Feel so alone

Popstess

Can't sleep, haven't been able to sleep properly for a long time due to worrying about money.
Also my head is spinning with 100s of thoughts. I'm currently looking into a new better paid job (isn't as straight forward as it sounds)
I really want to bring in some extra even just small amounts of xtra income to keep me motivated.
I'm a bit of a all or nothing kinda gal, I kind of have a switch and it's either utterly obsessed or completely uninterested no middle ground. Right now I'm completely obsessed with money lol making money saving money and paying off debt.
The way I see it I'm at a standstill, I've got lots of little accounts with various pots of money set up, I have a teeny start on an emergency fund and I have a new 'spending money' current account that is delegate from my wages and DD's. I still have money left in the bank and only a couple of small bills to pay between now and pay day.
My plan is anything that's still in my account on the day I get paid can be used towards my debts well I'm planning on halving it. Half as an overpayment and half to my EF
Then I'll start the process all over "pay myself" my monthly "spending money" then when pay day comes round anything left over sane again.
So at the moment I can't do anything until pay day.
Anyway sorry for the late night ramblings needed to get it off my chest.

Popstess

I can't believe I have over £565 a month going out of my account paying off debt, debt that in Martin Lewis words is bad debt as I have nothing to show for it no big one off purchase just a load of debt I don't even know what it was spent on!!!
That sickens me that if I was debt free that £565 could go into my disposable income and I'd feel quite "well off"
So mad at myself :mad: at least I can tell myself when all this debt is paid off I'll be £500 ish a month better off that'll be a nice day when that happens! And by then I'll be so used to budgeting and this way of life that I'll be careful with the extra money and I'll use it to plan ahead.
I've been reading the YNAB emails and one of the things they suggest is living off last months wages. What an amazing idea when I have my own finances in order I'm going to start saving for my son so that when he starts to work I can "match" his first pay packet and I'm going to talk to him all about budgeting and gift him a months wage in advance on the condition he try's to live off last months wage and budgets. I know at the end of the day he'll do what he's going to do and he's his own person so I won't be pushy or controlling just advise him and the rest is down to him. But I think if someone was offering me a months advance on my wage it would be a good incentive to stick to it. Anyway were taking years from now I'm just thinking about the future and how I can best support my little man to not get into debt like I have.

f0xh0les

I do some Royal Ma!l surveys, they just ask you to post things on certain days, or my favourite is one stupidly easy one where they ask you how many pieces of junk mail you get through the post daily or weekly.

It takes seconds to do, and they send you Love to Shop vouchers - ok, it is not cash, but you can use them in Iceland and B**ts and Super drug or Waterstones, so I tend to either use them when I am stocking up, or if I need to buy presents, or give them as presents. It is easily worth £75 - £100 for no effort whatsoever.

I also do You Gov surveys I get about £100 a year from that - if you have a child they often offer short surveys on their opinions, always worth over £1.00 for kids surveys - takes a few minutes, no effort.

GfK do a 'what did you watch on tv tonight and was it worth it' survey - the rewards are regular, I usually won between £2-10 a month. Again, it took seconds and could be done after the smalls were in bed.

Mine are 5, 7, 11 and 13 - and DH is an Academic (so utterly lovely and entirely useless)

glass_half_full

Hi Popstess,
I like your post on YNAB. I have recently (October) adopted it too. Like you, it made me think about my son and educating him on how to manage his money. I look forward to the day I am one month ahead, I'm working towards that! Good luck with your journey.

rolls99

Popstess wrote: »

Can't sleep, haven't been able to sleep properly for a long time due to worrying about money.
Also my head is spinning with 100s of thoughts. I'm currently looking into a new better paid job (isn't as straight forward as it sounds)
I really want to bring in some extra even just small amounts of xtra income to keep me motivated.
I'm a bit of a all or nothing kinda gal, I kind of have a switch and it's either utterly obsessed or completely uninterested no middle ground. Right now I'm completely obsessed with money lol making money saving money and paying off debt.
The way I see it I'm at a standstill, I've got lots of little accounts with various pots of money set up, I have a teeny start on an emergency fund and I have a new 'spending money' current account that is delegate from my wages and DD's. I still have money left in the bank and only a couple of small bills to pay between now and pay day.
My plan is anything that's still in my account on the day I get paid can be used towards my debts well I'm planning on halving it. Half as an overpayment and half to my EF
Then I'll start the process all over "pay myself" my monthly "spending money" then when pay day comes round anything left over sane again.
So at the moment I can't do anything until pay day.
Anyway sorry for the late night ramblings needed to get it off my chest.

You are getting all the normal feelings here.


I think you are SPOT ON to "Split" any surplus you have between debt and any other pots.


One point (particularly with any credit card debt) is this: work towards not paying on the "Due date", but to a point as close to the statement date as you can.


For example if you statement is on the 1st of the month and due to be paid on the 18th (for argument's sake), those 18 days effectively give the CC more interest (as it's charged daily). If you paid on the 2nd then you pay 17 days less interest on the amount you've paid. It might be "Not a lot" as a certain magician might say, if your payment is say £200, but that is still money saved.


And there's also another reason: even if you're paying no interest, even doing one card at a time, by "edging back" the payment, you "Should" reach a point where although you are not paying the card twice in one month, you ARE paying it twice out of one month's salary.


Although it needs careful planning, you can then effectively "give" yourself that payment on the next month "for free" (or a portion of it).


The idea is that whatever the amount, pick "one card", and then "Save" the payment amount for that one card: that means, you've got that immediately to make the payment as soon as you can (after the statement shows).


If you're paying say £50 to this hypothetical card, by allowing that money to sit, you can then use the £50 you would have paid to it to put toward another card (increasing that payment) or a portion thereof, increase your buffer or stick it in any other account.


In theory you can do this with all your payments (akin to the "last months wages") but "next months payments"

12_month_challenge

Hi Pops I have just read this post and wanted to share it with you

WOW WHAT AN INSPIRATIONAL POST

have a read
x

12_month_challenge

Hello!

I am sneaking in to say a few words then I am going to disappear again. Today marks the 1st day of my second year travelling the world. I am writing this from Sydney, Australia.

MSE has played a MASSIVE part in my life over the last few years and as much as I haven't posted in a very very very long time it's for a good reason. Whereas I will never leave the MSE family entirely my life is now about something else.

This is what I wanted to tell you all - it gets better.

No matter how much debt you have, no matter where you are mentally - it gets better. You are in the best place possible to tackle your debt - you are surrounded by like minded people but watch out cause this debt busting stuff gets addictive.

I should know - I had to clear £16,600. Then raise more in order to travel - about £15,000. That was 1 year and 1 day away now. I have covered 9 countries, taken 17 flights, and my next country is New Zealand on the 2rd January 2016. I have another 3-4 countries to hit this year before coming home for a visit.

Seriously so not give up, get meticulous, know what you owe, set a DFD (debt free day) and most importantly HAVE A GOAL - you are your own boss and I truly believe each and every person that comes on here has the ability to get rid of their debt.

I don't mean to be cheesy in any way - everybody's life is so very different but I never thought I would make it here - never. I was saving for a house so my goals changed and hey presto I am now living out of a rucksack...

You CAN do it. Just make being debt free your number one goal.

Over and out - Upwards and Onwards.

NSK.

Popstess

f0xh0les wrote: »

I do some Royal Ma!l surveys, they just ask you to post things on certain days, or my favourite is one stupidly easy one where they ask you how many pieces of junk mail you get through the post daily or weekly.

It takes seconds to do, and they send you Love to Shop vouchers - ok, it is not cash, but you can use them in Iceland and B**ts and Super drug or Waterstones, so I tend to either use them when I am stocking up, or if I need to buy presents, or give them as presents. It is easily worth £75 - £100 for no effort whatsoever.

I also do You Gov surveys I get about £100 a year from that - if you have a child they often offer short surveys on their opinions, always worth over £1.00 for kids surveys - takes a few minutes, no effort.

GfK do a 'what did you watch on tv tonight and was it worth it' survey - the rewards are regular, I usually won between £2-10 a month. Again, it took seconds and could be done after the smalls were in bed.

Mine are 5, 7, 11 and 13 - and DH is an Academic (so utterly lovely and entirely useless)

Hi foxholes :hello:

I can't seem to find how to register on yougov only how to sign in.
What's Gfk?

Popstess

glass_half_full wrote: »

Hi Popstess,
I like your post on YNAB. I have recently (October) adopted it too. Like you, it made me think about my son and educating him on how to manage his money. I look forward to the day I am one month ahead, I'm working towards that! Good luck with your journey.

Hi Glasshalffull :hello:
I haven't signed up for YNAB just for the emails and I've done some seminars. I like the ideas behind it
I would love to one day be a month ahead too!

Thank you so much

Popstess

rolls99 wrote: »

You are getting all the normal feelings here.


I think you are SPOT ON to "Split" any surplus you have between debt and any other pots.


One point (particularly with any credit card debt) is this: work towards not paying on the "Due date", but to a point as close to the statement date as you can.


For example if you statement is on the 1st of the month and due to be paid on the 18th (for argument's sake), those 18 days effectively give the CC more interest (as it's charged daily). If you paid on the 2nd then you pay 17 days less interest on the amount you've paid. It might be "Not a lot" as a certain magician might say, if your payment is say £200, but that is still money saved.


And there's also another reason: even if you're paying no interest, even doing one card at a time, by "edging back" the payment, you "Should" reach a point where although you are not paying the card twice in one month, you ARE paying it twice out of one month's salary.


Although it needs careful planning, you can then effectively "give" yourself that payment on the next month "for free" (or a portion of it).


The idea is that whatever the amount, pick "one card", and then "Save" the payment amount for that one card: that means, you've got that immediately to make the payment as soon as you can (after the statement shows).


If you're paying say £50 to this hypothetical card, by allowing that money to sit, you can then use the £50 you would have paid to it to put toward another card (increasing that payment) or a portion thereof, increase your buffer or stick it in any other account.


In theory you can do this with all your payments (akin to the "last months wages") but "next months payments"

Hi rolls :hello: great advise as usual thank you. I'm not 100% sure I follow what you mean about the paying of the cards that way.
I get a text on 1st of the month to say my Tesco card needs paid but because my deficit debit goes out on the 15th after I get paid would it be better if I changed my direct debit to the 2nd?