Debt free by 30!

LolStevo

I'm turning 29 next week and it's hit me how I'm still terrible with money! In my early twenties whilst at uni I got in some debt and buried my head!

I am currently private renting and have been for 5 years and hate it, hate the way landlords treat tenants and won't do any jobs whilst I'm paying top end rent to live in what I thought was a decent house!

Anyway I want to buy a house before I turn 32 so I'm aiming to clear debt by 30/31 which I know is a massive task unless I get a pay rise! (I'm waiting on my boss to tell me if I can have one otherwise looking for a new job)

so I have started with my biggest pit fall which is my shopping/food bill! I know I spend far too much and waste far too much food! I have joined a few frugal groups on Facebook and they are helping already!

Any other tips along the way? x

enthusiasticsaver

Do a budget, think before you spend anything and once you have decided that you really do need to buy that particular item research so you know you are getting the best deal. Impulse buying is the very worst thing to do if you are not good with money. Meal planning is also another thing which will help you save money. If you cook something for dinner and have leftovers take it in to work to heat up for lunch the following day. Keep a spending diary so you can see what you are actually spending each day and look for ways to economise. Good luck.

concrete_kid

Meal planning will make a huge difference, but along with that really have a good think about your week ahead.

I get an a4 peice of paper, on the left I write the days of the week, next to each day I write what I will eat for every meal. I start off by looking in the cupboards and freezer to see what I already have. I also write down when I'll be eating out, at my mums, having takeaway so I don't buy food for these nights.

On the right I write my shopping list, in sections, meat, veg, store cupboard. Just before I go shopping I double check what I have in the kitchen and cross off anything I already have.

I don't actually buy budget or value food, I just buy whatever I want to eat, even doing it this way I save a fortune. But on a particularly skint week, I'll veer towards porridge, soup, veggie curries.

Also at the start of the month when I've been paid. I make large portions of chilli, curry, and stew (about 10 portions each). This then gets frozen and means there is always something nice to eat whenever I either can't be bothered cooking, or having got time.

Hopoe that helps.

LolStevo

Thank you! Iv definitely been more frugal this week, had a bad few days with daughters birthday party and my birthday so a few expensive days but Iv found hunting for the reduced items is so exciting haha!

Every meal this week has been bought from reduced items, Sunday dinner was a lasagne with flatbread all cost me about £3 and I got 2 dinners for work in the freezer from it!

Its my birthday today and instead of getting my fave restaurant delivery iv cooked my reduced salmon, flat bread and crispy potatoes

I need to clear some small debts that have cropped up too so that's my next task to conquer x

northerner999

Filling in an SOA and posting it on here will allow more specific suggestions.

Basically, make sure you know what you are spending money on. The example I keep using is how I was getting a £1 machine coffee at work rather than taking in a jar of instant... and I prefer tea anyway! That was easily £40 a month going into a machine to make poor coffee, when now I take in my own teabags and split milk costs with colleagues. I usually sorted my own food, but perhaps twice a week would be lazy/tired so would get a sandwich or jacket potato from a (good) shop. Before I knew it that's easily £70 PCm gone.

There are other easy wins. I am a bit of a hoarder with food, when there is a bargain I stock up but sometimes let things build up in cupboards/freezer - every so often I skip a main shop and use up stuff. Often this means my only food spend for the week is a loaf of bread and milk.

You mention your daughter's birthday, what are you getting her for Christmas? I have a present box where, when I see things that I think are good value, I buy them and store. Doesn't matter how close it is to an occasion, I know it is there. Means my friends and young relatives get gifts that never cost more than a couple of quid - have to be careful to avoid giving someone the same gift twice though!

I really would recommend listing a SOA on here and let others help you trim the fat. You'll be amazed at what people come up with. Other than that, just read around and you will pick up good advice - in particular about how to eat into the debt.

andyfromotley

Post an SOA.