. If I do - I start on £17K!! :eek:

Never had that much money - It would mean I can either pay off my course quicker or I can have some month at the end of the money for once!

So even I am keeping my fingers crossed!

Anyways the progression is what I am really after - they seem to be really good for career progression - if I like it and do well I can move up within 2 years hopefully.

There will be inevitable draw backs - my holiday period will be frozen at 22 days plus bank holidays were as at my current job I can reach 25+ BHs. Also I will be doubling my daily mileage, however the journey seemed quicker and nicer and quieter!

Oh well we will see soon.

In other news - went for my carvery last night after Chub club and I spent a grand total of £17.50 including weigh in and the new magazine - so all in all - not too bad

Downsides are on Saturday I need to buy wrapping paper, foil and Christmas Cards for the special people in my life as I haven't any of those. I did manage to negotiate with my sister this morning and I'm getting her Christmas Tree when she takes it down as she is treating herself to a bigger one and mine has a gaping hole at the back where the branches have moved. It is old and I've had it 5 years already - think it was a hand me down as well.

xx