Flo's Debt Free Diary

anita55

Well done on doing without potato's (something I would find extremely hard) but you kept to your guns and I bet you still enjoyed Sunday pie night just as much.

Florence_J

It was good anita, and today for dessert i had tinned fruit and yoghurt using up a tin long banished to the back of the cupboard.

Was reading Martin Lewis's 'Three most important lessons you've never been taught' last night and was so inspired by the part about potentially reclaiming bank and credit card charges that i got up at 5am today to start going through the information about this. The worst case scenerio is i may have wasted some time, the best case scenerio is i could get some money back.

Had home made chinese tonight, eating pasta twice this week (this is a big sacrifice for my boyf who doesn't like eating meals that are the same too near each other) and i have put out some soon to go off chopped tomatoes and part baked rolls to use up for tomorrows dinner.

Have started a shop online at asda and then abandoned it in the hope i may get a money off voucher sent my way (i will do my shop here anyway come payday which could be friday!) and have been eagerly checking to see if Tesco's are doing a club card boost as i have 6.50 in vouchers.

THE WEEKEND AND TODAY HAVE BEEN NO SPEND DAYS!

note3

Well done on no spend days. Didn't know they did that on half filled baskets will have to try that trick!

Sounds like you're doing very well with frugal living at the mo

Florence_J

Before i was excited about every penny i spent. Now i'm excited about every penny i save. I have grown angry with my previously beloved Sainsbury's over how it is more expensive than other shops, to the point i refuse to buy something if i know i can get it cheaper elsewehere (this applies to any shop)

In other news today i did something i had long been dreading. I compiled all the data from my last five years of bank statements to see how much money i owed my boyfriend through him supporting my financially over the last few years.

20385.67

That's almost the same as my student and maintenance loans from my degree!

I was always aware of this, i knew it was around the 20k mark from having bad employment opportunities over the last five years, and i actually feel calm seeing it in black and white.

It is interest free, and although it has to be paid back (my boyfriend won't let me off the hook, no matter how many dinners i make him ) it can be paid back at leisure.

This is what i mean when i refer to my debt delaying my life with my boyfriend. Although i am not entirely to blame for my lack of regular/full time employment over the last few years as i did everything in my power (at one point i had SIX JOBS AT THE SAME TIME) it has caused the trouble i am in, and the fact that my boyfriend could have used that as a deposit on a house for us. Or we could have got married. (Reading this to my boyfriend he interjects with 'or on cake!')

I have been reckless with money. I have given no thought to my finances. But i am changed, and part of the reason i am not in a desperate hurry to seek higher paid employment (through not paying the train fare) is because i want to learn my lesson. I'm not a masochist, i'm not trying to inflict pain on myself, but i am happy to take the long road to be debt free as i need to learn the value of money. I am very nearly there, but i still have a while to go.

note3

That's a large sum but it's definitely doable x

Kitten868

Hiya Flo,

How are you tackling debt? Snowball? Maybe for partner you need to sort out a high interest account or a save to buy isa that the government pay into. This £20k probably wouldn't have bought a house, it would have been frittered away - we are all guilty of that. That's the best way to repay him is build him back the means for a deposit once you're mortgaged you'll be in a better position - paying down a debt rather than renting. I know some don't agree but in my experience mortgages are always cheaper.
How are we doing with figures dear? I'm sure you've got a lot to shout about xxxx

Florence_J

Tomorrow is pay day, we have made it to the end of the food budget (from my payday to next payday) with......71p left over!!!

YES!!!!!!!!!!!

I have spent all this week compiling data from the last five years of 'financial hell' (unemployment, zero hour contracts, unpaid work, credit card debt, boyfriend debt) and 11% of my income during june 2011 (leaving University) to june 2011 (getting my first full time admin job) was on my bank current account overdraft interest and charges from repeatedly defaulting on payments, going over my overdraft, being in the arranged but non interest free overdraft, to the total of nearly 400 pounds which could have paid off most of the non interest free part of the overdraft.

So absolute long shot, but i have lodged a complaint with my bank to see if i can get this money refunded on the basis i was in financial hardship (i was receiving benefits during that time and most years i borrowed close to or even more than what i earnt). I sincerely doubt this will be successful but in some ways i don't care because i would have compiled this data anyway. It's been fascinating/depressing to see the money i've spent on charges (and how they're gone up but then down), the money i've borrowed go up (and then down) and the percentage of what income was borrowed money and what was wages and what was benefits.

It has been a good trawl through the financial archives, and i feel the better for it.

I now feel like i know everything about my debt.

In fact this debt journey has made me realise two things-1) i love economics and 2) i want to be a financial advisor. I have always wanted to help people as a career, and i want to get out of debt as soon as possible because the fact that i have found all of this really stimulating rather than boring, and that i love doing my tax return and anything to do with economics and finances means i want to retrain and go back to Uni so i can become more involved in finances and help people.

I could be the next Mrs Moneypenny!

I had a store cupboard dinner, noodles which i'm pretty sure i bought early last year, frozen veg and a frozen salmon fillet and now i am going to watch superscrimpers on 4od and read my book. My boyf is out so i may tidy up so that he has something nice to come home to.

I will get up early tomorrow to pay my credit card bills and then i will post on here the new updated totals on the credit card debt.

Still not tempted to ever use the cards again. I would rather go without then get into debt again.

i have been nicotine free for over three weeks. i am so much calmer and feel like this is the start of a new flo, one who manages her finances, and doesn't use nicotine.

Also through my better eating habits (after binge watching my other guilty pleasure secret eaters) I HAVE LOST 6 POUNDS!!!! (No financial jokes please )

I am in the best frame of mind. I am so excited about my future.

Florence_J

sorry guys, in the third paragraph of the above post it's meant to say june 2011- june 2015!! my bad!!!

Florence_J

Today is pay day. On pay day i always get up early to pay my bills, and today was no different.

NEW BALANCES (obviously they have to go through first)

AQUA- 400.63/450=49.37 PAID OFF
BARCLAY-440.58/500=59.42 PAID OFF
CAPITAL-374.96/450=75.04 PAID OFF
VANQUIS- 1895.78/2250 = 354.22 PAID OFF
NATWEST - 482.79/500=17.21 PAID OFF

Which equals 13.37% of my credit card debt paid off!!!!

I will now make up some spreadsheets for the next months spending and make a shopping list, as well as do a financial forecast. My boyf and I have been invited to have a noodle box with his sister, i've checked the menu and it's 6 quid i will have to allocate from the budget, I have this money but will need to be careful. I have also made an arrangement to see my friend who is getting married maybe this year to find out more about her wedding arrangements and how to budget for it.

anita55

Well done Florence, you put me to shame wish I had the same enthusiasm as you do for finances, I do quite enjoy working things out but only in a small way, you sound like you might be the next Martina Lewis and have you own tv show and website. Have you a blog, if not have you thought about it you write so well and you could log your money making and saving on there.