My SOA

winkle1

hi people, sorry i havent updated this for a while but since the last post I have a new nephew and a broken foot! fell down the steps at the train station on the way to meet my sister in labour so had to get a cab which cost me £70. plus I am off work now for 4 weeks so I wont be able to do any overtime! gah!

good thing is I am not spending any money cause I am stuck indoors!

bad thing is that i havent been paying attention to finances this month cause of so much other stuff going on. plus because of the bank holiday weekend few dd's and switch transactions came out late and therefore from this months wages. also, was supposed to do some overtime this month to help with clearing the last debt, but I am now signed off work... oh, and my student loan payment has gone up a fiver… the best laid plans hey....

not sure if I am still on track to pay the last of my debt off at the end of the month, cause I think I miscalculated having to include the overdraft of £500 as well (which I have paid off last month) – see, this is why I need you guys!!!

here are the figures:

last debt - EGG card: £1907.66 left to pay

currently £835.34 in savings
plus £600 that I would transfer into savings on payday

makes £1435.34

so £472.32 short.

Part of me is tempted to just pay that extra £472.32 out of my wages, clear the whole card and live REALLY frugally next month. I am signed of work till at least the 13th October so I don’t need my travel card, so that’s £64.20, instead of putting £150 in the housekeeping, I could throw that at the debt and live off boyf’s £150, I don’t need any going out money/lunch money etc so the £300 a month I usually have left over after outgoings/debt payments/savings I could use towards the debt – I am stuck on the sofa and cant read £300 worth of magazines! My boyfriend said he would lend me the odd tenner here and there if I needed it, so….

what do you guys think? Would you live extra frugally for 1 month if you knew you would be debt free (not counting the student loan).

shell_girl

Hmmm... dilemma
Sorry to hear about your foot BTW.

It depends on how frugally you'd have to live. If you have to cut down the essentials then I would say split it over two months, but if you can do it and still keep on top of everything else then I'd say go for it! Just don't make the mistake of having a splurge month in October to make up for a cr*p September!

xela_17

I would go for the frugal month. take advantage of being at home and not spending money on going out, lunches etc and pay it all off. You'll feel so much better next month. Debt free and mobile again!
ps well done on taking the step of using your savings to pay off the debts. It took a good few months of (gently!) nagging my friend before she would do the same. Luckily she listened in the end and now she and (nearly) you are debt free and can save again with a clear conscience!

msmicawber

Hi Winkle - you've had an eventful time. Congratulations on the new nephew, anyway.

You're not that far off-track, so why not just go for the frugal month and say goodbye to that last debt. I hope your foot isn't too painful for too long.