Flo's Debt Free Diary

Florence_J

Hi everyone, this is where my credit cards debt currently stand, based on this years payments alone:

Aqua: 406.66/450
Barclay: 444.79/500
Capital: 379.63/450
Vanquis: 2005.42/2250

Total Debt repayment so far-413.50

What has made me very happy is seeing the minimum payments and more importantly interest go down when i make these payments. It's giving me more freedom over my finances and the ability to make more payments. I am pleased with my decision to focus all my energy on the vanquis card, and put all my money towards that. It does mean that i will only be paying less than 100 pounds on each of the other cards during that time, but once Vanquis is paid off i can pay off the other cards much quicker.

Still working on what i'm challenging myself to do in March, will post when i know what i'm aiming for.

Thanks for reading guys.

Florence_J

Ok here is how i'll be spending my 21 pound disposable income in March:

Week 1

16 quid for Theatre Ticket (This is a maybe purchase, i have missed this show in the two previous times it has come to cardiff and i would love to see it, but i'll see if my friend can buy me the ticket at a reduced rate)

5 quid Socks (I always seem to need these)

Week 2

No purchases are needed this week, so i'm going to try and save the money. I have been considering buying a new dress with this money as it's my boyf and my birthdays in march, but i will have to see as that would very much be a 'non essential purchase' and i got into this mess because of them.

Week 3

Boyf's birthday drinks 10-14 quid

Two days worth of Bus fares (7.20) I'll be going to the hospital twice for appointments and i'm going to see if i can walk instead.

Week 4

Birkenstomp (It's a festival in Cardiff) 20 quid. I would like to save all my money for this, as i'm sure there will be lovely things to buy, but again they would be non essential purchases, so will think about it.

It's clear i do have the potential to save around 40 quid in March which would go a long way in Savings or debt, so i will be considering that.

Since my friend is potentially getting married this year it would actually be good to save all my money for that. I do have a standing order for savings, but it would be good to save more.

I'm just torn between whether if i budget for them i am allowed to have a good time at social events, or if i should really deny myself. I don't know if i'm making the right choices. I've only made bad ones in the past so i will have to consider that.

I think it would probably be wiser to save money for the wedding.

Florence_J

Goals for March

Stick to Budgets

Lose 5 Pounds

Make/Save/Invest 1 pound a day

Switch energy suppliers

Ring up phone network about early upgrade due in april (i have seen i can get a better phone for less money that i'm paying now, if i get the next phone up i can finally get a fitbit which has been a long term dream/goal of mine)

Get up early each day so i don't have to get the bus to the station

List things on ebay, sell things

Come up with saving plan for friends wedding

Florence_J

Have decided to change it to saving 2 quid a day, i want to save the equivalent of 31 pounds in changing suppliers, shopping around etc, but i want to save an additional quid on top of that for my savings account for the weddings. I realised it is silly to say i can buy this and that non essential purchases and then complain about being in debt. I am being silly. I'm not saying i have to deny myself everything, but i do have to be a lot more careful.

Florence_J

Just did the maths, I have paid off very, very nearly 10% of my CC debt! In just two paydays, woo! If nothing was to change and i could continue at this rate i could be cc debt free by next August!

When I'm panicking about how i'm going to afford shampoo and conditioner, a moment like this makes it worth it.

Kitten868

Would it help more mentally to see off the mammoth debt or get rid of all the little ones?
I was going soonest 0% end but now I'm doing smallest balance first as they all have long 0% deals on and it's better for my mental state.
You're doing fab just keep going. I am getting frustrated waiting for payday to pay things off. X

snozberry

you are doing really well - keep it up!

Have you thought about signing up to Boots Review Panel? I do it. They send me smellies to keep in exchange for a review on their website. Also, Shop and Scan is good - you get vouchers in exchange for information on your shopping. I have done it for years now and get Amazon vouchers (sometimes Next vouchers) for my troubles. I really like it because the Boots smellies keeps my morals high and the Amazon vouchers from Shop n scan are really handy at Christmas time

Florence_J

Hello, Thanks for the advice Kitten and Snozberry. In regards to the credit cards, i will be saving a lot more money in the long run focusing on the worse card. I don't think it actually has the highest interest rate out of all my cards but due to it having the biggest balance i am paying a huge amount just in interest. I was originally looking at paying off a small card first, just for a boost, but actually seeing the credit balance on the bad card go down is a real boost, seeing the interest amount decrease and also being able to make bigger and bigger payments is all the boost i need.

Snozberry-thank you for your suggestions. I have had a look into shop and scan, i'll have to see if i can join, unfortunately boots panel review isn't taking on new members. but i appreciate your suggestions very much so.

It was a NSD yesterday, not today unfortunately but i only spent 5.89 and 3 quid of that was on a gift for my step mum for mothers day. That snuck up on me! I had forgotten to budget for that shamefully, need to get something for my mum as well.

Travelling home tomorrow and will be looking forward to getting home so i can contact my landlords-strictly as a courtesy-to tell them i will be moving energy suppliers! Woo!

Florence_J

Disaster today, absolute disaster. I was due to travel back to Cardiff today from visiting my family. My train had been booked in advance at a very good price, and it was nice and early so i could get lots of stuff done.

Something about visiting my family really messes with my sleep pattern. I'm still awake at 1.30am, and i end up sleeping till midday.

My train was at 8.25, i woke up at ....8.39!

So i had to buy a new train ticket. 45.50, plus the 16.50 i had originally paid for a ticket. This means i will have to borrow the money off my boyfriend to help me pay the bills. It was a bad bad day.

Florence_J

Also have crunched the numbers and my and the boyf only seem to have less than 10 quid left from the shopping budget, which has to last us till i get paid on the 27th! I don't know how we have ploughed through that much.

Time to be very very creative with the food menu for the next 12 days.