Comedy's Debt Free diary

comedy_dave

Hey all,
I thought I would introduce myself as a new member.
I have been using this site on and off for a while now, but decided the other day that its time to kick the little debt I have into touch and take a more positive approach to my money managment.

I work as an IT technician at a local school, earning £14k a year (£950 take home a month)

During my student and unemployed days i ran up a load of debts (the the peak of it I was £4k in debt and defrauding the bank every month to get hold of my wages)
My debts now are a little over £2k in total, and my money ticks over between the £1k overdrawn and my od limit of £2k every month.
I am currently paying the minimum payment of £10 a month on my student barclaycard, so I am planning to up that to kick it into touch.

I started working on the overdraft with good intentions, purely trying to spend less, and gradually lose the OD ofer the course of a few months, but that didn't seem to happen anymore.

So I have mentioned my £950 a month income, now for my outgoings.
I pay £265 a month rent for the flat I share with 2 mates.
£30 a month for car insurance
£30 a month petrol
£31 a month gym (corperate membership)
£25 a month for sky, phone, internet
£25 a quarter for gas
£80 a quarter for electricity
Then theres food, etc which i don't really budget for, but working in a school means during term time I get a healthy meal at work every day for £1.50

I have applied for an A&L Premier direct current account and direct saver. With the hope that only having 12 months free overdraft gives me a goal to work too. Also, I plan to use the savings account to accumulate the value of my overdraft, therefore, the month I hit my overdraft amount in the savings account (maybe a couple of hundred quid over the amount), i transfer the money into the current account on payday. Badabing, overdraft gone and working in plus money for the first time in 6 years.

Any tips guys?

saverram

had a good start with u r SOa. many experienced people here will elp u shortly. wish the luck in u DFW journey

saverram

had a good start with u r SOa. many experienced people here will elp u shortly. wish the luck in u DFW journey

tealady

1) Keep a spending diary cos' as Mr Tesco says "Every little helps"
2) Use cashback sites for things like insurance.
3) Check you are on the cheapest tarif for gas and electricity
4) Check out the "Old style" threads for some great money saving tips.

madmoney_2

hi dave, i sympathise with u, just wanted to say good luck and i will be reading ur diary with interest xxx

tealady

:wave: Sorry CD I must have sounded a bit abrupt above, blame it on a long stressful week and a bottle of liquid relaxant (alcohol). Welcome to the gang, there are some fantastically helpful and nun judgemental people on here. I for one couldn't go without my regular MSE fix.