Battling Debt and Mental Illness — and (hopefully) Winning!

AspiringButAnxious

Bob — I spread out chopped kale on a couple of baking sheets and put in the oven at 160C for half an hour, then turn the oven off without opening it, leaving them in for another half hour. I like them plain or with a little salt, but you can use all kinds of flavours. You can toss them in oil and the flavourings of your choice before baking, which works well for most flavours (balsamic vinegar, lemon juice, curry powder, chilli flakes, etc.) or experiment with adding flavours afterwards.

My premium bonds money came into my account, so £99 was added to my EF, which is now £493.22 It will feel even better once I get over £500, which I hope will happen soon if my PP payments from SB arrive.

The last time I had this amount of savings was 10 years ago, when I was working in a supermarket. They didn't last long after depression and anxiety forced me out of the job. This time, I'm hoping my savings will be my safety net as I finally get off benefits and start earning a living, whether through freelancing alone or combined with a part-time job.

Bobarella

Sounds really nice. Must remember to get some kale.

AspiringButAnxious

Healthier than crisps and pretty tasty

Today has been pretty good. My counselling session went well and I walked just over a mile each way, so got some exercise. I received my £5 Pp payment from SB, despite having ordered it after the £10 payment I'm still waiting for... Deliberated over where to put it, but decided to continue prioritising the EF until it hits £1,000, so it's now £498.22

crazy_cat_lady

So close on the EF ABA - over £500 before you know it.

AspiringButAnxious

Hopefully when SB process my £10 Pp payment! Getting impatient...

workingirl

Hello, ABA. Thank you so, so much for those tips. I have taken the plunge and booked an appointment with my GP for next week. I'm really nervous. I have also downloaded a meditation app and I will also look into the ones you've mentioned. I have dusted off my old bike so that I can start cycling again. I will also look into getting that lamp. My elderly lady has a dog which I take out on walks for her and you're right, spending time with pooch really does make me smile.

Congrats on cancelling your overdraft. As soon as I have mine paid off, I will be cancelling that as well. Also fantastic news about your premium bonds. More to add to the EF. The kale chips sound nice. I have never tried kale before so may pick that up if I see it in the supermarket. I think I better Google what it looks like first though.

Can I ask, are you using a separate bank account for your writing income? I've just got my first Upwork writing assignment. It's a short article and the pay isn't much. But doesn't this need to be kept separate from your personal funds and be declared with HMRC? I'm really sorry if these are obvious. I'm just really new to this freelance thing.

AspiringButAnxious

Thanks workingirl As a sole trader, you don't need a separate business account because you are your business and your business is you. You do need to keep records of business expenses and income for HMRC, but there's no need to keep the money separate from the rest of your money. I keep my records in an accounts book, but you could do it on a spreadsheet instead or in addition to this. Mine makes pretty pathetic reading at the moment — I doubt I will break even this year, let alone turn a profit!

I got fed up with waiting to get £10 on OpW so I could get a Pp payment, so I got a £4.50 amazon voucher instead. I then used this, plus the balance left from my last blowout on ebooks, to buy an ebook called The Wealth Chef. I was short 9p, so that's gone on the credit card! Lol! The book is right up my street: practical financial advice combined with intefrating the emotional/mental aspects.

I'm about 25% into the book, but it's already inspired me to manage my wealth better. I am opening a savings account with a higher rate of interest, which will now be my Rainy Day Fund (from whence I took the £35 to open it with). I will also bite the bullet and get the best cash ISA I can in the next tax year, instead of continuing to use my current ISA with a !!!!py interest rate. My current Rainy Day Fund savings account, which currently stands at £2.62, will become my Fun Fund: I will use it to enrich and enjoy my life. The book reminds you that money is worth nothing unless you use it to improve your life — there is no point being miserable and saving every penny, just as there's no point in junk spending all the time.

I also phoned (!) my bank and reduced my credit card limit from £6250 to £1500. I don't think I will get into the same mess again, but this will prevent it from getting too far out of hand if I do. The current balance is 9p...

I would also like to dabble in peer to peer lending, once my EF is over £1000. It's a little riskier, but the returns are better and I wouldn't invest more than I could afford to lose. I like the idea of being more active in managing my finances — it's actually quite fun!

Still feeling impatient about the £10 SB Pp payment that's due...

AspiringButAnxious

Still no £10... Lol!

I've taken a big step today: transfering my cash isa to one with a fixed interest rate of 2.1% until 2020 (yup, I read other pages on this site!) compared to 0.25% on my current one. Should have changed ages ago, though to be fair, it's only recently that I've been keeping a half decent wodge of money in there. I'm hoping I won't have to use this money, my EF, so will build up my Rainy Day Fund, which is now in an easy access savings account with a rate of 1.1% (compared to 0.25% for the savings account I'm using for my Fun Fund). But even if I do have to close the isa early, it will still be a great deal despite the penalty (as Martin Lewis says on the cash isa page). Hopefully it will all sail through well

I have finished The Wealth Chef and feel very inspired. I might not have a lot of money right now, but that doesn't mean I should sit back andnot make it work for me. I will feel even better once the new accounts are all open and I'm adding to them each and every month.

Today was SO day, so I have now paid off 9.9% of the loan... I'm planning to overpay it by £9 when I get my esa on monday, so that it tips me pver 10% and down to a round £13,000 — a big psychological boost!

Feeling frustrated that I can't cope with work atm. I try to believe that something will turn up at the right time, but it's difficult. I haven't done much today (apart from applying for the isa) because I feel a bit despondent. On the bright side, I have sugar free carrot cake (in the no added or processed sugar sense, since there is sugar in the carrots and sultanas) and might make an apple cake at the end of the week, to use up the half price apples I bought last week Will probably also make curry sometime, to use the remaining YS veg — though most of it went into soup, which I've had for dinner the past 3 nights!

misstara

Hmm think I should probably take a look at that book, like the idea of making the little money I have work harder. Thanks ABA, you've inspired me to have a look at my savings interest rate as I don't think it's particularly great.

AspiringButAnxious

Thanks tara It's full of cooking analogies, which helped me to think of money in terms which I understand and am familiar with.

This morning, I have robbed my cash isa... So that I could get going with my stocks and shares isa with £50! I will pay extra back in on Monday.

Quite amused reading the warnings about not to exceed the isa limit — I can't wait to be in a position where I have to worry about that!